Class M-3 Pass-Through Rate definition

Class M-3 Pass-Through Rate. For the first Distribution Date, _____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-3 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.
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Class M-3 Pass-Through Rate. For each Distribution Date, the lesser of (a) One-Month LIBOR as of the related LIBOR Determination Date, plus the Class M-3 Certificate Margin and (b) the Pool Maximum Rate Cap.
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Class M-3 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, the lesser of (1) One-Month LIBOR plus 0.440% per annum and (ii) 11.00% per annum and (ii) for each Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus 0.660% per annum and (ii) 11.00% per annum, in each case subject to a cap equal to the related Net Rate Cap for such Distribution Date.
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Examples of Class M-3 Pass-Through Rate in a sentence

  • Interest will accrue on the Class M-3 Certificates during each Interest Accrual Period at the Class M-3 Pass-Through Rate.

  • The Class M-3 Pass-Through Rate on each Distribution Date will be a rate per annum equal to the lesser of (i) the sum of one month LIBOR plus the Class M-3 Certificate Margin and (ii) the related Rate Cap for such Distribution Date.

  • The Class M-3 Pass-Through Rate on each Distribution Date will be a rate per annum equal to the lesser of (i) the sum of one month LIBOR plus the Class M-3 Certificate Margin and (ii) the Rate Cap for such Distribution Date.

  • The Class M-3 Pass-Through Rate for each Distribution Date will be the lesser of (i) One-Month LIBOR as of the related LIBOR Determination Date, plus the Class M-3 Certificate Margin and (ii) the Pool Maximum Rate Cap.

  • The Class M-3 Pass-Through Rate on each Distribution Date will be as determined in accordance with the Agreement.


More Definitions of Class M-3 Pass-Through Rate

Class M-3 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, the lesser of (1) One-Month LIBOR plus 0.400% per annum and (ii) 11.00% per annum and (ii) for each Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus 0.600% per annum and (ii) 11.00% per annum, in each case subject to a cap equal to the related Net Rate Cap for such Distribution Date.
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Class M-3 Pass-Through Rate. For any Distribution Date, the lesser of (i) One-Month LIBOR plus the Class M-3 Margin and (ii) the Net Rate Cap for such Distribution Date.
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Class M-3 Pass-Through Rate. With respect to the initial Interest Accrual Period, based on a LIBOR determination date of March 24, 2005, 3.33% per annum. With respect to any Interest Accrual Period thereafter, will be a per annum rate equal to the lesser of (i) the sum of LIBOR plus the related Certificate Margin and (ii) the Net Funds Cap.
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Class M-3 Pass-Through Rate. With respect to each Distribution Date, the least of:
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Class M-3 Pass-Through Rate means (i) with respect to each Distribution Date which occurs on or prior to the Optional Termination Date, ____% per annum and (ii) with respect to each Distribution Date which occurs thereafter, ____% per annum, in each case subject to a cap equal to the Net WAC Rate Cap for such Distribution Date.
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Class M-3 Pass-Through Rate means (i) on any Distribution Date which occurs on or prior to the Optional Termination Date, One-Month LIBOR plus 1.40% per annum and (ii) for each Distribution Date thereafter, One-Month LIBOR plus 2.10% per annum, in each case subject to a cap equal to the related Net WAC Rate Cap for such Distribution Date; for federal income tax purposes, however, the equivalent of the foregoing, stated as the weighted average of the Uncertificated REMIC II Pass-Through Rate for REMIC II Regular Interest M-3, weighted on the basis of the Uncertificated Principal Balance thereof immediately prior to such Distribution Date.
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Class M-3 Pass-Through Rate. For each Distribution Date, the lesser of (i) the Class M-3 Fixed Rate Certificate Margin and (ii) the related Rate Cap for such Distribution Date.
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