Class M Interest. Rate Cap The Class M Interest Rate Cap Payment shall be available to pay any Basis Risk Carry Forward Payment Allocation: Amount due to the Class M-1, Class M-2 and Class M-3 Certificates on a pro rata basis.
Class M Interest means an Interest in the Company that has been designated as Class M.
Class M Interest means twenty percent (20%) of the total Interests in the Company, which shall be issued to Mission 1 Management LLC (or its members or their Affiliates) in exchange for services. Class M Members shall initially mean Mission 1 Management LLC (or its Affiliates and/or members) but may include others to whom the Manager may grant or allow to purchase Class M Interests. Issuance of the Class M Units is irrevocable even if MISSION 1 MANAGEMENT LLC is removed as the Manager of the Company. Code shall mean the Internal Revenue Code of 1986, as amended from time to time. Company shall refer to Mission First Capital LLC, a Delaware limited liability company.
Examples of Class M Interest in a sentence
If any amounts remain in the Class M Interest Reserve Fund at the termination of the Trust Fund, they will be remitted to the Depositor.
The Depositor shall be the beneficial owner of the Class M Interest Reserve Fund, subject to the power of the Trustee to transfer amounts under Section 4.01.
Any losses on such investments shall be refunded to the Class M Interest Reserve Fund by the Depositor out of its own funds immediately as realized.
The Depositor will have no obligation to contribute additional amounts to the Class M Interest Reserve Fund after the Closing Date.
In the absence of such written direction, all funds in the Class M Interest Reserve Fund shall remain uninvested.
More Definitions of Class M Interest
Class M Interest. Rate The Class M Interest Rate Cap Payment shall be Cap Payment Allocation: available to pay any Basis Risk Carry Forward Amount due to the Class M-1, Class M-2 and Class M-3 Certificates on a pro rata basis. The information herein has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the information herein, or that any future offer of securities, instruments or transactions will conform to the terms hereof. Please refer to the important information and qualifications on the second page hereof when reviewing this information. --------------------------------------------------------------------------------
Class M Interest. The Class M Interest Rate Cap Payment shall be Cap Payment Allocation: available to pay any Rate Basis Risk Carry Forward Amount due to the Class M-1, Class M-2 and Class M-3 Certificates on a pro rata basis. Class B Interest Beginning on the first Distribution Date, and for a Rate Cap: period of 38 months thereafter, an Interest Rate Cap will be entered into by the Trust for the benefit of the Class B Certificates. For its duration, the Class B Interest Rate Cap pays the Trust the product of (i) the excess, if any, of the then current 1-month LIBOR rate (not to exceed the cap ceiling) over the cap strike (on an Actual/360 day count basis) and (ii) the Class B Interest Rate Cap Notional Balance ("the Class B Interest Rate Cap Payment") as described on the schedule herein.
Class M Interest. Rate Beginning on the first Distribution Date, and for a Cap: period of 43 months thereafter, an Interest Rate Cap will be pledged to the Trust for the benefit of the Class M Certificates. For its duration, the Class M 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 Interest Rate Cap Notional Balance ("the Class M Interest Rate Cap Payment") as described on the schedule herein.
Class M Interest. Rate The Class M Interest Rate Cap Payment shall be Cap Payment Allocation: available to pay any Basis Risk Carry Forward Amount due to the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates on a pro rata basis. Class B Interest Rate Beginning on the first Distribution Date, and for a Cap: period of 38 months thereafter, an Interest Rate Cap will be entered into by the Trust for the benefit of the Class B Certificates. For its duration, the Class B Interest Rate Cap pays the Trust the product of (i) the excess, if any, of the then current 1-month LIBOR rate (not to exceed the cap ceiling) over the cap strike (on an Actual/360 day count basis) and (ii) the Class B Interest Rate Cap Notional Balance ("the Class B Interest Rate Cap Payment") as described on the schedule herein.
Class M Interest has the meaning set forth in Section 2.7(a).
Class M Interest. Rate For its duration, the Class M Interest Rate Cap: Cap pays the Trust the product of (i) the excess, if any, of the then current 1-month LIBOR rate (not to exceed the cap ceiling) over the cap strike (on an Actual/360 day count basis) and (ii) the Class M Interest Rate Cap Notional Balance ("the Class M Interest Rate Cap Payment") as described on the schedule herein.
Class M Interest. Rate Cap The Class M Interest Rate Cap Payment shall Payment Allocation: be available to pay any Basis Risk Carry Forward Amount due to the Class M-1, Class M-2, M-3, Class M-4, Class M-5 and Class M-6 Certificates on a pro rata basis. -------------------------------------------------------------------------------- The information herein has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the information herein, or that any future offer of securities, instruments or transactions will conform to the terms hereof. Please refer to the important information and qualifications on the second page hereof when reviewing this information. Class B Interest Rate Cap: Beginning on the first Distribution Date, and for a period of 37 months thereafter, an Interest Rate Cap will be entered into by the Trust for the benefit of the Class B Certificates. For its duration, the Class B Interest Rate Cap pays the Trust the product of (i) the excess, if any, of the then current 1-month LIBOR rate (not to exceed the cap ceiling) over the cap strike (on an Actual/360 day count basis) and (ii) the Class B Interest Rate Cap Notional Balance ("the Class B Interest Rate Cap Payment") as described on the schedule herein.