Mortgage Product Clause Samples

The 'Mortgage Product' clause defines the specific type of mortgage loan being offered under the agreement. It typically outlines key features such as whether the interest rate is fixed or variable, the loan term, and any special repayment options or conditions. By clearly specifying the nature and terms of the mortgage, this clause ensures both parties understand the financial product being provided, reducing the risk of misunderstandings and disputes regarding the loan's structure.
Mortgage Product. Any of the kinds of loans we offer with a fixed or variable interest rate, and an open term or a closed term, and which are secured by a mortgage on real estate.
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Mortgage Product. Any of the kinds of loans we offer with a fixed or variable interest rate, and an open term or a closed term, and which are secured by a mortgage on real estate. Open or closed term. If the mortgage gives you, at all times during the term of the loan, the right to prepay all of what is owed without a prepayment charge, the mortgage product is open. Otherwise, the mortgage product is closed. A Convertible term is closed. We sometimes use the words "limited prepayment" for "closed." Payout statement. This is a statement we issue that shows the amount that we project will be required to prepay all of what is owed on a given date. Posted interest rate. This is the yearly interest rate that we fix from time to time for loans for residential properties in Canada secured by mortgages or guaranteed by hypothecs for each mortgage product we offer and designated as our "posted rate" for each mortgage product.
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Mortgage Product. You have a term.
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Related to Mortgage Product

  • Licensed Product The term “Licensed Product” shall mean any product (a) the manufacture, use, importation, sale or offer for sale of which would, in the absence of the license granted by this Agreement, infringe a Valid Claim of any of the Licensed Patent Rights, or (b) that is comprised of, utilizes or incorporates Licensed Biological Materials, or (c) that is discovered, developed or made using a Licensed Process.

  • Random Drug Testing All employees covered by this Agreement shall be subject to random drug testing in accordance with Appendix D.

  • SINGLE-USE PRODUCTS The Board of County Commissioners has established a single-use products and plastic bags policy intended to reduce the use of products which have become globally recognized as having lasting negative impacts on the environment. Neither single-use products nor plastic bags may be sold or disbursed on County property by staff or contracted vendors, except as set forth in Orange County Administrative Regulation 9.01.03. Failure to comply with the Regulation may result in termination of the contract or other contractual remedies, and may affect future contracting with the County. The use of reusable, recyclable, biodegradable, or compostable materials is encouraged.

  • Product Testing No later than [**] prior to a scheduled Delivery ARIAD US shall send to ARIAD SWISSCO the Delivery Documents for review. Following such review, unless within [**] of receipt of the Delivery Documents ARIAD SWISSCO gives written notice of rejection of the Product to be delivered, stating the reasons for such rejection, the Delivery shall proceed, and both Parties shall organize the same. Upon arrival at ARIAD SWISSCO nominated site it shall visually inspect the shipment of the Product to identify any damage to the external packaging. ARIAD SWISSCO may reject any shipment (or portion thereof) of the Product that is damaged by providing to ARIAD US reasonable evidence of damage within [**] after Delivery of such Product. If ARIAD SWISSCO does not so reject any shipment (or portion thereof) of the Product within [**] of Delivery of such Product, ARIAD SWISSCO shall be deemed to have accepted such shipment of the Product; provided, however, that in the case of the Product having any Latent Defect, ARIAD SWISSCO shall notify ARIAD US promptly once it becomes aware that a Product contains a Latent Defect and subsequently may reject such Product by giving written notice to ARIAD US of ARIAD SWISSCO’s rejection of such Product and shipping a representative sample of such Product or other evidence of Non-Conformance to ARIAD US within [**] after becoming aware of such Latent Defect, which notice shall include a description of the Latent Defect.

  • Product NYISO will provide Energy Resource Interconnection Service and Capacity Resource Interconnection Service to Developer at the Point of Interconnection.