SONIA Reference Rate means, in respect of any London Banking Day, a reference rate equal to the daily Sterling Overnight Index Average ("SONIA") rate for such London Banking Day as provided by the administrator of SONIA to authorised distributors and as then published on the Relevant Screen Page (or if the Relevant Screen Page is unavailable, as otherwise is published by such authorised distributors) on the London Banking Day immediately following such London Banking Day; and
Advance Rate has the meaning assigned to such term in Section 5.13.
€STR Reference Rate means, in respect of any TARGET Business Day, a reference rate equal to the daily Euro Short-Term Rate ("€STR") for such TARGET Business Day as provided by the European Central Bank, as administrator of such rate (or any successor administrator of such rate), on the website of the European Central Bank initially at http://www.ecb.europa.eu, or any successor website officially designated by the European Central Bank (the "ECB's Website") (in each case, at the time specified by, or determined in accordance with, the applicable methodology, policies or guidelines on the TARGET Business Day immediately following such TARGET Business Day).
Advance Rates shall have the meaning set forth in Section 2.1(a) hereof.
Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the applicable Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Principal Paying Agent on the relevant Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the Relevant Decimal Place:
Reference Rate means the rate specified as such hereon.
Remittance Rate With respect to each Mortgage Loan, the related Note Rate minus the Servicing Fee Rate.
REMIC Remittance Rate The REMIC I Remittance Rate or the REMIC II Remittance Rate.
REMIC I Remittance Rate The per annum rate at which interest accrues in respect of any REMIC I Regular Interest during any Interest Accrual Period, as set forth in or otherwise calculated in accordance with Section 2.11(f).
Original Reference Rate means the originally-specified benchmark or screen rate (as applicable) used to determine the Rate of Interest (or any component part thereof) on the Notes.
Utilization Fee Rate means the percentage set forth in Schedule 1 hereto beside the then applicable Level.
Program Fee Rate is defined in the Fee Letter.
Replacement Reference Rate means a reference rate which is:
Liquidation Fee Rate With respect to each Specially Serviced Mortgage Loan or REO Property as to which a Liquidation Fee is payable, 1.0%.
Per Annum means for a year deemed to be comprised of 360 days.
Fee Rate means initially 0.25% per annum, which shall be subject to increase by 0.25% per annum for each Week in respect of which any Failure has occurred and is continuing.
Reset Reference Rate means, in relation to a Reset Determination Date and subject to Condition 5(b)(iii) and Condition 5(c)(v), if applicable:
Successor Reference Rate means the rate that the relevant Independent Adviser determines is a successor to or replacement of the Reference Rate which is formally recommended by any Relevant Nominating Body.
REMIC II Remittance Rate The per annum rate at which interest accrues in respect of any REMIC II Regular Interest during any Interest Accrual Period, as set forth in or otherwise calculated in accordance with Section 2.13(f).
Term SOFR Reference Rate means the forward-looking term rate based on SOFR.
Maximum Advance Rate means 80.0%.
L/C Fee Rate means the Applicable Margin with respect to LIBOR Rate Loans.
Applicable Reference Rate means, collectively or individually, Term SOFR, Daily Compounded XXXXX, XXXXX or the EURIBOR Rate.
Final rate means an indirect cost rate applicable to a specified past period which is based on the actual allowable costs of the period. A final audited rate is not subject to adjustment.
Benchmark Rate means, with respect to any Redemption Date, the rate per annum equal to the annual equivalent yield to maturity or interpolated maturity of the Comparable Benchmark Issue (as defined below), assuming a price for the Comparable Benchmark Issue (expressed as a percentage of its principal amount) equal to the Comparable Benchmark Price for such Redemption Date.
Daily LIBOR Rate means, for any day, the rate per annum determined by the Agent by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the Reserve Percentage.