Lease Rate Cap definition

Lease Rate Cap means, with respect to any Series of Investor Notes, the interest rate caps that are required to be maintained by the Issuer pursuant to the related Indenture Supplement.
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Lease Rate Cap shall have the meaning given such term in Section 3.2.
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Examples of Lease Rate Cap in a sentence

  • Upon the receipt of funds from the Indenture Trustee on each Payment Date on account of Lease Rate Cap Costs, the Administrative Agent shall pay to each Funding Agent with respect to a Purchaser an amount equal to the Lease Rate Cap Costs payable to such Purchaser.

  • The Issuer hereby agrees to provide to the Indenture Trustee and each provider of the Series 2003-2 Required Lease Rate Cap, on each Determination Date, a Monthly Settlement Statement, substantially in the form of Exhibit B, setting forth as of the last day of the most recent Monthly Period and for such Monthly Period the information set forth therein.

  • Upon the receipt of funds from the Indenture Trustee on each Payment Date on account of Lease Rate Cap Costs, the Administrative Agent shall pay to each Non-Conduit Purchaser and each Funding Agent with respect to a CP Conduit Purchaser an amount equal to the Lease Rate Cap Costs payable to such Non-Conduit Purchaser or CP Conduit Purchaser.

  • If the amount deposited in the Series 2010-1 Distribution Account on any Payment Date pursuant to Section 5A.4(c)(xv) is less than the Lease Rate Cap Costs on such Payment Date, the Administrative Agent shall pay the amount available to the Non-Conduit Purchasers and the Funding Agents, on behalf of the CP Conduit Purchasers, on a pro rata basis, based on the Lease Rate Cap Costs payable to each Non-Conduit Purchaser or CP Conduit Purchaser.

  • If the amount deposited in the Series 2006-2 Distribution Account on any Payment Date pursuant to Section 5A.4(c)(xiii) is less than the Lease Rate Cap Costs on such Payment Date, the Administrative Agent shall pay the amount available to the Funding Agents, on behalf of the Purchasers, on a pro rata basis, based on the Lease Rate Cap Costs payable to each Purchaser.

  • The Issuer hereby agrees to provide to the Indenture Trustee and each provider of the Series 2002-1 Required Lease Rate Cap, on each Determination Date, a Monthly Settlement Statement, substantially in the form of Exhibit B, setting forth as of the last day of the most recent Monthly Period and for such Monthly Period the information set forth therein.

  • On the first day of the first Calculation Period on which there are any New Fixed Rate Leases, the Counterparty agrees to pay to JPMorgan Chase an amount, to be determined by JPMorgan Chase on a reasonably commercial basis, equal to the premium that would have been payable by the Counterparty to obtain a Notional Lease Rate Cap with respect to each such New Fixed Rate Lease on the date that is two Business Days prior to such first day.

  • The Issuer hereby agrees to provide to the Indenture Trustee and each provider of the Series 2001-1 Required Lease Rate Cap, on each Determination Date, a Monthly Settlement Statement, substantially in the form of Exhibit B, setting forth as of the last day of the most recent Monthly Period and for such Monthly Period the information set forth therein.

  • In the alternative, the Administrative Agent, at the expense of the Issuer, acting at the direction of the Series 2006-2 Required Investor Noteholders, may obtain on commercially reasonable terms any Hedging Instrument that the Administrative Agent reasonably determines will cover the interest rate exposure that would have been covered by the Lease Rate Cap that the Issuer shall have failed to obtain or maintain hereunder.

  • The Issuer hereby agrees to provide to the Indenture Trustee and each provider of the Series 2003-1 Required Lease Rate Cap, on each Determination Date, a Monthly Settlement Statement, substantially in the form of Exhibit B, setting forth as of the last day of the most recent Monthly Period and for such Monthly Period the information set forth therein.

Related to Lease Rate Cap

  • Lease Rate means for each 2022-1 Lease, the rent charge portion of each Monthly Payment, calculated on a constant yield basis at an imputed interest rate.

  • Interest Rate Cap means the establishment of an upper limit for a variable interest rate.

  • Base Rate Revolving Loan means a Revolving Loan that is a Base Rate Loan.

  • Net Rate Cap With respect to any Distribution Date and the Class A Certificates and Class M Certificates, a per annum rate equal to the lesser of (x) 11.00% per annum and (y) the weighted average of the Net Mortgage Rates on the then outstanding Mortgage Loans, weighted based on the Stated Principal Balances of such Mortgage Loans as of the related Due Date prior to giving effect to any reduction in the Stated Principal Balances of such Mortgage Loans on such Due Date; provided, however, for federal income tax purposes, a rate equivalent to the foregoing, expressed as the lesser of (x) 11.00% per annum and (y) the weighted average of the Uncertificated REMIC I Pass-Through Rates on the REMIC I Regular Interests, weighted on the basis of the Uncertificated Principal Balances of each such REMIC I Regular Interest immediately prior to such Distribution Date. The Net Rate Cap for the Class A Certificates and Class M Certificates will be adjusted to an effective rate reflecting the accrual of interest on an actual/360 basis. With respect to any Distribution Date and the Class B Certificates, a per annum rate equal to the weighted average of the Net Mortgage Rates on the then outstanding Mortgage Loans, weighted based on the Stated Principal Balances of such Mortgage Loans as of the related Due Date prior to giving effect to any reduction in the Stated Principal Balances of such Mortgage Loans on such Due Date; provided, however, for federal income tax purposes, a rate equivalent to the foregoing, expressed as the weighted average of the Uncertificated REMIC I Pass-Through Rates on the REMIC I Regular Interests, weighted on the basis of the Uncertificated Principal Balances of each such REMIC I Regular Interest immediately prior to such Distribution Date.

  • Base Rate Term Loan means a Term Loan that is a Base Rate Loan.