Class A-3 Formula Rate definition

Class A-3 Formula Rate. For any Distribution Date and the applicable Interest Period, the sum of (A) One-Month LIBOR and (B) in any month up to and including the month in which the Clean-Up Call Date occurs, __% per annum, and __% per annum thereafter.
Sample 1Sample 2Sample 3
Class A-3 Formula Rate. For each Distribution Date, a rate per annum equal to One-Month LIBOR applicable to the related Interest Accrual Period, plus the Class A-3 Certificate Margin.
Sample 1Sample 2Sample 3
Class A-3 Formula Rate. For each Distribution Date, a rate per annum equal to the lesser of (a) One-Month LIBOR applicable to the related Interest Accrual Period, plus the Class A-3 Certificate Margin and (b) the Pool Maximum Rate Cap.
Sample 1Sample 2

Examples of Class A-3 Formula Rate in a sentence

  • The Pass-Through Rate for the Class A-3 Certificates for each Distribution Date will be the lesser of (i) the Class A-3 Formula Rate and (ii) the Pool Cap.


More Definitions of Class A-3 Formula Rate

Class A-3 Formula Rate. With respect to the First Distribution Date, ---------------------- 6.650% per annum. With respect to all subsequent Distribution Dates, the Auction Rate established for the Class A-3 Certificates for such Distribution Date as determined pursuant to the Auction Procedures.
Sample 1

Related to Class A-3 Formula Rate

  • Class A-2a Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-3 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-1 Rate means 5.604% per annum (computed on the basis of the actual number of days elapsed during the relevant Interest Period and a 360‑day year).

  • Class A-4 Component The Component having such designation.

  • Class A-3 Note Interest Rate means a rate per annum equal to %.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-3 Rate means [ ]% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.

  • Class A-3 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-3 Rate and (B) the outstanding principal balance of the Class A-3 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-3 Notes on or before such preceding Distribution Date).

  • Class A-3 Pass-Through Rate For any Distribution Date, a per annum rate equal to 2.8600%.

  • Class A-4 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-4 Rate and (B) the outstanding principal balance of the Class A-4 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-4 Notes on or before such preceding Distribution Date).

  • Class A-2 Rate means [ ]% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.

  • Class A-2b Interest Rate means LIBOR + 0.16% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Class A-2b Rate means, for any Distribution Date and the related Accrual Period, the Benchmark for the related Accrual Period plus 0.07% per annum (subject to any related Benchmark Replacement Adjustment); provided, however, that for any Accrual Period for which the sum of the Benchmark for that Accrual Period plus such applicable spread is less than 0.00%, the Class A-2b Rate for that Accrual Period shall be deemed to be 0.00%.

  • Class A-2-A Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-4 Rate means [ ]% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.

  • Class A-3 Principal Balance as of any date means the Class A‑3 Initial Principal Balance less all amounts paid to the holders of Class A‑3 Notes in respect of principal pursuant to Section 5.06 hereof.

  • Class A-4 Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to 3.469%.

  • Class A-2a Interest Rate means 0.45% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-2 Component The Component having such designation.

  • Class A-4 Principal Balance as of any date means the Class A‑4 Initial Principal Balance less all amounts paid to the holders of Class A‑4 Notes in respect of principal pursuant to Section 5.06 hereof.

  • Class A-1 Note Rate means, with respect to any Quarterly Interest Period, the interest rate per annum (computed on the basis of the actual number of days in such Quarterly Interest Period over a year of 360 days) equal to Three-Month LIBOR for the related LIBOR Reset Period plus 0.08%.

  • Class M-1 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-1 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-1 Certificates with respect to interest on such prior Distribution Dates and (2) interest on such excess (to the extent permitted by applicable law) at the Class M-1 Pass-Through Rate for the related Accrual Period.

  • Class A Note Rate means 2.97% per annum.

  • Class A-3 Note Balance means, at any time, the Initial Class A-3 Note Balance reduced by all payments of principal made prior to such time on the Class A-3 Notes.

  • Class A-3 Notes means the Class of Auto Loan Asset Backed Notes designated as Class A-3 Notes, issued in accordance with the Indenture.

  • Class A-2 Note Interest Rate means a rate per annum equal to %.