Risk Interest Spread definition

Risk Interest Spread means the Initial Risk Interest Spread; provided, that if the Ceding Insurer elects a Variable Reset for (i) the second Annual Risk Period, the applicable Updated Risk Interest Spread for such Annual Risk Period will apply for the Premium Payment Periods (or portions thereof) relating to the second Annual Risk Period and (ii) for the third Annual Risk Period, the applicable Updated Risk Interest Spread for such Annual Risk Period will apply for the Premium Payment Periods (or portions thereof) relating to the third Annual Risk Period. For the avoidance of doubt, if more than one Risk Interest Spread applies to an Premium Payment Period, interest for such Premium Payment Period will be calculated on a pro rata basis using the Interest Calculation Convention based on the number of calendar days during which each such Risk Interest Spread is applicable.
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Risk Interest Spread means the Initial Risk Interest Spread; provided that if the Ceding Insurer elects a Variable Reset with respect to an Annual Risk Period, the applicable Updated Risk Interest Spread will apply for each Accrual Period that begins in such Annual Risk Period. If a Substitute Reset occurs with respect to an Annual Risk Period, no Risk Spread Calculation will be performed and the Risk Interest Spread that will apply for each Accrual Period that beings in such Annual Risk Period will be the Risk Interest Spread that was applicable for the immediately preceding Annual Risk Period.
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Examples of Risk Interest Spread in a sentence

  • Using the Updated Projected Exposure Data as of the applicable Calculation Date, the Updated Stated Reinsurance, if any, the Updated Loss Adjustment Expense Factor, if any, and the Escrow Loss Probability Model (based on the Base Case analysis), the Reset Agent will reset (each, a “Reset”) effective as of the Reset Effective Date, the Attachment Point, Exhaustion Point, Risk Interest Spread, if applicable, and Insurance Percentage, using the following procedures.

  • The Reset Agent will notify the Reinsurer and the Ceding Insurer of the respective Updated Attachment Point, Updated Exhaustion Point, Updated Insurance Percentage and Updated Modeled Projected Attachment Probability, and in the case of a Variable Reset, the respective Updated Modeled Projected Expected Loss and Updated Risk Interest Spread, no later than the May 10 immediately prior to the relevant Reset Effective Date (each, a “Reset Report”).

Related to Risk Interest Spread

  • Class A-1 Interest Rate means [ ]% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).

  • Note Default Interest Spread means, with respect to the outstanding principal balance of any Note, a rate per annum equal to the lesser of (i) the Maximum Legal Rate minus the Note A Rate or (ii) five percent (5%).

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Note Interest Rate means a per annum rate equal to 0.02% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

  • Class B-4 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-4 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-4 Certificates on such Distribution Date pursuant to Paragraph fourteenth of Section 4.01(a).