Class B Interest Rate definition

Class B Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

Class B Interest Rate means % per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

Class B Interest Rate means 5.57% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

Examples of Class B Interest Rate in a sentence

• The maximum grant size is R100 000.00 with an own contribution of R400 000.00.

• Eurodollar Interest Period, except as otherwise provided in the definition of Eurodollar Interest Period or in Section 3.3 or 3.4. (ii) Class B Interest Rate.

• If the amounts paid by the Issuer to the Swap Counterparty are insufficient to meet the Issuer's payment obligations under the Swap Agreements, such payments by the Issuer will be used for payments due under the Class A Interest Rate Swap Agreement and, to the extent such payment obligations have been fully satisfied, will be used for payments due under the Class B Interest Rate Swap Agreement.

• Under the Class B Interest Rate Swap Agreement the Issuer will undertake to pay to the Class B Swap Counterparty on each Payment Date an amount equal to the amount of interest on the nominal amount of the Class B Notes outstanding on each Payment Date, calculated on the basis of a fixed rate of interest of 5.92 per cent.

• Subject to the provisions of Section 3.06, the Class A Loans shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to the Class A Interest Rate in effect from time to time, and the Class B Loans shall bear interest (computed on the basis of the actual number of days elapsed over a year of 360 days) at a rate per annum equal to the Class B Interest Rate in effect from time to time.

More Definitions of Class B Interest Rate

Class B Interest Rate has the meaning assigned to such term in the Indenture.

Class B Interest Rate means [ ]% per annum.

Class B Interest Rate means 4.94% per annum.

Class B Interest Rate means ____% per annum; provided, however, the per annum rate shall be increased by 0.50% beginning on the first Payment Date following the end of any Collection Period on which the Pool Balance is equal to or less than 10% of the Original Pool Balance if the Class B Notes will not be redeemed on such Payment Date.

Class B Interest Rate means 0.60% per annum in excess of LIBOR as determined on the related LIBOR Determination Date.

Class B Interest Rate means, with respect to any Interest Period, a rate per annum equal to LIBOR, as determined by the Calculation Agent on the LIBOR Determination Date with respect to such Interest Period, plus 1.00%.

Class B Interest Rate. Cap: Beginning on the first Distribution Date, and for a period of 44 months thereafter, an Interest Rate Cap will be entered into by the Trust for the benefit of the Class B Certificates. For its duration, the Class B Interest Rate Cap pays the Trust the product of (i) the excess, if any, of the then current 1-month LIBOR rate (not to exceed the cap ceiling) over the cap strike (on an Actual/360 day count basis) and (ii) the Class B Interest Rate Cap Notional Balance ("the Class B Interest Rate Cap Payment") as described on the schedule herein.