Average Monthly Loan Balance definition

Average Monthly Loan Balance means, for any calendar month, the quotient obtained by dividing (a) the sum of the unpaid principal balance of all Loans outstanding for each day during such month by (b) the number of days in such month.
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Average Monthly Loan Balance the amount obtained by adding the aggregate unpaid balance of all Loans and Letter of Credit Obligations owing by Borrower to Lender at the end of each day during the month in question and by dividing that sum by the number of days in such month. Bank - Fleet National Bank, a national banking association, and its successors and assigns. Base Rate - the rate of interest generally announced or quoted by Bank from time to time as its base rate for commercial loans, whether or not such rate is the lowest rate charged by Bank to its most preferred borrowers; and, if such base rate for commercial loans is discontinued by Bank as a standard, a comparable reference rate designated by Bank as a substitute therefor shall be the Base Rate.
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Average Monthly Loan Balance means the amount obtained by adding the unpaid balance of Revolver Loans and Letter of Credit Obligations owing by Borrower to Lender at the end of each day for each day during the month in question and by dividing such sum by the number of days in such month.
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Examples of Average Monthly Loan Balance in a sentence

  • Borrower shall pay to Lender a fee equal to the Applicable Margin then in effect for the unused line fee times the amount by which the Revolver Facility Amount less the amount of Availability, if any, required to be maintained pursuant to Section 9.3.3 hereof, exceeds the Average Monthly Loan Balance.

  • If, during the period ending April 30, 2001, either the Borrower shall terminate the Commitment pursuant to Section 2.7 hereof or the Average Monthly Loan Balance during any calendar month is less than 10% of the Commitment amount, Borrower shall immediately pay Lender a fee equal to 2% of the Commitment amount.

  • Borrower acknowledges that the administrative costs associated with the financing to be extended to Borrower under this Agreement are such that Lender cannot continue to finance Borrower at a level of profitability at the rates provided for herein in the event that the Average Monthly Loan Balance is less than the Minimum Loan Balance.

  • Borrower shall pay to Lender a monthly fee equal to three-eighths of one percent (0.375%) per annum of the amount by which the Total Commitment exceeds the Average Monthly Loan Balance.

  • In no event, however, shall any charge be payable (i) for any month for which the Average Monthly Loan Balance was less than $26,500,000 by reason of Lender's declining to extend Loans to Borrower in amounts equal to the Borrowing Base, to the extent of such refusal, or (ii) for any month during which or after Lender accelerates the maturity or demands payment of the Obligations by reason of the occurrence of any Event of Default.

  • Borrower shall pay to Agent each month, on the first day of the month, commencing October 1, 2001, a fee equal to .125% per annum of the amount by which the Average Monthly Loan Balance for the immediately preceding month is less than the maximum dollar amount of the Commitments in effect at any date of determination.

  • Accordingly, Borrowers shall be jointly and severally obligated to pay to Lender each month interest on the greater of the Minimum Loan Amount or the Average Monthly Loan Balance for such month (or portion thereof that this Agreement is in effect).

  • Borrowers shall pay to Lender a fee equal to one- --------------- half percent (0.5%) per annum of the amount by which the sum of the Average Monthly Loan Balance is less than the Revolving Credit Loan Commitment.

  • Each Borrower acknowledges that the administrative costs associated with the Loans and other financing provided to Borrowers under this Agreement are such that Lender cannot finance Borrowers profitably at the interest rates provided for herein in the event that the Average Monthly Loan Balance is less than $5,000,000 (the "Minimum Loan Amount").

  • Accordingly, Borrower agrees to pay to Lender each month interest on the greater of the Minimum Loan Balance or the Average Monthly Loan Balance for such month.


More Definitions of Average Monthly Loan Balance

Average Monthly Loan Balance the amount obtained by adding the aggregate unpaid balance of all Loans owing by Borrower to Lender at the end of each day during the month in question and by dividing that sum by the number of days in such month. Bank - Shawmut Bank Connecticut, N.A. Base Rate - the rate of interest announced or quoted by Bank from time to time as its prime rate for commercial loans, whether or not such rate is the lowest rate charged by Bank to its most preferred borrowers; and, if such prime rate for commercial loans is discontinued by Bank as a standard, a comparable reference rate designated by Bank as a substitute therefor shall be the Base Rate. Borrowing Base - as at any date of determination thereof, an amount equal to the lesser of:
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Related to Average Monthly Loan Balance

  • Loan Balance means, at any time, the outstanding principal balance of the Note at such time.

  • Aggregate Loan Balance At any date of determination, the outstanding principal balance of the Mortgage Loans serviced hereunder.

  • Applicable Monthly Payment For any Mortgage Loan (including an Outside Serviced Mortgage Loan) with respect to any month (including any such Mortgage Loan as to which the related Mortgaged Property has become an REO Property), the Monthly Payment; provided, however, that for purposes of calculating the amount of any P&I Advance required to be made by the Master Servicer or the Trustee, notwithstanding the amount of such Applicable Monthly Payment, interest shall be calculated at the Mortgage Rate less the Servicing Fee Rate and, if applicable, shall be exclusive of Excess Interest; and provided, further, that for purposes of determining the amount of any P&I Advance, the Monthly Payment shall be as reduced pursuant to any modification of a Mortgage Loan pursuant to Section 3.24 of this Agreement or pursuant to the applicable Outside Servicing Agreement, or pursuant to any bankruptcy, insolvency, or other similar proceeding involving the related Mortgagor.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Loan Group Balance As to each Loan Group, the aggregate of the Stated Principal Balances of the Mortgage Loans in such Loan Group that were Outstanding Mortgage Loans at the time of determination.

  • Outstanding Loan Balance means the principal amount of your full-time Direct Loans outstanding at any time, including any Canada Student Grant amount(s) converted to a Direct Loan, together with all interest on those amounts.

  • Adjusted Pool Balance means, on the Closing Date, an amount equal to:

  • Net Purchased Loan Balance means, as of any date of determination, an amount equal to (a) the aggregate principal balance of all Portfolio Investments acquired by the Company prior to such date minus (b) the aggregate principal balance of all Portfolio Investments repurchased by the Parent or an Affiliate thereof prior to such date.

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Applicable Unscheduled Principal Receipt Period With respect to the Mortgage Loans serviced by each Servicer and each of Full Unscheduled Principal Receipts and Partial Unscheduled Principal Receipts, the Unscheduled Principal Receipt Period specified on Schedule I hereto, as amended from time to time by the Master Servicer pursuant to Section 10.01(b) hereof.

  • Aggregate Outstanding Loan Balance means on any day, the sum of the Outstanding Loan Balances of all Eligible Loans included as part of the Collateral on such date.

  • Weighted Average Net Mortgage Rate With respect to any Distribution Date, the weighted average of the applicable Net Mortgage Rates of the Mortgage Loans as of the first day of the related Due Period, weighted on the basis of their respective Stated Principal Balances as of the first day of such Due Period (after giving effect to any payments received during any applicable grace period).

  • Total Monthly Excess Spread As to any Distribution Date, an amount equal to the excess if any, of (i) the interest on the Mortgage Loans received by the Servicer on or prior to the related Determination Date or advanced by the Servicer for the related Remittance Date (net of Expense Fees) over (ii) the sum of the amounts payable to the Certificates pursuant to Section 4.02(a)(i) on such Distribution Date.

  • Aggregate Loan Group Balance As to any Loan Group and as of any date of determination, will be equal to the aggregate of the Stated Principal Balances of the Mortgage Loans in that Loan Group, except as otherwise provided, as of the last day of the related Collection Period.

  • Weighted Average Adjusted Net Mortgage Rate For any Distribution Date and Loan Group, the average of the Adjusted Net Mortgage Rate of each Mortgage Loan in that Loan Group, weighted on the basis of its Stated Principal Balance as of the Due Date in the prior month (after giving effect to Principal Prepayments in the Prepayment Period related to such prior Due Date).

  • Servicing Fee Percentage With respect to each Mortgage Loan, the percentage specified on the Servicer Mortgage Loan Schedule.

  • Weighted Average Spread means, as of any day, the number expressed as a percentage equal to (i) the Aggregate Funded Spread divided by (ii) the Aggregate Eligible Collateral Obligation Amount (excluding any interest that has been deferred and capitalized on any Deferrable Collateral Obligation).

  • Sixty-Day Delinquency Rate With respect to any Distribution Date on or after the Stepdown Date, a fraction, expressed as a percentage, the numerator of which is the aggregate Stated Principal Balance of all Mortgage Loans 60 or more days delinquent as of the close of business on the last day of the calendar month preceding such Distribution Date (including Mortgage Loans in foreclosure, bankruptcy and REO Properties) and the denominator of which is the aggregate Stated Principal Balance for such Distribution Date of the Mortgage Loans as of the related Due Date (after giving effect to Principal Prepayments, the principal portion of any Liquidation Proceeds and any Subsequent Recoveries received in the related Prepayment Period).

  • Prepaid Monthly Payment Any Monthly Payment received prior to its scheduled Due Date, which is intended to be applied to a Mortgage Loan on its scheduled Due Date and held in the related Custodial Account for P&I until the Withdrawal Date following its scheduled Due Date.

  • Rolling Three Month Delinquency Rate With respect to any Distribution Date, the fraction, expressed as a percentage, equal to the average of the Delinquency Rates for each of the three (or one and two, in the case of the first and second Distribution Dates, respectively) immediately preceding calendar months.

  • Excess Servicing Fee Rate The rate of 0.0% per annum with respect to each Mortgage Loan.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Monthly Loss Amount means the sum of all Foreclosure Losses, Restructuring Losses, Short Sale Losses, Portfolio Losses, Modification Default Losses and Deficient Losses realized by the Assuming Institution for any Shared Loss Month.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.