Interest Rate Caps definition

Interest Rate Caps means the interest rate caps provided pursuant to Cap Agreements by one or more Cap Providers to the Trustee on behalf of any of the Securityholders which shall entitle the Trust to receive monthly payments equal to the product of (i) the positive difference, if any, between LIBOR in effect for each applicable Interest Accrual Period and 10.50%, (ii) the notional amount of such interest rate cap and (iii) the actual number of days in the Interest Period divided by 360.

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Interest Rate Caps means, collectively, the Class A Interest Rate ------------------ Cap and the Class B Interest Rate Cap.

Interest Rate Caps means the interest rate cap agreements, if any, including all schedules and confirmations related thereto, between the Trust and the Cap Counterparty, if any, in effect on the Closing Date (as may be amended, supplemented, replaced or otherwise modified and in effect from time to time).]

Examples of Interest Rate Caps in a sentence

• The Transferor hereby further agrees to execute all such instruments, documents and financing statements and take all such further action requested by the Trustee to evidence and perfect the assignment of the Cap Agreements and the Interest Rate Caps pursuant to this Section 3A.

• Lastly, Borrower hereby agrees and acknowledges that (a) all references in the Interest Rate Cap Agreement and Collateral Assignment of Interest Rate Caps to the “Loan Agreement” shall mean this Agreement and (b) all references in the Interest Rate Cap Agreement and Collateral Assignment of Interest Rate Cap to the “Loan” shall mean the Loan, as defined in this Agreement.

• In the event that Borrower receives Interest Rate Cap Funds (as defined in the Mortgage Loan Agreement) in accordance with Section 8.12(b) of the Mortgage Loan Agreement, Borrower shall cause such funds to be used to purchase the Closing Date Interest Rate Caps applicable to the Loan.

• The Transferor hereby further agrees to execute all such instruments, documents and financing statements and take all such further action requested by the Trustee to evidence and perfect the assignment of the Cap Agreements, the Interest Rate Caps and the Cap Proceeds Account pursuant to this Section 3A.

• The Series 2015-3 Interest Rate Caps shall extend to at least the Series 2015-3 Termination Date.

More Definitions of Interest Rate Caps

Interest Rate Caps means the interest rate cap transaction in which the Purchaser as buyer receives payments at the end of each period in which the interest rate exceeds the agreed strike rate, and "Interest Rate Cap" means any such transaction.

Interest Rate Caps means each interest rate cap agreement between the Issuer and an Interest Rate Cap Provider entered into with respect to the Class A Notes, the Class B Notes or the Class C Notes which shall have a cap of LIBOR equal to 9.0%.

Interest Rate Caps. With respect to each Mortgage Loan, provisions to the effect that (i) the Mortgage Rate shall never over the life of the Mortgage Loan exceed a rate per annum, specified in the Mortgage Note, which is not less than ___% and not greater than ___% for any Mortgage Loan, and (ii) the Mortgage Rate may not be increased or decreased by more than ___ basis points (___%) on any Adjustment Date (the amount determined by such increase or decrease being the "Periodic Mortgage Rate Cap").

Interest Rate Caps means the Initial Advance Interest Rate Cap and the Future Advance Interest Rate Caps, and “Interest Rate Cap” means any of the foregoing.

Interest Rate Caps shall have the meaning specified in Section 5.1(n)(i).

Interest Rate Caps the collective reference to the following interest rate ------------------ cap transactions: (i) the interest rate cap entered into between the Borrower and Mellon Bank, N.A. on March 28, 1994 having a notional amount of U.S.$22,500,000, effective for a two year period commencing on March 31, 1994 and providing for quarterly payments to the Borrower in the event that interest accrued on such notional amount at the London interbank offered rate ("Libor") ----- exceeds interest accrued on such notional amount at 5.375% per annum, such interest rate cap being evidenced by the Ceiling Rate Interest Credit Agreement #1, dated as of March 28, 1994, between the Borrower and Mellon Bank, (ii) the interest rate cap entered into between the Borrower and Mellon Bank, N.A. on March 28, 1994 having a notional amount of U.S.$22,500,000, effective for a two year period commencing on March 31, 1994 and providing for quarterly payments to the Borrower in the event that interest accrued on such notional amount at Libor exceeds interest accrued on such notional amount at 5.375% per annum, such interest rate cap being evidenced by the Ceiling Rate Interest Credit Agreement #2, dated as of March 28, 1994, between the Borrower and Mellon Bank, N.A., (iii) the interest rate cap entered into between the Borrower and Continental Bank N.A. on March 21, 1994 having a notional amount of U.S.$22,500,000, effective for a two year period commencing on March 25, 1994 and providing for quarterly payments to the Borrower in the event that interest accrued on such notional amount at Libor exceeds interest accrued on such notional amount at 5.4375% per annum, such interest rate cap being evidenced by the Rate Cap Transaction Agreement, dated as of March 21, 1994, between the Borrower and Continental Bank N.A., together the related Confirmation, dated as of March 21, 1994 between the Borrower and Continental Bank N.A., (iv) the interest rate cap entered into between the Borrower and Barclays Bank PLC on March 21, 1994 having a notional amount of U.S.$22,500,000, effective for a two year period commencing on March 25, 1994 and providing for quarterly payments to the Borrower in the event that interest accrued on such notional amount at Libor exceeds interest accrued on such notional amount at 5.4375% per annum, such interest rate cap being evidenced by the 1992 ISDA Master Agreement, dated as of March __, 1994, between the Borrower and Barclays Bank PLC, together the related Confirmation, date...

Interest Rate Caps shall have the meanings specified in Section 3.2(n).