Maximum LTC definition

Maximum LTC means with respect to any Mortgage Asset that is a Bridge Loan, at any time the Maximum LTC for related Underlying Mortgaged Property (a) in the case of Term Loan Collateral for the Term Loans, as set forth on Schedule 1-A to the Fee Letter and (b) in the case of Revolving Loan Collateral (including Mixed Collateral) for the Revolving Loans, the Maximum LTC set forth in the related Confirmation, which shall be no greater than the Maximum LTC set forth in Schedule 1-B to the Fee Letter; provided, however, that all such calculations shall be made taking into account any senior or pari passu debt or other senior or pari passu obligations, including senior or pari passu debt or other senior or pari passu obligations secured directly or indirectly by the applicable Underlying Mortgaged Property.
Sample 1Sample 2
Maximum LTC. With respect to any Mortgage Asset or Purchased Asset, as applicable, that is a Bridge Loan, at any time the Loan–to–Value Ratio for the related Underlying Mortgaged Property set forth on Schedule 1 to the Fee Letter under the heading “Maximum LTV” for the applicable Class of such Mortgage Asset or Purchased Asset, as applicable, and, as applicable, the applicable Type of Underlying Mortgaged Property.
Sample 1
Maximum LTC means with respect to any Mortgage Asset that is a Bridge Loan, at any time the Maximum LTC for related Underlying Mortgaged Property (a) in the case of Term Loan Collateral for the Term Loans, as set forth on Schedule 1-A to the Fee Letter and (b) in the case of Revolving Loan Collateral (including Mixed Collateral) for the Revolving Loans, the Maximum LTC, determined by the Administrative Agent in its discretion and set forth in the related Confirmation, which shall be no greater than the Maximum LTC set forth in Schedule 1-B to the Fee Letter; provided, however, that all such calculations shall be made taking into account any senior or pari passu debt or other senior or pari passu obligations, including senior or pari passu debt or other senior or pari passu obligations secured directly or indirectly by the applicable Underlying Mortgaged Property.
Sample 1

Examples of Maximum LTC in a sentence

  • As of each Quarterly Payment Date prior to the Commitment Termination Date, each Payment Date after the Commitment Termination Date, or any other date of determination, the LTC Percentage, measured as of such date after giving effect to all transactions on such date, will be equal to or less than the Maximum LTC Percentage.

  • Maximum LTC Rider Specified Amount – The maximum amount of Rider coverage that can be elected.

  • The Maximum LTC Rider Specified Amount is stated in the Policy Specification Pages and may be recalculated any time there is a change in the base Policy Specified Amount (Total Specified Amount if the Additional Term Insurance Rider is also elected and In Force).

  • Rider Cost of Insurance RatesThe monthly Rider Cost of Insurance Rates are determined by us, but will not exceed the rates shown in the Table of Guaranteed Maximum LTC Rider Cost of Insurance Rates shown in the Policy Specifications.

  • The Rider Cost of Insurance Rates will not exceed the rates shown in the Table of Guaranteed Maximum LTC Rider Cost of Insurance Rates shown in the Policy Specifications.

  • As of each Quarterly Payment Date prior to the Commitment Termination Date, each Payment Date after the Commitment Termination Date, or any other date of 44 US-DOCS\137537506.9 determination, the LTC Percentage, measured as of such date after giving effect to all transactions on such date, will be equal to or less than the Maximum LTC Percentage.

  • The LTC Percentage after the Conforming Withdrawal will equal the result of the following formula: ((a * b) / c), where (a * b) may never exceed the Maximum LTC GA, and:a.

  • The LTC Percentage after the LTC Charge deduction will equal the result of the following formula: ((a * b) - c) / d, where ((a * b) – c) may never exceed the Maximum LTC GA, and:a.

  • Maximum LTC GAThe LTC GA may not exceed [eight hundred thousand ($800,000)].


More Definitions of Maximum LTC

Maximum LTC means with respect to any Legacy Mortgage Asset that is a Construction Loan, the Maximum LTC determined by the Administrative Agent in its discretion and set forth in the related Confirmation and, with respect to any New Mortgage Asset, the amount set forth in the Fee Letter; provided, however, that all such calculations shall be made taking into account any senior or pari passu debt or other obligations, including debt or other obligations secured directly or indirectly by the applicable Underlying Mortgaged Property.
Sample 1
Maximum LTC means, in the case of Revolving Loan Collateral under the Revolving Loans, the Maximum LTC set forth in the related Confirmation, which shall be no greater than the Maximum LTC set forth in Schedule 1-C to the Fee Letter; provided, however, that all such calculations shall be made taking into account any senior or pari passu debt or other obligations, including debt or other obligations secured directly or indirectly by the applicable Underlying Mortgaged Property.
Sample 1
Maximum LTC. With respect to any Asset or Purchased Asset, as applicable, that is a Bridge Type or a Construction Type, at any time, the LTC for related Underlying Property set forth on Schedule 1 to the Fee Letter under the heading “End LT Cost” for the applicable Asset Class of such Asset or Purchased Asset, as applicable, and the applicable Property Class of Underlying Property; provided, however, the Maximum LTC shall take into account any senior or pari passu debt or other obligations, including debt or other obligations secured directly or indirectly by the applicable Underlying Property.
Sample 1
Maximum LTC means with respect to any Mortgage Asset that is a Bridge Loan or a Construction Loan, at any time the Maximum LTC for related Underlying Mortgaged Property (a) in the case of Term Loan Collateral under the Term Loans, a percentage determined by the Administrative Agent in its discretion between 35% and 110%, (b) in the case of Collateral for the Delayed Draw Term Loans, a percentage determined by the Administrative Agent in its discretion between 35% and 110% and (c) in the case of Revolving Loan Collateral under the Revolving Loans, the Maximum LTC set forth in the related Confirmation, which shall be no greater than the Maximum LTC set forth in Schedule 1-C to the Fee Letter; provided, however, in no event shall the Maximum LTC for a Construction Loan exceed 85% for the applicable Class of such Mortgage Asset and, as applicable, the applicable Property Type of Underlying Mortgaged Property; provided, further, however, that all such calculations shall be made taking into account any senior or pari passu debt or other obligations, including debt or other obligations secured directly or indirectly by the applicable Underlying Mortgaged Property.
Sample 1
Maximum LTC means with respect to any Mortgage Asset that is a Construction Loan, at any time the Maximum LTC for related Underlying Mortgaged Property (a) in the case of Term Loan Collateral for the Term Loans, as set forth on Schedule 1 to the Fee Letter and (b) in the case of Revolving Loan Collateral for the Revolving Loans, the Maximum LTC determined by the Administrative Agent in its discretion and set forth in the related Confirmation; provided, however, that all such calculations shall be made taking into account any senior or pari passu debt or other obligations, including debt or other obligations secured directly or indirectly by the applicable Underlying Mortgaged Property.
Sample 1

Related to Maximum LTC

  • Maximum Limit means that number of issued Shares representing 10% of the total number of issued Shares as at the date of the passing of this Resolution (excluding any Shares which are held as treasury shares as at that date); and

  • Maximum Daily Limit means the maximum allowable "Daily Concentration" (defined above) when expressed as a concentration (e.g. mg/l), otherwise, it means the maximum allowable "Daily Quantity" as defined above, unless it is expressed as a flow quantity. If expressed as a flow quantity it means "Maximum Daily Flow" as defined in Section 22a-430-3(a) of the RCSA.

  • Maximum Program Amount means Common Shares with an aggregate Sales Price of the lesser of (a) the number or dollar amount of Common Shares registered under the effective Registration Statement (defined below) pursuant to which the offering is being made, (b) the number of authorized but unissued Common Shares (less Common Shares issuable upon exercise, conversion or exchange of any outstanding securities of the Company or otherwise reserved from the Company’s authorized capital stock), (c) the number or dollar amount of Common Shares permitted to be sold under Form S-3 (including General Instruction I.B.6 thereof, if applicable), or (d) the number or dollar amount of Common Shares for which the Company has filed a Prospectus (defined below).

  • Maximum Revolver Amount means $100,000,000, decreased by the amount of reductions in the Revolver Commitments made in accordance with Section 2.4(c) of the Agreement.

  • Maximum Availability means, as of any date of determination, the difference of (i) the Facility Amount minus (ii) the balance of all unfunded Advances approved but not yet funded minus (iii) the Aggregate Unfunded Amount plus (iv) all amounts on deposit in the Unfunded Exposure Account, each as of such date of determination.

  • Maximum Legal Rate means the maximum nonusurious interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged or received on the indebtedness evidenced by the Note and as provided for herein or the other Loan Documents, under the laws of such state or states whose laws are held by any court of competent jurisdiction to govern the interest rate provisions of the Loan.