Performance Loan definition

Performance Loan. Mortgage Loans that provide borrowers the potential of margin reduction for good payment history. If, at the time of evaluation, the related borrower has made scheduled payments in full since the origination of the loan with a maximum of one late payment (which, however, cannot be in the month of evaluation) the Mortgage Loan is eligible for a reduction (ranging from 0.50% to 1.00%) in the margin used to calculate the Mortgage Rate.
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Performance Loan has the meaning set forth in Section 6.5(c).
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Examples of Performance Loan in a sentence

  • Her report provides Alternative Financing Program Report, Portfolio Performance, Loan Information, Creating an Accessible Workforce System for All contracts, and AT, AEM, and ICT Accessibility for Pre-ETS contracts.

  • The 329,012 Performance Loan Notes are convertible into 32,901,200 new Ordinary Shares, equivalent to a price of 1p per share.

  • The Performance Loan has an increased total loan principal amount of $1,950,000, plus Accrued Interest, and is a full recourse loan with a stated term that ends on August 13, 2004 except as otherwise provided in the Amended and Restated Promissory Note.

  • He stated he supports the Railroad Quiet Zone and will be speaking with Mr. Charles Hagood of the Federal Railroad Administration in the near future.

  • The Performance Loan is a full recourse loan with a three (3) year term and is evidenced by the Performance Loan Agreement and Promissory Note that are attached as Exhibits A and B, respectively.

  • Any unpaid principal and interest on the Performance Loan remains a full recourse obligation for you and may be repaid by you during or at the end of the Performance Loan term.

  • To the extent that you do not satisfy the withholding requirements on the Performance Loan Forgiveness, then the amount of actual Performance Loan Forgiveness shall be reduced by such unsatisfied withholding amount and the amount of such reduction shall instead be treated as a cash bonus ("Withholding Bonus").

  • The Performance Loan shall accrue interest at the greater of the Prime rate or Applicable Federal Rate ("AFR"), payable on each anniversary of the Performance Loan.

  • Enrollment is projected to increase by 2.4 MM in 2019, a 11.5% projected increase from 20.2MM in 2018 to 22.6MM in 2019.

  • The Cash Performance Bonus and Change in Control loan forgiveness provisions previously provided for in your Agreement are hereby replaced by the Performance Loan Forgiveness provision in Section 1(b) of this Amendment and such former provisions shall no longer be applicable upon the execution of this Amendment.

Related to Performance Loan

  • Cash Award means an award denominated in cash.

  • Performance Grant means an Award subject, in part, to the terms, conditions and restrictions described in Section 9, pursuant to which the recipient may become entitled to receive cash, Class A Shares, Other Real Goods Securities or property, or other forms of payment, or any combination thereof, as determined by the Committee.

  • Performance Award means any right granted under Section 6(d) of the Plan.

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

  • Performance Share Unit or “PSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 6;

  • Performance Cash Award means an award of cash granted pursuant to the terms and conditions of Section 6(c)(ii).

  • Performance Letter of Credit means any standby Letter of Credit which represents an irrevocable obligation to the beneficiary on the part of the Issuing Bank to make payment on account of any default by the account party in the performance of a nonfinancial or commercial obligation.

  • Performance Share means an Award denominated in Shares which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine pursuant to Section 10.

  • Performance Share Award means an Award entitling the recipient to acquire shares of Stock upon the attainment of specified Performance Goals.

  • Long-Term Performance Award means an award under Section 10 below. A Long-Term Performance Award shall permit the recipient to receive a cash or stock bonus (as determined by the Committee) upon satisfaction of such performance factors as are set out in the recipient's individual grant. Long-Term Performance Awards will be based upon the achievement of Company, Subsidiary and/or individual performance factors or upon such other criteria as the Committee may deem appropriate.

  • Performance Unit Award means an Award granted under Article XI of the Plan under which, upon the satisfaction of predetermined Performance Goals, a cash payment shall be made to the Holder, based on the number of Units awarded to the Holder.

  • Performance Stock means a Target Number of Shares granted pursuant to Section 10(a) of the Plan.

  • Performance Stock Unit means a right granted to a Participant pursuant to Section 8.2, to receive Stock, the payment of which is contingent upon achieving certain Performance Goals or other performance-based targets established by the Committee.

  • Performance Date means December 31, 2022. If the Locality, in consultation with the Authority and VEDP, deems that good faith and reasonable efforts have been made and are being made by the Company to achieve the Targets, the Locality may, prior to the then-current Performance Date, request an extension of the Performance Date by up to 15 months. Any extension of the Performance Date shall require the prior approval of the Board of Directors of VEDP (the “Board”). If the Performance Date is extended, the Locality shall send written notice of the extension to the Authority, the Company and VEDP and the date to which the Performance Date has been extended shall be the “Performance Date” for the purposes of this Agreement.

  • Performance-Based Cash Award means a cash Award under Article XI of this Plan that is payable or otherwise based on the attainment of certain pre-established performance goals during a Performance Period.

  • Incentive Award means the right to receive a cash payment to the extent Performance Goals are achieved, and shall include “Annual Incentive Awards” as described in Section 10 and “Long-Term Incentive Awards” as described in Section 11.

  • Performance Share Units means Performance Share Units granted to an Eligible Individual under Section 9.1(b).

  • Performance-Based Award means any Restricted Stock Award, Restricted Stock Units, Performance Share Award or Cash-Based Award granted to a Covered Employee that is intended to qualify as “performance-based compensation” under Section 162(m) of the Code and the regulations promulgated thereunder.

  • Qualified Performance-Based Award means an Award intended to qualify for the Section 162(m) Exemption, as provided in Section 11.

  • Performance-Based Restricted Stock means Shares issued or transferred to an Eligible Individual under Section 9.2.

  • Performance Units means an Award which may be earned in whole or in part upon attainment of performance criteria established by the Administrator and which may be settled for cash, Shares or other securities or a combination of cash, Shares or other securities as established by the Administrator.

  • Performance Unit means an Award which may be earned in whole or in part upon attainment of performance goals or other vesting criteria as the Administrator may determine and which may be settled for cash, Shares or other securities or a combination of the foregoing pursuant to Section 10.

  • Performance Stock Award means a Stock Award granted under the terms and conditions of Section 6(c)(i).

  • Cash-Based Award means an Award entitling the recipient to receive a cash-denominated payment.

  • Bonus Award means a bonus award made pursuant to Section 9.

  • Performance audit means an objective and systematic assessment of a state agency or agencies or any of their programs, functions, or activities by the state auditor or designee in order to help improve agency efficiency, effectiveness, and accountability. Performance audits include economy and efficiency audits and program audits.