Class B-2 Pass-Through Rate definition

Class B-2 Pass-Through Rate. For the first Distribution Date, 5.38000% per annum. For any Distribution Date thereafter, the lesser of (i) One-Month LIBOR plus the Class B-2 Margin, and (ii) the Net Rate Cap for such Distribution Date.

Class B-2 Pass-Through Rate. With respect to each Distribution Date, a per annum rate equal to the lesser of (i) the sum of One-Month LIBOR for that Distribution Date plus (A) on or prior to the first possible Optional Termination Date, 2.500% or (B) after the first possible Optional Termination Date, 3.750% and (ii) the Net Funds Cap.

Class B-2 Pass-Through Rate. For each Distribution Date, LIBOR as of the related LIBOR Determination Date, plus the Class B-2 Certificate Margin.

Examples of Class B-2 Pass-Through Rate in a sentence

• Interest will accrue on the Class B-2 Certificates during each Interest Accrual Period at the Class B-2 Pass-Through Rate.

• The Class B-2 Pass-Through Rate on each Distribution Date will be a rate per annum equal to the sum of one month LIBOR plus the Class B-2 Certificate Margin.

• If and to the extent any Specified Separation Taxes are determined regarding the failure of the Intended Tax Treatment, the Party allocated responsibility for Tax-Related Losses associated with such Specified Separation Taxes under Section 2.1 of this Agreement shall pay such Tax-Related Losses to New Worthington (if such responsible Party is Worthington Steel) or Worthington Steel (if such responsible Party is New Worthington) within five (5) days after written demand therefor.

• Interest will accrue on the Class B-2 Certificates during each Interest Accrual Period at a rate equal to the lesser of (i) the Class B-2 Pass-Through Rate and (ii) the WAC Cap for such Distribution Date.

• To determine if the observed action is a taggable event, a reason- able interpretation rule was used.

More Definitions of Class B-2 Pass-Through Rate

Class B-2 Pass-Through Rate. For each Distribution Date, the least of (i) LIBOR as of the related LIBOR Determination Date, plus the Class B-2 Certificate Margin, (ii) the Subordinate Rate Cap and (iii) the Subordinate Maximum Rate Cap.

Class B-2 Pass-Through Rate. A per annum rate equal to 7.525%.

Class B-2 Pass-Through Rate. With respect to the initial Interest Accrual Period (a) on or prior to the Optional Termination Date, the lesser of (i) [__________]% per annum and (ii) the Net Funds Cap, and (b) after the Optional Termination Date, the lesser of (i) [__________]% per annum and (ii) the Net Funds Cap.

Class B-2 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, the LIBOR Rate and (ii) for each Distribution Date thereafter, the LIBOR Rate plus 0.50% per annum, in each case subject to a cap equal to the Net WAC Rate Cap for such Distribution Date.

Class B-2 Pass-Through Rate. For any Distribution Date on or before the Initial Optional Termination Date, the least of (1) 6.250%, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date; and for any Distribution Date after the Initial Optional Termination Date, the least of (1) 6.750%, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.

Class B-2 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, One-Month LIBOR plus 1.90% per annum and (ii) for each Distribution Date thereafter, One-Month LIBOR plus 2.85% per annum, in each case subject to a cap equal to the related Net WAC Rate Cap for such Distribution Date; for federal income tax purposes, however, the equivalent of the foregoing, stated as the weighted average of the Uncertificated REMIC II Pass-Through Rate for REMIC II Regular Interest B-2, weighted on the basis of the Uncertificated Principal Balance thereof immediately prior to such Distribution Date.

Class B-2 Pass-Through Rate. For each Distribution Date, the least of (i) (a) on or prior to the Optional Termination Date, 6.0000% per annum and (b) following the Optional Termination Date, 6.5000% per annum, (ii) the Subordinate Net WAC Cap and (iii) the Subordinate Maximum Rate Cap.