Fixed Rate Asset definition
Examples of Fixed Rate Asset in a sentence
Spread to LIBOR received on Floating Rate Asset or under Swap on Fixed Rate Asset No input to verify Interest payment frequency No input to verify Next interest due date on floating rate assets No input to verify We found that the data inputs agreed to the respective support, [except for x cases/with no exception] in relation to the Covered Bond Inputs.
With respect to each Fixed Rate Asset, the Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, in each case except in the case of an ARD Loan and in situations where default interest may be imposed.
WFN Credit Company, LLC (“WFN LLC”) proposes to cause World Financial Network Credit Card Master Note Trust (the “Issuer”) to issue $500,000,000 aggregate principal amount of World Financial Network Credit Card Master Note Trust Class A Fixed Rate Asset Backed Notes, Series 2024-B (the “Notes”).
With respect to each Fixed Rate Asset, the Mortgage Loan bears interest at a rate that remains fixed throughout the remaining BUSINESS.31481140.2 term of such Mortgage Loan, in each case except in the case of an ARD Loan and in situations where default interest may be imposed.
With respect to each Fixed Rate Asset and any other Purchased Asset identified as REMIC-eligible in the related Confirmation, no Mortgage Loan that is secured by more than one Mortgaged Property or that is cross-collateralized with another Mortgage Loan permits the release of cross-collateralization of the related Mortgaged Properties other than in compliance with the REMIC Provisions.
The first shall be known as the “Series 201[●]-[●] Floating Rate Asset Backed Notes, Class A-1” and the second shall be known as the “Series 201[●]-[●] Fixed Rate Asset Backed Notes, Class A-2.”] The Series 201[●]-[●] Notes shall be due and payable on the Series 201[●]-[●] Legal Maturity Date.
With respect to each Fixed Rate Asset and any other Purchased Asset identified as REMIC eligible in the related Confirmation, no Mortgage Loan that is secured by more than one Mortgaged Property or that is cross-collateralized with another Mortgage Loan permits the release of cross-collateralization of the related Mortgaged Properties, other than in compliance with the REMIC Provisions.
Seller or the originator of such Mortgage Loan inspected or caused to be inspected each related Mortgaged Property within six (6) months of origination of the Mortgage Loan and, (i) with respect to a Fixed Rate Asset, within six (6) months of the Purchase Date or, (ii) with respect to a Floating Rate Asset, within twelve (12) months of the Purchase Date.
The first shall be known as the “Series 201[•]-[•] Floating Rate Asset Backed Notes, Class A-1” and the second shall be known as the “Series 201[•]-[•] Fixed Rate Asset Backed Notes, Class A-2.”] The Series 201[•]-[•] Notes shall be due and payable on the Series 201[•]-[•] Legal Maturity Date.
Each party hereto agrees as follows for the benefit of the other parties and for the equal and ratable benefit of the Holders of the Issuer's Fixed Rate Asset Backed Notes, Class A1 (the "Notes").