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 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.
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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;
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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.

  • Our concern tonight is not so much with the development, as we think it is a wonderful development.

  • 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.

  • 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.

  • 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 Loan Amount Available will be the Loan Value less: 1.

  • Maximum Forgivable Loan Amount Available for an Essential Business is up to $2,500,00.

  • The client represents stakeholders and communicates concerns of value assessment or judgment with the designer.In looking at value transfer, we need to define the different types of values contributed by designers and clients.

  • POLICY LOANS AND LOAN REPAYMENTS You may request and obtain all or part of the Loan Amount Available by giving us Notice.


More Definitions of Loan Amount Available

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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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.
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Related to Loan Amount Available

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

  • 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.

  • Quarterly Excess Available Funds Percentage means, with respect to the July 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.