Reference Spread definition

Reference Spread means, for any relevant calendar day, an amount equal to the difference between (i) the USD 30-Year CMS Rate for such day, minus (ii) the USD 2-Year CMS Rate for such day, as determined by the Calculation Agent.

Reference Spread means USD CMS 30y minus USD CMS 2y.

Reference Spread means, if applicable, the spread of Rate 1 over Rate 2, to be fixed by the Calculation Agent at the Valuation Time on each day by reference to information published on the Reference Spread Screen Page specified in the definition of the relevant Series in the applicable Final Terms, except that (i) if any day is not a Business Day, the fixing for the immediately preceding Business Day shall be used, (ii) the last fixing of Rate 1 and Rate 2 in each Interest Period will be the fifth Business Day prior to the Interest Payment Date falling at the end of that Interest Period and this fixing will be used for the remaining days of the Interest Period (whether or not they are Business Days) and (iii) if, in the determination of the Calculation Agent, a Market Disruption Event has occurred on any day, then the Reference Spread will be fixed by the Calculation Agent in accordance with Product Condition 4 below;

Examples of Reference Spread in a sentence

• Notwithstanding anything to the contrary in this Agreement or the other Transaction Documents, it is the intention of the Parties hereto that Pxxxx’s allocation hereunder from time to time of Mortgage Servicing Rights be treated for all U.S. federal, state and local income and franchise tax purposes as the sale by Payor and the purchase by Payee of the Reference Spread which does not include any amounts needed by the Payor to meet its servicing obligations.

• The entries in the Holder Register shall be conclusive absent manifest error, and Payor shall treat each Person whose name is recorded in the Holder Register as an owner of the Reference Spread for all purposes of this Agreement notwithstanding any notice to the contrary.

• Payee has received the related Agency Acknowledgment Agreement and reviewed the same with its legal counsel, such that Payee is aware of the risks associated with a termination of the Servicer as an Agency approved servicer, with a termination of the Servicing Agreement in whole or in part, and with a termination of the Agency Acknowledgment Agreement whereby the rights to the Reference Spread may be extinguished.

• Upon the satisfaction of the conditions precedent set forth in the Agreement, on the related Closing Date the Payor hereby promises to pay to Payee the Reference Spread related to such Mortgage Loans in accordance with Section 3.03 of the Agreement.

• Payor shall provide Payee with respect to the Reference Spread which Pxxxx has a right to receive hereunder, copies of all material amendments to the Servicing Agreement promptly after execution thereof.

More Definitions of Reference Spread

Reference Spread means on any Currency Business Day in an Accrual Period, a percentage equal to the CMS-30 Accrual Rate minus the CMS-10 Accrual Rate.

Reference Spread means Accrual Rate A minus Accrual Rate B.]

Reference Spread means Reference Rate2 – Reference Rate1;

Reference Spread means USD CMS 30y minus USD CMS 2y."USD CMS 30y" means the rate for fixed float interest rate swaps in USD for a period of 30 years which appears on Reuters Page ISDAFIX1 as of 11 am New York time on each calendar day. In case a calendar day is not a Business Day, the relevant rate is the rate displayed on the ISDAFIX1 page on the Business Day immediately prior to such calendar day.

Reference Spread means, for any relevant calendar day, an amount equal to the difference between

Reference Spread means, the rate (as determined by the Calculation Agent), being equal to the USD 10 Year CMS Rate Arithmetic Mean for such day minus the USD 2 Year CMS Rate Arithmetic Mean for such day.

Reference Spread means in respect of an Interest Period, the rate (as determined by the Calculation Agent), being equal to the USD 30 Year CMS Rate in respect of such Interest Period minus the USD 2 Year CMS Rate in respect of such Interest Period.