Cap Assignment definition

Cap Assignment. The Fixed Income Cap Assignment Agreement dated January 6, 2005 among the Cap Provider, the Seller, the Depositor and the Trustee.

Cap Assignment means (a) the Interest Rate Hedge Assignment and Security Agreement, dated as of May 1, 1999, between the Owner and Xxxxxxx Mac, as their interests may appear or (b) any assignment by the Owner of any subsequent Cap to Xxxxxxx Mac, in each case as such agreement may be amended, modified or supplemented from time to time.

Cap Assignment means an Assignment of Interest Rate Cap as Collateral to be executed by and between Borrower and Lender pursuant to Section 2.3 hereof, as such agreement may be amended, modified or supplemented from time to time.

Examples of Cap Assignment in a sentence

• The Depositor herewith delivers to the Trustee an executed copy of the Mortgage Loan Purchase Agreement, each of the Cap Agreements, the Cap Assignment and the PMI Policy.

• The Counterparty shall make any and all payments under the Cap (and the Cap Documents and the Cap Assignment shall direct the Counterparty to make any such payments) directly to the Servicer, which shall pay to the Owner such Cap payments provided that the Owner is not in default hereunder.

• Assign any Cap in effect pursuant to this Agreement to Lender pursuant to a Cap Assignment and/or other documentation that is acceptable in form and content to Lender.

• Borrower's right, title and interest in the Cap shall be assigned to Mezzanine Lender as additional collateral for repayment of the Loan ("Cap Assignment").

• The Owner shall assign each Cap in effect from time to time pursuant to this Agreement to Xxxxxxx Mac pursuant to the Cap Assignment, which Cap Assignment must be acceptable in form and content to Xxxxxxx Mac.

More Definitions of Cap Assignment

Cap Assignment. Delivery of Cap Payments. Assign the Cap in effect from time to time pursuant to this Agreement to Mezzanine Lender pursuant to the Cap Assignment, which Cap Assignment must be reasonably acceptable in form and content to Mezzanine Lender.

Cap Assignment means that certain Interest Rate Cap Assignment and Security Agreement dated as of even date herewith, between Borrower and Lender, as such agreement may be amended, modified or supplemented from time to time.

Cap Assignment has the meaning specified in paragraph (27) of Section 4.01.

Cap Assignment. The Fixed Income Cap Assignment Agreement dated July 10, 2003 among the Cap Provider, the Seller, the Depositor and the Trustee.

Cap Assignment means collectively, one or more Collateral Assignments of Interest Rate Protection Agreement dated as of November 5, 1999 made by Borrower to Lender with respect to the Interest Rate Protection Agreement.

Cap Assignment. Delivery of Cap Payments. Assign each Cap in effect from time to time pursuant to this Agreement to Lender pursuant to the Cap Assignment, which Cap Assignment must be reasonably acceptable in form and content to Lender.

Cap Assignment. Delivery of Cap Payments. Assign any Cap in effect pursuant to this Agreement to Lender pursuant to a Cap Assignment and/or other documentation that is acceptable in form and content to Lender. The counterparty (described in Section 2.3 above) shall make any and all payments under the Cap (and the Cap Documents and such Cap Assignment shall direct the counterparty to make any such payments) (a) to Borrower's account as designated in the Cap Documents or (b) if an Event of Default has occurred, directly to the Lender, and such counterparty must provide for any collateral posted by the Cap Provider to be delivered to and held by Lender, or its designee. The Cap and any payments made by the counterparty thereunder shall constitute additional collateral for the Loan Obligations and, upon the occurrence of an Event of Default, may be applied by Lender, in such order and manner as Lender may elect, to the reduction of the Loan Obligations.