Replaced Loan definition

Replaced Loan. Defined in Section 2.19(a).
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Replaced Loan has the meaning assigned in Section 3.06(b).
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Replaced Loan. Defined in Section 7.2(a).
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Examples of Replaced Loan in a sentence

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

  • Except as otherwise permitted herein in respect of any Optional Sale, Replaced Loan or Permitted Securitization Transaction, the Seller will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Lien on any Asset, whether now existing or hereafter transferred hereunder, or any interest therein, and the Seller will not sell, pledge, assign or suffer to exist any Lien (except for Permitted Liens) on its interest in the Assets.

  • Except as otherwise permitted herein and in respect of any Discretionary Sale or Replaced Loan, the Borrower will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Lien on any Collateral, whether now existing or hereafter transferred hereunder, or any interest therein, and the Borrower will not sell, pledge, assign or suffer to exist any Lien (except for Permitted Liens) on its interest in the Collateral.

  • If any Transferred Loan is replaced by one or more Substitute Loans pursuant to Clause 6.1.1, such Substitute Loans shall be denominated in the same Currency as the Replaced Loan.

  • The proceeds of the Advances shall be available (and the Borrower agrees that it shall use such proceeds) to support the obligations of the Borrower in respect of commercial paper issued by the Borrower and/or for other general corporate purposes of the Borrower and its Subsidiaries, including, but not limited to, the payment in full on the Effective Date of all amounts due under the Replaced Loan Agreement.

  • There has been deposited in the Certificate Account the amounts listed on the schedule attached hereto as the amount by which the Scheduled Principal Balance of each Replaced Loan exceeds the Scheduled Principal Balance of each Loan being substituted therefor.] J-2-1 IN WITNESS WHEREOF, I have affixed hereunto my signature this _____ day of _______________, 1999.

  • Initial Servicer, at its option, may substitute a Replaced Loan that is or is reasonably expected to become Defaulted Loans with one or more Substitute Loans so long as such substitution satisfies the conditions set forth in Section 2.19(a) and such substitution, when taken together with all substitutions previously made pursuant to this Section 2.19(b) and all repurchases made pursuant to Section 2.19(c), satisfies the conditions applicable thereto set forth in Section 2.19(d).

  • The Borrowing Base shall be reduced by the Outstanding Loan Balance of each such Replaced Loan or Warranty Loan, as the case may be, and, if applicable, increased by the Outstanding Loan Balance of each Substitute Loan.

  • There has been deposited in the Certificate Account the amounts listed on the schedule attached hereto as the amount by which the Scheduled Principal Balance of each Replaced Loan exceeds the Scheduled Principal Balance of each Loan being substituted therefor.] M-2-1 IN WITNESS WHEREOF, I have affixed hereunto my signature this ____ day of ___________________.

  • Upon confirmation of the deposit of the outstanding principal balance and accrued interest of such Mortgage Loan into the Collection Account or the delivery by Seller of a Substitute Mortgage Loan (the date of such confirmation or delivery, the “Retransfer Date”) for each Mortgage Loan or Replaced Loan, pursuant to Section Error! Reference source not found.


More Definitions of Replaced Loan

Replaced Loan shall have the meaning provided in Section 6.01.
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Replaced Loan has the meaning specified in Section 6.2(b)(i).
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Replaced Loan has the meaning assigned to that term in Section 2.07(c).
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Replaced Loan. As defined in Section 2.9. ------------- Reporting Date: The date which is two Business Days after the end of the Fixed -------------- Period.
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Replaced Loan has the meaning specified therefor in Section 2.19(a)(i) of this Agreement.
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Replaced Loan shall have the meaning set forth in Section 2.8 hereof.
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Related to Replaced Loan

  • Replaced Lender shall have the meaning provided in Section 2.13.

  • Replacement Loans has the meaning specified in Section 10.01.

  • Refinanced Loans has the meaning specified in Section 10.01.

  • Substitute Mortgage Loan A Mortgage Loan substituted by the Seller for a Deleted Mortgage Loan which must, on the date of such substitution, as confirmed in a Request for Release, substantially in the form of Exhibit L, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not more than 10% less than the Stated Principal Balance of the Deleted Mortgage Loan; (ii) have an Adjusted Net Mortgage Rate not lower than the Adjusted Net Mortgage Rate of the Deleted Mortgage Loan, provided that the Master Servicing Fee for the Substitute Mortgage Loan shall be equal to or greater than that of the Deleted Mortgage Loan; (iii) have a maximum mortgage rate not more than 1% per annum higher or lower than the maximum mortgage rate of the Deleted Mortgage Loan; (iv) have a minimum mortgage rate specified in its related Mortgage Note not more than 1% per annum higher or lower than the minimum mortgage rate of the Deleted Mortgage Loan; (v) have the same mortgage index, reset period and periodic rate as the Deleted Mortgage Loan and a gross margin not more than 1% per annum higher or lower than that of the Deleted Mortgage Loan (vi) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (vii) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (viii) not be a Cooperative Loan unless the Deleted Mortgage Loan was a Cooperative Loan and (ix) comply with each representation and warranty set forth in Section 2.3 hereof.

  • Substitute Loan A mortgage loan substituted for a Deleted Loan pursuant to the terms of this Agreement which must, on the date of such substitution, (i) have an outstanding principal balance, after application of all scheduled payments of principal and interest due during or prior to the month of substitution, not in excess of the Scheduled Principal Balance of the Deleted Loan as of the Due Date in the calendar month during which the substitution occurs, (ii) have a Mortgage Interest Rate not less than (and not more than one percentage point in excess of) the Mortgage Interest Rate of the Deleted Loan, (iii) have a remaining term to maturity not greater than (and not more than one year less than) that of the Deleted Loan, (iv) have the same Due Date as the Due Date on the Deleted Loan, (v) have a Loan-to-Value Ratio as of the date of substitution equal to or lower than the Loan-to-Value Ratio of the Deleted Loan as of such date, (vi) have a risk grading at least equal to the risk grading assigned on the Deleted Loan, (vii) is a “qualified mortgage” as defined in the REMIC Provisions and (viii) conform to each representation and warranty set forth in Section 6 of the Mortgage Loan Purchase Agreement applicable to the Deleted Loan. In the event that one or more mortgage loans are substituted for one or more Deleted Loans, the amounts described in clause (i) hereof shall be determined on the basis of aggregate principal balances, the Mortgage Interest Rates described in clause (ii) hereof shall be determined on the basis of weighted average Mortgage Interest Rates, the terms described in clause (iii) hereof shall be determined on the basis of weighted average remaining term to maturity, the Loan-to-Value Ratios described in clause (v) hereof shall be satisfied as to each such Substitute Loan, the risk gradings described in clause (vi) hereof shall be satisfied as to each such Substitute Loan and, except to the extent otherwise provided in this sentence, the representations and warranties described in clauses (vii) and (viii) hereof must be satisfied as to each Substitute Loan or in the aggregate, as the case may be.

  • Extended Loans shall have the meaning assigned to such term in Section 2.21(a).

  • Replaced Term Loans has the meaning assigned to such term in Section 9.02(c).

  • Eligible Mortgage Loan means, on any date of determination, a Mortgage Loan: