Class M Interest Rate definition

Class M Interest Rate. Cap: Beginning on the first Distribution Date, and for a 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.
View Source
Class M Interest Rate. Cap The Class M Interest Rate Cap Payment shall be 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.
View Source
Class M Interest Rate means a per annum rate of interest equal to one month LIBOR plus 0.420%, but in no case more than 9.96%, calculated on the basis of the actual number of days elapsed and a year of 360 days.
View Source

Examples of Class M Interest Rate in a sentence

  • For its duration, the Class M 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 M Interest Rate Cap Notional Balance ("the Class M Interest Rate Cap Payment") as described on the schedule herein.

  • 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 The Class M Interest Rate Cap Payment shall be Rate Cap Payment available to pay any Basis Risk Carry Forward Amount Allocation: due to the Class M-1, Class M-2 and Class M-3 Certificates on a pro rata basis.

  • Class M Interest Rate Cap: Beginning on the first Distribution Date, and for a period of 43 months thereafter, an Interest Rate Cap will be entered into by the Trust for the benefit of the Class M Certificates.


More Definitions of Class M Interest Rate

Class M Interest Rate. Cap The Class M Interest Rate Cap Payment shall be 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 last page hereof when reviewing this information. -------------------------------------------------------------------------------- Page 8 Class B Interest Rate Cap: Beginning on the first Distribution Date, and for a 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.
View Source
Class M Interest Rate means 0.39% per annum in excess of LIBOR as determined on the related LIBOR Determination Date.
View Source
Class M Interest Rate means 7.51% per annum (computed on the basis of a 360-day year of twelve 30-day months).
View Source

Related to Class M Interest Rate

  • Class M-2 Pass-Through Rate For the first Distribution Date, 5.6800% 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-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, ____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-4 Margin and (2) the Weighted Average Available Funds 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 As of any Distribution Date up to and including the Initial Optional Termination Date, 0.300% per annum and, as of any Distribution Date after the Initial Optional Termination Date, 0.450% per annum.