Class B Certificate Rate Adjustment Conditions definition

Class B Certificate Rate Adjustment Conditions means, with respect to any modification of the Class B Certificate Rate by the Transferor, (i) the Transferor shall provide written notice to the Trustee of the modified Class B Certificate Rate no later than two Business Days prior to the date on which such modified rate is to become effective; (ii) the modified Class B Certificate Rate shall not exceed the rate specified in clause (A)(i) or clause (A)(ii), as applicable, of the definition of “Class B Certificate Rate,” (iii) the Class B Certificate Rate shall not be modified during the first Interest Accrual Period or more than two times during any subsequent Interest Accrual Period; (iv) the Transferor shall certify in the related notice that the modified Class B Certificate Rate is a fixed rate or a “qualified floating rate” (within the meaning of Treasury Regulations section 1.1275-5) otherwise meeting such relevant requirements as would cause the Class B Certificates to constitute variable rate debt instruments (within the meaning of Treasury Regulations section 1.1275-5, including without limitation paragraph (a)(4) thereof) and determined under procedures consistent with those applicable to reset bonds (as described in Treasury Regulations section 1.1275-5(f)) such that, in either case, the fair market value of the Class B Certificates will be the Class B Invested Amount; (v) the Transferor shall certify in the related notice that the Class B Certificates have not been previously sold by TRS or any of its Affiliates (including, without limitation, within the meaning of Affiliate, solely for purposes of this clause (v), any Person related to TRS within the meaning of sections 267(b) or 707(b)(1) of the Code) to a Person who is not TRS or any of its Affiliates; (vi) the Transferor shall provide to the Trustee an Opinion of Counsel to the effect that such modification shall not adversely affect the status of the Class B Certificates as debt for federal income tax purposes; (vii) if the modified Class B Certificate Rate is a fixed rate or a rate based on an index other than LIBOR, the Transferor shall provide two days’ notice of such modified rate to the Rating Agencies; and (viii) if the modified Class B Certificate Rate is a fixed rate or a rate based on an index other than LIBOR, the Transferor shall certify in the related notice to the Trustee that the Rating Agencies have been notified pursuant to clause (vii) above.
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Class B Certificate Rate Adjustment Conditions means, with respect to any modification of the Class B Certificate Rate by the Transferor, (i) the Transferor shall provide written notice to the Trustee of the modified Class B Certificate Rate no later than two Business Days prior to the date on which such modified rate is to become effective; (ii) the modified Class B Certificate Rate shall not exceed a per annum rate equal to 5.08%; (iii) the Class B Certificate Rate shall not be modified during the first Interest Accrual Period or more than two times during any subsequent Interest Accrual Period; (iv) the Transferor shall certify in the related notice that the Class B Certificates have not been previously sold by TRS or any of its Affiliates (including, without limitation, within the meaning of Affiliate, solely for purposes of this clause (iv), any Person related to TRS within the meaning of sections 267(b) or 707(b)(1) of the Code) to a Person who is not TRS or any of its Affiliates; (v) the Transferor shall provide two days’ notice of such modified rate to the Rating Agencies; and (vi) the Transferor shall certify in the related notice to the Trustee that the Rating Agencies have been notified pursuant to clause (v) above.
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Class B Certificate Rate Adjustment Conditions means, with respect to any modification of the Class B Certificate Rate by the Transferor, (i) the Transferor shall provide written notice to the Trustee of the modified Class B Certificate Rate no later than two Business Days prior to the date on which such modified rate is to become effective; (ii) the modified Class B Certificate Rate shall not exceed a per annum rate equal to 1.10%; (iii) the Class B Certificate Rate shall not be modified during the first Interest Accrual Period or more than two times during any subsequent Interest Accrual Period; (iv) the Transferor shall certify in the related notice that the Class B Certificates have not been previously sold by TRS or any of its Affiliates (including, without limitation, within the meaning of Affiliate, solely for purposes of this clause (iv), any Person related to TRS within the meaning of sections 267(b) or 707(b)(1) of the Code) to a Person who is not TRS or any of its Affiliates; (v) if the modified Class B Certificate Rate is a fixed rate or a rate based on an index other than LIBOR, the Transferor shall provide two days’ notice of such modified rate to the Rating Agencies; and (vi) if the modified Class B Certificate Rate is a fixed rate or a rate based on an index other than LIBOR, the Transferor shall certify in the related notice to the Trustee that the Rating Agencies have been notified pursuant to clause (v) above.
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More Definitions of Class B Certificate Rate Adjustment Conditions

Class B Certificate Rate Adjustment Conditions means, with respect to any modification of the Class B Certificate Rate by the Transferor, (i) the Transferor shall provide written notice to the Trustee of the modified Class B Certificate Rate no later than two Business Days prior to the date on which such modified rate is to become effective; (ii) the modified Class B Certificate Rate shall not exceed a per annum rate equal to 3.61%;
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Class B Certificate Rate Adjustment Conditions means, with respect to any modification of the Class B Certificate Rate by the Transferor,
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Class B Certificate Rate Adjustment Conditions means, with respect to any modification of the Class B Certificate Rate by the Transferors, (i) the Transferors shall provide written notice to the Trustee of the modified Class B Certificate Rate no later than two Business Days prior to the date on which such modified rate is to become effective; (ii) the modified Class B Certificate Rate shall not exceed a per annum rate equal to LIBOR plus 0.65%, (iii) the Class B Certificate Rate shall not be modified during the first Interest Accrual Period or more than two times during any subsequent Interest Accrual Period; (iv) the Transferors shall certify in the related notice that the modified Class B Certificate Rate is a fixed rate or a “qualified floating rate” (within the meaning of Treasury Regulations section
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Related to Class B Certificate Rate Adjustment Conditions

  • Class B Certificate Rate means, for any Interest Period with respect to the Class B Certificates, a per annum rate equal to LIBOR as of the LIBOR Determination Date for such Interest Period plus the Class B Certificate Rate Spread.

  • Class A Certificate Rate means, for any Interest Accrual Period with respect to the Class A Certificates, a per annum rate equal to LIBOR plus 0.11%.

  • Certificate Rate means 0.00% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

  • Interest Rate Adjustment Date With respect to each Adjustable Rate Mortgage Loan, the date, specified in the related Mortgage Note and the related Mortgage Loan Schedule, on which the Mortgage Interest Rate is adjusted.

  • Floating Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • Fixed Rate Certificates As specified in the Preliminary Statement.

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

  • Original Certificate Balance means $30,568,788.34.

  • Rate Adjustment Date With respect to each ARM Loan, the date on which the Note Rate adjusts.