Variable Advance definition

Variable Advance means a loan made by Lender to Borrower under the Variable Facility Commitment.
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Variable Advance means a SARM Variable Advance.
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Variable Advance means any variable rate execution approved by Lender evidenced by a Variable Note.
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Examples of Variable Advance in a sentence

  • The Advance Request shall indicate whether the Request is for a Fixed Advance, a Variable Advance or both.

  • The original stated principal amount of a Variable Advance shall be the sum of the Price and the Discount.

  • The original stated principal amount of a Variable Advance shall be the sum of the Price of the Variable Advance and the Discount of the Variable Advance.

  • The first installment shall be payable on or prior to the Closing Date for the Variable Advance and shall apply to the first full calendar month of the MBS backed by the Variable Advance.

  • The Price and Discount of each Variable Advance shall be determined in accordance with the procedures set out in Section 4.01.

  • The terms of the Master Agreement and this Note govern the repayment, and all other terms relating to each Variable Advance.

  • In addition to paying the Discount and the partial month interest, if any, the Borrower shall pay monthly installments of the Variable Facility Fee to the Lender on account of each Variable Advance over the whole number of calendar months the MBS backed by the Variable Advance is to run from the MBS Issue Date to the maturity date of the MBS.

  • Upon the funding of the Variable Advance, the Lender shall note the date of funding in the appropriate space at the foot of the Advance Confirmation Instrument and deliver a copy of the completed Advance Confirmation Instrument to the Borrower.

  • The proceeds of the Variable Advance made available by the Lender to the Borrower will equal the Price of the Variable Advance.

  • The Variable Advance evidenced by the Advance Confirmation Instrument does not represent a separate indebtedness from that evidenced by this Note.


More Definitions of Variable Advance

Variable Advance means any Variable DMBS Advance and any Variable Structured ARM Advance.
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Variable Advance means any Advance for which Borrower selects, in the applicable Request, the Variable Rate as the applicable interest rate.
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Related to Variable Advance

  • Eligible advance means an advance made before August 19, 1993.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Periodic Advance The aggregate of the advances required to be made by a Servicer on any Distribution Date pursuant to its Servicing Agreement or by the Master Servicer or the Trustee hereunder, the amount of any such advances being equal to the total of all Monthly Payments (adjusted, in each case (i) in respect of interest, to the applicable Mortgage Interest Rate less the applicable Servicing Fee in the case of Periodic Advances made by a Servicer and to the applicable Net Mortgage Interest Rate in the case of Periodic Advances made by the Master Servicer or Trustee and (ii) by the amount of any related Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Soldiers' and Sailors' Civil Relief Act of 1940, as amended, or similar legislation or regulations then in effect) on the Mortgage Loans, that (x) were delinquent as of the close of business on the related Determination Date, (y) were not the subject of a previous Periodic Advance by such Servicer or of a Periodic Advance by the Master Servicer or the Trustee, as the case may be and (z) have not been determined by the Master Servicer, such Servicer or Trustee to be Nonrecoverable Advances.

  • Nonrecoverable Advance Any portion of an Advance previously made or proposed to be made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by the Master Servicer from the related Mortgagor, related Liquidation Proceeds or otherwise.

  • Variable Rate Bonds means Current Interest Bonds, which may be either Serial Bonds or Term Bonds, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed in percentage for the entire term thereof at the date of issue, which Bonds may also be Option Bonds. Section 102.Rules of Construction. Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders. Unless the context shall otherwise indicate, the words "Bond," "Escrow Agent," "Owner," "person," "Paying Agent," and "Bond Registrar" shall include the plural as well as the singular number and the word "person" shall mean any individual, corporation partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. All references to applicable provisions of Law shall be deemed to include any and all amendments thereto.

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • L/C Advance means, with respect to each Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Percentage.

  • LIBOR Rate Advance means an Advance which bears interest at a LIBOR Rate.

  • Monthly Payment Advance means, with respect to any 20[•]-[•] Lease and any Collection Period, an amount equal to the difference between the Monthly Payment due and the Lessee Partial Monthly Payment.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • LIBOR Advance means an Advance bearing interest at a rate based upon the LIBOR Rate.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • Fixed Rate Period shall have the meaning in the form of Security set forth in Section 2.1.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Monthly Advance The portion of each Monthly Payment that is delinquent with respect to each Mortgage Loan at the close of business on the Determination Date required to be advanced by the Company pursuant to Section 5.03 on the Business Day immediately preceding the Remittance Date of the related month.

  • Nonrecoverable Advances Means, with respect to any Mortgage Loan, (a) any Delinquency Advance or Servicing Advance previously made and not reimbursed pursuant to Section 5.03 of the Sale and Servicing Agreement, or (b) a Delinquency Advance proposed to be made in respect of a Mortgage Loan or REO Property either of which, in the good faith business judgment of the Servicer, as evidenced by an Officer’s Certificate delivered to the Indenture Trustee no later than the Business Day following such determination, would not ultimately be recoverable pursuant to Section 5.03 of the Sale and Servicing Agreement.

  • Reference Rate Advance means an Advance which bears interest as provided in Section 2.09(a).

  • Final Advance means an Advance made pursuant to Section 2.02(d).

  • Interest Rate Period means that period of time for which the interest rate with respect to the Bonds has been determined by the Remarketing Agent or otherwise as provided in the definition of the applicable Interest Rate Mode, commencing on the applicable Interest Rate Adjustment Date, and terminating on the day immediately preceding the following Interest Rate Adjustment Date, if any.

  • Additional Advance means each additional loan that is made under an RBC Homeline Plan after the initial advance, including any new or additional advances, increases to principal, or further borrowings or extensions of the term, including in the case of any fluctuating account or accounts, revolving loans, or lines of credit, additional segments of such facilities made after the initial advance. They are referred to collectively as Additional Advances.

  • Delinquency Advance As defined in Section 8.09(a) hereof.

  • Variable Interest Rate means any interest rate that does not qualify as a fixed credit interest rate;

  • Variable Account means the account established for a member who participates in the

  • Non-Recoverable Advance Any portion of an Advance previously made or proposed to be made by the Servicer that, in the good faith judgment of the Servicer, will not or, in the case of a current delinquency, would not, be ultimately recoverable by the Servicer from the related Mortgagor, related Liquidation Proceeds or otherwise with respect to the related Mortgage Loan.