Subordinate Rate Cap definition

Subordinate Rate Cap. With respect to any Distribution Date, a per annum rate equal to the weighted average of the Group I Available Funds Cap and the Group II Net Rate Cap (as adjusted to reflect the actual number of days in the related Interest Accrual Period), weighted on the basis of the Group I Group Subordinate Amount and the Group II Group Subordinate Amount, respectively.
View Source

Examples of Subordinate Rate Cap in a sentence

  • The Class B-4 Pass-Through Rate on each Distribution Date will be a rate per annum equal to the least of (i) the Class B-4 Pass-Through Rate (ii) the Subordinate Rate Cap and (iii) the Subordinate Maximum Rate Cap.

  • The Class B-6 Pass-Through Rate on each Distribution Date will be a rate per annum equal to the least of (i) the Class B-6 Pass-Through Rate (ii) the Subordinate Rate Cap and (iii) the Subordinate Maximum Rate Cap.