Prepaid Loan definition

Prepaid Loan. Any Loan (other than a Charged-Off Loan) that was terminated or has been prepaid in full or in part prior to its scheduled maturity date.
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Prepaid Loan has the meaning assigned in Section 2.06.
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Prepaid Loan. Other than Commercial Lines of Credit which may be prepaid but for which the commitment to make advances thereunder is still in effect, any Loan that has terminated or been prepaid in full prior to its scheduled maturity date (including because of a Casualty Loss), other than a Defaulted Loan.
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Examples of Prepaid Loan in a sentence

  • The Servicer shall have the right, but not the obligation, to purchase, or substitute for, any Prepaid Loan, Charged-Off Loan, Delinquent Loan or a Loan that has a material covenant default, subject to the limitations set forth in this Section 2.07.

  • At the same time as (i) any Loan in the Asset Pool expires by its terms and all amounts in respect thereof have been paid by the related Obligor and deposited in the Collection Account or (ii) any Loan becomes a Prepaid Loan and all amounts in respect thereof have been paid by the related Obligor and deposited in the Collection Account, the Deal Agent as agent for the Purchasers will, to the extent requested by the Servicer, release its interest in such Loan and Loan Documents.

  • Upon satisfaction of such conditions, the Trustee shall add such Loan to be substituted to the List of Loans and shall reassign the Prepaid Loan to the Originator as described in Section 3.08.

  • The “Prepayment Fee” shall mean (a) if the Prepayment occurs during the first (1st) Loan Year, an amount equal to one percent (1%) of the Prepaid Loan Amount, and (b) if the Prepayment occurs during the second (2nd) Loan Year, an amount equal to one-half of one percent (0.50%) of the Prepaid Loan Amount.

  • The Servicer may not voluntarily permit an Asset to become a Prepaid Loan, unless such prepayment will not result in the Collection Account receiving an amount (the "Prepayment Amount") less than the sum of (a) the Outstanding Loan Balance on the date of such payment, (b) any outstanding Servicer Advances thereon and (c) any accrued and unpaid interest.

  • Borrower agrees to pay Lender a per annum fee in advance equal to five percent (5%) of the amount of the then aggregate Deferred Charges on each Prepaid Loan (each, a “Deferral Fee”).

  • All accrued and unpaid interest and all other charges payable in connection with each such prepayment of a Prepaid Loan, including but not limited to any prepayment premiums.

  • The Borrower may prepay one or more Loans on any single Business Day; provided that the aggregate Prepaid Loan Amount at Maturity of Loans being repaid on any single Business Day is not less than $25,000,000 or increments of $1,000,000 in excess thereof.

  • Upon satisfaction of such conditions, the Trustee shall add to the List of Loans such Loan to be substituted and delete from the List of Loans the Prepaid Loan.

  • A release price (the "Release Price") equal to one hundred fifteen percent (115%) of the outstanding principal balance of the Indebtedness of the Requesting Borrower, to be applied by the Lender as a prepayment of one or more of the Loans (each, a "Prepaid Loan") other than the Loan relating to the Released Property, in such amount and allocation as the Lender may determine in its discretion.


More Definitions of Prepaid Loan

Prepaid Loan. As defined in SECTION 4.15 hereof.
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Related to Prepaid Loan

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

  • 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”.

  • Bid Rate Loan means a loan made by a Lender under Section 2.2.

  • Bid Loan has the meaning specified in Section 2.03(a).

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • CD Loan means a Committed Loan to be made by a Bank as a CD Loan in accordance with the applicable Notice of Committed Borrowing.

  • Term SOFR Rate Loan means a Loan that bears interest based on the Term SOFR Rate.

  • 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.

  • LIBOR Loan means a Loan or any portion thereof bearing interest by reference to the LIBOR Rate.

  • Related Loan means any loan or extension of credit to an Obligor of a Shared-Loss Loan held by the Assuming Institution at any time on or prior to the end of the Final Shared-Loss Month.

  • Eurodollar Revolving Loan means any Revolving Loan bearing interest at a rate determined by reference to the Adjusted LIBOR Rate in accordance with the provisions of Article II.

  • 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.

  • Loan Advance The meaning specified in Section 2.2(a).

  • Absolute Rate Loan means a Bid Rate Loan, the interest rate on which is determined on the basis of an Absolute Rate pursuant to an Absolute Rate Auction.

  • Liquidated Loan A Mortgage Loan with respect to which the related Mortgaged Property has been acquired, liquidated or foreclosed and with respect to which the applicable Servicer determines that all Liquidation Proceeds which it expects to recover have been recovered.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Index Rate Loan means a Loan or portion thereof bearing interest by reference to the Index Rate.

  • 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.

  • PMI Advance As defined in the related Servicing Agreement, if applicable.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Eurodollar Loan means any Loan bearing interest at a rate determined by reference to the Eurodollar Rate.

  • LIBOR Rate Loan means each portion of a Loan that bears interest at a rate determined by reference to the LIBOR Rate.

  • Fixed Rate Loans means Euro-Dollar Loans or Money Market Loans (excluding Money Market LIBOR Loans bearing interest at the Base Rate pursuant to Section 8.01(a)) or any combination of the foregoing.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Revolving Advance has the meaning given in Section 2.1.

  • B/A Equivalent Loan has the meaning assigned to such term in Section 2.06(j).