Standby Purchase Commitment Fee definition

Standby Purchase Commitment Fee. The periodic amount due Xxxxxx Mac from the Seller for this Commitment. Such amount with respect to any Qualified Loan included in the Portfolio shall be paid in monthly payments in arrears in an amount equal to 1/12th of the applicable fee, multiplied by the unpaid principal balance of such Qualified Loan, as reported monthly by the Seller in accordance with Section 4.04. The applicable fee for any particular Qualified Loan shall be as agreed upon between the parties and set forth in a Qualified Loan Schedule signed by both parties. Solely for purposes of this definition of Standby Purchase Commitment Fee, the term “unpaid principal balance of such Qualified Loan” shall mean the unpaid principal balance of such Qualified Loan, calculated as of the first day of the month prior to the month in which the Standby Purchase Commitment Fee is to be paid.
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Standby Purchase Commitment Fee. The periodic amount due Xxxxxx Mac from the Seller for this Commitment. Such amount with respect to any Qualified Loan included in the Portfolio prior to November 1, 2006 shall be paid in monthly payments in arrears in an amount equal to 1/12th of [material omitted pursuant to a request for confidential treatment and filed separately with the SEC], times the unpaid principal balance of such Qualified Loan, as reported monthly by the Seller in accordance with Section 4.04. Effective November 1, 2006, for any Qualified Loan accepted in the Portfolio by Xxxxxx Mac based on the Seller’s classification of the Qualified Loan under the 14-point Uniform Classification System (UCS), such amount with respect to the Qualified Loan shall be paid in monthly payments in arrears in an amount equal to 1/12th of the applicable fee based on the fee guidelines below multiplied by the unpaid principal balance of such Qualified Loan, as reported monthly by the Seller in accordance with Section 4.04. [material omitted pursuant to a request for confidential treatment and filed separately with the SEC] The applicable fee for any particular Qualified Loan shall be determined as of the date the Qualified Loan Schedule is delivered to Xxxxxx Mac which lists the particular loan. Notwithstanding the fee guidelines set forth above, the Standby Purchase Commitment Fee with respect to any Qualified Loan identified in Pool TM1032 or any additional Pool added to the Portfolio under this Commitment shall be as agreed upon between the parties and reflected in a Qualified Loan Schedule signed by the parties. The applicable Standby Purchase Commitment Fee will be increased by 5 basis points for so long as the aggregate unpaid principal balance of the Qualified Loans in the Portfolio is less than $100 million. Once the aggregate unpaid principal balance of the Qualified Loans in the Portfolio equals or exceeds $100 million, this 5 basis point increase shall no longer be applicable, even if the aggregate unpaid principal balance subsequently decreases to below $100 million. Solely for purposes of this definition of Standby Purchase Commitment Fee, the term “unpaid principal balance of such Qualified Loan” shall mean the unpaid principal balance of such Qualified Loan less any outstanding borrower stock that may be retired and applied to the Qualified Loan, to the extent such outstanding borrower stock is in excess of the minimum amount of such stock required by federal law or regulation, calcula...
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Standby Purchase Commitment Fee. The periodic amount due Xxxxxx Mac from the Seller for this Commitment. [REDACTED PORTION FILED SEPARATELY WITH SEC PURSUANT TO CONFIDENTIAL TREATMENT REQUEST] Solely for purposes of this definition of Standby Purchase Commitment Fee, the term “unpaid principal balance of such Qualified Loan” shall mean the unpaid principal balance of such Qualified Loan less any outstanding borrower stock that may be retired and applied to the Qualified Loan, to the extent such outstanding borrower stock is in excess of the minimum amount of such stock required by federal law or regulation, calculated as of the first day of the month prior to the month in which the Standby Purchase Commitment Fee is to be paid.
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Examples of Standby Purchase Commitment Fee in a sentence

  • The Seller’s obligation to pay the Standby Purchase Commitment Fee shall begin in the month immediately following the Effective Date with respect to each Qualified Loan and end in the month immediately following the month in which the Commitment Term expires.

  • The Seller acknowledges that payment of the Standby Purchase Commitment Fee and submission of the monthly loan activity report are due on or before the 7th Business Day of each month, beginning the month after the month of the Effective Date.

  • With respect to each Qualified Loan listed on a Qualified Loan Schedule signed by both parties, the Seller shall pay to Xxxxxx Mac in immediately available funds, by 12:00 noon (eastern time), on the seventh Business Day of each month, an amount sufficient to pay the Standby Purchase Commitment Fee.

  • Failure to pay the Standby Purchase Commitment Fee in accordance with the terms of the Commitment requires interest to be paid on any overdue amount and constitutes an Event of default for which Xxxxxx Mac may terminate the Commitment.

  • With respect to each Qualified Loan, by the seventh calendar day of each month, beginning in July, 2003 (or the preceding Business Day if the seventh calendar day is not a Business Day) through and including the month in which the Commitment Term expires, the Seller shall pay to Xxxxxx Mac in immediately available funds, by 12:00 noon, Eastern time, on such seventh day, an amount sufficient to pay the Standby Purchase Commitment Fee.

  • With respect to each Qualified Loan, by the seventh calendar day of each month, beginning in September 2007 (or the preceding Business Day if the seventh calendar day is not a Business Day) through and including the month in which the Commitment Term expires, the Seller shall pay to Xxxxxx Mac in immediately available funds, by 12:00 noon, Eastern time, on such seventh day, an amount sufficient to pay the Standby Purchase Commitment Fee.

  • With respect to each Qualified Loan listed on a Qualified Loan Schedule signed by both parties, the Seller shall pay to Xxxxxx Mac in immediately available funds, by 12:00 noon (eastern time), on the seventh calendar day of each month (or the preceding Business Day if the seventh calendar day is not a Business Day), an amount sufficient to pay the Standby Purchase Commitment Fee.


More Definitions of Standby Purchase Commitment Fee

Standby Purchase Commitment Fee. The periodic amount due Xxxxxx Mac from the Seller for this Commitment. [material omitted pursuant to a request for confidential treatment and filed separately with the SEC].
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Standby Purchase Commitment Fee. The periodic amount due Xxxxxx Mac from the Seller for this Commitment. [material omitted pursuant to a request for confidential treatment and filed separately with the SEC]. Solely for purposes of this definition of Standby Purchase Commitment Fee, the term “unpaid principal balance of such Qualified Loan” shall mean the unpaid principal balance of such Qualified Loan less any outstanding borrower stock that may be retired and applied to the Qualified Loan, to the extent such outstanding borrower stock is in excess of the minimum amount of such stock required by federal law or regulation, calculated as of the first day of the month prior to the month in which the Standby Purchase Commitment Fee is to be paid.
Sample 1

Related to Standby Purchase Commitment Fee

  • Purchase Commitment means a written commitment, in form and substance satisfactory to Lender, issued in favor of Borrower by an Investor under which that Investor commits to purchase Mortgage Loans or Mortgage-backed Securities.

  • Commitment Fee has the meaning specified in Section 2.09(a).

  • Applicable Commitment Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Commitment Fee.”

  • Revolving Commitment Fee has the meaning specified in Section 2.09(a).

  • Commitment Amount means the aggregate amount of up to Ten Million Dollars ($10,000,000) which the Investor has agreed to provide to the Company in order to purchase the Company's Common Stock pursuant to the terms and conditions of this Agreement.

  • Unused Commitment Fee has the meaning specified in Section 2.12(a) (Fees).

  • Letter of Credit Commitment Amount means, on any date, a maximum amount of $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Revolving Credit Commitment Fee shall have the meaning assigned to such term in Section 2.05(a).

  • L/C Participation Fee shall have the meaning assigned to such term in Section 2.05(c).

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Commitment Date has the meaning specified in Section 2.18(b).

  • Commitment Fee Percentage means, with respect to the Revolving Loan Commitments at any time, the per annum percentage which is used to calculate Commitment Fees for such Revolving Loan Commitments determined pursuant to the Pricing Grid.

  • Applicable Letter of Credit Fee Rate shall mean the percentage rate per annum based on the Leverage Ratio then in effect according to the pricing grid on Schedule 1.1(A) below the heading “Letter of Credit Fee.” Applicable Margin shall mean, as applicable:

  • Revolving Commitment Amount means, as to any Lender, the Revolving Commitment amount (if any) set forth opposite such Lender’s name on Schedule 1.1 hereto (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the Revolving Commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement).

  • Applicable Commitment Fee Percentage means, as at any date of determination, the rate per annum then applicable in the determination of the amount payable under Section 2.15(C)(i) hereof determined in accordance with the provisions of Section 2.15(D)(ii) hereof.

  • Aggregate Revolving Commitment Amount means the aggregate principal amount of the Aggregate Revolving Commitments from time to time. On the Closing Date, the Aggregate Revolving Commitment Amount is $300,000,000.

  • Participation Fee means the amount payable by the Participant to the Council for the right to participate in the Hong Kong Pavilion at the Exhibition, as specified in Section I of the Application Form.

  • Term Loan Commitment Amount means, with respect to each Lender, the sum of such Lender’s Term Loan Tranche 1 Commitment Amount and Term Loan Tranche 2 Commitment Amount.

  • Swing Line Loan Commitment Amount means, on any date, $10,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Total Commitment Amount means, at any particular time, the aggregate of the Individual Commitments of all of the Lenders at such time.

  • Tranche B Term Loan Commitment means, with respect to each Lender, the commitment, if any, of such Lender to make a Tranche B Term Loan to the Borrower hereunder in a principal amount equal to the amount set forth on Schedule 1.01(b) (or in the case of any Continuing Tranche B Term Loan Lender, the amount of its Existing Tranche B Term Loan continued as a Tranche B Term Loans (as specified in its Term Loan Lender Addendum) pursuant to Section 2.01(b)(i).

  • Revolving Loan Commitment Termination Date means the earliest of

  • Ticking Fee has the meaning specified in Section 2.09(b).

  • Tranche C Term Loan Commitment means, with respect to each Tranche C Term Loan Lender, the commitment of such Lender to make Tranche C Term Loans under the Tranche C Term Loan Incremental Facility Agreement.

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

  • Placement Fee has the meaning given thereto in Section 2(a) hereof;