Determination of Note Rate Sample Clauses
The Determination of Note Rate clause defines how the interest rate applicable to a note is established and adjusted over time. Typically, this clause outlines the reference rate or index used, any applicable margins, and the frequency at which the rate is reviewed or reset, such as monthly or annually. By specifying the method for calculating the note rate, this clause ensures transparency and predictability for both parties, reducing the risk of disputes over interest charges.
Determination of Note Rate. On the second LIBOR Business Day immediately preceding (i) the Closing Date in the case of the first Interest Period and (ii) the first day of each succeeding Interest Period, the Indenture Trustee shall determine LIBOR and the applicable Note Rate for such Interest Period and shall inform the Issuer, the Servicer and the Depositor by means of the Indenture Trustee's online service.
Determination of Note Rate. On each Interest Determination Date, the Indenture Trustee shall determine One-Month LIBOR and the related Note Rate for each Class of Notes for the following Interest Accrual Period. The establishment of One-Month LIBOR on each Interest Determination Date by the Indenture Trustee and the Indenture Trustee's calculation of the rate of interest applicable to each Class of Notes for the related Accrual Period shall (in the absence of manifest error) be final and binding.
Determination of Note Rate. The Indenture Trustee shall determine One-Month LIBOR and the applicable Note Rate for each Class of the Class A-1 Notes for each Interest Period as of the second LIBOR Business Day immediately preceding (i) the Closing Date in the case of the first Interest Period for the Notes and (ii) the first day of each succeeding Interest Period for the Notes, and shall inform the Issuer, the Servicer and the Depositor by means of the Indenture Trustee's online service.
Determination of Note Rate. On each Interest Determination Date, the Securities Administrator shall determine One-Month LIBOR and the related Note Rate for each Class of Notes for the following Accrual Period. The establishment of One-Month LIBOR on each Interest Determination Date by the Securities Administrator and the Securities Administrator’s calculation of the rate of interest applicable to each Class of Notes for the related Accrual Period shall (in the absence of manifest error) be final and binding.
Determination of Note Rate. Until the Outstanding Principal Balance of each Class of Offered Notes has been reduced to zero, the Indenture Trustee shall determine LIBOR, the Class A Note Interest Rate, the Class B Note Interest Rate, the Class C Note Interest Rate and the Class D Note Interest Rate for such Classes of Notes for each Interest Accrual Period as provided in Section 7.06 of the Transfer and Servicing Agreement and shall inform the Issuer, the Trust Depositor and the Servicer at their respective email addresses given to the Indenture Trustee in writing thereof. Any such determination by the Indenture Trustee of the amount of interest distributable on the Offered Notes shall be binding on the parties absent manifest error.
Determination of Note Rate. Until the Outstanding Principal Balance of each Class of Notes has been reduced to zero, the Indenture Trustee shall determine LIBOR, the Class A Note Interest Rate and the Class B Note Interest Rate for each Class of Notes for each Interest Accrual Period as provided in Section 7.06 of the Transfer and Servicing Agreement and shall inform the Issuer, the Trust Depositor and the Servicer at their respective email addresses given to the Indenture Trustee in writing thereof. Any such determination by the Indenture Trustee of the amount of interest distributable on the Class A Notes and the Class B Notes shall be binding on the parties absent manifest error.
Determination of Note Rate. 22 Section 3.23. RESTRICTED PAYMENTS............................................................................22 Section 3.24. NOTICE OF EVENTS OF DEFAULT....................................................................22 Section 3.25. FURTHER INSTRUMENTS AND ACTS...................................................................22 Section 3.26. STATEMENTS TO NOTEHOLDERS......................................................................22 Section 3.27. [RESERVED].....................................................................................22 Section 3.28. CERTAIN REPRESENTATIONS REGARDING THE TRUST ESTATE.............................................22 Section 3.29. ALLOCATION OF REALIZED LOSSES..................................................................24 Section 3.30.
Determination of Note Rate. On each Interest Determination Date, the Indenture Trustee shall determine One-Month LIBOR and the related Note Rate for each Class of Notes (other than the Class C Notes), for the following Accrual Period and shall inform the Issuing Entity, the Master Servicer, and the Depositor at their respective facsimile numbers given to the Indenture Trustee in writing thereof. The establishment of One-Month LIBOR on each such Interest Determination Date by the Indenture Trustee and the Indenture Trustee’s calculation of the rate of interest applicable to each Class of Notes (other than the Class C Notes) for the related Accrual Period shall (in the absence of manifest error) be final and binding.
Determination of Note Rate. The Note Rate shall be determined by each Managing Agent and provided to the Servicer, the Indenture Trustee, the Issuer and the Administrative Agent, in accordance with the terms of Section 2.3(g) of the Note Purchase Agreement.
Determination of Note Rate. Until the Class Principal Balance of -------------------------- the Notes has been reduced to zero, the Indenture Trustee shall determine LIBOR and the Note Rate for each Accrual Period as provided in the Sale and Servicing Agreement.