Carry Rate definition
Carry Rate means the rate at which Carry Charges will be calculated as set out in item 3.2;
Carry Rate. For the period from the Original Lease Commencement Date with respect to the ▇▇▇▇▇▇▇ Lake Lodge Facility to and until the expiration of the first Lease Year with respect to such Facility, the "Carry Rate" shall be the greater of (i) Seven Percent (7%) and (ii) the ten-year U.S. Treasury Note rate published in the Wall Street Journal five (5) Business Days prior to the Original Lease Commencement Date with respect to such Facility and quoting the rate as of the immediately prior Business Day, plus Two and Seventy One-Hundredths Percent (2.70%). If the ten-year U.S. Treasury Note rate is discontinued prior to six (6) Business Days prior to the Original Lease Commencement Date with respect to such Facility, then such calculation shall be made instead by reference to a substitute rate selected by Lessor that is comparable with the ten-year U.S. Treasury Note rate. Similarly, if the Wall Street Journal is discontinued, a substitute publication selected by Lessor shall be used. Commencing upon the expiration of the first Lease Year with respect to the ▇▇▇▇▇▇▇ Lake Lodge Facility, and upon the expiration of each Lease Year with respect to such Facility thereafter through the Excess Land Cost Rent Reset Date, the then current Carry Rate shall be increased for the ensuing Lease Year with respect to such Facility by the greater of (a) Two and Three Quarter Percent (2.75%) and (b) Seventy-Five Percent (75%) of the applicable CPI Increase.
Carry Rate means the carry rate defined in clause 11.3(e)(i).
Examples of Carry Rate in a sentence
Class A-2, Class A-3 The Class A-2, Class A-3 and Class A-4 Interest Rate Cap and Class A-4 Interest Payment shall be available to pay any Basis Risk Carry Rate Cap Payment Forward Amount due to the Class A-2, Class A-3 and Class Allocation: A-4 Certificates pro rata.
An annual interest rate equal to the applicable Carry Rate applied to the Excess Land Cost, as computed each month (but in no event greater than the maximum rate then permitted under applicable law).
More Definitions of Carry Rate
Carry Rate shall be an amount equal to 3.75% per annum.