Payment Adjustment Cap definition

Payment Adjustment Cap means, with respect to an Adjustable Rate Mortgage Loan, the maximum amount of the related Monthly Payment as adjusted on a given Payment Adjustment Date in accordance with the terms of the related Mortgage Note.
Sample 1Sample 2Sample 3
Payment Adjustment Cap. With respect to each Negative Amortization ---------------------- Mortgage Loan and each Payment Adjustment Date occurring prior to the initial payment date on which such cap is no longer applicable, the amount (expressed as a percentage) by which the monthly payment on such Negative Amortization Mortgage Loan due in the month preceding such Payment Adjustment Date is multiplied for purposes of calculating the maximum amount to which the monthly payment may be adjusted.
Sample 1

Examples of Payment Adjustment Cap in a sentence

  • Milestone Payment Adjustment Cap has the meaning set forth in Appendix 4 to the Agreement.

  • The Department shall have the right to deduct such cost savings from the Milestone Payment (subject to the Milestone Payment Adjustment Cap set forth in Appendix 4) and Availability Payments.

  • The Department shall have the right to deduct such penalties from the Milestone Payment (subject to the Milestone Payment Adjustment Cap set forth in Appendix 4) and Availability Payments.

  • Final Acceptance Milestone Payment Amount = FAMP – Lesser of (FAMPAC) or (FAMPA) Where: FAMP = Final Acceptance Milestone Payment shown in Exhibit 4 of the Agreement FAMPAC = the amount of the Final Acceptance Milestone Payment Adjustment Cap which shall be $10,000,000.

  • Result: The Department is entitled to a deduction from the Milestone Payment (subject to the Milestone Payment Adjustment Cap set forth in Appendix 4) or an adjustment to the Maximum Availability Payments equal to $1,700,000 (85% of $2,000,000 of savings).

  • Substantial completion Milestone Payment Amount = SCMP – Lesser of (SCMPAC) or (SCMPA)Where: SCMP = Substantial Completion Milestone Payment shown in Exhibit 4 of the Agreement SCMPAC = the amount of the Substantial Completion Milestone Payment Adjustment Cap which shall be $10,000,000.

Related to Payment Adjustment Cap

  • Payment Adjustment Date With respect to each ARM Loan, the date on which the Borrower's Monthly Payment changes in accordance with the terms of the related Mortgage Note.

  • Net Adjustment Amount means an amount, which may be positive or negative, equal to the Closing Net Working Capital as finally determined pursuant to this Section 2.9 minus the Preliminary Net Working Capital as set forth on the Preliminary Closing Statement;

  • Adjustment Payment means, in respect of any Security, the payment (if any) determined by the Determination Agent as is required in order to reduce or eliminate, to the extent reasonably practicable, any transfer of economic value to or from the Issuer as a result of the replacement of the Index by the Alternative Pre-nominated Index. The Determination Agent may determine that the Adjustment Payment is zero.

  • True-Up Adjustment means any Annual True-Up Adjustment or Interim True-Up Adjustment, as the case may be.

  • Contract Adjustment Payments means the payments payable by the Company on the Special Payment Date or the Payment Dates in respect of each Purchase Contract, at a rate per year of [•]% of the Stated Amount per Purchase Contract.

  • Post-Closing Adjustment Amount has the meaning set forth in Section 1.9.3.

  • Adjustment Amount For any Distribution Date, the difference between (A) the sum of the Class A Principal Balance and the Class B Principal Balance as of the related Determination Date and (B) the sum of (i) the sum of the Class A Principal Balance and the Class B Principal Balance as of the Determination Date succeeding such Distribution Date and (ii) the aggregate amount that would have been distributed to all Classes as principal in accordance with Section 4.01(a) for such Distribution Date without regard to the provisos in the definitions of Class B-1 Optimal Principal Amount, Class B-2 Optimal Principal Amount, Class B-3 Optimal Principal Amount, Class B-4 Optimal Principal Amount, Class B-5 Optimal Principal Amount and Class B-6 Optimal Principal Amount.

  • Final Adjustment Amount has the meaning set forth in Section 2.4(c).

  • CPI Adjustment means the quotient of (i) the CPI for the month of January in the calendar year for which the CPI Adjustment is being determined, divided by (ii) the CPI for January of 2007.

  • XXXXX Adjustment means, with respect to XXXXX, 0.0326% per annum.

  • Billing Adjustment Credit To provide Customer the benefit of the rates and discounts in the Amendment as of the Effective Date and until such rates and discounts are implemented, the Company shall provide Customer with a one-time billing adjustment credit equal to $152,300.00 plus applicable taxes and surcharges. This credit shall compensate Customer for the difference between the Tariff/Guide/list rates invoiced during the 1st full billing cycle following Customer's signature date above and the rates and discounts in this Agreement.

  • Closing Adjustment Amount shall have the meaning set forth in Section 3.2(c).

  • Adjustment Escrow Amount means $1,000,000.

  • Estimated Adjustment Amount has the meaning set forth in Section 2.5(a).

  • Interest Adjustment Date With respect to a Mortgage Loan, the date, if any, specified in the related Mortgage Note on which the Mortgage Interest Rate is subject to adjustment.

  • Adjustment Escrow Fund means the Adjustment Escrow Amount deposited with the Escrow Agent, as such amount may be increased or decreased as provided in this Agreement and the Escrow Agreement, including any interest or other amounts earned thereon.

  • Purchase Price Adjustment Escrow Amount means $500,000.

  • Post-Closing Adjustment has the meaning set forth in Section 2.04(b)(ii).

  • Interest Adjustment Rate means the interest adjustment rate assigned to the Security. The initial Interest Adjustment Rate is the interest adjustment rate specified in the Table (the "Initial Interest Adjustment Rate").The Issuer may adjust, in its reasonable discretion pursuant to §315 BGB and in consideration of the relevant capital market practice and by acting in good faith (including market interest rates and the interest-rate expectations of the market), the Interest Adjustment Rate, including the Initial Interest Adjustment Rate, on any Scheduled Trading Day within the range (deviation (+) or (-)) specified in the Table for any given Security. The adjusted rate will be published without undue delay in accordance with §12.

  • Equity Adjustment means the dollar amount resulting by subtracting the Book Value, as of Bank Closing, of all Liabilities Assumed under this Agreement by the Assuming Bank from the purchase price, as determined in accordance with this Agreement, as of Bank Closing, of all Assets acquired under this Agreement by the Assuming Bank, which may be a positive or a negative number.

  • Purchase Price Adjustment has the meaning set forth in Section 2.6.

  • Maximum Settlement Amount means the maximum amount the Company may be required to pay pursuant to this Settlement, which is the sum of Three Hundred Thousand Dollars ($300,000), excluding any of the Company’s employer-side share of FICA, FUTA, and other similar, mandatory employer-side payroll taxes. In no event shall the Maximum Settlement Amount exceed the foregoing sum.

  • Spread Adjustment means 100 basis points.

  • Adjustment Escrow Account means the escrow account established by the Escrow Agent pursuant to the Escrow Agreement for purposes of holding the Adjustment Escrow Amount and any interest or earnings accrued thereon or in respect thereof.

  • True-Up Amount means the difference between the ABO calculated by using the member’s actual creditable service and the actual final average compensation as of the member’s effective date in the FRS Investment Plan and the ABO initially transferred.

  • Adjustment Price means the lowest Underlying Price within the Adjustment Period after the Underlying Price is for the first time equal to or below the Adjustment Threshold.