Authorized Loan Payments definition

Authorized Loan Payments means those payments of principal and interest made by the Trustee, for and on behalf of the First Nation, to a Financial Institution in respect of an Authorized Loan that is approved pursuant to Article 7;
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Authorized Loan Payments means those payments of principal and interest made by the Trustees to a Financial Institution for and on behalf of WRFN in respect of an Authorized Loan that is approved by the Council in accordance with Article 20 of the Trust Agreement;
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Authorized Loan Payments means those payments of principal and interest made by the Trustee in respect of an Authorized Loan;
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Examples of Authorized Loan Payments in a sentence

  • An Authorized Loan cannot exceed 50% of the value of the Trust Property at the time the Authorized Loan is taken out, and the amount of the Authorized Loan Payments in each Fiscal Year cannot exceed 80% of the projected Annual Income for the Fiscal Year.

  • For greater certainty, any Authorized Loan Payment made by the Trustee for and on behalf of the Beneficiary is a distribution, payment and allocation of income to the Beneficiary that the Beneficiary is hereby, for convenience, directing the Trustee to pay directly to the Financial Institution or the First Nations Finance Authority, as applicable, and as such, any Authorized Loan Payments shall be deductible to the Trust for income tax purposes as if that payment had been made directly to the Beneficiary.

  • The Legacy Trust then pays an Annual Payment, which can be used to fund band management activities or to make Authorized Loan Payments.

  • Subject to and in accordance with the Sovereign Wealth Fund, the Council is authorized to use the Annual Income as collateral for an Authorized Loan and to assign or direct the Trustee to use all or any portion of the Annual Income to make Authorized Loan Payments as they become due and payable.

  • In accordance with the Trust Agreement, the Trustee shall pay all Authorized Expenses and Authorized Loan Payments on behalf of the Corporation from Annual Income directly from the Trust Account.

  • The amount of all Authorized Loans (at the time they are made) cannot exceed 40%-50% of the Value of Trust Property and the amount of all Authorized Loan Payments must be less than 80% of the Annual Payment to avoid depletion of the trust.

  • For greater certainty, any Authorized Loan Payments shall continue to be made by the Trustee regardless of whether the Annual Plan and Budget for any Fiscal Year is approved by the Council.

  • Subject to Article 10, the Trustee shall pay all Authorized Loan Payments and payments pursuant to an Authorized Loan Guarantee from the Trust Account as and when they become due and payable.

  • Under the Trust Agreement, the LRRCN Sovereign Wealth Fund may be used as security to take out Authorized Loans (at or around the prime interest rate, which is currently 3.7%) of up to $119 million of the Trust Property on the condition that the Annual Income flowing from the LRRCN Sovereign Wealth Fund to the Nation’s Revenue Account is sufficient to make the Authorized Loan Payments at the time the Authorized Loan is secured.

  • As an example, 1needs 6 seconds to execute J2, incurring a cost of 4 units.

Related to Authorized Loan Payments

  • Loan Payments means the amounts required to be paid by the Company in repayment of the Loan pursuant to Section 4.1 hereof.

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Group I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Subordinated Loans means any loan incurred by the Issuer or any of its Subsidiaries, if such loan (i) according to its terms (or pursuant to a subordination agreement on terms and conditions satisfactory to the Trustee) is subordinated to the obligations of the Issuer under the Terms and Conditions; (ii) according to its terms have a final redemption date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date; and (iii) according to its terms yield only payment-in-kind interest.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group I-A Distribution Amount for the Class I-A-11 Certificates required to be distributed to Holders of the Class I-A-11 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group I-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class I-A-11 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class I-A-11 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Servicing Advance Reimbursement Amounts As defined in Section 3.22.

  • Group II Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • Loan Payment means any amount payable by the Loan Parties to the Bank pursuant to the Legal Agreements or these General Conditions, including (but not limited to) any amount of the Withdrawn Loan Balance, interest, the Front-end Fee, interest at the Default Interest Rate (if any), any prepayment premium, any transaction fee for a Conversion or early termination of a Conversion, any premium payable upon the establishment of an Interest Rate Cap or Interest Rate Collar, and any Unwinding Amount payable by the Borrower.”

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Related Loan Group For Group 1, Loan Group 1; for Group 2, Loan Group 2; for Group 3, Loan Group 3; and for Group 4, Loan Group 4.

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Group II Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group II Loans.

  • Monthly Advances Principal and interest advances and servicing advances including costs and expenses of foreclosure.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Servicing Advances All customary, reasonable and necessary "out of pocket" costs and expenses incurred in the performance by the Master Servicer of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property, (ii) any expenses reimbursable to the Master Servicer pursuant to Section 3.11 and any enforcement or judicial proceedings, including foreclosures, (iii) the management and liquidation of any REO Property and (iv) compliance with the obligations under Section 3.09.