Group 2 Cap definition

Group 2 Cap. As of any Distribution Date and the Class A-2 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 2 Mortgage Loans.
Group 2 Cap. As of any Distribution Date and the Class A-2A, Class A-2B and Class A-2C 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 2 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 LT2GRP, weighted on the basis of the Uncertificated Balance of such REMIC 1 Regular Interest.
Group 2 Cap. For any Distribution Date and for the Class A-2 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 2 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.

Examples of Group 2 Cap in a sentence

  • The Certificate Interest Rate for the Class A-2 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-2 Certificate Margin, (ii) the Group 2 Maximum Rate Cap and (iii) the Group 2 Cap.

  • The Trustee shall have no duty or responsibility to enter into any other interest rate cap agreement upon the expiration or termination of the Group 2 Cap Agreement.

  • The Certificate Interest Rate for the Class A-2A 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-2A Certificate Margin, (ii) the Group 2 Maximum Rate Cap and (iii) the Group 2 Cap.

  • Upon the designation of an “Early Termination Date” as defined in the Group 2 Cap Agreement, the payment required to be made by the Group 2 Cap Counterparty to the Trust Fund pursuant to the terms of the Group 2 Cap Agreement, and any unpaid amounts due from prior payment dates and accrued interest thereon as provided in the Group 2 Cap Agreement, as calculated by the Group 2 Cap Counterparty and furnished to the Trustee.

  • Funds posted by the Group 1 Cap Counterparty and/or the Group 1 Swap Counterparty (or its credit support provider), the Balance Guaranteed Cap Counterparty (or its credit support provider) or the Group 2 Cap Counterparty (or its credit support provider) in the applicable Collateral Account shall be invested in Eligible Investments at the written direction of the Group 1 Cap Counterparty, the Group 1 Swap Counterparty, the Balance Guaranteed Cap Counterparty or the Group 2 Cap Counterparty, as applicable.

  • The Certificate Interest Rate for the Class A-2C 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-2C Certificate Margin, (ii) the Group 2 Maximum Rate Cap and (iii) the Group 2 Cap.

  • The Trustee shall deposit in the Group 2 Net WAC Shortfall Reserve Fund all payments received from the Group 2 Supplemental Interest Trust that are payable to the Trust Fund under Section 4.01(o)(iii) from amounts under the Group 2 Interest Rate Swap Agreement and Group 2 Cap Contract, and on each Distribution Date, the Trustee shall remit such amounts received from the Group 2 Supplemental Interest Trust to the Holders of the Class 2-A Certificates in the manner provided in that Section.

  • The Trustee shall not be responsible for the legality or validity of this Agreement, any Servicing Agreement, any Custodial Agreement, the Group 1 Cap Agreement, the Group 1 Swap Agreement, the Balance Guaranteed Cap Agreement or the Group 2 Cap Agreement or the validity, priority, perfection or sufficiency of the security for the Certificates, the Pooling REMIC I Regular Interests or the Pooling REMIC II Regular Interests issued or intended to be issued hereunder.

  • The Certificate Interest Rate for the Class A-2D 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-2D Certificate Margin, (ii) the Group 2 Maximum Rate Cap and (iii) the Group 2 Cap.

  • For all purposes of this Agreement, in the absence of actual knowledge by a Responsible Officer of the Trustee, the Trustee shall not be deemed to have knowledge of any failure of the Master Servicer or any other Event of Default unless notified in writing by the Depositor, the Master Servicer, the Certificate Insurer, the Group 1 Swap Counterparty, the Group 1 Cap Counterparty, the Balance Guaranteed Cap Counterparty, the Group 2 Cap Counterparty or the Certificateholders.


More Definitions of Group 2 Cap

Group 2 Cap. As of any Distribution Date and the Class A-2 and Class A-3 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 2 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 LT2GRP, weighted on the basis of the Uncertificated Balance of such REMIC 1 Regular Interest.
Group 2 Cap. For any Distribution Date and for the Class A-2 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 2 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 Pool Balance as of the first day of the related Collection Period.
Group 2 Cap. With respect to each Distribution Date and the Group 2 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 2 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 2 Mortgage Loans, (y) the Group 2 Allocation Percentage of any Net Swap Payment owed to the Swap Provider and (z) the Group 2 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 2 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 2 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-2 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 LT2GRP, weighted on the basis of the Uncertificated Balance of such REMIC 3 Regular Interest immediately prior to such Distribution Date.
Group 2 Cap. As of any Distribution Date and for the Class A-2 Certificates, a per annum rate equal to (i) the Weighted Average Net Mortgage Interest Rate for the Group 2 Mortgage Loans less (ii) 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.

Related to Group 2 Cap

  • 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 2 Senior Certificates As specified in the Preliminary Statement.

  • 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 Balance As to each Loan Group, the aggregate of the Stated Principal Balances of the Mortgage Loans in such Loan Group that were Outstanding Mortgage Loans at the time of determination.

  • 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.

  • Group 2 Certificates As specified in the Preliminary Statement.

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

  • Group 2 All of the Group 2 Certificates.

  • Group II Allocation Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is (i) the Group II Principal Remittance Amount for such Distribution Date, and the denominator of which is (ii) the Principal Remittance Amount for such Distribution Date.

  • 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.

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

  • Loan Group 5 The Group 5 Mortgage Loans.

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

  • Senior Accelerated Distribution Percentage With respect to any Distribution Date occurring on or prior to the 60th Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, any Loan Group, 100%. With respect to any Distribution Date thereafter and any such Loan Group, if applicable, as follows:

  • Group 1 Certificates As specified in the Preliminary Statement.

  • 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.

  • 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 I Allocation Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is (i) the Group I Principal Remittance Amount for such Distribution Date, and the denominator of which is (ii) the Principal Remittance Amount for such Distribution Date.

  • Class B-6 Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Percentage by (ii) a fraction, the numerator of which is the Class B-6 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-6 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-6 Percentage for such Distribution Date will be zero.

  • Loan Group 3 The Group 3 Mortgage Loans.

  • Distribution Amount means the principal amount of $42,500,000 for each of the COP Swap Counterparties, plus interest, on and after October 15, 2014, on the unpaid Net Amount at the rate applicable to obligations under the Postpetition Financing Agreement, payable in cash in the manner set forth in the COP Swap Settlement Agreement.

  • 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.

  • Group I Senior Percentage As of each Distribution Date, the lesser of 100% and a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of the Group I Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) in Loan Group I immediately prior to such Distribution Date.

  • Basis Risk Shortfall Carry Forward Amount With respect to any Distribution Date and any Class of Class A Certificates and Class M Certificates, an amount equal to the sum of (A) the excess, if any, of (a) the amount of Current Interest that such Class would have been entitled to receive on such Distribution Date had the Pass-Though Rate applicable to such Class been calculated at a per annum rate equal to One-Month LIBOR plus the related Certificate Margin, over (b) the amount of Current Interest that such Class received on such Distribution Date if the Pass-Through Rate is limited to the related Net Rate Cap and (B) the amount in clause (A) for all previous Distribution Dates not previously paid, together with interest thereon at a rate equal to the related Pass-Through Rate for such Distribution Date. Bankruptcy Code: Title 11 of the United States Code.