Class M Interest Rate definition

Class M Interest Rate. Cap: Beginning on the first Distribution Date, and for a period of 43 months thereafter, an Interest Rate Cap will be pledged to the Trust for the benefit of the Class M Certificates. For its duration, the Class M Interest Rate Cap pays the Trust the product of (i) the difference between the then current 1-month LIBOR rate (not to exceed the cap ceiling) and the cap strike (on an Actual/360 day count basis) and (ii) the Class M Interest Rate Cap Notional Balance ("the Class M Interest Rate Cap Payment") as described on the schedule herein.
Class M Interest Rate. Cap The Class M Interest Rate Cap Payment shall be Payment Allocation: available to pay any Basis Risk Carry Forward Amount due to the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates on a pro rata basis.
Class M Interest Rate. Cap The Class M Interest Rate Cap Payment shall be Payment Allocation: available to pay any Basis Risk Carry Forward Amount due to the Class M-1, Class M-2 and Class M-3 Certificates on a pro rata basis. The information herein has been prepared solely for informational purposes and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any trading strategy. No representation or warranty can be given with respect to the accuracy or completeness of the information herein, or that any future offer of securities, instruments or transactions will conform to the terms hereof. Please refer to the important information and qualifications on the last page hereof when reviewing this information. -------------------------------------------------------------------------------- Page 8 Class B Interest Rate Cap: Beginning on the first Distribution Date, and for a period of 38 months thereafter, an Interest Rate Cap will be entered into by the Trust for the benefit of the Class B Certificates. For its duration, the Class B Interest Rate Cap pays the Trust the product of (i) the excess, if any, of the then current 1-month LIBOR rate (not to exceed the cap ceiling) over the cap strike (on an Actual/360 day count basis) and (ii) the Class B Interest Rate Cap Notional Balance ("the Class B Interest Rate Cap Payment") as described on the schedule herein.

Examples of Class M Interest Rate in a sentence

  • For its duration, the Class M Interest Rate Cap pays the Trust the product of (i) the excess, if any, of the then current 1-month LIBOR rate (not to exceed the cap ceiling) over the cap strike (on an Actual/360 day count basis) and (ii) the Class M Interest Rate Cap Notional Balance ("the Class M Interest Rate Cap Payment") as described on the schedule herein.

  • Calculation of Class M Interest Distributable Amount Class M Interest Rate 7.51% Days in Period (30/360 convention) 30 Class M Balance $64,583,000.00 Class M Interest Carryover Shortfall $0.00 Class M Interest Distributable Amount $404,181.94 ====================== E.

  • Calculation of Class M Interest Distributable Amount Class M Interest Rate 7.51% Days in Period (30/360 convention) 30 Class M Balance $64,583,000.00 Class M Interest Carryover Shortfall $0.00 Class M Interest Distributable Amount $404,181.94 =================== E.

  • Class M Interest The Class M Interest Rate Cap Payment shall be Rate Cap Payment available to pay any Basis Risk Carry Forward Amount Allocation: due to the Class M-1, Class M-2 and Class M-3 Certificates on a pro rata basis.

  • Class M Interest Rate Cap: Beginning on the first Distribution Date, and for a period of 43 months thereafter, an Interest Rate Cap will be entered into by the Trust for the benefit of the Class M Certificates.

  • For its duration, the Class M Interest Rate Cap pays the Trust the product of (i) the difference between the then current 1-month LIBOR rate (not to exceed the cap ceiling) and the cap strike (on an Actual/360 day count basis) and (ii) the Class M Interest Rate Cap Notional Balance ("the Class M Interest Rate Cap Payment") as described on the schedule herein.


More Definitions of Class M Interest Rate

Class M Interest Rate means 7.51% per annum (computed on the basis of a 360-day year of twelve 30-day months).
Class M Interest Rate means a per annum rate of interest equal to one month LIBOR plus 0.420%, but in no case more than 9.96%, calculated on the basis of the actual number of days elapsed and a year of 360 days.
Class M Interest Rate means 0.39% per annum in excess of LIBOR as determined on the related LIBOR Determination Date.

Related to Class M Interest Rate

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

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

  • Class M-4 Pass-Through Rate For the first Distribution Date, 4.790% per annum, and for any Distribution Date thereafter, the lesser of (i) One-Month LIBOR for the related Accrual Period plus the Class M-4 Margin for such Distribution Date and (ii) the Interest Rate Cap for such Distribution Date.

  • Class M-5 Pass-Through Rate For the first Distribution Date, 5.7700% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class M-5 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 M-1 Pass-Through Rate For the first Distribution Date, ____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-1 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

  • Class M-1 Margin For any Distribution Date (i) on or prior to the Optional Termination Date, 0.700% per annum and (ii) thereafter, 1.050% per annum.

  • Class M-2 Margin For any Distribution Date on or prior to the Optional Termination Date, 0.900% per annum and, for any Distribution Date after the Optional Termination Date, 1.350% per annum.

  • 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 M PRINCIPAL BALANCE As of any Distribution Date, (a) the Class M Principal Balance for the immediately preceding Distribution Date less (b) amounts distributed to the Class M Certificateholders on such preceding Distribution Date allocable to principal (including the principal portion of Advances of the Servicer made pursuant to Section 6.03 and Realized Losses allocated to the Class M Certificates pursuant to Section 6.04); provided that the Class M Principal Balance on the first Distribution Date shall be the Original Class M Principal Balance, and provided further that if the aggregate Outstanding Certificate Principal Balance of the Class B Certificates has been reduced to zero, as of any Distribution Date, the Class M Principal Balance will equal the excess of the Mortgage Pool Principal Balance (together with the portion of any Monthly Payment due but not paid with respect to which an Advance has not been made) over the Class A Principal Balance.

  • Class M-3 Margin As of any Distribution Date up to and including the Initial Optional Termination Date, 0.3300% per annum and, as of any Distribution Date after the Initial Optional Termination Date, 0.4950% per annum.

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

  • Class M-4 Margin With respect to any Distribution Date prior to the second Distribution Date after the first possible Optional Termination Date, 0.520% per annum, and on any Distribution Date on or after the second Distribution Date after the first possible Optional Termination Date, 0.780% per annum.

  • 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).

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

  • Class M-1 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class M-1 Pass-Through Rate on the Class M-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 Class M-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 M-1 Certificates.

  • Class M-2 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class M-2 Pass-Through Rate on the Class M-2 Certificate Principal Balance as of such Distribution Date plus the portion of any previous distributions on such Class in respect of Current Interest or Class M-2 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 M-2 Certificates.

  • 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 M Notes means any one of the Notes executed by the Owner Trustee, on behalf of the Issuer, and authenticated by or on behalf of the Indenture Trustee, substantially in the form of Exhibit A-2.

  • Class M-2 Certificate Principal Balance As of any date of determination, the aggregate Certificate Principal Balance of the Class M-2 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 E Interest Rate means 4.99% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class M-1 Certificate Principal Balance As of any date of determination, the aggregate Certificate Principal Balance of the Class M-1 Certificates.

  • 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 M-1 Certificate Any one of the Class M-1 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-2 Certificate Any one of the Class M-2 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-6 Certificate Any one of the Class M-6 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.