Offset Loan definition

Offset Loan means a Loan which permits the Borrower to offset the amount of monies standing to the credit of specified savings account(s) against the current balance of their Loan for the purposes of reducing the interest bearing balance of their Loan; Option Date means the date that the Underpayment Option or Tested Underpayment Option, as applicable, is made;
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Offset Loan has the meaning assigned that term in the Management Services Agreement.
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Offset Loan means a Loan which permits the Borrower to offset the amount of monies standing to the credit of specified savings account(s) against the current balance of their Loan for the purposes of reducing the interest-bearing balance of their Loan; Option Date means the date that the Underpayment Option or Tested Underpayment Option, as applicable, is made; Optional Redemption Date has the meaning given to it in Condition 7.3(a) (Optional Redemption of the Class A Notes in Full); Ordinary Resolution has the meaning given to it in paragraph 1 of Schedule 4 (Provisions for Meetings of Noteholders) to the Trust Deed;
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Examples of Offset Loan in a sentence

  • Further details of the Offset Loan Agreement are set out in section 11.9 of this Prospectus.

  • The Offset Loan Agreement initially provided for a facility limit of $2,681,927 which was increased on 29 September 2013 to $4,681,927.

  • Consideration for the issue of New Shares and New Options to Lenark Pty Ltd atf Lenark Investment may be made by offsetting such amount against amounts owing by Atrum to Lenark Pty Ltd under the Offset Loan Agreement or alternatively by payment in cash or a combination of both at Lenark Pty Ltd’s election.

  • The current balance outstanding under the Offset Loan Agreement is $2,573,764.

  • The balance outstanding under the Offset Loan Agreement is repayable at any time, but not later than 31 December 2016.

  • On or about 30 June 2013, Atrum entered into the Offset Loan Agreement with Lenark Pty Ltd.

  • Consideration for the issue of any Shortfall Securities to Lenark Pty Ltd atf Lenark Investment may be made by offsetting such amount against amounts owing by Atrum to Lenark Pty Ltd under the Offset Loan Agreement or alternatively by payment in cash or a combination of both at Lenark Pty Ltd’s election.

  • The fertilizer should be applied at the time of seeding and included with the seed and lime.

  • Atrum may partially repay the Offset Loan Agreement by offsetting against the money owing under the Offset Loan Agreement the consideration payable by Lenark Pty Ltd in respect of the take up of its full entitlement under the Entitlement Offer and in respect of any subscription for Shortfall Securities as sub- underwriter (see section 7.3.3 of this Prospectus).

  • On 30 June 2013, the Company executed an Offset Loan Agreement with Lenark Pty Ltd, an entity associated with Chairman Mr James Chisholm.


More Definitions of Offset Loan

Offset Loan means a Loan which permits the Borrower to offset the amount of monies standing to the credit of specified savings account(s) against the current balance of their Loan for the purposes of reducing the interest bearing balance of their Loan; One-Month Sterling LIBOR means the London Interbank Offered Rate for one-month Sterling deposits as displayed on Reuters Screen page LIBOR01; Option Date means the date that the Underpayment Option or Tested Underpayment Option, as applicable, is made; Ordinary Resolution has the meaning given to it in paragraph 1 of Schedule 4 to the Trust Deed; Original LTV Ratio means the ratio calculated by calculated by dividing the Total Debt Advanced by the Original Valuation;
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Related to Offset Loan

  • RFR Loan means a Loan that bears interest at a rate based on the Adjusted Daily Simple SOFR.

  • Funding Loan means the Funding Loan in the original maximum principal amount of $ made by Funding Lender to Governmental Lender under the Funding Loan Agreement, the proceeds of which are used by the Governmental Lender to make the Borrower Loan.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • Subsidy Loan Any Mortgage Loan subject to a temporary interest subsidy agreement pursuant to which the monthly interest payments made by the related Mortgagor will be less than the scheduled monthly interest payments on such Mortgage Loan, with the resulting difference in interest payments being provided by the employer of the Mortgagor. Each Subsidy Loan will be identified as such in the Mortgage Loan Schedule.

  • Junior Loan has the meaning provided in the Recitals hereto.

  • Buydown Loan A Mortgage Loan for which the Mortgage Interest Rate has been subsidized through a Buydown Fund provided at the time of origination of such Mortgage Loan.

  • Default Loan has the meaning set forth in Section 3.02(b).

  • First Lien Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Second Lien Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • Delinquent Loan A Mortgage Loan that is delinquent at least sixty (60) days in respect of its Monthly Payments or Balloon Payment, if any, in either case such delinquency to be determined without giving effect to any Grace Period.

  • Subordinate Prepayment Percentage As to any Distribution Date, 100% minus the Senior Prepayment Percentage for such Distribution Date.

  • Wet Loan means a Purchased Loan originated and owned by the Seller immediately prior to being purchased by the Buyers:

  • Simple Interest Loan means any Loan under which the portion of a payment allocable to interest and the portion allocable to principal is determined by allocating a fixed level payment between principal and interest, such that such payment is allocated first to the accrued and unpaid interest at the Annual Percentage Rate for such Loan on the unpaid principal balance and the remainder of such payment is allocable to principal.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Net Aggregate Prepayment Interest Shortfall With respect to any Distribution Date, the amount, if any, by which (a) the aggregate of all Prepayment Interest Shortfalls incurred in connection with the receipt of Principal Prepayments on the Mortgage Loans during the related Due Period, exceeds (b) the aggregate amount deposited by the Master Servicer in the Certificate Account for such Distribution Date pursuant to Section 3.19 in connection with such Prepayment Interest Shortfalls.

  • Term Loan Obligations means the “Obligations” as defined in the Term Loan Credit Agreement.

  • Interest Advance means an Advance made pursuant to Section 2.02(a).

  • U.S. Revolving Loan means a Revolving Loan made to the U.S. Borrower by the U.S. Revolving Lenders.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Aggregate Class A Unpaid Interest Shortfall As to any Distribution Date, an amount equal to the sum of the Class A Unpaid Interest Shortfalls for all the Classes of Class A Certificates.

  • SOFR Loan means a Loan that bears interest at a rate based on Adjusted Term SOFR, other than pursuant to clause (c) of the definition of “Base Rate”.

  • Loan Group II Cap With respect to the Group II Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group II Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.

  • Outstanding Interest Advances means, as of the last day of a Collection Period with respect to a Receivable, the portion of Outstanding Advances allocable to interest.

  • Aggregate Loan Group Balance As to any Loan Group and as of any date of determination, will be equal to the aggregate of the Stated Principal Balances of the Mortgage Loans in that Loan Group, except as otherwise provided, as of the last day of the related Collection Period.