Lifetime Floor. The provision in the Promissory Note for each ARM which limits the minimum Loan Interest Rate over the life of such ARM.
Lifetime Floor. As to any Mortgage Loan in Loan Group I the minimum Mortgage Interest Rate set forth in the related Mortgage Note and indicated in the Mortgage Loan Schedule, which rate may be applicable to such Mortgage Loan at any time during the life of such Mortgage Loan.
Lifetime Floor. The provision in the Mortgage Note for each Pool II Mortgage Loan which limits the minimum Mortgage Interest Rate over the life of such Pool II Mortgage Loan to the rate set forth in the applicable Mortgage Note.
Examples of Lifetime Floor in a sentence
This Limited Lifetime Floor Warranty provision is not transferrable.
A Home Equity Loan the Mortgage Rate of which adjusts on each Change ---- Date by reference to the applicable Mortgage Index, subject to the applicable Periodic Rate Cap, Lifetime Floor and Lifetime Cap.
ARM: An adjustable rate Mortgage Loan the Coupon Rate of which adjusts on each Change Date by reference to the applicable Index, subject to the applicable Periodic Rate Cap, Lifetime Floor and Lifetime Cap.
More Definitions of Lifetime Floor
Lifetime Floor means, as to any HELOC, the minimum Mortgage Interest Rate set forth in the related Mortgage Note and indicated in the Mortgage Loan Schedule.
Lifetime Floor. As to any Adjustable Rate Loan, the minimum Loan Interest Rate set forth in the related Debt Instrument and indicated in the Loan Schedule.
Lifetime Floor means the provision in the Mortgage Note for each ARM -------------- which limits the minimum Mortgage Rate over the life of such ARM to the Mortgage Rate on the date of origination of such ARM.
Lifetime Floor. The provision in the Mortgage Note for each ARM, or a 5/1 ARM Mortgage Loan on and after its first Change Date, which limits the minimum Coupon Rate over the life of such ARM or 5/1 ARM Mortgage Loan. Loan Balance: As of any date of calculation and with respect to each Mortgage Loan, the Original Principal Balance thereof less any Subservicer Principal Remittance Amounts relating to such Mortgage Loan included in all previous Subservicer Monthly Remittance Amounts and, if applicable, the Subservicer Monthly Remittance Amount as of such date.
Lifetime Floor. As to any ARM, the minimum Mortgage Interest Rate set forth in the related Mortgage Note and indicated in the Mortgage Loan Schedule for Trust 1A.
Lifetime Floor means, as to any Mortgage Loan, the minimum Mortgage Interest Rate set forth in the related Mortgage Note and indicated in the Mortgage Loan Schedule, which rate may be applicable to such Mortgage Loan at any time during the life of such Mortgage Loan.
Lifetime Floor. The provision in the Business Note for Loan, which limits the minimum Loan Interest Rate over the life of such Loan to the rate set forth in the applicable Business Note.