Class B-1 Interest Rate definition

Class B-1 Interest Rate. With respect to any Payment Date, the least of:
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Class B-1 Interest Rate means 8.99% per annum, computed on the basis of a year of 360 days consisting of twelve 30-day months.
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Class B-1 Interest Rate means a floating rate per annum equal to the lesser of (a) LIBOR plus the Class B-1 Margin, and (b) the Adjusted Net WAC Cap Rate, but in no case more than 15.00% per annum.
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Examples of Class B-1 Interest Rate in a sentence

  • For each subsequent Distribution Date, the Class B1 Certificate Rate will equal the weighted average of the net rates of the two loan groups supporting the Class B Certificates less the Class B1 Interest Rate Strip.

  • Interest thereon (to the extent payment thereof is legally permissible) at the Class B-1 Interest Rate.

  • For its duration, the Class B-1 Interest Rate Cap pays the Trust the product of (i) the difference between the then current 1-month LIBOR rate (not to exceed the cap ceiling) and the cap strike (on an actual/360 day count basis) and (ii) the Class B-1 Interest Rate Cap Notional Balance (the "Class B-1 Interest Rate Cap Payment") as described on the schedule herein.

  • Interest on Class B-1 Adjusted Principal Balance (a) Class B-1 Adjusted Principal Balance $ 14,437,000.00 --------------- (b) Class B-1 Interest Rate 10.48% ------ (c) Class B-1 Interest Amount $ 121,880.36 --------------- (d) Unpaid Class B-1 Interest Shortfall $ 0.00 --------------- (e) Class B-1 Interest Paid $ 121,880.36 --------------- (f) Class B-1 Interest Carryover Shortfall $ 0.00 --------------- Principal --------- 12.

  • Class B-1 Certificates The Class B-1 Interest Rate Cap Payment shall be available to pay any Basis Risk Carry Forward Interest Rate Cap Amount due to the Class B-1 Certificates.


More Definitions of Class B-1 Interest Rate

Class B-1 Interest Rate means 13.55% per annum, computed on the basis of a year of 360 days consisting of twelve 30-day months.
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Class B-1 Interest Rate. With respect to each Payment Date, the Class B-1 Interest Rate per annum is One-Month LIBOR, as determined on the applicable Floating Rate Determination Date, plus 0.75%, subject to a cap of 10.25%, except that (i) for the initial Payment Date, the Class B-1 Interest Rate is 6.71% per annum; and (ii) the Class B-1 Interest Rate per annum for any Payment Date following the first Payment Date on which the Issuer has the option to redeem the Bonds is One-Month LIBOR, as determined on the applicable Floating Rate Determination Date, plus 1.25% subject to a cap of 10.75%; provided that, if the Issuer redeems the Class B-1 Bonds through an Affiliate and the Class B-1 Bonds remain outstanding following such purchase, the Class B-1 Interest Rate shall not be increased as provided in this clause (ii).
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Class B-1 Interest Rate means 9.80%.
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Class B-1 Interest Rate. The Class Interest Rate for the Class B-1 Bonds will equal, subject to a cap of 14% per annum, the per annum rate equal to the sum of (a) the per annum rate, subject to a cap of 10.00%, equal to One-Month LIBOR, as determined on the applicable Floating Rate Determination Date, plus 0.65% (1.15% if the Issuer does not exercise its option to redeem the Bonds when first permitted to do so; provided that, if the Issuer redeems the Class B-1 Bonds through an Affiliate and the Class B-1 Bonds remain outstanding following such purchase, the Class B-1 Interest Rate shall not be increased as provided in this parenthetical), accrued during the applicable Accrual Period on the outstanding principal balance of the Class B-1 Bonds immediately prior to such Payment Date and (b) the excess of (i) twelve times the amount of interest at the per annum rate equal to the excess of (x) the weighted average (by principal balance) of the Net Rates on the Loans over (y) the weighted average (by principal balance) of the Class Interest Rates on the Bonds (calculated, in the case of the Class A-3 and Class B-1 Bonds, solely by reference to clause (a) applicable to such Payment Date, accrued during the applicable Accrual Period on a notional principal balance equal to the aggregate outstanding principal balance of the Bonds immediately prior to such Payment Date over (ii) the sum of the Interest Carryover Amounts for all Classes of Bonds for the prior Payment Date, divided by (iii) the sum of the outstanding principal balances of the Class A-3 and Class B-1 Bonds immediately prior to such Payment Date.
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Class B-1 Interest Rate means a floating rate per annum equal to the least of (a) LIBOR plus the Class B-1 Margin, (b) the Adjusted Net WAC Cap Rate and (c) 15.00% per annum.
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Class B-1 Interest Rate. With respect to any Payment Date, the lesser of (x) the sum of (1) One-Month LIBOR for such Payment Date plus (2) the Note Margin for the Class B-1 Notes applicable to such Payment Date and (y) the Available Funds Cap Rate for such Payment Date.
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Related to Class B-1 Interest Rate

  • Class A-1 Interest Rate means 0.48000% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).

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

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

  • Class A Interest Rate has the meaning assigned to such term in the Indenture.

  • 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-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-2-B Interest Rate means LIBOR + 0.27% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360 day year); provided, however, that for any Interest Period for which the sum of LIBOR + 0.27% is less than 0.00%, the Class A-2-B Interest Rate shall be deemed to be 0.00%.

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

  • Class E Interest Rate means 5.02% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • 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 C Note Interest Rate means a per annum rate of [ ]% [in excess of LIBOR as determined on the LIBOR Determination Date for the applicable Interest Period].

  • Lower-Tier Interest Rate As described in the Preliminary Statement.

  • Class A-1 Note Interest Rate means a rate per annum equal to 0.64000%.

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

  • Certificate Interest Rate With respect to each Class of Certificates and any Distribution Date, the applicable per annum rate set forth or described in the Preliminary Statement hereto.

  • Class B Note Interest Rate means a per annum rate of [ ]% [in excess of LIBOR as determined on the LIBOR Determination Date for the applicable Interest Period].

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

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Class A Note Interest Rate means a per annum rate of [ ]% [in excess of LIBOR as determined on the LIBOR Determination Date for the applicable Interest Period].

  • Note Interest Rate means a per annum rate equal to 0.02% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

  • Class B-1 Pass-Through Rate For the first Distribution Date, 6.4350% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-1 Margin, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.

  • Class B-1 Principal Balance As to the first Determination Date, the Original Class B-1 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-1 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-1 Certificates on prior Distribution Dates (A) pursuant to Paragraph seventh of Section 4.01(a) and (B) as a result of a Principal Adjustment and (b) the Realized Losses allocated through such Determination Date to the Class B-1 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the Class A Principal Balance as of such Determination Date.

  • Class B-3 Pass-Through Rate For the first Distribution Date, 4.120% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-3 Margin, (2) the Weighted Maximum Rate Cap and (3) the Available Funds Cap for such Distribution Date.

  • Class B-2 Principal Balance As to the first Determination Date, the Original Class B-2 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-2 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-2 Certificates on prior Distribution Dates (A) pursuant to Paragraph tenth of Section 4.01(a) and (B) as a result of a Principal Adjustment and (b) the Realized Losses allocated through such Determination Date to the Class B-2 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the sum of the Class A Principal Balance and the Class B-1 Principal Balance as of such Determination Date.