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Relying on the reasoning in Till and Second Circuit precedent, the District Court held that the creditor is not entitled to be in the same position that it would have been in had it arranged a new loan on the effective date and the present value calculation should not include the profit component of an efficient market rate approach.
A new borrower is one who does not have any pre-existing loans on the effective date of the change.
Each year, under federal law, Congress sets the interest rate on federal student loans with an effective date of July 1.
The Councils members resigned en masse and, in response, the Bank postponed the effective date of the judicial reform loan by six monthshalting any disbursement of funds.
(C) Federal credit unions may continue to charge rates exceeding the established maximum rate only on existing loans or lines of credit made before the effective date of any lowering of the maximum rate.
The proposal must not fund deficit or emergency funding, debt reduction, loan repayment or retirement, or project costs incurred before the effective date of the grant.
The Direct Loan Revolving Fund, as such fund was continued under section 3723 of title 38, United States Code (as such section was in effect on the day before the effective date of this title [Nov. 11, 1998]).
The option provided under paragraph (1) shall not be available in the case of any loan or loan advance, or portion thereof, unless a written request to exercise such option is sent to the Secretary not later than 1 year after the effective date of regulations issued to carry out the Rural Electrification Loan Restructuring Act of 1993.
Just some fairly indecipherable legalese setting forth the effective date of an obscure tax provision related to "loans for qualified investments in therapeutic discovery projects in lieu of tax credits".
The effective date of the leave will be reported to the federal government, which will initiate loan repayment procedures.
Effective Date.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com