Fixed Rate Group Available Funds Cap Rate definition

Fixed Rate Group Available Funds Cap Rate. As of any Payment Date, an amount, expressed as a per annum rate, equal to (A)(i) the aggregate amount of interest accrued and collected (or advanced) at the Coupon Rates on all of the Mortgage Loans in the Group I Pool for the related Remittance Period minus (ii) the aggregate of the Servicing Fee, the Premium Amount and the Trustee's Fee, in each case relating to Group I on such Payment Date, divided by (B) the aggregate outstanding principal balance of the Mortgage Loans in Group I as of the beginning of the related Remittance Period, calculated on the basis of a 360-day year consisting of twelve thirty-day months.
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Fixed Rate Group Available Funds Cap Rate. As of any Payment Date, an amount, expressed as a per annum rate and calculated on the basis of a 360-day year consisting of twelve thirty-day months, equal to (A)(i) the aggregate amount of interest accrued and collected (or advanced) at the Coupon Rates on all of the Mortgage Loans in the Group I Pool for the related Remittance Period net of Civil Relief Act Shortfalls minus (ii) the aggregate of the Servicing Fee, the Premium Amount and the Trustee's Fee, in each case relating to Group I, divided by (B) the aggregate outstanding principal balance of the Mortgage Loans in Group I as of the beginning of the related Remittance Period.
Sample 1
Fixed Rate Group Available Funds Cap Rate. As of any Payment Date, an amount, expressed as a per annum rate, equal to (A)(i) the aggregate amount of interest accrued and collected (or advanced) at the Coupon Rates on all of the Mortgage Loans in the Group I Pool for the related Remittance Period minus (ii) the aggregate of the Servicing Fee, the Premium Amount and the Trustee's Fee, in each case relating to Group I on such Payment Date, divided by (B) the aggregate outstanding principal balance of the Mortgage Loans in Group I as of the beginning of the related Remittance Period, calculated (x) with respect to the Class A-1 Certificates, on the basis of a 360-day year and the actual number of days in the related Accrual Period, and (y) with respect to the Class A-5 and A-6 Certificates, on the basis of a 360-day year consisting of twelve thirty-day months.
Sample 1

Examples of Fixed Rate Group Available Funds Cap Rate in a sentence

  • M-1-1 Date of Pooling and Servicing Agreement: Pass-Through Rate: 6.85%, As of July 1, 1997 subject to the Fixed Rate Group Available Funds Cap Rate Original Certificate Balance: $30,000,000 Cut-off Date: July 1, 1997 Aggregate Certificate Balance of All Class M-1 Certificates: $30,000,000 First Distribution Date: Percentage Interest: 100% August 15, 1997 Master Servicer: The CIT Group/Consumer CUSIP: 125589 AK 7 Finance, Inc.


More Definitions of Fixed Rate Group Available Funds Cap Rate

Fixed Rate Group Available Funds Cap Rate. With respect to any Distribution Date, an amount, expressed as a per annum rate, equal to (i) the sum of (x) the aggregate amount of interest due and collected (or advanced) on all of the Mortgage Loans in the Fixed Rate Loan Group for the related Remittance Period and (y) the excess of (A) the aggregate amount of interest due and collected (or advanced) on all of the Mortgage Loans in the Adjustable Rate Group for the related Remittance Period over (B) the aggregate of the Servicing Fee and the Trustee Fee, in each case relating to the Adjustable Rate Group and such Distribution Date, and the Current Interest with respect to the Class A-6 Certificates minus (ii) the aggregate of the Servicing Fee and the Trustee Fee, in each case relating to the Fixed Rate Loan Group, on such Distribution Date.
Sample 1
Fixed Rate Group Available Funds Cap Rate. As of any Distribution Date, is an amount, expressed as a per annum rate on the principal amount of the Fixed Rate Group Certificates, equal to the net weighted average of the Mortgage Rates on all of the Mortgage Loans in the Fixed Rate Loan Group and all of the Mortgage Loans in the Adjustable Rate Loan Group for the related Remittance Period with, for purposes of this computation, the net weighted average of the Mortgage Rates of the Mortgage Loans in the Adjustable Rate Loan Group first reduced by the Class A-4 Pass-Through Rate.
Sample 1
Fixed Rate Group Available Funds Cap Rate means as of any Distribution Date, an amount, expressed as a per annum rate (calculated on the basis of a 360 day year assumed to consist of twelve 30-day months), equal to (i) the weighted average interest rate on (A) all of the Mortgage Loans in the Fixed Rate Group as of the first day of the related Due Period and (B) a portion of each Mortgage Loan in the Adjustable Rate Group based on a fraction (which shall in no event be greater than one), the numerator of which is an amount equal to the excess of the Certificate Balance of the Fixed Rate Certificates as of the first day of the related Due Period over the aggregate Principal Balance of the Mortgage Loans in the Fixed Rate Group as of the first day of the related Due Period and the denominator of which is equal to the aggregate Principal Balance of the Mortgage Loans in the Adjustable Rate Group as of the first day of the related Due Period, minus (ii) the Master Servicing Fee, expressed as a per annum rate, minus (iii) the Weighted Carve Out Fixed Rate.
Sample 1

Related to Fixed Rate Group Available Funds Cap Rate

  • Available Funds Cap Any of the Class A-1 Available Funds Cap, the Class A-2 Available Funds Cap or the Weighted Average Available Funds Cap.

  • Excess Available Funds Percentage means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.

  • Quarterly Excess Available Funds Percentage means, with respect to the July 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Available Funds Rate With respect to any Payment Date and the Notes, the per annum rate equal to the product of (1) (a) 360 divided by (b) the actual number of days in the Accrual Period, and (2) (a) Interest Funds for such Payment Date, divided by (b) the aggregate Class Principal Amount of the Notes as of the first day of the related Accrual Period.

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • Net WAC Cap Rate With respect to any Distribution Date, the product of (i) a per annum rate equal to the weighted average of the Net Mortgage Rates (or, if applicable, the Modified Net Mortgage Rates) using the Net Mortgage Rates in effect for the Monthly Payments due on such Mortgage Loans during the related Due Period, weighted on the basis of the respective Stated Principal Balances thereof for such Distribution Date and (ii) a fraction equal to 30 divided by the actual number of days in the related Interest Accrual Period.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Class B Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class B Floating Percentage of the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date.

  • Class A Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class A Floating Percentage of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date, (b) the Class A Floating Percentage of the Reallocated Investor Finance Charge Collections and (c) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be included in Class A Available Funds with respect to such Distribution Date.

  • REMIC I Overcollateralized Amount With respect to any date of determination, (i) 1% of the aggregate Uncertificated Balance of the REMIC I Regular Interests (other than REMIC I Regular Interest I-LTP) minus (ii) the aggregate Uncertificated Balance of REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10, in each case as of such date of determination.

  • REMIC II Overcollateralization Amount With respect to any date of determination, (i) 0.50% of the aggregate Uncertificated Balances of the REMIC II Regular Interests (other than REMIC II Regular Interest P) minus (ii) the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10 and REMIC II Regular Interest M-11, in each case as of such date of determination.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Excess Overcollateralized Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date.

  • Loan Group I Cap With respect to the Group I Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group I Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.

  • Loan Group II Cap With respect to the Group II Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group II Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.

  • Targeted Overcollateralization Amount means, for a Payment Date, an amount equal to:

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • Target Overcollateralization Amount means, with respect to any Payment Date, 3.00% of the Adjusted Pool Balance as of the Cutoff Date. Notwithstanding the foregoing, the Target Overcollateralization Amount shall not exceed the Adjusted Pool Balance on such Payment Date.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Undercollateralized Amount With respect any Certificate Group and Distribution Date, the excess of (i) the aggregate Certificate Principal Balance of such Certificate Group over (ii) the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group, in each case calculated on such Distribution Date after giving effect to distributions to be made thereon (other than amounts to be distributed pursuant to Section 4.02(i) on such Distribution Date).

  • Available Funds Shortfall as defined in Section 3.04(b).

  • Total Available Funds shall have the meaning set forth in Section 5.7(a).

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Group I Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group I Principal Distribution Amount.