ABS Rate definition

ABS Rate means a per annum rate of interest equal to the rate of interest determined by Bank, in its sole discretion, from time to time, to be its ABS Rate. Such ABS Rate shall change from time to time as of the effective date of each change in the ABS Rate as determined in the sole discretion of Bank. The ABS Rate may be greater or less than other interest rates charged by Bank to other borrowers and is not solely based or dependent upon the interest rate which Bank may charge any particular borrower or class of borrowers.
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ABS Rate means, as of any date, the assumed rate of prepayment on the Receivables for each Collection Period based upon the “Absolute Prepayment Model”, applied in accordance with then-current market standards.
Sample 1

Examples of ABS Rate in a sentence

  • Undersigned shall have the right at its option from time to time to prepay the Prime Rate Portion and ABS Rate Portion in whole or in part.

  • If at any time the ABS Rate Option is determined to exceed the Prime Rate Option, the ABS Rate Portion shall automatically convert to the Prime Rate Option.

  • Accrued interest on the Prime Rate Portion, ABS Rate Portion, and As Offered Rate Portion shall be due and payable on the last Business Day of each calendar month after the date hereof and on October 30, 1998.

  • Every selection of, conversion to or renewal of the ABS Rate Option, the LIBOR-Rate Option, or the As-Offered Rate option shall be in a principal amount selected by Undersigned but limited to no more than four interest rate segments at any one time.

  • Interest on the Base Rate Portion and the ABS Rate Portion shall be due and payable on the first (1st) Business Day of each calendar month.

  • Every selection of, conversion from, conversion to or renewal of an interest rate Option and every payment or prepayment of any Revolving Credit Loans shall be in a principal amount such that after giving effect thereto the aggregate principal amount of (i) the Base Rate Portion or the ABS Rate Portion shall be for any aggregate principal amount and (ii) each Funding Segment of the Euro-Rate Portion of the Revolving Credit Loans shall be $100,000 or an integral multiple thereof.

  • The Borrowers shall pay to the Bank interest on the unpaid principal balance of the aggregate outstanding balance of the Revolving Credit Loans which are Prime Rate Loans or ABS Rate Loans, in arrears, on the first (1st) day of the first (1st) full calendar month after the Closing Date and on the first day of each calendar month thereafter through and including the Expiry Date.

  • Accrued interest on the Prime Rate Portion, ABS Rate Portion, and As-Offered Rate Portion shall be due and payable on the last Business Day of each calendar month after the date hereof and on October 31, 1997.

  • Accrued interest on the Prime Rate Portion and the ABS Rate Portion shall be due and payable on the last Business Day of each calendar month after the date hereof and on October 31, 1995.

  • Every selection of, conversion to or renewal of the ABS Rate Option, the LIBOR-Rate Option, or the As-Offered Rate Option shall be in a principal amount selected by Undersigned but limited to no more than four interest rate segments at any one time.

Related to ABS Rate

  • Federal Funds Rate means, for any day, the rate per annum equal to the weighted average of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined by the Administrative Agent.

  • Reference Rate means the rate specified as such hereon.

  • Cost of Funds Rate means, for any Accrual Period and any Lender, the rate determined as set forth below:

  • Alternative Base Rate means the rate that has replaced LIBOR in customary market usage for determining floating interest rates in respect of bonds denominated in Dollars or, if the Independent Financial Adviser or the Issuer (in consultation with the Calculation Agent and acting in good faith and a commercially reasonable manner), as applicable, determines that there is no such rate, such other rate as the Independent Financial Adviser or the Issuer (in consultation with the Calculation Agent and acting in good faith and a commercially reasonable manner), as applicable, determines in its or the Issuer’s sole discretion is most comparable to LIBOR. If the Alternative Base Rate is determined, such Alternative Base Rate shall be the Alternative Base Rate for the remaining Interest Periods.

  • LIBOR Base Rate means, for each Interest Period, the London interbank offered rate for six-month deposits in Dollars for value the first day of such Interest Period (or, in the case of the initial Interest Period, for value the Interest Payment Date occurring on or next preceding the first day of such Interest Period), as reasonably determined by the Bank and expressed as a percentage per annum.

  • Base Rate means, for any day, the rate per annum equal to the higher of (a) the Federal Funds Rate for such day plus one-half of one percent (0.5%) and (b) the Prime Rate for such day. Any change in the Base Rate due to a change in the Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in the Prime Rate or Federal Funds Rate.

  • Alternate Base Rate means, for any day, a rate per annum equal to the greater of (a) the Prime Rate in effect on such day and (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of 1%. Any change in the Alternate Base Rate due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective from and including the effective date of such change in the Prime Rate or the Federal Funds Effective Rate, respectively.