Material Term means any term of an accounts receivable loan or in any document evidencing or securing such financing that: (1) extends the maturity date of the loan; (2) adds guarantors to the loan; (3) releases guarantors from the loan; (4) adds borrowers to the loan; (5) adds an interest reserve to the loan; (6) amends the interest rate payable on the outstanding principal balance of the loan; (7) increases or decreases the principal amount of the loan; (8) adds collateral as additional security for the loan; and/or (9) amends or expands the type of obligations secured by the loan. In the event of conflict between this Section 22 and any HUD-approved intercreditor agreement, the HUD-approved intercreditor agreement shall control.
Material Term as used herein shall be interpreted in accordance with Idaho law. Examples of breaches of material terms of this Contract include, but are not limited to: • Failure by Student to make payment when due. • Violation of the Apartment Living Standards. • Student or Landlord conduct that interferes with the rights to peaceful enjoyment of the premises, recklessly endangers human life, or that damages, defaces, or destroys the property of or threatens physical harm against another. • Student or Landlord suffering, permitting, or maintaining any nuisance or any health hazard on the premises. • Landlord failure to maintain the property in accordance with applicable federal, state, or local laws and regulations, or with BYU-ldaho standards and requirements as established in the Agreement to Provide BYU-ldaho Approved Housing or the University Approved Housing Guidebook. • Landlord materially misrepresents property condition, history, amenities, availability, or any other relevant consideration to a prospective renter on its website and/or in other verbal or written communications (such as e-mails, flyers, brochures, etc.).
Material Term means clauses 3.1c), 3.1d) and 4 of this Agreement.
Examples of Material Term in a sentence
Until the Loan is paid in full, no modifications, extensions, amendments, or renewals on different terms and conditions, to a Material Term, as defined below, of the accounts receivable loan or any accounts receivable related loan document shall take effect without prior written consent of HUD and Lender.
More Definitions of Material Term
Material Term means, in respect of any Mortgage Asset Agreement, any provision thereof on the date on which the Mortgage Asset is assigned to the Issuer relating to (i) the maturity date of the Mortgage Asset,(ii) the ranking of the Mortgage provided by the relevant Borrower, (iii) the spread over the index used to determine the rate of interest thereunder, (iv) the Principal Outstanding Balance of such Mortgage Loan and(v) the amortisation profile of such Mortgage Asset.
Material Term means, in respect of any Mortgage Asset Agreement, any provision thereof on the date on which the Mortgage Asset is assigned to the Issuer relating to: (i) the interest rate; (ii) the maturity date of the Mortgage Loan, (iii) the ranking of the Mortgage provided by the relevant Borrower, (iv) the Principal Outstanding Balance of such Mortgage Loan, and (v) the amortisation profile of such Mortgage Loan.To the extent that the Servicer wishes to propose an amendment, variation or waiver of a Material Term of a Mortgage Asset Agreement that is not otherwise permitted, such amendment, variation or waiver shall only be proposed provided that it does not conflict with the provisions of the Securitisation Law (as amended from time to time) or with any other applicable laws and regulations, and provided further that the relevant Mortgage Assets are substituted and repurchased by the Originator or acquired by a third party in compliance with the terms of the Mortgage Sale Agreement governing substitution of Mortgage Assets (as the case may be), and in addition provided that the following conditions are met:
Material Term has the meaning ascribed to it in Section 1.1(b).
Material Term means, in respect of any SME Receivables Agreement, any provision thereof on the date on which the SME Receivables are assigned to the Issuer relating to (i) the maturity date of the SME Receivables, (ii) the ranking of the security (if any) provided by the relevant Borrower, (iii) the spread over the index used to determine the rate of interest thereunder, (iv) the Principal Outstanding Balance of such SME Receivables and (v) the amortisation profile of such SME Receivables.
Material Term means, in respect of any Lease Contract, any provision thereof on the date on which the Lease Asset is assigned to the Fund relating to (i) the maturity date of the Lease Asset, (ii) the Principal Outstanding Balance of such Receivable, and (iii) the amortisation profile of such Lease Asset. SubstitutionsWhere the Servicer proposes a variation to the terms of a Lease other than a Permitted Variation and the Originator subsequently proposes to repurchase such Lease Asset and then proposes to sell to the Fund a Substitute Lease Asset, such substitution is subject to the satisfaction of the Substitution Criteria. Servicing FeeThe Servicer will, on each Fund Distribution Date, receive a servicing fee quarterly in arrears from the Fund calculated by reference to the Principal Outstanding Balance of the Receivables as at the first day of the relevant Collection Period. Representations and WarrantiesThe Servicer will make certain representations and warranties to the Fund in accordance with the terms of the Receivables Servicing Agreement relating to itself and any subcontracted servicer and its entering into the relevant Transaction Documents to which it is a party. Covenants of the ServicerThe Servicer will be required to make positive and negative covenants in favour of the Fund in accordance with the terms of the Receivables Servicing Agreement relating to itself and any subcontracted servicer and its entering into the relevant Transaction Documents to which it is a party. Incentive FeePursuant to the terms of the Receivables Servicing Agreement, upon the occurrence of a Bankruptcy Event in relation to the Originator and following any subsequent sale of any Real Estate, Vehicles or Equipment, an incentive fee corresponding to 1 per cent. of the sale proceeds of each sold Real Estate, Vehicle or Equipment shall be retained for the benefit of the insolvency estate of the Originator.Pursuant to the terms of the Receivables Servicing Agreement, any sale proceeds (as described in the above paragraph) net of the incentive fee will be applied as Asset Disposal Proceeds. Servicer EventThe occurrence of a Servicer Event leading to the replacement of the Servicer or a Notification Event will not, of itself, constitute an Event of Default under the Conditions.The following events will be "Servicer Events" under the Receivables Servicing Agreement, the occurrence of which will entitle the Fund Manager, on behalf of the Fund, to serve a notice on the Servicer (a "Servicer...
Material Term means, in respect of any Receivables Contract, any provision thereof on the date on which the Assigned Right is assigned to the Issuer relating to (i) the maturity date of the Assigned Right, (ii) the ranking of the Related Security (if any) provided by the relevant Obligor, (iii) the spread over the index and interest rate in relation to, respectively, floating rated and fixed rate contracts, (iv) the Principal Outstanding Balance of such Purchased Receivable and (v) the amortisation profile of such Assigned Right.
Material Term is a term in a loan or security agreement that: extends the maturity date of the loan; adds guarantors to the loan; releases guarantors from the loan; adds borrowers to the loan; adds an interest reserve to the loan; amends the interest rate payable on the outstanding principal balance of the loan; increases or decreases the principal amount of the loan; adds collateral as additional security for the loan; and/or amends or expands the type of obligations secured by the loan.