Note B Default Rate definition
Note B Default Rate means a rate per annum equal to the Note B Rate plus the Note Default Interest Spread.
Note B Default Rate means the lesser of (a) the highest rate allowable at law and (b) 5.00% above the Note B Rate.
Note B Default Rate means the Note B Rate plus the Note Default Interest Spread.
Examples of Note B Default Rate in a sentence
If the Mortgage Loan is converted into a Foreclosure Property, for purposes of determining the Defaulted Mortgage Loan Purchase Price, interest will be deemed to continue to accrue on each B Note at the Note B Default Rate as if the Mortgage Loan were not so converted.
More Definitions of Note B Default Rate
Note B Default Rate means a rate per annum equal to the Note B Rate plus the Note Default Interest Spread. “Note B Holders” shall mean the Note B-1 Holder and the Note B-2 Holder; provided, however, that:
Note B Default Rate is defined in Section 2.2(B).