Subsequent Loan definition

Subsequent Loan means each Loan made following the Initial Loan.

Subsequent Loan. A Loan sold by the Depositor to the Trust Fund during the Pre-Funding Period pursuant to Section 2.6, such Loan being identified on the Loan Schedule attached to a Subsequent Transfer Instrument and assigned to the Trust Fund.

Subsequent Loan means a Loan sold by the Seller to the Trust pursuant to Section 2.03, such Loan being identified as such in the Subsequent Transfer Instrument.

Examples of Subsequent Loan in a sentence

• The related Mortgage File for each Subsequent Loan shall be delivered to the Trustee (or the applicable Custodian on its behalf) at least three (3) Business Days prior to the related Subsequent Transfer Date.

• On each Subsequent Transfer Date, the Originator will have possession of each original Subsequent Loan being transferred to the Trust on that Subsequent Transfer Date and the related Loan File.

• Said instructions shall include the Borrower’s Name; Title/Escrow # and/or Loan # ; the person/entity to receive the Subsequent Loan Disbursement (“Receiving Party”); the Receiving Party’s full account name; Receiving Party’s account number at the receiving bank (“Receiving Bank”); Receiving Bank’s (ABA) routing number; city and state of the Receiving Bank; and the amount of the Subsequent Loan Disbursement (not to exceed the Maximum Subsequent Loan Disbursement Amount set forth above).

• The Administrative Agent is hereby authorized to disburse the proceeds of any Subsequent Loan Disbursement requested from an Authorized Representative in accordance with the terms of the Credit Agreement by deposit into the deposit account specified in the deposit instructions set forth below under Item 4.

• Once advanced, each Subsequent Loan shall be aggregated with all prior Subsequent Loans and all such term loans shall be referred to as Committed Loans.

More Definitions of Subsequent Loan

Subsequent Loan. Each Home Loan sold to the Grantor Trustee for inclusion pursuant to Section 2.07 of the Grantor Trust Agreement and the related Subsequent Transfer Agreement, which Home Loan shall be listed on the related Subsequent Loan Schedule.

Subsequent Loan. Each Home Loan sold to the Trust for inclusion pursuant to Section 2.06 hereof and the related Subsequent Transfer Agreement, which Home Loan shall be listed on the related Subsequent Loan Schedule.

Subsequent Loan has the meaning set forth in Section 2.7(b).

Subsequent Loan means an Adjustable Rate Loan, a Fixed Rate Group I Loan --------------- or a Fixed Rate Group II Loan sold by the Seller to the Trust pursuant to Section 2.03, such Loan being identified as such in the related Subsequent Transfer Instrument.

Subsequent Loan means a Group I Loan or a Group II Loan sold by the --------------- Seller to the Trust pursuant to Section 2.03, such Loan being identified as such in the related Subsequent Transfer Instrument.

Subsequent Loan means each Loan made following the Initial Loan. "Subsequent Receivable" means each Receivable that becomes a part of the Collateral on a Funding Date other than the Funding Date relating to the Initial Loan. "Subsidiary" means, with respect to a Person, any entity with respect to which more than 50% of the outstanding voting securities shall at any time be owned or controlled, directly or indirectly, by such Person and/or one or more of its Subsidiaries, or any similar business organization which is so owned or controlled. "Successor Servicer" has the meaning given to such term in Section 7.14(b). "Supplemental Loan Amount" means, as of any Funding Date, the amount by which the portion of the Loans Outstanding funded by a Lender Group, after giving effect to the requested Loan on such Funding Date, exceeds the greater of (i) its Mandatory Commitment and (ii) the highest amount of the Loans Outstanding funded by such Lender Group on any prior date. "Supplemental Structuring Fee" means the fee payable by the Borrower on the related Funding Date in an amount equal to the product of (i) the Supplemental Structuring Fee Rate and (ii) the Supplemental Loan Amount. "Supplemental Structuring Fee Rate" has the meaning given to such term in the Fee Letter. "Take-out" means any transaction pursuant to which all or a portion of the Receivables are released from the Lien granted to the Administrative Agent hereunder, a corresponding portion of the Loans Outstanding are repaid, and such Receivables are transferred by the Borrower to the Seller or another Person. "Take-out Date" means the date upon which a Take-out is consummated. "Take-out Date Certificate" means a certificate delivered by a Responsible Officer of the Servicer on the Take-out Date indicating that the requirements set forth in this Agreement for a Take-out has been satisfied. "Take-out Release" means a release executed pursuant to Section 2.12, substantially in the form of Exhibit E. "Tangible Net Worth" means at any time with respect to DFC, the difference of DFC's (i) assets minus (ii) liabilities minus (iii) without duplication, intangible assets, including goodwill,

Subsequent Loan. A Group I or Group II Loan, as applicable, sold by the Depositor to the Trust Fund during the Pre-Funding Period pursuant to Section 2.6, such Loan being identified on the related Loan Schedule attached to a Subsequent Transfer Instrument and assigned to the Trust Fund.