Material Term means any term of an accounts receivable loan or in any document evidencing or securing such financing that: (1) extends the maturity date of the loan; (2) adds guarantors to the loan; (3) releases guarantors from the loan; (4) adds borrowers to the loan; (5) adds an interest reserve to the loan; (6) amends the interest rate payable on the outstanding principal balance of the loan; (7) increases or decreases the principal amount of the loan; (8) adds collateral as additional security for the loan; and/or (9) amends or expands the type of obligations secured by the loan. In the event of conflict between this Section 22 and any HUD-approved intercreditor agreement, the HUD-approved intercreditor agreement shall control.
Material Term as used herein shall be interpreted in accordance with Idaho law. Examples of breaches of material terms of this Contract include, but are not limited to: • Failure by Student to make payment when due. • Violation of the Apartment Living Standards. • Student or Landlord conduct that interferes with the rights to peaceful enjoyment of the premises, recklessly endangers human life, or that damages, defaces, or destroys the property of or threatens physical harm against another. • Student or Landlord suffering, permitting, or maintaining any nuisance or any health hazard on the premises. • Landlord failure to maintain the property in accordance with applicable federal, state, or local laws and regulations, or with BYU-Idaho standards and requirements as established in the Agreement to Provide BYU-Idaho Approved Housing or the University Approved Housing Guidebook. • Landlord materially misrepresents property condition, history, amenities, availability, or any other relevant consideration to a prospective renter on its website and/or in other verbal or written communications (such as e-mails, flyers, brochures, etc.).
Material Term means clauses 3.1c), 3.1d) and 4 of this Agreement.
Examples of Material Term in a sentence
Until the Loan is paid in full, no modifications, extensions, amendments, or renewals on different terms and conditions, to a Material Term, as defined below, of the accounts receivable loan or any accounts receivable related loan document shall take effect without prior written consent of HUD and Lender.
The parties shall mutually agree on a closing date, which shall be no later than ten (10) business days after removal of Lessor’s due diligence contingency, unless otherwise agreed between Lessor and Lessee as an Other Material Term of the Lessee Offer.
Until such approved loan is paid in full, the written approval of HUD is required for any proposed modifications, extensions, renewals or amendments to a Material Term of the AR loan or the security agreement, prior to the effective date of such amendments.
The City is responsible for all costs associated with the preparation and registration of all required surveys, reference plans, instruments and by-laws to establish the LROL as a common and public Material Term Description highway.
Material Term Description Once the City completes the handover of the Parkland Improvement lands to the NCC, the City’s liability related to the scope of the Works will be limited to enforcing, at the NCC’s sole cost and expense, the warranty provided by the City’s contractor in relation to such Works for 2 years following a request by the NCC.
More Definitions of Material Term
Material Term means, in respect of any Mortgage Asset Agreement, any provision thereof on the date on which the Mortgage Asset is assigned to the Issuer relating to (i) the maturity date of the Mortgage Asset,(ii) the ranking of the Mortgage provided by the relevant Borrower, (iii) the spread over the index used to determine the rate of interest thereunder, (iv) the Principal Outstanding Balance of such Mortgage Loan and(v) the amortisation profile of such Mortgage Asset.
Material Term means, in respect of any Mortgage Asset Agreement, any provision thereof on the date on which the Mortgage Asset is assigned to the Issuer relating to: (i) the interest rate; (ii) the maturity date of the Mortgage Loan, (iii) the ranking of the Mortgage provided by the relevant Borrower, (iv) the Principal Outstanding Balance of such Mortgage Loan, and (v) the amortisation profile of such Mortgage Loan.To the extent that the Servicer wishes to propose an amendment, variation or waiver of a Material Term of a Mortgage Asset Agreement that is not otherwise permitted, such amendment, variation or waiver shall only be proposed provided that it does not conflict with the provisions of the Securitisation Law (as amended from time to time) or with any other applicable laws and regulations, and provided further that the relevant Mortgage Assets are substituted and repurchased by the Originator or acquired by a third party in compliance with the terms of the Mortgage Sale Agreement governing substitution of Mortgage Assets (as the case may be), and in addition provided that the following conditions are met:
Material Term has the meaning ascribed to it in Section 1.1(b).
Material Term means, in respect of any Mortgage Asset Agreement, any provision thereof on the date on which the Mortgage Asset is assigned to the Issuer relating to: (i) the interest rate; (ii) the maturity date of the Mortgage Loan, (iii) the Principal Outstanding Balance of such Mortgage Loan, and (iv) the amortisation profile of such Mortgage Loan.Disposal of Written-off Mortgage AssetsThe Servicer may, on behalf of the Issuer and in accordance with the Securitisation Law, sell or otherwise transfer or dispose of Mortgage Assets that have been classified as Written-off Mortgage Assets as the Servicer may deem to correspond to the best servicing of the Mortgage Assets in question.Servicing FeeThe Servicer (or, if applicable, a replacement Servicer) will receive a servicer fee quarterly in arrears calculated by reference to the Aggregate Principal Outstanding Balance of the Mortgage Assets as at the first day of the preceding Calculation Period and payable by the Issuer on each Interest Payment Date.Representations and WarrantiesThe Servicer will make certain representations and warranties to the Issuer in accordance with the terms of the Mortgage Servicing Agreement relating to itself and its entering into the relevant Transaction Documents to which it is a party.Covenants of the ServicerThe Servicer will be required to make positive and negative covenants in favour of the Issuer in accordance with the terms of the Mortgage Servicing Agreement relating to itself and any subcontracted servicer and its entering into the relevant Transaction Documents to which it is a party.Servicer EventThe following events will be “Servicer Events” under the Mortgage Servicing Agreement, the occurrence of which will entitle the Issuer to serve a notice on the Servicer (a “Servicer Event Notice”):
Material Term means, in respect of any Receivables Contract, any provision thereof on the date on which the Assigned Right is assigned to the Issuer relating to (i) the maturity date of the Assigned Right, (ii) the ranking of the Related Security (if any) provided by the relevant Obligor, (iii) the spread over the index and interest rate in relation to, respectively, floating rated and fixed rate contracts, (iv) the Principal Outstanding Balance of such Purchased Receivable and (v) the amortisation profile of such Assigned Right.
Material Term is a term in a loan or security agreement that: extends the maturity date of the loan; adds guarantors to the loan; releases guarantors from the loan; adds borrowers to the loan; adds an interest reserve to the loan; amends the interest rate payable on the outstanding principal balance of the loan; increases or decreases the principal amount of the loan; adds collateral as additional security for the loan; and/or amends or expands the type of obligations secured by the loan.
Material Term shall include any violation indicating a failure to provide representation in accordance with the rules of court, the ethical obligations established by the Washington State Bar Association, the willful disregard of the rights and best interests of the client, a willful violation of the Standards or the Decision, the provisions of Section 6 relating to insurance, conviction of a criminal charge, and/or a finding that the license of any individual Public Defender providing service under this Agreement, has been suspended or revoked. Any violation of the other provisions of this Agreement shall be subject to cure. Written notice of Agreement violation shall be provided to Xxxxxxx & Xxx who shall have twenty (20) business days to cure the violation. Failure to correct the violation will give rise to termination for cause at the City’s discretion. In lieu of terminating this Agreement, the City may agree in writing to alternative corrective measures.