Adjusted Cap definition
Examples of Adjusted Cap in a sentence
For any Distribution Date, the Net Deferred Interest on the Mortgage Loans will be allocated among the Classes of Certificates in proportion to the excess, if any, for each such Class of (i) the Monthly Interest Distributable Amount accrued at the Pass-Through Rate for such Class, over (ii) the amount of the Monthly Interest Distributable Amount for such Class and for such Distribution Date calculated at the related Adjusted Cap Rate for such Class.
For any Distribution Date, the Net Deferred Interest on the Mortgage Loans will be allocated among the Classes of Certificates (or, with respect to the Class X Certificates, the PO Components) in proportion to the excess, if any, for each such Class of (i) the Monthly Interest Distributable Amount accrued at the Pass-Through Rate for such Class, over (ii) the amount of the Monthly Interest Distributable Amount for such Class calculated at the applicable Adjusted Cap Rate for such Class.
For any Distribution Date, the Net Deferred Interest on the Mortgage Loans will be allocated among the Classes of Certificates (or, with respect to the Class X Certificates, the Class PO Certificates) in proportion to the excess, if any, for each such Class of (i) the Monthly Interest Distributable Amount accrued at the Pass-Through Rate for such Class, over (ii) the amount of the Monthly Interest Distributable Amount for such Class calculated at the applicable Adjusted Cap Rate for such Class.
For any Distribution Date and the Class X-L Regular Interest, the Certificate Interest Rate for the Class X-L Regular Interest for that Distribution Date, computed for this purpose by substituting for clause (i) in the calculation thereof as specified in note (5) to the table entitled "REMIC II Interests" in the Preliminary Statement hereto the Adjusted Cap Rate for the Class A-L and Class ▇-▇ Regular Interests for that Distribution Date.
For any Distribution Date, Net Deferred Interest on the Mortgage Loans will be allocated to each Class of Certificates, other than the Class X Certificates, in an amount equal to the excess, if any, of the amount of interest that accrued on such Class of Certificates at (i) its respective Pass-Through Rate during the Interest Accrual Period related to that Distribution Date over (ii) the related Adjusted Cap Rate for the related Interest Accrual Period.
The Purchaser agrees (a) to draw upon each such Letter of Credit on an equal basis (unless, for any reason, either of the Qualifying Letters of Credit shall cease to be available before the L/C Expiration Date or the Adjusted Cap has been exhausted) and (b) to pay the reasonable bank fee (up to an aggregate amount equal to 2% of the face value of the Qualifying Letters of Credit per year) payable in respect of the Qualifying Letters of Credit.
For any Distribution Date, the Net Deferred Interest on the Mortgage Loans will be allocated among the Classes of Certificates in proportion to the excess, if any, for each such Class of (i) the Monthly Interest Distributable Amount accrued at the Pass-Through Rate for such Class, over (ii) the amount of the Monthly Interest Distributable Amount for such Class and for such Distribution Date calculated at the Adjusted Cap Rate for such Class.
After the first anniversary of the Closing Date, the aggregate amount of all Losses for which Buyer shall be liable pursuant to Section 8.6(a)(i) shall not exceed the Adjusted Cap; provided that Seller Indemnitees have not incurred Losses in an aggregate amount in excess of the Adjusted Cap prior to the first anniversary of the Closing Date.
For any Distribution Date, the Net Deferred Interest on the Mortgage Loans will be allocated among the Classes of Certificates in proportion to the excess, if any, for each such Class of (i) the Monthly Interest Distributable Amount accrued at the Pass-Through Rate for such Class, over (ii) the amount of the Monthly Interest Distributable Amount for such Class calculated at the applicable Adjusted Cap Rate for such Class.
If as a result of such change, the Fully Burdened Manufacturing Cost exceeds the applicable Cap or Adjusted Cap, [***], notwithstanding anything to the contrary in this Agreement.