Residual debt definition

Residual debt means an amount due on a loan, evidence of which exists in a real estate loan agreement, note, bond, contract or similar written agreement, that a borrower is unable to pay out of the proceeds from a sale of the residential property that secures the loan.
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Residual debt means the sum of (i) the outstanding principal balances of any Warehouse Facility for which Residual Interests have been conveyed to Borrower, (ii) the outstanding principal balances of any other facility contemplated under Section 2.15(d) for which Residual Interests have been conveyed to Borrower, and (iii) the Outstanding Revolving Loan Amount.
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Residual debt the amount of any indebtedness of the Company or any Subsidiary owing to the Existing Lender or any Other Existing Lender and incurred in connection with the financing of any Residual.
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Examples of Residual debt in a sentence

  • Residual debt, for this purpose, will also include the portion of non-fund based facilities that may have devolved into fund based facilities after the date of implementation.

  • RESIDUAL DEBT FINANCE4.1 Definition of residual debt4.1.1 Residual debt is debt that:a.

  • A summary of the requirements for naturalization is available at http://www.immigrationforum.org/pubs/articles/naturalization2001.htm.

  • Residual debt: the principal of one (or more) loan(s) less the surrender or other value of life insurance(s) forming part of the accrual product.

  • Residual debt: the principal of one (or more) loan(s) less the surrender or other value of life insurance(s) forming part of the security and/or investment contract(s) and/or savings account(s) for home ownership.

  • The fair value of the Merseyside Residual debt is taken to be the same as the amount of principal outstanding.

  • Residual debt insurance Residual debt insurance (NHG – Nationale Hypotheek Garantie) creates a guarantee at inception of a mortgage loan.

  • For a real estate loan, the following types of insurances are recommended or even mandatory: RESIDUAL DEBT INSURANCE Residual debt insurance protects your family from financial worries in case of death since it covers the repayment of the outstanding balance of your housing loan.

  • Residual debt will also include the portion of non- fund based facilities that may have devolved into fund based facilities after the date of implementation.

  • If the debtor is a natural person, Section 290 (1) number 4 of the Insolvency Code shall apply with the proviso that the delay in opening insolvency proceedings between March 1, 2020 and September 30, 2020 is not followed by a refusal of Residual debt discharge can be supported.


More Definitions of Residual debt

Residual debt means an amount due on a loan, evidence of which exists in a real
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Residual debt. “Residual Interest”, and “Term Loan Commitment Termination Date” set forth in Section 1.01 of the Loan and Servicing Agreement are hereby amended and restated as follows:
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Related to Residual debt

  • Contribution Indebtedness means Indebtedness, Disqualified Stock or Preferred Stock of an Issuer or any Subsidiary Guarantor in an aggregate principal amount not greater than the aggregate amount of cash contributions (other than Excluded Contributions) made to the capital of such Issuer or such Guarantor after the Issue Date, provided that:

  • Consolidated Funded Indebtedness means, as of any date of determination with respect to the MLP and its Subsidiaries on a consolidated basis, without duplication, the sum of: (a) all obligations for borrowed money (including the Obligations) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments; (b) the maximum amount available to be drawn under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; (c) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business); (d) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by the MLP or a Subsidiary (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by the MLP or such Subsidiary or is limited in recourse; (e) all Attributable Indebtedness; (f) all obligations to purchase, redeem, retire, defease or otherwise make any payment prior to the Maturity Date in respect of any Equity Interests or any warrant, right or option to acquire such Equity Interest, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; (g) all Guarantees with respect to Indebtedness of the types specified in clauses (a) through (f) above of another Person; and (h) all Indebtedness of the types referred to in clauses (a) through (g) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which any Loan Party or any Subsidiary is a general partner or joint venturer, except to the extent that Indebtedness is expressly made non-recourse to such Person.