Security for Loan definition

Security for Loan. As security for the payment of the loan note, the Participant grants the lesser of a 50% security interest in the Participant’s account balance, or the loan outstanding principal balance(s), as collateral for the loan. The signed Application will serve as the promissory note, and is incorporated by reference into this Loan Policy and Procedures.
Sample 1
Security for Loan. Liabilities" Defined. As security for repayment of the Loan, and for any and all other indebtedness and liabilities (collectively, the "Liabilities") of the Borrower to Lender, Lender shall have. in addition to all other collateral now or hereafter granted to Lender, title to and a security interest in, the Collateral described below. "Liabilities" shall include, but shall not be limited to, all liabilities and obligations of the Borrower to Lender, however arising, whether now in existence or incurred by the Borrower from time to time hereafter, and whether such indebtedness is absolute or contingent, joint or several, matured or unmatured, direct or indirect, and whether the Borrower is liable to Lender for such indebtedness as principal, surety, endorser, Guarantor, or otherwise. "Liabilities" also shall mean and include obligations to perform acts and refrain from taking action, as well as obligations to pay money. As security for the payment and performance of the Loan and all other Liabilities of Borrower to Lender, Lender shall receive, and with respect to property now owned or hereafter acquired by Borrower, Borrower hereby grants to Lender title to and a continuing security interest in the following collateral (collectively, the "Collateral"):
Sample 1
Security for Loan is amended by changing the title of the real estate security instrument from "Mortgage, Assignment of Leases and Rents and Security Agreement" to "Deed to Secure Debt, Assignment of Leases and Rents and Security Agreement" and the defined term "Mortgage" shall be deemed to refer to such instrument. In addition, any reference herein to "Mortgaged Property" shall be deemed to be a reference to "Trust Property".
Sample 1

Examples of Security for Loan in a sentence

  • By signing this Agreement the Borrower creates, pursuant to Section 3 (Security for Loan), security over the property described below.

  • Care should be taken not to mount the control module too close (less than 4 inches) to any high voltage (400 VAC or greater) wires or components.

  • The Borrower and the Guarantor, in executing this Agreement, acknowledge that they have received a copy of this Agreement and a copy of the Mortgage of Land referred to in Section 3 (Security for Loan) (if applicable).

  • However, the issue for consideration is whether annulling the allotment of shares and filing of all reports and returns with RoC from 30.09.2011 till date including setting aside the shares allotment which will affect the cushion of the bank for its Security for Loan will be in the interest of the company or not.

  • VII.07 Security for Loan; Defaulta) Any Plan loan to a Participant shall be secured by the pledge of the portion of the participant’s account invested in such loan.

  • Arrangement of Security for Loan: The borrower will now arrange for security against the loan.

  • Provide for interest at a rate of 1% above the Prime Rate in effect on the last day of the calendar month coincident with or next preceding the calendar month in which the Participant applied for the loan.d. Security for Loan.

  • The journalist then sought his reaction to this statement and filmed it in the course of a longer interview.

  • Security for Loan borrowers, nominee and guarantors.Aapulaki Scheme: Rs. 25,000.00 is immediately given to member due to death.

Related to Security for Loan

  • Security freeze means a notice placed in a credit report, at the

  • Security Details means any security procedure you follow or use to give or authorise an instruction, confirm your identity or access a Device or certain functionality on that Device (for example a passcode, access code, security code, or biometric data such as a fingerprint).

  • Prior Loan Agreement is defined in Recital A of this Agreement.

  • Funding Loan Agreement means the Funding Loan Agreement, of even date herewith, among the Governmental Lender, the Fiscal Agent and the Funding Lender, as it may from time to time be supplemented, modified or amended by one or more amendments or other instruments supplemental thereto entered into pursuant to the applicable provisions thereof.

  • Underlying Loan Agreement means, with respect to any Loan, the document or documents evidencing the commercial loan agreement or facility pursuant to which such Loan is made.

  • Security Bond means an amount payable by a tenant as security for the performance of his obligations under a residential tenancy agreement, including an amount referred to in section 29(1)(b)(ii);

  • Borrower Security Agreement means the Security Agreement, dated as of the date hereof, between Borrower and the Agent.

  • Guarantor Security Agreement means any Security Agreement executed by any Guarantor in favor of Agent securing the Guaranty of such Guarantor.

  • Lender-Paid Mortgage Insurance Loan Each of the Mortgage Loans identified on the Mortgage Loan Schedule as having a Lender-Paid Mortgage Insurance Rate.

  • Mortgage Loan Agreement means the Loan Agreement, dated as of February 14, 2020, between the Borrower, as borrowers, and the Original Lenders, as lender, as the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

  • Existing Loan Agreement has the meaning set forth in the recitals to this Agreement.

  • Borrower Loan Agreement means this Borrower Loan Agreement.

  • Term Loan Agreement has the meaning assigned to such term in the recitals of this Agreement.

  • Substitute Mortgage Loan A Mortgage Loan substituted by the Seller for a Deleted Mortgage Loan which must, on the date of such substitution, as confirmed in a Request for Release, substantially in the form of Exhibit L, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not more than 10% less than the Stated Principal Balance of the Deleted Mortgage Loan; (ii) have an Adjusted Net Mortgage Rate not lower than the Adjusted Net Mortgage Rate of the Deleted Mortgage Loan, provided that the Master Servicing Fee for the Substitute Mortgage Loan shall be equal to or greater than that of the Deleted Mortgage Loan; (iii) have a maximum mortgage rate not more than 1% per annum higher or lower than the maximum mortgage rate of the Deleted Mortgage Loan; (iv) have a minimum mortgage rate specified in its related Mortgage Note not more than 1% per annum higher or lower than the minimum mortgage rate of the Deleted Mortgage Loan; (v) have the same mortgage index, reset period and periodic rate as the Deleted Mortgage Loan and a gross margin not more than 1% per annum higher or lower than that of the Deleted Mortgage Loan (vi) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (vii) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (viii) not be a Cooperative Loan unless the Deleted Mortgage Loan was a Cooperative Loan and (ix) comply with each representation and warranty set forth in Section 2.3 hereof.

  • Original Loan Agreement has the meaning set forth in the Recitals to this Agreement.

  • Loan Agreement shall have the meaning assigned to such term in the recitals.

  • Loan and Security Agreement “thereunder”, “thereof” or similar words referring to the Loan Agreement shall mean and be a reference to this Agreement and (b) each reference in the Financing Agreements to a “Note” or “Revolving Credit Note” shall mean and be a Revolving Credit Note as defined in this Agreement.

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which any Seller is selling to Buyer simultaneously with the origination thereof and for which the Mortgage Loan Documents have not been delivered to the Custodian.

  • the first supplementary agreement means the agreement of which a copy is set out in the Second Schedule;

  • Bridge Loan Agreement means that certain Senior Unsecured Interim Loan Agreement, dated as of December 20, 2007, among Tribune, the Bridge Lenders, the Former Bridge Loan Agent, JPMorgan Chase Bank, N.A., as syndication agent, and Citicorp North America, Inc. and Bank of America, N.A., as co-documentation agents, as amended, restated, supplemented or otherwise modified from time to time.

  • CD Loan means (i) a Committed Loan which bears interest at a CD Rate pursuant to the applicable Notice of Committed Borrowing or Notice of Interest Rate Election or (ii) an overdue amount which was a CD Loan immediately before it became overdue.

  • Financing Agreement means any lease purchase agreement, installment sale agreement, loan agreement, line of credit or other agreement of the department or, with the approval of the director, and any agency, to finance the improvement, use or acquisition of real or personal property that is or will be owned or operated by one or more agencies of the State, the department or any agency, or to refinance previously executed financing agreements including certificates of participation relating thereto. The School shall not act as a guarantor of any such financing agreement.

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • Lost Mortgage Note Any Mortgage Note the original of which was permanently lost or destroyed and has not been replaced.