Financing conditions glossary
The brand new words and you may definitions one realize should provide effortless, informal meaning to have phrases and words you iliar for you. The concept of a phrase otherwise words is dependent upon where as well as how it is made use of, due to the fact related data files, together with finalized arrangements, buyers disclosures, inner System rules manuals and you will business incorporate, tend to control definition inside a particular framework. The new terminology and meanings one realize don’t have any joining impact for purposes of people deals or other transactions with our company. Your Campus Housing Applications Affiliate and/or Office off Loan Software professionals would-be happy to respond to any certain questions you could enjoys.
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Amortization: Financing repayments because of the equivalent periodic numbers calculated to repay new personal debt at the end of a fixed several months, and accrued interest toward outstanding equilibrium.
Amortized Financing: A loan to get paid back, by some typical installment payments of principal and you will interest, that will be equivalent otherwise nearly equivalent, without having any special balloon commission just before readiness.
Anniversary Time: The latest date where the brand new 12th payment is due. This occurs in the same calendar month and you can time every year thereafter toward one MOP Promissory Mention.
Office regarding Financing Applications
Applicant: An eligible Appointee appointed by the among the many 10 College or university campuses, Office of one’s Chairman or, LBNL while the permitted apply for that loan within the UC Financial Program.