Flexible Loan definition

Flexible Loan means a type of loan product that typically incorporates features that give the borrower options (which may be subject to certain conditions) to, among other things, make further drawings on the Mortgage Account and/or overpay or underpay interest and principal in a given month and/or take a Payment Holiday and, for the avoidance of doubt, includes Flexible Plus Loans; Flexible Loan Conditions means the Mortgage Conditions applicable to any Flexible Loan;

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Flexible Loan means a loan in respect of which the Borrower has exercisable redraw rights under the relevant loan;

Examples of Flexible Loan in a sentence

As consideration for the assignment of the Further Advance or Flexible Loan Drawing to the LLP, there shall be a deemed Capital Contribution in Kind by the Seller (in its capacity as Member) in an amount equal to the relevant increase of the Outstanding Principal Balance of the Loan, in accordance with clause 8.3 of the LLP Deed.
For the avoidance of doubt, the LLP will not be required to advance moneys to the Seller or to a Borrower in order to fund such Further Advance or Flexible Loan Drawing in any circumstances whatsoever.
On 26 July 2021, the Board approved the reference rate transition for ADB’s LIBOR-based loan product, including to rename it the Flexible Loan Product (FLP) (effective 1 January 2022) and the approach to transition the existing loan portfolio to be based on the terms of the FLP.
Amount Agreed the Flexible Loan Amount in the ‘AR90’ field of the Data Tape to the ‘Flexible Loan Amount’ in the Mortgage System.
Following the Closing, the Seller will take such additional actions and execute and deliver such other documents as are reasonably requested by ▇▇▇▇▇ in connection with the consummation of the transactions contemplated in the Agreement.

More Definitions of Flexible Loan

Flexible Loan means a type of Loan product that typically incorporates features that give the Borrower options (which may be subject to certain conditions) to, amongst other things, make further drawings on the mortgage loan account and/or to overpay or underpay interest and principal in a given month and/or to take a payment holiday.

Flexible Loan means a Mortgage Loan where the Borrower has exercisable redraw rights under the Mortgage Loan.

Flexible Loan means a Loan where the Borrower has exercisable redraw rights under the Loan.

Flexible Loan means a loan in respect of which the Borrower has exercisable redraw rights under the relevant loan; Fixed Rate Day Count Fraction means Act/365, as such term defined in the ISDA Definitions; Floating Rate Day Count Fraction means Act/365, as such term defined in the ISDA Definitions; Floating Rate Notes means the Class A Notes and the Class X Notes;‌‌

Flexible Loan means a loan in respect of which the Borrower has exercisable redraw rights under the relevant loan; Floating Mortgage Rate means a variable interest rate that is based on BBR or ▇▇▇▇▇ for Sterling deposits; Floating Rate Day Count Fraction means Act/365, as such term defined in the ISDA Definitions; Floating Rate Loans means a Loan where the applicable rate of interest is the Floating Mortgage Rate; Floating Rate Notes means the Class A Notes; Force Majeure Event means any event beyond the reasonable control of a party including strikes, lock-outs, labour disputes, acts of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood or storm; FSA means the Financial Services Authority, which, pursuant to the provisions of the Financial Services Act 2012, among other things, was replaced by the FCA and the PRA on 1 April 2013; Full Title Guarantee shall be construed in accordance with the LP (MP) Act but so that the covenants implied by the LP (MP) Act in respect of the Security do not include: