Average Rate definition

Average Rate means the simple arithmetic mean of the bank rates in effect at 4:00 p.m. Eastern Standard Time each day during the calendar month which immediately precedes the calendar month in which payment is made, where the "bank rate" means the rate of interest established from time to time by the Bank of Canada as the minimum rate at which the Bank of Canada makes short term advances to members of the Canadian Payments Association;

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Average Rate means the simple arithmetic mean of the Bank Rates in effect at 4:00 p.m. Eastern Time each day during the calendar month immediately before the calendar month in which payment is made;

Average Rate means the simple arithmetic mean of the Bank Rates in effect at 4:00

Examples of Average Rate in a sentence

• Union Average Rate Identifiers Classification(s) listed under the UAVG identifier indicate that no single majority rate prevailed for those classifications; however, 100% of the data reported for the classifications was union data.

• For each Distribution Date (and the related Interest Accrual Period) each of the Class M-1, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates shall accrue interest at a per annum rate equal to the B Average Rate.

• Prior to January 31, 2005, the 36 Month Average Rate shall mean only the average of the Month End Rates which have occurred since January 31, 2002, even though less than 36.

• For each Distribution Date (and the related Interest Accrual Period) each of the Class B1, Class B2, Class B3, Class B4, Class B5 and Class B6 Certificates will accrue interest at a per annum rate equal to the B Average Rate.

• If the City of Edmonton Short Term Investment Weighted Average Rate less one and one half percent (1.5%) is a negative sum for any period of time, then no interest will accrue on the Cash Security for that period.

More Definitions of Average Rate

Average Rate means the percentage obtained by dividing the sum of the annual compulsory contribution rates by contributory membership.

Average Rate. With respect to each Distribution Date and each Class of Subordinate Certificates, a per annum rate equal to the weighted average of the Designated Rate applicable to each Collateral Group (other than Collateral Group P), expressed as a percentage and weighted on the basis of the Group Subordinate Amount for each such Collateral Group.

Average Rate. With respect to each Distribution Date and each Subordinate Class, a per annum rate equal to the weighted average of (1) the Designated Rate applicable to each of Pool 2 and Pool 3, (2) the Pool 1 Net WAC Rate applicable to Pool 1 and (3) the Pool 4 Net WAC Rate applicable to Pool 4, expressed as a percentage and weighted on the basis of the Group Subordinate Amount for each such Mortgage Pool.

Average Rate shall have the meaning specified in the Pooling and Servicing Agreement.

Average Rate unless otherwise provided in any Supplement, shall mean, as of any date of determination and with respect to any Group, the percentage equivalent of a decimal equal to the sum of the amounts for each outstanding Series (or each Class within any Series consisting of more than one Class) within such Group obtained by multiplying (a) the Certificate Rate (reduced to take into account the payments received pursuant to any interest rate agreements net of any amounts payable under such agreements, or, if such agreements result in a net amount payable, increased by such net amount payable) for such Series or Class, by (b) a fraction, the numerator of which is the aggregate unpaid principal amount of the Investor Certificates of such Series or Class and the denominator of which is the aggregate unpaid principal amount of all Investor Certificates within such Group.

Average Rate means the percentage equivalent of a decimal equal to the sum of the amounts for each outstanding Series and Class obtained by multiplying (a) the sum of the Certificate Rate for such Series or Class plus the Net Servicing Fee Rate for such Series or Class, by (b) a fraction, the numerator of which is the aggregate unpaid principal amount of the Investor Certificates of such Series or Class and the denominator of which is the aggregate unpaid principal amount of all Investor Certificates.

Average Rate. For each Distribution Date, an annual rate equal to the weighted average of the Designated Rates applicable to each of the Groups, weighted on the basis of the Group Subordinate Amount for each Group.