Class A-1 Available Funds Cap. With respect to a Distribution Date, the per annum rate equal to the product of (i) 12, (ii) the quotient of (x) the total scheduled interest on the Mortgage Loans in Group One based on the Net Mortgage Rates in effect on the related Due Date, less the pro rata portion (calculated based on the ratio of the Stated Principal Balance of the Group One Mortgage Loans to the Stated Principal Balance of the total pool of Mortgage Loans) allocable to the Group One Mortgage Loans of any Net Swap Payments or Swap Termination Payments (other than Defaulted Swap Termination Payments) owed to the Swap Counterparty for such Distribution Date and (y) the aggregate Stated Principal Balance of the Mortgage Loans in Group One as of the first day of the related Accrual Period (or, in the case of the first Distribution Date, as of the Cut-off Date) and (iii) a fraction, the numerator of which is 30, and the denominator of which is the actual number of days in the related Accrual Period. The Class A-1 Available Funds Cap shall relate to the Class A-1 Certificates.
Class A-1 Available Funds Cap. With respect to a Distribution Date, the per annum rate equal to the product of (i) 12, (ii) the quotient of (x) the total scheduled interest on the Mortgage Loans in Group One based on the Net Mortgage Rates, less the pro rata portion (calculated based on the ratio of the Group One Mortgage Loans to the total pool of Mortgage Loans) allocable to the Group One Mortgage Loans of any Net Swap Payments or Swap Termination Payments (other than Defaulted Swap Termination Payments) owed to the Swap Counterparty for such Distribution Date in effect on the related Due Date divided by (y) the aggregate Stated Principal Balance of the Mortgage Loans in Group One as of the first day of the related Accrual Period (or, in the case of the first Distribution Date, as of the Cut-off Date) and (iii) a fraction, the numerator of which is 30, and the denominator of which is the actual number of days in the related Accrual Period.
Class A-1 Available Funds Cap. With respect to a Distribution Date, the per annum rate equal to the product of (i) 12, (ii) the quotient of (x) the total scheduled interest on the Mortgage Loans in Group One based on the Net Mortgage Rates in effect on the related Due Date divided by (y) the aggregate Stated Principal Balance of the Mortgage Loans in Group One as of the first day of the related Accrual Period (or, in the case of the first Distribution Date, as of the Cut-off Date) and (iii) a fraction, the numerator of which is 30, and the denominator of which is the actual number of days in the related Accrual Period.
Examples of Class A-1 Available Funds Cap in a sentence
Amounts in the Reserve Account can be used to (i) pay Shortfall Amounts in accordance with Section 8.01 and (ii) to pay Class A-1 Available Funds Cap Carry-forward Amounts and Class A-2 Available Funds Cap Carry-forward Amounts.
Available Funds Cap: Any of the Class A-1 Available Funds Cap, the Class A-2 Available Funds Cap or the Subordinated Certificate Available Funds Cap.
Subordinate Certificates: The per annum rate equal to the weighted average (weighted in proportion to the results of subtracting from the aggregate principal balance of each loan group the current principal balance of the related Class A Certificates) of the Class A-1 Available Funds Cap and the Class A-2 Available Funds Cap.
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.
More Definitions of Class A-1 Available Funds Cap
Class A-1 Available Funds Cap. With respect to a Distribution Date, the per annum rate equal to the product of (i) 12, (ii) the quotient of (x) the total scheduled interest on the Group One Mortgage Loans based on the Net Mortgage Rates in effect on the related Due Date divided by (y) the aggregate Stated Principal Balance of the Group One Mortgage Loans as of the first day of the related Accrual Period and (iii) a fraction, the numerator of which is 30, and the denominator of which is the actual number of days in the related Accrual Period.
Class A-1 Available Funds Cap. With respect to a Distribution Date, the per annum rate equal to the difference between (A) the product of (i) 12, (ii) the quotient of (x) the total scheduled interest due on the Mortgage Loans in Group One based on the Net Mortgage Rates in effect on the related Due Date and (y) the sum of (a) the current Certificate Principal Balance of the Class A-1 and Class R Certificates and (b) the product of the current Certificate Principal Balance of the Subordinate Certificates and the Group One AFC Percentage and and
Class A-1 Available Funds Cap. With respect to (A) any Distribution Date from the Closing Date up to and including the Distribution Date immediately following the Funding Period, a per annum rate equal to the product of (i) 12, (ii) the quotient of (x) the sum of (1) the total scheduled interest on the Initial Mortgage Loans in Group One based on the Net Mortgage Rates in effect on the related Due Date and (2) the Required Withdrawal for Group One for such Distribution Date, less the pro rata portion (calculated based on the ratio of the Stated Principal Balance of the Mortgage Loans in Group One to the Stated Principal Balance of the total pool of Mortgage Loans) allocable to the Mortgage Loans in Group One of any Net Swap Payments or Swap Termination Payments (other than Defaulted Swap Termination Payments) owed to the Swap Counterparty for such Distribution Date, and (y) the sum of (1) the aggregate Stated Principal Balance of the Initial Mortgage Loans in Group One as of the first day of the related Accrual Period (or, in the case of the first Distribution Date, as of the Initial Cut-off Date) and (2) the excess of (a) the portion of the Original Pre-Funded Amount relating to Group One over (b) the aggregate of principal payments received with respect to the Subsequent Mortgage Loans in Group One that were distributed on prior Distribution Dates and losses with respect to principal incurred with respect to the Subsequent Mortgage Loans in Group One that were allocated on prior Distribution Dates and (iii) a fraction, the numerator of which is 30, and the denominator of which is the actual number of days in the related Accrual Period and (B) any Distribution Date after the Distribution Date immediately following the Funding Period, the per annum rate equal to the product of (i) 12, (ii) the quotient of (x) the total scheduled interest on the Included Mortgage Loans in Group One based on the Net Mortgage Rates in effect on the related Due Date, less the pro rata portion (calculated based on the ratio of the Stated Principal Balance of the Mortgage Loans in Group One to the Stated Principal Balance of the total pool of Mortgage Loans) allocable to the Mortgage Loans in Group One of any Net Swap Payments or Swap Termination Payments (other than Defaulted Swap Termination Payments) owed to the Swap Counterparty for such Distribution Date, and (y) the aggregate Stated Principal Balance of the Included Mortgage Loans in Group One as of the first day of the related Accrual Period and (iii) ...
Class A-1 Available Funds Cap. With respect to a Distribution Date, the per annum rate equal to the product of (i) 12, (ii) the quotient of (x) the total scheduled interest on the Mortgage Loans in Group One based on the Net Mortgage Rates in effect on the related Due Date divided by (y) the aggregate Stated Principal Balance of the Mortgage Loans in Group One as of the first day of the related Accrual Period (or, in the case of the first Distribution Date, as of the Cut-off Date) and (iii) a fraction, the numerator of which is 30, and the denominator of which is the actual number of days in the related Accrual Period. Class A-1 Cap Contract: The confirmation and agreement dated as of May 26, 2005, as amended from time to time, with a reference number of IRG6756975.2A.2B and any related confirmation thereto, between the Trustee solely on behalf of the Trust Fund and the Cap Contract Counterparty (substantially in the form of Exhibit N-1 hereto).
Class A-1 Available Funds Cap. With respect to a Distribution Date, the per annum rate equal to the difference between (A) the product of (i) 12, (ii) the quotient of (x) the total scheduled interest due on the Mortgage Loans in Group One based on the Net Mortgage Rates in effect on the related Due Date and (y) the sum of (a) the current Certificate Principal Balance of the Class A-1 and Class R Certificates and (b) the product of the current Certificate Principal Balance of the Subordinate Certificates and the Group One AFC Percentage and and (iii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period and (B) the Class A Certificate Guaranty Insurance Premium Rate.
Class A-1 Available Funds Cap. With respect to a Distribution Date, the per annum rate equal to the product of (i) 12, (ii) the quotient of (x) the total scheduled interest on the Group One Mortgage Loans based on the Net Mortgage Rates in effect on the related Due Date, divided by (y) the aggregate Stated Principal Balance of the Group One Mortgage Loans as of the first day of the related Accrual Period (or, in the case of the first Distribution Date, as of the Cut-off Date) and (iii) a fraction, the numerator of which is 30, and the denominator of which is the actual number of days in the related Accrual Period, and with respect to the Class A-1B Certificates and the REMIC Regular Interest represented thereby, reduced by the product of (x) the Class A-1B Certificate Insurance Premium Rate and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period.
Class A-1 Available Funds Cap. With respect to a Distribution Date, the per annum rate equal to the product of (i) 12, (ii) the quotient of (x) the total scheduled interest on the Included Mortgage Loans in Group One based on the Net Mortgage Rates in effect on the related Due Date, divided by (y) the aggregate Stated Principal Balance of the Included Mortgage Loans in Group One as of the first day of the related Accrual Period (or, in the case of the first Distribution Date, as of the Initial Cut-off Date) plus amounts on deposit in the Pre-Funding Account for Group One (disregarding any income or loss on investments therein) as of the close of the preceding calendar month (or, if such date would be prior to the Closing Date, the portion of the Original Pre-Funded Amount relating to Group One) and (iii) a fraction, the numerator of which is 30, and the denominator of which is the actual number of days in the related Accrual Period.