Common use of Determination of Note Rate Clause in Contracts

Determination of Note Rate. On each Interest Determination Date, the Indenture Trustee shall determine One-Month LIBOR and the related Note Rate for each Class of Notes for the following Interest Accrual Period. The establishment of One-Month LIBOR on each Interest Determination Date by the Indenture Trustee and the Indenture Trustee'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 14 contracts

Samples: Indenture (Citigroup Mortgage Loan Trust Inc), Indenture (New Century Mortgage Securities LLC), Indenture (Boardwalk Mortgage Securities Inc.)

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Determination of Note Rate. On each Interest Determination Date, the Indenture Trustee shall determine One-Month LIBOR and the related Note Rate for each Class of Notes for the following Interest Accrual Period. The establishment of One-Month LIBOR on each Interest Determination Date by the Indenture Trustee and the Indenture Trustee'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 8 contracts

Samples: Indenture (New Century Home Equity Loan Trust 2005-2), Indenture (New Century Home Equity Loan Trust 2005-3), Indenture (New Century Alternative Mortgage Loan Trust 2006-Alt1)

Determination of Note Rate. On each Interest Determination Date, the Indenture Trustee Securities Administrator shall determine One-Month LIBOR and the related Note Rate for each Class of Notes for the following Interest Accrual Period. The establishment of One-Month LIBOR on each Interest Determination Date by the Indenture Trustee Securities Administrator and the Indenture Trustee's 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 3 contracts

Samples: Indenture (Peoples Choice Home Loan Securities Trust Series 2005-4), Indenture (Peoples Choice Home Loan Securities Trust Series 2005-2), Indenture (Peoples Choice Home Loan Securities Trust Series 2005-3)

Determination of Note Rate. On each Interest Determination Date, the The Indenture Trustee shall determine One-Month LIBOR and the related applicable Note Rate for each Class of the Class A-1 Notes for the following Interest Accrual Period. The establishment of One-Month LIBOR on each Interest Determination Period as of the second LIBOR Business Day immediately preceding (i) the Closing Date in the case of the first Interest Period for the Notes and (ii) the first day of each succeeding Interest Period for the Notes, and shall inform the Issuer, the Servicer and the Depositor by the Indenture Trustee and means of the Indenture Trustee'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 bindingonline service.

Appears in 2 contracts

Samples: Indenture (Gmacm Home Equity Loan Trust 2004-He5), Indenture (Residential Asset Mort Prod Inc Gmacm Home Eq L N Tr 04 He2)

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Determination of Note Rate. On each Interest Determination Date, the Indenture Trustee Securities Administrator shall determine One-Month LIBOR and the related Note Rate for each Class of Notes for the following Interest Accrual Period. The establishment of One-Month LIBOR on each Interest Determination Date by the Indenture Trustee Securities Administrator and the Indenture TrusteeSecurities Administrator's calculation of the rate of interest applicable to each Class of Notes for the related Interest Accrual Period shall (in the absence of manifest error) be final and binding.

Appears in 1 contract

Samples: Indenture (Newcastle Mortgage Securities Trust 2007-1)

Determination of Note Rate. On each Interest Determination Date, the Indenture Trustee shall determine One-Month LIBOR and the related Note Rate for each Class of Notes for the following Interest Accrual Period. The establishment of One-Month LIBOR on each Interest Determination Date by the Indenture Trustee and the Indenture Trustee'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 1 contract

Samples: Indenture (Home Loan Mortgage Loan Trust 2004-2)

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