Significant Modification definition

Significant Modification. As defined in Section 3.25.

Significant Modification means any modification to the interest rate of the greater of (i) 0.25% added or subtracted from the existing rate and (ii) a change equal to the product of (a) 5% and (b) the annual existing interest rate thereon, which is not provided for in the related Mortgage Note. The purchase price for any repurchase pursuant to this Section 3.25(b) shall be the applicable Purchase Price. In order to exercise its repurchase rights hereunder, the Seller shall deliver to the Master Servicer and the Trustee an Officer’s Certificate identifying the Mortgage Loan to be repurchased and certifying that (i) such Mortgage Loan is a Significant Modification Loan, and (ii) that the Significant Modification Loan will be entered into on the date of such repurchase.

Significant Modification means:

Examples of Significant Modification in a sentence

• The Developer shall provide the NYISO with all required information to assist the NYISO in making its determination regarding a Significant Modification and shall be responsible for the costs of any study work the NYISO must perform in making its determination.

• The Developer may request that the NYISO review whether a modification to the Transmission Project would constitute a Significant Modification.

• Rather, the following notice will be included at the beginning of the Work Plan: Significant Modification – This is a significant modification of the Work Plan.

• The NYISO’s determination regarding a Significant Modification to the Transmission Project under this Agreement shall be separate from, and shall not replace, the NYISO’s review and determination of Material Modifications to the Transmission Project under Attachment X of the OATT.9 The Developer may request that the NYISO review whether a modification to the Transmission Project would constitute a Significant Modification.

• The NYISO’s determination regarding a Significant Modification to the Transmission Project under this Agreement shall be separate from, and shall not replace, the NYISO’s review and determination of Material Modifications to the Transmission Project under Attachment X of the OATT.

More Definitions of Significant Modification

Significant Modification means any of the following changes (taking changes that occurred prior to acquisition of the Receivables by the Receivables Trust into account) to a Receivable:

Significant Modification means a modification made pursuant to 15A NCAC 02Q .0516, Significant Permit Modification.

Significant Modification means (a) any modification or amendment of a Purchased Loan which:

Significant Modification means a modification to an approved permit issued by the Agency in accordance with Section 39 of the Act [415 ILCS 5/39] and 35 Ill. Adm. Code 813 that is required when one or more of the following changes (considered significant when that change is measured by one or more parameters whose values lie outside the expected operating range of values as specified in the permit) are planned, occur, or will occur:

Significant Modification. The meaning given to such term in Section 3.21(b) hereto.

Significant Modification means, with respect to any Mortgage Loan, any waiver or modification of any material term of such Mortgage Loan, other than (a) a modification of a Mortgage Loan solely to extend the term to maturity of such Mortgage Loan consistent with customary industry practices for mortgage loans similar to such Mortgage Loan or (b) to increase the commitment amount.

Significant Modification means (i) any extension, amendment, waiver, termination, rescission, cancellation, release, subordination or other modification to the terms of, or any collateral, guaranty or indemnity for, any Purchased Asset or Purchased Asset Document (including, without limitation, any provision related to the amount or timing of any scheduled payment of interest or principal, the validity, perfection or priority of any security interest, or the release of any collateral or obligor), (ii) any sale, transfer, disposition or any similar action with respect to any collateral for any Purchased Asset (except to the extent required under the Purchased Asset Documents) or (iii) the foreclosure or exercise of any material right or remedy by the holder of any Purchased Asset or Purchased Asset Document.