ABS Rate definition

ABS Rate means a per annum rate of interest equal to the rate of interest determined by Bank, in its sole discretion, from time to time, to be its ABS Rate. Such ABS Rate shall change from time to time as of the effective date of each change in the ABS Rate as determined in the sole discretion of Bank. The ABS Rate may be greater or less than other interest rates charged by Bank to other borrowers and is not solely based or dependent upon the interest rate which Bank may charge any particular borrower or class of borrowers.
View Source
ABS Rate means, as of any date, the assumed rate of prepayment on the Receivables for each Collection Period based upon the “Absolute Prepayment Model”, applied in accordance with then-current market standards.
View Source

Examples of ABS Rate in a sentence

  • If at any time the ABS Rate Option is determined to exceed the Prime Rate Option, the ABS Rate Portion shall automatically convert to the Prime Rate Option.

  • Undersigned shall have the right at its option from time to time to prepay the Prime Rate Portion and ABS Rate Portion in whole or in part.

  • Every selection of, conversion to or renewal of the ABS Rate Option, the LIBOR-Rate Option, or the As-Offered Rate Option shall be in a principal amount selected by Undersigned but limited to no more than four interest rate segments at any one time.

  • Accrued interest on the Prime Rate Portion, ABS Rate Portion, and As Offered Rate Portion shall be due and payable on the last Business Day of each calendar month after the date hereof and on October 30, 1998.

  • Standard Notice having been so provided, on the date specified in such Standard Notice, the principal amounts of the Base Rate Portion and the ABS Rate Portion and each part of the Euro-Rate Portion specified in such notice, together with interest on each such principal amount to such date, shall be due and payable.

  • All Revolving Credit Loans that are ABS Rate Loans (as defined in the Existing Agreement) shall be converted to Prime Rate Loans on the Closing Date.

  • Interest on the Base Rate Portion and the ABS Rate Portion shall be due and payable on the first (1st) Business Day of each calendar month.

  • The Borrowers shall pay to the Bank interest on the unpaid principal balance of the aggregate outstanding balance of the Revolving Credit Loans which are Prime Rate Loans or ABS Rate Loans, in arrears, on the first (1st) day of the first (1st) full calendar month after the Closing Date and on the first day of each calendar month thereafter through and including the Expiry Date.

  • The Company may hire students for the plant for the time period between May and September 15th if required.

  • Accrued interest on the Prime Rate Portion and the ABS Rate Portion shall be due and payable on the last Business Day of each calendar month after the date hereof and on October 31, 1995.