Interest Savings definition

Interest Savings means the amount of interest that Seller would have paid to Comerica Bank between the Closing Date and the date estimated (as of the closing date) for substantial completion of the Improvements based upon the loan balance as of the Closing Date and Seller's best available interest rate pursuant to its loan from Comerica Bank. Buyer and Seller shall execute such additional documents and instruments as may be necessary to accomplish the purposes of this sub-paragraph, including but limited to, an agreement allowing Seller access to the Property for the purposes of completion of the Improvements, appropriate requirements for insurance to be carried by Buyer as owner of the Property, etc.
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Interest Savings means the amount, if any, by which the interest component of a
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Interest Savings means the amount, if any, by which the interest component of a scheduled monthly debt service payment under the new Mortgage debt is less than the product of one-twelfth of the annual interest rate applicable under the paid off Mortgage debt times the principal amount of the new Mortgage debt outstanding immediately prior to application of
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Examples of Interest Savings in a sentence

  • The Units of the exchange traded funds (“ETFs”) are listed on the Toronto Stock Exchange (“TSX”) and NEO Exchange in the case of the Evolve Active Core Fixed Income Fund and High Interest Savings Account Fund.

  • The flows for the institution will be, as follows: Interest Savings = Rs. 100 Crore * 15 bps * 92/365 (assuming 92 days in the 3 month FRA period and 365 days in the conventional year) = Rs.3,78,082.19 Settlement Amount = Rs.3,78,082.19/ (1+8.25%*92/365) Please note that the above examples are hypothetical in nature and the figures are assumed.

  • This document contains key information you should know about CI First Asset High Interest Savings ETF.

  • Eligible registered savings accounts for contributions from Aventura / Gold points redemptions are: RRSP Daily Interest Savings Account (DISA); and TFSA Tax Advantage Savings Account (TASA).

  • The High Interest Savings Account is an account in which you can invest Premiums.

  • SARM has partnered with CIBC Commercial Banking to offer members a pooled High Interest Savings Account.

  • The following provisions apply to any Bask Interest Savings you maintain with us.

  • Since then, as the City has been a leader in the responsible investment area, staff have engaged with MFA to support the creation of MFA pooled investment funds that align with a fossil free approach and MFA has introduced two new Pooled High Interest Savings Accounts that meet the short term investment needs of fossil fuel free investors and will also be introducing an MFA Mortgage Fund which has a small, greatly reduced exposure to fossil fuel companies.

  • PROPERTY TAX ACCOUNTIf you have a Property Tax account, all the funds from this account will be moved to your new Daily Interest Savings account.

  • All amounts invested in the High Interest Savings Account earn interest at a variable rate fixed by iA Financial Group.The book value and the surrender value of the High Interest Savings Account correspond to the total amount invested in this investment vehicle, plus accrued interest.


More Definitions of Interest Savings

Interest Savings means the present value (discounted at a rate of 10% per annum) as of the date of refinancing of future interest payments remaining on the mortgage loan being refinanced less the present value of future interest payments together with any "points" paid on the new mortgage loan, but in no event shall Interest Savings be less than zero. For purposes of the foregoing, the costs and expenses of refinancing a mortgage loan shall be the present value detriment (discounted at a rate of 10% per annum) to the applicable Subject LP or Subject Lower Tier Entity as a result of incurring costs and expenses of refinancing prior to the maturity date of the mortgage loan; and
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Related to Interest Savings

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Interest Funds With respect to each Mortgage Group and any Payment Date, (a) the sum of, without duplication, (1) all interest collected (other than the interest portion of Payaheads and Prepayment Premiums) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Mortgage Group during the related Due Period by the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor Master Servicer), minus, (x) to the extent provided under Sections 4.02(e)(3) and (4) and Sections 5.08(i) and (ii) herein, previously unreimbursed Advances and Nonrecoverable Advances due to the Servicer, the Subservicer, the Master Servicer or the Indenture Trustee (solely in its capacity as successor master servicer) to the extent allocable to interest and the allocable portion of previously unreimbursed Servicing Advances with respect to the Mortgage Loans in such Mortgage Group, (y) the Servicing Administration Fee and Master Servicing Fee with respect to such Mortgage Loans in such Mortgage Group and (z) any fees and expenses of any Custodian with respect to the Mortgage Loans in such Mortgage Group to the extent not paid by the Seller or its Affiliates, (2) any Compensating Interest Payments or payments in respect of Prepayment Interest Shortfalls paid by the Master Servicer pursuant to Section 5.21 with respect to the related Prepayment Period with respect to the Mortgage Loans in such Mortgage Group, (3) the portion of any Purchase Price or Substitution Amount paid with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period allocable to interest, and (4) all Net Liquidation Proceeds, Insurance Proceeds and any other recoveries collected with respect to the Mortgage Loans in such Mortgage Group during the related Prepayment Period, to the extent allocable to interest, as reduced by (b) such Mortgage Group’s pro rata share of: (i) the Owner Trustee Fee, (ii) any costs, expenses or liabilities reimbursable or otherwise due to the Master Servicer, Servicer, the Subservicer, the Indenture Trustee, any Custodian, the Owner Trustee or the Trust Administrator to the extent provided in this Agreement, the Trust Agreement, the Indenture and any Custodial Agreement and (iii) any Net Swap Payment.

  • Unpaid Interest Shortfall Amount With respect to the Class A Certificates and the Mezzanine Certificates and (i) the first Distribution Date, zero, and (ii) any Distribution Date after the first Distribution Date, the amount, if any, by which (a) the sum of (1) the Monthly Interest Distributable Amount for such Class for the immediately preceding Distribution Date and (2) the outstanding Unpaid Interest Shortfall Amount, if any, for such Class for such preceding Distribution Date exceeds (b) the aggregate amount distributed on such Class in respect of interest pursuant to clause (a) of this definition on such preceding Distribution Date, plus interest on the amount of interest due but not paid on the Certificates of such Class on such preceding Distribution Date, to the extent permitted by law, at the Pass-Through Rate for such Class for the related Accrual Period.

  • Interest Component Each future interest payment, or portion thereof, due on or prior to the Maturity Date, or if the Debt Security is subject to redemption or repayment prior to the Maturity Date, the first date on which such Debt Security is subject to redemption or repayment.

  • Interest Subsidy Payments means payments, designated as such, consisting of interest subsidies by the Department in respect of the Trust Student Loans to the Eligible Lender Trustee on behalf of the Trust in accordance with the Higher Education Act.

  • Interest Accrual Period means the period beginning on (and including) the Interest Commencement Date and ending on (but excluding) the first Interest Period Date and each successive period beginning on (and including) an Interest Period Date and ending on (but excluding) the next succeeding Interest Period Date.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Class B Interest Shortfall shall have the meaning specified in subsection 4.02(b).

  • Interest Shortfall With respect to any Distribution Date and each Mortgage Loan that during the related Prepayment Period was the subject of a Principal Prepayment or constitutes a Relief Act Mortgage Loan, an amount determined as follows:

  • Interest Collection Account A Securities Account created and maintained on the books and records of the Securities Intermediary entitled “Interest Collection Account” in the name of the Borrower and subject to the prior Lien of the Collateral Agent for the benefit of the Secured Parties.

  • Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.

  • Unpaid Interest Shortfalls Each of the Class A Unpaid Interest Shortfalls, the Class B-1 Unpaid Interest Shortfall, the Class B-2 Unpaid Interest Shortfall, the Class B-3 Unpaid Interest Shortfall, the Class B-4 Unpaid Interest Shortfall, the Class B-5 Unpaid Interest Shortfall and the Class B-6 Unpaid Interest Shortfall.

  • Interest Collections means, (i) with respect to any Loan Asset, all payments and collections attributable to interest on such Loan Asset, including, without limitation, all scheduled payments of interest and payments of interest relating to principal prepayments, all guaranty payments attributable to interest and proceeds of any liquidations, sales or dispositions attributable to interest on such Loan Asset and (ii) amendment fees, late fees, waiver fees, prepayment fees or other amounts received in respect of Loan Assets.

  • Interest Account means the Account within the Debt Service Fund so designated and established by Article V hereof.