Class M-1 Interest Rate definition

Class M-1 Interest Rate. With respect to any Payment Date, the least of:
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Class M-1 Interest Rate means a per annum rate of interest equal to 7.43%, calculated on the basis of a year of 360 days consisting of twelve 30-day months.
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Class M-1 Interest Rate means a floating rate per annum equal to the lesser of (a) LIBOR plus the Class M-1 Margin, and (b) the Adjusted Net WAC Cap Rate, but in no case more than 15.00% per annum.
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Examples of Class M-1 Interest Rate in a sentence

  • For its duration, the Class M-1 Interest Rate Cap pays the Trust the product of (i) the difference between the then current 1-month LIBOR rate (not to exceed the cap ceiling) and the cap strike (on an actual/360 day count basis) and (ii) the Class M-1 Interest Rate Cap Notional Balance (the "Class M-1 Interest Rate Cap Payment") as described on the schedule herein.

  • Class M-1 Certificates The Class M-1 Interest Rate Cap Payment shall Interest Rate Cap Allocation: be available to pay any Basis Risk Carry Forward Amount due to the Class M-1 Certificates.

  • Payments to CSIN: As advised separately in writing Payments to Counterparty: Wells Fargo Bank, N.A., San Francisco, CA ABA: 121-000-248 Account Number: 3970771416 Account Name: Corporate Trust Clearing FFC: 50947206, CSAB 06-2 Class M-1 Interest Rate Cap Account For the purpose of facilitating this Transaction, an Affiliate of CSIN, which is organized in the United States of America (the “Agent”), has acted as agent for CSIN.

  • The Class M-1 Interest Rate Cap Account shall be treated as an “outside reserve fund” under applicable Treasury regulations and shall not be part of any REMIC.

  • Interest on Class M-1 Adjusted Principal Balance (a) Class M-1 Adjusted Principal Balance $ 22,000,000.00 --------------- (b) Class M-1 Interest Rate 8.88% ----- (c) Class M-1 Interest Amount $ 157,373.33 --------------- (d) Unpaid Class M-1 Interest Shortfall $ 0.00 --------------- (e) Class M-1 Interest Paid $ 157,373.33 --------------- (f) Class M-1 Interest Carryover Shortfall $ 0.00 --------------- 10.

  • Class M-1 Certificates The Class M-1 Interest Rate Cap Payment shall be available to pay any Basis Risk Carry Forward Interest Rate Cap Amount due to the Class M-1 Certificates.

  • The Class A-1-B-1 Interest Rate Cap Account, the Class A-1-B-2 Interest Rate Cap Account, the Class A-1-C Interest Rate Cap Account, the Class A-2 Interest Rate Cap Account, the Class A-3-B Interest Rate Cap Account, the Class M-1 Interest Rate Cap Account, the Class M-2-B Interest Rate Cap Account or the Class M-6 Interest Rate Cap Account, respectively.

  • Funds in the Class M-1 Interest Rate Cap Account shall be held in trust in the Supplemental Interest Trust for the uses and purposes set forth in this Agreement.


More Definitions of Class M-1 Interest Rate

Class M-1 Interest Rate. With respect to any Payment Date, the lesser of (x) the sum of (1) One-Month LIBOR for such Payment Date plus (2) the Note Margin of the Class M-1 Notes applicable to such Payment Date and (y) the Available Funds Cap Rate for such Payment Date.
Sample 1
Class M-1 Interest Rate means a floating rate per annum equal to the least of (a) LIBOR plus the Class M-1 Margin, (b) the Adjusted Net WAC Cap Rate, and (c) 15.00% per annum.
Sample 1
Class M-1 Interest Rate means a per annum rate of interest equal to 8.88%, computed on the basis of a year of 360 days and twelve 30-day months.
Sample 1

Related to Class M-1 Interest Rate

  • Class M-2 Pass-Through Rate For the first Distribution Date, _____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-2 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

  • Class M-3 Pass-Through Rate For the first Distribution Date, _____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-3 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

  • Class M-4 Pass-Through Rate For the first Distribution Date, 4.790% per annum, and for any Distribution Date thereafter, the lesser of (i) One-Month LIBOR for the related Accrual Period plus the Class M-4 Margin for such Distribution Date and (ii) the Interest Rate Cap for such Distribution Date.

  • Class M-1 Pass-Through Rate For the first Distribution Date, ____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-1 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

  • Class M-1 Margin For any Distribution Date (i) on or prior to the Optional Termination Date, 0.700% per annum and (ii) thereafter, 1.050% per annum.

  • Class M-5 Pass-Through Rate For the first Distribution Date, 5.7700% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class M-5 Margin, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.

  • CLASS M PRINCIPAL BALANCE As of any Distribution Date, (a) the Class M Principal Balance for the immediately preceding Distribution Date less (b) amounts distributed to the Class M Certificateholders on such preceding Distribution Date allocable to principal (including the principal portion of Advances of the Servicer made pursuant to Section 6.03 and Realized Losses allocated to the Class M Certificates pursuant to Section 6.04); provided that the Class M Principal Balance on the first Distribution Date shall be the Original Class M Principal Balance, and provided further that if the aggregate Outstanding Certificate Principal Balance of the Class B Certificates has been reduced to zero, as of any Distribution Date, the Class M Principal Balance will equal the excess of the Mortgage Pool Principal Balance (together with the portion of any Monthly Payment due but not paid with respect to which an Advance has not been made) over the Class A Principal Balance.

  • Class M-2 Margin For any Distribution Date on or prior to the Optional Termination Date, 0.900% per annum and, for any Distribution Date after the Optional Termination Date, 1.350% per annum.

  • Class M-1 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class M-1 Pass-Through Rate on the Class M-1 Certificate Principal Balance as of such Distribution Date plus the portion of any previous distributions on such Class in respect of Current Interest or Class M-1 Interest Carry Forward Amount that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class M-1 Certificates.

  • Class M-4 Margin With respect to any Distribution Date prior to the second Distribution Date after the first possible Optional Termination Date, 0.520% per annum, and on any Distribution Date on or after the second Distribution Date after the first possible Optional Termination Date, 0.780% per annum.

  • Class M-2 Certificate Principal Balance As of any date of determination, the aggregate Certificate Principal Balance of the Class M-2 Certificates.

  • Class M-1 Certificate Principal Balance As of any date of determination, the aggregate Certificate Principal Balance of the Class M-1 Certificates.

  • Class M-3 Margin As of any Distribution Date up to and including the Initial Optional Termination Date, 0.3300% per annum and, as of any Distribution Date after the Initial Optional Termination Date, 0.4950% per annum.

  • Class A-3 Interest Rate means 1.49% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class M-1 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-1 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-1 Certificates with respect to interest on such prior Distribution Dates and (2) interest on such excess (to the extent permitted by applicable law) at the Class M-1 Pass-Through Rate for the related Accrual Period.

  • Class M-2 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class M-2 Pass-Through Rate on the Class M-2 Certificate Principal Balance as of such Distribution Date plus the portion of any previous distributions on such Class in respect of Current Interest or Class M-2 Interest Carry Forward Amount that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class M-2 Certificates.

  • Class A-1 Interest Rate means 0.75000% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Class M-1 Certificate Any one of the Class M-1 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-2b Interest Rate means LIBOR + 0.16% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Class A-2a Interest Rate means [●]% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

  • Class M Notes means any one of the Notes executed by the Owner Trustee, on behalf of the Issuer, and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A-2.

  • Class M-2 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-2 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-2 Certificates with respect to interest on such prior Distribution Dates and (2) interest on such excess (to the extent permitted by applicable law) at the Class M-2 Pass-Through Rate for the related Accrual Period.

  • Class M-1 Certificates All Certificates bearing the class designation of "Class M-1".

  • Class M-2 Certificate Any one of the Class M-2 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class A-2-A Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).