Variable Advance definition

Variable Advance means a loan made by Lender to Borrower under the Variable Facility Commitment.
View Source
Variable Advance means a SARM Variable Advance.
View Source
Variable Advance means any Variable DMBS Advance and any Variable Structured ARM Advance.
View Source

Examples of Variable Advance in a sentence

  • The original stated principal amount of a Variable Advance shall be the sum of the Price and the Discount.

  • The Advance Request shall indicate whether the Request is for a Fixed Advance, a Variable Advance or both.

  • The Price and Discount of each Variable Advance shall be determined in accordance with the procedures set out in Section 4.01.

  • The original stated principal amount of a Variable Advance shall be the sum of the Price of the Variable Advance and the Discount of the Variable Advance.

  • The first installment shall be payable on or prior to the Closing Date for the Variable Advance and shall apply to the first full calendar month of the MBS backed by the Variable Advance.

  • Upon the funding of the Variable Advance, the Lender shall note the date of funding in the appropriate space at the foot of the Advance Confirmation Instrument and deliver a copy of the completed Advance Confirmation Instrument to the Borrower.

  • Each installment of the Variable Facility Fee shall be in an amount equal to the product of multiplying (i) the Variable Facility Fee, by (ii) the amount of the Variable Advance, by (iii) 1/12.

  • The proceeds of the Variable Advance made available by the Lender to the Borrower will equal the Price of the Variable Advance.

  • In addition to paying the Discount and the partial month interest, if any, the Borrower shall pay monthly installments of the Variable Facility Fee to the Lender on account of each Variable Advance over the whole number of calendar months the MBS backed by the Variable Advance is to run from the MBS Issue Date to the maturity date of the MBS.

  • The Borrower shall pay to the Lender, in advance of the Lender making a Variable Advance requested by the Borrower, the entire Discount for the Variable Advance.


More Definitions of Variable Advance

Variable Advance means any variable rate execution approved by Lender evidenced by a Variable Note.
View Source
Variable Advance means any Advance for which Borrower selects, in the applicable Request, the Variable Rate as the applicable interest rate.
View Source

Related to Variable Advance

  • Eligible advance means an advance made before August 19, 1993.

  • Fixed Rate Advance means an Advance which bears interest at a Fixed Rate.

  • Periodic Advance The aggregate of the advances required to be made by a Servicer on any Distribution Date pursuant to its Servicing Agreement or by the Master Servicer or the Trustee hereunder, the amount of any such advances being equal to the total of all Monthly Payments (adjusted, in each case (i) in respect of interest, to the applicable Mortgage Interest Rate less the applicable Servicing Fee in the case of Periodic Advances made by a Servicer and to the applicable Net Mortgage Interest Rate in the case of Periodic Advances made by the Master Servicer or Trustee and (ii) by the amount of any related Debt Service Reductions or reductions in the amount of interest collectable from the Mortgagor pursuant to the Soldiers' and Sailors' Civil Relief Act of 1940, as amended, or similar legislation or regulations then in effect) on the Mortgage Loans, that (x) were delinquent as of the close of business on the related Determination Date, (y) were not the subject of a previous Periodic Advance by such Servicer or of a Periodic Advance by the Master Servicer or the Trustee, as the case may be and (z) have not been determined by the Master Servicer, such Servicer or Trustee to be Nonrecoverable Advances.

  • Nonrecoverable Advance Any portion of an Advance previously made or proposed to be made by the Master Servicer that, in the good faith judgment of the Master Servicer, will not be ultimately recoverable by the Master Servicer from the related Mortgagor, related Liquidation Proceeds or otherwise.

  • SOFR Advance means an Advance that bears interest at a rate based on Term SOFR.