DETERMINATION OF NOTE INTEREST RATE. On each Interest Determination Date the Securities Administrator shall determine One-Month LIBOR and the related Note Interest Rate for each Class of Notes for the following Accrual Period. The establishment of One-Month LIBOR on each Interest Determination Date by the Securities Administrator and the Securities Administrator's calculation of the rate of interest applicable to each Class of Notes for the related Accrual Period shall (in the absence of manifest error) be final and binding.
Appears in 10 contracts
Samples: Indenture (MORTGAGEIT TRUST 2005-4, Mortgage-Backed Notes, Series 2005-4), Indenture (MORTGAGEIT TRUST 2005-2, Mortgage-Backed Notes, Series 2005-2), Indenture (MortgageIT Trust 2005-5, Mortgage-Backed Notes, Series 2005-5)
DETERMINATION OF NOTE INTEREST RATE. On each Interest Determination Date the Securities Administrator shall determine One-Month LIBOR and the related Note Interest Rate for each Class of Notes for the following Accrual Period. The establishment of One-Month LIBOR on each Interest Determination Date by the Securities Administrator and the Securities Administrator's ’s calculation of the rate of interest applicable to each Class of Notes for the related Accrual Period shall (in the absence of manifest error) be final and binding.
Appears in 2 contracts
Samples: Indenture (Homebanc Corp), Indenture (Homebanc Corp)
