Mortgage Principal definition

Mortgage Principal shall have the meaning ascribed to the term “Principal” in the Mortgage Loan Agreement. Lender and Borrower acknowledge and agree that, as of the date hereof, there is no “Mortgage Principal”, and that the representations, warranties, covenants and other provisions of this Agreement that relate to “Mortgage Principal” shall, insofar as such provisions relate to “Mortgage Principal”, be inapplicable unless and until Mortgage Borrower shall be a partnership having a general partner or a limited liability company that does not comply with the provisions of Sections 4.1.35(aa), (bb) (cc) and (dd) of the Mortgage Loan Agreement.
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Mortgage Principal means the “Principal” as defined in the Mortgage Loan Agreement.
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Mortgage Principal means, with respect to each Mortgage Borrower Entity that is a limited partnership, the general partner of such Mortgage Borrower Entity.
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Examples of Mortgage Principal in a sentence

  • The Agency hereby grants to the Company exemption from mortgage recording taxes for one or more Mortgages securing an aggregate principal amount not to exceed the Maximum Mortgage Principal Amount, or such greater amount as approved by the Agency in its sole and absolute discretion, in connection with the financing of the Project and any future financing, refinancing or permanent financing of the costs of the Project (the “Mortgage Recording Tax Exemption”).

  • The Agency hereby grants to the Company exemption from mortgage recording taxes for one or more mortgages (collectively, the "Mortgage") securing an aggregate principal amount not to exceed Maximum Mortgage Principal Amount, or such greater amount as approved by the Agency in its sole and absolute discretion, in connection with the financing of the Project and any future financing, refinancing or permanent financing of the costs of the Project (the "Mortgage Recording Tax Exemption").

  • Notwithstanding the foregoing, no Prepayment Consideration will be due as to a prepayment of the Loan in connection with (i) application of insurance or condemnation proceeds required by Lender pursuant to this Loan Agreement or the Mortgages in the absence of an Event of Default, (ii) Scheduled Mortgage Principal Payments.

  • Monthly Household IncomeMonthly Household Expenses/Debt (*Principal Residence Expense Only)Household Assets Monthly Gross wages $First Mortgage Principal & Interest Payment* $ Checking Account(s) $ Overtime$Second Mortgage Principal & Interest Payment*$ Checking Account(s)$Self employment Income$Homeowner's Insurance*$Savings / Money Market$Unemployment Income$Property Taxes*$CDs$Untaxed Social Security / SSD$HOA/Condo Fees*$Stocks / Bonds$Food Stamps/Welfare$Credit Cards/Installment debt (total min.

  • If, on a Payment Date, Mortgage Principal Repayments for the Collection Period preceding that Payment Date are insufficient to fund Redraws for that Collection Period in accordance with this Series Notice, then the Trust Manager may give the Trustee a Note Issue Direction to issue a series of Class A1 Notes in accordance with clause 12 of the Master Trust Deed and this clause 5.

  • Borrower shall cause each Mortgage Principal to forever warrant, defend and preserve the title to such ownership interests in the applicable Mortgage Borrower Entity and to forever warrant and defend the same to Lender against the claims of all persons whomsoever.

  • The 1st Mortgage Principal Reduction Program will assist the underemployed and/or income restricted homeowner candidates to keep occupancy and ownership of their home.

  • Program design, eligibility, and the type of assistance vary with each local program.Community Second Mortgage Principal Reduction Program (C2MPRP) Offered by Community Housing Works, the Community 2nd Mortgage Principal Reduction Program provides capital on a 35/65 matching basis with participating nonprofit, credit union, and small community lenders.

  • The Agency hereby grants to the Company exemption from mortgage recording taxes for one or more Mortgages securing an aggregate principal amount not to exceed Maximum Mortgage Principal Amount, or such greater amount as approved by the Agency in its sole and absolute discretion, in connection with the financing of the Project and any future financing, refinancing or permanent financing of the costs of the Project (the “Mortgage Recording Tax Exemption”).

  • Mortgage Borrower is in compliance with, and Borrower shall cause Mortgage Borrower and Mortgage Principal to continue to comply with, the provisions of the Mortgage Loan Documents which relate to the special purpose / single purpose nature of Mortgage Borrower and Mortgage Principal.


More Definitions of Mortgage Principal

Mortgage Principal means (a) with respect to El Con Mortgage Borrower, Conquistador Holding (SPE), Inc. (b) with respect to El San Xxxx Mortgage Borrower, each of W-San Xxxx Hotel Corp. and W-San Xxxx Holding Corp.
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Mortgage Principal shall have the meaning set forth in the recitals to this Agreement.
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Mortgage Principal means all payments (including prepayments) of principal called for by any Program Obligation and paid to the Corporation from any source, including both timely and delinquent payments.
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Related to Mortgage Principal

  • Certificate Principal means principal payable in respect of the Investor Certificates of any Series pursuant to Article IV of this Agreement.

  • The Principal means the Principal of the College, or the Principal’s authorised representative.

  • Mortgage Loan Principal Balance means, at any date of determination, the aggregate principal balance of the Notes evidencing the Mortgage Loan.

  • Premium Mortgage Loan Any Group 1 Premium Mortgage Loan or Group 2 Premium Mortgage Loan.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.

  • Initial Mortgage Rate As to each Mortgage Loan, the Mortgage Rate in effect prior to the Initial Adjustment Date.

  • Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.

  • Group I Mortgage Loan A Mortgage Loan assigned to Loan Group I. All Group I Mortgage Loans have a principal balance at origination that conforms to Xxxxxxx Mac loan limits.

  • Relief Act Mortgage Loan Any Mortgage Loan as to which the Scheduled Payment thereof has been reduced due to the application of the Relief Act.

  • Liquidation Principal The principal portion of Liquidation Proceeds received with respect to each Mortgage Loan which became a Liquidated Mortgage Loan (but not in excess of the principal balance thereof) during the Prior Period.

  • 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.

  • Group II Mortgage Loan A Mortgage Loan assigned to Loan Group II with a Stated Principal Balance at origination that may or may not conform to Xxxxxx Mae and Xxxxxxx Mac loan limits.

  • Residential mortgage loan means any loan primarily for

  • 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.

  • 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.

  • Initial Principal Balance means, in respect of a Receivable, the amount advanced under the Receivable toward the purchase price of the Financed Vehicle and related costs, including accessories, service and warranty contracts, insurance premiums, other items customarily financed as part of retail motor vehicle loans and/or retail installment sales contracts and other fees charged by the Transferor or Dealer and included in the amount to be financed, the total of which is shown as the initial principal balance in the note and security agreement or retail installment sale contract evidencing and securing such Receivable.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of January 30, 2008 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer"), axx XXBC Bank USA, National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and, subject to the prior rights of the Group I-A Certificates (and related Exchangeable Certificates), the Class I-A-PO Component and each Class of Group I-B Certificates bearing a lower numerical designation as specified in the Agreement, any Class I-B-3 Distribution Amount required to be distributed to Holders of the Class I-B-3 Certificates on such Distribution Date, subject to adjustment, in certain events, as specified in the Agreement. The pass-through rate on the Class I-B-3 Certificates applicable to each Distribution Date will be 6.000% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall and any Relief Act Shortfall allocated to the Class I-B-3 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Class P Mortgage Loan Any of the Class I-P, Class II-P or Class III-P Mortgage Loans.

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Note Principal Balance means, with respect to each Note, at any time of determination, the Principal Balance for such Note, as set forth on the Mortgage Loan Schedule, less any payments of principal thereon (or any New Notes issued in substitution thereof) received by the related Note Holder (or any holders of New Notes in substitution thereof) or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • Group I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Initial Mortgage Loan A Mortgage Loan conveyed to the Trust Fund on the Closing Date pursuant to this Agreement as identified on the Mortgage Loan Schedule delivered to the Trustee on the Closing Date.