Escrow Interest Calculation definition

Escrow Interest Calculation means interest shall be credited on the average balance of the cash portion of the applicable escrow for the preceding calendar month or any portion of such preceding calendar month on or before the tenth (10th) day of each calendar month at a rate equal to the thirty-day average of the daily 30-day Dealer Commercial Paper Rate as published in the Wall Street Journal or similar financial publication, less 150 basis points; provided, however, that interest shall cease to be credited on any portion of the escrow at such time as they have been disbursed to Borrower or otherwise applied on behalf of Borrower in any manner expressly provided for in this Agreement or in the other Loan Documents.
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Examples of Escrow Interest Calculation in a sentence

  • Provided no Event of Default has occurred and is continuing under any of the Loan Documents, Lender shall credit Borrower with interest earnings on the cash portion of the Property Reserves, (excluding however any cash proceeds resulting from Lender having drawn on any Letter of Credit or any renewal or replacement thereof) pursuant to the Escrow Interest Calculation.

  • Provided no monetary Event of Default has occurred and is continuing under any of the Loan Documents, Lender shall credit Borrower with interest earnings on the Property Reserves for the Super Micro Escrow and for the AR Escrow, pursuant to the Escrow Interest Calculation.

Related to Escrow Interest Calculation

  • Interest Calculation Period means the interest calculation period set out or referred to in item 5(d) of the Mortgage Form;

  • Interest Adjustment Date With respect to a Mortgage Loan, the date, if any, specified in the related Mortgage Note on which the Mortgage Interest Rate is subject to adjustment.

  • REMIC I Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC I Remittance Rate for REMIC I Regular Interest I-LTAA minus the Marker Rate, divided by (b) 12.

  • Final Settlement Statement has the meaning set forth in Section 2.6(b).

  • Rate Calculation Date means the day which is two Rate Calculation Business Days before the due date of the relevant amount under these Conditions;