Determination of Interest Rates for LIBOR Classes. (a) The Interest Rate for any LIBOR Class of a Series for each Interest Accrual Period will be determined by the Issuer on the Index Determination Date in the month following the month in which the Settlement Date for such Series occurs and on each Index Determination Date thereafter so long as such LIBOR Class is outstanding. The Issuer will determine the Interest Rate on the basis of LIBOR and the applicable formula specified in the related Prospectus Supplement.
Appears in 4 contracts
Samples: Remic Master Trust Agreement, Remic Master Trust Agreement, Remic Master Trust Agreement
Determination of Interest Rates for LIBOR Classes. (a) The Interest Rate for any LIBOR Class of a Series for each Interest Accrual Period will be determined by the Issuer on the Index Determination Date in the month following the month in which the Settlement Date for such Series occurs and on each Index Determination Date thereafter so long as such LIBOR Class is outstanding. The Issuer will determine the Interest Rate on the basis of LIBOR and the applicable formula specified in the related Prospectus SupplementSupplement or the related Lower Tier Schedule or Middle Tier Schedule, as the case may be.
Appears in 4 contracts
Samples: Remic Master Trust Agreement, Remic Master Trust Agreement, Remic Master Trust Agreement
Determination of Interest Rates for LIBOR Classes. (a) The Interest Rate for any LIBOR Class of a an SMBS Series for each Interest Accrual Period will be determined by the Issuer on the Index Determination Date in the month following the month in which the Settlement Date for such SMBS Series occurs and on each Index Determination Date thereafter so long as such LIBOR Class is outstanding. The Issuer will determine the Interest Rate on the basis of LIBOR and the applicable formula specified in the related Prospectus SupplementXxxxxx Xxx Offering Document.
Appears in 3 contracts
Samples: Federal National Mortgage Association, Trust Agreement, Federal National Mortgage Association
Determination of Interest Rates for LIBOR Classes. (a) The Interest Rate for any LIBOR Class of a Series for each Interest Accrual Period will be determined by the Issuer on the Index Determination Date in the month following the month in which the Settlement Date for such Series occurs and on each Index Determination Date thereafter so long as such LIBOR Class is outstanding. The Issuer will determine the Interest Rate on the basis of LIBOR and the applicable formula specified in the related Prospectus SupplementXxxxxx Mae Offering Document.
Appears in 2 contracts
Samples: SMBS Master Trust Agreement, SMBS Master Trust Agreement
