Class B-2 Interest Rate definition

Class B-2 Interest Rate. With respect to any Payment Date, the least of:
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Class B-2 Interest Rate means a floating rate per annum equal to the lesser of (a) LIBOR plus the Class B-2 Margin, and (b) the Adjusted Net WAC Cap Rate, but in no case more than 15.00% per annum.
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Class B-2 Interest Rate means 11.16% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.
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Examples of Class B-2 Interest Rate in a sentence

  • For each subsequent Distribution Date, the Class B2 Certificate Rate will equal the weighted average of the net rates of the two loan groups supporting the Class B Certificates less the Class B2 Interest Rate Strip.

  • Interest thereon (to the extent payment thereof is legally permissible) at the Class B-2 Interest Rate.

  • The “Interest Rate Cap Agreement Payment Date” is the second Business Day prior to the 25th day of each month beginning in October 2005, to and including the related termination date (being September 2011, with respect to the Mortgage Loan Interest Rate Cap Agreement, and January 2011, with respect to the Class A-2 Interest Rate Cap Agreement and the Class B-2 Interest Rate Cap Agreement), subject to the Modified Following Business Day Convention (within the meaning of the 2000 ISDA Definitions).

  • For its duration, the Class B-2 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-2 Interest Rate Cap Notional Balance (the "Class B-2 Interest Rate Cap Payment") as described on the schedule herein.

  • Class B-2 Interest Rate 10.96% ------ (a) Class B-2 Interest Amount $ 182,100.40 -------------- (b) Unpaid Class B-2 Interest Shortfall $ 0.00 -------------- (c) Class B-2 Interest Paid $ 182,100.40 -------------- (d) Class B-2 Interest Carryover Shortfall $ 0.00 -------------- Principal 55.


More Definitions of Class B-2 Interest Rate

Class B-2 Interest Rate means 10.96% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.
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Class B-2 Interest Rate. With respect to each Payment Date, the Class B-2 Interest Rate per annum is One-Month LIBOR, as determined on the applicable Floating Rate Determination Date, plus 1.00%, subject to a cap of 10.50%, except that (i) for the initial Payment Date, the Class B-2 Interest Rate is 6.65% per annum; and (ii) the Class B-2 Interest Rate per annum for any Payment Date following the first Payment Date on which the Issuer has the option to redeem the Class B-2 Bonds is One-Month LIBOR, as determined on the applicable Floating Rate Determination Date, plus 1.50%, subject to a cap of 11.00%; provided that, if the Issuer redeems the Class B-2 Bonds through an Affiliate and the Class B-2 Bonds remain Outstanding following such purchase, the Class B-2 Interest Rate shall not be increased as provided in this clause (ii).
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Class B-2 Interest Rate means 11.72%.
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Class B-2 Interest Rate means an interest rate equal to 7.70% per annum, calculated on the basis of a 360-day year of twelve 30-day months.
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Class B-2 Interest Rate. The Class B-2 Interest Rate is the per annum rate equal to One-Month LIBOR, as determined on the applicable Floating Rate Determination Date, plus 1.00%, subject to a cap of 10.50%, accrued during the applicable Accrual Period on the outstanding principal balance of the Class B-2 Bonds immediately prior to such Payment Date, except that (i) for the initial Payment Date, the Class B-2 Interest Rate is 6.6875% per annum, and (ii) the Class B-2 Interest Rate for any Payment Date following the first Payment Date on which the Issuer has the option to redeem the Bonds shall be the per annum rate equal to One-Month LIBOR, as determined on the applicable Floating Rate Determination Date, plus 1.50% subject to a cap of 11.00%; provided that, if the Issuer redeems the Class B-2 Bonds through an Affiliate and the Class B-2 Bonds remain outstanding following such purchase, the Class B-2 Interest Rate shall not be increased as provided in this clause (ii).
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Class B-2 Interest Rate means a rate equal to the lesser of (a) 9.44% per annum and (b) the Adjusted Net WAC Cap Rate.
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Class B-2 Interest Rate means 10.08% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.
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