Hybrid Loan definition

Hybrid Loan. Any Mortgage Loan that bears interest at a fixed rate for its initial three year period following origination, and at an adjustable rate for the ensuring 27 years in which it remains outstanding.
Sample 1Sample 2Sample 3
Hybrid Loan means each Loan that accrues interest based upon an index that is determined by reference to a floating rate GECS Hybrid Loan Rate Confirmation and that is convertible at the option of the Obligor thereunder to a fixed rate based on a benchmark index. Spread: 20 basis points per annum Party B Floating Rate Day Count Fraction: Actual/360 LIBOR Floating Rate Amounts: LIBOR Floating Rate Payer: Party A LIBOR Floating Rate Payer Payment Dates: Each Payment Date
Sample 1
Hybrid Loan shall have the same meaning as a Loan with respect to its purpose but shall mean that this Agreement is structured as an Investment and a Loan, resulting in a Hybrid Loan and Investment.
Sample 1Sample 2

Examples of Hybrid Loan in a sentence

  • This is a Hybrid Loan requiring an Investment through Transfer of Collateral to Lender.


More Definitions of Hybrid Loan

Hybrid Loan means a collective reference to (i) (A) Note No. 1 issued on the Restatement Date by Canadian Borrower to U.S. Borrower and (B) Note No. 2 issued on the Restatement Date by Canadian Borrower to U.S. Borrower, in an aggregate principal amount of Cdn$342,836,000 and, in each case, any refinancing, refundings, renewals or extensions thereof not increasing the principal amount thereof (except to the extent representing the financing of premiums, interest, fees and expenses in connection therewith) or shortening the maturity thereof, (ii) No. 1 Common Share Forward Subscription Agreement dated as of the Restatement Date between U.S. Borrower and Canadian Borrower and any replacement thereof and (iii) No. 2 Common Share Forward Subscription Agreement dated as of the Restatement Date between U.S. Borrower and Canadian Borrower and any replacement thereof.
Sample 1
Hybrid Loan. Any Mortgage Loan that bears interest at a fixed rate for its initial two, three or five year period following origination, and at an adjustable rate for the remaining 28, 27 or 25 years, respectively, in which it remains outstanding. Index: With respect to any Adjustable Rate Mortgage Loan, the applicable index for computing the Mortgage Loan Rate as specified in the Mortgage Note.
Sample 1
Hybrid Loan means each Loan that accrues interest based upon an index that is determined by reference to a floating rate and that is convertible at the option of the obligor thereunder to a fixed rate based on a benchmark index. Trade Date: November 9, 2007 Effective Date: November 20, 2007
Sample 1
Hybrid Loan means each Loan that accrues interest based upon an index that is determined by reference to a floating rate and that is convertible at the option of the Obligor thereunder to a fixed rate based on a benchmark index. GECS Hybrid Loan Rate Confirmation Spread: 1.45 basis points (0.0145%) per annum Party B Floating Rate Day Count Fraction: Actual/360 LIBOR Floating Rate Amounts: LIBOR Floating Rate Payer: Party A LIBOR Floating Rate Payer Payment Dates: Each Payment Date LIBOR Floating Rate Payer Period End Dates: The last day of each Calculation Period, subject to adjustment in accordance with the Following Business Date Convention.
Sample 1

Related to Hybrid Loan

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Revolving Advances means Advances made other than Letters of Credit.

  • 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.

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • LIBOR Loan means any portion of a Loan (other than a Base Rate Loan) bearing interest at a rate based on LIBOR.

  • Total Loans at any time, the aggregate principal amount of the Loans of the Lenders outstanding at such time (after converting the outstanding principal amount of any Loans denominated in the Optional Currency into the Dollar Equivalent thereof at such time).

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.