Common use of Determination of Pass-Through Rates for LIBOR Certificates Clause in Contracts

Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the rate for one-month deposits in U.S. dollars quoted on the Bloomberg Terminal for such LIBOR Determination Date. (b) If on any Interest Determination Date, LIBOR cannot be determined as provided in paragraph (a) of this Section 4.08, the Trustee shall 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 Moneyline Telerate Service (formerly the Dow Jones Markets) (or such other page xx xay replace that page on that service for the purpose of displaying comparable rates or prices).

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oa2), Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oa16), Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oa1)

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Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the rate for one-month deposits in U.S. dollars quoted on the Bloomberg Terminal for such LIBOR Determination Date. (b) If on any Interest Determination Date, LIBOR cannot be determined as provided in paragraph (a) of this Section 4.08, the Trustee shall 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 Moneyline Telerate Service (formerly the Dow Jones Markets) Bloomberg Terminal (or such other page xx xay as may replace that page on that service for the purpose of displaying comparable rates or prices).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oa9), Pooling and Servicing Agreement (Alternative Loan Trust 2007-Al1)

Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the rate for one-month deposits in U.S. dollars quoted on the Bloomberg Terminal for such LIBOR Determination Date. (b) If on any Interest Determination Date, LIBOR cannot be determined as provided in paragraph (a) of this Section 4.08, the Trustee shall 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 Moneyline Telerate Service (formerly the Dow Jones Xxxxx Markets) (or such other page xx xay as may replace that page on that service for the purpose of displaying comparable rates or prices).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oa12), Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oa17)

Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the rate for one-month deposits in U.S. dollars quoted on the Bloomberg Terminal for such LIBOR Determination Date. (b) If on any Interest Determination Date, LIBOR cannot be determined as provided in paragraph (a) of this Section 4.084.07, the Trustee shall 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 Moneyline Telerate Service (formerly the Dow Jones Markets) (or such other page xx xay as may replace that page on that service xxxxxce for the purpose of displaying comparable rates or prices).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oa11)

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Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the rate for one-month deposits in U.S. dollars quoted on the Bloomberg Terminal for such LIBOR Determination Date. (b) If on any Interest Determination Date, LIBOR cannot be determined as provided in paragraph (a) of this Section 4.08, the Trustee shall 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 Moneyline Telerate Service (formerly the Dow Jones Markets) (or such other page pagx xx xay may replace that page on that service for the purpose of displaying comparable rates or prices).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oa9)

Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the rate for one-month deposits in U.S. dollars quoted on the Bloomberg Terminal for such LIBOR Determination Date. (b) If on any Interest Determination Date, LIBOR cannot be determined as provided in paragraph (a) of this Section 4.08, the Trustee shall 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 Moneyline Telerate Service (formerly the Dow Jones Markets) Bloomberg Terminal (or such other page xx xay as may replace that page on that service for the purpose of displaying comparable rates or prices).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oh1)

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