Class A Formula Rate definition
Class A Formula Rate. With respect to the Class A Notes and any Accrual Period, a per annum rate equal to LIBOR plus 0.35%.
Class A Formula Rate. For any Interest Accrual Period, (x) with respect to any Payment Date which occurs on or prior to the Optional Redemption Date, LIBOR plus 0.17% per annum and (y) for any Payment Date thereafter, LIBOR plus 0.34% per annum.
Class A Formula Rate. For any Interest Accrual Period, the sum of (i) LIBOR and (ii) 0.23%.
Examples of Class A Formula Rate in a sentence
On or prior to each LIBOR Determination Date, the Indenture Trustee shall determine the Class A Formula Rate and Class M Formula Rate for the related Payment Date.
On or prior to each LIBOR Determination Date, the Master Servicer shall determine the Class A Formula Rate and Class M Formula Rate for the related Payment Date based on the determination of LIBOR made by the Administrator as set forth in this Section 5.02.
More Definitions of Class A Formula Rate
Class A Formula Rate. With respect to the Class A Certificates, and with respect to the initial Accrual Period, 4.4250% per annum, and as to any Accrual Period thereafter, will be a per annum rate equal to LIBOR plus 0.2900%; provided, however, that in any Accrual Period in which the Master Servicer has the option to purchase all Home Equity Loans pursuant to clause (i) of Section 10.1(a), the Class A Formula Rate will be a per annum rate equal to LIBOR plus 0.5800%.
Class A Formula Rate. With respect to the Class A Notes and any Accrual Period, a per annum rate equal to LIBOR plus [__]%.