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.

  • A later version states: “There are many ways we can help! Forbearance, Loan Modification, Partial Claim, Deed in Lieu, Redemption, Short Sale.” (See Exhibit 4, page 1).

  • Loss Mitigation includes non-foreclosure actions such as Deed-in-lieu, NOD, Pre-Foreclosure Sale, Short Sale, Short Refinance, Loan Extension (Balloon), Forbearance, Loan Modifications and Charge-off.

  • Servicer will not be required to perform a title search or perfect the lien, but the Post- Forbearance Loan Modification Agreement will need to be recorded.

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

  • 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.

  • Loan Level Record Type FOne record for each Forbearance Loan Record in the poolFor MULTI ISSUER Pools, the Pool will have a Pool Header and all Forbearance Loan Records in the Multi Issuer pool 1.

  • A signature is required for a Special Forbearance, Loan Modification, Partial Claim, FHA-HAMP, Pre-Foreclosure Sale and DIL.

  • If the home team is leading by 12 or more runs after 4.5 innings or if the visiting team is leading by 12 or more runs after 5 complete innings, the game will be ended and considered complete.

  • The existing site, Ollerton Nursery, has a lawful development certificate for use as a garden centre (A1 use class).


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 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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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 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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Related to Forbearance Loan

  • Forbearance Default means: (A) the failure of the Company to provide the Noteholder Group and its financial advisors with reasonable access, as determined by the Noteholder Group in its reasonable discretion, to its Chief Executive Officer, other senior executives and outside advisors, including representatives of Xxxxx Xxxxx Xxxxxx that are working with the Company, and to provide the Noteholder Group and its legal and financial advisors with any and all due diligence information they may reasonably request, including, without limitation, the Company’s current 13-week cash flow schedule, and all updates thereto as soon as reasonably practicable after they are prepared, but in no event no later than two (2) business days thereafter; (B) the failure of the Company to engage in good faith negotiations with the Noteholder Group regarding a potential restructuring transaction, which determination shall be made by the Noteholder Group in its reasonable discretion; (C) the failure of the Company to promptly notify the Noteholder Group of the occurrence of a Forbearance Default (as defined in the DDJ Third Amended Forbearance Agreement) under the DDJ Third Amended Forbearance Agreement or any amendment or modification to the DDJ Third Amended Forbearance Agreement; (D) termination of the DDJ Third Amended Forbearance Agreement; (E) the execution of any amendment or modification to the DDJ Third Amended Forbearance Agreement, which amendment or modification has a material adverse effect on the Noteholder Group as determined by the Noteholder Group in its reasonable discretion; (F) termination by the Company of the Xxxxxx Engagement Letter or the failure of the Company to pay Xxxxxx’x fees, expenses and indemnity in accordance with the terms of the Xxxxxx Engagement Letter; (G) the occurrence of any Event of Default that is not a Specified Existing Default; (H) the failure of the Company to comply with any term, condition, covenant or agreement set forth in this Third Amended Forbearance Agreement; (I) the failure of any representation or warranty made by the Company under this Third Amended Forbearance Agreement to be true and correct in all material respects as of the date when made; (J) the commencement by or against the Company or any of the Subsidiaries of a case under title 11 of the United States Code; or (K) the commencement of any action or proceeding by any creditor of the Company or any of the Subsidiaries seeking to attach or take similar action against the assets of the Company or the Subsidiaries. Any Forbearance Default shall constitute an immediate Event of Default under the Indenture.

  • 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 to an Obligor, which provides for a portion of the interest that accrues thereon to be added to the principal amount of such Loan for some period of the time prior to such Loan requiring the cash payment of interest on a monthly or quarterly basis.

  • 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 loan, debt obligation, debt security or participation therein acquired by the Borrower.

  • 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.

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

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

  • 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.

  • Additional Collateral Loan Each Mortgage Loan that is supported by Additional Collateral.