Reserve Fee definition

Reserve Fee means the non-refundable fee of four percent (4%) of each Loan, or such other amount, if any, as the Authority shall determine in connection with each Series of Bonds used to finance Education Loans, paid by the Borrower to the Authority out of the proceeds of each such Loan at the time of disbursement thereof.
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Examples of Reserve Fee in a sentence

  • In the event any payment from a Customer is a partial payment of any given billed invoice by the Company, that payment shall be used first to cover the fixed and variable expenses, and then to cover the Capital Reserve Fee.

  • If the Replenishment Reserve Fee is not paid when due, CAWCD will be entitled to interest, costs and penalties as provided by law.

  • Reserve Fee: This is planned funding of capital replacement expenditures for replacement of large items, e.g. refrigerators, roof repairs and villa furnishings.

  • The Construction of the Works shall be strictly in accordance with these Working Drawings.(4) The Contractor shall finalise details of the proposed method of construction and submit such finalised details to the Engineer for review.

  • Then the affordability of this monthly amount, plus the amount of the Repair Reserve Fee, for the Homeowner has been analyzed and, if necessary, the Land Use has been reduced to an amount considered to be affordable for Homeowner.5.4 CLT MAY REDUCE OR SUSPEND THE LEASE FEE TO IMPROVE AFFORDABILITY: CLT may reduce or suspend the total amount of the Lease Fee for a period of time for the purpose of improving the affordability of the Homeowner’s monthly housing costs.

  • The non-refundable Reserve Fee will be paid by the Borrower from the proceeds of each Loan at the time of disbursement thereof.

  • The Reserve Fee shall be retained in the Loan Account held by the Trustee.

  • CAWCD shall levy the Replenishment Tax and any Replenishment Reserve Fee due against the Municipal Provider in accordance with Arizona Revised Statutes § 48-3781.

  • The Trustee shall, upon receipt of a signed Promissory Note and, if applicable, Education Loan Mortgage, and disbursement roster from the Servicer, and a signed requisition from the Authority, (a) pay from the Loan Account, via such means as the Servicer shall direct, to the Servicer the amount of the Loan less the applicable Reserve Fee and (b) advise the Authority of the disbursement.

  • No. This is not a tax event because it is a change in the fee terms of the Refundable Reserve Fee Class.

Related to Reserve Fee

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Reserve Funds means, collectively, the Tax and Insurance Escrow Fund, the Replacement Reserve Fund, the Required Repair Fund, the Initial Renovation Reserve Fund, the Interest Reserve Fund, the General Reserve Fund, any funds on deposit in the Construction Loan Reserve Account, any Shortfall Funds and any other escrow fund established pursuant to the Loan Documents.

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Debt Service Reserve Fund means the fund by that name established pursuant to the Second Resolution.

  • Default Interest Rate is two percent above the base lending rate of Barclays Bank PLC, as varied from time to time;

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.