Examples of Minimum Mortgage Interest Rate in a sentence
On each applicable Adjustment Date, the Mortgage Rate with respect to each Mortgage Loan shall be adjusted, in compliance with the requirements of the related Mortgage and Mortgage Note, to equal the sum of the Index plus the Gross Margin (rounded in accordance with the related Mortgage Note) subject to the applicable Periodic Rate Cap, Maximum Mortgage Interest Rate and Minimum Mortgage Interest Rate, as set forth in the Mortgage Note.
The Minimum Mortgage Interest Rate may be amended by the CBC and the Issuer, subject to Rating Agency Confirmation and prior consent of the Security Trustee.
The Servicing Agreement provides that following notification to the relevant Borrowers of the assignment of the Receivables, the Servicer, acting on behalf of the CBC, will only offer the relevant Borrowers an interest rate of at least the Minimum Mortgage Interest Rate, subject to the relevant mortgage loan agreement and applicable law (including but not limited to principles of reasonableness and fairness and applicable duties of care).
If the interest rate is set below the Minimum Mortgage Interest Rate, the difference between such interest rate and the Minimum Mortgage Interest Rate will be taken into account in the Asset Cover Test.
On each applicable Adjustment Date, the Mortgage Rate with respect to each adjustable rate Mortgage Loan shall be adjusted, in compliance with the requirements of the related Mortgage and Mortgage Note, to equal the sum of the Index plus the Gross Margin (rounded in accordance with the related Mortgage Note) subject to the applicable Periodic Rate Cap, Maximum Mortgage Interest Rate and Minimum Mortgage Interest Rate, as set forth in the Mortgage Note.