Examples of Bank Savings Mortgage Loan in a sentence
The Mortgage Loan to which a Mortgage Receivable relates is either an Interest-only Mortgage Loan, an Annuity Mortgage Loan, a Linear Mortgage Loan, an Investment Mortgage Loan, a Life Mortgage Loan, a Savings Mortgage Loan, a Bank Savings Mortgage Loan or a Revolving Credit Mortgage Loan, or any combination of the foregoing.
Under or pursuant to the Mortgage Receivables Purchase Agreement, the Seller warrants and represents in relation to each Mortgage Receivable which is related to an Interest-only Mortgage Loan, an Annuity Mortgage Loan, a Linear Mortgage Loan, a Bank Savings Mortgage Loan or a Revolving Credit Mortgage Loan, that the relevant Mortgage Receivable does not relate to any investment product or Mixed Insurance Policy.
Each Bank Savings Mortgage Loan has the benefit of the balances standing to the credit of the relevant Bank Savings Account, which is held with the Bank Savings Participant.
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Under or pursuant to the Mortgage Receivables Purchase Agreement, the Seller warrants and represents in relation to each Mortgage Receivable which is related to an Interest- only Mortgage Loan, an Annuity Mortgage Loan, a Linear Mortgage Loan, a Bank Savings Mortgage Loan or a Revolving Credit Mortgage Loan, that the relevant Mortgage Receivable does not relate to any investment product or Mixed Insurance Policy.
Such excess amount could include any future entitlement of a Borrower in the Transferor's bankruptcy to a bonus amount under a Bank Savings Mortgage Loan which has not accrued.
The Monthly Bank Savings Deposit Instalment is calculated in such a manner that, on an annuity basis, the balance standing to the credit of the Bank Savings Account is equal to the amount due upon maturity of the Bank Savings Mortgage Loan.
The Bank Savings Deposit is calculated in such a manner that, on an annuity basis, the balance standing to the credit of the Bank Savings Account is equal to the relevant part of the amount due by the Borrower to the relevant Originator at maturity of the Bank Savings Mortgage Loan.
The term Net Outstanding Principal Amount shall mean, in respect of a Participation- Linked Mortgage Loan or Bank Savings Mortgage Loan, the Outstanding Principal Amount thereof minus the Savings Participation or Bank Savings Participation respectively, therein.
Under a Bank Savings Mortgage Loan the Borrower does not pay principal prior to maturity of the Mortgage Loan, but instead makes a deposit into the relevant blocked Bank Savings Account on a monthly basis.