CP CAP definition
CP CAP means, for any Auction Date, the rate (for the then current Auction) at which the Quarterly Average Auction Rate equals the Quarterly Average CP Rate plus the Applicable CP Spread, such rate to be determined by the formula: N x (C + S) - R, Where N is the number of Auction Dates which precede the current Auction Date by 91 days or less, including the current Auction Date; C is the Quarterly Average CP Rate; S is the Applicable CP Spread; and, R is the sum of the Auction Rates for Auction Dates preceding the current Auction Date by 91 days or less, excluding the current Auction. "ELIGIBLE AUCTION RATE NOTES CARRY-OVER MAKE-UP AMOUNT" shall mean, (a) with respect to each Accrual Period relating to a Class of the Auction Rate Notes as to which, as of the first day of such Accrual Period, there is any unpaid Auction Rate Notes Carry-over Amount, an amount equal to the lesser of (i) interest computed on the principal balance of such Class of the Auction Rate Notes in respect to such Accrual Period at a per annum rate equal to the excess, if any, of the Net Loan Rate over the Auction Rate and (ii) the aggregate Auction Rate Notes Carry-over Amount remaining unpaid as of the first day of such Accrual Period together with interest accrued and unpaid thereon through the end of such Accrual Period and (b) with respect to with respect to each Accrual Period relating to a Class of the Class B Notes as to which, as of the first day of such Accrual Period, there is any unpaid Auction Rate Notes Carry-over Amount due to the occurrence and continuation of the Subordinate Interest Trigger and the Subordinate Interest Trigger is no longer continuing, an amount equal to such unpaid Auction Rate Notes Carry-over Amount.
CP CAP means, for any Auction Date, the rate (for the then current Auction) at which the Quarterly Average Auction Rate equals the Quarterly Average CP Rate plus the Applicable CP Spread, such rate to be determined by the formula:
CP CAP means, for any Auction Date, the rate (for the then-current Auction) at which the Quarterly Average Auction Rate equals the Quarterly Average CP Rate plus the Applicable CP Spread, such rate to be determined by the formula: where N is the number of Auction Dates which precede the current Auction Date by 91 days or less, including the current Auction Date; C is the Quarterly Average CP Rate; S is the Applicable CP Spread; and, R is the sum of the Auction Rates for Auction Dates preceding the current Auction Date by 91 days or less, excluding the current Auction.