Class A-2 Maximum Rate Cap definition

Class A-2 Maximum Rate 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 that would have been due on the Group Two 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 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 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 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.
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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.
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Class A-2 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 2 Mortgage Loans had the Group 2 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 2 Mortgage Loans to the Stated Principal Balance of the total pool of Mortgage Loans) allocable to the Group 2 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 2 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 Maximum Rate Cap shall relate to the Class A-2 Certificates.
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More Definitions of Class A-2 Maximum Rate Cap

Class A-2 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 Two 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 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 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 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. The Class A-2 Maximum Rate Cap shall relate to the Class A-2 Certificates.
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Class A-2 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 Two 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 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 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 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 that would have been due on the Group Two 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 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 ...
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Class A-2 Maximum Rate Cap. With respect to any Distribution Date, the per annum rate equal to 12 times the quotient of (x) the total scheduled interest that would have been due on the Group Two Mortgage Loans during the related Due Period had the Adjustable Rate Mortgage Loans in Group Two provided for interest at their maximum lifetime Net Mortgage Rates and the Fixed Rate Mortgage Loans in Group Two provided for interest at their Net Mortgage Rates over divided by (y) the aggregate Stated Principal Balance of the Group Two Mortgage Loans in as of the preceding Distribution Date (or in the case of the first Distribution Date, as of the Cut-off Date), multiplied by 30 and divided by the actual number of days in the related Accrual Period. The Class A-2 Maximum Rate Cap shall relate to the Class A-2 Certificates.
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Class A-2 Maximum Rate 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 that would have been due on the Included Mortgage Loans in Group Two 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 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) plus amounts on deposit in the Pre-Funding Account for Group Two (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 Two) and the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period.
Sample 1
Class A-2 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 II Mortgage Loans for the related Collection Period at their 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 II Mortgage Loans (as of the first day of the related Collection Period) expressed on the basis of a 360 day year consisting of twelve 30-day months.
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Related to Class A-2 Maximum Rate Cap

  • Maximum Rate Cap Any of the Class A-1 Maximum Rate Cap, the Class A-2 Maximum Rate Cap or the Weighted Average Maximum Rate Cap.

  • Net Rate Cap With respect to any Distribution Date and the Class A-1, Class A-2, Class A-3 and Class M Certificates, the excess of (A) a per annum rate equal to the product of (x) the weighted average of the Net Mortgage Rates on the then outstanding Mortgage Loans, weighted based on the Stated Principal Balances of such Mortgage Loans as of the related Due Date prior to giving effect to any reduction in the Stated Principal Balances of such Mortgage Loans on such Due Date, and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Accrual Period, over (B) an amount, expressed as a per annum rate, equal to the sum of (i) the Net Swap Payment payable to the Swap Provider on such Distribution Date and (ii) an amount equal to the Swap Termination Payment not due to a Swap Provider Trigger Event payable to the Swap Provider, divided by the aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the related Due Date prior to giving effect to any reduction in the Stated Principal Balances of such Mortgage Loans on such Due Date, multiplied by 12. With respect to any Distribution Date and the REMIC III Regular Interests the ownership of which is represented by the Class A-1, Class A-2, Class A-3 and Class M Certificates, a per annum rate equal to the weighted average (adjusted for the actual number of days elapsed in the related Accrual Period) of the Uncertificated REMIC II Pass-Through Rates on the REMIC II Regular Interests (other than REMIC II Regular Interests IO and P), weighted on the basis of the Uncertificated Principal Balances of each such REMIC II Regular Interest immediately prior to such Distribution Date.

  • Maximum Rate shall have the meaning assigned to such term in Section 9.09.

  • Maximum Swingline Amount means $5,000,000.

  • Class A-1 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class A-1 Pass-Through Rate on the Class A-1 Certificate Principal Balance as of such Distribution Date plus the portion of any previous distributions on such Class in respect of Current Interest or a Class A-1 Interest Carry Forward Amount that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class A-1 Certificates.

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

  • Class A-2-B Interest Rate means LIBOR + 0.27% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360 day year); provided, however, that for any Interest Period for which the sum of LIBOR + 0.27% is less than 0.00%, the Class A-2-B Interest Rate shall be deemed to be 0.00%.

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

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Initial Class A-2 Note Balance means $235,000,000.

  • Class A-2 Note Interest Rate means a rate per annum equal to %.

  • Class A-2 Principal Distribution Amount With respect to any Distribution Date on or after the Stepdown Date and on which a Trigger Event is not in effect, the excess of (x) the sum of the Certificate Principal Balances of the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 58.00% and (ii) the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced and unscheduled collections of principal received during the related Prepayment Period) and (B) the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced and unscheduled collections of principal received during the related Prepayment Period) minus the product of (i) 0.50% and (ii) the aggregate principal balance of the Group II Mortgage Loans as of the Cut-off Date.

  • Class A-2b Interest Rate means LIBOR + 0.16% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Initial Class A-3 Note Balance means $380,000,000.

  • Initial Class A-1 Note Balance means $265,000,000.

  • Class A-4 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class A‑4 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑4 Rate or, in the case of the first Payment Date, on the Class A‑4 Initial Principal Balance.

  • Class A-1 Rate means 5.604% per annum (computed on the basis of the actual number of days elapsed during the relevant Interest Period and a 360‑day year).

  • Class A-3 Note Interest Rate means a rate per annum equal to %.

  • Class A-1 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of the actual number of days in such Interest Period and a year assumed to consist of 360 days) on the Class A‑1 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑1 Rate or, in the case of the first Payment Date, on the Class A‑1 Initial Principal Balance.

  • Class A-2 Note Balance means, at any time, the Initial Class A-2 Note Balance reduced by all payments of principal made prior to such time on the Class A-2 Notes.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-2 Monthly Interest means (i) for the initial Distribution Date, $321,750.00, and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-2 Rate and (B) the outstanding principal balance of the Class A-2 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-2 Notes on or before such preceding Distribution Date).

  • Initial Class A-4 Note Balance means $125,000,000.

  • Interest Rate Cap Payment (a) With respect to the Group II Class A Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 35 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Group II Class A Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class A-2, Class A-3 and Class A-4 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; (b) with respect to the Class M Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class M-1, Class M-2 and Class M-3 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; and (c) with respect to the Class B Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class B Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class B-1, Class B-2 and Class B-3 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date.

  • Class A-3 Interest Distributable Amount means the amount of interest accrued during the related Interest Period (calculated on the basis of a 360 day year consisting of twelve 30 day months) on the Class A‑3 Principal Balance as of the immediately preceding Payment Date (after giving effect to payments of principal made on such immediately preceding Payment Date) at the Class A‑3 Rate or, in the case of the first Payment Date, on the Class A‑3 Initial Principal Balance.

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