Common use of Determination of MTA Clause in Contracts

Determination of MTA. MTA for any Interest Accrual Period will be determined as described below. MTA shall be established by the Trustee for each Interest Accrual Period. MTA is a per annum rate equal to the twelve-month moving average monthly yield on United States Treasury securities adjusted to a constant maturity of one year as published by the Federal Reserve Board in statistical Release No. H.15(519), or the Release, determined by averaging the monthly yield for the most recent twelve months. The MTA used for each Interest Accrual Period will be the most recent MTA figure available as of the related MTA Determination Date. If MTA is no longer available, the new index relating to the Class X Certificates will be LIBOR. The establishment of MTA by the Trustee and the Master Servicer's subsequent calculation of the Pass-Through Rates applicable to the Class A Certificates for the relevant Interest Accrual Period, in the absence of manifest error, will be final and binding. Promptly following each MTA Determination Date the Trustee shall supply the Master Servicer with the results of its determination of MTA on such date.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (RALI Series 2006-Qo5 Trust), Pooling and Servicing Agreement (RALI Series 2006-Qo5 Trust), Pooling and Servicing Agreement (RALI Series 2006-Qo5 Trust)

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Determination of MTA. MTA for any Interest Accrual Period will be determined as described below. MTA shall be established by the Trustee for each Interest Accrual Period. MTA is a per annum rate equal to the twelve-month moving average monthly yield on United States Treasury securities adjusted to a constant maturity of one year as published by the Federal Reserve Board in statistical Release No. H.15(519), or the Release, determined by averaging the monthly yield for the most recent twelve months. The MTA used for each Interest Accrual Period will be the most recent MTA figure available as of the related MTA Determination Date. If MTA is no longer available, the new index relating to for the Class X A Certificates will be LIBOR. The establishment of MTA by the Trustee and the Master Servicer's subsequent calculation of the Pass-Through Rates applicable to the Class A Certificates for the relevant Interest Accrual Period, in the absence of manifest error, will be final and binding. Promptly following each MTA Determination Date the Trustee shall supply the Master Servicer with the results of its determination of MTA on such date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (RALI Series 2006-Qo4 Trust)

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