Class M-2 Pass-Through Rate definition

Class M-2 Pass-Through Rate. For the first Distribution Date, 5.6800% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class M-2 Margin, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.

Class M-2 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-2 Certificate Margin and (b) the Pool Maximum Rate Cap.

Class M-2 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 0.380% per annum and (ii) 11.00% per annum and (ii) for each Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus 0.570% 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-2 Pass-Through Rate in a sentence

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

• The Class M-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 M-2 Certificate Margin.

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

• In this regard, we researched for Hong Kong Main Board listed companies which are principally engaged in similar line of businesses as the Group, being the production, transportation and sales of coal in the PRC, and derived more than 50% of their turnover from such businesses in aggregate, based on their respective latest published financial information immediately before the board meeting in respect of Rule 3.7 Announcement, for comparison.

• The Class M-2 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-2 Certificate Margin and (ii) the Rate Cap for such Distribution Date.

More Definitions of Class M-2 Pass-Through Rate

Class M-2 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-2 Pass-Through Rate. With respect to each Distribution Date, the least of:

Class M-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, 0.460% or (B) after the first possible Optional Termination Date, 0.690% and (ii) the applicable Net Funds Cap.

Class M-2 Pass-Through Rate. The lesser of (x) with respect to each Interest Period ending on or prior to the Clean-Up Call Date, 6.89%, and for each Interest Period thereafter, 7.39% and (y) the Available Funds Cap.

Class M-2 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, One-Month LIBOR plus 1.20% per annum and (ii) for each Distribution Date thereafter, One-Month LIBOR plus 1.80% 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-2, weighted on the basis of the Uncertificated Principal Balance thereof immediately prior to such Distribution Date.

Class M-2 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, 5.459% per annum and (ii) for each Distribution Date thereafter, 5.959% per annum, in each case subject to a cap equal to the Net WAC Rate Cap for such Distribution Date.

Class M-2 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 7.423%, and for any Distribution Date thereafter, the per annum rate equal to 7.923% and (2) the Net WAC Cap for such Distribution Date.