loan origination definition
loan origination or “originating a loan” means the granting of a loan:
loan origination means the time of inception of the obligation to extend credit, or when the last event or prerequisite, controllable by the lender, occurs causing the lender to become legally bound to fund an extension of credit.
loan origination means the time of incep- tion of the obligation to extend credit (i.e., when the last event or prerequisite, control- lable by the lender, occurs causing the lender to become legally bound to fund an extension of credit). Other acceptable collateral means any col- lateral in which the lender has a perfected security interest, that has a quantifiable value, and is accepted by the lender in ac- cordance with safe and sound lending prac- tices. Other acceptable collateral should be appropriately discounted by the lender con- sistent with the lender’s usual practices for making loans secured by such collateral. Other acceptable collateral includes, among other items, unconditional irrevocable standby letters of credit for the benefit of the lender. Readily marketable collateral means insured deposits, financial instruments, and bullion in which the lender has a perfected interest. Financial instruments and bullion must be salable under ordinary circumstances with reasonable promptness at a fair market value determined by quotations based on ac- tual transactions, on an auction or similarly available daily bid and ask price market. Readily marketable collateral should be ap- propriately discounted by the lender con- sistent with the lender’s usual practices for making loans secured by such collateral.
More Definitions of loan origination
loan origination or “originating a loan” means the granting of a loan directly by an AIF as the original lender or indirectly through a third party or special purpose vehicle, which originates a loan for or on behalf of the AIF, or for or on behalf of AIFM in respect of the AIF, where the AIFM or AIF is involved in structuring the loan, or defining or pre-agreeing its characteristics, prior to gaining exposure to the loan;
loan origination means the granting of loans by an AIF as the original lender;
loan origination. FEE: (Section 1.3) $1,000. This fee was paid at closing.
loan origination. FEE: (Section 1.3) $26,250.00, which is fully earned and payable at closing. (Any Commitment Fee previously paid by the Borrower in connection with this loan shall be credited against this Fee.)
loan origination in the Trust Loan Agreement is modified as:
loan origination. Student loans will be originated by Funding U. They will communicate with you regarding the status of your loan application. They will disburse your loan to your training provider. For questions about your loan application, please contact Funding U at ▇▇▇▇@▇▇▇▇▇▇▇-▇.▇▇▇.
loan origination. FEE: (Section 1.3) $2,500. This fee was paid at closing. THIRD TERM LOAN AMOUNT: An amount not to exceed the lesser of: (i) $750,000.00 at any one time outstanding; or (ii) the amount of the "Equipment Borrowing Base", as defined below. For purposes of this Schedule, the "Equipment Borrowing Base" shall mean the sum of (a) 80% of the invoice amount for equipment purchased by Borrower after September 30, 1994. Silicon shall have no obligation to advance against taxes, freight charges, installation charges or other similar amounts relating to Borrower's equipment, whether or not such amounts are identified on the invoices submitted to Silicon. Equipment to be included in the Equipment Borrowing Base must be new equipment, at the time of purchase by Borrower, owned by Borrower, in good working order, must not be subject to any liens in favor of any person or entity other than Silicon, and must be subject to a first perfected security interest in favor of Silicon. Silicon shall make advances under this Third Term Loan from time to time, based on invoices and other documentation as shall be requested by Silicon to support such advances, but Silicon shall have no obligation to make any advance under this term loan after March 25, 1996. Borrower shall submit to Silicon such invoices, advance requests and other information, in form acceptable to Silicon, as Silicon shall require from time to time. Once the total amount of the principal has been advanced under this Third Term Loan, Borrower is no longer entitled to further advances. Advances may be requested in writing by Borrower or an authorized person. Silicon may, but need not, require that all oral requests be confirmed in writing. The unpaid principal balance owing on this Term Loan at any time may be evidenced by endorsements to this Schedule or by Silicon's internal records, including daily computer print-outs.