Common use of Determination of Pass-Through Rates for LIBOR Certificates Clause in Contracts

Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Markets) (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices.)

Appears in 6 contracts

Sources: Pooling and Servicing Agreement (First Horizon Asset Securities Inc), Pooling and Servicing Agreement (First Horizon Asset Securities Inc), Pooling and Servicing Agreement (First Horizon Asset Securities Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (aA) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Markets) (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices.)

Appears in 5 contracts

Sources: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Markets) (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices.)

Appears in 3 contracts

Sources: Pooling and Servicing Agreement (First Horizon Asset Securities Inc), Pooling and Servicing Agreement (First Horizon Asset Securities Inc), Pooling and Servicing Agreement (First Horizon Asset Securities Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Jones Markets) (or such other page as may replace that page on that service tha▇ ▇▇▇vice for the purpose of displaying comparable rates or prices.)

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (aA) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Jones Markets) (or such other page as may ▇▇ ▇ay replace that page on that service for the purpose of displaying comparable rates or prices).)

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (aA) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Jones Markets) (or such other page as may replace that page on pa▇▇ ▇▇ that service for the purpose of displaying comparable rates or prices.)

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Jones Markets) (or such other page as may replace that page on that service tha▇ ▇▇▇vice for the purpose of displaying comparable rates or prices).)

Appears in 2 contracts

Sources: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (aA) On each Interest Determination Date so long as any the LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ MarketsMarkets (formerly Telerate Service) (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices.)

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Cwabs Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (aA) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Jones Markets) (or such other page as pag▇ ▇▇ may replace that page on that service for the purpose of displaying comparable rates or prices.)

Appears in 1 contract

Sources: Pooling and Servicing Agreement (CWMBS Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Jones Markets) (or such other page as may replace that page on that ▇▇▇▇ service for the purpose of displaying comparable rates or prices.)

Appears in 1 contract

Sources: Pooling and Servicing Agreement (CWMBS Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (aA) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Jones Markets) (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices.)

Appears in 1 contract

Sources: Pooling and Servicing Agreement (CWMBS Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (aA) On each Interest Determination Date so long as any the LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ MarketsTelerate Service) (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices.)) If on the initial LIBOR Determination Date, the Trustee is required but unable to determine LIBOR in the manner provided in the described above, LIBOR for the next Interest Accrual Period will be 5.375%.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (CWMBS Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (aA) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Jones Markets) (or such other page as may replace that page on that service tha▇ ▇▇▇vice for the purpose of displaying comparable rates or prices).)

Appears in 1 contract

Sources: Pooling and Servicing Agreement (CWMBS Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (aA) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Jones Markets) (or such other page as may replace re▇▇▇▇▇ that page on that service for the purpose of displaying comparable rates or prices.)

Appears in 1 contract

Sources: Pooling and Servicing Agreement (CWMBS Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Jones Markets) (or such other page as may replace that page on that service t▇▇▇ ▇ervice for the purpose of displaying comparable rates or prices.)

Appears in 1 contract

Sources: Pooling and Servicing Agreement (CWMBS Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow J▇▇▇▇ Markets) (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices.)

Appears in 1 contract

Sources: Pooling and Servicing Agreement (First Horizon Asset Securities Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (a) On each Interest Determination Date so long as any the LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ MarketsMarkets (formerly Telerate Service) (or such other page as may replace that page on that service for the purpose of displaying comparable rates or prices.)

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Cwabs Inc)

Determination of Pass-Through Rates for LIBOR Certificates. (aA) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. Interest Settlement Rates currently are based on rates quoted by sixteen BBA designated banks as being, in the view of such banks, the offered rate at which deposits are being quoted to prime banks in the London interbank market. Such Interest Settlement Rates are calculated by eliminating the four highest rates and the four lowest rates, averaging the eight remaining rates, carrying the result (expressed as a percentage) out to six decimal places, and rounding to five decimal places. "Telerate Page 3750" means the display page currently so designated on the Bridge Telerate Service (formerly the Dow ▇▇▇▇▇ Jones Markets) (or such other page as may replace that page on that service tha▇ ▇▇▇vice for the purpose of displaying comparable rates or prices.)

Appears in 1 contract

Sources: Pooling and Servicing Agreement (CWMBS Inc)