Corresponding Borrower Loan definition

Corresponding Borrower Loan means, with respect to a particular series of Securities, the Borrower Loan upon which such series of Securities is dependent for payment.
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Corresponding Borrower Loan means the Prosper Borrower Loan upon which a series of Prosper Borrower Notes is dependent for payment.
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Corresponding Borrower Loan means the Borrower Loan upon which a series of Securities is dependent for payment.
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Examples of Corresponding Borrower Loan in a sentence

  • The Company shall have no liability or obligation with respect to the payment of principal and interest on any Securities except to the extent of the Borrower Loan Net Payments in respect of the Corresponding Borrower Loan.

  • Insert aggregate principal amount of Corresponding Borrower Loan.

  • The Company shall have no liability or obligation with respect to the payment of Principal and interest on any Securities except to the extent of the Borrower Loan Net Payments in respect of the Corresponding Borrower Loan.

  • No Holder of a Security shall have any recourse against the Company unless and then only to the extent that the Company (1) has failed to pay such Holder the Holder’s pro rata share of the Borrower Loan Net Payments in respect of the Corresponding Borrower Loan or (2) has otherwise breached a covenant in this Indenture.

  • With respect to each series of Securities, the Company shall use commercially reasonable efforts to maintain backup servicing arrangements providing for the Corresponding Borrower Loan to be serviced and collected in good faith, accurately and in accordance with industry standards customary for servicing loans such as the Borrower Loans.

  • In addition, Securities shall cease to be Outstanding if the Company, pursuant to Section 3.6(a), has written off in full all unpaid principal and interest on the Corresponding Borrower Loan and has notified the Trustee of such action.

  • With respect to each series of Securities, the Company or a third-party servicer (which may include, without limitation, the Servicer) shall use commercially reasonable efforts to service and collect the Corresponding Borrower Loan, in good faith, accurately and in accordance with industry standards customary for servicing loans such as the Borrower Loans.

  • BORROWER PAYMENT DEPENDENT NOTE SERIES NO._______ 1 PROSPER FUNDING LLC No.__________________ [CUSIP__________] HOLDER:__________________ 2 CORRESPONDING BORROWER LOAN:________________ 3 STATED PRINCIPAL AMOUNT OF THIS NOTE: U.S. $____________ 4 AGGREGATE PRINCIPAL AMOUNT OF THIS SERIES OF NOTES: U.S. $________ 5 INTEREST RATE:________ 6 1 Insert loan ID Number for Corresponding Borrower Loan.

  • The Securities shall be special limited obligations of the Company and no payments of Principal and interest on the Securities of any series shall be payable unless the Company has received Borrower Loan Payments in respect of the Corresponding Borrower Loan, and then shall be payable equally and ratably on the Securities of such series only to the extent of the Borrower Loan Net Payments related to the Corresponding Borrower Loan.

  • No Holder of a Security shall have any recourse against the Company unless and then only to the extent that the Company (i) has failed to pay such Holder the Holder’s pro rata share of the Borrower Loan Net Payments in respect of the Corresponding Borrower Loan, or (ii) has otherwise breached a covenant in this Indenture.


More Definitions of Corresponding Borrower Loan

Corresponding Borrower Loan means the Borrower Loan upon which a series of Borrower Member Dependent Notes is dependent for payment.
Sample 1
Corresponding Borrower Loan means the Corresponding Prosper Borrower Loan and/or Corresponding Open Market Loan.
Sample 1
Corresponding Borrower Loan means the Borrower Loan upon which a series of Borrower Member Payment Dependent Notes is dependent for payment.
Sample 1

Related to Corresponding Borrower Loan

  • Borrower Loan means the mortgage loan made by the Governmental Lender to the Borrower pursuant to the Borrower Loan Agreement in the aggregate principal amount of the Borrower Loan Amount, as evidenced by the Borrower Notes.

  • Funding Borrower shall have the meaning set forth in Section 20.12 hereof.

  • Refunding Borrowing means a Committed Borrowing which, after application of the proceeds thereof, results in no net increase in the outstanding principal amount of Committed Loans made by any Bank.

  • Revolving Borrowing means a Borrowing comprised of Revolving Loans.

  • U.S. Revolving Loan means Loans made by a Lender in respect of its U.S. Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(a) and/or Section 2.24.

  • Existing Borrower s Re-Fix Rate" means at any date the fixed rate then being offered to those of the Seller's existing Borrowers who at that date are seeking to fix the rate of interest payable under their existing Fixed Rate Mortgage Loan with the Seller for the applicable period;

  • Purchasing Borrower Party means Holdings or any subsidiary of Holdings.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.

  • Canadian Borrowing means a borrowing consisting of simultaneous Canadian Loans of the same Type and, in the case of BA Equivalent Loans or LIBO Loans, having the same Interest Period made by each of the Canadian Lenders pursuant to Section 2.3.

  • Subsidiary Borrowers means, collectively (i) each Domestic Subsidiary of the Company that is a party to this Agreement as a “Borrower” on the Effective Date and (ii) each Domestic Subsidiary of the Company that becomes a party to this Agreement as a “Borrower” following the Effective Date pursuant to Section 5.14, in each case, until such time as such Domestic Subsidiary is released from its obligations under the Loan Documents in accordance with this Agreement.

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • U.S. Revolving Loans has the meaning set forth in Section 2.1(a).

  • Subsidiary Borrower mean each Subsidiary of the Company that shall become a Subsidiary Borrower pursuant to Section 2.19, so long as such Subsidiary shall remain a Subsidiary Borrower hereunder. As of the date hereof, there are no Subsidiary Borrowers party hereto.

  • Foreign Borrowers means the Canadian Borrower, the Dutch Borrower, and the U.K. Borrowers.

  • Canadian Revolving Loan means Loans made by a Lender in respect of its Canadian Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(c) and/or Section 2.24.

  • Subsidiary Loan means any loan made pursuant to a Subsidiary Loan Agreement;

  • Canadian Swingline Loan means any Loan made by the Canadian Swingline Lender pursuant to Section 2.12.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Term Loan as defined in Section 2.1.

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

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.