Note Default Interest Rate definition
Note Default Interest Rate means, with respect to each Note, the “Note Default Interest Rate” for such Note as set forth in the Mortgage Loan Schedule.
Note Default Interest Rate shall have the meaning assigned to such term in the Loan Schedule.
Note Default Interest Rate means, with respect to each Note, the lesser of (i) the maximum allowable legal rate and (ii) 3% above the applicable Note Interest Rate.
Examples of Note Default Interest Rate in a sentence
Any amounts disbursed by ▇▇▇▇▇▇ pursuant to this paragraph 7, including any reasonable attorney’s fees and costs incurred by ▇▇▇▇▇▇, with interest thereon, at the Note Default Interest Rate, will become additional indebtedness of Borrower secured by this Mortgage.
Any amounts disbursed by ▇▇▇▇▇▇ pursuant to this paragraph 7, including any reasonable attorney’s fees and costs incurred by ▇▇▇▇▇▇, with interest thereon, at the Note Default Interest Rate, shall become additional indebtedness of Borrower secured by this Mortgage.