INTEREST RATES ON MORTGAGE LOANS Sample Clauses

INTEREST RATES ON MORTGAGE LOANS. 4.1 Pursuant to Clause 6.6 of the Guarantee Support Agreement, the CBC has agreed with the Transferor that the Transferor, whether for itself or on behalf of the CBC, shall determine and set the interest rates on the Mortgage Loans in accordance with the Mortgage Conditions and Dutch law. 4.2 Subject to Clauses 4.3, 4.4 and 4.4 below, if at any time the Transferor no longer sets the interest rates on the Mortgage Loans for any reason, the CBC and the Security Trustee grant full right, liberty and authority to the Servicer on behalf of the CBC or, as the case may be, the Security Trustee, to determine and set the interest rates on the Mortgage Loans in accordance with the Mortgage Conditions and Dutch law following notification to the Borrowers of the assignment and/or pledge of the Mortgage Receivables. 4.3 Subject to Clause 4.4 below, the Servicer covenants with the CBC and the Security Trustee that until the CBC and the Security Trustee have no further interests in the Mortgage Receivables, it will not at any time set the interest rates on the Mortgage Loans at a level which is materially below or above the current market rates at such time as offered by the Reference Mortgage Lenders for loans which are comparable in all material respects to such Mortgage Loans. 4.4 The Servicer, acting on behalf of the Issuer, will, following notification to the relevant Borrowers of the assignment of the Mortgage Receivables, only offer the relevant Borrowers in respect of Mortgage Loans (or the relevant loan part thereof) an interest rate for the next succeeding interest rate period (rentevastperiode) which is at least equal to the Minimum Mortgage Interest Rate, subject to the Mortgage Conditions and subject to applicable law (including, without limitation, principles of reasonableness and fairness). 4.5 Each of the Security Trustee and the CBC may at any time terminate the authority of the Servicer to determine and set the interest granted under Clause 4.2.
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INTEREST RATES ON MORTGAGE LOANS. The Servicer must, as part of its function of servicing the Mortgage Loans, set the interest rate charged and the monthly instalment to be paid by the Borrower on each Mortgage Loan forming part of the Assets of the Series Trust. The Servicer must ensure that the monthly instalment to be paid in relation to each Mortgage Loan is equal to or greater than the monthly interest payable on that Mortgage Loan (but without limiting any right of the Borrower to pay less than the monthly instalment, or no monthly instalment, where the amount outstanding under the Mortgage Loan is less than the Scheduled Balance of the Mortgage Loan). For so long as CBA is the Servicer, such interest rate must be the interest rate which the relevant Seller charges on the same type of mortgage loan (having regard, among other things, to the nature of the Mortgage Loan product and the type of borrower) which is recorded on its Mortgage Loan System but which has not been assigned to the Trustee, unless this Deed requires the Servicer to charge a different interest rate in respect of that Mortgage Loan.
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INTEREST RATES ON MORTGAGE LOANS. 77 16.8 Release or Substitution of Security...................................................... 77 16.9 Variation or Relaxation of Terms of Mortgage Loans....................................... 77 16.10
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INTEREST RATES ON MORTGAGE LOANS. 77 16.8 Release or Substitution of Security...................................................... 77 16.9 Variation or Relaxation of Terms of Mortgage Loans....................................... 77 16.10
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Related to INTEREST RATES ON MORTGAGE LOANS

  • Interest Rates All outstanding Term Loans to the Borrower shall bear interest on the unpaid principal amount thereof (including, to the extent permitted by law, on interest thereon not paid when due) from the date made until paid in full in cash at a rate determined by reference to the Base Rate or Adjusted Term SOFR plus the Applicable Margin, but not to exceed the Maximum Rate. If at any time Term Loans are outstanding with respect to which the Borrower has not delivered to the Agent a notice specifying the basis for determining the interest rate applicable thereto in accordance herewith, those Term Loans shall be treated as Base Rate Loans until notice to the contrary has been given to the Agent in accordance with this Agreement and such notice has become effective. Except as otherwise provided herein, the Term Loans shall bear interest as follows: (i) For all Base Rate Loans, at a fluctuating per annum rate equal to the Base Rate plus the Applicable Margin; and (ii) For all SOFR Rate Loans, at a fluctuating per annum rate equal to Adjusted Term SOFR plus the Applicable Margin. Each change in the Base Rate (or any component thereof) shall be reflected in the interest rate applicable to Base Rate Loans as of the effective date of such change. All computations of interest for Base Rate Loans when the Base Rate is determined by the “prime rate” shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). On the last Business Day of each calendar quarter hereafter and on the Termination Date, the Borrower shall pay to the Agent, for the ratable benefit of the Lenders, interest accrued from the last Business Day of the preceding calendar quarter to the last Business Day of such calendar quarter (or accrued to the Termination Date in the case of a payment on the Termination Date) on all Base Rate Loans in arrears. The Borrower shall pay to the Agent, for the ratable benefit of the Lenders, interest on all SOFR Rate Loans in arrears on each SOFR Interest Payment Date.

  • Servicing of Mortgage Loans From and after the Effective Date, the Servicer does hereby agree to service the Mortgage Loans, but subject to the terms of this Agreement. The rights of the Owner to receive payments with respect to the Mortgage Loans shall be as set forth in this Agreement.

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