Examples of Capped Interest Rate in a sentence
As used in this Section 11.11, “annual principal and interest” with respect to a floating rate loan will be calculated by Freddie Mac using an interest rate equal to one of the following: (X) If the loan has an internal interest rate cap, the Capped Interest Rate.
As used in this Section, “annual principal and interest” with respect to a floating rate loan will be calculated by Freddie Mac using an interest rate equal to one of the following: (X)If the loan has an internal interest rate cap, the Capped Interest Rate.
Promptly following each date on which the Required Amount is reduced as a result of a reduction in the Capped Interest Rate or the Pool Balance of the Class G Certificates (including upon any Policy Provider Election with respect to a Series G Equipment Note) or otherwise, the Maximum Commitment shall automatically be reduced to an amount equal to such reduced Required Amount (as calculated by the Borrower).
Promptly following each date on which the Required Amount is (i) reduced as a result of a reduction in the Pool Balance of the Class B Certificates or otherwise or (ii) increased as a result of an increase in the Capped Interest Rate for the Class B Certificates, the Maximum Commitment shall automatically be reduced or increased, as the case may be, to an amount equal to such reduced or increased, as the case may be, Required Amount (as calculated by the Borrower).
Promptly following each date on which the Required Amount is (i) reduced as a result of a reduction in the Pool Balance of the Class A Certificates or otherwise or (ii) increased as a result of an increase in the Capped Interest Rate for the Class A Certificates, the Maximum Commitment shall automatically be reduced or increased, as the case may be, to an amount equal to such reduced or increased, as the case may be, Required Amount (as calculated by the Borrower).