Maximum Pay Rate definition

Maximum Pay Rate means, (A) with respect to a portion of the Loan in an amount equal to the Allocated Loan Amount for the Miami Property: (i) 7.23% through the Initial Maturity Date and (ii) from and after the Initial Maturity Date through the final Maturity Date the greater of (1) 7.23% and (2) the lesser of (x) the product of (x) 7.23%, and (y) a fraction, the numerator of which is Miami Net Operating Income for the most recently available twelve (12) month period prior to the later of (I) the date on which the applicable Extension Interest Rate Cap Agreement is purchased and (II) the date that is thirty (30) days prior to the applicable Maturity Date and the denominator of which is Closing Date Miami Net Operating Income and (y) 10.5% and (B) with respect to a portion of the Loan in an amount equal to the Allocated Loan Amount for the Chicago Property: (i) 9.17% through the Initial Maturity Date and (ii) from and after the Initial Maturity Date through the final Maturity Date greater of (1) 9.17% and (2) the lesser of (x) the product of (x) 9.17%, and (y) a fraction, the numerator of which is Chicago Net Operating Income for the most recently available twelve (12) month period prior to the later of (I) the date on which the applicable Extension Interest Rate Cap Agreement is purchased and (II) the date that is thirty (30) days prior to the applicable Maturity Date and the denominator of which is Closing Date Chicago Net Operating Income and (y) 10.50%.
Sample 1Sample 2Sample 3
Maximum Pay Rate means, (i) 6.40909% through the Initial Maturity Date and (ii) from and after the Initial Maturity Date through the final Maturity Date greater of (1) 6.40909% and (2) the lesser of (A) the product of (x) 6.40909%, and (y) a fraction, the numerator of which is Net Operating Income for the most recently available twelve (12) month period prior to the later of (I) the date on which the applicable Extension Interest Rate Cap Agreement is purchased and (II) the date that is thirty (30) days prior to the applicable Maturity Date and the denominator of which is Closing Date Net Operating Income and (B) 10.50%.
Sample 1
Maximum Pay Rate means, (A) the Initial LIBOR Cap Strike Rate through the Initial Maturity Date and (B) during the term of each Extension Option (as defined in the Mezzanine Note), the lesser of (i) the product of (x) 6% and (y) a fraction, the numerator of which is trailing twelve month Net Operating Income as of the end of the Initial Maturity Date (or First Extended Maturity Date) and the denominator of which is Closing Date NOI and (ii) the rate, which when added to the average of the LIBOR Margin (Mortgage) and the LIBOR Margin applicable to each of the Mezzanine Loans (such average weighted to reflect the size of the associated Loan or Mezzanine Loan, as applicable, as a percentage of the total combined outstanding principal balance of the Loan and Mezzanine Loans), equals 10.50%.
Sample 1

Examples of Maximum Pay Rate in a sentence

  • The Maximum Pay Rate Table sets forth maximum rates for which DHS will reimburse the Sponsoring Agency for compensation paid to Activated Affiliated Personnel and as Backfill for Activated System Members employed by or otherwise associated with a for- profit Participating Agency.(2) Higher rates.

  • This section establishes the process for creating and updating the Maximum Pay Rate Table (Table), and the Table’s use to reimburse Affiliated Personnel (Task Force Physicians, Task Force Engineers, and Canine Handlers) and Backfill for Activated System Members employed by or otherwise associated with a for- profit Participating Agency.

  • The Maximum Pay Rate Table does not apply to a System member whom a Sponsoring Agency or Participating Agency employs.Mobilization means the process ofassembling equipment and personnel in response to an Alert or Activation.Non-Exempt means any SystemMember who is covered by 29 U.S.C. 201 et seq.Rehabilitation means the process ofreturning personnel and equipment to a pre-incident state of readiness after DHS terminates an Activation.§ 208.33 Allowable costs.(a) Cost neutrality.

  • However, Sponsoring Agencies may use the rates in the Maximum Pay Rate Table as a guide for establishing compensation levels for such individuals.(4) Backfill expenses for AffiliatedPersonnel under § 208.39(g).

  • An employee of a Sponsoring Agency serving on a Task Force in a capacity other than his or her normal job, e.g., a fire department dispatcher affiliated with the Task Force as a ca- nine search specialist, as an Affiliated Personnel, would not necessarily be subject to the Maximum Pay Rate Table for reimbursement for salary and benefits for that individual.

  • Likewise, the Sponsoring Agency may choose to enter into a Participating Agency agreement with the individual’s employer, rather than use the individual as an Affiliated Personnel, in which case the Maximum Pay Rate Table would not apply.(3) Compensation for SponsoringAgency employees serving as Affiliated Personnel.

  • An employee of a Sponsoring Agency serving on a Task Force in a capacity other than his or her normal job, e.g., a fire department dispatcher affiliated with the Task Force as a canine search specialist, as an Affiliated Personnel, would not necessarily be subject to the Maximum Pay Rate Table for reimbursement for salary and benefits for that individual.

  • Guidelines:If the parent or Indian custodian requires translation or interpretation in a Native language, it is recommended that the court or party contact the Indian child’s Tribe or BIA for assistance.

  • The SponsoringAgency may choose to pay Affiliated Personnel at a higher rate, but DHS will not reimburse the increment above the maximum rate specified in the Maximum Pay Rate Table.

  • The Sponsoring Agency may choose to pay Affiliated Personnel at a higher rate, but DHS will not reimburse the increment above the maximum rate specified in the Maximum Pay Rate Table.


More Definitions of Maximum Pay Rate

Maximum Pay Rate means the cap rate in the interest rate cap agreement that is assigned to the Defeasance Borrower and pledged to the Lender.
Sample 1
Maximum Pay Rate means, (i) 6.25% through the Initial Maturity Date and (ii) from and after the Initial Maturity Date through the final Maturity Date greater of (1) 6.25% and (2) the lesser of (A) the product of (x) 6.25%, and (y) a fraction, the numerator of which is Net Operating Income for the most recently available twelve (12) month period prior to the later of (I) the date on which the applicable Extension Interest Rate Cap Agreement is purchased and (II) the date that is thirty (30) days prior to the applicable Maturity Date and the denominator of which is Closing Date Net Operating Income and (B) 10.50%.
Sample 1

Related to Maximum Pay Rate

  • Maximum Premium has the meaning set forth in Section 7.06(b).

  • Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Maximum Cap Rate For any Distribution Date with respect to the Group I Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group I Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Group II Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group II Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group II Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Mezzanine Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average (weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of the applicable Loan Group, the current Certificate Principal Balance of the related Class A Certificates) of the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans and the Group II Mortgage Loans, in each case, weighted on the basis of the outstanding Stated Principal Balances of the related Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12.

  • Penalty Rate means the Stated Rate plus two percent (2.00%) per annum of the Liquidation Price of each share of Series A Preferred Stock.

  • Maximum Advance Rate means 80.0%.

  • Maximum Put Amount means the lesser of (i) Two Hundred Fifty Thousand Dollars ($250,000), or (ii) Two Hundred Fifty percent (250%) of the average of the Dollar Volume for the twenty (20) Trading Days immediately preceding the Put Date.

  • Monthly Salary Rate means the amount agreed to by the Owner that can be used on Applications for Payment throughout the Construction Phase to account for the services of Construction Manager’s salaried personnel assigned to the Project. A Monthly Salary Rate must be established for each salaried person and must be approved in writing by the Owner in advance of any Application for Payment for that person. The Monthly Salary Rate is for convenience only and any payments made for Construction Manager’s personnel are subject to audit to determine the actual cost of the wages and allowable employer contributions incurred by the Construction Manager for services performed for the Project.

  • Day Rate means the rate per day per grade tendered by the Supplier in the Supplier’s proposal that shall never be exceeded within this Contract;

  • Capitalization Reimbursement Amount As to any Distribution Date, the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of the related Mortgage Loans during the prior calendar month and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date pursuant to Section 3.10(a)(vii), plus the Capitalization Reimbursement Shortfall Amount remaining unreimbursed from any prior Distribution Date and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date.

  • Maximum Loan Rate With respect to each Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Loan Rate thereunder.

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions:

  • Maximum Net Mortgage Rate As to any Mortgage Loan and any date of determination, the Maximum Mortgage Rate for such Mortgage Loan minus the per annum rate at which the Servicing Fee is calculated.

  • Maximum Limit means that number of issued Shares representing 10% of the total number of issued Shares as at the date of the passing of this Resolution (excluding any Shares which are held as treasury shares as at that date); and

  • additional rate means the additional rate levied by the City of Cape Town on rateable properties within the designated boundaries of the Special Rating Area for purposes of raising funds for improving and upgrading that area, subject to any exemptions or permissible differentiation between categories of property, as contemplated in section 22(1) of the Rates Act, read with sections 8(1) and 12(2) of the By-Law;

  • Adjusted One Month LIBOR Rate means, an interest rate per annum equal to the sum of (i) 1.00% per annum plus (ii) the Adjusted LIBO Rate for a one month Interest Period on such day (or if such day is not a Business Day, the immediately preceding Business Day); provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the Screen Rate at approximately 11:00 a.m. London time on such day.

  • Daily Adjusting LIBOR Rate means, for any day, a per annum interest rate which is equal to the quotient of the following:

  • ANNUAL RATE ADJUST: MONTHLY P&I : 1,758.65 OUTSIDE CONV DATE : LIFETIME RATE : 7.40000 MATURITY DATE : 12/01/27 CURRENT INT RATE: 7.40000 PRODUCT CODE : 002 LTV : 44.17300 ---------------------------------------------------------------- 0 0007659485 MORTGAGORS: XXXXXX XXXXX XXXXXX XXXXX REGION CODE ADDRESS : 3 WESTMINSTER 01 CITY : LAFAYETTE STATE/ZIP : XX 00000 MORTGAGE AMOUNT : 288,000.00 OPTION TO CONVERT : UNPAID BALANCE : 287,119.66 ANNUAL RATE ADJUST: MONTHLY P&I : 1,994.06 OUTSIDE CONV DATE : LIFETIME RATE : 7.40000 MATURITY DATE : 12/01/27 CURRENT INT RATE: 7.40000 PRODUCT CODE : 002 LTV : 80.00000 ---------------------------------------------------------------- - **** PAGE TOTALS ***** NUM OF LOANS: 5 LOAN AMT: 1,583,100.00 P & I AMT: 10,940.53 UPB AMT: 1,578,321.88 1 GE CAPITAL MORTGAGE SERVICES, INC. EXHIBIT C ISSUE DATE: 04/01/98 P.O. BOX 5260 TMS AG0004980830 01 PAGE: 10 XXXXXX XXXX, X.X. 00000 (000) 000-0000 0 ---------------------------------------------------------------- 0 0007659493 MORTGAGORS: XXXXXX XXXXXX REGION CODE ADDRESS : 000 X XXXXX XXXXX XXX 01 CITY : ANAHEIM STATE/ZIP : XX 00000 MORTGAGE AMOUNT : 380,000.00 OPTION TO CONVERT : UNPAID BALANCE : 378,849.94 ANNUAL RATE ADJUST: MONTHLY P&I : 2,644.02 OUTSIDE CONV DATE : LIFETIME RATE : 7.45000 MATURITY DATE : 12/01/27 CURRENT INT RATE: 7.45000 PRODUCT CODE : 002 LTV : 69.09000 ---------------------------------------------------------------- 0 0007659519 MORTGAGORS: XXXXXXX XXXXX REGION CODE ADDRESS : 000 XXXX XXXX 01 CITY : MILL VALLEY STATE/ZIP : XX 00000 MORTGAGE AMOUNT : 248,000.00 OPTION TO CONVERT : UNPAID BALANCE : 246,329.49 ANNUAL RATE ADJUST: MONTHLY P&I : 1,717.11 OUTSIDE CONV DATE : LIFETIME RATE : 7.40000 MATURITY DATE : 12/01/27 CURRENT INT RATE: 7.40000 PRODUCT CODE : 002 LTV : 75.15100 ---------------------------------------------------------------- 0 0007659527 MORTGAGORS: XXXX XXXXXXX

  • Applicable Utilization Fee means, as of any date that the aggregate Advances exceed 33% of the aggregate Commitments, a percentage per annum determined by reference to the Public Debt Rating in effect on such date as set forth below: -------------------------------- ----------------------------- Public Debt Rating Applicable S&P/Moody's Utilization Fee -------------------------------- ----------------------------- Level 1 BBB+ or Baa1 or above 0.125% -------------------------------- ----------------------------- Level 2 BBB or Baa2 0.250% -------------------------------- ----------------------------- Level 3 BBB- and Baa3 0.000% -------------------------------- ----------------------------- Level 4 BBB- or Baa3 0.000% -------------------------------- ----------------------------- Level 5 BB+ and Ba1 0.000% -------------------------------- ----------------------------- Level 6 Lower than Level 5 0.000% -------------------------------- -----------------------------

  • Minimum Payments $50 (with respect to all funds in the aggregate.) No payment pursuant to this Schedule is payable to a dealer, bank or other service provider for the first year with respect to sales of $1 million or more, at no load, in cases where A I M Distributors, Inc. has advanced the service fee to the dealer, bank or other service provider.

  • Minimum Payment means the amount of minimum payment as stated in the Fee Schedule;

  • Maximum Swingline Amount means $5,000,000.

  • Hourly Rate means the proposed fully loaded maximum hourly rates that include travel, per diem, fringe benefits and any overhead costs for contractor personnel, as well as subcontractor personnel if appropriate.

  • Six-Month LIBOR The average of interbank offered rates for six-month U.S. dollar deposits in the London market based on quotations of major banks.