Class Interest Rate definition

Class Interest Rate. Swap Not applicable. Interest Rate Swap Counterparty Not applicable. Swap Trust Rate Not applicable. Swap Counterparty Rate Not applicable. Monthly Swap Deposit Not applicable. [LIBOR Determination Date The second LIBOR Business Day immediately preceding the commencement of an Interest Accrual Period.] Series Yield Factor Initially zero, but may be increased pursuant to Section 25. Series Cut-Off Date , 200 . Series Closing Date , 200 . Date from which Interest for first Interest Payment Date Shall Accrue Series Closing Date. Distribution Dates The 15th day of each calendar month (or, if such day is not a Business Day, the next succeeding Business Day), commencing in 200 . Interest Payment Dates The 15th day of each calendar month (or, if such day is not a Business Day, the next succeeding Business Day), commencing in 200 . Statement Dates Each Distribution Date, commencing in 200 . Principal Payment Date Not applicable. Interest Calculation Dates Not applicable. Accumulation Commencement Date Not applicable. Accumulation Period Unless an Amortization Event shall have occurred prior thereto, the period commencing on the Principal Commencement Date and ending on the earliest to occur of (x) the payment in full of the Series Invested Amount, (y) the Amortization Commencement Date, and (z) the Series Termination Date.

Class Interest Rate means, with respect to any Class of Notes, the interest rate determined as set forth in the Terms Supplement.

Class Interest Rate means [ ]% per annum (computed on the basis of the actual number of days in each Interest Accrual Period divided by 360).

Examples of Class Interest Rate in a sentence

• Any Class Interest Rate Cap Payment shall be deposited into the Series Interest Funding Account.

• In the event that the Investor Certificates of any Class are subject to a Class Interest Rate Swap, the Trust will enter into a Class Interest Rate Swap in a form approved by the Master Servicer.

• Pursuant to the terms of the Class Interest Rate Swap, the Interest Rate Swap Counterparty shall pay to the Trust the Net Swap Receipt or the Trust shall pay to the Interest Rate Swap Counterparty the Net Swap Payment, as applicable.

• If the Class Interest Rate Swap has not been terminated and the Trust has not received any payment due from the Interest Rate Swap Counterparty on the related Interest Payment Date, the Trustee shall notify the Master Servicer of such fact prior to 1:00 p.m. Chicago time on such Interest Payment Date.

• Pursuant to the terms of the Class Interest Rate Swap, on each Distribution Date, the Interest Rate Swap Counterparty shall pay to the Trust the Net Swap Receipt or the Trust shall pay to the Interest Rate Swap Counterparty the Net Swap Payment, as applicable.

More Definitions of Class Interest Rate

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

Class Interest Rate. With respect to each Class, as specified in the Prospectus Supplement.

Class Interest Rate means, with respect to any Class, the interest rate determined as set forth in the related Terms Supplement.

Class Interest Rate. (i) With respect to any Mega Issue, the annual rate at which interest accrues on the Mega Certificates of that Issue as specified or described in the related Issue Supplement, and (ii) with respect to any Class of SMBS Certificates, the annual rate at which interest accrues on such Class of SMBS Certificates as specified or described in the related Issue Supplement.

Class Interest Rate means with respect to (i) the Class A Notes, each variable rate of interest per annum borne by the Class A-1 and Class A-2 Notes during each Interest Period and determined in accordance with the provisions of Section 2.4 and 2.5 hereof; and (ii) the Class B Notes, each variable rate of interest per annum borne by the Class B Notes during each Interest Period and determined in accordance with the provisions of Sections 2.4 and 2.5 hereof.

Class Interest Rate. With respect to a Payment Date, the Class A-1, Class A-2, Class A-3, Class B-1, Class B-2 and Class B-3 Interest Rate, as applicable.

Class Interest Rate means each variable rate of interest per annum borne by a Class of the Series 1997-1 Notes for each Class Interest Period and determined in accordance with the provisions of Sections 2.4 and 2.5 hereof; provided, however, that in the event of an Event of Default, the Class Interest Rate shall equal the Non-Payment Rate; provided, further, however that such Class Interest Rate shall in no event exceed the Class Interest Rate Limitation.