Class A-1 Net Funds Cap definition

Class A-1 Net Funds Cap. For any Distribution Date and the Class A-1 Certificates, will be a per annum rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (1) the Optimal Interest Remittance Amount for Loan Group 1 and such date and (2) 12, and the denominator of which is the Aggregate Loan Group Collateral Balance of Loan Group 1 for the immediately preceding Distribution Date, multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the immediately preceding Accrual Period.
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Class A-1 Net Funds Cap. For each Distribution Date up to and including the January 2005 Distribution Date and the Class A-1 Certificates, a per annum rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (1) the Optimal Interest Remittance Amount for both Loan Groups and such date and (2) 12, and the denominator of which is the Aggregate Loan Group Collateral Balance of both Loan Groups for the immediately preceding Distribution Date, multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the immediately preceding Accrual Period. For each Distribution Date after the January 2005 Distribution Date and the Class A-1 Certificates, a per annum rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (1) the Optimal Interest Remittance Amount for Loan Group 1 and such date and (2) 12, and the denominator of which is the Aggregate Loan Group Collateral Balance of Loan Group 1 for the immediately preceding Distribution Date, multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the immediately preceding Accrual Period.
Sample 1
Class A-1 Net Funds Cap. With respect to any Payment Date and the Class A-1 Bonds, (i) the weighted average of the Mortgage Rates of the Pool 1 Mortgage Loans as of the first day of the month preceding the month of such Payment Date (or in the case of the first Payment Date, the Cut-off Date), weighted on the basis of the Scheduled Principal Balances of such Mortgage Loans as of such date MINUS (ii) the Aggregate Expense Rate relating to Pool 1 and such Class of Bonds.
Sample 1

Examples of Class A-1 Net Funds Cap in a sentence

  • Subordinate Net Funds Cap: For any Distribution Date and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class B-1, Class B-2, Class B-3, and Class B-4 Certificates, a per annum rate equal to a weighted average of (i) the Class A-1 Net Funds Cap and (ii) the Group 2 Senior Net Funds Cap for such Distribution Date; weighted on the basis of the Subordinate Group 1 Balance and Subordinate Group 2 Balance.

  • Subordinate For any Distribution Date and the Class M-1, Class M-2, Class M-3, Net Funds Cap: Class M-4, Class M-5, Class Net Funds Cap: M-6, Class B-1, Class B-2, Class B-3, and Class B-4 Certificates, a per annum rate equal to a weighted average of (i) the Class A-1 Net Funds Cap and (ii) the Group 2 Senior Net Funds Cap for such Distribution Date; weighted on the basis of the Subordinate Group 1 Balance and Subordinate Group 2 Balance.

  • Subordinate Net Funds Cap: For any Distribution Date and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class B-1, Class B-2, and Class B-3 Certificates, a per annum rate equal to a weighted average of (i) the Class A-1 Net Funds Cap and (ii) the Group 2 Senior Net Funds Cap for such Distribution Date; weighted on the basis of the Subordinate Group 1 Balance and Subordinate Group 2 Balance.

  • In the event that, on any Payment Date, the Class A-1 Net Funds Cap Rate is less than the Class A-1 Formula Rate (i.e., the Class A-1 Interest Rate equals the Class A-1 Net Funds Cap Rate), the excess of the amount of interest due based on the Class A-1 Formula Rate, over the interest due based on the Class A-1 Net Funds Cap Rate, together with interest thereon at the then-applicable Class A-1 Formula Rate.

  • Subordinate For any Distribution Date and the Class M-1, Class M-2, Class M-3, Net Funds Cap: Class M-4, Class M-5, Class M-6, Class B-1, Class B-2, Class B-3, and Class B-4 Certificates, a per annum rate equal to a weighted average of (i) the Class A-1 Net Funds Cap and (ii) the Group 2 Senior Net Funds Cap for such Distribution Date; weighted on the basis of the Subordinate Group 1 Balance and Subordinate Group 2 Balance.

  • The Note Rate for each Interest Period will be a [fixed] [floating] rate equal to the [lesser of a per annum rate equal to (i) [__]% plus 0.50% beginning on the second Payment Date after the Optional Call Date and (ii) the Net WAC Cap] [least of (i) One-Month LIBOR plus 0.[__]% or, beginning on the second Payment Date after the Optional Call Date [ ]%; (ii) a per annum rate equal to the Class A-1 Net Funds Cap; and (iii) 12.00% per annum].

  • As to any Payment Date, the lesser of (i) the Class A-1 Formula Rate and (ii) the Class A-1 Net Funds Cap Rate.


More Definitions of Class A-1 Net Funds Cap

Class A-1 Net Funds Cap. With respect to any Payment Date, a per annum rate equal to the product of (x) a fraction, expressed as a percentage, the numerator of which is equal to the excess of: (i) the product of (a) a per annum rate equal to the Weighted Average Net Loan Rate of the Mortgage Loans as of the first day of the month preceding the month in which such Payment Date occurs and (b) the Pool Balance prior to giving effect to distributions to be made on such Payment Date over (ii) the product of (a) 12 and (b) interest due to the Class A-2, Class A-3, Class A-4, Class A-5, Class A-6 and Class A-IO Notes on such Payment Date, and the denominator of which is equal to the aggregate Note Balance of the Class A-1 Notes; and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Period.
Sample 1

Related to Class A-1 Net Funds Cap

  • Class A-1 Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to 2.222%.

  • Class A-2 Pass-Through Rate For any Distribution Date, a per annum rate equal to 3.0008%.

  • Class A-5 Pass-Through Rate For any Distribution Date, a per annum rate equal to 3.1156%.

  • Class A-S Pass-Through Rate For any Distribution Date, a per annum rate equal to 3.4150%.

  • Class A-3 Pass-Through Rate For any Distribution Date, a per annum rate equal to 2.8600%.

  • Class B-3 Pass-Through Rate For the first Distribution Date, 4.120% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-3 Margin, (2) the Weighted Maximum Rate Cap and (3) the Available Funds Cap for such Distribution Date.

  • Class A Fixed Pass-Through Rate As to any Distribution Date, the rate per annum set forth in Section 11.01.

  • Class A-4 Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to 3.6250%.

  • Class M-1 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-1 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-1 Certificates with respect to interest on such prior Distribution Dates and (2) interest on such excess (to the extent permitted by applicable law) at the Class M-1 Pass-Through Rate for the related Accrual Period.

  • Class B-2 Pass-Through Rate For the first Distribution Date, 6.850% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-2 Margin,

  • Class A-AB Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to 3.313%.

  • Class B-1 Pass-Through Rate For the first Distribution Date, 6.3300% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-1 Margin, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.

  • Class X-D Pass-Through Rate For any Distribution Date, the weighted average of the Class X Strip Rates for the Class X-D Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Class A-1 Interest Rate means 0.75000% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Class A Floating Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is equal to the Class A Adjusted Invested Amount as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Invested Amount as of such day; provided, however, that with respect to the first Monthly Period, the Class A Floating Percentage shall mean the percentage equivalent of a fraction, the numerator of which is the Class A Initial Invested Amount and the denominator of which is the Initial Invested Amount.

  • Class A-2a Interest Rate means [●]% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

  • Class X-A Pass-Through Rate For any Distribution Date, the weighted average of Class X Strip Rates for the Class X-A Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Class A-2a Rate means [__]% per annum (computed on the basis of a 360 day year consisting of twelve 30 day months).

  • Class X-B Pass-Through Rate For any Distribution Date, the weighted average of the Class X Strip Rates for the Class X-B Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Class C Pass-Through Rate For any Distribution Date, a per annum rate equal to the WAC Rate for such Distribution Date.

  • Class A-2-A Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class M-2 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-2 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-2 Certificates with respect to interest on such prior Distribution Dates and (2) interest on such excess (to the extent permitted by applicable law) at the Class M-2 Pass-Through Rate for the related Accrual Period.

  • Class H Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate.

  • Class A-3 Interest Rate means 1.49% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A Pass-Through Rate As to the Class A-1 and Class A-R Certificates, the Class A Fixed Pass-Through Rate. The Class A-PO Certificates are not entitled to interest and have no Class A Pass-Through Rate.

  • Class F Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate.