Available Funds Cap Rate. The Fixed Rate Group Available Funds Cap Rate or the ARM Group Available Funds Cap Rate, as applicable.
Available Funds Cap Rate. On each Payment Date the weighted average of the Coupon Rates of the Home Equity Loans less (i) prior to January 1999, 0.63375% per annum and (ii) on or after the Payment Date in January 1999, 1.13375% per annum.
Available Funds Cap Rate. With respect to any Payment Date and any Mortgage Loan Group, the per annum rate equal to the product of (1) the fraction, expressed as a percentage, the numerator of which is the Interest Distribution Amount for that Mortgage Loan Group for the related Due Period and the denominator of which is the sum of the Class Principal Amounts of the Offered Notes related to such Mortgage Loan Group and the Subordinate Component related to such Mortgage Loan Group immediately prior to such Payment Date, and (2) 12.
Examples of Available Funds Cap Rate in a sentence
If either (a) the aggregate principal balance of the Group I Mortgage Loans and Group II Mortgage Loans has been reduced to zero on a prior Distribution Date or (b) the aggregate principal balance of the Group III Mortgage loans has been reduced to zero on a prior Distribution Date, the related Available Funds Cap Rate for a Class of Certificates is equal to the Available Funds Cap Rate related to the Group or Groups with an aggregate principal balance greater than zero.
Pass-Through Rate: The "Pass-Through Rate" on each Class of Offered Certificates will be equal to the lesser of (i) the related Formula Rate and (ii) the related Available Funds Cap Rate.
The Securities Administrator shall make available on the first day of each Calculation Period via its website a statement containing the relevant Class A Available Funds Cap Rate.
The "Current Interest" for each of the Class A-1, Class A-2, Class M-1, Class M-2, Class M-3 and Class B Certificates for any Distribution Date shall be the amount of interest accrued during the related accrual period on the related certificate principal balance thereof immediately preceding such Distribution Date at the related pass-through rate (subject to the Available Funds Cap Rate).
Subordinate Available Funds Cap Rate: The "Subordinate Available Funds Cap Rate" on any Distribution Date is equal to the weighted average of the Class A-1/A-2 Available Funds Cap Rate and the Class A-3 Available Funds Cap Rate weighted by the related sub component principal balance.
More Definitions of Available Funds Cap Rate
Available Funds Cap Rate. For any Distribution Date, an amount, expressed as a per annum rate, equal to (a) the aggregate amount of interest due and collected (or advanced) on the Mortgage Loans for the related Collection Period, minus the amounts reimbursable or payable to the Servicer or any Sub-Servicer pursuant to Section 3.11 or Section 3.14 and the Insurer Premium payable to the Insurer pursuant to Section 8.10(b) of the Indenture, divided by (b) the Stated Principal Balance of the Mortgage Loans immediately prior to such Distribution Date.
Available Funds Cap Rate. For a Class of Notes and any Payment Date is a rate per annum equal to a fraction, expressed as a percentage, the numerator of which is (i) an amount equal to (A) 1/12 of the Aggregate Scheduled Principal Balance of the then outstanding Mortgage Loans and REO Properties in the related Group multiplied by the weighted average of the Expense Adjusted Coupon Rates on the then outstanding Mortgage Loans and REO Properties in the related Group minus (B) the amount of the Note Insurer Premium allocable to the related Group for such Payment Date, and the denominator of which is (ii) an amount equal to (x) the Note Balance of the related Class on such Payment Date multiplied by (y) the actual number of days elapsed in the related Interest Period divided by 360.
Available Funds Cap Rate. As to any Payment Date, an amount, expressed as a per annum rate, equal to (a)(i) the aggregate amount of interest due and collected (or advanced) on all of the Mortgage Loans in the Trust for the related Remittance Period, minus (ii) the aggregate of the Servicing Fee, the Indenture Trustee's Fee, the Owner Trustee's Fee and the Premium Amount on such Payment Date, minus (iii) commencing on the seventh Payment Date following the Closing Date, an amount equal to ____% per annum times the aggregate Loan
Available Funds Cap Rate means, with respect to any Distribution Date, a rate equal to the greater of (X) zero and (Y)(i) the Weighted Average Coupon Rate of all Eligible Receivables in the Receivables Pool as of such Distribution Date minus (ii) the sum of (a) the Servicing Fee Rate, (b) the Sub-Servicing Fee Rate, (c) the Custodial Fee Rate with respect to such Distribution Date and (d) 2.50%.
Available Funds Cap Rate. With respect to the Class A and Class M Notes, the percentage equivalent of (i) the product of (a) the excess of (x) the weighted average of the Net Mortgage Rates for the Mortgage Loans, adjusted for the related Accrual Period over (y) the Class X Note Rate then in effect and (b) the aggregate Principal Balance of the Mortgage Loans as of the first day of the month prior to such Payment Date (except with respect to the first Payment Date, after giving effect to scheduled payments due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) divided by (ii) the aggregate Class Note Balance of the Notes immediately prior to such Payment Date.
Available Funds Cap Rate. On any Payment Date on or prior to the Payment Date in __________ 199_, the weighted average of the Coupon Rates of the Home Equity Loans less ____% per annum and on any Payment Date thereafter, the weighted average of the Coupon Rates of the Home Equity Loans less ____% per annum.
Available Funds Cap Rate. With respect to any Payment Date and the Class A-1 Notes, a per annum rate equal to the product of (1)(x)(i) the sum of (A) the total interest received or advanced on the Group I Mortgage Loans for the related Due Period and (B) the Class A-1 Allocation Percentage of the Net Swap Payments received by the Indenture Trustee minus (ii) the sum of the Note Insurer Premium with respect to the Class A-1 Notes, the Pool Insurer Premium with respect to the Group I Mortgage Loans, the Servicing Fee with respect to the Group I Mortgage Loans and the Indenture Trustee Fee with respect to the Group I Mortgage Loans and the Class A-1 Allocation Percentage of any Net Swap Payment and/or Swap Termination Payment owed to the Swap Provider, divided by (y) the Note Balance of the Class A-1 Notes and (2) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Interest Accrual Period. With respect to any Payment Date and the Class A-2 Notes, a per annum rate equal to the product of (1)(x)(i) the sum of (A) the total interest received or advanced on the Group II Mortgage Loans for the related Due Period and (B) the Class A-2 Allocation Percentage of the Net Swap Payments received by the Indenture Trustee minus (ii) the sum of the Note Insurer Premium with respect to the Class A-2 Notes, the Pool Insurer Premium with respect to the Group II Mortgage Loans, the Servicing Fee with respect to the Group II Mortgage Loans and the Indenture Trustee Fee with respect to the Group II Mortgage Loans and the Class A-2 Allocation Percentage of any Net Swap Payment and/or Swap Termination Payment owed to the Swap Provider, divided by (y) the Note Balance of the Class A-2 Notes and (2) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Interest Accrual Period.