Excluded Borrower Benefits definition

Excluded Borrower Benefits means any borrower benefit that requires the lender to pay or rebate any amount to the Borrower or provide the Borrower with any gift or item of property, in any such case that has not been paid in full or delivered prior to the Grant Date, which obligation shall be satisfied prior to the sale of the applicable Loan to the Department.
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Examples of Excluded Borrower Benefits in a sentence

  • Prior to the sale of any Putable Loan to the Department, the Conduit or its agent shall apply funds in the Excluded Borrower Benefit Account (as defined below) to pay any Excluded Borrower Benefits to the Person entitled (or potentially entitled) to such benefit.

  • Prior to the sale of any Financed Student Loan to the Department under the Department Put Agreement, the Conduit Lender or its agent shall apply funds in the Excluded Borrower Benefit Account to pay any Excluded Borrower Benefits to the Person entitled (or potentially entitled) to such benefit.

  • Upon the occurrence of any Department Put Event, upon request of the Conduit Lender or the Conduit Administrator, the Servicer shall notify the Conduit Lender of any Excluded Borrower Benefits that are payable, or potentially payable, with respect to each Serviced Loan to be sold to the Department.

  • Pursuant to the Yukon Indian Land Claims Umbrella Final Agreement (UFA), the main instrument of salmon management in the Yukon is the Salmon Sub-Committee, now known as the Yukon Salmon Committee (YSC).

  • To the extent no Financed Student Loans are subject to Excluded Borrower Benefits, the Funding Note Issuer shall not be required to establish an Excluded Borrower Benefit Account.

  • On each Settlement Date, based on information provided by the related Servicers, the Conduit Administrator shall withdraw funds on deposit in the Excluded Borrower Benefit Account in excess of the aggregate maximum amount of Excluded Borrower Benefits that could be payable on all such Financed Student Loans and shall pay such excess amount to the Funding Note Issuer.

Related to Excluded Borrower Benefits

  • Adjusted Borrowing Base means the Borrowing Base minus the aggregate amount of Cash and Cash Equivalents included in the Borrowing Base.

  • Domestic Borrowing Base means, at any time of calculation, an amount equal to:

  • Foreign Borrowing Base means, as of any date, an amount equal to:

  • Required Term B Lenders means, as of any date of determination, Term B Lenders holding more than 50% of the Term B Facility on such date; provided that the portion of the Term B Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term B Lenders.

  • Designated Borrower has the meaning specified in the introductory paragraph hereto.

  • Irish Qualifying Lender means a Lender which is beneficially entitled to interest payable to that Lender in respect of an advance under this Agreement and is:

  • Domestic Subsidiary Borrower any Subsidiary Borrower which is a Domestic Subsidiary.

  • Designated Borrower Notice has the meaning specified in Section 2.14.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Proposed Borrowing Base has the meaning assigned to such term in Section 2.07(c)(i).

  • Domestic Obligations means all Obligations owing by the Domestic Loan Parties (other than in respect of Guarantees of Foreign Obligations pursuant to Article IV).

  • U.S. Borrowing Base means, as of any date of determination, the result of:

  • Identified Qualifying Lenders has the meaning set forth in Section 2.05(a)(v)(D)(3).

  • Foreign Subsidiary Borrower means any Eligible Foreign Subsidiary that becomes a Foreign Subsidiary Borrower pursuant to Section 2.23 and that has not ceased to be a Foreign Subsidiary Borrower pursuant to such Section.

  • Tranche A Borrowing Base means, at any time of calculation, an amount equal to:

  • UK Qualifying Lender means a Lender which is beneficially entitled to interest payable to that Lender in respect of an advance under a Loan Document and is:

  • Co-Borrowers means Wholly Owned Restricted Subsidiaries organized in any Applicable Jurisdiction from time to time designated by the Borrower to the Administrative Agent as “borrowers” with respect to Borrowings in accordance with Section 11.01, and “Co-Borrower” means any one of them.

  • Refinancing Term Lender has the meaning specified in Section 2.15(c).

  • Tranche B Term Lender means a Lender with a Tranche B Term Commitment or an outstanding Tranche B Term Loan.

  • Required Cash Collateral Amount shall have the meaning provided in Section 3.7(c).

  • Qualifying Lenders has the meaning specified in Section 2.05(d)(iv).

  • Funding Borrower shall have the meaning set forth in Section 20.12 hereof.

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

  • Domestic Borrower means any Borrower organized under the laws of the United States of America or any state of the United States of America.

  • Borrower Delayed Reimbursements Any Additional Trust Fund Expenses and reimbursements of Advances that the related Mortgagor is required, pursuant to a written modification agreement, to pay in the future to the Trust in its capacity as owner of the related Mortgage Loan.

  • Refunding Borrowing means a Committed Borrowing which, after application of the proceeds thereof, results in no net increase in the outstanding principal amount of Committed Loans made by any Bank.