Class M-2 Certificate Rate definition
Class M-2 Certificate Rate. With respect to any Distribution Date and the Class M-2 Certificates, the lesser of (A) the sum of (1) LIBOR and (2) 0.320% per annum (or 0.480% per annum for each Interest Period occurring after the Clean-Up Call Date) and (B) the Net WAC Cap for the Distribution Date.
Class M-2 Certificate Rate. For the first Distribution Date, 5.870% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class M-2 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-2 Certificate Rate means, with respect to any Interest Period, a fixed per annum rate equal to 6.56%.
More Definitions of Class M-2 Certificate Rate
Class M-2 Certificate Rate. With respect to any Distribution Date and the Class M-2 Certificates, the lesser of (A) ____% per annum (or ____% per annum for each Interest Period occurring after the Clean-Up Call Date) and (B) the Fixed Rate Interest Rate Cap for the Distribution Date.
Class M-2 Certificate Rate means with respect to any Distribution Date and the [Class M-2] Certificates, the lesser of (A) [___]% per annum (or [___]% per annum for each Interest Period occurring after the Master Servicer first fails to exercise its clean-up call option) and (B) the Net WAC Cap for the Distribution Date.]