Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.
Maximum Interest Rate. With respect to any Distribution Date, an annual rate equal to: (i) in the case of the Class A1 and Class A2 Certificates, for each Distribution Date on or before the Distribution Date on which the aggregate Class Principal Amount of the Class A3, Class A4, Class A5, Class A6 and Class A7 Certificates have been reduced to zero, an annual rate that would equal the Pool 1 Net Funds Cap for such Distribution Date if the Pool 1 Net Funds Cap were computed by reference to the weighted average of the excess of the maximum “lifetime” Mortgage Rates specified in the related Mortgage Notes for the Pool 1 Mortgage Loans over the Aggregate Expense Rate; (ii) in the case of the Class A3, Class A4 and Class A5 Certificates, for each Distribution Date on or before the Distribution Date on which the aggregate Class Principal Amount of the Class A1, Class A2, Class A6 and Class A7 Certificates has been reduced to zero, an annual rate that would equal the Pool 2 Net Fund Cap for such Distribution Date if the Pool 2 Net Funds Cap were computed by reference to the weighted average of the excess of the maximum “lifetime” Mortgage Rates specified in the related Mortgage Notes for the Pool 2 Mortgage Loans over the Aggregate Expense Rate; (iii) in the case of the Class A6 and Class A7 Certificates for each Distribution Date on or before the Distribution Date on which the aggregate Class Principal Amount of the Class A1, Class A2, Class A3, Class A4 and Class A5 Certificates has been reduced to zero, an annual rate that would equal the Pool 3 Net Funds Cap for such Distribution Date if the Pool 3 Net Funds Cap were computed by reference to the weighted average of the excess of the maximum “lifetime” Mortgage Rates specified in the related Mortgage Notes for Pool 3 Mortgage Loans over the Aggregate Expense Rate; and (iv) in the case of (A) the Offered Subordinate Certificates, (B) the Class A1 and Class A2 Certificates, for each Distribution Date after the Distribution Date on which the aggregate Class Principal Amount of the Class A3, Class A4, Class A5, Class A6 and Class A7 Certificates has been reduced to zero, (C) the Class A3, Class A4 and Class A5 Certificates, for each Distribution Date after the Distribution Date on which the aggregate Class Principal Amount of the Class A1, Class A2, Class A6 and Class A7 Certificates has been reduced to zero and (D) the Class A6 and Class A7 Certificates, for each Distribution Date after the Distribution Date on which the aggregate Cla...
Maximum Interest Rate has the meaning specified in Section 311.
Examples of Maximum Interest Rate in a sentence
Subject to adjustment as set forth herein, each Note shall bear interest at a rate per annum equal to the lesser of (i) the applicable Maximum Interest Rate and (ii) the Adjusted Term SOFR Rate.
Neither this Governmental Note nor any of the other Financing Documents will be construed to create a contract for the use, forbearance, or detention of money requiring payment of interest at a rate greater than the rate of interest which results in the maximum amount of interest allowed by applicable law (the "Maximum Interest Rate").
More Definitions of Maximum Interest Rate
Maximum Interest Rate. The Pool 1 Maximum Interest Rate, the Pool 2 Maximum Interest Rate or the Subordinate Maximum Interest Rate, as applicable.
Maximum Interest Rate. With respect to the LIBOR Certificates and any Distribution Date, an annual rate equal to the weighted average of the Maximum Mortgage Rates of the Mortgage Loans in Loan Group IV minus the Expense Fee Rate.
Maximum Interest Rate means, in relation to a Series of Securities, if applicable, such rate as is specified as the Maximum Interest Rate in the Issue Terms.
Maximum Interest Rate has the meaning set forth in Section 2.9(c) hereof.
Maximum Interest Rate shall have the meaning specified in Section 3.13.
Maximum Interest Rate means the lesser of (i) 25% and (ii) the maximum rate of interest on the relevant obligation permitted by applicable law.
Maximum Interest Rate. Minimum Interest Rate: