Cap Strike definition

Cap Strike. Means the level specified in the Final Terms. "Cash Component" Means the amount specified in the Final Terms.
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Cap Strike means the value specified in the Final Terms. "Cap Strike 1" means the value specified in the Final Terms. "Cap Strike 2" means the value specified in the Final Terms. "Cap Strike Lower" means the value specified in the Final Terms. "Cap Strike Upper" means the value specified in the Final Terms. "Change in Law" as specified in Condition 9 (Change in Law).
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Cap Strike. Means the level specified in the Final Terms.
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Examples of Cap Strike in a sentence

  • The notional amount of the Interest Rate Cap Agreement may be reduced from time to time in amounts equal to any prepayment of the principal of the Loan made in accordance with the Loan Documents, provided that the strike rate shall be equal to the LIBOR Cap Strike Rate.

  • The Interest Rate Cap Agreement shall have a strike rate equal to the LIBOR Cap Strike Rate.

  • The Interest Rate Cap Agreement during both the Initial Term (if required) and the Extension Term shall have a strike rate equal to the LIBOR Cap Strike Rate.

  • Synonyms• Borrowers• Borrower's C Cap Strike Rate Maximum specified Index interest rate that will trigger apayment obligation by the Interest Rate Cap provider.

  • In addition, neighbour notification letters were sent to 44 neighbouring properties.

  • If three-month EURIBOR is substantially higher than the Cap Strike Rate, the Issuer will be more dependent on receiving payments from the Cap Provider in order to make interest payments on the Notes.

  • Such payments will be determined by reference to the part of the relevant EURIBOR for an Interest Period exceeding the Cap Strike Rate multiplied by the applicable Cap Notional Amount (as determined at the beginning of the relevant Interest Period) and multiplied by the actual number of days elapsed in such Interest Period divided by 360 days.

  • For the Class 1-A-1 and Class 3-A-1 Certificates and any Distribution Date on or prior to the Yield Maintenance Agreement Termination Date, an amount equal to the product of (a) the excess, if any, of (i) the lesser of one-month LIBOR, as determined in the Yield Maintenance Agreement, and the related Maximum Cap Rate over (ii) the related Cap Strike Rate, (b) the related Yield Maintenance Notional Amount set forth for such Distribution Date in the table in Schedule IV or Schedule V, and (c) one-twelfth.

  • Pursuant to the Cap Agreement, the Cap Provider is obliged to make payments to the Issuer on a quarterly basis to the extent three-month EURIBOR in respect of any relevant Interest Period exceeds the Cap Strike Rate.

  • Pursuant to the Interest Rate Cap Agreement, the Interest Rate Cap Provider, against payment of the Interest Rate Cap Fees by the Issuer on the Closing Date, shall make payments to the Issuer on each Interest Payment Date if and to the extent the one month Euro Interbank Offered Rate ("EURIBOR") for the relevant Interest Period exceeds the Cap Strike Rate.

Related to Cap Strike

  • Cap Contract Any of the Class A-1 Cap Contract, the Class A-2 Cap Contract or the Subordinate Certificates Cap Contract.

  • 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.

  • Net WAC Cap The Group 1 Net WAC Cap, the Group 2 Net WAC Cap or the Subordinate WAC Cap, as applicable.

  • Cap Contracts means (i) the Cap Contract between the Trustee and the counterparty named thereunder, for the benefit of the Holders of the Class A-1 Certificates, the Mezzanine Certificates and the Class B Certificates (the "Group I Cap Contract") and (ii) the Cap Contract between the Trustee and the counterparty thereunder, for the benefit of the Class A-2 Certificates, the Mezzanine Certificates and the Class B Certificates (the "Group II Cap Contract").

  • Group II Stepdown Date The later to occur of (i) the Distribution Date in [Month/Year] or (ii) the first Distribution Date on which (A) the Group II Class A Certificate Principal Balance (reduced by the Group II Principal Funds with respect to such Distribution Date) is less than or equal to (B) ___% of the Stated Principal Balances of the Group II Mortgage Loans plus the Pre-Funded Amount allocable to Loan Group II, in each case, as of such Distribution Date.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.

  • Trigger Event shall have the meaning specified in Section 14.04(c).

  • Available Funds Cap Any of the Class A-1 Available Funds Cap, the Class A-2 Available Funds Cap or the Weighted Average Available Funds Cap.

  • 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.

  • Rate Floor The minimum per annum Mortgage Interest Rate permitted under the related Mortgage Note. Rating Agency: Initially, each of S&P and Xxxxx’x and thereafter, each nationally recognized statistical rating organization that has rated the Certificates at the request of the Company, or their respective successors in interest. Ratings: As of any date of determination, the ratings, if any, of the Certificates as assigned by the applicable Rating Agencies.

  • Strike Rate means a fixed rate of interest under the Cap Agreement that does not exceed the Original Strike Rate. The following changes are made to the Loan Agreement which precedes this Rider:

  • Group I Stepdown Date The later to occur of (i) the Distribution Date in [Month/Year] or (ii) the first Distribution Date on which the Group I Class A Certificate Principal Balance (reduced by the Group I Principal Funds with respect to such Distribution Date) is less than or equal to ____% of the Stated Principal Balances of the Group I Mortgage Loans plus the Pre-Funded Amount allocable to Loan Group I, in each case, as of the Distribution Date.

  • Step-Down Date The later to occur of:

  • Net WAC Cap Rate With respect to any Distribution Date, the product of (i) a per annum rate equal to the weighted average of the Net Mortgage Rates (or, if applicable, the Modified Net Mortgage Rates) using the Net Mortgage Rates in effect for the Monthly Payments due on such Mortgage Loans during the related Due Period, weighted on the basis of the respective Stated Principal Balances thereof for such Distribution Date and (ii) a fraction equal to 30 divided by the actual number of days in the related Interest Accrual Period.

  • Stepdown Date The earlier to occur of (1) the Distribution Date on which the aggregate Certificate Principal Balance of the Class A Certificates has been reduced to zero and (2) the later to occur of (x) the Distribution Date in July 2009 and (y) the first Distribution Date on which the Credit Enhancement Percentage of the Class A Certificates (calculated for this purpose only after taking into account distributions of principal on the Loans, but prior to any distribution of the Principal Distribution Amount to the Certificateholders then entitled to distributions of principal on such Distribution Date) is greater than or equal to 14.50%.

  • Net WAC With respect to any Distribution Date and for any Mortgage Group, the weighted average Net Mortgage Rate for the Mortgage Loans in such Mortgage Group calculated based on the respective Net Mortgage Rates and the Stated Principal Balances of such Mortgage Loans as of the preceding Distribution Date (or, in the case of the first Distribution Date, as of the Cut-off Date).

  • Credit Support Depletion Date The first Distribution Date on which the Certificate Principal Balances of the Subordinate Certificates have been reduced to zero.

  • Excess Cash Flow Payment Date means the date occurring 90 days after the last day of a fiscal year of the Parent (commencing with its fiscal year ending December 31, 2000).

  • Mezzanine Floor means an intermediate floor between two floors, above ground level, accessible only from the lower floor;

  • OC Floor An amount equal to 0.50% of the Pool Balance as of the Cut-Off Date.

  • Group 1 Available Funds As to any Distribution Date, the sum of (a) the aggregate amount held in the Collection Account at the close of business on the related Servicer Remittance Date and, without duplication, on deposit in the Distribution Account at the close of business of the related Distribution Account Deposit Date, attributable to the Group 1 Mortgage Loans net of (i) the Amount Held for Future Distribution related to the Group 1 Mortgage Loans, (ii) amounts related to the Group 1 Mortgage Loans permitted to be withdrawn from the Collection Account pursuant to clauses (i)-(viii) inclusive and clauses (ix)(a)(ii) and (iii), (ix)(b), (x) and (xi) of Section 3.10(a), (iii) after giving effect to all amounts deposited to the Distribution Account from the Collection Account, amounts related to the Group 1 Mortgage Loans permitted to be withdrawn from the Distribution Account pursuant to clauses (i)-(iv) inclusive of Section 3.10(b), and (iv) any Fair Market Value Excess, (b) the amount of the related Advances related to the Group 1 Mortgage Loans and (c) in connection with Defective Mortgage Loans in Loan Group 1, as applicable, the aggregate of the Purchase Prices and Substitution Adjustment Amounts deposited on the related Distribution Account Deposit Date.

  • Basis Risk Shortfall Carry Forward Amount With respect to any Distribution Date and any Class of Class A Certificates and Class M Certificates, an amount equal to the sum of (A) the excess, if any, of (a) the amount of Current Interest that such Class would have been entitled to receive on such Distribution Date had the Pass-Though Rate applicable to such Class been calculated at a per annum rate equal to One-Month LIBOR plus the related Certificate Margin, over (b) the amount of Current Interest that such Class received on such Distribution Date if the Pass-Through Rate is limited to the related Net Rate Cap and (B) the amount in clause (A) for all previous Distribution Dates not previously paid, together with interest thereon at a rate equal to the related Pass-Through Rate for such Distribution Date. Bankruptcy Code: Title 11 of the United States Code.

  • 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.

  • Excess Cash Flow Payment Period means, with respect to the repayment required on each Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Grenfell Tower support payment means a payment made to a person because that person was affected by the fire on 14th June 2017 at Grenfell Tower, or a payment to the personal representative of such a person—

  • Class A Deficiency Amount is defined in Section 4.1(a).