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 9.25%, (ii) the notional amount of such interest rate cap and (iii) the actual number of days in the Interest Period divided by 360.

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.

• Nykredit may fix one or more Interest Rate Caps and/or Floors in the Final Bond Terms, which will be applicable for part of or the entire maturity of the Bonds.

• 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.

• Any earnings on such invested funds shall be deposited and held in the Cap Proceeds Account and applied in the same manner and priority as payments pursuant to the Interest Rate Caps.

More Definitions of Interest Rate Caps

Interest Rate Caps means interest rate cap transactions in which the Borrower 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 means interest rate cap transactions in which the Borrower 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 the Class A Interest Rate Cap and the ------------------ Class B Interest Rate Cap.]

Interest Rate Caps means the interest rate cap or caps provided pursuant to Interest Rate Cap Agreements by one or more obligors, each of which shall be acceptable to the Rating Agency and shall have a long-term unsecured debt rating of not less than AAA and a short term unsecured debt rating of A-l+ by Standard & Poor's Corporation (the "REQUISITE CAP RATING") and shall contain an arrangement for the replacement of such obligor or the substitution of alternative credit enhancement provisions (any of which shall have the Requisite Cap Ratings) in the event that such then-current interest rate cap shall be downgraded below the Requisite Cap Ratings.