Final Maturity Funding Cap definition

Final Maturity Funding Cap. For any Distribution Date beginning with the Distribution Date in December 2016, the least of (i) the aggregate Certificate Principal Balance of the Interest-Bearing Certificates immediately prior to that Distribution Date, (ii) the aggregate Stated Principal Balance of all outstanding 40-Year Mortgage Loans as of the first day of the related Due Period (after giving effect to Principal Prepayments received during the Prepayment Period that ends during such Due Period) and (iii) $27,848,560.
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Final Maturity Funding Cap. For any Distribution Date beginning with the Distribution Date in April 2016, the lesser of (i) the product of (a) the aggregate Stated Principal Balance of the Mortgage Loans having an original term to maturity of 40 years as of the Due Date occurring in the month preceding the month of that Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to that prior Due Date) and (b) the fraction, the numerator of which is 1.00 and the denominator of which is 0.85, and (ii) $24,262,962.
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Examples of Final Maturity Funding Cap in a sentence

  • The earlier of (i) the Distribution Date on which the amount on deposit in the Final Maturity Reserve Fund is equal to the Final Maturity Funding Cap and (ii) the Distribution Date in December 2036.

  • The earlier of (i) the Distribution Date on which the amount on deposit in the Final Maturity Reserve Fund is equal to the Final Maturity Funding Cap and (ii) the Distribution Date in October 2036.

Related to Final Maturity Funding Cap

  • Final Maturity Date means the date that (i) is one hundred eighty (180) days following the Scheduled Termination Date or (ii) such earlier date on which the Loans become due and payable pursuant to Section 9.01.

  • Final Maturity has the meaning specified in Section 308.

  • Legal Final Maturity Date means the first Settlement Date on or after the date that is two years after the Termination Date.

  • Assumed Final Maturity Date As to each Class of Certificates, the date set forth as such in the Preliminary Statement.

  • Term Loan B Maturity Date means the earliest of (a) May 24, 2014, or (b) such earlier date upon which the Outstanding Amounts under the Term Loan Facility, including all accrued and unpaid interest, are required to be paid in full in accordance with the terms hereof.

  • Original Maturity Date means the date on which the bond reaches the end of the term for which it was initially offered and, unless further extended, ceases to earn interest.

  • Legal Maturity Date means July 15, 2024.

  • Tranche B Maturity Date means May 8, 2009, or, if such day is not a Business Day, the next preceding Business Day.

  • Restructuring Maturity Limitation Date means, with respect to a Valuation Obligation, the Limitation Date occurring on or immediately following the Credit Observation End Date. Notwithstanding the foregoing, if the final maturity date of the Restructured Bond or Loan with the latest final maturity date of any Restructured Bond or Loan occurs prior to the 2.5-year Limitation Date (such Restructured Bond or Loan, a "Latest Maturity Restructured Bond or Loan") and the Credit Observation End Date occurs prior to the final maturity date of such Latest Maturity Restructured Bond or Loan, then the Restructuring Maturity Limitation Date will be the final maturity date of such Latest Maturity Restructured Bond or Loan.

  • Revolving Maturity Date means April 22, 2024 (or, with respect to any Revolving Lender that has extended its Revolving Commitment pursuant to a Permitted Amendment, the extended maturity date, set forth in any such Loan Modification Agreement).

  • Term Loan Maturity Date means the Initial Maturity Date, or, if such date has been extended pursuant to Section 2.15, such later date to which the Term Loan Maturity Date has been extended pursuant to Section 2.15.

  • Tranche B Term Loan Maturity Date means October 20, 2016.

  • Existing Maturity Date has the meaning specified in Section 2.14(a).

  • Revolver Maturity Date means September 21, 2023, or, as to any Revolving Credit Lender for which the Revolver Maturity Date is extended pursuant to Section 2.17, the date to which the Revolver Maturity Date is so extended or, if such day is not a Business Day, the next preceding Business Day.

  • Facility Maturity Date means the earliest of (a) the Business Day designated by the Borrower to the Lender pursuant to Section 2.16(b) to terminate this Agreement, (b) the Stated Maturity or (c) the date on which the Facility Maturity Date is declared (or is deemed to have occurred automatically) pursuant to Section 7.01.

  • Term A Loan Maturity Date means July 18, 2024 or, if such date is not a Business Day, the immediately preceding Business Day.

  • Latest Term Loan Maturity Date means, at any date of determination, the latest maturity or expiration date applicable to any Term Loan hereunder at such time, including the latest maturity or expiration date of any New Term Loan or any Extended Term Loan, in each case as extended in accordance with this Agreement from time to time.

  • Term Facility Maturity Date means, as the context may require, (a) with respect to the Term B Facility in effect on the Closing Date, the Term B Facility Maturity Date and (b) with respect to any other Class of Term Loans, the maturity dates specified therefor in the applicable Incremental Assumption Agreement.

  • Springing Maturity Date has the meaning specified in the definition of “Maturity Date”.

  • Initial Maturity Date means the earlier of (i) February 1, 2020 (the "Scheduled Initial Maturity Date"), and (ii) the date on which the unpaid principal balance of this Note becomes due and payable by acceleration or otherwise pursuant to the Loan Documents or the exercise by Lender of any right or remedy thereunder.

  • Class A-2 Maturity Date means [ ] (or, if such day is not a Business Day, the next succeeding Business Day thereafter).

  • Term Loan A Maturity Date means July 29, 2025.

  • Class B Maturity Date means the January 2040 Distribution Date.

  • Loan Maturity Date means the date on which the entire unpaid balance of the Loan, including principal and interest, is due and payable.

  • New Term Loan Maturity Date means the date on which a New Term Loan matures.

  • L/C Maturity Date means the date that is five Business Days prior to the Revolving Credit Maturity Date.