Forbearance Loan definition

Forbearance Loan means a Student Loan during a period of forbearance of loan collections pursuant to the Higher Education Act.
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Forbearance Loan. A Mortgage Loan with respect to which, as of the Sale Date, a written agreement is in effect pursuant to which the Mortgagor pays less than the monthly payment provided for in the original Mortgage Loan Documents.
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Forbearance Loan shall have the meaning assigned thereto in the Pricing Side Letter.
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Examples of Forbearance Loan in a sentence

  • This commitment fee shall be payable on the Forbearance Loan Maturity Date.

  • Other than the Forbearance Loan described herein, the Agent and the Banks shall not be obligated to make any other Revolving Credit Loans under the Credit Agreement.

  • For the avoidance of doubt, if a borrower reinstates or resolves any Forbearance Loan and such loan subsequently becomes 90 days or more delinquent, the full unpaid principal balance of such SDQ Loan will be multiplied by the applicable “SDQ Factor” and the 30% factor shall not be applicable unless additional forbearance of such loan under the CARES ACT or any replacement thereof is permitted by Xxxxxx Mae.

  • On January 31, 2001, the amount available under the Forbearance Loan shall be reduced to $1,000,000.00, and any amount outstanding under the Forbearance Loan in excess of $1,000,000.00 shall be due and paid in full.

  • Notwithstanding anything to the contrary contained in this Agreement or any other Loan Document, and without limiting the other rights and remedies of the Agent and Banks, the Forbearance Loan shall be terminated and due and payable in full if any of the events or circumstances set forth in Section 13.1(g) of the Credit Agreement have occurred and are continuing notwithstanding any grace period set forth therein.

  • Forbearance) Loan Status submitted, and Effective Date of Loan Status is prior to the Grad/Sep.

  • Such Forbearance Loan shall be deemed to be a Revolving Credit Loan for all purposes of the Credit Agreement notwithstanding the existence of the Forbearance Defaults.

  • Summary of Impact of Principal Forbearance Loan Modifications on BorrowersAverage Decrease in Borrower’s Monthly Mortgage Payment IV.

  • In each country where patent protection is sought, Enumeral shall make a good faith effort to obtain claims adequate to provide patent protection for the First Antibody and any Subsequent Antibody moiety of the Products.

  • Forbearance) Loan Status submitted, and Effective Date of Loan Status is prior to the Repayment Date in the HEAL database.


More Definitions of Forbearance Loan

Forbearance Loan means any Mortgage Loan (i) for which the borrower has requested forbearance pursuant to §4022 of the CARES Act, (ii) for which one or more regular monthly payments have not been made, and (iii) which is still in the Forbearance Period (i.e., the Mortgage Loan has not been reinstated or resolved).
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Forbearance Loan means a Student Loan during a period of Forbearance.
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Forbearance Loan means a Loan for which the required monthly payments by the related Mortgagor are in forbearance or for which the related Mortgagor has communicated to the Seller or Servicer that such Loan will or may not make any required monthly payments.
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Forbearance Loan means, as of any date of determination, a Non-QM Mortgage Loan subject to a Transaction as of July 21, 2020, which (i) is subject to a Forbearance Plan as of such date, as reflected in the most recent monthly servicing and remittance report or otherwise disclosed in writing by the Servicer or Seller to the Buyer, and (ii) the Buyer agrees to include as a “Forbearance Loan”, which agreement shall be evidenced by a writing delivered by Buyer to Seller (which writing may be via electronic mail); provided, that, Buyer may withdraw such agreement at any time in its sole discretion in which case such Mortgage Loan shall thereafter not constitute a “Forbearance Loan”; provided, further, that, unless otherwise agreed to by Buyer, the Forbearance Loans shall comply with the Non-QM Concentration Limits. For the avoidance of doubt, if the Buyer withdraws the aforementioned agreement (either due to such Mortgage Loan being a Clean Pay Forbearance Loan, a Reinstated Pay Forbearance Loan or otherwise), the terms and conditions of this Agreement applicable to non-Forbearance Loans (including, without limitation, eligibility, Pricing Rate and Purchase Price Percentage) shall apply to such Mortgage Loan.
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Forbearance Loan shall have the meaning assigned thereto in the Pricing Side Letter. “Foreign National” shall have the meaning assigned thereto in the Pricing Side Letter.
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Related to Forbearance Loan

  • Forbearance Default means any of: (A) the occurrence of any Default or Event of Default other than the Specified Defaults, (B) the failure of Borrower or any other Designated Company to timely and strictly comply with any term, condition, covenant, agreement or other obligation set forth in this Agreement, (C) the failure of any representation or warranty made by Borrower or any other Designated Company under or in connection with this Agreement to be true and complete in all material respects as of the date when made or any other material breach of any such representation or warranty, (D) the taking of any action by Borrower or any other Designated Company to in any way repudiate or assert a defense to any Obligation under the Credit Agreement, this Agreement or any of the other Loan Documents or the assertion of any claim or cause of action against Administrative Agent, Co-Administrative Agent or any Lender relating in any way thereto, (E) the date on which Administrative Agent, in its sole discretion or at the direction of the Required Lenders, delivers to Borrower a written notice terminating the Forbearance Period, which notice may be delivered at any time upon or after the delivery of any Proposed Vendor Payment Schedule Rejection Notice (as defined below) by the Administrative Agent in accordance with Section 3(c)(ii) hereof, or (F) Borrower fails to receive Inventory purchased with a CIA Payment (as defined below) within six (6) Business Days of the making of such CIA Payment. The occurrence of any Forbearance Default shall constitute an immediate Event of Default under the Credit Agreement and other Loan Documents. Upon the termination or expiration of the Forbearance Period, the agreement of Administrative Agent, Co-Administrative Agent and each Lender hereunder to forbear from exercising its default-related rights and remedies shall immediately terminate without the requirement of any demand, presentment, protest, or notice of any kind, all of which Borrower and each other Designated Company hereby waives. Borrower and each other Designated Company further agrees that any of Administrative Agent (upon direction of the Required Lenders to the extent provided in the Credit Agreement) and each Lender may at any time after the expiration or termination of the Forbearance Period proceed to exercise any and all of its rights and remedies under any or all of the Credit Agreement, any other Loan Document and/or applicable law, all of which rights and remedies are hereby fully reserved by Administrative Agent and each Lender. Any agreement by Administrative Agent and the Lenders to extend the Forbearance Period, if any, must be set forth in writing and signed by Administrative Agent and the Lenders. Borrower and each other Designated Company acknowledges that none of Administrative Agent or any Lender has made any assurances concerning any possibility of any extension of the Forbearance Period. Borrower and each other Designated Company acknowledges and agrees that any Loan or other financial accommodation which Administrative Agent, Co-Administrative Agent or any Lender makes to or for the benefit of Borrower or any other Designated Company on or after the Forbearance Effective Date has been made by such party in reliance upon, and is consideration for, among other things, the general releases and indemnities contained in Section 5 hereof and the other covenants, agreements, representations and warranties of Borrower and each other Designated Company hereunder.

  • Overadvance Loan means a Base Rate Loan made when an Overadvance exists or is caused by the funding thereof.

  • Forbearance As defined in Section 3.07(a).

  • Forbearance Period means the period beginning on the Forbearance Effective Date and ending on the Forbearance Termination Date.

  • Forbearance Agreement means the forbearance agreement entered into by Granite Co. prior to the implementation of the 2011 Arrangement.

  • PIK Loan means a Loan that permits the Obligor thereon to defer or capitalize any portion of the accrued interest thereon.

  • Senior Loan has the meaning provided in the Recitals hereto.

  • Refinance Loan Any Mortgage Loan the proceeds of which are used to refinance an Original Mortgage Loan.

  • Term Loan Collateral means all of the assets of any Grantor, whether real, personal or mixed, upon which a Lien is granted or purported to be granted to any Term Loan Agent under any of the Term Loan Collateral Documents.

  • Term Loan Security Documents means the “Security Documents” as defined in the Term Loan Credit Agreement.

  • Letter of Credit Default means with respect to a Letter of Credit, the occurrence of any of the following events:

  • Collateral Loan means a Senior Secured Loan, a Senior Secured Bond, a First Lien/Last Out Loan or a Second Lien Loan or a Participation Interest in any Senior Secured Loan, First Lien/Last Out Loan or Second Lien Loan that as of the date of acquisition by the Borrower meets each of the following criteria:

  • Senior Loan Agreement means that certain Term Loan Agreement, dated as of June 26, 2015, by and among Borrower and Senior Lenders, as amended, restated, supplemented or otherwise modified from time to time.

  • Term Loan Intercreditor Agreement means that certain Intercreditor Agreement substantially in the form of Exhibit L hereof, dated as of the date hereof, among the administrative agent under the Term Loan Credit Agreement, the Administrative Agent on behalf of the Secured Parties, and the Loan Parties, as amended and in effect from time to time.

  • Junior Loan has the meaning provided in the Recitals hereto.

  • Funding Loan Agreement means this Funding Loan Agreement, of even date herewith, by and among the Funding Lender, the Governmental Lender and the Fiscal Agent, as it may from time to time be supplemented, modified or amended by one or more funding loan agreements, indentures or other instruments supplemental hereto entered into pursuant to the applicable provisions hereof.

  • Term Loan Priority Collateral as defined in the Intercreditor Agreement.

  • ABL/Term Loan Intercreditor Agreement means the Intercreditor Agreement, dated as of the Closing Date, by and among the Administrative Agent, Barclays Bank PLC, as collateral agent under the Term Loan Credit Agreement, Holdings, Borrower and the other Subsidiary Loan Parties party thereto, as amended, restated, supplemented, replaced, refinanced or otherwise modified from time to time in accordance with the requirements thereof and of this Agreement.

  • Secured Loan has the meaning specified in Section 2(e) hereof.

  • DIP Loan Any Loan (i) with respect to which the related Obligor is a debtor-in-possession as defined under the Bankruptcy Code, (ii) which has the priority allowed pursuant to Section 364 of the Bankruptcy Code and (iii) the terms of which have been approved by a court of competent jurisdiction (the enforceability of which is not subject to any pending contested matter or proceeding).

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Prior Loan Agreement is defined in Recital A of this Agreement.

  • Second Lien Loan Documents means the Second Lien Credit Agreement and the other “Loan Documents” under and as defined in the Second Lien Credit Agreement, as each such document may be amended, renewed, restated, supplemented or otherwise modified from time to time.

  • Loan Collateral With respect to any Mortgage Loan, the related Mortgaged Property and any personal property securing the related Mortgage Loan, including any lessor’s interest in such property, whether characterized or recharacterized as an ownership or security interest, and including any accounts or deposits pledged to secure such Mortgage Loan, and any Additional Collateral.

  • Term Loan Collateral Agent means Credit Suisse, Cayman Islands Branch, as collateral agent for the lenders under the Term Loan Credit Agreement, together with its respective successors and permitted assigns under the Term Loan Credit Agreement exercising substantially the same rights and powers, or such other agent as may from time to time be appointed thereunder.

  • Existing Loan Agreement has the meaning set forth in the recitals to this Agreement.