Minimum Monthly Payment definition

Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.
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Minimum Monthly Payment. For each Mortgage Loan, the scheduled payment of interest or principal and interest on a Mortgage Loan (which payment may be less than the amount of interest accrued on such Mortgage Loan due to the related Monthly Payment Adjustment Terms) (including any amounts due from a Buydown Fund, if any) which is due on the related Due Date for such Mortgage Loan.
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Minimum Monthly Payment. With respect to any HELOC and any month, the minimum amount required to be paid by the related Mortgagor in such month. With respect to any HEL and any month, the scheduled monthly payment due on the related Due Date.
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Examples of Minimum Monthly Payment in a sentence

  • Your statement also will identify the remaining Credit Line available and the Minimum Monthly Payment you must make for that billing period and the date it is due.

  • Your statement also will identify the remaining credit limit available and the Minimum Monthly Payment you must make for that billing period and the date it is due.

  • You will be in default under this Agreement if any of the following occur: (a) Any Minimum Monthly Payment is not made when due; (b) You become insolvent, bankrupt, or you die; (c) You violate any part of this Agreement, or any other agreement with us; or (d) if we reasonably deem ourselves insecure with respect to your Account.

  • APPLICATION OF PAYMENTS: We decide how to apply your payments, up to the Minimum Monthly Payment amount, to the balances on your Account.

  • If the Minimum Monthly Payment is not made by the Payment Due Date, a late payment charge will be levied at 1% of the unpaid balance from retail transactions and Cash Advances, subject to a minimum late payment charge of RM10 and up to a maximum of RM100.


More Definitions of Minimum Monthly Payment

Minimum Monthly Payment. For each Mortgage Loan, the minimum Monthly Payment required to be paid by the Mortgagor pursuant to the terms of the related Mortgage Note.
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Minimum Monthly Payment. With respect to any Home Equity Loan and any month, the minimum amount required to be paid by the related Mortgagor in such month.
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Minimum Monthly Payment. With respect to any Option ARM Mortgage Loan, the minimum payment required to be paid by a Mortgagor pursuant to the payment options under the related Mortgage Note on each Due Date.
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Minimum Monthly Payment. For any Mortgage Loan, the product of (x) the related Payment Limit and (y) the related Fully Amortizing Monthly Payment.
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Minimum Monthly Payment shall have the meaning as set forth in Clause 13.1.3; “Mis-declaration” shall have the meaning as set forth in Clause 11.5.5;
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Minimum Monthly Payment means a minimum monthly payment payable on the Due Date, which is equivalent to: (a) 5% of the Current Balance + 100% monthly instalment of Credit Card Instalment Plans (if any) + any unpaid minimum payment specified in the preceding month’s Card Statement OR RM50, whichever is the higher; or (b) if the Card Account exceeds the Credit Limit, 5% of the Current Balance + 100% monthly instalment of Credit Card Instalment Plans (if any) + any unpaid minimum payment specified in the preceding month’s Card Statement + Overlimit.
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Minimum Monthly Payment means that payment due the Tribe each month in accordance with Section 6.4.1 of this Agreement.
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