Subordinated Note Rate has the meaning set forth in the Trust Agreement.

Subordinated Note Rate means ____% per annum (computed on the basis of a 360-day year of twelve 30-day months).

Examples of Subordinated Note Rate in a sentence

To the extent lawful and enforceable, interest on any Deferred Interest on the Senior Subordinated Notes shall accrue at the same per annum rate as the then current Senior Subordinated Note Rate.
Interest shall be payable on each Settlement Date in arrears; provided, however, that if the SPV does not have sufficient cash available on any Settlement Date to make such interest payment, then such interest shall be deferred to the next Settlement Date and shall bear interest at the Subordinated Note Rate.
The Issuers promise to pay the Senior Subordinated Note Amount, if any, on the 17th day of each of January, April, July and October in each year (each, a "Payment Date"), commencing in October 2017 (or, if such day is not a Business Day, the next succeeding Business Day), at the Senior Subordinated Note Rate on the unpaid principal amount hereof until the principal hereof is paid or duly provided for.
To the extent that interest on this Subordinated Note is accrued but not paid in full on any Payment Date, such overdue interest will be due on the next Payment Date together with interest on such amount (to the extent lawful) at the Subordinated Note Rate.

More Definitions of Subordinated Note Rate

Subordinated Note Rate means, with respect to any Series of Subordinated Notes, the annual rate at which interest accrues on the Subordinated Notes of such Series of Subordinated Notes (or formula on the basis of which such rate shall be determined) as stated in the applicable Supplement.

Subordinated Note Rate is defined in Section 3.1(c) of this Agreement.

Subordinated Note Rate means a Note Rate equal to 5.588% per annum;

Subordinated Note Rate means a Note Rate equal to 2.438% per annum;

Subordinated Note Rate means, for a Series, the rate that is equivalent to the pre-tax yield of 800 basis points over the yield of the U.S. Treasury security having a maturity nearest to the weighted average life of the Class A Notes of such Series. The Subordinated Note Rate for a Series shall be specified in the related Supplement.

Subordinated Note Rate is defined in Section 3.1(c).