Reversionary Period means in respect of Fixed Rate Mortgages, LIBOR-Linked Mortgages or any Discretionary Further Advance, the applicable initial fixed rate period or, as the case may be, the LIBOR based initial margin period which applies until the rate of interest chargeable in relation thereto becomes: (a) the Standard Rate or (b) the reversionary rate of interest which the Borrower is required to pay at a variable margin over the three month London Interbank Offered Rate for sterling deposits determined quarterly.
Reversionary Period has the meaning given to it in the Mortgage Sale Agreement; "Secured Amounts" has the same meaning as in the Conditions;
Reversionary Period means in respect of Fixed Rate Mortgages or any Discretionary Further Advance, the applicable initial fixed rate period until the rate of interest chargeable in relation thereto becomes the Standard Rate.
Examples of Reversionary Period in a sentence
For greater certainty, during the Reversionary Period, all of the terms of the Head Lease shall continue to govern with respect to Unit 4.
Landlord hereby consents to such continued occupancy and possession of Unit 4 by Tenant during the Reversionary Period.
For greater certainty, during the Reversionary Period, all of the terms of the Head Lease shall continue to govern.
Each Administrator will, on behalf of the Issuer set, where relevant, the rates of interest applicable to the Mortgages, other than Fixed Rate Mortgages during the applicable initial fixed rate period (each such initial fixed rate period and including in the case of any Discretionary Further Advance, the "Reversionary Period") in accordance with the Administration Agreement.