Each Loan is a definition

Each Loan is a qualified mortgage" for purposes of Section 860G(a)(3) of the Code and Treasury Regulations Section 1.860G-2(a)(1) and (3).
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Each Loan is a qualified mortgage" within the meaning of Section 860G of the Code without regard to 'SS' 1.860G-2(f) of the REMIC Provisions or any similar rule;
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Examples of Each Loan is a in a sentence

  • Each Loan is a whole loan and not a participation interest in a mortgage loan.

  • Each Loan is a MERS Loan, unless otherwise approved by Buyer in its sole discretion.

  • Each Loan is a term loan under which no sums repaid may be reborrowed.

  • Each Loan is a separate and independent transaction and contractual obligation between Borrowers and Lender.

  • Each Loan is a valid and collectible obligation of the respective Borrower; and no Loan is subject to the Home Ownership and Equity Protection Act of 1994 or any Mortgage Loan classified as "high cost", "predatory" (or similar designation) under any other applicable state, federal or local law.

  • Each Loan is a registered obligation and may be transferred only pursuant to, and in accordance with, the provisions of this Section 2.6 and Section 8.1(d).

  • Each Loan is a “qualified mortgage” as such term is defined in Section 860G(a)(3) of the Code (without regard to Treasury Regulations Section 1.860G-2(f)(2), which treats certain defective mortgage loans as qualified mortgages).

  • Each Loan is a Variable Rate Loan, a Tracker Loan or a Fixed Rate Loan.

  • Each Loan is a SBA 7(a) Loan originated and serviced by Seller in accordance with SBA Rules and Regulations and for which an SBA guarantee is in effect in the percentage and dollar amount set forth on the SBA Loan Schedule.

  • Each Loan is a "commercial loan" within the --------------- meaning of Section 12-101(c) of the Commercial Law Article of the Annotated Code of Maryland, as amended.

Related to Each Loan is a

  • Non-Loan Party means any Subsidiary of the Borrower that is not a Loan Party.

  • Fixed Rate Borrowing means a Borrowing comprised of Fixed Rate Loans.

  • Syndicated Loan means a Loan made by a Lender pursuant to Section 2.01(a); provided that, if any such loan or loans (or portions thereof) are combined or subdivided pursuant to a Notice of Interest Rate Election, the term “Syndicated Loan” shall refer to the combined principal amount resulting from such combination or to each of the separate principal amounts resulting from such subdivision, as the case may be.

  • Committed Loan has the meaning specified in Section 2.01.

  • Term Loan Borrowing means a borrowing consisting of simultaneous Term Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by each of the Term Loan Lenders pursuant to Section 2.01(a).

  • Committed Loans means loans made pursuant to Section 2.1(a).

  • Base Rate Borrowing means a Borrowing comprised of Base Rate Loans.

  • Swing Loan Note means the Swing Loan Note of the Borrower in the form of Exhibit 1.1(S) evidencing the Swing Loans, together with all amendments, extensions, renewals, replacements, refinancings or refundings thereof in whole or in part.

  • Loan means an extension of credit by a Lender to the Borrower under Article II in the form of a Committed Loan or a Swing Line Loan.

  • L/C Borrowing means an extension of credit resulting from a drawing under any Letter of Credit which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing.

  • Committed Loan Notice means a notice of (a) a Committed Borrowing, (b) a conversion of Committed Loans from one Type to the other, or (c) a continuation of Eurodollar Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A.

  • SOFR Borrowing means, as to any Borrowing, the SOFR Loans comprising such Borrowing.

  • Request for Borrowing has the meaning provided in Section 2.3(a).

  • Canadian Loan means a Loan made to a Canadian Borrower denominated in Canadian Dollars.

  • Revolving Loan Borrowing means a borrowing of a Revolving Loan.

  • RFR Borrowing means, as to any Borrowing, the RFR Loans comprising such Borrowing.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • ABR Revolving Facility Borrowing means a Borrowing comprised of ABR Revolving Loans.

  • Revolving Facility Borrowing means a Borrowing comprised of Revolving Facility Loans.

  • Term Loan Note means a promissory note made by the Borrower in favor of a Term Loan Lender evidencing the portion of the Term Loans made by such Term Loan Lender, substantially in the form attached as Exhibit A-3, and any substitutes therefor, and any replacements, restatements, renewals or extension thereof, in whole or in part.

  • Revolving Loan Note means a promissory note in the form of Exhibit B-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Fixed Rate Advances has the meaning specified in Section 2.03(a)(i).

  • Canadian Loan Party means any Loan Party organized under the laws of Canada or any province or territory thereof.

  • Swingline Loan Note a promissory note in the form of Exhibit H-2, as it may be amended, supplemented or otherwise modified from time to time.

  • Syndicated Loans means Base Rate Loans or Euro-Dollar Loans made pursuant to the terms and conditions set forth in Section 2.01.

  • Eurocurrency Revolving Facility Borrowing means a Borrowing comprised of Eurocurrency Revolving Loans.