Variable Rate Mortgage definition

Variable Rate Mortgage means a mortgage which is referred to as a “Variable Rate Mortgage” in the Loan Agreement.
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Variable Rate Mortgage means a mortgage on which interest is payable at a floating rate of interest based on the Prime Rate plus the number of percentage points per annum, if any, as specified in the Charge.
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Variable Rate Mortgage means the portion of a Mortgage securing Variable Rate Debt.
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Examples of Variable Rate Mortgage in a sentence

  • The equivalent rate table is for disclosure purposes of the Interest Act (Canada) and does not affect the calculation of interest under a Variable Rate Mortgage.

  • The following table sets out interest rates calculated half-yearly, not in advance which are equivalent to interest rates calculated monthly, not in advance for a Variable Rate Mortgage.

  • If this Mortgage is a Variable Rate Mortgage, the rate of interest chargeable on the Outstanding Principal Amount and all other monies payable under this Mortgage shall be the Interest Rate, calculated monthly, not in advance, as well after as before maturity, default and judgment until payment in full.

  • If you the holder want to assign this Variable Rate Mortgage Note, fill in the form below and have your signature guaranteed: I or we assign and transfer this Variable Rate Mortgage Note to: (Print or Type name, address and zip code and social security or tax ID number of assignee) and irrevocably appoint ________________________, agent to transfer this Variable Rate Mortgage Note on the books of the Company.

  • Dated: _____________________________ Signed: _____________________________ (Sign exactly as name appears on the other side of this Note) Signature Guarantee CANAL CAPITAL CORPORATION Amended and Restated Variable Rate Mortgage Note Due May 15, 2001.

  • The following table sets out interest rates calculated half- yearly, not in advance which are equivalent to interest rates calculated monthly, not in advance for a Variable Rate Mortgage.

  • The interest rates applicable for an Interest Only Mortgage Loan will be the same as for the Standard Variable Rate Mortgage Loan product.

  • The equivalent rate table is for disclosure purposes of the Interest Act (Canada) and does notaffect the calculation of interest under a Variable Rate Mortgage.

  • If this Mortgage is a Variable Rate Mortgage, the rate of interest chargeable on the Outstanding Principal Amount and all other monies payable under this Mortgage shall be the Interest Rate, calculated monthly, not in advance, as well after as before maturity, default and judgment until payment in full.The Interest Rate will vary automatically, without notice to the Borrower, each time there is a change in the Prime Rate.

  • With respect to each Variable Rate Mortgage Loan, the Seller shall adjust the Mortgage Interest Rate on the related Interest Rate Adjustment Date and shall adjust the Monthly Payment accordingly in compliance with the requirements of applicable law and the related Mortgage and Mortgage Note.


More Definitions of Variable Rate Mortgage

Variable Rate Mortgage means a Charge which is stated to be a Variable Rate Mortgage in Box 10.
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Variable Rate Mortgage means a Mortgage with a Variable Rate Interest Rate during its entire term.
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Variable Rate Mortgage means a Charge which is stated to be a Variable Rate Mortgage in the Computer Field entitled “Additional Provisions”.
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Variable Rate Mortgage means a mortgage which is referred toas a “Variable Rate Mortgage” in the Loan Agreement.
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Related to Variable Rate Mortgage

  • Adjustable Rate Mortgage Loan A Mortgage Loan serviced pursuant to this Agreement under which the Mortgage Interest Rate is adjusted from time to time in accordance with the terms and provisions of the related Mortgage Note.

  • Variable Rate means a per annum rate of interest, equal to LIBOR plus 1.68%, as determined on the LIBOR Determination Date preceding each Interest Payment Date, reset quarterly, commencing upon expiration of the Fixed Rate Period.

  • Variable Rate Bonds means Current Interest Bonds, which may be either Serial Bonds or Term Bonds, issued with a variable, adjustable, convertible or other similar interest rate which is not fixed in percentage for the entire term thereof at the date of issue, which Bonds may also be Option Bonds. Section 102.Rules of Construction. Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders. Unless the context shall otherwise indicate, the words "Bond," "Escrow Agent," "Owner," "person," "Paying Agent," and "Bond Registrar" shall include the plural as well as the singular number and the word "person" shall mean any individual, corporation partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. All references to applicable provisions of Law shall be deemed to include any and all amendments thereto.

  • Variable Rate Indebtedness means any portion of indebtedness or other payment obligations, the interest rate on which is not established at the time of incurrence and has not at some subsequent date been established at a single numerical rate for the entire term thereof.

  • Fixed Rate Mortgage Loan A fixed rate mortgage loan purchased pursuant to this Agreement.

  • Variable Rate Transaction shall have the meaning ascribed to such term in Section 4.12(b).

  • Adjustable Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • Maximum Applicable Rate with respect to APS, has the meaning set forth in Section 11.10(a)(vii) of these Bylaws.

  • Base Rate Term Loan means a Term Loan that is a Base Rate Loan.

  • Fixed Rate Term means a period commencing on a Business Day and continuing for 1, 2, 3 or 6 months, as designated by Borrower, during which all or a portion of the outstanding principal balance of this Note bears interest determined in relation to LIBOR; provided however, that no Fixed Rate Term may be selected for a principal amount less than One Hundred Thousand Dollars ($100,000.00); and provided further, that no Fixed Rate Term shall extend beyond the scheduled maturity date hereof. If any Fixed Rate Term would end on a day which is not a Business Day, then such Fixed Rate Term shall be extended to the next succeeding Business Day.

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Interest Rate Option means any LIBOR Rate Option or Base Rate Option.

  • Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.

  • Periodic Mortgage Rate Cap With respect to an Adjustable Rate Mortgage Loan, the periodic limit on each Mortgage Rate adjustment as set forth in the related Mortgage Note.

  • Interest Rate Cap means a Cap.

  • Applicable Interest Rate Margin means (a) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (b) as to any LIBO Rate Advance, the applicable rate per annum set forth below under the caption “LIBO Rate Spread”, determined by reference to the higher of (i) the rating of Mondelēz’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Standard & Poor’s for Mondelēz) and (ii) the rating of Mondelēz’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Moody’s for Mondelēz), in each case on such date: A or higher by Standard & Poor’s A2 or higher by Moody’s 0.000 % 0.835 % A- by Standard & Poor’s A3 by Moody’s 0.000 % 0.940 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.045 % 1.045 % BBB by Standard & Poor’s Baa2 by Moody’s 0.150 % 1.150 % Lower than BBB by Standard & Poor’s Lower than Baa2 by Moody’s 0.250 % 1.250 % provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Interest Rate Margin shall be determined by reference to the then available rating; (y) no rating is available from either of Standard & Poor’s or Moody’s, the Applicable Interest Rate Margin shall be determined by reference to the rating of any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders and (z) no rating is available from any of Standard & Poor’s, Moody’s or any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders, the Applicable Interest Rate Margin shall be 0.250% as to any Base Rate Advance and 1.250% as to any LIBO Rate Advance.

  • Periodic Interest Rate Cap As to each adjustable rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note.

  • Variable Interest Rate means any interest rate that does not qualify as a fixed credit interest rate;

  • Comparable Rates means rates payable by the Comparison Group for Comparable Services so as to be fair comparable rate with the Framework Prices;

  • Mortgage Rate Caps With respect to an Adjustable Rate Mortgage Loan, the Periodic Mortgage Rate Cap, the Maximum Mortgage Rate, and the Minimum Mortgage Rate for such Mortgage Loan.

  • Floating Rate Margin means 7.50 per cent. per annum.

  • Interest Rate Cap Agreement means, as applicable, an Interest Rate Cap Agreement (together with the confirmation and schedules relating thereto) in form and substance reasonably satisfactory to Lender between Borrower and an Acceptable Counterparty or a Replacement Interest Rate Cap Agreement.

  • Interest Rate or Currency Protection Agreement of any Person means any forward contract, futures contract, swap, option or other financial agreement or arrangement (including, without limitation, caps, floors, collars and similar agreements) relating to, or the value of which is dependent upon, interest rates or currency exchange rates or indices.

  • Fixed Rate Note means a Note on which interest is calculated at a fixed rate payable in arrear on a fixed date or fixed dates in each year and on redemption or on such other dates as may be agreed between the Issuer and the relevant Dealer(s) (as indicated in the applicable Final Terms);

  • Applicable Rating means the rating assigned to each Class of the Series 2016-T1 Notes by the Note Rating Agency, upon the issuance of such Class as set forth below:

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of (i) (a) the prime rate as reported in The Wall Street Journal, plus (b) 5.90%, and (ii) 9.15%.