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.

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.

  • Existing Borrower s Re-Fix Rate" means at any date the fixed rate then being offered to those of the Seller's existing Borrowers who at that date are seeking to fix the rate of interest payable under their existing Fixed Rate Mortgage Loan with the Seller for the applicable period;

  • 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 equal to the sum of the Dollar Equivalent of, without duplication:

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

  • 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 has the meaning specified in the introductory paragraph to this Agreement.

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

  • Tranche B Term Lender each Lender that has a Tranche B Term Commitment or that holds a 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 the Company and each Designated Borrower that is a Domestic Subsidiary.

  • 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.