Net Note Rate definition
Net Note Rate means, with respect to each Note, the applicable Note Rate minus the Servicing Fee Rate.
Net Note Rate means with respect to any Note, the Initial Interest Rate for such Note minus the Servicing Fee Rate applicable to such Note.
Net Note Rate. With respect to any Herald Center Trust Subordinate Companion Loan Note, as of any date of determination, the Note Rate in effect for such Herald Center Trust Subordinate Companion Loan Note, minus the Administrative Cost Rate for the Herald Center Trust Subordinate Companion Loan.
Examples of Net Note Rate in a sentence
Each Mortgage Loan having a Net Note Rate of ____% per annum or greater.
For the purposes of Section 9.01, the Investor Rate for each Mortgage Loan will be applicable Net Note Rate therefor.
A fraction, expressed as a percentage, (a) for each Discount Mortgage Loan, the numerator of which is ____% minus the Net Note Rate and the denominator of which is ____% and (b) for each Premium Mortgage Loan, 0.0%.
More Definitions of Net Note Rate
Net Note Rate. For a Mortgage Loan, the related Mortgage Note Rate less the Servicing Fee. Non-PO Percentage. For any Mortgage Loan, the difference between (a) 100% and (b) the applicable PO Percentage.
Net Note Rate. As defined in Article XII.
Net Note Rate. For a Mortgage Loan, the related Mortgage Note Rate less the Servicing Fee.