Adjusted Student Loan Rate definition

Adjusted Student Loan Rate means, with respect to any Calculation Period, the product of (a) the quotient obtained by dividing (i) 360 by (ii) the actual number of days elapsed in the relevant Calculation Period and (b) the percentage equivalent (not less than zero percent) of a fraction (i) the numerator of which is equal to Expected Interest Collections for the Collection Period relating to such Calculation Period less the Servicing Fee with respect to such relevant Collection Period and the Administration Fee and the Derivative Product Fees payable on the relevant Floating Rate Payer Payment Date, and (ii) the denominator of which is the Pool Balance as of the first day of such Collection Period.
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Adjusted Student Loan Rate for any Quarterly Interest Period will equal the product of (a) the quotient obtained by dividing (i) 365 (366 in the case of a leap year) by (ii) the actual number of days elapsed in such Quarterly Interest Period and (b) the percentage equivalent of a fraction, (i) the numerator of which is equal to the sum of Expected Interest Collections and, if the Swap Agreement is still in effect, the Net Trust Swap Receipt, if any, for such Quarterly Interest Period less the sum of the Servicing Fee, the Administration Fee and, if the Swap Agreement is still in effect, the Net Trust Swap Payment, if any, with respect to such Quarterly Interest Period and (ii) the denominator of which is the aggregate principal amount of the Notes outstanding as of the last day of such Quarterly Interest Period. Pursuant to the Administration Agreement, the Administrator will determine Three-Month LIBOR for purposes of calculating the Class A-2 Note LIBOR Rate for each Quarterly Interest Period on the second business day prior to the commencement of each LIBOR Reset Period within such Quarterly Interest Period (or, in the case of the initial LIBOR Reset Period, on the second business day prior the Closing Date) (each, a "LIBOR Determination Date"). For purposes of calculating Three-Month LIBOR, a business day is any day on which banks in The City of New York and the City of London are open for the transaction of international business. Interest due for any Quarterly Interest Period will be determined based on the actual number of days in such Quarterly Interest Period over a 360-day year.
Sample 1
Adjusted Student Loan Rate means, with respect to any Quarterly Interest Period, the interest rate equal to the product of (a) the quotient obtained by dividing (i) 365 (366 in the case of a leap year) by (ii) the actual number of days elapsed in such Quarterly Interest Period and (b) the percentage equivalent of a fraction, the numerator of which is equal to the sum of the Expected Interest Collections and, if the Swap Agreement is still in effect, the Net Trust Swap Receipt, if any, for the such Quarterly Interest Period, less the sum of the Servicing Fee, the Administration Fee and, if the Swap Agreement is still in effect, the Net Trust Swap Payment, if any, with respect to such Quarterly Interest Period and (ii) the denominator of which is the aggregate principal amount of the Notes as of the last day of such Quarterly Interest Period.
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Examples of Adjusted Student Loan Rate in a sentence

  • Floating Rate Payments: A-2 Cap Rate: Adjusted Student Loan Rate.

  • Floating Rate Payments: A-1 Cap Rate: Adjusted Student Loan Rate.

  • Floating Rate Payments: A-3 Cap Rate: Adjusted Student Loan Rate.

  • We recalculated the amounts in segment IV (G) through (I) and "Net Expected Interest Collections" and the "Adjusted Student Loan Rate" percentage and compared the resulting amounts and percentage to those reported, noting agreement.

  • Managed in terms of data loss but also in the form of being kept confidential.

  • For purposes of calculating the Class A-1 Note LIBOR Rate, the Class A-2 Note LIBOR Rate, the Certificate LIBOR Rate, the Adjusted Student Loan Rate, the Class A-1 Note Rate, the Class A-2 Note Rate and the Certificate Rate for each Quarterly Interest Period, the Indenture Trustee shall calculate 3-Month LIBOR on the related LIBOR Determination Date.

  • The "CLASS A-1 NOTE RATE" for each Quarterly Payment Date and the related LIBOR Reset Period shall be equal to the lesser of (i) 3-Month LIBOR for the related LIBOR Reset Period plus ___% (the "CLASS A-1 NOTE LIBOR RATE") and (ii) the Adjusted Student Loan Rate for such Quarterly Interest Period.


More Definitions of Adjusted Student Loan Rate

Adjusted Student Loan Rate for any Quarterly Interest Period will equal the product of (a) the quotient obtained by dividing (i) 365 (366 in the case of a leap year) by (ii) the actual number of days elapsed in such Quarterly Interest Period and (b) the percentage equivalent of a fraction (i) the numerator of which is equal to the sum of the Expected Interest Collections for such Quarterly Interest Period less the sum of the Master Servicing Fee and the Administration Fee with respect to such Quarterly Interest Period and the denominator of which is the sum of (A) the Outstanding Amount of the Notes as of the last day of such Quarterly Interest Period and (B) the Certificate Balance of the Certificates as of such date. Pursuant to the Indenture, the Indenture Trustee will determine 3-Month LIBOR for purposes of calculating the Class A-1 Note LIBOR Rate for each Quarterly Interest Period on the second business day prior to the commencement of each LIBOR Reset Period within such Quarterly Interest Period (or, in the case of the initial LIBOR Reset Period, on the second business day prior the Closing Date) (each, a "LIBOR DETERMINATION DATE"). For purposes of calculating 3-Month LIBOR, a business day is any day on which banks in The City of New York and the City of London are open for the transaction of international business. Interest due for any Quarterly Interest Period will be determined based on the actual number of days in such Quarterly Interest Period over a 360-day year.
Sample 1
Adjusted Student Loan Rate for any Quarterly Interest Period will equal the product of (a) the quotient obtained by dividing (i) 365 (366 in the case of a leap year) by (ii) the actual number of days elapsed in such Quarterly Interest Period and (b) the percentage equivalent of a fraction, (i) the numerator of which is equal to the sum of Expected Interest Collections and, if the Swap Agreement is still in effect, the Net Trust Swap Receipt, if any, for such Quarterly Interest Period less the sum of the Servicing Fee, the Administration Fee, the Subordinate Note Insurance Policy Premium and, if the Swap Agreement is still in effect, the Net Trust Swap Payment, if any, with respect to such Quarterly Interest Period and (ii) the denominator of which is the aggregate principal amount of the Notes outstanding as of the last day of such Quarterly Interest Period. Pursuant to the Administration Agreement, the Administrator will determine Three-Month LIBOR for purposes of calculating the Class A-2 Note LIBOR Rate for each Quarterly Interest Period on the second business day prior to the commencement of each LIBOR Reset Period within such Quarterly Interest Period (or, in the case of the initial LIBOR Reset Period, on the second business day prior the Closing Date) (each, a "LIBOR Determination Date"). For purposes of calculating Three-Month LIBOR, a business day is any day on which banks in The City of New York and the City of London are open for the transaction of international business. Interest due for any Quarterly Interest Period will be determined based on the actual number of days in such Quarterly Interest Period over a 360-day year.
Sample 1
Adjusted Student Loan Rate means, with respect to any Quarterly Interest Period, the interest rate equal to the product of (a) the quotient obtained by dividing (i) 365 (366 in the case of a leap year) by (ii) the actual number of days elapsed in such Quarterly Interest Period and (b) the percentage equivalent of a fraction, the numerator of which is equal to the Expected Interest Collections for such Quarterly Interest Period, less the sum of the Servicing Fee and the Administration Fee with respect to such Quarterly Interest Period and (ii) the denominator of which is the sum of (x) the aggregate principal amount of the Notes and (y) the Certificate Balance of the Certificates, each as of the last day of such Quarterly Interest Period.
Sample 1
Adjusted Student Loan Rate means, with respect to any Quarterly Interest Period, the interest rate equal to the product of (a) the quotient obtained by dividing (i) 365 (366 in the case of a leap year) by (ii) the actual number of days elapsed in such Quarterly Interest Period and (b) the percentage equivalent of a fraction, the numerator of which is equal to the sum of the Expected Interest Collections and, if the Swap Agreement is still in effect, the Net Trust Swap Receipt, if any, for the such Quarterly Interest Period, less the sum of the Servicing Fee, the Administration Fee, the Subordinate Note Insurance Policy Premium and, if the Swap Agreement is still in effect, the Net Trust Swap Payment, if any, with respect to such Quarterly Interest Period and (ii) the denominator of which is the aggregate principal amount of the Notes as of the last day of such Quarterly Interest Period.
Sample 1

Related to Adjusted Student Loan Rate

  • Net Loan Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the then applicable Loan Rate for such Mortgage Loan minus the related Servicing Fee Rate and the Master Servicing Fee Rate.

  • Mortgage Loan Rate means, as of any date of determination, the weighted average of the Note A Rate and the Note B Rate.

  • Loan Rate for any Mortgage Loan and on any day means the per annum rate of interest applicable under the related Credit Line Agreement to the calculation of interest for the day on the Asset Balance of the Mortgage Loan.

  • Assumed Reinvestment Rate one-twelfth (1/12) of the yield rate, as of the date 5 Business Days before the Prepayment Date, on the Treasury Security, as reported in The Wall Street Journal, expressed as a decimal calculated to five digits. In the event that no yield is published on the applicable date for the Treasury Security, Lender, in its discretion, shall select the non-callable Treasury Security maturing in the same year as the Treasury Security with the lowest yield published in The Wall Street Journal as of the applicable date. If the publication of such yield rates in The Wall Street Journal is discontinued for any reason, Lender shall select a security with a comparable rate and term to the Treasury Security. The selection of an alternate security pursuant to this Section shall be made in Xxxxxx’s discretion.

  • Mortgage Loan Remittance Rate With respect to each Mortgage Loan, the annual rate of interest remitted to the Purchaser, which shall be equal to the Mortgage Interest Rate minus the Servicing Fee Rate.

  • Term Loan Rate means an interest rate per annum equal to (a) the sum of the Alternate Base Rate plus the Applicable Margin with respect to Domestic Rate Loans and (b) the sum of the Eurodollar Rate plus the Applicable Margin with respect to Eurodollar Rate Loans.

  • Excess Servicing Fee Rate The rate of 0.0% per annum with respect to each Mortgage Loan.

  • Non-Lead Securitization Determination Date means the “determination date” (or any term substantially similar thereto) as defined in the related Non-Lead Securitization Servicing Agreement.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Adjusted Mortgage Rate As to each Mortgage Loan, and at any time, the per annum rate equal to the Mortgage Rate less the Master Servicing Fee Rate.

  • Maximum Loan Rate With respect to each Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Loan Rate thereunder.

  • Adjusted Pool Balance means, on the Closing Date, an amount equal to:

  • Weighted Average Adjusted Net Mortgage Rate For any Distribution Date and Loan Group, the average of the Adjusted Net Mortgage Rate of each Mortgage Loan in that Loan Group, weighted on the basis of its Stated Principal Balance as of the Due Date in the prior month (after giving effect to Principal Prepayments in the Prepayment Period related to such prior Due Date).

  • Loan Combination Custodial Account means the “Loan Combination Custodial Account” or analogous account established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Reinvestment Rate means .25% (one-fourth of one percent) plus the arithmetic mean of the yields under the respective headings “This Week” and “Last Week” published in the Statistical Release under the caption “Treasury Constant Maturities” for the maturity (rounded to the nearest month) corresponding to the remaining life to maturity, as of the payment date of the principal being redeemed or paid. If no maturity exactly corresponds to such maturity, yields for the two published maturities most closely corresponding to such maturity shall be calculated pursuant to the immediately preceding sentence and the Reinvestment Rate shall be interpolated or extrapolated from such yields on a straight-line basis, rounding in each of such relevant periods to the nearest month. For the purposes of calculating the Reinvestment Rate, the most recent Statistical Release published prior to the date of determination of the Make-Whole Amount shall be used.

  • Weighted Average Net Mortgage Interest Rate As to any Distribution Date, a rate per annum equal to the average, expressed as a percentage of the Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date, weighted on the basis of the respective Scheduled Principal Balances of such Mortgage Loans.

  • Revolving Interest Rate means, with respect to Revolving Advances, an interest rate per annum equal to (a) the lesser of (i) the sum of the Alternate Base Rate plus the Applicable Revolving Domestic Rate Margin and (ii) the Maximum Rate, with respect to Domestic Rate Loans, and (b) the lesser of (i) the sum of the Eurodollar Rate plus the Applicable Revolving Eurodollar Rate Margin and (ii) the Maximum Rate, with respect to the Eurodollar Rate Loans.

  • Adjusted Net Mortgage Interest Rate As to each Mortgage Loan and at any time, the per annum rate equal to the Mortgage Interest Rate less the Expense Fee Rate.

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • Applicable Interest Rate means (i) with respect to any Fixed Rate Indebtedness, the fixed interest rate applicable to such Fixed Rate Indebtedness at the time in question, and (ii) with respect to any Floating Rate Indebtedness, either (x) the rate at which the interest rate applicable to such Floating Rate Indebtedness is actually capped (or fixed pursuant to an interest rate hedging device), at the time of calculation, if Borrower has entered into an interest rate cap agreement or other interest rate hedging device with respect thereto or (y) if Borrower has not entered into an interest rate cap agreement or other interest rate hedging device with respect to such Floating Rate Indebtedness, the greater of (A) the rate at which the interest rate applicable to such Floating Rate Indebtedness could be fixed for the remaining term of such Floating Rate Indebtedness, at the time of calculation, by Borrower’s entering into any unsecured interest rate hedging device either not requiring an upfront payment or if requiring an upfront payment, such upfront payment shall be amortized over the term of such device and included in the calculation of the interest rate (or, if such rate is incapable of being fixed by entering into an unsecured interest rate hedging device at the time of calculation, a fixed rate equivalent reasonably determined by Administrative Agent) or (B) the floating rate applicable to such Floating Rate Indebtedness at the time in question.

  • Adjusted CD Rate has the meaning set forth in Section 2.07(b).

  • Fund/SERV Eligible Unit Servicing Agent means FTP Services LLC or any successor Fund/SERV Eligible Unit servicing agent appointed as hereinafter provided."

  • Weighted Average Net Mortgage Rate The weighted average of the Net Mortgage Rates of the Mortgage Loans, weighted on the basis of the Stated Principal Balances thereof as of the close of business on the first day of the calendar month preceding the month in which such Distribution Date occurs.

  • Adjusted Base Rate means the Base Rate plus the Applicable Percentage.