Threshold Rate definition

Threshold Rate means, at any time, the minimum rate of interest that must be set on all Mortgage Loans (where permitted by the terms of the Mortgage Loan and corresponding Loan Agreement) which will be sufficient (assuming that all relevant parties comply with their obligations at all times under the Transaction Documents and the Mortgage Documents), when aggregated with the income produced by the rate of interest on all other Mortgage Loans and the income from Short-Term Authorised Investments, to ensure that the Trustee will have available to it sufficient Finance Charge Collections and Other Income Amounts to enable it to comply with its obligations under the Transaction Documents as they fall due.

Threshold Rate. “Trust” “Trust Manager”

Threshold Rate means the minimum Borrower Rates required to be set on the Housing Loans which will ensure that Secure Funding has sufficient funds (from Collections on such Housing Loans as well as any net amounts due to it under the Interest Rate Swap Agreement (if any)) (if any) available to meet the Required Payments (assuming that all parties comply with their obligations under such documents and such Housing Loans) and taking into account Housing Loans where the Trust Servicer does not have the discretion under the related Loan Agreement to vary the interest rate of that Housing Loan and moneys held in Authorised Investments.

Examples of Threshold Rate in a sentence

• If the Servicer is notified of a Threshold Rate under clause 9.1, it will, not more than 7 Business Days following the date on which the Basis Swap is terminated, ensure that the interest rate payable on each Purchased Receivable which is subject to a variable rate is set not less than the Threshold Rate and shall promptly notify the relevant Obligors of the change in accordance with the Receivable Agreements.

• However, in setting the Threshold Rate, the Manager is entitled to assume that all parties to the Transaction Documents comply in full with their obligations.

• For purposes of this Agreement, the Threshold Rate for any Award Period shall mean the rate of return during the Award Period of the average two-year treasury note for the sixty (60) day period ending on the last Business Day preceding the first day of the Award Period assuming that dividends with respect to such two-year treasury note paid during the Award Period are reinvested at such two-year treasury note rate.

• If the Servicer is notified of the Threshold Rate, it is required, subject to the terms of the relevant Housing Loans, to ensure that the process is commenced to change the rate of interest (expressed as a percentage per annum) on all relevant discretionary variable rate Housing Loans, such that, the weighted average rate of interest payable on all relevant discretionary variable Housing Loans is not less than the Threshold Rate and immediately to notify the Trustee when that process has been completed.

• The following is an Additional Termination Event in relation to which Party B is the only Affected Party and the Basis Swap is the only Affected Transaction: If, on any day on which the weighted average Mortgage Rate applicable to the Mortgage Loans forming part of the Assets of the Series Trust which are charged interest at a variable rate is equal to or greater than the then Threshold Rate, Party A notifies Party B and each Rating Agency of its intention to terminate the Basis Swap.

More Definitions of Threshold Rate

Threshold Rate means, in relation to the Receivables, the interest rate (expressed as a per centum per annum) determined by the Trust Manager in accordance with the relevant Series Notice.

Threshold Rate means in respect of an Interest Period an annual rate of LIBOR as determined in relation to the Notes for such Interest Period plus the Threshold Margin.

Threshold Rate means 0.25% plus the minimum rates required to be set on the Receivables which will ensure that FirstMac has sufficient funds (from Collections on such Receivables as well as any net amounts due to it under Derivative Contracts, the Interest Rate Swap Agreement and the Currency Swap Agreement) available to meet its obligations, including the payment of the Threshold Amount, under the Transaction Documents (assuming that all parties comply with their obligations under such documents and such Receivables) and taking into account Receivables where each Servicer does not have the discretion under the related Loan Agreement to vary the interest rate of that Receivable and moneys held in Authorised Investments.

Threshold Rate or “margin”, which means an amount subtracted from the change in the equity index, subject to a maximum stated in the contract;

Threshold Rate in relation to a financial year, means the sum of--

Threshold Rate means the sum of the minimum interest rates required to be set on the Housing Loans forming part of the Purchased Mortgage Loans which will ensure that the Issuer Trustee has sufficient funds available to meet its obligations under the Transaction Documents (assuming that all parties comply with their obligations under such documents and such Housing Loans) and taking into account Housing Loans where the Seller does not have the discretion under the Loan Agreement to vary the interest rate of that Housing Loan and moneys held in Authorised Investments where the yield is determined externally and not by the Servicer.

Threshold Rate means, at any time, the minimum rate of interest that must be set on all Purchased Receivables where permitted under the relevant Receivable Agreement which will be sufficient (assuming that all relevant parties comply with their obligations at all times under the Transaction Documents, the Purchased Receivables and the related Receivable Rights), when aggregated with the income produced by the rate of interest on all other Purchased Receivables, to ensure that the Trustee will have available to it sufficient Collections to enable it to comply with its obligations under the Transaction Documents relating to the Trust as they fall due (including the repayment of any Principal Draws by the Maturity Date of all Notes and the payment of all A$ denominated amounts to each Currency Swap Provider under the relevant Currency Swap necessary to enable the Trustee to pay all Coupons due on Offshore Notes from time to time).