Adjusted Net WAC. For any Distribution Date, the excess of (i) the Net WAC for such Distribution Date over (ii) the quotient of (a) the product of (I) the Net Deferred Interest for such Distribution Date multiplied by (II) 12, divided by (b) the Pool Balance for such Distribution Date.
Adjusted Net WAC. As to any Distribution Date, the fraction, expressed as a percentage, equal to (A) the sum of the product, for each Mortgage Loan, of (i) the Net Mortgage Interest Rate for such Mortgage Loan multiplied by (ii) the Stated Principal Balance of such Mortgage Loan on the Due Date of the month preceding the month of such Distribution Date divided by (B) the sum of the product, for each Mortgage Loan, of (i) the Non-Ratio Strip Percentage for such Mortgage Loan multiplied by (ii) the Stated Principal Balance of such Mortgage Loan on the Due Date of the month preceding the month of such Distribution Date.
Adjusted Net WAC. With respect to any Distribution Date, the weighted average (by Principal Balance) of the Net Mortgage Rates of the Mortgage Loans minus the sum of (i) the Interest Rate applicable to the Class IO Certificates for such date and (ii) the Adjusted Class F Rate for such date. Advances: Delinquency Advances and Servicing Advances.
Examples of Adjusted Net WAC in a sentence
For each Distribution Date occurring after the Distribution Date in September 2006 and prior to the Distribution Date in February 2007, interest will accrue at a rate equal to the Adjusted Net WAC of the Mortgage Loans.
For each Distribution Date occurring after the Distribution Date in November 2006 and prior to the Distribution Date in April 2007, interest will accrue at a rate equal to the Adjusted Net WAC of the Mortgage Loans.
For each Distribution Date after the Distribution Date in March 2006 and prior to the Distribution Date in September 2007, interest will accrue at a per annum rate equal to the Adjusted Net WAC of the Mortgage Loans.
Where applicable, they also judge the effectiveness of the early years provision and 6th form.• Grade 1 - outstanding• Grade 2 - good• Grade 3 - requires improvement• Grade 4 - inadequatePANPublished Admission NumbersThe PAN is the maximum number of pupils that the admission authority will admit to each year group.
For the Distribution Date in July 2007, interest will accrue at a per annum rate equal to the Adjusted Net WAC of the Mortgage Loans.
More Definitions of Adjusted Net WAC
Adjusted Net WAC. As to any Distribution Date and Loan Group 2 and Loan Group 3, the fraction, expressed as a percentage, equal to (A) the sum of the product, for each Group 2 or Group 3 Mortgage Loan, of (i) the Net Mortgage Interest Rate for such Mortgage Loan multiplied by (ii) the Stated Principal Balance of such Mortgage Loan on the Due Date of the month preceding the month of such Distribution Date divided by (B) the sum of the product, for each such Mortgage Loan, of (i) the Non-Ratio Strip Percentage for such Mortgage Loan multiplied by (ii) the Stated Principal Balance of such Mortgage Loan on the Due Date of the month preceding the month of such Distribution Date.
Adjusted Net WAC. Not applicable.
Adjusted Net WAC. [to be provided if applicable.] Advances: Delinquency Advances and Servicing Advances.
Adjusted Net WAC. For any Distribution Date, a per annum rate equal to the product of (i) 12 and (ii) a fraction, the numerator of which is the excess of (x) what the Current Interest on the Class A Certificates would have been for such Distribution Date had the Certificate Interest Rate (calculated on the basis of an Accrual Period that consists of the calendar month immediately preceding the month in which the related distribution occurs, in the case of the first Distribution Date) on such Class been the Net WAC over (y) the Current Interest on the Class X-1 Certificates for such Distribution Date and the denominator of which is the Class Principal Amount of the Class A Certificates immediately prior to such Distribution Date. 107174 Sequoia 2004-4 Pooling and Servicing Agmt.
Adjusted Net WAC. For any Distribution Date, the excess of (i) the Net WAC for such Distribution Date over (ii) the quotient of (a) the product of (I) the Net Deferred Interest for such Distribution Date multiplied by (II) 12, divided by (b) the Pool Balance for such Distribution Date. For purposes of the REMIC Provisions, however, the Adjusted Net WAC for any Distribution Date shall equal the product of (i) two multiplied by (ii) the weighted average of the interest rates on the LTZ and LTY Interests immediately after such Distribution Date, computed for this purpose by subjecting the interest rate on the LTY Interest to a cap of 0.00%.
Adjusted Net WAC. A rate equal to the product of the Net WAC for the related Interest Accrual Period multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period.
Adjusted Net WAC. For Pool 2 for each Distribution Date will be the weighted average, based on their respective principal balances, of the interest rates on (i) an obligation having a principal balance equal to the aggregate principal balance of the Pool 2 PAX Mortgage Loans as of the beginning of the related Due Period and bearing interest at a rate equal to the lesser of (x) 4.75% or (y) the weighted average of the Net Mortgage Rates of the Pool 2 PAX Mortgage Loans at the beginning of the related Due Period and (ii) an obligation having a principal balance equal to the aggregate principal balance of Pool 2 AX Mortgage Loans as of the beginning of the related Due Period and bearing interest at a rate equal to the lesser of (x) 4.75% or (y) the weighted average of the Net Mortgage Rates of the Pool 2 AX Mortgage Loans at the beginning of the related Due Period.