Determination of Pass-Through Rates for LIBOR Certificates. (a) On each LIBOR Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers’ Association (“BBA”) “Interest Settlement Rate” for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. “Telerate Page 3750” means the display page currently so designated on the Bridge Telerate Service (formerly the Dow Xxxxx Markets) or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices. LIBOR for the initial LIBOR Determination Date will be equal to the Initial LIBOR Rate.
Appears in 12 contracts
Samples: Pooling and Servicing Agreement (First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Fa3), Pooling Agreement (First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Re2), Pooling and Servicing Agreement (First Horizon Asset Sec Mort Pass THR Certs Ser 2006-Fa6)
Determination of Pass-Through Rates for LIBOR Certificates. (a) On each LIBOR Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers’ Association (“BBA”) “Interest Settlement Rate” for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. “Telerate Page 3750” means the display page currently so designated on the Bridge Moneyline Telerate Service (formerly the Dow Xxxxx Markets) (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices. LIBOR for the initial LIBOR Determination Date will be equal to the Initial LIBOR Rate).
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Countrywide Home Loans 2005-J8), Pooling and Servicing Agreement (Alternative Loan Trust 2005-J10), Pooling and Servicing Agreement (Alternative Loan Trust 2005-J11)
