Net Receivables Rate definition

Net Receivables Rate means, for any Distribution Date, the sum of (i) the weighted average of the interest rates borne by the Receivables during the second preceding Monthly Period (because interest payments on the Receivables at such rates will be due and payable in the Monthly Period preceding such Distribution Date), plus (ii) the product of (x) the Monthly Payment Rate for the Monthly Period preceding such Distribution Date, the (y) Discount Factor, if any, for such Distribution Date, and (z) twelve, less 2% per annum, unless the Servicing Fee has been waived for such Monthly Period.

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Net Receivables Rate means, for any Adjustment Date, (a) the weighted average interest rates borne by the Receivables included in the Pool for the preceding Collection Period minus (b) 2%, if BCI is the Servicer or, if BCI is not the Servicer, 3%.

Net Receivables Rate. With respect to any Collection Period, a rate equal to the product of:

Examples of Net Receivables Rate in a sentence

Each Class B Certificate represents the right to receive the lesser of (i) interest at the rate of ____% per annum above LIBOR determined on __________, 200_ for the period from __________, 200_ to but excluding __________, 200_, and at a rate equal to ____% per annum above LIBOR determined on the related LIBOR Determination Date for each Interest Accrual Period thereafter or (ii) the applicable Net Receivables Rate (such rate, as in effect from time to time, the "Class B Certificate Rate").
Each Class A Certificate represents the right to receive the lesser of (i) interest at the rate of ____% per annum above LIBOR determined on __________, 200_ for the period from __________, 200_ up to but excluding __________, 200_, and at a rate equal to ____% per annum above LIBOR determined on the related LIBOR Determination Date for each Interest Accrual Period thereafter or (ii) the applicable Net Receivables Rate, (such rate, as in effect from time to time, the "Class A Certificate Rate").
Each Class C Certificate represents the right to receive the lesser of (i) interest at the rate of ____% per annum above LIBOR determined on __________, 200_ for the period from __________ 200_ up to but excluding __________, 200_, and at a rate equal to ____% per annum above LIBOR determined on the related LIBOR Determination Date for each Interest Accrual Period thereafter or (ii) the applicable Net Receivables Rate (such rate, as in effect from time to time, the "Class C Certificate Rate").
Each Class D Certificate represents the right to receive the lesser of (i) interest at the rate of ____% per annum above LIBOR determined on __________, 200_ for the period from __________, 200_ up to but excluding __________, 200_, and at a rate equal to ____% per annum above LIBOR determined on the related LIBOR Determination Date for each Interest Accrual Period thereafter or (ii) the applicable Net Receivables Rate (such rate, as in effect from time to time, the "Class D Certificate Rate").

More Definitions of Net Receivables Rate

Net Receivables Rate means, with respect to each Distribution Date immediately following an Interest Period, (i) the weighted average of the interest rates borne by the Receivables during the second Collection Period preceding such Distribution Date (interest payments on the Receivables at such rates being due and payable in the Collection Period preceding such Distribution Date) plus (ii) the product of (x) the Monthly Payment Rate for the Collection Period preceding such Distribution Date, (y) the Discount Factor for such Distribution Date and (z) twelve less (iii) 2% per annum, unless the Monthly Servicing Fee has been waived (other than a deemed waiver under Section 3.1) for such Distribution Date, in which case, solely for that Distribution Date, "2% per annum" will be deemed to be replaced by "0% per annum".

Net Receivables Rate means, for any Distribution Date, the sum of (i) the -------------------- weighted average of the interest rates borne by the Receivables during the second preceding Monthly Period (because interest payments on the Receivables at such rates will be due and payable in the Monthly Period preceding such Distribution Date), plus (ii) the product of (x) the Monthly Payment Rate for the Monthly Period preceding such Distribution Date, the (y) Discount Factor, if any, for such Distribution Date, and (z) twelve, less 2% per annum, unless the Servicing Fee has been waived for such Monthly Period.

Net Receivables Rate means, with respect to a Distribution Date and unless otherwise specified for a Series in the related Supplement, (i) the weighted average of the interest rates borne by the Receivables during the second preceding Collection Period (interest payments on the Receivables at such rates being due and payable in the Collection Period preceding such Distribution Date) plus (ii) the product of (x) the Monthly Payment Rate for the Collection Period preceding such Distribution Date, (y) the Discount Factor for such Distribution Date and (z) twelve less (iii) 2% per annum, unless the Servicing Fee has been waived for such Collection Period.

Net Receivables Rate means, with respect to a Distribution Date and unless otherwise specified for a Series in the related Supplement, (i) the weighted average of the interest rates borne by the Receivables during the second Collection Period preceding such Distribution Date (interest payments on the Receivables at such rates being due and payable in the Collection Period preceding such Distribution Date) plus (ii) the product of (x) the Monthly Payment Rate for the Collection Period preceding such Distribution Date, (y) the Discount Factor for such Distribution Date and (z) twelve less (iii) 2% per annum.

Net Receivables Rate means, with respect to a Payment Date and unless otherwise specified for a Series in the related Supplement, (i) the weighted average of the interest rates borne by the Receivables during the second Collection Period preceding such Payment Date (interest payments on the Receivables at such rates being due and payable in the Collection Period preceding such Payment Date) plus (ii) the product of (x) the Monthly Payment Rate for the Collection Period preceding such Payment Date, (y) the Discount Factor for such Payment Date and (z) twelve less (iii) 2% per annum unless the Monthly Servicing Fee has been waived (other than a deemed waiver) pursuant to each Supplement, in which case solely, for that Payment Date, "2% per annum" will be deemed to be replaced by "0% per annum".

Net Receivables Rate means, with respect to each Distribution Date immediately following an Interest Period, (i) the weighted average of the interest rates borne by the Receivables during the second Collection Period preceding such Distribution Date (interest payments on the Receivables at such rates being due and payable in the Collection Period preceding such Distribution Date) plus (ii) the product of (x) the Monthly Payment Rate for the Collection Period preceding such Distribution Date, (y) the Discount Factor for such Distribution Date and (z) twelve less (iii) 2% per annum, unless the Servicing Fee has been waived for such Collection Period.

Net Receivables Rate means, for any Distribution Date, the sum of (i) the weighted average of the interest rates borne by the Receivables during the second preceding Monthly Period (because interest payments on the Receivables at such rates will be due and payable in the Monthly Period preceding such Distribution Date), plus (ii) the product of (x) the Monthly Payment Rate for the Monthly Period preceding such Distribution Date, the (y) Discount Factor, if any, for such Distribution Date, and (z) twelve, less 1% per annum if Conseco Finance Corp. or an affiliate is the Servicer, or 2% per annum if Conseco Finance Corp. or an affiliate is not the Servicer, unless the Servicing Fee has been waived for such Monthly Period.