Determination of Note Interest Rate and LIBOR. (a) At least one (1) Business Day prior to each Determination Date, the Administrator shall calculate the Note Interest Rate for the related Interest Accrual Period (in the case of the Series 2013-VF2 Variable Funding Notes using the Commercial Paper Rate determined by the Conduit Administrative Agent and One Month LIBOR as determined by the Administrative Agent in accordance with Section 8(b) below, as applicable) and the Interest Payment Amount for the Series 2013-VF2 Notes for the upcoming Payment Date, and include a report of such amount in the related Payment Date Report. (b) On each LIBOR Determination Date, the Administrative Agent will determine the arithmetic mean of the London Interbank Offered Rate (“LIBOR”) quotations for one-month Eurodollar deposits (“One-Month LIBOR”) for the succeeding Interest Accrual Period for the Series 2013-VF2 Notes on the basis of the Reference Banks’ offered LIBOR quotations provided
Appears in 2 contracts
Samples: Amended and Restated Indenture Supplement (Nationstar Mortgage Holdings Inc.), Amended and Restated Indenture Supplement (New Residential Investment Corp.)
Determination of Note Interest Rate and LIBOR. (a) At least one (1) Business Day prior to each Determination Date, the Administrator shall calculate the Note Interest Rate for the related Interest Accrual Period (in the case of the Series 2013-VF2 VF1 Variable Funding Notes using the Commercial Paper Rate determined by the Conduit Administrative Agent and One Month LIBOR as determined by the Administrative Agent in accordance with Section 8(b) below, as applicable) and the Interest Payment Amount for the Series 2013-VF2 VF1 Notes for the upcoming Payment Date, and include a report of such amount in the related Payment Date Report.
(b) On each LIBOR Determination Date, the Administrative Agent will determine the arithmetic mean of the London Interbank Offered Rate (“LIBOR”) quotations for one-month Eurodollar deposits (“One-Month LIBOR”) for the succeeding Interest Accrual Period for the Series 2013-VF2 VF1 Notes on the basis of the Reference Banks’ offered LIBOR quotations provided
Appears in 2 contracts
Samples: Amended and Restated Indenture Supplement (New Residential Investment Corp.), Amended and Restated Indenture Supplement (Nationstar Mortgage Holdings Inc.)
