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This work investigates the response of thermoplastic composites under impact loading. Panels fabricated with the material system under consideration – carbon fiber reinforced low melt semi-crystalline resin TC1225 LMPAEK T700G (T700/LMPAEK) – were subject to impact with an Aluminum projectile, at low and high velocities. At lower velocities, the projectile rebounded from the panel after impact and caused damage e.g. delaminations. Finite element models were developed to model this test using LS-DYNA®, with material model MAT299, a continuum damage model based on the LaRC04 criteria, to capture the dynamic response and damage modes in the T700/LMPAEK panels. Interlaminar delaminations were modeled using the cohesive contact formulation available within LS-DYNA. Previous work by the authors showed that delaminations were consistently underpredicted in size, relative to the test. It was surmised that this was due to effects of strain rate on intralaminar and interlaminar response of the T700/LMPAEK material system. Therefore, the current work is focused on incorporating strain rate effects in modeling the interlaminar response. Rate dependence was incorporated using ‘one-way tie-break contact’ in LS-DYNA, wherein, the Mode-II fracture toughness of the LMPAEK resin, G IIc , was assumed to be an exponential function of the strain rate. In particular, G IIc , was modeled to exponentially decrease at higher strain rates. Models with this form of rate dependence favorably correlated with experimental data regarding delamination extent and rebound velocity, relative to prior models without strain rate effects.