Constant Monthly Payment definition

Constant Monthly Payment means a payment equal to $342,947.22.
Sample 1
Constant Monthly Payment means a payment equal to $373,639.00.
Sample 1
Constant Monthly Payment means a payment equal to Twenty-Six Thousand Twenty-Two and 62/100 Dollars (26,022.82).
Sample 1

Examples of Constant Monthly Payment in a sentence

  • In the event of any permitted partial prepayment of the principal balance of this Note, the amount of principal prepaid (but not including any Prepayment Consideration or interest) shall be applied to the principal last due under this Note and shall not release Borrower from the obligation to pay the Constant Monthly Payments next becoming due under this Note and the Constant Monthly Payment shall not be adjusted or recalculated as a result of such partial prepayment.

  • The term "Payment Differential" as used herein shall be equal to (x) the Applicable Interest Rate minus the Reinvestment Yield, divided by (y) 12 and multiplied by (z) the principal sum outstanding on such Prepayment Date after application of the Constant Monthly Payment (if any) due on such Prepayment Date, provided that the Payment Differential shall in no event be less than zero.

  • The Constant Monthly Payment shall be due from Borrower to Lender on each Monthly Payment Date, with each Constant Monthly Payment to be applied as follows: (i) first, to the payment of interest which has accrued during the preceding calendar month computed at the Applicable Interest Rate, and (ii) the balance toward the reduction of the principal sum.

  • The term "Payment Differential" as used herein shall be equal to (x) the Applicable Interest Rate minus the Reinvestment Yield, divided by (y) 12 and multiplied by (z) the principal sum outstanding after application of the Constant Monthly Payment due on such Prepayment Date, provided that the Payment Differential shall in no event be less than zero.

  • The Constant Monthly Payment shall be due from Borrower to Lender on each Monthly Payment Date, with each Constant Monthly Payment to be applied as follows: (i) first, to the payment of interest which has accrued during the preceding Accrual Period computed at the Applicable Interest Rate, and (ii) the balance toward the reduction of the principal sum.

  • The term "Constant Monthly Payment" as used herein shall mean a payment equal to $87,547.60.

  • The term "Payment Differential" as used herein shall be equal to (z) the Applicable Interest Rate minus the Reinvestment Yield, divided by (y) 12 and multiplied by (z) the principal sum outstanding after application of the Constant Monthly Payment due on such Prepayment Date, provided that the Payment Differential shall in no event be less than zero.

  • In the event of any permitted partial prepayment of the principal balance of this Note, the amount of principal prepaid (but not including any Prepayment Consideration or interest) shall be applied to the principal last due under this Note and shall not release Maker from the obligation to pay the Constant Monthly Payments next becoming due under this Note and the Constant Monthly Payment shall not be adjusted or recalculated as a result of such partial prepayment.

  • The Constant Monthly Payment shall be due from Borrower to Lender on each Monthly Payment Date, with each Constant Monthly Payment to be applied to the payment of interest scheduled to accrue during the next succeeding calendar month computed at the Applicable Interest Rate.


More Definitions of Constant Monthly Payment

Constant Monthly Payment means a payment equal to Nineteen Thousand Two Hundred Twenty and 84/100 Dollars ($19,220.84).
Sample 1
Constant Monthly Payment means a payment equal to $367,731.61.
Sample 1
Constant Monthly Payment means a payment equal to the lesser of (i) $178,750.00, and (ii) Available Cash (as defined in the Net Lease), subject to reduction in accordance with Section 3.2 or Section 3.3 of the Security Instrument, and provided that, from and after the date that a Recognized Leasehold Mortgagee (as defined in the Net Lease) shall accelerate the repayment of a loan secured by a Recognized Leasehold Mortgage (as defined in the Net Lease), the Constant Monthly Payment shall be reduced to One Dollar and 00/100 ($1.00).
Sample 1
Constant Monthly Payment means an interest only payment as determined by Lender as described in Section 2.2 hereof.
Sample 1
Constant Monthly Payment as used in this Note shall mean a payment equal to $64,936.44.
Sample 1

Related to Constant Monthly Payment

  • Monthly Payment The scheduled monthly payment of principal and interest on a Mortgage Loan.

  • 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.

  • 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.

  • Minimum Monthly Payment for any Mortgage Loan and any month means the minimum amount required to be paid by the related mortgagor in that month.

  • Assumed Monthly Payment With respect to (a) any Mortgage Loan that is a Balloon Mortgage Loan delinquent in respect of its Balloon Payment beyond the Determination Date immediately following its scheduled maturity date (as such date may be extended in connection with a bankruptcy, insolvency or similar proceeding involving the related Borrower or by reason of a modification, waiver or amendment granted or agreed to by the Master Servicer or the Special Servicer), for that scheduled maturity date and for each subsequent Due Date as of which such Mortgage Loan remains outstanding and part of the Trust Fund, the scheduled monthly payment of principal and/or interest deemed to be due with respect to such Mortgage Loan on such Due Date equal to the amount (exclusive of Default Interest and any Post-ARD Additional Interest) that would have been due in respect thereof on such Due Date if such Mortgage Loan had been required to continue to accrue interest in accordance with its terms, and to pay principal in accordance with the amortization schedule (if any), in effect immediately prior to, and without regard to the occurrence of, such maturity date; and (b) any REO Mortgage Loan, for any Due Date as of which the related REO Property (or, in the case of any REO Mortgage Loan that is a successor to any Mortgage Loan in a Loan Combination, any interest in the related REO Property) remains part of the Trust Fund, the scheduled monthly payment of principal and/or interest deemed to be due in respect thereof on such Due Date equal to the Monthly Payment (or, in the case of a Balloon Mortgage Loan described in clause (a) of this definition, the Assumed Monthly Payment) that was due (or deemed due) with respect to the related Mortgage Loan on the last Due Date prior to its becoming an REO Mortgage Loan.

  • Monthly Payment Rate means, for any Monthly Period, a fraction (expressed as a percentage), (a) the numerator of which is the Principal Collections during such Monthly Period, and (b) the denominator of which is the Combined Outstanding Principal Balances as of the beginning of such Monthly Period.

  • Monthly Payment Date means the Payment Date (as defined in the Mortgage Loan Documents).

  • Monthly Payment Amount means, with respect to each Payment Date, a payment equal to the amount of interest which has accrued during the related Interest Accrual Period, computed at the Interest Rate.

  • Monthly Payments has the meaning set forth in Section 7.2B.

  • Monthly P&I means, with respect to any Receivable, the amount of each monthly installment of principal and interest payable with respect to such Receivable in accordance with the terms thereof, exclusive of any charges allocable to the financing of any insurance premium and charges which represent late payment charges or extension fees.

  • Monthly Payment Advance means, with respect to any 20[•]-[•] Lease and any Collection Period, an amount equal to the difference between the Monthly Payment due and the Lessee Partial Monthly Payment.

  • Monthly P&I Advance An advance of funds by the Master Servicer pursuant to Section 4.02 or a Servicer pursuant to its Selling and Servicing Contract to cover delinquent principal and interest installments.

  • Initial Monthly Payment Fund An amount representing scheduled principal amortization and interest at the Net Mortgage Rate for the Due Date in the first Due Period commencing subsequent to the Cut-off Date for those Mortgage Loans for which the Trustee will not be entitled to receive such payment, and as more specifically defined in the Series Supplement.

  • Payment month means, for all programs except EA, the calendar month for which benefits are issued.

  • Balloon Payment shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Interest Remittance Amount For any Distribution Date and Loan Group, an amount equal to the sum of (1) all interest collected (other than related Payaheads, if applicable) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Loan Group during the related Collection Period, the interest portion of Payaheads previously received and intended for application in the related Collection Period and the interest portion of all Payoffs and Curtailments received on the Mortgage Loans in such Loan Group during the related Prepayment Period (other than interest on Principal Prepayments that occur during the portion of the Prepayment Period that is in the same calendar month as the related Distribution Date), less (x) the Servicing Fees (other than any Excess Servicing Fee) and any lender paid Primary Insurance Policy premiums with respect to such Mortgage Loans and (y) unreimbursed Advances and other amounts due to a Servicer, the Back-Up Servicer or the Trustee with respect to such Mortgage Loans, to the extent allocable to interest, (2) all Compensating Interest Payments paid by a Servicer with respect to the related Mortgage Loans with respect to such Distribution Date, (3) the portion of any Substitution Adjustment Amount and Repurchase Price paid with respect to such Mortgage Loans during the calendar month immediately preceding the Distribution Date, in each case allocable to interest and the proceeds of any purchase of the Mortgage Loans by the Terminating Entity pursuant to Section 9.01 in an amount not exceeding the interest portion of the Par Value, (4) all Net Liquidation Proceeds, and any Insurance Proceeds and other recoveries (net of unreimbursed Advances, Servicing Advances and expenses, to the extent allocable to interest, and unpaid Servicing Fees) collected with respect to such Mortgage Loans during the prior calendar month, to the extent allocable to interest, (5) any amounts withdrawn from the Capitalized Interest Amount to pay interest on the related Certificates with respect to such Distribution Date and (6) the aggregate Excess Servicing Fee to be distributed to the Class A-IO-S Certificates.

  • 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.

  • Monthly Remittance Amount The sum of the Group I Monthly Remittance Amount and the Group II Monthly Remittance Amount.

  • Group I Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group I Principal Distribution Amount.

  • Optimal Interest Remittance Amount For any Distribution Date, the excess of (i) the product of (1) (x) the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the related Due Period less the Premium Percentage, divided by (y) 12 and (2) the applicable Aggregate Collateral Balance for the immediately preceding Distribution Date, over (ii) any expenses that reduce the Interest Remittance Amount that do not arise as a result of a default or delinquency of the Mortgage Loans.

  • Monthly Total Principal Allocation means for any Related Month the sum of all Series 2015-3 Principal Allocations with respect to such Related Month.

  • Seller Remittance Amount With respect to each Servicer, the meaning assigned to such term in the related Servicing Agreement.

  • Principal Remittance Amount With respect to any Distribution Date, the sum of the Group I Principal Remittance Amount and the Group II Principal Remittance Amount.

  • Remittance Amount means the funds denominated in Singapore Dollars or United Stated Dollars which is to be debited from the Customer's Account(s) and converted into the specified Foreign Amount.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • Contract Month means the expiry month January, February, March, April, May, June, July, August, September, October, November, .