Open Mortgage definition

Open Mortgage means a mortgage that lets you pay any amount you want without you having to pay a Prepayment charge. The minimum Prepayment amount is $500.
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Open Mortgage means a mortgage that lets you pay any amount you want without you having to pay a Prepayment charge. If you have an Open Mortgage, this will be referred to in item 10 of the Registered Mortgage. The minimum Prepayment amount is $500.
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Open Mortgage means a mortgage that lets you pay any amount you want without you having to pay a Prepayment charge. The minimum Prepayment amount is $500. Outstanding Amount means the total amount remaining to be paid on the Mortgage at any time. It includes the portion of the Principal Amount that remains unpaid, interest, additional amounts advanced, and amounts we have paid because you have not kept a Promise.
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Examples of Open Mortgage in a sentence

  • If you have an Open Mortgage you may prepay $500 or more of the Outstanding Amount at any time without a Prepayment charge.

  • If you have an Open Mortgage and want to prepay it, you must pay back a portion of any cash back amount you received from us, as called for under Section 6.6.

  • If you have an Open Mortgage, you may prepay $500 or more of the Outstanding Amount at any time without a Prepayment charge.

  • Table VI (Descriptions of Open Mortgage Investments of Prior Limited Partnerships) is contained in Part II of the Registration Statement.

  • If you have an Open Mortgage and you want to prepay it, you must pay back a portion of any cash back amount you received from us, as called for under Section 6.7.

  • Additional information regarding the Description of Open Mortgage Investments of Prior Limited Partnerships is provided in Table VI in Part II of this Registration Statement.

  • If you have an Open Mortgage and you prepay it, you must pay back a portion of any cash back amount you received from us, as called for under Section 6.7.

  • You have granted us the following Mortgage: (delete inapplicable provisions) Your Mortgage is an Open Mortgage.

  • If you have an Open Mortgage and you want to prepay it, you will have to repay a portion of the cash back amount you received from us, as set out in section 7.8.

  • None of the following Prepayment options apply if you are in Default.6.2 Prepaying an Open MortgageIf you have an Open Mortgage you may prepay $500 or more of the Outstanding Amount at any time without a Prepayment charge.


More Definitions of Open Mortgage

Open Mortgage means a mortgage that lets you pay any amount you want without you having to pay a Prepayment charge. The minimum Prepayment amount is $500. Outstanding Amount means the total amount remaining to be paid on the Mortgage at any time. It includes the portion of the Principal Amount that remains unpaid, interest, additional amounts advanced, and amounts we have paid because you have not kept a Promise. Prepayment means repaying part of the Principal Amount ahead of schedule. Depending on the type of Mortgage you have and the amount you are paying, you may have to pay a Prepayment charge when you make a prepayment.
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Open Mortgage means a Charge which is stated to be an Open Mortgage in Box 10;
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Open Mortgage means a Charge which is stated to be an Open Mortgage in the Computer Field entitled “Additional Provisions”;
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Related to Open Mortgage

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Mortgage shall have the meaning assigned to such term in the recitals.

  • Fee Mortgage Any mortgage, pledge agreement, security agreement, assignment of leases and rents, fixture filing or similar document creating or evidencing a lien on Landlord’s interest in the Leased Property or any portion thereof (or an indirect interest therein, including without limitation, a lien on direct or indirect interests in Landlord) in accordance with the provisions of Article XXXI hereof.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

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

  • Ship Mortgage means a Ship Mortgage or Additional Ship Mortgage substantially in the form of Exhibit E-2 to the 2008 Credit Agreement (with such changes as are reasonably consented to by the Collateral Agent to account for local law matters) made by the applicable Loan Party in favor of Collateral Agent for the benefit of the Secured Parties, as the same may be amended, supplemented or otherwise modified from time to time, together with an Earnings Assignment and an Insurance Assignment made by the applicable Loan Party for each Mortgaged Vessel, and such other agreements reasonably acceptable to Collateral Agent as shall be necessary to comply with applicable requirements of law and effective to grant in favor of Collateral Agent for the benefit of the Secured Parties a first preferred mortgage within the meaning of the Ship Mortgage Act on the Mortgaged Vessel covered thereby, subject only to Permitted Liens.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

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

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

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

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

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

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage.

  • Park Sienna Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Sienna is the applicable Seller.

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

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

  • Type 1 Mortgage Loan Any of the Mortgage Loans identified in Exhibit F-1 hereto, as such Exhibit may be amended from time to time in connection with a substitution pursuant to Sections 2.02 or 2.06, serviced under the WFHM Servicing Agreement and having a Mid-Month Receipt Period with respect to all types of Unscheduled Principal Receipts.

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • Jumbo Mortgage Loan Unless defined otherwise in the Transactions Terms Letter, a first lien Mortgage Loan (i) for which the original loan amount is greater than the applicable conventional conforming loan limits set by the Federal Housing Finance Authority in the jurisdiction where the related Mortgaged Property is located and (ii) which meets the transaction requirements set forth on Schedule 1 of the Transactions Terms Letter.

  • Owner Mortgage Loan File A file maintained by the Custodian for each Mortgage Loan that contains the documents specified in Section 2.01(a) and any additional documents required to be added to the Owner Mortgage Loan File pursuant to this Agreement.

  • Split Mortgage Loan Any Mortgage Loan that is part of a Loan Combination. The only Split Mortgage Loans that are assets of the Trust as of the Closing Date are those that have the respective loan numbers (as set forth on the Mortgage Loan Schedule) listed on the Loan Combination Table under the column heading “Loan No. for related Mortgage Loan.”

  • Facility Mortgage As defined in Section 13.1.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • Second Mortgage means a mortgage from which the proceeds of a loan or other extension of credit made by a third person are secured by a mortgage on the real property for which the mortgagor has used the proceeds of the loan or other extension of credit to pay all or part of the purchase price of the property.

  • Mortgage Assignment means an assignment of the Mortgage in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage.