Principal Advance and “Principal Advances” each has the meaning assigned to that term in Section 2.5 hereof.
Principal Advance means each Advance, other than an Interest Advance, Swap Advance or an Intercompany Interest Advance;
Principal Advance shall have the meaning given that term in the applicable Credit Enhancement Instrument.
Examples of Principal Advance in a sentence
The Loan shall bear interest on the outstanding principal amount from the date of each Principal Advance until such amounts are repaid to Lender in full, at the rate of 10% per annum.
Any prepayment in part under this Section 2.7(a) shall be applied by the Bank against each such Principal Advance or Term Loan, as the case may be, in the order in which each such Principal Advance or Term Loan, as the case may be, was made.
Any prepayment in part under this Section 2.7(c) shall be applied against each such Principal Advance or Term Loan, as the case may be, in the order in which each such Principal Advance or Term Loan, as the case may be, was made.
The amount of the Letter of Credit and the amounts available to be drawn thereunder by the Issuing and Paying Agent by any Drawing shall not be increased with respect to the conversion of a Principal Advance to a Term Loan.
The Authority may, if not satisfied that the conditions described herein have been met, return the Principal Advance Certificate with a statement of the reasons why the Principal Advance Certificate is not acceptable and requesting such further documentation or clarification as the Authority may reasonably require.
More Definitions of Principal Advance
Principal Advance means the increase in the principal amount of the Bonds as a result of each installment purchase of the Bonds pursuant to the Bond Indenture and the Purchase Contract.
Principal Advance means forwith respect to any Mortgage Loan that is a HomeSafe Flex or a HomeSafe Select, any Scheduled Payment or Unscheduled Payment advanced to any Mortgagor under the terms of the related Mortgage Loan Documents and added to the Principal Balance for anyof such Mortgage Loan. “Principal Balance” shall mean with respect to any Mortgage Loan, and for any date of determination, the initial Principal Balance of such Mortgage Loan increased by payments to, or on behalf of, a Mortgagor, and other Additional Amounts, reduced by all amounts previously received or collected in respect of principal on such Mortgage Loan subsequent to the date the Buyer acquired such Mortgage Loan. “Principal Draw” shall have the meaning set forth in the Recitals hereto. “Principal Draw Advance” shall have the meaning set forth in the Recitals hereto. “Principal Limit” shall mean with respect to each Mortgage Loan, the maximum amount available to the Mortgagor as principal under the terms of the related Mortgage Note. “Program Documents” shall mean this Agreement, the Pricing Letter, the Account Agreement, the Custodial Agreement (solely as defined in clauses (i) and (ii) of such definition), the Electronic Tracking Agreement, the Pledge Agreement, a Servicer Notice, if any, a Subservicer Notice, if any, an Irrevocable Instruction Letter, if any, and the Power of Attorney. “Prohibited Person” shall have the meaning set forth in Section 11(x) of the Agreement. “Property” shall mean any right or interest in or to property of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible. “Proprietary Loan” shall mean a private label home equity conversion Mortgage Loan that (a) was originated by Seller or an Approved Originator, (b) has not been previously sold to any agency or other investor and (c) is underwritten in accordance with the Approved Underwriting Guidelines. “Purchase Agreement” shall have the meaning set forth in the Recitals hereto. “Purchase Date” shall mean, individually and collectively, as the context may require (a) with respect to any Purchased Mortgage Loan, the date on which such Purchased Mortgage Loans (or in the case of Select Advance Loans, the participation interests therein) areLoan is transferred by Seller to Buyer or its designee, (b) with respect to the Series 2023-GOT Trust Certificate, the date on which such Series 2023-GOT Trust Certificate is transferred by Seller to Buyer or its designee, and (c) with respect to any Unde...
Principal Advance means for any Mortgage Loan any Scheduled Payment or Unscheduled Payment advanced to any Mortgagor under the terms of the related Mortgage Loan Documents and added to the Principal Balance for any Mortgage Loan. “Principal Balance” shall mean with respect to any Mortgage Loan, and for any date of determination, the initial Principal Balance of such Mortgage Loan increased by payments to, or on behalf of, a Mortgagor, and other Additional Amounts, reduced by all amounts previously received or collected in respect of principal on such Mortgage Loan subsequent to the date the Buyer acquired such Mortgage Loan. “Principal Limit” shall mean with respect to each Mortgage Loan, the maximum amount available to the Mortgagor as principal under the terms of the related Mortgage Note. “Program Documents” shall mean this Agreement, the Pricing Letter, the Account Agreement, the Custodial Agreement, the Electronic Tracking Agreement, a Servicer Notice, if any, a Subservicer Notice, if any, an Irrevocable Instruction Letter, if any, and the Power of Attorney.
Principal Advance means for any Mortgage Loan any Scheduled Payment or Unscheduled Payment advanced to any Mortgagor under the terms of the related Mortgage Loan Documents and added to the Principal Balance for any Mortgage Loan. “Principal Balance” shall mean with respect to any Mortgage Loan, and for any date of determination, the initial Principal Balance of such Mortgage Loan increased by payments to, or on behalf of, a Mortgagor, and other Additional Amounts, reduced by all amounts previously received or collected in respect of principal on such Mortgage Loan subsequent to the date the Buyer acquired such Mortgage Loan. “Principal Limit” shall mean with respect to each Mortgage Loan, the maximum amount available to the Mortgagor as principal under the terms of the related Mortgage Note. “Program Documents” shall mean this Agreement, the Pricing Letter, the Account Agreement, the Custodial Agreement, the Electronic Tracking Agreement, a Servicer Notice, if any, a Subservicer Notice, if any, an Irrevocable Instruction Letter, if any, and the Power of Attorney. “Prohibited Person” shall have the meaning set forth in Section 11(x) of the Agreement. “Property” shall mean any right or interest in or to property of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible. “Proprietary Loan” shall mean a private label home equity conversion Mortgage Loan that (a) was originated by Seller or an Approved Originator, (b) has not been previously sold to any agency or other investor and (c) is underwritten in accordance with the Approved Underwriting Guidelines. “Purchase Date” shall mean the date on which Purchased Mortgage Loans are transferred by Seller to Buyer or its designee.
Principal Advance means such sum as requested, in writing, by Borrower to Lender. In the event of Default, Lender shall not make any additional Principal Advances.
Principal Advance means for any Mortgage Loan any Scheduled Payment or Unscheduled Payment advanced to any Mortgagor under the terms of the related Mortgage Loan Documents and added to the Principal Balance for any Mortgage Loan.