Note B Default Rate definition

Note B Default Rate means a rate per annum equal to the Note B Rate plus the Note Default Interest Spread.
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Note B Default Rate is defined in Section 2.2(B).
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Note B Default Rate means the Note B Rate plus the Note Default Interest Spread.
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Examples of Note B Default Rate in a sentence

  • If the Mortgage Loan is converted into a Foreclosure Property, for purposes of determining the Defaulted Mortgage Loan Purchase Price, interest will be deemed to continue to accrue on each B Note at the Note B Default Rate as if the Mortgage Loan were not so converted.


More Definitions of Note B Default Rate

Note B Default Rate means a rate per annum equal to the Note B Rate plus the Note Default Interest Spread. “Note B Holders” shall mean the Note B-1 Holder and the Note B-2 Holder; provided, however, that:
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Note B Default Rate means the lesser of (a) the highest rate allowable at law and (b) 5.00% above the Note B Rate.
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Related to Note B Default Rate

  • Post-Default Rate means, in respect of any principal of any Loan or any other Obligation that is not paid when due (whether at stated maturity, by acceleration, by optional or mandatory prepayment or otherwise), 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 four percent (4.0%).

  • 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 Default Interest Spread means, with respect to the outstanding principal balance of any Note, a rate per annum equal to the lesser of (i) the Maximum Legal Rate minus the Note A Rate or (ii) five percent (5%).