Fixed Loan definition

Fixed Loan means a fixed-rate loan made to a Collateral Pool Borrower each of which is or shall be evidenced by a Fixed Loan Note.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Fixed Loan means the loan in the amount of $307,760,000 evidenced by the Fixed Facility Note.

Fixed Loan means the fixed loan made by Lender to the Borrower on the Initial Closing Date in the initial principal amount of $328,333,000, an Additional Loan which is a fixed loan, each of which shall be evidenced by a Fixed Loan Note, and a Loan which has been converted from a Variable Loan to a Fixed Loan, as evidenced by an amendment to the applicable Note.

Examples of Fixed Loan in a sentence

• No Fixed Loan shall be made as a result of a decrease in the Loan to Value Ratio or an increase in the Debt Service Coverage Ratio of any Mortgaged Property.

• Insured's Sex and Issue Age M-35 Insured ▇▇▇▇ ▇▇▇ XX XXX XXX Policy Number Face Amount $50,000-- SEP 10, 1988 Contract Date Premium Period LIFE Beneficiary CLASS 1 ▇▇▇▇ ▇▇▇, WIFE CLASS 2 ▇▇▇▇▇▇ ▇▇▇, SON Fixed Loan Interest Rate LIST OF CONTRACT MINIMUMS The minimum unscheduled premium is $25.

• The obligation of the applicable Collateral Pool Borrower to repay the related Fixed Loan is and shall be evidenced by one or more Fixed Loan Notes executed by each applicable Collateral Pool Borrower.

• This Note is issued to evidence a Fixed Loan made in accordance with the terms of the Master Agreement.

• Without limiting the generality of subsection (a), Borrower shall comply with the reasonable requirements of Lender to enable Lender to sell the MBS backed by a Fixed Loan.

• The amount of any Funding Losses paid by Borrower to Agent in connection with a prepayment of any portion of a Fixed Loan shall be distributed to the Syndication Parties in accordance with their respective Syndication Shares no later than the same Business Day that payment of such Funding Losses is received by Agent, if received no later than 11:00 Central time, or the next Business Day if received by Agent thereafter.

• In the event all or a portion of the amount of the Variable Loan set forth in the Conversion Request cannot be converted because the increased debt service on the Fixed Loan does not result in the Collateral Pool satisfying the Coverage and LTV Tests, Borrower shall prepay the amount of the Variable Loan that cannot be converted to a Fixed Loan and shall pay all prepayment premiums and other fees associated with such prepayment.

• The maturity date of each Fixed Loan is set forth in the applicable Note.

• Fixed Loans are not prepayable without premium prior to the date that is six (6) months prior to the maturity date of such Fixed Loan (as more specifically described in the applicable Fixed Loan Note); provided that, notwithstanding the foregoing, Borrower may prepay all or any portion of any Fixed Loan pursuant to the yield maintenance provisions of the applicable Fixed Loan Note.

• The maturity date of such Fixed Loan may extend beyond May 1, 2019.

More Definitions of Fixed Loan

Fixed Loan in Part V I means a loan on mort­ gage granted for a fixed term of years during which interest only is payable.

Fixed Loan means a Loan the interest related to which has been switched to a Fixed Rate pursuant to Clause 8.5 (Interest Switch Option).

Fixed Loan has the meaning set forth in Section 2.1.1.

Fixed Loan means a loan—