Loan Amount Available definition

Loan Amount Available the Loan amount available within the Total Loan Amount Limit, which has not been used within the Loan Amount Provided. The Lender may use the amount of the Total Loan Amount Available once or several times on the Loan Agreement Conclusion Date, without meeting further conditions, but the sum of the Loan Amount Provided and of the used Loan Amount Available may not exceed the Total Loan Amount Limit. The Loan Amount Available is set out in Annex 3 to this Loan Agreement;
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Loan Amount Available. The minimum loan amount is $200. The loan amount available is equal to 90% of Accumulated Value, less any Policy Debt and also less any Surrender Charge that would be imposed if the policy were surrendered on the date the loan is taken or, if greater, the result of (a x b/c)-d, where: a = the Accumulated Value less 12 times the most recent monthly deduction less any Surrender Charge on the date of the loan;
Sample 1
Loan Amount Available. The amount available for a loan is equal to 90% of Accumulated Value, less any Policy Debt and also less and Surrender Charges that would be imposed if the policy were surrendered on the date the loan is taken or, if greater, the result of (a x b/c)-d, where: a is the Accumulation Value less 12 times the most recent monthly deduction; b = 1 plus the rate of interest credited to the Loan Account at the time of the loan; c = 1 plus the rate of interest charged on the loan at the time of the loan; and d = any existing Policy Debt. The amount of a loan must be at least $200. Loan Interest – Interest will accrue daily and is payable in arrears at the annual rate of 3.55%. Interest not paid when due will be added to the loan principal and bear interest at the same rate of interest.
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Examples of Loan Amount Available in a sentence

  • Loan Amount Available – The amount of the loan must be at least $200.

  • Loan Amount Available — The amount of the loan must be at least $200.

  • Loan Amount Available - The amount of a loan must be at least $200.

  • Loan Amount Available – The amount of a loan must be at least $200.

  • Loan Amount Available -- The amount available for a loan is equal to 90% of Accumulated Value less any Policy Debt and also less any Surrender Charges that would be imposed if the policy were surrendered on the date the loan is taken or, if greater, the result of (a x b/c)-d, where: a is the Accumulated Value less 12 times the most recent monthly deduction less any Surrender Charge on the date of the loan; b = 1 + the loan interest credited; c = 1.0355; and d = any existing Policy Debt.

  • Loan Amount Available – The maximum amount available for a loan on any date is equal to the Accumulated Value less: · Three times the most recent Monthly Deduction that reduces the Accumulated Value under the Policy; and · Any existing Policy Debt.

  • Article 201 Remedies in Case of Failure to Make Loan Amount Available Or Failure to Draw Down Where the lender failed to make the loan amount available on the prescribed date and in the prescribed amount, thereby causing loss to the borrower, it shall pay damages.

  • Declines in M were faster than predicted by simple size-spectrum theory (-0.32 to -0.62 (Houde 1997) vs -0.25 predicted by Peterson and Wroblewski (1984)).

  • Loan Amount Available – The maximum amount available for a loan on any date is equal to the Accumulated Value less: · Three times the most recent Monthly Deduction that reduces the Accumulated Value under the Policy; · Any Surrender Charge; and · Any existing Policy Debt.

  • Loan Amount Available — The amount available for a policy loan is equal to the Accumulated Value less: • three times the most recent Monthly Deduction; • any Surrender Charge; and • any existing Policy Debt.


More Definitions of Loan Amount Available

Loan Amount Available. The amount available for a loan is equal to 90% of Cash Surrender Value less policy debt or, if greater, the result of (a × b/c)-d, where: a is the Cash Surrender Value less 12 times the most recent monthly deduction; b = 1 plus the rate of interest credited to the Loan Account; c = 1 plus the rate of interest charged on the loan on the date of the loan; and d = any existing Policy Debt. . The amount of a loan must be at least $200. Loan Interest – Interest will accrue daily and is payable in arrears at the annual rate of 3.9% in policy years 1-10, 3.6% in policy years 11-20, and 3.25% thereafter. Interest not paid when due will be added to the loan principal and bear interest at the same rate of interest.
Sample 1
Loan Amount Available. The maximum amount available for a loan on any date is equal to the Accumulated Value less: · Three times the most recent Monthly Deduction that reduces the Accumulated Value under the Policy; · Any Surrender Charge; and · Any existing Policy Debt. The amount of the loan must be at least equal to the Minimum Loan Amount, if any, shown in the Policy Specifications. Loan Repayment – You may make loan repayments at any time prior to lapse of this Policy. Unless We are notified In Writing that the payment is a premium payment, any payment received while there is a loan will first be applied as a Loan Repayment. An amount equal to the Loan Repayment is deducted from the Policy Debt and the Loan Account Value is reduced accordingly. If the Loan Repayment is greater that the Policy Debt, only the amount necessary to reduce the Policy Debt to zero will be applied. We reserve the right to first transfer repayments from the Loan Account to each Fixed Option up to the amount that was originally borrowed. Any excess over such amount will be transferred to the Variable Accounts based on Your most recent allocation instructions. Any remaining amount will be applied as described in the Premiums section of this Policy.
Sample 1

Related to Loan Amount Available

  • Amount Available means, as to any Remittance Date, an amount equal to

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Loan Amount has the meaning specified in Section 7.06(b) of the Indenture.

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

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Available Spread Account Amount means, for any Transfer Date, an amount equal to the lesser of (a) the amount on deposit in the Spread Account (exclusive of Investment Earnings on such date and before giving effect to any deposit to, or withdrawal from, the Spread Account made or to be made with respect to such date) and (b) the Required Spread Account Amount, in each case on such Transfer Date.

  • Available Facility Amount shall have the meaning specified in paragraph 2B(1).

  • Maximum Advance Amount shall be Two Hundred Fifty Thousand Dollars ($250,000) per Advance Notice.

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Excess Available Funds Percentage means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.

  • Facility Amount means (a) prior to the end of the Revolving Period, $250,000,000, unless this amount is permanently reduced pursuant to Section 2.5 or increased pursuant to Section 2.8, in which event it means such lower or higher amount and (b) from and after the end of the Revolving Period, the Advances Outstanding.

  • Aggregate Outstanding Loan Balance means on any day, the sum of the Outstanding Loan Balances of all Eligible Loans included as part of the Collateral on such date.

  • Amount Available for Senior Principal As to any Distribution Date, Available Funds for such Distribution Date, reduced by the aggregate amount distributable (or allocable to the Accrual Amount, if applicable) on such Distribution Date in respect of interest on the Senior Certificates pursuant to Section 4.02(a)(ii).

  • Total loan amount means the principal of the loan minus those

  • Maximum Revolving Loan Amount means, as of any date of determination, the lesser of (a) the Revolving Loan Commitment(s) of all Lenders minus the Letter of Credit Reserve and (b) the Borrowing Base minus the Letter of Credit Reserve.

  • Class B Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class B Floating Percentage of the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date.

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Maximum Loan Amount has the meaning set forth in Section 2.1(a).

  • Quarterly Excess Available Funds Percentage means, with respect to the March 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Maximum Credit Amount means, as to each Lender, the amount set forth opposite such Lender’s name on Annex I under the caption “Maximum Credit Amounts”, as the same may be (a) reduced or terminated from time to time in connection with a reduction or termination of the Aggregate Maximum Credit Amounts pursuant to Section 2.06(b) or (b) modified from time to time pursuant to any assignment permitted by Section 12.04(b).

  • Maximum Available Amount means, on any date of determination, an amount equal to the lesser of:

  • Revolving Availability means Class A Revolving Availability or Class B Revolving Availability, as applicable.

  • Aggregate Funded Spread As of any Measurement Date, the sum of: (a) in the case of each Floating Rate Obligation (other than a Defaulted Obligation) that bears interest at a spread over a reference rate based index that is a Benchmark-based Index or is the same as the then-current Benchmark applicable to the Floating Rate Debt (including, for any Permitted Deferrable Obligation, only the excess of the required current cash pay interest required by the Underlying Documents thereon over the applicable index and excluding the unfunded portion of any Delayed Drawdown Collateral Obligation and Revolving Collateral Obligation), (i) the stated interest rate spread paid in Cash on such Collateral Obligation above such index multiplied by (ii) the Principal Balance of such Collateral Obligation; provided that (i) with respect to any Floor Obligation, the stated interest rate spread paid in Cash on such Collateral Obligation over the applicable index shall be deemed to be equal to the sum of (x) the stated interest rate spread paid in Cash over the applicable index and (y) the excess, if any, of the specified “floor” rate relating to such Collateral Obligation over the greater of zero and the applicable index and (ii) the interest rate of each Step-Up Obligation will be deemed to be its current rate of interest and the interest rate of each Step-Down Obligation will be deemed to be the lowest rate of interest that such Collateral Obligation will by its terms pay in the future solely as a function of the passage of time; and (b) in the case of each Floating Rate Obligation (including, for any Permitted Deferrable Obligation, only the required current cash pay interest required by the Underlying Documents thereon and excluding the unfunded portion of any Delayed Drawdown Collateral Obligation and Revolving Collateral Obligation) that bears interest at a spread over an index other than a reference rate based index that is a Benchmark-based Index or is the same as the then-current Benchmark applicable to the Floating Rate Debt, (i) the excess of (x) the sum of such spread and the greater of such index or any applicable floor paid in Cash over (y) the Benchmark applicable to the Floating Rate Debt as of the immediately preceding Interest Determination Date (which spread or excess may be expressed as a negative percentage) multiplied by (ii) the Principal Balance of each such Collateral Obligation.

  • Aggregate Maximum Credit Amounts at any time shall equal the sum of the Maximum Credit Amounts, as the same may be reduced or terminated pursuant to Section 2.06.

  • Senior Prepayment Percentage For any Distribution Date during the five years beginning on the first Distribution Date, 100%. The Senior Prepayment Percentage for any Distribution Date occurring on or after the fifth anniversary of the first Distribution Date will, except as provided herein, be as follows: for any Distribution Date in the first year thereafter, the Senior Percentage plus 70% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the second year thereafter, the Senior Percentage plus 60% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the third year thereafter, the Senior Percentage plus 40% of the Subordinated Percentage for such Distribution Date; for any Distribution Date in the fourth year thereafter, the Senior Percentage plus 20% of the Subordinated Percentage for such Distribution Date; and for any Distribution Date thereafter, the Senior Percentage for such Distribution Date (unless on any Distribution Date the Senior Percentage exceeds the initial Senior Percentage, in which case the Senior Prepayment Percentage for such Distribution Date will once again equal 100%). Notwithstanding the foregoing, no decrease in the Senior Prepayment Percentage will occur unless both of the Senior Step Down Conditions are satisfied.