Class M-1 Pass-Through Rate definition

Class M-1 Pass-Through Rate. For the first Distribution Date, ____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-1 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

Class M-1 Pass-Through Rate. For each Distribution Date, the lesser of (a) One-Month LIBOR as of the related LIBOR Determination Date, plus the Class M-1 Certificate Margin and (b) the Pool Maximum Rate Cap.

Class M-1 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, the lesser of (1) One-Month LIBOR plus 0.320% per annum and (ii) 11.00% per annum and (ii) for each Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus 0.480% per annum and (ii) 11.00% per annum, in each case subject to a cap equal to the related Net Rate Cap for such Distribution Date.

Examples of Class M-1 Pass-Through Rate in a sentence

• The Class M-1 Pass-Through Rate on each Distribution Date will be a rate per annum equal to the sum of one month LIBOR plus the Class M-1 Certificate Margin.

• The Class M-1 Pass-Through Rate on the Class M-1 Certificates on each Distribution Date will be the per annum rate specified above.

• Interest will accrue on the Class M-1 Certificates during each Interest Accrual Period at a rate equal to the lesser of (i) the Class M-1 Pass-Through Rate and (ii) the WAC Cap for such Distribution Date.

• The Class M-1 Pass-Through Rate on each Distribution Date will be a rate per annum equal to the lesser of (i) the sum of one month LIBOR plus the Class M-1 Certificate Margin and (ii) the related Rate Cap for such Distribution Date.

• The Class M-1 Pass-Through Rate on each Distribution Date will be a rate per annum equal to the lesser of (i) the sum of one month LIBOR plus the Class M-1 Certificate Margin and (ii) the Rate Cap for such Distribution Date.

More Definitions of Class M-1 Pass-Through Rate

Class M-1 Pass-Through Rate. With respect to any Interest Accrual Period, will be a per annum rate equal to the lesser of (i) the sum of LIBOR plus the related Certificate Margin and (ii) the Net Funds Cap.

Class M-1 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, _____% per annum and (ii) for each Distribution Date thereafter, _____% per annum[, in each case subject to a cap equal to the Net WAC Rate Cap for such Distribution Date].

Class M-1 Pass-Through Rate. With respect to each Distribution Date, the least of:

Class M-1 Pass-Through Rate. The lesser of (x) with respect to each Interest Period ending on or prior to the Clean-Up Call Date, 7.193%, and for each Interest Period thereafter, 7.693% and (y) the Available Funds Cap.

Class M-1 Pass-Through Rate means (i) with respect to each Distribution Date which occurs on or prior to the Optional Termination Date, 5.254% per annum and (ii) with respect to each Distribution Date which occurs thereafter, 5.754% per annum, in each case subject to a cap equal to the Net WAC Rate Cap for such Distribution Date.

Class M-1 Pass-Through Rate. With respect to any Distribution Date, the lesser of (1) for any Distribution Date which occurs on or prior to the Clean-Up Call Date, the per annum rate equal to 6.442%, and for any Distribution Date thereafter, the per annum rate equal to 6.942% and (2) the Net WAC Cap for such Distribution Date.

Class M-1 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, One-Month LIBOR plus 0.67% per annum and (ii) for each Distribution Date thereafter, One-Month LIBOR plus 1.005% 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 M-1, weighted on the basis of the Uncertificated Principal Balance thereof immediately prior to such Distribution Date.