Class B Rate definition

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

Class B Rate means 3.46% per annum, computed on the basis of a 360-day year consisting of twelve 30-day months.

Class B Rate means, for any Accrual Period after the initial Accrual Period, Three-Month LIBOR, as determined on the second Business Day before the beginning of the applicable Accrual Period, plus 1.85%, based on an Actual/360 accrual method. For the initial Accrual Period, the Class B Rate shall mean the Initial Accrual Rate plus 1.85%, based on an Actual/360 accrual method.

Examples of Class B Rate in a sentence

• The Issuer shall pay interest on overdue installments of interest at the Class B Rate to the extent lawful.

• Monthly Accrued Interest" shall mean, with respect to any Distribution Date, the aggregate interest accrued for the related Interest Period on the Class B Notes at the Class B Rate on the outstanding principal amount of the Class B Notes on the immediately preceding Distribution Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Noteholders of the Class B Notes on or prior to such preceding Distribution Date.

• On each Payment Date, the amount due to Holders of the Class B Notes on account of interest equal to the product of (i) the Aggregate Outstanding Amount of the Class B Notes on the first day of the related Interest Accrual Period, (ii) the actual number of days in such Interest Accrual Period divided by 360 and (iii) the Class B Rate.

• The Issuer shall pay interest on this Note at the rate per annum equal to the Class B Rate (as defined on the reverse hereof), on each Distribution Date until the principal of this Note is paid or made available for payment, on the principal amount of this Note outstanding on the preceding Distribution Date (after giving effect to all payments of principal made on the preceding Distribution Date), subject to certain limitations contained in Section 3.1 of the Indenture.

• Monthly Accrued Interest" shall mean, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class B Notes at the Class B Rate on the outstanding principal amount of the Class B Notes on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Noteholders of the Class B Notes on or prior to such preceding Payment Date.

More Definitions of Class B Rate

Class B Rate means [ ]% per annum.

Class B Rate means [ ]% per annum. Interest with respect to the Class B Certificates shall be computed on the basis of a 360-day year consisting of twelve 30-day months for all purposes of the Basic Documents.

Class B Rate has the meaning set forth in the Sale and Servicing Agreement.

Class B Rate means, for any Accrual Period after the initial Accrual Period, One-Month LIBOR, as determined on the related LIBOR Determination Date, plus 1.50% based on an Actual/360 accrual method. For the initial Accrual Period, the Class B Rate shall mean the Initial Accrual Rate plus 1.50% based on an Actual/360 accrual method.

Class B Rate means 5.79% per annum. Interest with respect to the Class B Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months for all purposes of the Basic Documents.

Class B Rate means 2.22% per annum.

Class B Rate means 4.57% per annum.