Maximum Legal Rate means the maximum nonusurious interest rate, if any, that at any time or from time to time may be contracted for, taken, reserved, charged or received on the indebtedness evidenced by the Note and as provided for herein or the other Loan Documents, under the laws of such state or states whose laws are held by any court of competent jurisdiction to govern the interest rate provisions of the Loan.
Prime Rate Margin is set forth on Schedule I hereto.
Base Rate Margin has the meaning set forth in the definition of Applicable Margin.
ANNUAL RATE ADJUST: MONTHLY P&I : 537.67 OUTSIDE CONV DATE : LIFETIME RATE : 7.50000 MATURITY DATE : 02/01/14 CURRENT INT RATE: 7.50000 PRODUCT CODE : 250 LTV : 71.60400 ---------------------------------------------------------------------------- 0 0007805435 MORTGAGORS: WARNOCK BRENT WARNOCK XXXXXX XXXXXX XODE ADDRESS : 154-158 WEST 0000 XXXXX 00 CITY : BOUNTIFUL STATE/ZIP : UT 84010 MORTGAGE AMOUNT : 97,500.00 OPTION TO CONVERT : UNPAID BALANCE : 97,205.54 ANNUAL RATE ADJUST: MONTHLY P&I : 903.84 OUTSIDE CONV DATE : LIFETIME RATE : 7.50000 MATURITY DATE : 03/01/14 CURRENT INT RATE: 7.50000 PRODUCT CODE : 250 LTV : 65.00000 ---------------------------------------------------------------------------- 0 0007805443 MORTGAGORS: YAMAMICHI KIMITO YAMAMICHI FUSAKO REGION CODE ADDRESS : 55221 RIVIERX 00 XXXX : LA QUINTA STATE/ZIP : CA 92253 MORTGAGE AMOUNT : 222,000.00 OPTION TO CONVERT : UNXXXX XXXXNCE : 219,931.62 ANNUAL RATE ADJUST: MONTHLY P&I : 2,026.56 OUTSIDE CONV DATE : LIFETIME RATE : 7.25000 MATURITY DATE : 01/01/14 CURRENT INT RATE: 7.25000 PRODUCT CODE : 250 LTV : 55.50000 ---------------------------------------------------------------------------- 0 0007805450 MORTGAGORS: CHO JOSEPH CHO XXXX XXXXXX XXXE ADDRESS : 14174 SW WINDSXXX XXXXX 00 CITY : TIGARD XXXXX/XXX : OR 97223 MORTGAGE AMOUNT : 168,000.00 OPTION TO CONVERT : UNPAID BALANCE : 166,484.89 ANNUAL RATE ADJUST: MONTHLY P&I : 1,569.34 OUTSIDE CONV DATE : LIFETIME RATE : 7.62500 MATURITY DATE : 01/01/14 CURRENT INT RATE: 7.62500 PRODUCT CODE : 250 LTV : 80.00000 ---------------------------------------------------------------------------- - **** PAGE TOTALS ***** NUM OF LOANS: 5 LOAN AMT: 673,200.00 P & I AMT: 6,167.44 UPB AMT: 667,728.51 1 GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C ISSUE DATE: 04/01/99 P.O. BOX 5260 TMS AG0004991015 00 01 XXGE: 19 CHERRY HILL, N.J. 08034 (800) 257-7818
Floating Rate Margin means 7.50 per cent. per annum.
LIBOR Rate Margin has the meaning set forth in the definition of Applicable Margin.
Initial Rate of Interest means the initial rate of interest per annum specified as such in the relevant Final Terms;
Annual Rate of Pay means, as of any date, an employee’s annualized base pay rate. An employee’s Annual Rate of Pay shall not include sales commissions or other similar payments or awards.
SONIA Reference Rate means, in respect of any London Banking Day, a reference rate equal to the daily Sterling Overnight Index Average ("SONIA") rate for such London Banking Day as provided by the administrator of SONIA to authorised distributors and as then published on the Relevant Screen Page (or if the Relevant Screen Page is unavailable, as otherwise is published by such authorised distributors) on the London Banking Day immediately following such London Banking Day; and
Applicable Base Rate Margin means, on any day, a rate per annum equal to the higher of (a) the Applicable Eurocurrency Margin for such day minus 1.00% and (b) 0.00%.
Euro-Dollar Margin means a rate per annum determined in accordance with the Pricing Schedule.
Applicable Margin means:
Reset Reference Rate means in respect of a Reset Period, the gross redemption yield (as calculated by the Agent Bank on the basis set out by the United Kingdom Debt Management Office in the paper “Formulae for Calculating Gilt Prices from Yields”, page 5, Section One: Price/Yield Formulae “Conventional Gilts”; Double dated and Undated Gilts with Assumed (or Actual) Redemption on a Quasi-Coupon Date (published 8 June 1998, as amended or updated from time to time) or if such basis is no longer in customary market usage at such time, in accordance with generally accepted market practice at such time, on a semi-annual compounding basis (rounded up (if necessary) to four decimal places) of the Benchmark Gilt in respect of that Reset Period, with the price of the Benchmark Gilt for the purpose of determining the gross redemption yield being the arithmetic average (rounded up (if necessary) to the nearest 0.001 per cent. (0.0005 per cent. being rounded upwards)) of the bid and offered prices of such Benchmark Gilt quoted by the Reset Reference Banks at 11.00 a.m. (London time) on the Reset Determination Date in respect of such Reset Period on a dealing basis for settlement on the next following dealing day in London. Such quotations shall be obtained by or on behalf of the Issuer and provided to the Agent Bank. If at least four quotations are provided, the Reset Reference Rate will be determined by reference to the rounded arithmetic mean of the quotations provided, eliminating the highest quotation (or, in the event of equality, one of the highest) and the lowest quotation (or, in the event of equality, one of the lowest). If only two or three quotations are provided, the Reset Reference Rate will be determined by reference to the rounded arithmetic mean of the quotations provided. If only one quotation is provided, the Reset Reference Rate will be determined by reference to the rounded quotation provided. If no quotations are provided, the Reset Reference Rate will be the previous Reset Reference Rate or (in the case of the first Reset Period) 1.581 per cent., where:
Applicable LIBOR Rate Margin means the following per annum percentages, applicable in the following situations:
Applicable Reference Rate means with respect to any Loan made in any currency, the rate indicated on Annex II under the heading “Applicable Reference Rate” for such currency.
Canadian Dollar means the lawful currency of Canada.