Credit Comeback Loan definition

Credit Comeback Loan. Any Fixed Rate Mortgage Loan for which the related Mortgage Rate is subject to reduction (not exceeding 0.375% per annum) for good payment history of Scheduled Payments by the related Mortgagor.
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Credit Comeback Loan. As defined in the Prospectus.
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Credit Comeback Loan. Any Mortgage Loan identified as such on the Mortgage Loan Schedule for which the related Mortgage Rate is subject to reduction for good payment history of Scheduled Payments by the related Mortgagor.
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Examples of Credit Comeback Loan in a sentence

  • If the Fixed Rate Credit Comeback Loan borrower makes Scheduled Payments in full during such twelve-month period with a maximum of one late payment (which, however, cannot be in the twelfth month of such period) the Fixed Rate Credit Comeback Loan is eligible for a 0.375% per annum reduction on the current mortgage rate.

  • However, for purposes of all payments made on the Certificates, including the calculation of each applicable Net Rate Cap as well as other Mortgage Rate calculations, the Mortgage Rate on each Fixed Rate Credit Comeback Loan will be deemed to be reduced by 0.375% on the Due Date following the end of each of the first four annual periods after the origination date, irrespective of whether the borrower qualifies for the reduction by having a good payment history.

  • The Fixed Rate Credit Comeback Loan payment history is evaluated in the twelfth month of each such twelve-month period.

  • The ‘‘Net Mortgage Rate'' of a Kroup 1 Loan for any date means the original mortgage interest rate for that loan reduced by the applicable Trust Expense Rate (defined herein); provided, however, that in the case of any Credit Comeback Loan, the rate thus obtained is reduced by an additional 1.50%.

  • The ""Net Mortgage Rate'' of a Group 1 Loan for any date means the original mortgage interest rate for that loan reduced by the applicable Trust Expense Rate (deÑned herein); provided, however, that in the case of any Credit Comeback Loan, the rate thus obtained is reduced by an additional 1.50%.

  • The Fixed Rate Credit Comeback Loan payment history is S-34 evaluated in the twelfth month of each such twelve-month period.

  • The Fixed Rate Credit Comeback Loan payment history isevaluated in the twelfth month of each such twelve-month period.

Related to Credit Comeback Loan

  • Total Unutilized Revolving Loan Commitment means, at any time, an amount equal to the remainder of (x) the Total Revolving Loan Commitment in effect at such time less (y) the sum of (i) the aggregate principal amount of all Revolving Loans and Swingline Loans outstanding at such time plus (ii) the aggregate amount of all Letter of Credit Outstandings at such time.

  • Unutilized Revolving Loan Commitment means, with respect to any Lender at any time, such Lender’s Revolving Loan Commitment at such time less the sum of (i) the aggregate outstanding principal amount of all Revolving Loans made by such Lender at such time and (ii) such Lender’s RL Percentage of the Letter of Credit Outstandings at such time.

  • Available Revolving Credit Commitment with respect to any Revolving Credit Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Credit Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding.

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01(b). Unless the context otherwise requires, the term “Revolving Facility Loans” shall include the Other Revolving Loans.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Extended Revolving Credit Commitment has the meaning specified in Section 2.15(a).

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Available Revolving Commitment as to any Revolving Lender at any time, an amount equal to the excess, if any, of (a) such Lender’s Revolving Commitment then in effect over (b) such Lender’s Revolving Extensions of Credit then outstanding; provided, that in calculating any Lender’s Revolving Extensions of Credit for the purpose of determining such Lender’s Available Revolving Commitment pursuant to Section 2.8(a), the aggregate principal amount of Swingline Loans then outstanding shall be deemed to be zero.

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Refinancing Revolving Loans means one or more Classes of Revolving Loans that result from a Refinancing Amendment.

  • Extended Revolving Loans has the meaning assigned to such term in Section 2.23(a).

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Revolving Credit Commitment Increase has the meaning specified in Section 2.14(a).

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Extended Revolving Loan shall have the meaning assigned to such term in Section 2.21(e).

  • Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Adjusted Total Revolving Credit Commitment means at any time the Total Revolving Credit Commitment less the aggregate Revolving Credit Commitments of all Defaulting Lenders.

  • Total Term Loan Commitment means the sum of the amounts of the Lenders’ Term Loan Commitments.

  • Term Loans means, collectively, the Tranche A Term Loans and the Tranche B Term Loans.

  • Revolving Facility Loans shall include the Other Revolving Loans.

  • Extended Revolving Credit Loans shall have the meaning provided in Section 2.14(g)(ii).