Collateral Senior Minimum Interest Rate definition

Collateral Senior Minimum Interest Rate means the rate specified in the Transfer Agreement (as modified as described therein); provided that for purposes of this Supplement, such rate shall not exceed LIBOR plus 0.80% per annum.
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Collateral Senior Minimum Interest Rate means (i) initially, a per annum rate equal to 4.05%, and (ii) following a Note Trust Transfer, the rate specified in the applicable Transfer Agreement (as modified as described therein); provided that for purposes of this Supplement, such rate shall not exceed 4.05% per annum.
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Collateral Senior Minimum Interest Rate means: (A) (i) initially, a per annum rate equal to LIBOR plus 0.75%, and (ii) following a Benchmark Transition Event and its related Benchmark Replacement Date, the rate determined in accordance with the provisions of Section 4.14; provided that if the rate specified in clause (i) or clause (ii) is less than 0.00% for any Interest Accrual Period, then the Collateral Senior Minimum Interest Rate for such Interest Accrual Period shall be deemed to be 0.00%; and (B) following a Note Trust Transfer, the rate specified in the applicable Transfer Agreement (as modified as described therein); provided that for purposes of this Supplement, such rate shall not exceed the rate specified in clause (A)(i) or clause (A)(ii), as applicable.
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Examples of Collateral Senior Minimum Interest Rate in a sentence

  • Interest payable on the Collateral Senior Invested Amount on each Distribution Date, beginning June 15, 2022, to the holder of the Collateral Interest will equal to one-twelfth of the product of:(i) the Collateral Senior Minimum Interest Rate; and(ii) the Collateral Senior Invested Amount.For the first Distribution Date, however, interest on the Collateral Senior Invested Amount will equal $371,250.34.


More Definitions of Collateral Senior Minimum Interest Rate

Collateral Senior Minimum Interest Rate means (i) initially, a per annum rate equal to 5.51%, and (ii) following a Note Trust Transfer, the rate specified in the applicable Transfer Agreement (as modified as described therein); provided that for purposes of this Supplement, such rate shall not exceed 5.51% per annum.
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Related to Collateral Senior Minimum Interest Rate

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Note Interest Rate means a per annum rate equal to 0.06% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

  • Interest Rate Cap means the establishment of an upper limit for a variable interest rate.

  • Floating Interest Rate means the variable annual interest rate calculated for each Interest Adjustment Period so as to equal the Index Rate for such Interest Adjustment Period (truncated at the 5th decimal place if necessary) plus the Margin. However, in no event will the Floating Interest Rate exceed the Capped Interest Rate.

  • Applicable Interest Rate means the rate of interest prescribed under the Act from time to time;

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;