Balloon Payments Sample Clauses

Balloon Payments. No Mortgage Loan is a balloon mortgage loan that has an original stated maturity of less than seven (7) years;

Balloon Payments. Federal Home Loan Bank Board regulations restricting the use of a balloon payment shall not apply to a loan, mortgage, advance, or cred- it sale to which this section applies. (Pub. L. 97–320, title III, § 341, Oct. 15, 1982, 96 Stat. 1505; Pub. L. 98–181, title I [title IV, § 473], Nov. 30, 1983, 97 Stat. 1237.) Section was enacted as part of the Thrift Institutions Restructuring Act and also as part of the Xxxx-St Ger- main Depository Institutions Act of 1982, and not as part of the National Housing Act which comprises this chapter. 1983—Subsec. (d). Pub. L. 98–181 substituted ‘‘With re- spect to a real property loan secured by a lien on resi- dential real property containing less than five dwelling units, including a lien on the stock allocated to a dwelling unit in a cooperative housing corporation, or on a residential manufactured home, a lender’’ for ‘‘A lender’’. Federal Home Loan Bank Board abolished and func- tions transferred, see sections 401 to 406 of Pub. L. 101–73, set out as a note under section 1437 of this title. For termination of Trust Territory of the Pacific Is- lands, see note set out preceding section 1681 of Title 48, Territories and Insular Possessions.

Balloon Payments. The City will not issue any TIF Bonds which qualify as Balloon Indebtedness, as defined in the following sentence. Balloon Indebtedness shall mean any series of TIF Bonds, twenty-five percent (25%) or more of the original principal of which is to be paid during one fiscal year; provided such term excludes: (a) a series of TIF Bonds maturing within one year of its date of issue, or (b) a series of TIF Bonds which is payable over its term in approximately level amounts (i.e., not varying by more than 10% from highest to lowest) of principal and interest in each fiscal year.

Balloon Payments. Any Indebtedness of the Company (which shall, in any event, be subject to the limitations contained in Section 6.6(viii) of this agreement) which is not fully amortized in equal payments over a period of not more than 30 years, shall have a maturity date (due date) which is not earlier than ten years after the date of the original purchase of the underlying property. The Company may not incur indebtedness of any kind, including all-inclusive and wrap-around loans and interest-only loans, in connection with the purchase of a Property. The provisions of this Section 6.11 shall not apply (but the provisions of section 6.6(viii) shall apply) to indebtedness representing, in the aggregate, 10% or less of the total purchase price of all Properties acquired, or to interim financing, including construction financing, with a full take- out commitment.

Balloon Payments. Except as reflected on Schedule 2 hereof, as of the Closing Date, there are no balloon payments, scheduled balloon amortizing payments or scheduled amortizing payments required to be paid at any time in respect of any Indebtedness (other than Permissible Assumed Indebtedness) of the Borrower or its Subsidiaries.

Balloon Payments. Except as reflected on Schedule 4 hereof, as of the Closing Date, there are no balloon payments, scheduled balloon amortizing payments or scheduled amortizing payments required to be paid at any time in respect of any Indebtedness (other than Permissible Assumed Indebtedness) of the Borrower or its Subsidiaries.

Balloon Payments. At Closing, the Company shall not be ---------------- obligated under any balloon or other extraordinary payments due or payable (or paid) by the Company, Parent or Sub as severance, change-of-control or other "parachute" provisions.

Balloon Payments. To keep payments artificially low, a balloon payment may be required at some point during the loan. For example, a ten year loan might have 119 very affordable payments followed by a single (balloon) payment that is equal to the full amount of the funds borrowed.

Balloon Payments. Household shall provide borrowers with a new loan disclosure form, substantially in the form of Appendix A, that more clearly informs borrowers of real estate secured revolving lines of credit in plain language, that making minimum payments will not fully amortize the loan by the end of its term and will result in a balloon payment at the end of the term. The disclosure will also state the full amount of the balloon payment and the monthly payment required to pay off the loan by the end of the term if no further advances other than any initial advance are taken.

Balloon Payments. It is anticipated that the loans obtained to acquire or refinance the Projects may have short terms and will require the Company to make balloon payments on the maturity dates of the loans. If the Company is unable to make a balloon payment or to refinance a loan for any reason or at reasonable cost, the ownership of a Project could be jeopardized.