Redraw definition

Redraw means the Seller's re-advance to a Debtor of repayments of principal made by that Debtor on its Housing Loan in accordance with the terms of the relevant Loan Agreement.
Sample 1Sample 2
Redraw means in respect of a Mortgage, a Payment Holiday or a redraw by the relevant Borrower of a portion of the principal of his/her Mortgage if and to the extent that such Borrower has previously made Prepayments on his/her Mortgage in excess of the scheduled principal repayments and has not previously redrawn the whole of such excess payments and provided that the amount of such Redraw is limited to ensure that the outstanding balance of the Mortgage after such Redraw is no greater than the Borrower Loan Limit.
Sample 1
Redraw. Any amounts repaid or prepaid may not be redrawn. Existing Facilities Commercial Credit Card Facility Borrower: SCFIS Limited Purpose: Business Credit Cards Facility Limit: $30,000.00 Card Type: ANZ Business Preferred MasterCard Condition Precedent: You are only entitled to use the facility if we agree with the terms of your commercial credit card application and if you execute all documents required by us. Issue of the credit card is subject to the Bank’s standard terms and conditions applicable to the card.
Sample 1

Examples of Redraw in a sentence

  • Redraw or provide new drawings as required for a complete as-built set of drawings.

  • Page 1Important information about fixed rate loans (continued)Only applicable for existing loans:If you are converting an existing loan to a fixed rate loan:(a) Redraw will not be available, so you will need to transfer the funds before you fix the loan.

  • The Issuer may apply the proceeds of the issue of any Redraw Notes after the Closing Date towards funding Redraws as described in Section 5.8 (“Redraws and Further Advances”).

  • Re-draw would be carried out by following the procedure for Draw outlined in Para 9 above.

  • Redraw Reserve Account The Manager must establish the Redraw Reserve Account on or before the first day on which Redraw Notes are issued.

  • It is not an event of default if the Trustee does not have funds available to repay the full amount of the principal outstanding under the Redraw Facility on a Distribution Date.

  • The balance of the Redraw Reserve Account will be applied by the Issuer, at the direction of the Manager, from time to time as follows: (a) if there is insufficient Available Principal to fund Redraws that the Manager would otherwise consent to in accordance with Section 11.2 (“Distributions during a Collection Period”), to fund such Redraws; and (b) if a Redraw Trigger occurs, by allocating on the next Determination Date the balance of the Redraw Reserve Account to Total Available Principal.

  • Drawings under the Redraw Facility will be subject to certain conditions precedent.

  • The term of the Redraw Facility is 364 days and may be renewed at the option of the Redraw Facility Provider if it receives a request for extension from the Manager 60 days prior to the scheduled termination of the Redraw Facility.

  • As noted in Section 10.2, qualifying borrowers may apply to redraw amounts by which the actual outstanding principal balance under a Mortgage Loan is less than the scheduled principal balance (otherwise known as a Loan Redraw Facility).


More Definitions of Redraw

Redraw. ’ means ¡n respect of a Mortgage, a Payment HoI¡day or a redraw by the reIevant Borrower of a port¡on of the pr¡nc¡paI of h¡s/her Mortgage ¡f and to the extent that such Borrower has prev¡ousIy made Prepayments on h¡s/her Mortgage ¡n excess of the scheduIed pr¡nc¡paI repayments and has not prev¡ousIy redrawn the whoIe of such excess payments and prov¡ded that the amounts of such Redraw ¡s I¡m¡ted to ensure that the outstand¡ng baIance of the Mortgage after such Redraw ¡s no greater than the Borrower Loan L¡m¡t;
Sample 1
Redraw has the meaning provided in Clause 4.3(a) (Redraw).
Sample 1
Redraw means Redraw Limited is a wholly owned subsidiary of Virizion LLC
Sample 1

Related to Redraw

  • Facility A means the term loan facility made available under this Agreement as described in paragraph (a) of Clause 2.1 (The Facilities).

  • Loan Repayments means the sum of (i) Trust Bond Loan Repayments, (ii) the Administrative Fee and (iii) any late charges incurred under the provisions of a Loan Agreement.

  • Loan repayment means the cancellation and repayment of loans

  • Facility A Loan means a loan made or to be made under Facility A or the principal amount outstanding for the time being of that loan.

  • Facility C means the term loan facility made available under this Agreement as described in paragraph (c) of Clause 2.1 (Facilities).

  • Facility B means the term loan facility made available under this Agreement as described in paragraph (b) of Clause 2.1 (The Facilities).

  • Waivable Mandatory Prepayment as defined in Section 2.15(c).

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Mandatory or “(M)” shall mean the Vendor must comply with the requirement, and the Response will be evaluated on a pass/fail basis.

  • Loan Repayment Date means the date a Loan is scheduled to be repaid, as confirmed pursuant to Clause 5.3(c) of this Agreement, which shall in no event be later than the earlier of (i) the date falling six (6) Months from the relevant Utilisation Date and (ii) the Facility Repayment Date.

  • Mandatory Prepayments means the prepayments of the Loans required by Section 2.13 hereof.

  • Equipment Advance is defined in Section 2.1.1.

  • Drawdown means a drawdown of an Advance;

  • Scheduled Repayment shall have the meaning provided in Section 4.02(a).

  • Mandatory Prepayment is defined in Section 2.4(a).

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

  • Term Advance has the meaning specified in Section 2.01(a).

  • Term Loan Repayment Date shall have the meaning assigned to such term in Section 2.09.

  • Bullet means a geometric symbol that precedes each statement in a list of statements. For purposes of this sec- tion, the bullet style is limited to solid squares or solid circles, in the format set forth in paragraph (d)(4) of this sec- tion.

  • Construction Loan Agreement means the Loan Agreement to be entered into by and between the Construction Lender and the Partnership, as amended.

  • Total Loans at any time, the aggregate principal amount of the Loans of the Lenders outstanding at such time (after converting the outstanding principal amount of any Loans denominated in the Optional Currency into the Dollar Equivalent thereof at such time).

  • Management Advances means loans or advances made to, or Guarantees with respect to loans or advances made to, directors, officers, employees or consultants of any Parent, the Company or any Restricted Subsidiary:

  • Impacted Loans has the meaning specified in Section 3.03.

  • Interest Drawing has the meaning assigned to such term in Section 3.6(a).

  • Drawdown Period means the period commencing on the Execution Date and ending on the earlier of (i) 30 April 2012 and (ii) any date on which the Commitment is finally cancelled or fully drawn under the terms of this Agreement;

  • Hardened Password means a string of at least eight characters containing at least three of the following four character classes: Uppercase alphabetic, lowercase alphabetic, numeral, and special characters such as an asterisk, ampersand, or exclamation point.