Simultaneous loan definition

Simultaneous loan means another covered transaction or home equity line of credit subject to § 1026.40 that will be secured by the same dwelling and made to the same consumer at or before consummation of the covered transaction or, if to be made after con- summation, will cover closing costs of the first covered transaction.
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Simultaneous loan meansanother covered transaction or home equity line of credit subject to § 226.5b that will be secured by the same dwelling and made to the same consumer at or before consummation of the covered transaction.
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Simultaneous loan means another covered transaction or home equity line of credit thAt is subject to 12 code of federal regulations section 1026.40 and that will be secured by the same dwelling and made to the same consumer at or before consummation of the covered transaction or, if to be made after consummation, will cover closing costs of the first covered transaction.
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Examples of Simultaneous loan in a sentence

  • Simultaneous loan includes any covered transaction or home equity line of credit (HELOC) that will be made to the same consumer at or before consummation and secured by the same dwelling that secures the covered transaction.

  • The owner’s policy was issued with a face amount of $223,000.00 and the Simultaneous loan policy with a face amount of$348,000.00.

  • Thus, the term of the loan remaining as of the date the loan is recast is 25 years (300 months).43(b)(12) Simultaneous loan.

Related to Simultaneous loan

  • U.S. Loan means an extension of credit by a Lender to the U.S. Borrower under Article 2 in the form of a U.S. Committed Loan, a U.S. Bid Loan or a U.S. Swing Line Loan.

  • CDOR Rate Loan means a Loan denominated in Canadian Dollars the rate of interest applicable to which is based on the CDOR Rate.

  • Term SOFR Rate Loan means a Loan made hereunder with respect to which the interest rate is calculated by reference to Term SOFR (other than a Loan for which clause (c) of the definition of Base Rate is used to determine Base Rate).

  • Term Loan as defined in Section 2.1.

  • U.S. Loans means, individually and collectively as the context may require, the U.S. Revolving Loans, the U.S. Swingline Loans, the U.S. Overadvances, and the U.S. Protective Advances.

  • Eurodollar Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Eurocurrency Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Initial Loan is defined in Section 2.1.

  • Revolving Loan has the meaning specified in Section 2.01(a).

  • ABR Loan means any Loan bearing interest at a rate determined by reference to the Alternate Base Rate in accordance with the provisions of Article II.

  • Initial Revolving Loan means a Revolving Facility Loan made (i) pursuant to the Revolving Facility Commitments in effect on the Closing Date (as the same may be amended from time to time in accordance with this Agreement) or (ii) pursuant to any Incremental Revolving Facility Commitment on the same terms as the Revolving Facility Loans referred to in clause (i) of this definition.

  • Fixed Rate Loan means a Competitive Loan bearing interest at a Fixed Rate.

  • ABR Term Loan means any Term Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • ABR Revolving Loan means any Revolving Facility Loan bearing interest at a rate determined by reference to the ABR in accordance with the provisions of Article II.

  • Eurodollar Loan means a Loan bearing interest based at a rate determined by reference to the Eurodollar Rate.

  • Eurodollar Rate Loans means any Loans or portion thereof on which interest is payable based on the Adjusted Eurodollar Rate in accordance with the terms hereof.

  • Base Rate Loan means a Loan that bears interest based on the Base Rate.

  • Term SOFR Loan means a Loan that bears interest at a rate based on Term SOFR.

  • Eurocurrency Term Loan means any Term Loan bearing interest at a rate determined by reference to the Adjusted LIBO Rate in accordance with the provisions of Article II.

  • Eurocurrency Rate Advance means a Revolving Credit Advance or a Term Loan Advance denominated in Dollars or in an Agreed Currency which bears interest as provided in Section 2.07(b) or a Local Currency Advance which bears interest as provided in Section 2.07(b) and the Local Currency Addendum.

  • VA Loan means a Mortgage Loan which is subject of a VA Loan Guaranty Agreement as evidenced by a loan guaranty certificate, or a Mortgage Loan which is a vendor loan sold by the VA.

  • Eurodollar Rate Borrowing means a Borrowing comprised of Eurodollar Rate Loans.

  • U.S. Revolving Loan means Loans made by a Lender in respect of its U.S. Revolving Commitment to the U.S. Borrower pursuant to Section 2.02(a) and/or Section 2.24.

  • Dollar Loan means a Loan denominated in Dollars.

  • SLS Loan means a Loan which was made pursuant to the Supplemental Loans for Students Program established under Section 428A of the Higher Education Act (or predecessor provisions), including Loans referred to as ALAS Loans or Student PLUS Loans.