Deferred Interest Cap Agreement definition

Deferred Interest Cap Agreement. With respect to the Class 1-A1A, Class 1-A1B, Class 1-A3B and Class 2-A Certificates, each transaction evidenced by the related confirmation between the Trustee and the Cap Provider, forms of which are attached as Exhibit P.
Sample 1
Deferred Interest Cap Agreement. With respect to each Class of Grantor Trust Certificates, the transaction evidenced by a confirmation between the Trustee and the Deferred Interest Cap Provider in the form attached as Exhibit P. Deferred Interest Cap Provider: Xxxxxx Brothers Special Financing Inc.
Sample 1
Deferred Interest Cap Agreement. With respect to each Class of Grantor Trust Certificates, the transaction evidenced by a confirmation between the Trustee and the Cap Provider in the form attached as Exhibit P.
Sample 1

Examples of Deferred Interest Cap Agreement in a sentence

  • Deferred Interest Cap Agreement Provider 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 --------------------------------------------- ----------------------------------------------------------------------- Any notice required or permitted to be mailed to a Certificateholder shall be given by first class mail, postage prepaid, at the address of such holder as shown in the Certificate Register.

  • The amount of the reduction of Current Interest distributable to each Class of Certificates attributable to Net Negative Amortization will be added to the Class Principal Amount of that Class (other than the Grantor Trust Certificates, unless the related Deferred Interest Cap Agreement has been terminated or there has been a default in payment under the related Deferred Interest Cap Agreement).

  • Solely for federal income tax purposes, (i) each Underlying Interest, (ii) the related Deferred Interest Cap Agreement, (iii) the related Deferred Interest Cap Account and (iv) the related Grantor Trust Certificate Account shall be treated as comprising a “grantor trust” within the meaning of the Grantor Trust Provisions for the benefit of the holders of the related Grantor Trust Certificates.

  • The Trustee shall deposit any amounts received from time to time from the Cap Provider with respect to each Deferred Interest Cap Agreement into the applicable Deferred Interest Cap Account.

  • The Grantor Trust Trustee is hereby authorized and directed to, and agrees that it shall enter into each Deferred Interest Cap Agreement on behalf of the related Grantor Trust.

  • In the case of the Grantor Trust Certificates, the related Deferred Interest Cap Agreement will provide for payment to the related Grantor Trust Fund on each Distribution Date an amount equal to the Deferred Interest allocated to the Class 1-A2A2U Certificates (in the case of the Deferred Interest Cap Agreement related to the Class 1-A2A2 Certificates) or Class 1-A3A2U Certificates (in the case of the Deferred Interest Cap Agreement related to the Class 1-A3A2 Certificates).

  • The Trustee shall deposit any amounts received from time to time from the Cap Provider with respect to each Deferred Interest Cap Agreement into the Deferred Interest Cap Account.

  • For federal income tax purposes, the Class A1B, Class A2A, Class A3, Class A4 or Class A5A Certificates shall each evidence a beneficial interest in the Deferred Interest Cap Agreement related to such Class and the Deferred Interest Cap Account related to such Deferred Interest Cap Agreement.

  • For federal income tax purposes, the Class 1-A2A2 Certificates and the Class 1-A3A2 Certificates shall each evidence a beneficial interest in the Deferred Interest Cap Agreement related to such Class and the portion of the Deferred Interest Cap Account related to such Deferred Interest Cap Agreement.

  • The Trustee’s rights to receive certain proceeds of each Deferred Interest Cap Agreement as provided in each Deferred Interest Cap Agreement shall be rights of the Trustee under this Agreement, shall be an asset of the Class 1-A2A2 Grantor Trust or Class 1-A3A2 Grantor Trust, as applicable, and shall not be an asset of the Trust Fund nor of any REMIC.


More Definitions of Deferred Interest Cap Agreement

Deferred Interest Cap Agreement. Not applicable.
Sample 1

Related to Deferred Interest Cap Agreement

  • Deferred Interest shall have the meaning set forth in Section 4.1.

  • Class Optimal Interest Distribution Amount With respect to any Distribution Date and interest-bearing Class, the sum of (i) one month's interest accrued during the related Interest Accrual Period at the Pass-Through Rate for such Class, on the related Class Certificate Balance or Notional Amount, as applicable, immediately prior to such Distribution Date, subject to reduction pursuant to Section 4.02(d), and (ii) any Class Unpaid Interest Amounts for such Class.

  • Class B 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 B 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 B Rate or, in the case of the first Payment Date, on the Class B Initial Principal Balance.

  • 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.

  • Certificate Interest Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Interest Distributable Amount for such Payment Date and the Certificate Interest Carryover Shortfall for such Payment Date.

  • Note Interest Distributable Amount means, with respect to any Payment Date and a Class of Notes, the sum of the Note Monthly Interest Distributable Amount for such Payment Date and the Note Interest Carryover Shortfall for such Class of Notes. For all purposes of this Agreement and the other Basic Documents, interest with respect to the Class A-2, Class A-3 and Class A-4 Notes shall be computed on the basis of a 360-day year consisting of twelve 30-day months; and interest with respect to the Class A-1 Notes shall be computed on the basis of the actual number of days in each applicable Interest Accrual Period, divided by 360.

  • 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-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 D Interest Coverage Ratio means, as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date, the ratio (expressed as a percentage) obtained by dividing the Interest Coverage Amount by the scheduled interest payments due on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes on the following Payment Date. For the purposes of calculating the Class D Interest Coverage Ratio, the expected interest income on Collateral Obligations, Eligible Investments and the Accounts (to the extent applicable) and the expected interest payable on the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes will be calculated using the then current interest rates applicable thereto as at the relevant Measurement Date.

  • Aggregate Class B Interest Distributable Amount With respect to any Distribution Date, the sum of (i) the Note Class Interest Distributable Amount for the Class B Notes as of such Distribution Date and (ii) the Class B Interest Carryover Shortfall as of the close of the preceding Distribution Date.

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

  • Aggregate Class C Interest Distributable Amount With respect to any Distribution Date, the sum of (i) the Note Class Interest Distributable Amount for the Class C Notes as of such Distribution Date and (ii) the Class C Interest Carryover Shortfall as of the close of the preceding Distribution Date.

  • Class E Interest Rate means 4.99% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A/B Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class A/B Interest Coverage Ratio is at least equal to 120.0 per cent.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class A Interest Distributable Amount means, with respect to any Distribution Date and each class of Class A Notes, an amount equal to the sum of: (i) the aggregate amount of interest accrued on the Class A Notes at the related Note Rate from and including the preceding Distribution Date (or, in the case of the initial Distribution Date, from and including the Closing Date) to but excluding the current Distribution Date plus (ii) the related Class A Interest Carryover Shortfall for the current Distribution Date.

  • Interest Distributable Amount With respect to any Distribution Date and each Class of Certificates, the sum of (i) the Monthly Interest Distributable Amount for that Class and (ii) the Unpaid Interest Shortfall Amount for that Class.

  • Net Deferred Interest With respect to each Loan Group and any Distribution Date, the greater of (i) the excess, if any, of the Deferred Interest for the related Due Date over the aggregate amount of any principal prepayments in part or in full received during the related Prepayment Period and (ii) zero.

  • Aggregate Class A Interest Distributable Amount With respect to any Distribution Date, the sum of (i) the aggregate of the Note Class Interest Distributable Amount for each class of the Class A Notes as of such Distribution Date and (ii) the Class A Interest Carryover Shortfall as of the close of the preceding Distribution Date.

  • Note Class Interest Distributable Amount With respect to any class of Notes and any Distribution Date, the product of (i) the outstanding principal balance of such class of Notes as of the close of the preceding Distribution Date (or, in the case of the first Distribution Date, the outstanding principal balance of such class of Notes on the Closing Date) and (ii) in the case of (a) the Notes, other than the Class A-1 Notes, one-twelfth of the Interest Rate for such class (or, in the case of the first Distribution Date, the Interest Rate for such class multiplied by a fraction, the numerator of which is 31 and the denominator of which is 360) and (b) in the case of the Class A-1 Notes, the product of the Interest Rate for such class of Notes for such Distribution Date and a fraction, the numerator of which is the number of days elapsed from and including the prior Distribution Date (or, in the case of the first Distribution Date, from and including the Closing Date), to but excluding that Distribution Date and the denominator of which is 360. Note Depository: The depository from time to time selected by the Indenture Trustee on behalf of the Issuing Entity in whose name the Notes are registered prior to the issue of Definitive Notes. The first Note Depository shall be Cede & Co., the nominee of the initial Clearing Agency.

  • Postponed Fixed Interest Date means the tenth Business Day following the originally scheduled Fixed Interest Date;

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Noteholders’ Monthly Interest Distributable Amount means, with respect to any Distribution Date and any Class of Notes, interest accrued at the respective Interest Rate during the applicable Interest Period on the principal amount of the Notes of such Class outstanding as of the end of the prior Distribution Date (or, in the case of the first Distribution Date, as of the Closing Date), calculated (x) for the Class A-1 Notes and the Class A-2-B Notes on the basis of a 360-day year and the actual number of days elapsed in the applicable Interest Period and (y) for all other Classes of Notes on the basis of a 360-day year consisting of twelve 30-day months (without adjustment for the actual number of business days elapsed in the applicable Interest Period), except with respect to the first Interest Period.

  • Class D Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class D Interest Coverage Ratio is at least equal to 105.0 per cent.

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