Loan Year means each period of twelve (12) consecutive months commencing on the Closing Date and on each anniversary thereof.
Loan Year. With respect to any Mortgage Loan, the one year period commencing on the day succeeding the origination of such Mortgage Loan and ending on the anniversary date of such Mortgage Loan, and each annual period thereafter.
Loan Year means each 365 day period (or 366 day period if the month of February in a leap year is included) commencing on the first day of the month following the Closing Date (provided, however, that the first Loan Year shall also include the period from the Closing Date to the end of the month in which the Closing Date occurs).
Examples of Loan Year in a sentence
For purposes of this Note, the term “Loan Year” shall mean the twelve (12) month period commencing on the date of this Note (or the anniversary date thereof in any subsequent year) and ending on the day preceding the immediately following anniversary date of this Note, (e.g., the first Loan Year shall end on August 28, 2025 and the second Loan Year shall commence on August 29, 2025).
More Definitions of Loan Year
Loan Year means the 12-month period from the first day of the first calendar month after the Initial Closing Date to and including the last day before the first anniversary of the Initial Closing Date, and each 12-month period thereafter.
Loan Year means a year commencing on the date of this Note, or an anniversary thereof, and ending 365 days (or 366 days in a leap year) thereafter.
Loan Year means each period of twelve (12) consecutive months, commencing on the Closing Date and on each anniversary thereof.
Loan Year means each twelve month period commencing on the Closing Date.
Loan Year means (a) for the first Loan Year, the period between the date hereof and one calendar year from the last day of the month in which the Closing Date occurs (unless the Closing Date is on the first day of a month, in which case the first Loan Year shall commence on such Closing Date and end one calendar year from the last day of the month immediately preceding the Closing Date) and (b) each consecutive twelve month calendar period after the first Loan Year until the Maturity Date.
Loan Year means the period beginning on the first February 1 on which principal of the Loan is payable and each February 1 thereafter and ending on the immediately succeeding January 31.
Loan Year means each 12 month period commencing on the Closing Date and on each anniversary of the Closing Date.