Post-ARD Additional Interest Rate. With respect to any ARD Mortgage Loan after its Anticipated Repayment Date, the incremental increase in the Mortgage Rate for such ARD Mortgage Loan resulting from the passage of such Anticipated Repayment Date.

Post-ARD Additional Interest Rate means, for a Class of Notes, an annual rate determined by the Transaction Manager to be the greater of (i) [***]%; and (ii) the amount, if any, by which the sum of the following exceeds the related Note Rate: (A) the yield to maturity (adjusted to a “mortgage equivalent basis” pursuant to the standards and practices of the Securities Industry and Financial Markets Association) on the Anticipated Repayment Date of the United States Treasury Security having a term closest to ten (10) years, plus (B) [***]%, plus (C) the related Post-ARD Spread.

Post-ARD Additional Interest Rate shall have the meaning ascribed to it in Section 2.01(a)(ii) hereof.

Examples of Post-ARD Additional Interest Rate in a sentence

The Servicer shall provide written notice to the Indenture Trustee of the Post-ARD Additional Interest Rate.
In no event shall the Indenture Trustee be obligated to recalculate or verify the Post-ARD Additional Interest Rate.
The Manager shall provide written notice to the Indenture Trustee of the Post-ARD Additional Interest Rate.
On any Payment Date on or after the Anticipated Repayment Date of any applicable Class of Notes, the interest accrued at the applicable Post-ARD Additional Interest Rate from and after such Payment Date on the Outstanding Principal Balance of such Class determined prior to giving effect to any payments of principal on such Payment Date.
In addition, under the circumstances set forth in the Indenture, the Co-Issuers shall also pay additional interest on this Note at the Series 2024-1 Quarterly Post-ARD Additional Interest Rate, and such additional interest shall be computed and shall be payable in the amounts and at the times set forth in the Indenture.

More Definitions of Post-ARD Additional Interest Rate

Post-ARD Additional Interest Rate shall have the meaning ascribed to it in Section 2.10.

Post-ARD Additional Interest Rate. With respect to any applicable Class of Notes, the note interest rate specified in the applicable Series Supplement.

Post-ARD Additional Interest Rate. With respect to the Series 2019-1 Notes, a per annum rate equal to the rate determined by the Property Manager to be the greater of (i) 5.00% and (ii) the amount, if any, by which the sum of the following exceeds the Note Rate for such Class of Series 2019-1 Notes: (A) the yield to maturity (adjusted to a “mortgage equivalent basis” pursuant to the standards and practices of the Securities Industry and Financial Markets Association) on such Anticipated Repayment Date of the United States Treasury Security having a term closest to ten (10) years, plus (B) 5.00%, plus (C) the applicable Post-ARD Spread.

Post-ARD Additional Interest Rate. With respect to the Series 2012-1 Notes, a rate determined by the Property Manager to be the greater of (i) 5.0% and (ii) the applicable Post-ARD Reset Rate.

Post-ARD Additional Interest Rate has the meaning assigned thereto in the Loan Agreement Supplement for such Component.

Post-ARD Additional Interest Rate means, for any Class of Bonds, an annual rate equal to the greater of (i) 5.00% and (ii) the amount, if any, by which the sum of the following exceeds the related Bond Rate: (A) the yield to maturity (adjusted to a “mortgage equivalent basis” pursuant to the standards and practices of the Securities Industry and Financial Markets Association) on the Anticipated Repayment Date of the U.S. Treasury security having a term closest to ten years, (B) 5.00% and (C) the related Post-ARD Spread.

Post-ARD Additional Interest Rate. A per annum rate equal to the rate determined by the Property Manager to be the greater of (i) 5.0% and (ii) the amount, if any, by which the sum of the following exceeds the Note Rate for such Series 2014-3 Notes: (A) the yield to maturity (adjusted to a “mortgage equivalent basis” pursuant to the standards and practices of the Securities Industry and Financial Markets Association) on such Anticipated Repayment Date of the United States Treasury Security having a term closest to ten years, plus (B) 5.0%, plus (C) the Post-ARD Spread.