Component Interest Rate definition
Examples of Component Interest Rate in a sentence
Except for the A2(1) Component and the A2(2) Component, the rate set forth in the chart under the definition of "Component." The Component Interest Rate for each of the A2(1) Component and the A2(2) Component for the initial Accrual Period will be an annual rate of 2.39%, and thereafter, will be an annual rate equal to the lesser of (1) LIBOR plus 0.55% and (2) 9.00%, subject to a minimum rate of 0.55%.
The Component Interest Rate of the A3(1) and A3(2) Components is as set forth in the Preliminary Statement under the caption “REMIC 3”, footnote (4), following the table set forth therein.
The Principal Components evidenced by the Certificates shall be payable on the Principal Payment Dates and shall evidence interest at the following rates: Principal Payment Date ( 1) Principal Component Interest Rate The Interest Components evidenced by the Certificates shall be payable on each Interest Payment Date, commencing , 20 .
The amounts paid to Noteholders shall be paid to the Notes and the B Component in accordance with the applicable percentage as set forth in the definition of Note Rate and Component Interest Rate, respectively.
Each Lender shall apply the balance of each such payment in the following order: (i) to any interest accrued at the applicable Default Rate, (ii) to the payment of accrued and unpaid interest at the Revolving Loan Component Interest Rate, and (iii) to the reduction of the principal balance of such Lender's outstanding Loans.