Examples of Class M-3 Pass-Through Rate in a sentence

The Class M-3 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-3 Certificate Margin and (ii) the Rate Cap for such Distribution Date.
Interest will accrue on the Class M-3 Certificates during each Interest Accrual Period at the Class M-3 Pass-Through Rate.
The Class M-3 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-3 Certificate Margin and (ii) the related Rate Cap for such Distribution Date.
Interest will accrue on the Class M-3 Certificates during each Interest Accrual Period at a rate equal to the lesser of: (i) the Class M-3 Pass-Through Rate and (ii) the Pool Cap for such Distribution Date.
The Class M-3 Pass-Through Rate will be a per annum rate equal to the lesser of (i) the lesser of (a) One-Month LIBOR as of the related LIBOR Determination Date, plus the Class M-3 Certificate Margin and (b) the Maximum Cap Rate, and (ii) the Net WAC Cap.

More Definitions of Class M-3 Pass-Through Rate

Class M-3 Pass-Through Rate. For any Distribution Date, the lesser of (i) One-Month LIBOR plus the Class M-3 Margin and (ii) the Net Rate Cap for such Distribution Date.

Class M-3 Pass-Through Rate means (i) with respect to each Distribution Date which occurs on or prior to the Optional Termination Date, 5.850% per annum and (ii) with respect to each Distribution Date which occurs thereafter, 6.350% per annum, in each case subject to a cap equal to the Net WAC Rate Cap for such Distribution Date.

Class M-3 Pass-Through Rate. For the first Interest Accrual Period, 3.80875% per annum. For any subsequent Interest Accrual Period, the lesser of (i) (a) on or prior to the Optional Termination Date, the lesser of (1) LIBOR plus 1.90% per annum and (2) the Maximum Cap Rate, and (b) following the Optional Termination Date, the lesser of (1) LIBOR plus 2.85% per annum and (2) the Maximum Cap Rate, and (ii) the Net Adjusted WAC Rate for the related Distribution Date.

Class M-3 Pass-Through Rate. With respect to the first Distribution Date following the Closing Date, 3.390% per annum; with respect to each Distribution Date thereafter, a per annum rate equal to the least of (i) the sum of One-Month LIBOR for that Distribution Date plus (A) on or prior to the first possible Optional Termination Date, 1.55% or (B) after the first possible Optional Termination Date, 2.05%, (ii) the applicable Net Funds Cap and (iii) 11.00%.

Class M-3 Pass-Through Rate. With respect to each Distribution Date, the least of:

Class M-3 Pass-Through Rate. For any Distribution Date, the lesser of (i) One-Month LIBOR plus the Class M-3 Margin and (ii) the Net Rate Cap for such Distribution Date related to such Accrual Period.

Class M-3 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, One-Month LIBOR plus 1.40% per annum and (ii) for each Distribution Date thereafter, One-Month LIBOR plus 2.10% 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-3, weighted on the basis of the Uncertificated Principal Balance thereof immediately prior to such Distribution Date.