Class A-2B Note Interest Rate definition
Class A-2B Note Interest Rate means (i) if the Benchmark is 30-Day Average SOFR, the greater of (x) 30-Day Average SOFR for the related interest accrual period plus 0.37% per annum (computed on the basis of the actual number of days elapsed and a 360-day year) and (y) 0.00% or (ii) if the Benchmark is not 30-Day Average SOFR, the greater of (x) the applicable Benchmark Replacement for the related interest accrual period, computed on the basis of the actual number of days elapsed and a 360-day year, and (y) 0.00%.
Class A-2B Note Interest Rate means a rate per annum equal to Benchmark + 0.37%; provided, further, that for any interest accrual period for which the sum of Benchmark + 0.37% is less than 0.00%, the Class A-2B Note Interest Rate shall be deemed to be 0.00%.
Class A-2B Note Interest Rate means a rate per annum equal to One-Month LIBOR (as defined in the Indenture) + 0.27%
Examples of Class A-2B Note Interest Rate in a sentence
All determinations of the Class A-2B Note Interest Rate by the Indenture Trustee, in the absence of manifest error, will be conclusive and binding on the Noteholders.
During each Interest Period, this Class A-2B Note will bear interest at the Class A-2B Note Interest Rate.
During each Interest Accrual Period, this Class A-2B Note will bear interest at the Class A-2B Note Interest Rate.
So long as the Class A-2B Notes are Outstanding, the Indenture Trustee will determine the Class A-2B Note Interest Rate for each interest accrual period on the LIBOR Determination Date for such interest accrual period and shall promptly provide such rate to the Servicer or such person as directed by the Servicer.
More Definitions of Class A-2B Note Interest Rate
Class A-2B Note Interest Rate has the meaning specified in the Indenture.
Class A-2B Note Interest Rate means, for any Distribution Date, LIBOR for the Interest Period ending on but excluding such Distribution Date + 0.42% per annum.
Class A-2B Note Interest Rate means [Benchmark1 (as defined in the Indenture)] plus [__]%.]
Class A-2B Note Interest Rate means [LIBOR] plus [ ]%.]
Class A-2B Note Interest Rate means [Benchmark] plus [__]% per annum.]
Class A-2B Note Interest Rate means [LIBOR] plus [ ]% per annum.]
Class A-2B Note Interest Rate means One-Month LIBOR + 0.11% per annum; provided, that for the initial interest accrual period the Class A-2B Note Interest Rate will be 1.33611%; provided, further, that for any interest accrual period for which the sum of One-Month LIBOR + 0.11% is less than 0.00%, the Class A-2B Note Interest Rate shall be deemed to be 0.00%.