Interest only definition

Interest only means a closed-end loan that permits one or

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Interest only means a closed-end loan that permits one or more payments of interest without any reduction of the principal balance of the loan, other than the first payment on the loan.

Interest only. – this means that you will only pay the interest owed on your loan during this period and not the capital amount owed

Examples of Interest only in a sentence

• Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of Pledgee.

• The holder of the Residual Interest will receive distributions on its Residual Interest only according to Article IV.

• Not later than each Distribution Date, the Servicer shall advance (each, an “Advance”) an amount equal to the Delinquent Interest for such Determination Date by depositing such amount in the Collection Account; provided, however, that the Servicer shall be obligated to advance Delinquent Interest only to the extent that the Servicer, in its sole discretion, expects that such advance will not become an Uncollectible Advance.

• The holder of the Residual Interest is entitled to receive distributions with respect to its Residual Interest only in accordance with Article VIII of the Indenture.

• The Pledgor may receive dividends distributed on the Equity Interest only with prior written consent of the Pledgee.

More Definitions of Interest only

Interest only. Instrument(s)" shall, as to that particular Certificate, have the meaning ascribed to the term "Class S Certificate", "Class IS Certificate, "Class IIS Certificate" or a similar phrase describing an interest only security in the respective Sale Agreement arising from the Securitization pursuant to which such security is issued, which security represents the undivided interest of the Borrower in all or a portion of the interest payments due on certain loans securitized in that Securitization.

Interest only. – this means that you will only pay the interest owed on your loan for an agreed period and not the capital amount owed

Interest only means that all of your loan payments go towards the interest, so the principal is not paid off until the very end of the mortgage. Usually this big amount is paid off by re-financing which is borrowing again, or by selling the house.

Interest only has the meaning given to it in Section E.2.c of the Servicing Guidelines.

Interest only on the outstanding principal amount of the Loan shall be payable in arrears on the first day of each Retail Period during the Interest Payment Period. Interest on the outstanding principal amount of the Loan shall also be payable as otherwise provided herein in connection with principal payments and at maturity (whether by acceleration or otherwise). Interest shall be computed on the basis of a 360-day year and the actual number of days elapsed. Any principal payment due under this Note not paid when due, whether at stated maturity, by notice of repayment, by acceleration or otherwise, shall, to the extent permitted by applicable law, thereafter bear interest (compounded monthly and payable upon demand) at a rate which is 2% per annum in excess of the rate of interest otherwise payable under this Note in respect of such principal amount until such unpaid amount has been paid in full (whether before or after judgment).

Interest only. : means any Mortgage Loan which requires scheduled payments of interest only until the related Maturity Date, or Anticipated Repayment Date.

Interest only. Certificates: The Class B-IO Certificates.