Line of credit payment option definition

Line of credit payment option means a loan disbursement plan for a reverse mortgage under which the lender pays the loan proceeds to the borrower at times and in amounts determined by the borrower.
Sample 1Sample 2Sample 3
Line of credit payment option means a loan disbursement plan for a reverse
Sample 1Sample 2Sample 3

Examples of Line of credit payment option in a sentence

  • Under the tenure payment option, equal monthly payments are made by the mortgagee to the mortgagor as long as the prop- erty is the principal residence of the mortgagor, unless the mortgage is pre- paid in full or becomes due and payable under § 206.27(c).(c) Line of credit payment option.

  • Under the tenure payment option, equal5 monthly payments are made by the lender to the borrower, until the loan6 is prepaid in full or becomes due and payable.7 (iii) Line of credit payment option.

  • Under the tenure payment option, equal monthly payments are made by the mortgagee to the mortgagor as long as the prop- erty is the principal residence of the § 206.21mortgagor, unless the mortgage is pre- paid in full or becomes due and payable under § 206.27(c).(c) Line of credit payment option.

  • Under the tenure payment option, equal monthly payments are made by the mortgagee to the borrower in accordance with this section and with § 206.25(f), unless the mortgage is prepaid in full or becomes due and payable under § 206.27(c).(c) Line of credit payment option.

  • EXPLANATION--Matter initalics(underscored) is new; matter in brackets[ ] is old law to be omitted.LBD01344-04-9 1 (iii) Line of credit payment option.

  • EXPLANATION--Matter in italics (underscored) is new; matter in brackets [ ] is old law to be omitted.LBD01344-10-9 1 (iii) Line of credit payment option.

Related to Line of credit payment option

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.

  • Line of Credit Note shall have the meaning given the term in Section 2.1.a.

  • Revolving Advance has the meaning given in Section 2.1.

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

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

  • Term Advance has the meaning specified in Section 2.01(a).

  • Term Loan Advance and “Term Loan Advances” are each defined in Section 2.1.1(a).

  • SOFR Advance means any Loan which, except as otherwise provided in Section 2.10, bears interest at a rate based on Adjusted Term SOFR (other than a Floating Rate Advance as to which the interest rate is determined with reference to Adjusted Term SOFR or a SOFR Market Index Rate Advance).

  • Equity Line of Credit shall have the meaning ascribed to such term in Section 4.13.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Revolving Credit Base Rate Option A fluctuating rate per annum (computed on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed) equal to the Base Rate plus the Applicable Margin, such interest rate to change automatically from time to time effective as of the effective date of each change in the Base Rate; or

  • Term Loan Advances are each defined in Section 2.1.1(a).

  • Revolving Credit Advance means an advance by a Bank to a Borrower as part of a Revolving Credit Borrowing and refers to a Base Rate Advance or a Eurocurrency Rate Advance, each of which shall be a “Type” of Advance.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Shared-Loss Loan Commitment Advance means an advance pursuant to a Shared-Loss Loan Commitment with respect to which the Assuming Institution has not made a Permitted Advance.

  • Revolving Loans as defined in Section 2.4(a).

  • Administrative Advance shall have the meaning given thereto in the Lead Securitization Servicing Agreement.

  • Swingline Advance means an advance made by the Swingline Lender, if any, to the Borrower pursuant to Section 2.

  • Term Loan has the meaning specified in Section 2.01(b).

  • Refunded Swing Line Loans has the meaning assigned to that term in subsection 2.1A(iii).

  • Credit Line as defined in Section 2.1.

  • Letter of Credit Advance means an advance made by any Issuing Bank or any Lender pursuant to Section 2.03(c).

  • Revolving Credit Period means the period from and including the Effective Date to but excluding the Termination Date.

  • Domestic Rate Loan means any Advance that bears interest based upon the Alternate Base Rate.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).