Net Component Rate definition

Net Component Rate. With respect to any Trust Loan Component and any Distribution Date, a rate per annum equal to the Interest Rate in respect of such Trust Loan Component for the related Mortgage Loan Interest Accrual Period minus the Administrative Fee Rate; provided, that for purposes of calculating Pass-Through Rates, each Net Component Rate will be determined without regard to (i) any modification, waiver or amendment of the terms of the Mortgage Loan, whether agreed to by the Servicer or the Special Servicer or resulting from a bankruptcy, insolvency or similar proceeding involving the Borrowers or otherwise, (ii) any increase in any Interest Rate as a result of a Mortgage Loan Event of Default or (iii) any Property becoming a Foreclosed Property.
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Net Component Rate shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.
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Related to Net Component Rate

  • Term SOFR Reference Rate means the forward-looking term rate based on SOFR.

  • SOFR Rate means the rate that will be calculated by the Calculation Agent for each Accrual Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except as provided below following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

  • Alternate Rate means, for any day, the sum of (a) a rate per annum selected by the Administrative Agent, in its reasonable discretion based on market conditions in consultation with the Company (and any applicable Subsidiary Borrower) and the relevant Lenders, plus (b) the Applicable Margin for Eurocurrency Loans. When used in reference to any Loan, “Alternate Rate” refers to whether such Loan is bearing interest at a rate determined by reference to the Alternate Rate.