Terminated Loan definition

Terminated Loan means, with respect to any Renewal, the Loan that is refinanced and written down to zero in connection with such Renewal.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Terminated Loan has the meaning given in each Interest Rate Swap.

Terminated Loan means each Eligible Mortgage Loan which is either (i) sold or Securitized or (ii) prepaid in full.

Examples of Terminated Loan in a sentence

Each Replacement Loan shall be subject to the same terms as the corresponding Terminated Loan, other than with respect to the commencement date and the identity of the Loaned Securities.
The Replacement Loan shall commence on the date on which the parties agree which Securities shall be the subject of the Replacement Loan and shall be scheduled to terminate on the scheduled Termination Date of the Terminated Loan.
In connection with any Renewal that constitutes a Renewal Loan Replacement, such marking of the electronic records shall include recordation of the loan number for the Terminated Loan subject to such Renewal in the Renewal File for the Renewal Loan.
Upon the Renewal of any Loan, the related Terminated Loan will be deemed to have been paid in full (and the principal balance thereof will be written down to zero).
Borrower and Lender agree that, except as provided in Section 5 of this Annex, if the parties enter into a Replacement Loan, the Collateral for the related Terminated Loan need not be returned to Borrower and shall instead serve as Collateral for such Replacement Loan.

More Definitions of Terminated Loan

Terminated Loan. Each Eligible Loan which is (i) sold or Securitized, (ii) prepaid in full or (iii) repurchased by the Seller.

Terminated Loan means any Loan: (i) which is at any time in default for 245 days or longer from the first defaulted instalment and is cancelled or terminated early by the Seller; or (ii) that is cancelled or terminated early by the Seller, provided that such Loan has been in default on at least 2 instalments, and the Management Company had been informed thereof through the means of communication agreed by the parties.

Terminated Loan. ▇▇▇▇ ▇ligible Loan which is (1) sold or Securitized or (2) prepaid in full.

Terminated Loan means any Mortgage Loan owned by the Issuer which is (i) sold by it to a Mortgage Loan Buyer (other than a sale, or a Mortgage Loan subject to sale, to the Seller or Servicer pursuant to Section 3.3, 6.2 or 7.1 of the Mortgage Loan Purchase and Servicing Agreement) or (ii) prepaid in full.

Terminated Loan has the meaning set forth in the Mortgage Loan Purchase and Servicing Agreement.

Terminated Loan has the meaning set forth in the section entitled “Interim Payment Dates.”