Class C Certificate Rate definition

Class C Certificate Rate means, with respect to any Interest Accrual Period, the lesser of (i) the applicable LIBOR plus .70% per annum or (ii) the applicable Net Receivables Rate.

Class C Certificate Rate means 5.00% per annum.

Class C Certificate Rate means, for the period from the Closing Date through [______________], [____]% per annum and, for the period from [______________] through [_______________] and with respect to each Interest Period thereafter, a per annum rate equal to [___]% in excess of LIBOR, as determined on the related LIBOR Determination Date, subject to a maximum annual rate of [ ]%.

Examples of Class C Certificate Rate in a sentence

• One-month LIBOR plus 0.43% Class C Certificate Rate....................................

• Interest will accrue on the unpaid principal amount of the Class C Certificates at a per annum rate equal to the Class C Certificate Rate and will be calculated on each Business Day based on the product of the Class C Certificate Rate and the outstanding principal balance of the Class C Certificates on such Business Day.

• One-month LIBOR plus 0.38% Class C Certificate Rate....................................

• Interest for any Distribution Date will include accrued interest at the Class C Certificate Rate from and including the preceding Distribution Date or, in the case of the first Distribution Date from and including the Closing Date, to but excluding such Distribution Date.

• Interest for any Distribution Date due but not paid on any Distribution Date will be due on the next succeeding Distribution Date together with, to the extent permitted by applicable law, additional interest on such amount at the Class C Certificate Rate.

More Definitions of Class C Certificate Rate

Class C Certificate Rate means, for an Interest Period and the Distribution Date immediately following such Interest Period, a rate per annum equal to the lesser of (i) LIBOR plus one hundred basis points (1.0%) per annum and (ii) the related Net Receivables Rate.

Class C Certificate Rate means the rate specified in the Class C Reserve Account Agreement.

Class C Certificate Rate means 0% per annum; PROVIDED, HOWEVER, that such rate may be increased pursuant to the terms of a supplemental agreement entered into in accordance with subsection 6.17(c) of the Agreement.

Class C Certificate Rate means the lesser of (1) one-month LIBOR determined as of the second London Banking Day prior to the related Interest Accrual Period (or, in the case of the first Distribution Date, based on ____________ LIBOR determined as of _________, 2000 for the period from __________, 2000 up to but excluding ___________, 2000) plus _____% per annum or (2) the Maximum Rate, calculated on the basis of the actual number of days in the related Interest Accrual Period and a 360-day year.

Class C Certificate Rate with respect to any Interest Period shall have the meaning specified in the Class C Purchase Agreement; provided that the Class C Certificate Rate shall in no event exceed a per annum rate equal to LIBOR as of the LIBOR Determination Date for such Interest Period plus 4.00%.

Class C Certificate Rate means, with respect to any Distribution Date, one-twelfth of (x) the REMIC II Remittance Rate minus (y) 0.06%.

Class C Certificate Rate means 0%.