Class B-3 Pass-Through Rate definition

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-3 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, the lesser of (1) One-Month LIBOR plus 1.150% per annum and (ii) 11.00% per annum and (ii) for each Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus 1.725% per annum and (ii) 11.00% per annum, in each case subject to a cap equal to the related Net Rate Cap for such Distribution Date.

Class B-3 Pass-Through Rate. For each Distribution Date, the least of (i) LIBOR as of the related LIBOR Determination Date, plus the Class B-3 Certificate Margin, (ii) the Subordinate Rate Cap and (iii) the Subordinate Maximum Rate Cap.

Examples of Class B-3 Pass-Through Rate in a sentence

• Interest will accrue on the Class B-3 Certificates during each Interest Accrual Period at the Class B-3 Pass-Through Rate.

• The Class B-3 Pass-Through Rate on each Distribution Date will be a rate per annum equal to the lesser of (i) the sum of one month LIBOR plus the Class B-3 Certificate Margin and (ii) the Rate Cap for such Distribution Date.

• The Class B-3 Pass-Through Rate will be a per annum rate equal to the least of (x) for any Distribution Date which occurs prior to the second Distribution Date after the first possible Optional Termination Date, One-Month LIBOR plus [ ]% (the "Class B-3 Margin"), and beginning on the first Distribution Date after the first possible Optional Termination Date, One-Month LIBOR plus 1.5 times the Class B-3 Margin, (y) the Subordinate Rate Cap and (z) the Subordinate Maximum Rate Cap.

• The Class B-3 Pass-Through Rate on each Distribution Date will be a rate per annum equal to the lesser of (i) the sum of one month LIBOR plus the Class B-3 Certificate Margin and (ii) the related Rate Cap for such Distribution Date.

• Series 1997-LB2, Class B-3 Pass-Through Rate: 7.25% per annum Date of Pooling and Servicing Agreement and Cut-off Date: April 1, 1997 First Distribution Date: May 27, 1997 No.

More Definitions of Class B-3 Pass-Through Rate

Class B-3 Pass-Through Rate. For each Distribution Date, LIBOR as of the related LIBOR Determination Date, plus the Class B-3 Certificate Margin.

Class B-3 Pass-Through Rate. For any Distribution Date on or before the Initial Optional Termination Date, the least of (1) 6.250%, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date; and for any Distribution Date after the Initial Optional Termination Date, the least of (1) 6.750%, (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-3 Pass-Through Rate. A per annum rate equal to 7.525%.

Class B-3 Pass-Through Rate. For each Distribution Date, the least of (i) (a) on or prior to the Optional Termination Date, 6.0000% per annum and (b) following the Optional Termination Date, 6.5000% per annum, (ii) the Subordinate Net WAC Cap and (iii) the Subordinate Maximum Rate Cap.

Class B-3 Pass-Through Rate. For the first Distribution Date, 7.500% per annum. As of any Distribution Date thereafter, the lesser of (1) (x) as of any Distribution Date up to and including the Initial Optional Termination Date, 7.500% per annum or (y) as of any Distribution Date after the Initial Optional Termination Date, 8.000% per annum and (2) the Weighted Average Available Funds Cap for such Distribution Date.

Class B-3 Pass-Through Rate. With respect to each Distribution Date, the least of:

Class B-3 Pass-Through Rate. For each Distribution Date, the lesser of (i) the Class B-3 Fixed Rate and (ii) the related Rate Cap for such Distribution Date.