Examples of Substitute Loans in a sentence

Payments due with respect to Qualified Substitute Loans on or prior to the Calculation Date next preceding the date of substitution shall not be property of the Issuer, but, to the extent received by the Servicer, will be retained by the Servicer and remitted by the Servicer to the Seller on the next succeeding Payment Date.
In connection with the substitution of one or more Qualified Substitute Loans for one or more Defective Loans, the Servicer shall determine the Substitution Adjustment Amount.
Payments due and other amounts received with respect to the Qualified Substitute Loans after the Calculation Date next preceding the date of substitution shall be property of the Issuer.
The Servicer shall deliver a schedule of any Defective Loans so removed and Qualified Substitute Loans so substituted to the Trustee and such schedule shall be an amendment to the Loan Schedule.
Each Certificate represents a pro rata entitlement to receive any residual balance following payment of all senior items in the relevant Priority of Payments by way of deferred consideration for the purchase by the Issuer of the Completion Mortgage Pool, any Additional Loans and any Substitute Loans.

More Definitions of Substitute Loans

Substitute Loans means residential mortgage loans (a) with an aggregate value which is equal to or greater than the Repurchase Price; and (b) which KMC, acting as a Prudent Mortgage Lender, considers to have similar or better credit characteristics than the Loan(s) to be repurchased, together with its related Mortgages and Mortgage Rights, which are substituted into the Mortgage Pool by the Seller following a breach of Warranty;

Substitute Loans means any additional consumer mobile home purchase loans owned by seller as may be acceptable to purchaser, in its

Substitute Loans means with respect to the Loans, Cash Collateral Loans, DSRA LC Loans, Energy Hedge LC Loans and Project Agreement LC Loans as certified by any Lender to Borrower, a reasonable alternative basis for making available or, as the case may be, maintaining such Lender’s Proportionate Share of Loans, Cash Collateral Loans, DSRA LC Loans, Energy Hedge LC Loans or Project Agreement LC Loans, including alternative interest periods, alternative types of Loans, Cash Collateral Loans, DSRA LC Loans, Energy Hedge LC Loans or Project Agreement LC Loans, alternative currencies or alternative rates of interest, provided that the margin above the cost of funds to such Lender is equivalent to the margin otherwise payable to such Lender pursuant to the Financing Agreement.

Substitute Loans has the meaning defined in Section 2.6.

Substitute Loans is defined in Section 3.5.

Substitute Loans means, for purposes of this Agreement, the Substitute ----------------- Loans listed in the Subsequent List of Loans attached hereto as Exhibit A. ---------- "Subsequent Transfer Date" shall mean, with respect to the Substitute Loans ------------------------ transferred hereby,[ ]. ------------------