Class A-1 Note Rate definition

Class A-1 Note Rate means, (i) with respect to the initial Series 2002-1 Interest Period, 2.04% per annum and (ii) with respect to each Series 2002-1 Interest Period thereafter, a rate per annum equal to One-Month LIBOR for such Series 2002-1 Interest Period plus 0.20% per annum.

Class A-1 Note Rate. With respect to any Payment Date, the per annum rate equal to the lesser of (i) the Class A-1 Formula Rate and (ii) the Class A-1 Available Funds Cap Rate for such Payment Date.

Class A-1 Note Rate. With respect to any Payment Date, the per annum rate equal to 4.930%; provided, that, on any Payment Date after the Clean-Up Call Date related to the Class A-1 Notes, the Class A-1 Note Rate will be 5.680%.

Examples of Class A-1 Note Rate in a sentence

• To the extent any such amount is not paid when due, such unpaid amount will accrue interest at the Series 2018-1 Class A-1 Note Rate.

• With respect to any Payment Date, the Class A-1 Notes will be entitled to interest accrued from and including the preceding Payment Date (or from and including the Closing Date in the case of the first Payment Date) to and including the day prior to the then current Payment Date (the "Class A-1 Accrual Period") at the Class A-1 Note Rate on the aggregate principal balance of the Class A-1 Notes on an actual/360-day basis.

• To the extent any such amount is not paid when due, such unpaid amount will accrue interest at the Series 2019-3 Class A-1 Note Rate.

• To the extent any such amount is not paid when due, such unpaid amount will accrue interest at the Series 2019-1 Class A-1 Note Rate.

• To the extent any such amount is not paid when due, such unpaid amount will accrue interest at the Series 2022-1 Class A-1 Note Rate.

More Definitions of Class A-1 Note Rate

Class A-1 Note Rate means, with respect to any Quarterly Interest Period, the interest rate per annum (computed on the basis of the actual number of days in such Quarterly Interest Period over a year of 360 days) equal to Three-Month LIBOR for the related LIBOR Reset Period plus 0.08%.

Class A-1 Note Rate. For any Distribution Date and the applicable Interest Period, the lesser of (A) in any month up to and including the month in which the Clean-Up Call Date occurs, ___% per annum, and ___% thereafter; and (B) the Class A-1 Interest Rate Cap.

Class A-1 Note Rate means a per annum rate equal to [—]%, calculated on the basis of 30 days in the related Interest Period and a 360-day year.]

Class A-1 Note Rate. (based on [Note LIBOR Rate] [Adjusted Student Loan Rate])

Class A-1 Note Rate means, with respect to any Interest Period, a per annum rate equal to LIBOR as determined on the related Interest Determination Date plus [●]%.]

Class A-1 Note Rate. (A) For the first Interest Accrual Period, 5.24% and (B) for any Interest Accrual Period thereafter, the lesser of the Class A-1 Formula Note Rate and the Class A-1 Maximum Rate.

Class A-1 Note Rate means two and 220/1000 percent (2.220%) per annum based upon the actual number of days elapsed.