Group 1 Net WAC Cap. For any Distribution Date, the Weighted Average Adjusted Net Mortgage Rate of the Mortgage Loans for that Distribution Date, minus the product of (x) the Pass-Through Rate of the Class A-X-1 Certificates for the Interest Accrual Period for that Distribution Date and (y) a fraction, the numerator of which is the Notional Amount of the Class A-X-1 IO-1 Component immediately prior to that Distribution Date, and the denominator of which is the Class Certificate Balance of the Class 1-A-1 Certificates immediately prior to that Distribution Date, such result multiplied by a fraction, the numerator of which is 30 and the denominator of which is the number of days in the related Interest Accrual Period.
Group 1 Net WAC Cap. For any Distribution Date and the Class 1-A-1A and Class 1-A-1B Certificates, the excess, if any, of (a) the product of (i) the Group 1 Net WAC and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period for such Certificates over (b) only in the case of the Class 1-A-1B Certificates, the Allocable Premium Rate for such Class of Certificates.
Group 1 Net WAC Cap. With respect to any Distribution Date, and the Group 1 Certificates, a rate per annum equal to the product of (i) the excess, if any, of (a) the weighted average of the Net Coupon Rates on the Group 1 Home Equity Loans as of the beginning of the related Remittance Period over (b) the Swap Expense Fee Rate and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related interest period.
Examples of Group 1 Net WAC Cap in a sentence
For any Interest Accrual Period and (x) for the Class A-[*] Certificates, their Certificate Rate, calculated without regard to the Group 1 Net WAC Cap, and (y) for each Subclass of the Class AV and Class [M] Certificates, the applicable Certificate Rate, calculated without regard to the Group 2 Net WAC Cap.
More Definitions of Group 1 Net WAC Cap
Group 1 Net WAC Cap. With respect to Group 1 Mortgage Loans as of any Distribution Date, a per annum rate equal to the product of (i) 12 times the quotient of (x) the total scheduled interest on the Group 1 Mortgage Loans for the related Interest Accrual Period, net of Expense Fees related to the Group 1 Mortgage Loans for that Distribution Date and (y) the aggregate Stated Principal Balance of the Group 1 Mortgage Loans as of the first day of the related Collection Period, expressed on the basis of an assumed 360-day year and the actual number of days elapsed during the related Interest Accrual Period.
Group 1 Net WAC Cap. For each Class of Group 1 Certificates as of any Distribution Date, the product of:
Group 1 Net WAC Cap. For any Distribution Date and the Class A-1A and Class A-1B Certificates, the product of (i) the excess of (a) the weighted average of the Net Loan Rates of the Group 1 Mortgage Loans as of the first day of the month prior to the month of that Distribution Date (or, in the case of the first Distribution Date, as of the Cut-Off Date) after giving effect to payments due on that date, weighted on the basis of their related Stated Principal Balances as of the first day of the related Due Period over (b) the product of (I) the Pass-Through Rate for the Class X-1 Certificates and (II) a fraction, the numerator of which is the X-1 IO-1 Component Notional Amount for that Distribution Date and denominator of which is the aggregate Certificate Principal Balances of the Class A-1A and Class A-1B Certificates immediately prior to that Distribution Date and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related interest Accrual Period for such Certificates.
Group 1 Net WAC Cap. For any Distribution Date, the Weighted Average Adjusted Net Mortgage Rate of the Group 1 Mortgage Loans for that Distribution Date, minus the product of (x) the Pass-Through Rate of the Class A-X-1 Certificates for the Interest Accrual Period for that Distribution Date and (y) a fraction, the numerator of which is the Notional Amount of the Class A-X-1 IO-1 Component immediately prior to that Distribution Date, and the denominator of which is the aggregate Class Certificate Balance of the Class 1-A-1A and Class 1-A-1B Certificates immediately prior to that Distribution Date, such result multiplied by a fraction, the numerator of which is 30 and the denominator of which is the number of days in the related Interest Accrual Period.
Group 1 Net WAC Cap. For any Distribution Date, the Weighted Average Adjusted Net Mortgage Rate of the Group 1 Mortgage Loans for that Distribution Date, and, in the case of the Senior LIBOR Certificates, such result multiplied by a fraction, the numerator of which is 30 and the denominator of which is the number of days in the related Interest Accrual Period.
Group 1 Net WAC Cap. For any Distribution Date and the Class 1-A1A, Class 1-A1B and Class A-R Certificates, the weighted average of the Net Loan Rates of the Group 1 Mortgage Loans as of the first day of the month prior to the month of that Distribution Date (or, in the case of the first Distribution Date, as of the Cut-Off Date) after giving effect to payments due on that date, weighted on the bases of their related Stated Principal Balances as of the first day of the related Due Period.
Group 1 Net WAC Cap. For each Class of Certificates in Loan Group 1 as of any Distribution Date the weighted average of the Adjusted Net Mortgage Rates on the Mortgage Loans in Loan Group 1 minus, for the first 24 Distribution Dates only, the product of