Examples of Subsidised Loan in a sentence
The Bank agrees that it shall apply the Lending Criteria in its consideration and assessment of an application for a Subsidised Loan or an application to increase the amount of the Subsidised Loan and that the Lending Criteria shall be the sole basis for refusal in whole or in part by the Bank of any such application.
The Bank further agrees that both the Subsidised Loan and the Further Housing Loan shall be secured under the same first Mortgage.
The Commonwealth shall continue to pay Subsidy to the Bank on each Rest Day thereafter until such time as payments of Subsidy stop or are cancelled or suspended in accordance with the Act, or the Subsidised Loan is repaid in full, whichever is the earlier.
Such fees shall be calculated as though the Entitled Person has applied for a single Housing Loan of an amount equal to the aggregate amount of the Subsidised Loan and the Further Housing Loan.
This provision shall not be construed as obliging the Bank to pay Stamp Duty on any loan instrument, mortgage or other security document relating to a Subsidised Loan.
Upon receipt of the above documents, the Bank shall consider the application for the Subsidised Loan.
Subsidy stops being payable pursuant to the Act, the loan shall thereafter not be a Subsidised Loan and the Bank shall thereafter not be bound by the Act or this Agreement in respect of the loan and may deal with the borrower as the Bank deals with its other Housing Loan customers.
Bank not to discriminate Where a person applies to the Bank for a Subsidised Loan and at the same or a subsequent time also applies for a Further Housing Loan, the Bank agrees that it will treat such applications in its ordinary and usual course of business and will treat the person no differently than it would its other Housing Loan customers.
For the purposes of this clause the Subsidised Loan Account shall not be taken to be closed until all agreements made between the Bank and the Subsidised Borrower and which related to the Subsidised Loan, including increases in the amount of the Subsidised Loan, have been discharged.
In the event that the Bank agrees to provide a Subsidised Loan to an Entitled Person who is unable to meet the required deposit/equity ratio, the Bank shall have the right to enter into a suitable Mortgage insurance arrangement in respect of the Subsidised Loan and require the Entitled Person to pay the premium in respect thereof.