Rate Adjustment Date. As to each Mortgage Loan, the Due Date on which date an adjustment to the Mortgage Interest Rate of such Mortgage Loan becomes effective under the related Mortgage Note, which Due Date is the date set forth in the Mortgage Loan Schedule as the first Rate Adjustment Date and each subsequent anniversary thereof.
Rate Adjustment Date. The second LIBOR Business Day prior to the first day of each Interest Accrual Period after the initial Interest Accrual Period.
Examples of Rate Adjustment Date in a sentence
With respect to adjustable rate Purchased Mortgage Loans, the Mortgage Interest Rate is adjusted on each Interest Rate Adjustment Date to equal the Index plus the Gross Margin (rounded up or down to the nearest .125%) subject to the Mortgage Interest Rate Cap.
More Definitions of Rate Adjustment Date
Rate Adjustment Date. Means the first day of each month.
Rate Adjustment Date. The date on which the Mortgage Interest Rate is adjusted with respect to each Group I Loan. The first Rate Adjustment Date for each Group I Loan is set forth on the Mortgage Loan Schedule.
Rate Adjustment Date means the date which is two Business Days following the -------------------- date that the Lenders receive the financial statements for the fiscal year ending December 31, 1996, required to be delivered pursuant to Section 6.2 of the Credit Agreement.
Rate Adjustment Date means the effective date of a change in the applicable LIBOR Rate, as follows:
Rate Adjustment Date. With respect to each Distribution Date and the Class A-2 and Class A-3 Certificates, the second LIBOR Business Day immediately preceding the commencement of the related Interest Accrual Period on which banks are open for dealing in foreign currency and exchange in London, England.
Rate Adjustment Date means July 1, 2007, and the first day of each October, January, April and July thereafter.
Rate Adjustment Date means the date as of which the interest rate determined for an Interest Mode shall be effective, which (i) during a Weekly Mode shall be Thursday of each week (whether or not a Business Day); (ii) during a Monthly Mode shall be the first calendar day of each month; (iii) during a Semiannual Mode shall be the first calendar day of such Semiannual Mode which shall be March 1 or September 1 and the first day following each six-month period thereafter; and, (iv) during an Annual Mode or a Multiyear Mode shall be the first calendar day of such Annual Mode or Multiyear Mode, which shall be September 1, and thereafter the first calendar day following the completion of the then current Annual Mode or Multiyear Mode. The initial Rate Adjustment Date is September 15, 1994.