Group 1 Cap definition

Group 1 Cap. As of any Distribution Date and the Class A-1 Certificates, a per annum rate, adjusted by multiplying such rate by a fraction equal to 30 over the actual number of days in the related Interest Accrual Period, equal to the Weighted Average Net Mortgage Interest Rate for the Group 1 Mortgage Loans.
Sample 1Sample 2Sample 3
Group 1 Cap. As of any Distribution Date and the Class A-1 Certificates, a per annum rate, adjusted by multiplying such rate by a fraction equal to 30 over the actual number of days in the related Interest Accrual Period, equal to the Weighted Average Net Mortgage Interest Rate for the Group 1 Mortgage Loans. For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of the REMIC 1 Remittance Rate on REMIC 1 Regular Interest LT1GRP, weighted on the basis of the Uncertificated Balance of such REMIC 1 Regular Interest.
Sample 1Sample 2Sample 3
Group 1 Cap. For any Distribution Date and for the Class A-1 Certificates, (a) a per annum rate (subject to adjustment based on the actual number of days elapsed in the related Interest Accrual Period) equal to the Weighted Average Net Mortgage Interest Rate for the Group 1 Mortgage Loans minus (b) a percentage, expressed as a per annum rate (subject to an adjustment based on the actual number of days elapsed in the related Interest Accrual Period), calculated as a fraction, the numerator of which is the sum of (i) any Net Swap Payment owed to the Swap Provider and (ii) any Swap Termination Payment owed to the Swap Provider (other than any Swap Termination Payment resulting from a Swap Provider Trigger Event) and the denominator of which is the Pool Balance as of the first day of the related Collection Period.
Sample 1Sample 2

Examples of Group 1 Cap in a sentence

  • The Certificate Interest Rate for the Class A-1 Certificates for each Distribution Date will be the least of (i) One-Month LIBOR as of the related LIBOR Determination Date plus the Class A-1 Certificate Margin, (ii) the Group 1 Maximum Rate Cap and (iii) the Group 1 Cap.

  • Concurrently with the execution of this Agreement, the Group 1 Swap Agreement and the Group 1 Cap Agreement shall be delivered to the Trustee.

  • In addition, the Trustee shall hold the Group 1 Cap Agreement as an asset in the Pool 1 Basis Risk Reserve Fund.

  • The Group 1 Cap Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other monies, including, without limitation, other monies of the Trustee held pursuant to this Agreement.

  • All income and gain realized from any such investment shall be deposited in the Group 1 Cap Termination Receipts Account or the Group 1 Cap Replacement Receipts Account, as applicable, and all losses, if any, shall be borne by the related account.

  • The Trustee shall have no duty or responsibility to enter into any other interest rate swap agreement or interest rate cap agreement upon the expiration or termination of the Group 1 Swap Agreement and the Group 1 Cap Agreement.

  • Amounts on deposit in the Group 1 Cap Replacement Receipts Account shall be held for the benefit of the Group 1 Cap Counterparty and paid to the Group 1 Cap Counterparty if the Supplemental Interest Trust is required to make a payment to the Group 1 Cap Counterparty following an event of default or termination event with respect to the Supplemental Interest Trust under the Group 1 Cap Agreement.

  • In addition, for purposes of the REMIC Provisions, the Class C Certificate shall represent beneficial ownership of (i) the Group 1 Carryover Reserve Fund, and the Group 1 Cap Account; and (ii) an interest in the notional principal contracts described in Section 9.11 hereof.

  • If the ERISA-Restricted Trust Certificate is a Book-Entry Certificate prior to the termination of the Group 1 Swap Agreement and the Group 1 Cap Agreement, the transferee will be deemed to have made a representation as provided in clause (i) or (ii) of this paragraph, as applicable.

  • Any interest earnings on such amounts shall be remitted to the Group 1 Cap Counterparty, the Group 1 Swap Counterparty, the Balance Guaranteed Cap Counterparty or the Group 2 Swap Counterparty, as applicable, pursuant to the terms of the related Credit Support Annex.


More Definitions of Group 1 Cap

Group 1 Cap. As to any Distribution Date and the Class 1-A-1 and Class 1-A-2 Certificates, the lesser of (i) 11.00% and (ii) a per annum rate equal to the product of (a) the Net WAC of the Group 1 Mortgage Loans and (b) a fraction, the numerator of which is the actual number of days in the related Interest Accrual Period and the denominator of which is 30.
Sample 1
Group 1 Cap. For any Distribution Date and for the Class A-1 Certificates, (a) a per annum rate (subject to adjustment based on the actual number of days elapsed in the related Interest Accrual Period) equal to the Weighted Average Net Mortgage Interest Rate for the Group 1 Mortgage Loans minus (b) a percentage, expressed as a per annum rate (subject to an adjustment based on the actual number of days elapsed in the related Interest Accrual Period), calculated as a fraction, the numerator of which is the sum of (i) any Net Swap Payment deposited into the Supplemental Interest Trust for payment to the Swap Provider and (ii) any Swap Termination Payment deposited into the Supplemental Interest Trust for payment to the Swap Provider (other than any Swap Termination Payment resulting from a Swap Provider Trigger Event) and the denominator of which is the sum of (x) the Pool Balance as of the first day of the related Collection Period and (y) any amounts in the Pre-Funding Accounts as of the first day of the related Collection Period.
Sample 1
Group 1 Cap. With respect to each Distribution Date and the Group 1 Certificates, a per annum rate, equal to the product of (x) a fraction, expressed as a percentage, the numerator of which is (1) the amount of interest accrued on the Group 1 Mortgage Loans on the Due Date occurring in the prior calendar month, minus (2) the sum of (x) the Servicing Fee and the Credit Risk Manager Fee with respect to the Group 1 Mortgage Loans, (y) the Group 1 Allocation Percentage of any Net Swap Payment owed to the Swap Provider and (z) the Group 1 Allocation Percentage of any Swap Termination Payment (other than any Swap Termination Payment resulting from a Swap Provider Trigger Event) payable by the Trust, and the denominator of which is equal to the sum of (i) the aggregate Principal Balance of the Group 1 Mortgage Loans as of the last day of the immediately preceding Collection Period, after giving effect to Principal Prepayments received during the related Prepayment Period and (ii) the amount on deposit in the Group 1 Pre-Funding Account and (b) 12 and (y) a fraction whose numerator is 360 and whose denominator is the actual number of days elapsed in the related Interest Accrual Period. For federal income tax purposes and the REMIC 4 Regular Interests the ownership of which is represented by the Class A-1 Certificates, the weighted average (adjusted for the actual number of days elapsed in the related Accrual Period) of the Uncertificated REMIC 3 Pass-Through Rate on REMIC 3 Regular Interest LT1GRP, weighted on the basis of the Uncertificated Balance of such REMIC 3 Regular Interest immediately prior to such Distribution Date.
Sample 1
Group 1 Cap. As of any Distribution Date and the Class A-1 Certificates, a per annum rate, adjusted by multiplying such rate by a fraction equal to 30 over the actual number of days in the related Interest Accrual Period, equal to the Weighted Average Net Mortgage Interest Rate for the Group 1 Mortgage Loans less the sum of (i) the product of (a) the Pass-Through Rate of the Class AIO Certificates for such Distribution Date and (b) a fraction, expressed as a percentage, the numerator of which is the Notional Amount of the Class AIO Certificates immediately prior to such Distribution Date and the denominator of which is the Pool Balance as of the first day of the related Collection Period and (ii) the Pass-Through Rate of the Class AIO-INV Certificates.
Sample 1

Related to Group 1 Cap

  • 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.

  • Loan Group Cap The Loan Group I Cap or the Loan Group II Cap, as applicable.

  • Group 1 Certificates As specified in the Preliminary Statement.

  • Group 1 Senior Certificates As specified in the Preliminary Statement.

  • Group 2 Senior Certificates As specified in the Preliminary Statement.

  • 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.

  • Group II Senior Certificates As specified in the Preliminary Statement.

  • Loan Group 1 Principal Distribution Amount With respect to any Distribution Date, that portion, if any, of the Principal Distribution Amount attributable to Loan Group 1.

  • Net WAC Cap The Group 1 Net WAC Cap, the Group 2 Net WAC Cap or the Subordinate WAC Cap, as applicable.

  • Loan Group 4 The Group 4 Mortgage Loans.

  • Group 2 Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group 2 Senior Percentage of the Principal Payment Amount for Loan Group 2, (b) the Group 2 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 2 and (c) the Group 2 Senior Liquidation Amount.

  • Loan Group 5 The Group 5 Mortgage Loans.

  • Group 3 Senior Certificates As specified in the Preliminary Statement.

  • Group 1 Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group 1 Senior Percentage of the Principal Payment Amount for Loan Group 1, (b) the Group 1 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 1 and (c) the Group 1 Senior Liquidation Amount.

  • Group I Senior Certificates As specified in the Preliminary Statement.

  • Subordinate Certificates As specified in the Preliminary Statement.

  • Group 1 Principal Distribution Amount With respect to any Distribution Date is the sum of (i) the Group 1 Basic Principal Distribution Amount for such Distribution Date and (ii) the product of (a) the Overcollateralization Increase Amount for such Distribution Date and (b) the Group 1 Percentage.

  • Group III Senior Principal Distribution Amount As to any Distribution Date, the sum of (i) the Group III Senior Percentage of the Principal Payment Amount for Loan Group III, (ii) the applicable Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group III, and (iii) the Group III Senior Liquidation Amount.

  • Senior Certificates As specified in the Preliminary Statement.

  • Group II Stepdown Date The later to occur of (i) the Distribution Date in [Month/Year] or (ii) the first Distribution Date on which (A) the Group II Class A Certificate Principal Balance (reduced by the Group II Principal Funds with respect to such Distribution Date) is less than or equal to (B) ___% of the Stated Principal Balances of the Group II Mortgage Loans plus the Pre-Funded Amount allocable to Loan Group II, in each case, as of such Distribution Date.

  • Group II Senior Percentage For any Distribution Date, the lesser of (i) 100% and (ii) the aggregate Class Principal Balance of the Group II-A and Residual Certificates divided by the aggregate Class Principal Balance of the Group II Loans (exclusive of the Class II-P Fraction thereof, with respect to any Class II-P Mortgage Loan), in each case immediately before such Distribution Date.

  • Loan Group 3 The Group 3 Mortgage Loans.

  • Class B-1 Applied Realized Loss Amount As of any Distribution Date, the sum of all Applied Realized Loss Amounts with respect to the Mortgage Loans which have been applied to the reduction of the Certificate Principal Balance of the Class B-1 Certificates.

  • Group 2 Certificates As specified in the Preliminary Statement.

  • Subordinate Certificate Writedown Amount As to any Distribution Date, the amount by which (i) the sum of the Class Principal Amounts of all the Certificates (after giving effect to the distribution of principal and the application of Realized Losses in reduction of the Certificate Principal Amounts of the Certificates on such Distribution Date) exceeds (ii) the aggregate Scheduled Principal Balance of the Mortgage Loans for such Distribution Date.