Rate Floor definition

Rate Floor. The minimum per annum Mortgage Interest Rate permitted under the related Mortgage Note. Rating Agency: Initially, each of S&P and Xxxxx’x 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 Floor means, for each Facility and each Class and Type, the applicable rate floor set forth on the Facilities Schedule for such Facility.

Rate Floor. The minimum per annum Mortgage Interest Rate permitted under the related Mortgage Note.

Examples of Rate Floor in a sentence

• The Approximate Weighted Average Servicing Fee Margin is included in the rates shown in the columns for Approximate Weighted Average Gross Interest Rate, Approximate Weighted Average Gross Margin, Approx- imate Weighted Average Gross Lifetime Interest Rate Floor and Approximate Weighted Average Gross Lifetime Interest Rate Cap.

• If a Rate Default is not otherwise specified, the Rate Floor shall serve as the Rate Default.

• The Mortgage Margin, lifetime Mortgage Loan interest rate cap and lifetime Mortgage Loan interest rate floor will equal the related Certificate Margin, Lifetime Certificate Interest Rate Cap and Lifetime Certificate Interest Rate Floor, as applicable, plus the Servicing and Guar- anty Fee Rate, each as shown in Exhibit C.

• If a Rate Default is not otherwise specified, the Rate Floor should serve as the Rate Default.

• The notional amount of the Interest Rate Floor serves merely to calculate the respective compensation payment.

More Definitions of Rate Floor

Rate Floor means a rate that is the greater of:

Rate Floor means, for index-based capacity release transactions, the lowest rate specified in the capacity release offer in dollars and cents that is acceptable to Releasing Customer. The Rate Floor may not be less than Egan Hub's minimum reservation rate or zero cents when there is no stated minimum reservation rate.

Rate Floor has the meaning set forth in Section 3.1 of the Loan Agreement.

Rate Floor. The minimum per annum Mortgage Interest Rate permitted under the related Mortgage Note and indicated on the Mortgage Loan Schedule. Rating Agency: Each of Fitch, S&P and DBRS. If any 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 and the Servicer. 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 Floor. With respect to any ARM Loan, the minimum per annum Mortgage Interest Rate, if any, permitted under the related Mortgage Note.

Rate Floor means the greater of:

Rate Floor means, for index-based capacity release transactions, the term used to describe the lowest rate specified in the capacity release offer in dollars and cents that is acceptable to the releasing shipper. The Rate Floor may not be less than the Southern Trails’ minimum reservation rate or zero cents when there is no stated minimum reservation rate [NAESB WGQ 5.2.4].