Class A-1 Maximum Rate 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 that would have been due on the Group One Mortgage Loans had the Adjustable Rate Mortgage Loans provided for interest at their maximum lifetime Net Mortgage Rates and the Fixed Rate Mortgage Loans provided for interest at their 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 owed to the Swap Counterparty for such Distribution Date (other than Defaulted Swap Termination Payments), 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 Maximum Rate Cap. With respect to a Distribution Date, the per annum rate, adjusted to reflect the length of the related Accrual Period, equal to the weighted average of the maximum lifetime Net Mortgage Rates on the Adjustable Rate Mortgage Loans in Group One and the Net Mortgage Rates on the Fixed Rate Mortgage Loans in Group One. The Class A-1 Maximum Rate Cap shall relate to the Class A-1 and Class R Certificates.
Class A-1 Maximum Rate 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 that would have been due on the Group 1 Mortgage Loans had the Group 1 Mortgage Loans provided for interest at their maximum lifetime Net Mortgage Rates less the pro rata portion (calculated based on the ratio of the Stated Principal Balance of the Group 1 Mortgage Loans to the Stated Principal Balance of the total pool of Mortgage Loans) allocable to the Group 1 Mortgage Loans of any Net Swap Payments or Swap Termination Payments owed to the Swap Counterparty for such Distribution Date (other than Defaulted Swap Termination Payments), and (y) the aggregate Stated Principal Balance of the Group 1 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. The Class A-1 Maximum Rate Cap shall relate to the Class A-1 Certificates.
More Definitions of Class A-1 Maximum Rate Cap
Class A-1 Maximum Rate 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 that would have been due on the Initial Mortgage Loans in Group One had the Adjustable Rate Mortgage Loans provided for interest at their maximum lifetime Net Mortgage Rates and the Fixed Rate Mortgage Loans provided for interest at their Net Mortgage Rates 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, (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 that would have been due on the Group One Mortgage Loans had the Adjustable Rate Mortgage Loans provided for interest at their maximum lifetime Net Mortgage Rates and the Fixed Rate Mortgage Loans provided for interest at their Net Mortgage Rates 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 Term...
Class A-1 Maximum Rate 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 that would have been due on the Group One Mortgage Loans had the Adjustable Rate Mortgage Loans provided for interest at their maximum lifetime Net Mortgage Rates and the Fixed Rate Mortgage Loans provided for interest at their Net Mortgage Rates 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 owed to the Swap Counterparty for such Distribution Date (other than Defaulted Swap Termination Payments), and (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. The Class A-1 Maximum Rate Cap shall be related to the Class A-1 Certificates and Class R Certificates.
Class A-1 Maximum Rate 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 that would have been due on the Included Mortgage Loans in Group One had the Adjustable Rate Mortgage Loans provided for interest at their maximum lifetime Net Mortgage Rates and the Fixed Rate Mortgage Loans provided for interest at their Net Mortgage Rates 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. The Class A-1 Maximum Rate Cap shall relate to the Class A-1 Certificates and Class R Certificates.
Class A-1 Maximum Rate 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 that would have been due on the Group One Mortgage Loans had the Adjustable Rate Mortgage Loans provided for interest at their maximum lifetime Net Mortgage Rates and the Fixed Rate Mortgage Loans provided for interest at their Net Mortgage Rates 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 owed to the Swap Counterparty for such Distribution Date (other than Defaulted Swap Termination Payments), and (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. The Class A-1 Maximum Rate Cap shall relate to the Class A-1 Certificates. Class A-1 Pass-Through Rate: For the first Distribution Date, 5.460% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class A-1 Margin, (2) the Class A-1 Available Funds Cap for such Distribution Date and (3) the Class A-1 Maximum Rate Cap for such Distribution Date.
Class A-1 Maximum Rate Cap. With respect to any Distribution Date, the per annum rate equal to the product of (i) 12, (ii) the quotient of (x) the total scheduled interest that would have been due on the Mortgage Loans in Group One during the related Due Period had the Adjustable Rate Mortgage Loans in Group One provided for interest at their maximum lifetime Net Mortgage Rates and the Fixed Rate Mortgage Loans in Group One provided for interest at their Net Mortgage Rates divided by (y) the aggregate Stated Principal Balance of the Group One Mortgage Loans as of the preceding Distribution Date (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, such product reduced, in the case of the Class A-1B Certificates, by the product of (i) Class A-1B Certificate Insurance Premium Rate and (ii) 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 Maximum Rate Cap shall relate to the Class A-1 and Class R Certificates.
Class A-1 Maximum Rate Cap. With respect to a Distribution Date, the per annum rate, adjusted to reflect the length of the related Accrual Period, equal to the weighted average of the maximum lifetime Net Mortgage Rates on the Adjustable Rate Mortgage Loans in Group One and the Net Mortgage Rates on the Fixed Rate Mortgage Loans in Group One. The Class A-1 Maximum Rate Cap shall relate to the Class A-1 and Class R Certificates. Class A-1 Trigger Event: The situation that exists if (a) with respect to any Distribution Date, a Stepdown Trigger Event exists or (b) on any Distribution Date prior to the Distribution Date in June 2008, the quotient (expressed as a percentage) of (1) the aggregate Realized Losses incurred from the Cut-off Date through the last day of the calendar month preceding such Distribution Date and (2) the aggregate principal balance of the Mortgage Loans as of the Cut-off Date exceeds 2.75%.
Class A-1 Maximum Rate Cap. With respect to any Distribution Date, will be a per annum rate equal to 12 times the quotient of (x) the total scheduled interest that would have accrued on the Group I Mortgage Loans during the related Collection Period at their maximum lifetime Net Mortgage Interest Rates plus the pro rata portion of any Net Swap Payment and Swap Termination Payment (other than a Defaulted Swap Termination Payment), if any, made to the Supplemental Interest Trust and (y) the aggregate Principal Balance of the Group I Mortgage Loans (as of the first day of the related Collection Period) expressed on the basis of a 360 day year and the actual number of days elapsed in the related Interest Accrual Period.