ARS Student Loan Rate definition

ARS Student Loan Rate means, respect to any Accrual Period, the rate of interest per annum (rounded to the next highest one-hundredth of one percent) equal to the Effective Interest Rate minus the Expense Percentage. The Administrator shall, on behalf of the Issuer, calculate the ARS Student Loan Rate as of the last day of calendar month.
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ARS Student Loan Rate means, respect to any Accrual Period, the rate of interest per annum (rounded to the next highest one­ hundredth of one percent) equal to the Effective Interest Rate minus the Expense Percentage. The Administrator shall, on behalf of the Issuer, calculate the ARS Student Loan Rate as of the last day of calendar month.
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Examples of ARS Student Loan Rate in a sentence

  • If the Auction Rate for the Auction Rate Notes is greater than the ARS Student Loan Rate, then the Variable Rate applicable to such Auction Rate Notes for that Accrual Period will be the ARS Student Loan Rate and the Issuer shall determine the Carry-over Amount, if any, with respect to such Auction Rate Notes for such Accrual Period.

  • Auction Agent notifies the Indenture Trustee, and the Broker-Dealers of the Maximum Rate, the ARS Student Loan Rate (as communicated to it by the Indenture Trustee), the All Hold Auction Rate and the Applicable LIBOR Rate.

  • The ARS Student Loan Rate, and the period over which such rate shall be applied, shall, from time to time, be determined by the Administrator, be communicated in writing to the Indenture Trustee, who shall forward such information in writing to the Auction Agent.