Class B-3 Interest Rate definition

Class B-3 Interest Rate. With respect to any Payment Date, the least of:
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Class B-3 Interest Rate. With respect to each Payment Date, the Class B-3 Interest Rate per annum is One-Month LIBOR, as determined on the applicable Floating Rate Determination Date, plus 1.75%, subject to a cap of 11.00%, except that (i) for the initial Payment Date, the Class B-3 Interest Rate is 7.40% per annum; and (ii) the Class B-3 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-3 Bonds is One-Month LIBOR, as determined on the applicable Floating Rate Determination Date, plus 2.25%, subject to a cap of 11.50%; provided that, if the Issuer redeems the Class B-3 Bonds through an Affiliate and the Class B-3 Bonds remain Outstanding following such purchase, such Class B-3 Interest Rate shall not be increased as provided in this clause (ii).
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Class B-3 Interest Rate means an interest rate equal to 7.80% per annum, calculated on the basis of a 360-day year of twelve 30-day months.
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Examples of Class B-3 Interest Rate in a sentence

  • Interest shall accrue on the Class B Deficiency Amount for the Class B-1 Notes at the Class B-1 Interest Rate, on the Class B Deficiency Amount for the Class B-2 Notes at the Class B-2 Interest Rate and on the Class B Deficiency Amount for the Class B-3 Notes at the Class B-3 Interest Rate.


More Definitions of Class B-3 Interest Rate

Class B-3 Interest Rate. The Class B-3 Interest Rate is the per annum rate equal to One-Month LIBOR, as determined on the applicable Floating Rate Determination Date, plus 1.75%, subject to a cap of 11%, accrued during the applicable Accrual Period on the outstanding principal balance of the Class B-3 Bonds immediately prior to such Payment Date, except that (i) for the initial Payment Date, the Class B-3 Interest Rate is 7.4375% per annum; and (ii) the Class B-3 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 2.25% subject to a cap of 11.50%; provided that, if the Issuer redeems the Class B-3 Bonds through an Affiliate and the Class B-3 Bonds remain outstanding following such purchase, the Class B-3 Interest Rate shall not be increased as provided in this clause (ii).
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Related to Class B-3 Interest Rate

  • Class A-1 Interest Rate means 0.75000% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Class A-3 Interest Rate means 1.49% 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 C Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

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

  • 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-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 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 E Interest Rate means 4.99% 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-2a Interest Rate means [●]% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

  • Class D Interest Rate means [ ]% 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].

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

  • 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].

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

  • 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 0.06% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

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

  • Class A-4 Note Interest Rate means a rate per annum equal to 2.11%.

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

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

  • Class B-3 Principal Balance As to the first Determination Date, the Original Class B-3 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-3 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-3 Certificates on prior Distribution Dates (A) pursuant to Paragraph thirteenth 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-3 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, the Class B-1 Principal Balance and the Class B-2 Principal Balance as of such Determination Date.