Examples of Interest Rate Cap Payment in a sentence
Any Class Interest Rate Cap Payment shall be deposited into the Series Interest Funding Account.
Unless terminated earlier, the Interest Rate Cap Agreement will terminate on the Interest Rate Cap Payment Date in June 2011 (after the payment due on such date is paid).
The Interest Rate Cap pays the Trust the difference between the then current 1-month LIBOR rate and 6.90% (on an Actual/360 day count basis) if the 1-month LIBOR rate exceeds 6.90% ("the Interest Rate Cap Payment") as described herein.
For its duration, the Class A-2 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 A-2 Interest Rate Cap Notional Balance ("the Class A-2 Interest Rate Cap Payment") as described on the schedule herein.
For its duration, the Class A-2, Class A-3 and Class A-4 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 A-2, Class A-3 and Class A-4 Interest Rate Cap Notional Balance ("the Class A-2, Class A-3 and Class A-4 Interest Rate Cap Payment") as described on the schedule herein.