Maximum Interest Rate definition

Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

Maximum Interest Rate has the meaning specified in Section 311.

Maximum Interest Rate means the maximum non-usurious rate of interest under applicable Federal or State law as in effect from time to time that may be contracted for, taken, reserved, charged or received in respect of the indebtedness of a Borrower to Agent or a Lender, or to the extent that at any time such applicable law may thereafter permit a higher maximum non-usurious rate of interest, then such higher rate.

Examples of Maximum Interest Rate in a sentence

• If specified on the face hereof, this Note may have either or both of a Maximum Interest Rate or a Minimum Interest Rate.

• If a Maximum Interest Rate is so designated, the interest rate for a Floating Rate Note cannot ever exceed such Maximum Interest Rate and in the event that the interest rate on any Interest Reset Date would exceed such Maximum Interest Rate (as if no Maximum Interest Rate were in effect) then the interest rate on such Interest Reset Date shall be the Maximum Interest Rate.

• Neither this Note nor any of the other Loan Documents shall be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate greater than the Maximum Interest Rate.

• Neither this Note nor any of the other Loan Documents will be construed to create a contract for the use, forbearance, or detention of money requiring payment of interest at a rate greater than the Maximum Interest Rate.

• If the Adjustable Interest Rate at any time exceeds the Maximum Interest Rate, resulting in the charging of interest hereunder to be limited to the Maximum Interest Rate, then any subsequent reduction in the Adjustable Interest Rate shall not reduce the rate at which interest under this Note accrues below the Maximum Interest Rate until the total amount of interest accrued hereunder equals the amount of interest which would have accrued had the Adjustable Interest Rate at all times been in effect.

More Definitions of Maximum Interest Rate

Maximum Interest Rate. With respect to any Distribution Date, an annual rate equal to: (i) in the case of the Class 1-A Certificates, for each Distribution Date on or before the Distribution Date on which the aggregate Class Principal Amount of the Class 2-Al and Class 2-A2 Certificates have been reduced to zero, an annual rate that would equal the Pool 1 Net Funds Cap for such Distribution Date if the Pool 1 Optimal Interest Remittance Amount were computed by reference to the weighted average of the excess of the maximum “lifetime” Mortgage Rates specified in the related Mortgage Notes for the Pool 1 Mortgage Loans over the Aggregate Expense Rate; (ii) in the ease of the Class 2-Al and Class 2-A2 Certificates, for each Distribution Date on or before the Distribution Date on which the aggregate Class Principal Amount of the Class 1-A Certificates have been reduced to zero, an annual rate that would equal the Pool 2 Net Fund Cap for such Distribution Date if the Pool 2 Optimal Remittance Interest Amount were computed by reference to the weighted average of the excess of the maximum “lifetime” Mortgage Rates specified in the related Mortgage Notes for the Pool 2 Mortgage Loans over the Aggregate Expense Rate and (iii) in the case of (A) the Class M1, Class M2, Class M3, Class M4, Class M5 and Class B Certificates, (B) the Class 1-A Certificates for each Distribution Date after the Distribution Date on which the aggregate Class Principal Amount of the Class 2-Al and Class 2-A2 Certificates have been reduced to zero, and (C) the Class 2-Al and Class 2-A2 Certificates for each Distribution Date after the Distribution Date on which the aggregate Class Principal Amount of the Class 1-A Certificates have been reduced to zero, an annual rate that would equal the Subordinate Net Funds Cap for such Distribution Date if the (x) Pool 1 Optimal Interest Remittance Amount were computed by reference to the weighted average of the excess of the maximum “lifetime” Mortgage Rates specified in the related Mortgage Notes for the Pool 1 Mortgage Loans over the Aggregate Expense Rate and (y) the Pool 2 Optimal Interest Remittance Amount were computed by reference to the weighted average of the excess of the maximum “lifetime” Mortgage Rates specified in the related Mortgage Notes for the Pool 2 Mortgage Loans over the Aggregate Expense Rate.

Maximum Interest Rate. The Pool 1 Maximum Interest Rate, the Pool 2 Maximum Interest Rate or the Subordinate Maximum Interest Rate, as applicable.

Maximum Interest Rate means the maximum rate of interest on the relevant obligation permitted by applicable law.

Maximum Interest Rate. With respect to the LIBOR Certificates and any Distribution Date, an annual rate equal to the weighted average of the Maximum Mortgage Rates of the Mortgage Loans in Loan Group IV minus the Expense Fee Rate.

Maximum Interest Rate means, in relation to a Series of Securities, if applicable, such rate as is specified as the Maximum Interest Rate in the Issue Terms.

Maximum Interest Rate means the lesser of (i) 25% and (ii) the maximum rate of interest on the relevant obligation permitted by applicable law.

Maximum Interest Rate shall have the meaning specified in Section 3.13.