Group 2 Adjusted Cap Rate. With respect to any Distribution Date and the Group 2 Certificates, the Net WAC Cap for such Distribution Date, determined by first reducing the Net WAC by a per annum rate equal to the product of (i) the Net Deferred Interest for Loan Group 2 for that Distribution Date multiplied by (ii) 12, divided by the Loan Group Collateral Balance for Loan Group 2 as of the first day of the month before such Distribution Date (or in the case of the first Distribution Date, as of the Initial Cut-off Date).
Group 2 Adjusted Cap Rate. With respect to the Class 2-A1, Class 2-A2, Class 2-A3, Class 2-A4A and Class 2-A4B Certificates and any Distribution Date, the Class 2-A1 and 2-A2 Net WAC Cap or Class 2-A3 or 2-A4 Net WAC Cap, as applicable, for that Distribution Date, computed for this purpose by first reducing the weighted average of the Net Loan Rates of the Group 2 Mortgage Loans by a per annum rate equal to (i) the product of (a) the Net Deferred Interest, if any, on the Group 2 Mortgage Loans for that Distribution Date and (b) 12, divided by (ii) the aggregate Stated Principal Balance of the Group 1 Mortgage Loans as of the first day of the month before such Distribution Date (or, in the case of the first Distribution Date, as of the Cut-Off Date).
Group 2 Adjusted Cap Rate. For any Distribution Date and the Class 2-A1A, Class 2-A1B and Class 2-A1C Certificates, the Group 2 Net WAC Cap for that Distribution Date, computed for this purpose by first reducing the Group 2 Net WAC by a per annum rate equal to the quotient of (i) the product of (a) the Net Deferred Interest, if any, on the Group 2 Mortgage Loans for the Distribution Date multiplied by (b) 12, divided by (ii) the aggregate Pool Collateral Balance for Loan Group 2 as of the first day of the related Due Period (or in the case of the first Distribution Date, as of the Cut-off Date).
More Definitions of Group 2 Adjusted Cap Rate
Group 2 Adjusted Cap Rate. For the Class 2-A-1, Class 2-A-2A and Class 2-A-2B Certificates for any Distribution Date, the Weighted Average Adjusted Net Mortgage Rate of the Group 2 Mortgage Loans for that Distribution Date, minus (A) (1) the product of (a) the Net Deferred Interest for Group 2 Mortgage Loans for such Distribution Date, and (b) 12, divided by (2) the aggregate Stated Principal Balance of the Group 2 Mortgage Loans as of the Due Date in the prior month (after giving effect to Principal Prepayments in the Prepayment Period related to such prior Due Date), and minus (B) the product of (1) the Pass-Through Rate of the Class A-X-1 Certificates for the Interest Accrual Period for that Distribution Date and (2) a fraction, the numerator of which is the Notional Amount of the Class A-X-1 IO-2 Component immediately prior to that Distribution Date, and the denominator of which is the aggregate Class Certificate Balance of the Class 2-A-1, Class 2-A-2A and Class 2-A-2B Certificates immediately prior to that Distribution Date, in each case, adjusted for the related Interest Accrual Period
Group 2 Adjusted Cap Rate. With respect to the Class 2-A Certificates and any Distribution Date, the Class 2-A Net WAC Cap for that Distribution Date, computed for this purpose by first reducing the weighted average of the Net Loan Rates of the Group 2 Mortgage Loans by a per annum rate equal to (i) the product of (a) the Net Deferred Interest, if any, on the Group 2 Mortgage Loans for that Distribution Date and (b) 12, divided by (ii) the aggregate Stated Principal Balance of the Group 1 Mortgage Loans as of the first day of the month before such Distribution Date (or, in the case of the first Distribution Date, as of the Cut-Off Date).
Group 2 Adjusted Cap Rate. For any Distribution Date and the Class 2-A1A1, Class 2-A1A2, Class 2-A1B or Class 2-A1C Certificates, the Group 2 Net WAC Cap for that Distribution Date; provided, that the Net WAC referred to in clause (a)(i) thereof shall be reduced by a per annum rate equal to (i) the quotient of (a) the product of the Net Deferred Interest, if any, on the Group 2 Mortgage Loans for the Distribution Date multiplied by (b) 12, and (ii) the aggregate Stated Principal Balance of the Group 2 Mortgage Loans as of the first day of the month before such Distribution Date (or in the case of the first Distribution Date, as of the Cut-Off Date).
Group 2 Adjusted Cap Rate. With respect to the Class 2A-1, Class 2A-2 and Class 2A-3 Certificates and any Distribution Date, shall equal the Net WAC of the Group 2 Mortgage Loans for that Distribution Date, computed for this purpose by first reducing the Net Loan Rate on each Group 2 Mortgage Loan by a per annum rate equal to the product of (i) 12, multiplied by (ii) a fraction, the numerator of which is (a) the Deferred Interest, if any, on such Mortgage Loan for the month preceding such Distribution Date, and the denominator of which is (b) the Stated Principal Balance of such Mortgage Loan as of the first day of the month before such Distribution Date (or, in the case of the first Distribution Date, as of the Cut-Off Date).
Group 2 Adjusted Cap Rate. For any Distribution Date and the Class 2-A1A, Class 2-A1B and Class 2-A1C Certificates and the Group 2 Subordinate Certificates, an amount equal to the product of (i) the Group 2 Net Adjusted WAC Cap for that Distribution Date, multiplied by the quotient of 30 divided by the actual number of days in the Accrual Period.
Group 2 Adjusted Cap Rate. For the Group 2 Senior Floating Rate Certificates, the Weighted Average Adjusted Net Mortgage Rate of the Group 2 Mortgage Loans for that Distribution Date, minus a fraction, the numerator of which is the product of (a) the Net Deferred Interest for the Group 2 Mortgage Loans for such Distribution Date, and (b) 12, and the denominator of which is (2) the aggregate Stated Principal Balance of the Group 2 Mortgage Loans as of the Due Date in the prior month (after giving effect to Principal Prepayments in the Prepayment Period related to such prior Due Date).
Group 2 Adjusted Cap Rate. For the Group 2 Senior LIBOR Certificates for any Distribution Date, the Weighted Average Adjusted Net Mortgage Rate of the Group 2 Mortgage Loans for that Distribution Date, minus a fraction, the numerator of which is the product of (a) the Net Deferred Interest for the Group 2 Mortgage Loans for such Distribution Date, and (b) 12, and the denominator of which is (2) the aggregate Stated Principal Balance of the Group 2 Mortgage Loans as of the Due Date in the prior month (after giving effect to Principal Prepayments in the Prepayment Period related to such prior Due Date).