Class M Net WAC definition

Class M Net WAC means as of any Distribution Date, a per annum rate not less than zero, expressed as a percentage, equal to the product of (x) the Subordinate Adjusted Net WAC and (y) a fraction, equal to the quotient of (i) the aggregate outstanding Class Principal Amount of the Class M and Class B Certificates (calculated assuming no exchanges for MACR Certificates have occurred) immediately following the preceding Distribution Date, and (ii) the outstanding Class Principal Amount of the Class M Certificates immediately following the preceding Distribution Date.
Sample 1Sample 2Sample 3
Class M Net WAC means as of any Distribution Date, a per annum rate, not less than zero, equal to a fraction, the numerator of which is (A) the product of (i) the Subordinate Adjusted Net WAC and (ii) the aggregate Class Principal Amount of the Class M and Class B Certificates immediately following the preceding Distribution Date, and the denominator of which is (B) the Class Principal Amount of the Class M Certificates immediately following the preceding Distribution Date.
Sample 1Sample 2Sample 3
Class M Net WAC means as of any Distribution Date, a rate not less than zero, equal to the quotient of
Sample 1Sample 2Sample 3

Examples of Class M Net WAC in a sentence

  • To the extent the Class Coupon of the Class M Certificates is limited by the Class M Net WAC, such Class of Certificates will be entitled to its related Cap Carryover while its Class Principal Amount is greater than zero.

  • The Class Coupon of the Class M Certificates with respect to each Distribution Date will be a per annum rate equal to the lesser of (i) 4.25000% and (ii) the Class M Net WAC for such Distribution Date.

  • The Class Coupon of the Class M Certificates with respect to each Distribution Date will be a per annum rate equal to the lesser of (i) 4.750% and (ii) the Class M Net WAC for such Distribution Date.

  • To the extent the Class Coupon of the Class M Certificates is limited by the Class M Net WAC, such Class of Certificates will be entitled to its related Cap Carryover while outstanding.

  • The Class Coupon of the Class M Certificates with respect to each Distribution Date will be a per annum rate equal to the lesser of (i) 4.500% and (ii) the Class M Net WAC for such Distribution Date.

  • In chapter 5, the concentration is on the presentation of em- pirical data with some quotes from in-depth interviews.

  • She points to reports from the end of the financial year – March 2021 – which appear to suggest that students were increasingly returning to the campus (and that this was up by 10% from pre-pandemic levels).

  • The Class Coupon of the Class M-3 Certificates for each Distribution Date will be a per annum rate equal to the lesser of (i) 3.00% and (ii) the Class M Net WAC for such Distribution Date.

  • The Class Coupon of the Class M-2 Certificates for each Distribution Date will be a per annum rate equal to the lesser of (i) 3.00% and (ii) the Class M Net WAC for such Distribution Date.

  • To the extent the Class Coupon of the Class M-1 Certificates is limited by the Class M Net WAC, such Class of Certificates will be entitled to its related Cap Carryover.

Related to Class M Net WAC

  • 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.

  • 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-7 Certificate Any one of the Class M-7 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.

  • Class M-5 Certificate Any one of the Class M-5 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-8 Certificate Any one of the Class M-8 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.

  • 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-9 Certificate Any one of the Class M-9 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.

  • Class M-4 Certificate Any one of the Class M-4 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-3 Certificate Any one of the Class M-3 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-10 Certificate Any one of the Class M-10 Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-M-10 and evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive the Net WAC Rate Carryover Amount and (iii) the obligation to pay the Class IO Distribution Amount.

  • 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.