Rate Ceiling definition

Rate Ceiling. The maximum per annum Mortgage Interest Rate permitted under the related Mortgage Note.

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Rate Ceiling. The maximum per annum Mortgage Interest Rate permitted under the related Mortgage Note. Rating Agency: Initially, each of S&P and ▇▇▇▇▇’▇ and thereafter, each nationally recognized statistical rating organization that has rated the Certificates at the request of the Company, or their respective successors in interest. Ratings: As of any date of determination, the ratings, if any, of the Certificates as assigned by the applicable Rating Agencies.

Rate Ceiling. With respect to any ARM Loan, the maximum per annum Mortgage Interest Rate permitted under the related Mortgage Note.

Examples of Rate Ceiling in a sentence

• Adjustable Rate Mortgages (ARMs) Numeric – Decimal 0.02 9.999999 ARMs Only >= 0 and <= 1 99=no cap 51 Lifetime Maximum Rate (Ceiling) The maximum interest rate that can be in effect during the life of the loan.

• Scholarship awards shall be equal to the Dual Credit Tuition Rate Ceiling.

• The University of Louisville agrees to charge no more than the Dual Credit Tuition Rate Ceiling, equal to one-third (1/3) of Kentucky Community and Technical College in-state tuition rate per credit hour for those students not covered by either the Dual Credit Scholarship or the Work Ready Kentucky Scholarship.

• DCS awards shall be equal to the amount charged by a participating institution, not to exceed the Dual Credit Tuition Rate Ceiling.

• All payments under this Agreement, consisting of child care subsidies, shall not exceed appropriate Regional Market Rate Ceiling for California Child Care Providers for 1 of infant (birth – 24 months) slots and 1 of preschool (2-5 years and 11 months) slots allocated to Contractor, and shall be limited to reimbursement as specified in Attachment A, which is made a part of the Agreement.

• Adjustable Rate Mortgages (ARMs) Numeric – Decimal 0.02 9.999999 ARMs Only >= 0 and <= 1 51 Lifetime Maximum Rate (Ceiling) The maximum interest rate that can be in effect during the life of the loan.

• Utility's A.B. 265 undercollection balancing account is sometimes referred to herein as Utility's "Energy Rate Ceiling Revenue Shortfall Account" or "ERCRSA." The adjustments and reductions of the balance in ERCRSA as contemplated in this MOU will require the adoption of certain of the CPUC Implementing Decisions described herein to become effective.

• For any Distribution Date, the Adjusted Loan Group 1 Weighted Average Pass-Through Rate and Adjusted Loan Group 2 Weighted Average Pass-Through Rate, respectively, modified as follows: for purposes of calculating the Pass-Through Rate for each related Mortgage Loan, the Rate Ceiling for such Mortgage Loan will be substituted for the Mortgage Interest Rate for such Mortgage Loan.

• For purposes of determining the Maximum Rate, the Indicated Rate Ceiling specified in Texas Revised Civil Statutes, Article 5069-1.04 shall be used; however, if permitted by applicable Law, Lender may implement any ceiling under that law used to compute the rate of interest hereunder by notice to Maker as provided in such article.

• The Fuel Burn Penalty Payment shall be calculated as follows: Fuel Burn Penalty Payment = [(total fuel expense/actual fuel price) / scheduled Block Hours – Burn Rate Ceiling] * completed scheduled Block Hours * actual fuel price + applicable M▇▇▇-up on fuel overpayment.

More Definitions of Rate Ceiling

Rate Ceiling means a cents per gallon upper limit on the tax rate determined by the department and imposed on gasoline or diesel fuel under section 8(1)(a) and (b). Beginning with the rate in effect on October 1, 2015, rate ceiling means, for each rate determined under section 8(1), the sum of the rate floor for the applicable period plus 5 cents per gallon.

Rate Ceiling. The maximum per annum Mortgage Interest Rate permitted under the related Mortgage Note and indicated on the Mortgage Loan Schedule. Rating Agency: Each of Fitch and S&P. If either such organization or a successor is no longer in existence, "Rating Agency" shall be such nationally recognized statistical rating organization, or other comparable Person, as is designated by the Depositor, notice of which designation shall be given to the Trustee, the Master Servicer and the Securities Administrator. References herein to a given rating or rating category of a Rating Agency shall mean such rating category without giving effect to any modifiers.

Rate Ceiling. For each Adjustable-Rate Mortgage Loan, the maximum per annum Mortgage Interest Rate permitted under the related Mortgage Note and indicated on the Mortgage Loan Schedule.

Rate Ceiling means a cents per gallon upper limit on the

Rate Ceiling. Any lifetime maximum interest rate specified in a Mortgage Note.