Class A-2 Available Funds Cap. With respect to a Distribution Date, the per annum rate equal to the product of (i) 12 and (ii) the quotient of (x) the total scheduled interest on the Group Two Mortgage Loans 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 Group Two Mortgage Loans to the total pool of Mortgage Loans) allocable to the Group Two 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, divided by (y) the aggregate Stated Principal Balance of the Group Two Mortgage Loans as of the first day of the related Accrual Period and multiplied by 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-2 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 Two 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 Two 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-2 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 Two Mortgage Loans 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 Two Mortgage Loans to the Stated Principal Balance of the total pool of Mortgage Loans) allocable to the Group Two 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 Group Two 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-2 Available Funds Cap shall relate to the Class A-2 Certificates.
Examples of Class A-2 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.
On each Distribution Date, the Trustee shall withdraw from the Basis Risk Reserve Fund amounts required to make distributions of the Class A-2 Available Funds Cap Carryforward to the Class A-2 Certificateholders.
For purposes of applying the Class A-2 Available Funds Cap, the rate determined under such cap shall be adjusted to account for the day count convention applicable to the Class A-2 Certificates and the Class A-IO-V Certificates.
For any Distribution Date, if the amount by which the Class A-2 Available Funds Cap exceeds the Class A-2 Certificate Rate by [___] basis points or less, the excess of (x) the greater of (1) $[_______] and (2) the Class A-2 Available Funds Cap Carryforward, over (y) the amount on deposit in the Basis Risk Reserve Fund prior to deposits thereto on such Distribution Date.
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.
More Definitions of Class A-2 Available Funds Cap
Class A-2 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 Two based on the Net Mortgage Rates in effect on the related Due Date and (2) the Required Withdrawal for Group Two 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 Two 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 Two over (b) the aggregate of principal payments received with respect to the Subsequent Mortgage Loans in Group Two that were distributed on prior Distribution Dates and losses with respect to principal incurred with respect to the Subsequent Mortgage Loans in Group Two 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 Two 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 Two to the Stated Principal Balance of the total pool of Mortgage Loans) allocable to the Mortgage Loans in Group Two 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 Two as of the first day of the related Accrual Period and (iii) ...
Class A-2 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 Two 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 Two 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-2 Available Funds Cap. As to any Distribution Date, a per annum rate equal to (a) the weighted average of the Loan Rates of the Group 2 Mortgage Loans as of the first day of the related Due Period, weighted on the basis of the related Principal Balances as of such date, reduced by (b)(i) the Servicing Fee Rate, (ii) the Trustee Fee Rate and (iii) the related Premium Percentage.
Class A-2 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 Two 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 Two 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-2 Cap Contract: The amended confirmation and agreement and any related confirmation thereto, between the Trust Fund or Trustee and the Cap Contract Counterparty (in the form of Exhibit N-2 hereto). Class A-2 Cap Contract Notional Balance: With respect to any Distribution Date, the Class A-2 Cap Contract Notional Balance set forth for such Distribution Date in the Class A-2 One-Month LIBOR Cap Table attached hereto as Exhibit O-2. Class A-2 Cap Contract Termination Date: The Distribution Date in September 2008.
Class A-2 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 Two 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 Two 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-2 Cap Contract: The confirmation and agreement and any related confirmation thereto, between the Trust Fund or Trustee and the Cap Contract Counterparty (in the form of Exhibit O-2 hereto). Class A-2 Cap Contract Notional Balance: With respect to any Distribution Date, the Class A-2 Cap Contract Notional Balance set forth for such Distribution Date in the Class A-2 One Month LIBOR Cap Table attached hereto as Exhibit P-2. Class A-2 Cap Contract Termination Date: The day after the Distribution Date in February 2012. Class A-2 Certificates: The Class A-2A, Class A-2B and Class A-2C Certificates. Class A-2 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 Two and the Net Mortgage Rates on the Fixed Rate Mortgage Loans in Group Two. The Class A-2 Maximum Rate Cap shall relate to the Class A-2 Certificates.
Class A-2 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 Two 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 Two 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-2 Cap Contract: The confirmation and agreement dated as of May 26, 2005, as amended from time to time, with a reference number of IRG6756977.2A.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-2 hereto). Class A-2 Cap Contract Notional Balance: With respect to any Distribution Date, the lesser of (a) the notional balance set forth for such Distribution Date in the Class A-2 One-Month LIBOR Cap Table attached hereto as Exhibit O-2 and (b) the aggregate Certificate Principal Balance of the Class A-2 Certificates immediately prior to the related "Floating Rate Payer Payment Date" (as defined in the Class A-2 Cap Contract). Class A-2 Cap Contract Termination Date: The Distribution Date in October 2007.
Class A-2 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 Two Mortgage Loans 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 Two Mortgage Loans to the Stated Principal Balance of the total pool of Mortgage Loans) allocable to the Group Two 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 Group Two 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-2 Available Funds Cap shall relate to the Class A-2 Certificates. Class A-2 Certificates: Any of the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates. Class A-2 Corridor Contract: The confirmation and agreement, including the schedule thereto and the related credit support annex (attached as Exhibit M-4 hereto), between the Trustee on behalf of the Issuing Entity and the Cap Contract Counterparty (attached as Exhibit M-2 hereto), with respect to the Class A-2 Certificates.