Mortgage Interest Payments definition

Mortgage Interest Payments means all Monthly Payments (except to the extent of any amounts representing principal repaid), other interest received under the Mortgage Portfolio, all prepayment charges and any other redemption fees, insurance commissions, charges and penalties and any costs or other amounts received under the Mortgage Portfolio (including in any such case amounts (other than principal amounts) recovered on enforcement of rights against any Borrower or guarantor or his property or assets (including interest recovered on enforcement of the Borrower's Mortgage or from a guarantor)).
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Mortgage Interest Payments means the lower of: (a) the amount of Executive’s monthly interest portion of the Stipulated Mortgage Amount after offsetting the value of any tax deduction that Executive would receive for such interest payments, and (b) the amount resulting from the calculation in clause (a) above, assuming that Executive’s mortgage interest rate is 4.25% per annum. The Mortgage Interest Payments shall continue until and then terminate on the earliest to occur of (A) the termination of Executive’s employment with the Company, (B) Executive ceasing to make payments on a mortgage on his primary residence in the San Francisco Bay Area, and (C) the second anniversary of the date of Executive’s purchase of a residence in the San Francisco Bay Area. If Executive refinances or sells one San Francisco Bay Area residence and purchases another in the San Francisco Bay Area, the amount of the Mortgage Interest Payments shall not be recalculated and shall continue unaffected by such transaction. Executive will also receive an amount that is intended to offset his tax on any reimbursement of Mortgage Interest Payments pursuant to this Section 2.3.4.5, which amount shall be equal to forty-five percent (45%) of such reimbursement of Mortgage Interest Payments. Notwithstanding the foregoing, the Company’s reimbursement of Mortgage Interest Payments, including any related tax gross-up payments, under this Section 2.3.4.5 shall not exceed $20,000 per year.
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Mortgage Interest Payments means the lower of: (a) the sum of (1) Employee’s monthly interest portion of the mortgage payments on the portion of the Stipulated Mortgage Amount (as defined below) over $1,100,000, plus an amount sufficient to gross-up Employee’s tax on such reimbursement amount, plus (2) that amount which would be Employee’s monthly interest portion of the first $1,100,000 of the Stipulated Mortgage Amount after offsetting the value of any tax deduction that Employee would receive for such interest payments, and (b) the amounts resulting from the calculation in clause (a) above assuming that the Employee’s mortgage is an Approved Mortgage (as defined below). The Mortgage Interest Payments shall continue until and then terminate on the earliest to occur of (A) Employee no longer being employed by the Company, or (B) Employee no longer making payments on a mortgage on his primary residence in the Bay Area, or (C) five (5) years after the Employee purchases a residence in the Bay Area. If Employee refinances and/or sells one California residence and purchases another in California, the amount of the Mortgage Interest Payments shall not be recalculated, but shall continue unaffected by such transaction. As used herein, the following terms shall have the following meanings:
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Examples of Mortgage Interest Payments in a sentence

  • The Mortgage Interest Payments shall continue until and then terminate on the earliest to occur of (A) the termination of Executive’s employment with the Company, (B) Executive ceasing to make payments on a mortgage on his primary residence in the San Francisco Bay Area, and (C) the second anniversary of the date of Executive’s purchase of a residence in the San Francisco Bay Area.

  • Mortgage Interest Payments shall be grossed up for tax purposes and shall be paid to Executive until the sale of Executive’s Corpus Christie, Texas home but in no event shall Mortgage Interest Payments exceed twelve (12) months.

  • Notwithstanding the foregoing, the Company’s reimbursement of Mortgage Interest Payments, including any related tax gross-up payments, under this Section 2.3.4.5 shall not exceed $20,000 per year.

  • Borrower shall provide Lender documentation verifying the number of, and pay rates for, full-time equivalent employees on the Applicant’s payroll whose principal place of residence is in the United States, as well as the dollar amounts of Payroll Costs, Covered Mortgage Interest Payments, Covered Rent Payments, and Covered Utility Payments, for the eight-week period following the Disbursement Date.

  • Upon Executive’s purchase of a primary residence in the Bay Area within three (3) years following the Effective Date, the Company shall pay to Executive a monthly reimbursement equal to the Mortgage Interest Payments (as hereinafter defined) until the Company’s obligation to make such payments terminates as provided below.

  • In the event that the Executive’s employment terminates prior to the end of the Term of this Agreement, the Mortgage Interest Payments shall be subject to any repayment requirement of relocation expenses under the Relocation Policy.

  • Upon Employee’s purchase of a residence in the Bay Area, the Company shall pay Employee a monthly reimbursement equal to the Mortgage Interest Payments (as hereinafter defined) until the Company’s obligation to make such payment terminates as provided below.

  • The Mortgage Interest Payments shall continue until and then terminate on the earliest to occur of (A) Employee no longer being employed by the Company, or (B) Employee no longer making payments on a mortgage on his primary residence in the Bay Area, or (C) five (5) years after the Employee purchases a residence in the Bay Area.

  • Executive will also receive an amount that is intended to offset his tax on any reimbursement of Mortgage Interest Payments pursuant to this Section 2.3.4.5, which amount shall be equal to forty-five percent (45%) of such reimbursement of Mortgage Interest Payments.

  • Upon the sale of Executive’s residence in Rye, New York and his purchase of a primary residence in the Bay Area within two (2) years following the Effective Date, the Company shall pay to Executive a monthly reimbursement equal to the Mortgage Interest Payments (as hereinafter defined) until the Company’s obligation to make such payments terminates as provided below.


More Definitions of Mortgage Interest Payments

Mortgage Interest Payments means the lower of: (a) the amount of Executive’s monthly interest portion of the Stipulated Mortgage Amount after offsetting the value of any tax deduction that Executive would receive for such interest payments, and (b) the amount resulting from the calculation in clause (a) above, assuming that Executive’s mortgage interest rate is 4.25% per annum. The Mortgage Interest Payments shall continue until and then terminate on the earliest to occur of (A) the termination of Executive’s employment with the Company, (B) Executive ceasing to make payments on a mortgage on his primary residence in the San Francisco Bay Area, and (C) the second anniversary of the date of Executive’s purchase of a residence in the San Francisco Bay Area. If Executive refinances or sells one San Francisco Bay Area residence and purchase another in the San Francisco Bay Area, the amount of the Mortgage
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Related to Mortgage Interest Payments

  • Interest Payments With respect to any Purchased Asset, all payments of interest, income, receipts, dividends, and any other collections and distributions received from time to time in connection with any such Purchased Asset.

  • Fixed Interest Payment Date means such Business Day, on which the fixed interest is in fact due and payable. This may fall on a Fixed Coupon Date or may shift to the appropriated Business Day – if the Fixed Coupon Date falls on a day which is not a Business Day – based on the application of the adjustment provision as set out in § 5[(4)][(5)][(6)] (Business Day Convention).

  • Interest Payment means, in respect of an interest payment on an Interest Payment Date, the amount of interest payable on the presentation and surrender of the relevant Coupon for the relevant Interest Period in accordance with Condition 4 (Interest Payments);

  • Scheduled Interest Payment means the scheduled payment of interest due on the Mortgage Loan on a Monthly Payment Date.

  • First Interest Payment Date means the date specified in the relevant Final Terms; "Fixed Coupon Amount" has the meaning given in the relevant Final Terms;

  • Scheduled Interest Payment Date means (a) as to any Eurodollar Loan or Eurodollar Holder Advance, the last day of the Interest Period applicable to such Eurodollar Loan or Eurodollar Holder Advance (or respecting any Eurodollar Loan or Eurodollar Holder Advance having an Interest Period of six (6) months, the three (3) month anniversary of such Interest Period), (b) as to any ABR Loan or any ABR Holder Advance, the fifteenth day of each month, unless such day is not a Business Day and in such case on the next occurring Business Day and (c) as to all Loans and Holder Advances, the date of any voluntary or involuntary payment, prepayment, return or redemption, and the Maturity Date or the Expiration Date, as the case may be.

  • Fixed Rate Interest Payment Date has the meaning set forth in clause (d) of Section 2.01 of this Supplemental Indenture.

  • Compensating Interest Payment As defined in Section 6.06.

  • Interest Payment Dates July 1, October 1, January 1 and April 1. Record Dates: June 15, September 15, December 15 and March 15. Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

  • Interest Payment Amount With respect to each outstanding Class of Notes and any Payment Date, the Interest Accrual Amount for such Class of Notes, less any Modification Loss Amount for such Payment Date allocated to reduce the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(f) hereof, or plus any Modification Gain Amount for such Payment Date allocated to increase the Interest Payment Amount owed for such Class of Notes pursuant to Section 3.03(g) hereof.

  • LIBOR Interest Payment Date means, with respect to a LIBOR Rate Loan, the Termination Date and the last day of each Interest Period applicable to such Loan or, with respect to each Interest Period of greater than three months in duration, the last day of the third month of such Interest Period and the last day of such Interest Period.

  • Special Interest Payment Date has the meaning ascribed to it in Section 2.11 hereof.

  • Floating Rate Interest Payment Date has the meaning set forth in clause (d)(1) of Section 2.02 of this Supplemental Indenture.

  • Interest Payment Period means the period from and including an Interest Payment Date, or in the case of the first Interest Payment Period, the original date of issuance of the Debt Securities, to, but excluding, the next succeeding Interest Payment Date or, in the case of the last Interest Payment Period, the Redemption Date, Special Redemption Date or Maturity Date, as the case may be.

  • Extended Interest Payment Period shall have the meaning set forth in Section 4.1.

  • Interest Payment Date when used with respect to any Security, means the Stated Maturity of an installment of interest on such Security.

  • Additional Interest Payment Date With respect to the Initial Securities, each Interest Payment Date.

  • Compulsory Interest Payment Date means any Interest Payment Date unless at the Assemblée Générale of the shareholders of the Issuer immediately preceding such date which was required to approve the annual accounts of the Issuer for the fiscal year ended immediately prior to such Assemblée Générale, no resolution was passed to pay a dividend on the ordinary share capital of the Issuer in respect of such previous fiscal year and

  • Mortgage Interest Rate Cap With respect to an Adjustable Rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note.

  • Optional Interest Payment Date means any Interest Payment Date other than a Compulsory Interest Payment Date.

  • Mortgage Interest Rate The annual rate of interest borne on a Mortgage Note.

  • Interest Payable means in respect of the relevant Measurement Period ending on any Measurement Date, the aggregate of:

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Interest Record Date for the interest payable on any Interest Payment Date (except a date for payment of defaulted interest) means the April 15 or October 15 (whether or not a Business Day), as the case may be, immediately preceding such Interest Payment Date.

  • Interest Payment Determination Date means the Interest Accrual Period End Date at the end of each Interest Accrual Period; provided that the Interest Payment Determination Date with respect to the final Interest Accrual Period will be the Rate Cut-off Date.