Rate Ceiling definition

Rate Ceiling. The maximum per annum Mortgage Interest Rate permitted under the related Mortgage Note.
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Rate Ceiling. With respect to each Adjustable Rate Mortgage Loan, the maximum per annum Mortgage Interest Rate permitted under the related Mortgage Note.
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Rate Ceiling. The maximum per annum Mortgage Interest Rate permitted under the related Mortgage Note. Rating Agency: Initially, each of S&P and Xxxxx’x and thereafter, each nationally recognized statistical rating organization that has rated the Certificates at the request of the Company, or their respective successors in interest. Ratings: As of any date of determination, the ratings, if any, of the Certificates as assigned by the applicable Rating Agencies.
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Examples of Rate Ceiling in a sentence

  • Adjustable Rate Mortgages (ARMs) Numeric – Decimal 0.02 9.999999 ARMs Only >= 0 and <= 1 99=no cap 51 Lifetime Maximum Rate (Ceiling) The maximum interest rate that can be in effect during the life of the loan.

  • Scholarship awards shall be equal to the Dual Credit Tuition Rate Ceiling.

  • The Commission should issue an order freezing the energy rate component of SDG&E's electric rates at the AB 265 ceiling level (currently 6.5-cents per kWh) and authorizing SDG&E to implement on March 1, 2001, on an interim basis subject to refund until approved in a final decision, an electric Revenue Shortfall Surcharge to manage the undercollection in the Energy Rate Ceiling Revenue Shortfall Account.

  • An appropriate benefit level or Regional Market Rate Ceiling (RMR) will be established based on the family’s documented need for services.

  • SDG&E Rate Ceiling and Undercollected Costs SDG&E is subject to a legislatively imposed temporary rate ceiling of 6.5 cents/kwh on its cost of electricity that it may pass on to residential and small business customers on a current basis.

  • Data entered in Column 1 is used to calculate the Tax Rate Ceiling had no voluntary reductions been taken in a prior even numbered year (see the Informational Data tab for this calculation).

  • The term "maximum rate permitted by Law" as used in this Note means the greater of (a) the maximum rate of interest permitted under federal or other law applicable to the indebtedness evidenced by this Note, or (b) the higher, as of the date of this Note, of the "Indicated Rate Ceiling" or the "Quarterly Ceiling" as referred to in Article 5069-1.04(a)(1) and Article 5069-1.04(a)(2) respectively, V.T.C.S. If any part of this Note cannot be enforced, this fact will not affect the rest of the Note.

  • The University of Louisville agrees to charge no more than the Dual Credit Tuition Rate Ceiling, equal to one-third (1/3) of Kentucky Community and Technical College in-state tuition rate per credit hour for those students not covered by either the Dual Credit Scholarship or the Work Ready Kentucky Scholarship.

  • If a parent chooses a provider that charges more than the Regional Market Rate Ceiling, the parent is responsible to pay the difference to the provider (co- payment).

  • DCS awards shall be equal to the amount charged by a participating institution, not to exceed the Dual Credit Tuition Rate Ceiling.


More Definitions of Rate Ceiling

Rate Ceiling. With respect to any ARM Loan, the maximum per annum Mortgage Interest Rate permitted under the related Mortgage Note.
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Rate Ceiling means a cents per gallon upper limit on the tax rate determined by the department and imposed on gasoline or diesel fuel under section 8(1)(a) and (b). Beginning with the rate in effect on October 1, 2015, rate ceiling means, for each rate determined under section 8(1), the sum of the rate floor for the applicable period plus 5 cents per gallon.
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Rate Ceiling. For each Adjustable-Rate Mortgage Loan, the maximum per annum Mortgage Interest Rate permitted under the related Mortgage Note and indicated on the Mortgage Loan Schedule.
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Rate Ceiling. The maximum per annum Mortgage Interest Rate permitted under the related Mortgage Note and indicated on the Mortgage Loan Schedule. Rating Agency: Each of Fitch and S&P. If either such organization or a successor is no longer in existence, "Rating Agency" shall be such nationally recognized statistical rating organization, or other comparable Person, as is designated by the Depositor, notice of which designation shall be given to the Trustee, the Master Servicer and the Securities Administrator. References herein to a given rating or rating category of a Rating Agency shall mean such rating category without giving effect to any modifiers.
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Rate Ceiling means a cents per gallon upper limit on the
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Rate Ceiling. Any lifetime maximum interest rate specified in a Mortgage Note.
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Related to Rate Ceiling

  • Rate Floor The minimum per annum Mortgage Interest Rate permitted under the related Mortgage Note. Rating Agency: Initially, each of S&P and Xxxxx’x and thereafter, each nationally recognized statistical rating organization that has rated the Certificates at the request of the Company, or their respective successors in interest. Ratings: As of any date of determination, the ratings, if any, of the Certificates as assigned by the applicable Rating Agencies.

  • State ceiling means the State’s housing credit ceiling established pursuant to Section 42(h)(3)(C) of the Code.

  • Rate Center means the specific geographic point that has been designated by a given LEC as being associated with a particular NPA-NXX code that has been assigned to the LEC for its provision of Telephone Exchange Service. The Rate Center is the finite geographic point identified by a specific V&H coordinate, which is used by that LEC to measure, for billing purposes, distance sensitive transmission services associated with the specific Rate Center.

  • Rate Year means July 1st of a given Calendar Year through June 30th of the succeeding Calendar Year.

  • 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.

  • Adjustable Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • Rate Center Area means the following in each applicable area:

  • Blended Rate means, with respect to any Taxable Year, the sum of the effective rates of tax imposed on the aggregate net income of the Corporate Taxpayer in each state or local jurisdiction in which the Corporate Taxpayer files Tax Returns for such Taxable Year, with the maximum effective rate in any state or local jurisdiction being equal to the product of: (i) the apportionment factor on the income or franchise Tax Return filed by the Corporate Taxpayer in such jurisdiction for such Taxable Year, and (ii) the maximum applicable corporate tax rate in effect in such jurisdiction in such Taxable Year. As an illustration of the calculation of Blended Rate for a Taxable Year, if the Corporate Taxpayer solely files Tax Returns in State 1 and State 2 in a Taxable Year, the maximum applicable corporate tax rates in effect in such states in such Taxable Year are 6% and 5%, respectively and the apportionment factors for such states in such Taxable Year are 60% and 40%, respectively, then the Blended Rate for such Taxable Year is equal to 5.6% (i.e., 6% times 60% plus 5% times 40%).

  • Excess Rate With respect to each ARD Loan, the excess of (i) the applicable Revised Rate over (ii) the applicable Mortgage Rate, each as set forth in the Mortgage Loan Schedule.

  • LIBOR Floor means 0.00%.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • Floating Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • Ceiling Rate means, with respect to any Calculation Period, the rate set forth as the “Ceiling Rate” on the attached Schedule I.

  • 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.

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

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Rate Period has the meaning set forth in the Statement.

  • Floating Rate Certificate A Certificate that provides for the payment of interest at a Floating Pass-Through Rate determined periodically by reference to a formula specified in the related Supplement.

  • Rate Protection means the payment of premiums for a defined period of time not exceeding 12 months, in advance of a rate increase that will not require any further payments to cover any difference between the advance payment and the new premium rate.

  • Fixed Rate Certificates As specified in the Preliminary Statement.

  • Ceiling means the height above the ground or water of the base of the lowest layer of cloud below 6 000 m (20 000 ft) covering more than half the sky;

  • Revolving Interest Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

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

  • Floating Rate Interest Period means, during the Floating Rate Period, the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date; provided that the first Floating Rate Interest Period will begin on (and include) April 18, 2025 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.

  • Prime Rate Spread means the difference (expressed as the number of basis points) between (a) LIBOR plus the Spread on the date LIBOR was last applicable to the Loan and (b) the Prime Rate on the date that LIBOR was last applicable to the Loan; provided, however, in no event shall such difference be a negative number.