Net Contract Rate definition

Net Contract Rate means, with respect to any Contract, its Contract Rate less the sum of the Servicing Fee Percent and the Retained Yield Percent.
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Net Contract Rate. With respect to any (i) Group I Contract, the rate of ----------------- interest per annum borne by such Contract minus the Annual Servicing Rate and (ii) to any Group II Contract and the first seven Distribution Dates, the rate of interest per annum borne by such Contract on the first day of the related Collection Period minus the Annual Servicing Rate and for each Distribution Date thereafter, the rate of interest per annum borne by such Contract on the first day of the related Collection Period minus the sum of (a) the Annual Servicing Rate and (b) 0.50%.
Sample 1
Net Contract Rate. With respect to the Group I Contracts, 9.923% and ----------------- with respect to the Group II Contracts, 9.576%.
Sample 1

Examples of Net Contract Rate in a sentence

  • If the condition referred to in (A) is met, but the condition referred to in (B) above is not met, the Auction Rate applicable for the next Auction Period will be the lesser of the Maximum Auction Rate and the Net Contract Rate, but in no event greater than 18.00%, and the length of the Auction Period will remain the same.

  • For any Payment Date prior to a Conversion, if the Net Contract Rate is greater than the Auction Rate, the Class A-2 Note Rate will be the Auction Rate.

  • If the Auction Rate and the Net Contract Rate are both greater than 18.00% per annum, the Class A-2 Note Rate will be equal to 18.00% per annum.

  • Promptly after each Rate Determination Date, the Servicer shall report the applicable Net Contract Rate to the Auction Agent and the Indenture Trustee.

  • The Class A-2 Note Rate for the Payment Date will be the least of (a) the Auction Rate, (b) the Net Contract Rate and (c) the maximum cap rate of 18.00% per annum.

  • For any Payment Date prior to a Conversion, if the Net Contract Rate is less than the Auction Rate, the Class A-2 Note Rate will be the Net Contract Rate.

  • The percentage (by outstanding principal balance as of the Cut-Off Date) of the Contracts having a Net Contract Rate that is less than the Class B-1 Pass-Through Rate is approximately 44.41%.

  • The percentage (by outstanding principal balance as of the Cut-Off Date) of the Group I Contracts having a Net Contract Rate that is less than the Class I B-2 Pass- Through Rate is approximately 19.65%.

  • The Net Contract Rate on any Contract is equal to the then applicable Contract Rate thereon, minus the Expense Fee Rate, which is equal to the servicing fee rate.

  • The percentage (by outstanding principal balance as of the Cut-Off Date) of the Initial Contracts having a Net Contract Rate that is less than the Class M- 1A Pass-Through Rate is approximately 16%.


More Definitions of Net Contract Rate

Net Contract Rate. As to each Contract, and at any time, the per annum rate equal to the Contract Rate less the related Expense Fee Rate.
Sample 1Sample 2
Net Contract Rate. The rate of interest per annum borne by a Contract minus the Annual Servicing Rate.
Sample 1Sample 2
Net Contract Rate means, for any Payment Date, (i) the weighted average of the contract rates (weighted on the basis of the principal balance of the contracts as of the first day of the related due period) minus (ii) the servicing fee, indenture trustee fee, Auction Agent Fee, Broker-Dealer Fee, Calculation Agent Fee, Note Insurer's premium and Net Swap Payment payable to the Swap Provider plus any Net Swap Payments payable to the Issuing Entity in respect of such Payment Date, each expressed as a per annum percentage of the Pool Principal Balance for the immediately preceding Payment Date, multiplied by a fraction the numerator of which is the Pool Principal Balance for the immediately preceding Payment Date and the denominator of which is the sum of the aggregate note balance of the Class A Notes as of the day immediately prior to that Payment Date.
Sample 1
Net Contract Rate. Means, for any Payment Date, a per annum rate equal to (x)
Sample 1

Related to Net Contract Rate

  • Contract Rate means, with respect to a Receivable, the rate per annum at which interest accrues under the Contract evidencing such Receivable. Such rate may be less than the “Annual Percentage Rate” disclosed in the Receivable.

  • Wage Rate refers to an Employee’s hourly rate of pay reflected by the pay grade of her position and her step within that grade, as set out in the Wage Rate grid in Appendix II.

  • Contract Interest Rate means the lesser of (a) the highest rate permitted under Requirements of Law or (b) 200 basis points per annum plus the rate per annum equal to the publicly announced prime rate or reference rate for commercial loans to large businesses in effect from time to time quoted by Citibank, N.A. as its “prime rate.” If a Citibank, N.A. prime rate is not available, the applicable prime rate will be the announced prime rate or reference rate for commercial loans in effect from time to time quoted by a bank with $10 billion or more in assets in New York City, N.Y., selected by the Party to whom interest is being paid.

  • Overdue Interest Rate means, with respect to any Class, the Interest Rate applicable to such Class.

  • Heat Rate means the quantity of BTU’s consumed to produce a kilowatt-hour of energy, calculated as follows:

  • Minimum Mortgage Rate With respect to each Adjustable-Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the minimum Mortgage Rate thereunder.

  • Maximum Mortgage Rate With respect to each Adjustable Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Mortgage Rate thereunder.

  • Overdraft Rate means the per annum rate of interest, regardless of compounding frequency, designated by the Financial Institution as its “Overdraft Rate” from time to time.

  • Maximum Net Mortgage Rate With respect to any adjustable rate Mortgage Loan and any date of determination, the Maximum Mortgage Rate minus the sum of (i) the Subservicing Fee Rate and (ii) the Servicing Fee Rate. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.

  • Maximum Lifetime Mortgage Rate The maximum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Discount Net Mortgage Rate As defined in the Series Supplement.

  • Net Loan Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the then applicable Loan Rate for such Mortgage Loan minus the related Servicing Fee Rate and the Master Servicing Fee Rate.

  • Deactivation Avoidable Cost Rate means the formula rate established pursuant to Tariff, Part V, section 115 of this Tariff.

  • Mortgage Rate The annual rate of interest borne by a Mortgage Note from time to time.

  • Net Mortgage Rate With respect to any Mortgage Loan (or the related REO Property) as of any date of determination, a per annum rate of interest equal to the then applicable Mortgage Rate for such Mortgage Loan minus the Servicing Fee Rate.

  • FX Rate means the “noon exchange rate” as reported by the Bank of Canada on any relevant date or if applicable, the rate calculated by the Calculation Agent, between the Canadian dollar and the foreign currencies into which some Reference Shares are denominated, expressed as the amount of Canadian dollars per one unit of foreign currency.

  • Prevailing wage rate means the rate, amount, or level of wages, salaries, benefits, and other

  • Minimum Lifetime Mortgage Rate The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

  • Adjusted Net Mortgage Rate As to each Mortgage Loan and at any time, the per annum rate equal to the Mortgage Rate less the Expense Fee Rate.

  • Rate means the Adjusted LIBO Rate and the Alternate Base Rate.

  • Loan Rate for any Mortgage Loan and on any day means the per annum rate of interest applicable under the related Credit Line Agreement to the calculation of interest for the day on the Asset Balance of the Mortgage Loan.

  • APR means, with respect to any Receivable, the annual percentage rate of interest stated in such Receivable.

  • Indirect Cost Rate means a device for determining in a reasonable manner the proportion of indirect costs each Program should bear. It is a ratio (expressed as a percentage) of the Indirect Costs to a Direct Cost base. If reimbursement of Indirect Costs is allowable under an Award, Grantor will not reimburse those Indirect Costs unless Grantee has established an Indirect Cost Rate covering the applicable activities and period of time, unless Indirect Costs are reimbursed at a fixed rate.

  • Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.

  • Maximum Loan Rate With respect to each Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Loan Rate thereunder.