Maximum Note Rate definition
Maximum Note Rate. The maximum rate of interest set forth in the Mortgage Note relating to an adjustable rate Mortgage Loan.
Maximum Note Rate means ten percent (10%).
Maximum Note Rate. The maximum mortgage interest rate eligible for inclusion in a Pool is a rate that is no greater than the sum of the pass-through rate, the guaranty fee and 250 basis points. REPRESENTATIONS The Lender makes the following representations in connection with each FHA Title I Mortgage delivered to ▇▇▇▇▇▇ ▇▇▇ pursuant to this Contract:
Examples of Maximum Note Rate in a sentence
For each Payment Date, the Note Rate for the Class IIA-1 Notes is the least of (i) LIBOR as of the related LIBOR Determination Date, plus the Class IIA-1 Note Margin, (ii) the Group II Pool Cap or (iii) the Maximum Note Rate.
If the market-clearing bid is a spread bid greater than the Fail Rate or if no bids for the Class A Notes or for only a portion of the Class A Notes are received by 1:00 PM New York time on the Bid Date, the Auction will be deemed to have failed, the Class A Notes will not be re-sold to Bidder, the Class A Note Rate will be reset to the Fail Rate, subject to the Maximum Note Rate, and the Class A Noteholders shall retain the Class A Notes.
More Definitions of Maximum Note Rate
Maximum Note Rate. With respect to the Group II Notes and any Payment Date, a fixed rate equal to 15.00% per annum.
Maximum Note Rate. With respect to each Class of the Group I, Group II, Group III and Group IV Notes, 11.25%, 10.50%, 9.75% and 11.00% per annum, respectively.
Maximum Note Rate. With respect to any Payment Date and the Adjustable Rate Notes, 11.500% per annum. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.
Maximum Note Rate means, with respect to the Notes, the lesser of 12% per annum and the Maximum Lawful Rate.
Maximum Note Rate. With respect to any Payment Date and the Notes (other than the Class IO Notes), ____% per annum.
Maximum Note Rate means the lesser of 12% per annum and the Maximum Lawful
Maximum Note Rate means, as of any date of determination, the highest of the Class A-1 Note Interest Rate, the Class A-2 Note Interest Rate, the Class A-3 Note Interest Rate and the Class B Note Interest Rate.