Minimum Interest Recovery definition

Minimum Interest Recovery. The amount, if any, by which $1,000,000 exceeds the amount of interest actually paid by Borrower to Lender prior to repayment of the Loan in full or acceleration of the Loan.
Sample 1
Minimum Interest Recovery. As such term is defined in Section 1.1(d).
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Minimum Interest Recovery. The amount, if any, by which $580,000 exceeds the amount of interest actually paid by Borrower to Lender prior to repayment of the Loan in full or acceleration of the Loan. NC LLCs: Collectively, Newbern Station Holdings, LLC and Fountains at Nxxxxxx Station, LLC, each a North Carolina limited liability company, and each of which was merged into TS New Bern, LLC, a Delaware limited liability company, as of the date hereof.
Sample 1

Examples of Minimum Interest Recovery in a sentence

  • Upon any repayment of the Loan in full, whether on the Maturity Date or on any other date (including upon the acceleration of the Loan by Lender as provided herein), Borrower will pay to Lender the Exit Fee, PLUS, the Minimum Interest Recovery.

  • The Exit Fee and Minimum Interest Recovery shall be deemed earned upon the execution of this Agreement, and Borrower hereby acknowledges and agrees that the Exit Fee and Minimum Interest Recovery is each a bargained for consideration and a material inducement to Lender’s making the Loan and is not a penalty.

  • Borrower shall have the right to make prepayments of the Loan, in full at any time on or after December 1, 2012 provided Borrower (i) gives Lender at least seven (7) days’ prior written notice, (ii) pays the Exit Fee due hereunder based upon the amount of the Loan prepaid at such time, and (iii) pays the Minimum Interest Recovery, if any.

  • The Exit Fee and Minimum Interest Recovery shall be deemed earned upon the execution of this Agreement, and Borrowers hereby acknowledge and agree that the Exit Fee and Minimum Interest Recovery is each a bargained for consideration and a material inducement to Lender’s making the Loan and is not a penalty.

  • To secure the Mortgagor’s prompt, punctual, and faithful payment and performance of all and each of the present and future Liabilities to the Mortgagee, including, without limitation, those arising under the Note (which shall include, without limitation, the Minimum Interest Recovery and the Exit Fee, as defined in the Note), the Mortgagor hereby grants to the Mortgagee a continuing security interest in and to, and assigns to the Mortgagee, the Collateral (as that term is defined in Section 3-3 herein).

  • The Exit Fee and Minimum Interest Recovery shall be deemed earned upon the execution of this Agreement, and Borrower hereby acknowledges and agrees that the Exit Fee and Minimum Interest Recovery is each a bargained for consideration and a material inducement to Lender's making the Loan and is not a penalty.

  • Borrower shall have the right to make prepayments of the Loan in full, but not in part, at any time, provided Borrower (i) gives Lender at least seven (7) days' prior written notice, (ii) pays the Exit Fee due hereunder based upon the amount of the Loan prepaid at such time, and (iii) pays the Minimum Interest Recovery, if any.

  • Upon any repayment of the Loan in full, whether on the Maturity Date or on any other date (including upon the acceleration of the Loan by Lender as provided herein), Borrowers will pay to Lender the Exit Fee, PLUS, the Minimum Interest Recovery.

  • The Commission should notabandon this policy by adopting the NOPR’s one-size-fits-all compensation proposal.” [footnote omitted]).

  • No Exit Fee or Minimum Interest Recovery shall be due or payable in connection with the application by Lender of Insurance Proceeds to the Loan in accordance with Article 7 herein.


More Definitions of Minimum Interest Recovery

Minimum Interest Recovery means a minimum interest recovery equal to One Hundred Fifty Thousand and 00/100 Dollars ($150,000.00), minus the amount of interest (excluding interest at the Default Rate) actually paid to Lender.
Sample 1

Related to Minimum Interest Recovery

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Minimum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased on any Adjustment Date.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Interest Remittance Amount For any Distribution Date and Loan Group, an amount equal to the sum of (1) all interest collected (other than related Payaheads, if applicable) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Loan Group during the related Collection Period, the interest portion of Payaheads previously received and intended for application in the related Collection Period and the interest portion of all Payoffs and Curtailments received on the Mortgage Loans in such Loan Group during the related Prepayment Period (other than interest on Principal Prepayments that occur during the portion of the Prepayment Period that is in the same calendar month as the related Distribution Date), less (x) the Servicing Fees (other than any Excess Servicing Fee) and any lender paid Primary Insurance Policy premiums with respect to such Mortgage Loans and (y) unreimbursed Advances and other amounts due to a Servicer, the Back-Up Servicer or the Trustee with respect to such Mortgage Loans, to the extent allocable to interest, (2) all Compensating Interest Payments paid by a Servicer with respect to the related Mortgage Loans with respect to such Distribution Date, (3) the portion of any Substitution Adjustment Amount and Repurchase Price paid with respect to such Mortgage Loans during the calendar month immediately preceding the Distribution Date, in each case allocable to interest and the proceeds of any purchase of the Mortgage Loans by the Terminating Entity pursuant to Section 9.01 in an amount not exceeding the interest portion of the Par Value, (4) all Net Liquidation Proceeds, and any Insurance Proceeds and other recoveries (net of unreimbursed Advances, Servicing Advances and expenses, to the extent allocable to interest, and unpaid Servicing Fees) collected with respect to such Mortgage Loans during the prior calendar month, to the extent allocable to interest, (5) any amounts withdrawn from the Capitalized Interest Amount to pay interest on the related Certificates with respect to such Distribution Date and (6) the aggregate Excess Servicing Fee to be distributed to the Class A-IO-S Certificates.

  • Maximum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the maximum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be increased on any Adjustment Date.

  • Mortgage Interest Rate For any Mortgage Loan, the per annum rate at which interest accrues on such Mortgage Loan pursuant to the terms of the related Mortgage Note.

  • Weighted Average Net Mortgage Interest Rate As to any Distribution Date, a rate per annum equal to the average, expressed as a percentage of the Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date, weighted on the basis of the respective Scheduled Principal Balances of such Mortgage Loans.

  • Certificate Interest Rate With respect to each Class of Certificates and any Distribution Date, the applicable per annum rate set forth or described in the Preliminary Statement hereto.

  • Class E Interest Rate means 4.99% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-1 Interest Rate means 0.19000% per annum (computed on the basis of the actual number of days in the related Interest Accrual Period divided by 360).

  • Class C Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Contract Interest Rate means the lesser of (a) the highest rate permitted under Requirements of Law or (b) 200 basis points per annum plus the rate per annum equal to the publicly announced prime rate or reference rate for commercial loans to large businesses in effect from time to time quoted by Citibank, N.A. as its "prime rate." If a Citibank, N.A. prime rate is not available, the applicable prime rate shall be the announced prime rate or reference rate for commercial loans in effect from time to time quoted by a bank with $10 billion or more in assets in New York City, N.Y., selected by the Party to whom interest is being paid. "Contract Price" means the applicable price, expressed in $/MWh for Net Output and Capacity Rights stated in Section 5.1.

  • Mortgage Interest Rate Cap With respect to an Adjustable Rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note.

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Class B Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Interest Rate Cap Payment (a) With respect to the Class A-2 Certificates and the first 36 Distribution Dates, the amount, if any, equal to the product, determined on an "actual/360" basis, of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class A-2 Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; (ii) the applicable Class A-2 notional amount set forth on Schedule A to the Class A-2 Cap Agreement for such Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; (b) with respect to the Class M Certificates and the first 44 Distribution Dates, the amount, if any, equal to the product, determined on an "actual/360" basis, of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; (ii) the applicable Class M notional amount set forth on Schedule A to the Class M Cap Agreement for such Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; and (c) with respect to the Class B Certificates, and the first 44 Distribution Dates, the amount, if any, equal to the product, determined on an "actual/360" basis, of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class B Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; (ii) the applicable Class B notional amount set forth on Schedule A to the Class B Cap Agreement for such Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement.

  • Interest Reserve Amount With respect to each Mortgage Loan that is an Interest Reserve Loan (or the related successor REO Mortgage Loan), for any Distribution Date that occurs during February of any year or during January of any year that is not a leap year, an amount equal to one day’s interest accrued at the related Net Mortgage Rate on the related Stated Principal Balance as of the end of the Collection Period related to such Distribution Date, but prior to giving effect to the application of any amounts due on the Due Date occurring in such Collection Period, to the extent that a Monthly Payment is Received by the Trust with respect to such Interest Reserve Loan for the related Due Date in the same month as such Distribution Date on or before the related Master Servicer Remittance Date or a P&I Advance is made under this Agreement with respect to such Interest Reserve Loan by such Distribution Date. For purposes of calculating Interest Reserve Amounts, the Net Mortgage Rate for each Interest Reserve Loan shall be the Net Mortgage Rate in effect (including as a result of any step-up provision) under the original terms of such Interest Reserve Loan in effect as of the Closing Date, without regard to any modifications, extensions, waivers or amendments of such Interest Reserve Loan subsequent to the Closing Date (whether entered into by the applicable Master Servicer, the applicable Special Servicer, the Non-Trust Master Servicer or the Non-Trust Special Servicer or in connection with any bankruptcy, insolvency or other similar proceeding involving the related Borrower).

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Interest Receivable means, in respect of the relevant Measurement Period ending on any Measurement Date, all interest received by or accrued to the Issuer during such period, including any amounts received by the Issuer in terms of any Treasury Transaction (as such relates to the hedging by the Issuer of its interest rate risk) (other than interest which is not received or receivable in funds that are freely remittable to South Africa), all as reflected in, and/or ascertained from, the Financial Statements for that Measurement Period;

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Minimum Interest Charge has the meaning given in Section 2.2(b).

  • Class Interest Shortfall As to any Distribution Date and Class, the amount by which the amount described in clause (i) of the definition of Class Optimal Interest Distribution Amount for such Class exceeds the amount of interest actually distributed on such Class on such Distribution Date pursuant to such clause (i).