Reversionary Period definition

Reversionary Period means in respect of Fixed Rate Mortgages, LIBOR-Linked Mortgages or any Discretionary Further Advance, the applicable initial fixed rate period or, as the case may be, the LIBOR based initial margin period which applies until the rate of interest chargeable in relation thereto becomes: (a) the Standard Rate or (b) the reversionary rate of interest which the Borrower is required to pay at a variable margin over the three month London Interbank Offered Rate for sterling deposits determined quarterly.
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Reversionary Period has the meaning given to it in the Mortgage Sale Agreement; "Secured Amounts" has the same meaning as in the Conditions;
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Reversionary Period means in respect of Fixed Rate Mortgages or any Discretionary Further Advance, the applicable initial fixed rate period until the rate of interest chargeable in relation thereto becomes the Standard Rate.
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Examples of Reversionary Period in a sentence

  • Each Administrator will, on behalf of the Issuer set, where relevant, the rates of interest applicable to the Mortgages, other than Fixed Rate Mortgages during the applicable initial fixed rate period (each such initial fixed rate period and including in the case of any Discretionary Further Advance, the "Reversionary Period") in accordance with the Administration Agreement.

  • If in such example the sale were to occur during the third year of the Reversionary Period, the Shared Percentage would be 8.0%; accordingly, Stadium Village Church would pay the PTCA 8.0% of such amount, or $16,000.

  • No portion of the Second Payment, or interest thereon, may be expended prior to the expiration of the Reversionary Period, except as necessary for administrative expenses and then only with the express written consent of Respondents' Counsel.

  • During the Reversionary Period, Stadium Village Church shall have the right to sell, transfer or exchange the Stadium Village Church Real Property and replace the Stadium Village Church Real Property with other real property.

  • At the expiration of the Reversionary Period, the balance of any amount shall be remitted to the Claims Administrator in trust to be maintained and invested in an interest bearing trust account at a Canadian Chartered Bank, in the province of Quebec, Canada, and administered by the Claims Administrator under the terms of this Agreement and under the supervision of the Court.

  • In no event may the Initial Payment be expended for any other purpose prior to the expiration of the Reversionary Period.

  • If during the Reversionary Period the Stadium Village Church Real Property is taken by exercise of the power of eminent domain or purchased under threat of taking, Stadium Village Church shall have the right to replace the Stadium Village Church Real Property with other real property.

  • The Second Payment, if necessary, shall also be made to the Claims Administrator to be held by him in trust, in an interest bearing trust account in United States currency at a Canadian Chartered Bank, in the province of Quebec, Canada, until the expiration of the Reversionary Period.

  • For purposes of calculating the value of the replacement property under this Reversionary Period Agreement, any construction and remodeling costs included in the calculation will be limited to the construction and remodeling costs reasonably necessary to prepare the replacement property to accommodate Stadium Village Church’s use of the replacement property at the prior level of use of the Stadium Village Church Real Property.

  • Stadium Village Church shall not enter into a binding agreement to sell or otherwise transfer the Stadium Village Church Real Property to another church during the Reversionary Period without first giving notice of such transaction to the PTCA.

Related to Reversionary Period

  • Probationary Period means a working test period during which an employee is required to demonstrate his fitness for the position to which he/she is appointed by actual performance of its duties.

  • Contribution Period means the period specified in Article VI for which Employer Contributions shall be made.

  • Look-back Period means, with respect to any Employment Violation by Grantee, the period beginning on the date which is 12 months prior to the date of such Employment Violation by Grantee and ending on the date of computation of the Recapture Amount with respect to such Employment Violation.

  • Elimination Period means the period of 6 months beginning on the date You become Disabled.

  • Subsequent Reset Period means the period from (and including) the Second Reset Date to (but excluding) the next Subsequent Reset Date, and each successive period from (and including) a Subsequent Reset Date to (but excluding) the next succeeding Subsequent Reset Date; and

  • Start-up Period means up to 7 Academy Financial Years and covers the period up to and including the first Academy Financial Year in which all age groups are present at the Academy (that is, all the pupil cohorts relevant to the age range of the Academy will have some pupils present).

  • One-Year Break in Service means a twelve (12) consecutive month period during which the Participant does not complete more than 500 Hours of Service.

  • Recapture Period means the period commencing on the Effective Date and ending on the fifth anniversary of the last date that a Project owned by the Company is Placed in Service.