Rate lock agreement definition

Rate lock agreement means an agreement with a borrower made by a mortgage broker, loan originator, or lender in which the mortgage broker, loan originator, or lender agrees that, for a period of time, a specific interest rate or other financing terms will be the rate or terms at which it will make a loan available to that borrower.
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Rate lock agreement means that certain Extended Rate Lock Agreement-Application Stage dated April 23, 2007 between Borrower and Lender, as amended by that certain First Amendment to Extended Rate Lock Agreement-Application Stage dated as of the date hereof.
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Rate lock agreement the agreement entered into between Borrower and/or Guarantor, and Lender (or another party) dated on or before the date hereof and guarantied by Guarantor under the Payment Guaranty, pursuant to which Lender has "locked" the Applicable Pre-Conversion Treasury Rate that will apply as of the Conversion Date with respect to all or part of the Principal.
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Examples of Rate lock agreement in a sentence

  • If we have agreed to hold an interest rate for you under a Rate Lock Agreement, then you must use your loan by the date set out in that Rate Lock Agreement.

  • Conditions for refund of the lock-in fee: I/We understand and agree to the terms contained in this Interest Rate Lock Agreement.

  • Streamlined Rate Lock Agreement (Preliminary Underwriting Completed Prior to Rate Lock) (6430).

  • If you enter into a Rate Lock Agreement with us, you will pay the lesser of the locked in rate and the fixed interest rate for the applicable term on the Settlement Date provided you drawdown the Loan within 90 days of the effective date set out in the Rate Lock Agreement.

  • I/We understand and agree to the terms contained in this Interest Rate Lock Agreement.

  • You may ask us to lock in a fixed interest rate at any time before you drawdown your Loan by entering into a Rate Lock Agreement with us and paying the Rate Lock Fee.

  • If we have agreed to hold an Interest Rate for you under a Rate Lock Agreement, then you must use your loan by the date set out in that Rate Lock Agreement.

  • The District understands that, if for any reason other than cancellation by the Purchaser pursuant to Section 5(a)(3) hereof, on the Settlement Date (as defined herein) the Lease-Purchase Agreement is not issued on the specific terms set forth in this Agreement, the District shall pay to the Purchaser, within five (5) business days of the Purchaser’s written request, the Reinvestment Premium as provided in the Rate Lock Agreement.

  • A copy of the WA Rate Lock Agreement is attached for reference and is also posted on the Homebridge website at xxx.xxxxxxxxxxxxxxxxxxx.xxx on the Broker Resources page, under Required Disclosures by State, Washington.

  • Homebridge will provide the Agreement to the borrower(s) for all loans locked after submission • The Rate Lock Agreement will be sent to the borrower(s) for electronic signature using BlitzDocs.


More Definitions of Rate lock agreement

Rate lock agreement means a Forward Rate Lock Agreement anticipated to be executed in the form annexed as Exhibit B to that certain term sheet dated December 19, 2006 between Capmark and FC Member.”
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Rate lock agreement means an agreement entered into between you and us before you drawdown your Loan which sets your guaranteed maximum Fixed Rate for the specified fixed rate period of this Loan.
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Rate lock agreement means that certain Rate Lock Agreement dated as of December 15, 2004 by and between SCL and LMIC, as amended.
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Rate lock agreement means that certain interest rate lock agreement dated December 23, 2010 between Borrower and Lender, as amended by that certain amendment to interest rate lock agreement dated of even date herewith.
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Rate lock agreement means that certain letter agreement dated May 3, 2010 by and among Lender, Borrower, and IDRETI, as Hedge Guarantor and Rebalancing Guarantor (as such terms are defined therein).
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Rate lock agreement shall have the meaning set forth in Section 2.02(a) of this Agreement.
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Related to Rate lock agreement

  • Master Letter of Credit Agreement means, at any time, with respect to the issuance of Letters of Credit, a master letter of credit agreement or reimbursement agreement in the form, if any, being used by the Issuing Lender at such time.

  • Funding Loan Agreement means the Funding Loan Agreement, of even date herewith, among the Governmental Lender, the Fiscal Agent and the Funding Lender, as it may from time to time be supplemented, modified or amended by one or more amendments or other instruments supplemental thereto entered into pursuant to the applicable provisions thereof.

  • Letter of Acceptance means the letter of formal acceptance, signed by the contractor. Procuring Entity, including any annexed memoranda comprising agreements between and signed by both Parties.

  • Existing Letter of Credit means each letter of credit previously issued for the account of the Borrower under the Existing Credit Agreement that (a) is outstanding on the Effective Date and (b) is listed on Schedule 1.02.