Cap Payment Entitlement definition

Cap Payment Entitlement for any Payment Date means any outstanding Basis Risk Carryforward on that Payment Date before the application of Available Interest Collections to the payment of such Basis Risk Carryforward under clause Section 8.03(a)(ix) of the Indenture. "Cap Payment (Total)" for any Payment Date through the Cap Payment Termination Date means the amount payable by the Cap Counterparty under the Cap Contract equal to the product of:
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Cap Payment Entitlement means, for the Class 2-A Note, any outstanding Basis Risk Carryforward for the Class 2-A Notes on a Payment Date before the application of Available Interest Collections to the payment of Basis Risk Carryforward under clause Section 8.03(a)(xii) of the Indenture.
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Cap Payment Entitlement means, for the Class 2-A Note and any Payment Date, the product of (i) the principal balance of the Class 2-A Notes immediately before the payment date and (ii) the excess of the LIBOR plus the applicable margin determined pursuant to the definition of Note Rate for the Class 2-A Notes and the payment date over 16%.
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Examples of Cap Payment Entitlement in a sentence

  • If an early termination payment is received with respect to an Early Termination Date, the early termination payment will be deposited by the Cap Contract Administrator in the Cap Contract Account to cover future Cap Payment Entitlement on the Notes until the Cap Contract Termination Date and any remaining amount will be paid on that date to the Sponsor.

  • On each Payment Date, the Indenture Trustee shall distribute to the Noteholders, as Basis Risk Carryforward, funds on deposit in the Cap Contract Account up to the Cap Payment Entitlement and any amounts remaining in the Cap Contract Account (other than any early termination payment) to the Sponsor.

  • Additionally, the Class A Notes will have the benefit of the Cap Contract to the extent of the Cap Payment for payment of the Cap Payment Entitlement.

  • The Indenture Trustee will withdraw funds from the Cap Contract Account up to the Cap Payment Entitlement for payment pursuant to Section 8.08.

  • If an early termination payment is received with respect to an Early Termination Date, the early termination payment will be deposited by the Cap Trustee in the Cap Contract Account to cover future Cap Payment Entitlement on the Class 2-A Notes until the Cap Contract Termination Date and any remaining amount will be paid on that date to the Sponsor.

  • On each Payment Date, the Indenture Trustee shall distribute to the Holders of the Class 2-A Notes (pro rata between the Class 2-A-1A and Class 2-A-1B Notes) as Basis Risk Carryforward funds on deposit in the Cap Contract Account up to the Cap Payment Entitlement and any amounts remaining in the Cap Contract Account (other than early termination payment) to the Sponsor.

  • On each Payment Date, the Indenture Trustee shall distribute to the Holders of the Class 2-A Notes as Basis Risk Carryforward funds on deposit in the Cap Contract Account up to the Cap Payment Entitlement and any amounts remaining in the Cap Contract Account (other than early termination payment) to the Sponsor.

  • On each Payment Date, funds on deposit in the Cap Contract Account up to the Cap Payment Entitlement shall be distributed to the Holders of the Class 2-A-1A Notes as proved in Section 8.03(a) and any funds remaining in the account after this payment on any Payment Date shall be paid to the Sponsor as provided in Section 8.07.

  • If an early termination payment is received with respect to an Early Termination Date, the early termination payment will be deposited by the Cap Trustee in the Cap Contract Account related to the Cap Contract on which the early termination payment was received to cover future Cap Payment Entitlement on that Class of Notes until the Cap Contract Termination Date and any remaining amount will be paid on that date to the Sponsor.

  • If an early termination payment is received with respect to an Early Termination Date, the early termination payment will be deposited by the Cap Trustee in the Cap Contract Account to cover future Cap Payment Entitlement on the Class 2-A-1A Notes until the Cap Contract Termination Date and any remaining amount will be paid on that date to the Sponsor.

Related to Cap Payment Entitlement

  • Fixed Swap Payment With respect to any Distribution Date, a fixed amount equal to the related amount set forth in the Interest Rate Swap Agreement.

  • Swap Payment Date For so long as the Swap Agreement is in effect or any amounts remain unpaid thereunder, the Business Day immediately preceding each Distribution Date.

  • Net Swap Payment With respect to each Distribution Date, the net payment required to be made pursuant to the terms of the Swap Agreement by either the Swap Provider or the Swap Administrator, which net payment shall not take into account any Swap Termination Payment.

  • M2M Entitlement means a Non-Monitoring RTO’s share of a M2M Flowgate’s total capability to be used for settlement purposes that is calculated pursuant to Section 6 of Schedule D to this Agreement.

  • Interest Rate Cap Payment (a) With respect to the Class A-2, Class A-3 and Class A-4 Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 35 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class A-2, Class A-3 and Class A-4 Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, (ii) the applicable Class A-2 and Class A-3 notional amount set forth on Schedule A to the Class A-2, Class A-3 and Class A-4 Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; (b) with respect to the Class M Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis; (ii) the applicable Class M notional amount set forth on Schedule A to the Class M Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; and (c) with respect to the Class B Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class B Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis; (ii) the applicable Class B notional amount set forth on Schedule A to the Class B Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement.

  • Floating Swap Payment With respect to any Distribution Date, a floating amount equal to the product of (i) Swap LIBOR, (ii) the related Base Calculation Amount (as defined in the Interest Rate Swap Agreement), (iii) 250 and (iv) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Floating Rate Payer Payment Date (as defined in the Interest Rate Swap Agreement) to but excluding the current Floating Rate Payer Payment (or, for the first Floating Rate Payer Payment Date, the actual number of days elapsed from the Closing Date to but excluding the first Floating Rate Payer Payment Date), and the denominator of which is 360.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Note Payment Account means the account established and maintained as such pursuant to Section 4.1(b).

  • Deficiency Payment has the meaning set forth in Section 9(a).

  • Reserve Account Excess Amount means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the amount of cash or other immediately available funds in the Reserve Account (excluding any net investment earnings) on that Payment Date, after giving effect to all deposits to and withdrawals from the Reserve Account on such Payment Date, over (b) the Specified Reserve Account Balance with respect to such Payment Date.

  • Agent Payment Account means account no. 5000000030266 of Agent at Wachovia Bank, National Association, or such other account of Agent as Agent may from time to time designate to Administrative Borrower as the Agent Payment Account for purposes of this Agreement and the other Financing Agreements.

  • Noteholders’ Distributable Amount means, with respect to any Distribution Date, the sum of the Noteholders’ Principal Distributable Amount and the Noteholders’ Interest Distributable Amount.

  • Monthly Excess Interest Amount With respect to each Distribution Date, the amount, if any, by which the Group 1 Interest Remittance Amount and Group 2 Interest Remittance Amount for such Distribution Date exceed the aggregate amount distributed on such Distribution Date pursuant to paragraphs (a) through (c) under Section 4.02(d) hereof, plus interest on the Overcollateralization Amount accrued during the Interest Accrual Period related to that Distribution Date.

  • Principal Payment Any payment of principal on a Mortgage Loan other than a Principal Prepayment.

  • Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to zero until the outstanding principal amount of each Class of Notes has been reduced to zero, and thereafter, an amount equal to the Principal Distribution Amount (as reduced by the Noteholders’ Principal Distributable Amount, if any for such Distribution Date) for such Distribution Date.

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Distribution Payment Date has the meaning set forth in paragraph 2(b) of Annex I.

  • Principal Payment Amount For any Distribution Date, the sum of (i) the scheduled principal payments (if any) on the Mortgage Loans due on the related Due Date, (ii) the principal portion of proceeds received with respect to any Mortgage Loan which was purchased or repurchased pursuant to a Purchase Obligation or as permitted by this Agreement during the Prior Period and (iii) any other unscheduled payments of principal which were received with respect to any Mortgage Loan during the Prior Period, other than Payoffs, Curtailments, Liquidation Principal and Subsequent Recoveries.

  • Noteholders’ Monthly Interest Distributable Amount means, with respect to any Distribution Date and any Class of Notes, interest accrued at the respective Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date), calculated (x) for the Class A-1 Notes and the Class A-2-B Notes on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period and (y) for all other Classes of Notes on the basis of a 360-day year consisting of twelve 30-day months (without adjustment for the actual number of business days elapsed in the applicable Interest Period), except with respect to the first Interest Period.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Per Certificate Entitlement means the per Certificate entitlement to the underlying Precious Metal specified in the Final Terms (the "Initial Per Certificate Entitlement") which is thereafter reduced by the Reduction Percentage.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Carryover Reserve Fund The separate Eligible Account created and initially maintained by the Trustee pursuant to Section 3.05(g) in the name of the Trustee for the benefit of the Holders of the Offered Certificates and designated "The Bank of New York in trust for registered holders of CWALT, Inc., Alternative Loan Trust 2006-OC10, Mortgage Pass-Through Certificates, Series 2006-OC10." Funds in the Carryover Reserve Fund shall be held in trust for the Holders of the Offered Certificates for the uses and purposes set forth in this Agreement.

  • Noteholders' Monthly Principal Distributable Amount means, with respect to any Distribution Date, the Noteholders' Percentage of the Principal Distributable Amount.

  • Net WAC Rate Carryover Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the sum of (A) the positive excess of (i) the amount of interest accrued on such Class of Certificates on such Distribution Date calculated at the related Formula Rate, over (ii) the amount of interest accrued on such Class of Certificates at the Net WAC Rate for such Distribution Date and (B) the Net WAC Rate Carryover Amount for the previous Distribution Date not previously paid, together with interest thereon at a rate equal to the Formula Rate for such Class of Certificates for such Distribution Date and for such Accrual Period.