Note A-1 Default Rate definition
Note A-1 Default Rate means a rate per annum equal to the Note A-1 Rate plus the Note Default Interest Spread.
Default Rate means an interest rate equal to (a) the Base Rate plus (b) the Applicable Rate, if any, applicable to Base Rate Loans plus (c) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, in each case to the fullest extent permitted by applicable Laws.
Note A Rate means the Note A Rate set forth on the Mortgage Loan Schedule.
Post-Default Rate means, (a) in respect of any principal of any Loan or any Reimbursement Obligation, the rate otherwise applicable plus an additional two percent (2.0%) per annum, and (b) with respect to any other Obligation, a rate per annum equal to the Base Rate as in effect from time to time plus the Applicable Margin for Base Rate Loans plus two percent (2.0%).
Default Rate Interest is defined in Section 3.1(b)(ix) of this Agreement.
Net Note A Rate means the Note A Rate minus the Servicing Fee Rate.