Restricted loan definition
Restricted loan means a supervised loan made by a restricted lender pursuant to and in compliance with Chapter 29, Title 34 (The South Carolina Consumer Finance Act).
Restricted loan means any Loan that may not be sold or pledged pursuant to a Purchase Agreement because (i) the servicing agreement under which such Loan is serviced provides that the servicing rights created thereunder are not transferable in the manner required by this Agreement or (ii) such Loan is subject to a financing arrangement the program documents of which contain restrictions on transferability of such Loan, such Loan is included in a term securitization or in the Loan Purchase Commitment Program or Loan Participation Purchase Program; provided, that, a Seller may deem a Loan not a Restricted Loan by delivering notice to the Conduit Administrator; provided further that, if a Loan is designated as a Restricted Loan, it shall not be eligible to be included in a Relevant Loan Portfolio thereafter, unless (a) the Seller notifies the Conduit Administrator that such Loan is no longer a Restricted Loan within 90 days of such designation or (b) such Loan was a Restricted Loan pursuant to clause (ii) above and the Seller has subsequently obtained the ability to acquire, and includes in its next Relevant Loan Portfolio, all of the Loans in such financing or securitization.
Restricted loan. A Mortgage Loan which as of the Cut-Off Date was 60 days or more contractually delinquent (and, if there was a Bankruptcy Plan or Forbearance Plan in place as of the Cut-Off Date, 60 days or more delinquent under such Plan as of such date), unless it was Cash Flow Performing. All of the Restricted Loans are listed in Exhibit J hereto.
More Definitions of Restricted loan
Restricted loan means a loan excluding for this purpose a deposit made with any authorised institution within the meaning of the Banking Ordinance, to an employer or its affiliate.
Restricted loan means any Student Loan that may not be [sold or] pledged pursuant to the Funding Note Purchase Agreement [and [the] [any] Student Loan Purchase Agreement] because (i) the servicing agreement under which such Student Loan is serviced provides that the servicing rights created therein are not transferable in the manner required by the Department Put Agreement or (ii) such Student Loan is subject to a financing arrangement the program documents of which contain restrictions on the transferability of such Student Loan, such Student Loan is included in a term securitization or in the Loan Purchase Commitment Program or Loan Participation Purchase Program; provided, that, the Funding Note Issuer [or [the] [any] Seller] may deem a Student Loan not a Restricted Loan by delivering a notice in the form of Exhibit Y attached hereto to the Conduit Administrator; provided further that, if a Student Loan is designated as a Restricted Loan, it shall not be eligible to be included in a Relevant Loan Portfolio thereafter, unless (a) the Funding Note Issuer [or [the] [relevant] Seller] notifies the Conduit Administrator pursuant to the notice in the form of Exhibit Y attached hereto that such Student Loan is no longer a Restricted Loan within ninety (90) days of such designation or (b) such Student Loan was a Restricted Loan pursuant to clause (ii) above and the Funding Note Issuer [or the [relevant] Seller] has subsequently obtained the ability to acquire, and includes in its next Relevant Loan Portfolio, all of the Student Loans in such financing or securitization.
Restricted loan means any Student Loan that may not be sold or pledged pursuant to the Funding Note Purchase Agreement and the Student Loan Purchase Agreement because (i) the servicing agreement under which such Student Loan is serviced provides that the servicing rights created therein are not transferable in the manner required by the Department Put Agreement or (ii) such Student Loan is subject to a financing arrangement the program documents of which contain restrictions on the transferability of such Student Loan, such Student Loan is included in a term securitization or in the Loan Purchase Commitment Program or Loan Participation Purchase Program; provided, that, the Funding Note Issuer or the Seller may deem a Student Loan not a Restricted Loan by delivering notice to the Conduit Administrator and the Department; provided further that, if a Student Loan is designated as a Restricted Loan, it shall not be eligible to be included in a Relevant Loan Portfolio thereafter, unless (a) the Funding Note Issuer or the Seller notifies the Conduit Administrator, with a copy to the Department, that such Student Loan is no longer a Restricted Loan within ninety (90) days of such designation or (b) such Student Loan was a Restricted Loan pursuant to clause (ii) above and the Funding Note Issuer or the Seller has subsequently obtained the ability to acquire, and includes in its next Relevant Loan Portfolio, all of the Student Loans in such financing or securitization.