Common use of Mac Notes Clause in Contracts

Mac Notes. The Class M-2AI, Class M-2BI, Class M-2I and Class B-1I Notes, which are Interest Only Notes, bear interest at the fixed rates per annum of 1.20%, 1.20%, 1.20% and 2.10%, respectively. However, in the event that one-month LIBOR used to calculate the Class Coupons of the Notes for any Accrual Period is less than zero, (i) the Class Coupons for the Class M-2I, Class M-2AI and Class M-2BI Notes may be subject to downward adjustment such that the aggregate amount of interest payable to such MAC Notes and the other MAC Notes in the related Combination would not exceed the aggregate Interest Payment Amount otherwise payable to the related Exchangeable Notes for which such Classes were exchanged (or related MAC Notes in the case of Combinations 4, 5, 6 and 7 of Schedule I) and (ii) the Class Coupon for the Class B-1I Notes may be subject to downward adjustment if the absolute value of one- month LIBOR exceeds the margin applicable to the Class Coupon formula of the Class B-1D Notes, in which case the Class Coupon of the Class B-1I Notes will be reduced by such excess; provided that in no event will the Class Coupon of the Class B-1I Notes be less than zero. STACR® DEBT NOTES, SERIES 2017-HRP1 1 M-2A $ 40,000,000 50% M-2 $ 80,000,000 100% One-Month LIBOR + 2.45% M-2B $ 40,000,000 50% 2 M-2AD $ 10,000,000 50% M-2D $ 20,000,000 100% One-Month LIBOR + 1.25% M-2BD $ 10,000,000 50% 3 B-1D $ 75,000,000 100% B-1 $ 75,000,000 100% One-Month LIBOR + 4.65% B-1I $ 75,000,000(3) 100% 4 M-2 $ 80,000,000 100% M-2R $ 80,000,000 100% One-Month LIBOR + 1.25% M-2I $ 80,000,000(3) 100% 1.20% 5 M-2 $ 80,000,000 100% M-2S $ 80,000,000 100% One-Month LIBOR + 1.55% M-2I $ 60,000,000(3) 75% 1.20% 6 M-2 $ 80,000,000 100% M-2T $ 80,000,000 100% One-Month LIBOR + 1.85% M-2I $ 40,000,000(3) 50% 1.20% 7 M-2 $ 80,000,000 100% M-2U $ 80,000,000 100% One-Month LIBOR + 2.15% M-2I $ 20,000,000(3) 25% 1.20% 8 M-2A $ 40,000,000 100% M-2AR $ 40,000,000 100% One-Month LIBOR + 1.25% M-2AI $ 40,000,000(3) 100% 1.20% 9 M-2A $ 40,000,000 100% M-2AS $ 40,000,000 100% One-Month LIBOR + 1.55% M-2AI $ 30,000,000(3) 75% 1.20% 10 M-2A $ 40,000,000 100% M-2AT $ 40,000,000 100% One-Month LIBOR + 1.85% M-2AI $ 20,000,000(3) 50% 1.20% 11 M-2A $ 40,000,000 100% M-2AU $ 40,000,000 100% One-Month LIBOR + 2.15% M-2AI $ 10,000,000(3) 25% 1.20% 12 M-2B $ 40,000,000 100% M-2BR $ 40,000,000 100% One-Month LIBOR + 1.25% M-2BI $ 40,000,000(3) 100% 1.20% 13 M-2B $ 40,000,000 100% M-2BS $ 40,000,000 100% One-Month LIBOR + 1.55% M-2BI $ 30,000,000(3) 75% 1.20% 14 M-2B $ 40,000,000 100% M-2BT $ 40,000,000 100% One-Month LIBOR + 1.85% M-2BI $ 20,000,000(3) 50% 1.20% 15 M-2B $ 40,000,000 100% M-2BU $ 40,000,000 100% One-Month LIBOR + 2.15% M-2BI $ 10,000,000(3) 25% 1.20% (1) Exchange proportions are constant proportions of the original Class Principal Balances (or original Notional Principal Amounts, if applicable) of the Original Classes or MAC Classes, as applicable. In accordance with the exchange proportions, you may exchange the Exchangeable Notes for MAC Notes, and vice versa. In addition, in the case of Combinations 4, 5, 6 and 7, in accordance with the exchange proportions, the indicated MAC Notes may further be exchanged for other MAC Notes, and vice versa. (2) In the event that One-Month LIBOR used to calculate the Class Coupons of the Notes for any Accrual Period is less than zero, the Class Coupons on the Class M-2I, Class M-2AI and Class M-2BI Notes may be subject to downward adjustment such that the aggregate amount of interest payable to such MAC Notes and the other MAC Notes in the related Combination would not exceed the aggregate Interest Payment Amount otherwise payable to the related Exchangeable Notes for which such Classes were exchanged (or related MAC Notes in the case of Combinations 4, 5, 6 and 7).