Class M-3 Pass-Through Rate definition

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-3 Pass-Through Rate. For each Distribution Date, the lesser of (a) One-Month LIBOR as of the related LIBOR Determination Date, plus the Class M-3 Certificate Margin and (b) the Pool Maximum Rate Cap.

Class M-3 Pass-Through Rate means (i) with respect to each Distribution Date which occurs on or prior to the Optional Termination Date, 6.700% per annum and (ii) with respect to each Distribution Date which occurs thereafter, 7.200% per annum, in each case subject to a cap equal to the Net WAC Rate Cap for such Distribution Date.

Examples of Class M-3 Pass-Through Rate in a sentence

• Interest will accrue on the Class M-3 Certificates during each Interest Accrual Period at the Class M-3 Pass-Through Rate.

• The Class M-3 Pass-Through Rate on each Distribution Date will be a rate per annum equal to the lesser of (i) the sum of one month LIBOR plus the Class M-3 Certificate Margin and (ii) the Rate Cap for such Distribution Date.

• Xxxx’s depiction of Xxxxxxxxx’s plight evokes pity in the readers.

• The Class M-3 Pass-Through Rate for the first Interest Accrual Period will be for the first Interest Accrual Period, ____% per annum.

• Interest will accrue on the Class M-3 Certificates during each Interest Accrual Period at a rate equal to the lesser of: (i) the Class M-3 Pass-Through Rate and (ii) the Pool Cap for such Distribution Date.

More Definitions of Class M-3 Pass-Through Rate

Class M-3 Pass-Through Rate means (i) with respect to each Distribution Date which occurs on or prior to the Optional Termination Date, 5.850% per annum and (ii) with respect to each Distribution Date which occurs thereafter, 6.350% per annum, in each case subject to a cap equal to the Net WAC Rate Cap for such Distribution Date.

Class M-3 Pass-Through Rate. With respect to each Distribution Date, the least of:

Class M-3 Pass-Through Rate. For any Distribution Date on or prior to the Optional Termination Date, 5.500% per annum and for any Distribution Date thereafter, 6.000% per annum, in each case subject to the related Interest Rate Cap for such Distribution Date.

Class M-3 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, One-Month LIBOR plus 1.40% per annum and (ii) for each Distribution Date thereafter, One-Month LIBOR plus 2.10% per annum, in each case subject to a cap equal to the related Net WAC Rate Cap for such Distribution Date; for federal income tax purposes, however, the equivalent of the foregoing, stated as the weighted average of the Uncertificated REMIC II Pass-Through Rate for REMIC II Regular Interest M-3, weighted on the basis of the Uncertificated Principal Balance thereof immediately prior to such Distribution Date.

Class M-3 Pass-Through Rate means the lesser of (i)(a) with respect to each Distribution Date which occurs on or prior to the Optional Termination Date, 6.000% per annum and (b) with respect to each Distribution Date which occurs thereafter, 6.500% per annum and (ii) the applicable Net WAC Pass-Through Rate for such Distribution Date.

Class M-3 Pass-Through Rate. With respect to any Interest Accrual Period thereafter, will be a per annum rate equal to the lesser of (i) the sum of LIBOR plus the related Certificate Margin and (ii) the Subordinate Net Funds Cap.

Class M-3 Pass-Through Rate. For each Distribution Date, the lesser of (i) the Class M-3 Fixed Rate Certificate Margin and (ii) the related Rate Cap for such Distribution Date.