Savings Mortgage Loan definition

Savings Mortgage Loan means a Mortgage Loan or part thereof in respect of which the Borrower is not required to repay principal until maturity, but instead pays on a monthly basis a premium to the Insurance Savings Participant under a Savings Insurance Policy.
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Savings Mortgage Loan means a Mortgage Loan or part thereof in respect of which the Borrower is not required to repay principal until maturity, but instead pays on a monthly basis a premium to the Insurance Savings Participant under a Savings Insurance Policy. Savings Mortgage Receivable means a Mortgage Receivable resulting from a Savings Mortgage Loan.
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Savings Mortgage Loan. ] means a mortgage loan or part thereof in respect of which the Borrower is not required to repay principal until maturity, but instead pays on a monthly basis a premium to the relevant Savings Insurance Company;
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Examples of Savings Mortgage Loan in a sentence

  • The Mortgage Loan to which a Mortgage Receivable relates is either an Interest-only Mortgage Loan, an Annuity Mortgage Loan, a Linear Mortgage Loan, an Investment Mortgage Loan, a Life Mortgage Loan, a Savings Mortgage Loan, a Bank Savings Mortgage Loan or a Revolving Credit Mortgage Loan, or any combination of the foregoing.

  • Under or pursuant to the Mortgage Receivables Purchase Agreement, the Seller warrants and represents in relation to each Mortgage Receivable which is related to an Interest-only Mortgage Loan, an Annuity Mortgage Loan, a Linear Mortgage Loan, a Bank Savings Mortgage Loan or a Revolving Credit Mortgage Loan, that the relevant Mortgage Receivable does not relate to any investment product or Mixed Insurance Policy.

  • Each Bank Savings Mortgage Loan has the benefit of the balances standing to the credit of the relevant Bank Savings Account, which is held with the Bank Savings Participant.

  • Under a Savings Mortgage Loan no principal is paid by the Borrower prior to the maturity of the loan.

  • The proceeds of the Savings Insurance Policy will be used to redeem the Savings Mortgage Loan.

  • The Savings Premium is calculated in such a manner that, on an annuity basis, the proceeds of the Savings Insurance Policy due by the Insurance Company to the relevant Borrower will be equal to the amount due by the Borrower to the Seller at maturity of the Savings Mortgage Loan.

  • Under the Savings Mortgage Loan no principal is paid by the Borrower prior to maturity of the Mortgage Loan.

  • If a client terminates his or her retainer with a lawyer – which usually happens because he or she cannot afford to continue with 29 The Advocates Society: Institute for Civility and Professionalism, Best Practices.

  • Such excess amount could include any future entitlement of a Borrower in the Transferor's bankruptcy to a bonus amount under a Bank Savings Mortgage Loan which has not accrued.

  • Consent of the Savings Insurance CompanyThe Savings Insurance Company has, pursuant to each mortgage deed relating to a Savings Mortgage Loan, granted its consent ("goedkeuring") to (i) the sale and assignment of the Savings Mortgage Receivables by SNS Bank to the Issuer in accordance with the Mortgage Receivables Purchase Agreement and (ii) the pledge thereof by the Issuer to the Security Trustee in accordance with the Security Trustee Receivables Pledge Agreement.