Group 2 Net WAC Cap definition

Group 2 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-2 Component immediately prior to that Distribution Date, and the denominator of which is the aggregate Class Certificate Balance of the Class 2-A-1A, Class 2-A-1B and Class 2-A-2 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.
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Group 2 Net WAC Cap. For any Distribution Date and the Class 2-A1A and Class 2-A1B Certificates, the product of (i) the Group 2 Net WAC multiplied by (ii) the quotient of 30 divided by the actual number of days in the Accrual Period. For any Distribution Date and the Class 2-A1C Certificates, (a) the product of (i) the Group 2 Net WAC multiplied by (ii) the quotient of 30 divided by the actual number of days in the Accrual Period less (b) the related Premium Rate for such Distribution Date.
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Group 2 Net WAC Cap. With respect to any Distribution Date, and for any Class of Group 2 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 2 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.
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Examples of Group 2 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 2 Net WAC Cap

Group 2 Net WAC Cap. For each Class of Group 2 Certificates as of any Distribution Date, the product of:
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Group 2 Net WAC Cap. With respect to Group 2 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 2 Mortgage Loans for the related Interest Accrual Period, net of Expense Fees related to the Group 2 Mortgage Loans for that Distribution Date and (y) the aggregate Stated Principal Balance of the Group 2 Mortgage Loans as of the first day of the related Collection Period, expressed on the basis of an assumed 360-day year consisting of twelve 30-day months.
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Group 2 Net WAC Cap. For any Distribution Date , the Weighted Average Adjusted Net Mortgage Rate of the Group 2 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-2 Component immediately prior to that Distribution Date, and the denominator of which is the Class Certificate Balance of the Class 2-A-1 Certificates immediately prior to that Distribution Date, such result multiplied by 30/40 with respect to the initial Interest Accrual Period.
Sample 1
Group 2 Net WAC Cap. For any Distribution Date , the Weighted Average Adjusted Net Mortgage Rate of the Group 2 Mortgage Loans for that Distribution Date, and, in the case of the Group 2 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.
Sample 1
Group 2 Net WAC Cap. For any Distribution Date and the Class 2-A1, Class 2-A2A and Class 2-A2B Certificates, the product of (i) the weighted average of the Net Loan Rates of the Group 2 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 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.
Sample 1
Group 2 Net WAC Cap. With respect to any Interest Accrued Period and Distribution Date, a rate per annum equal to (A) the product of (i) the weighted average of the Expense Adjusted Mortgage Rates on the Home Equity Loans in Loan Group 2 as of the beginning of the related Due Period and (ii) the Stated Principal Balance of the Home Equity Loans in Loan Group 2 as of the beginning of the related Due Period minus the Notional Amount of the Class B-IOV Certificates as of such date plus (B) the product of (i) the weighted average of the Expense Adjusted Mortgage Rates on the Home Equity Loans in Loan Group 2 as of the beginning of the related Due Period minus the Pass-Through Rate of the Class B-IOV Certificates and (ii) the Notional Amount of the Class B-IOF Certificates as of the beginning of the related Due Period, divided by (C) the Stated Principal Balance of the Home Equity Loans in Loan Group 2 as of the beginning of the related Due Period.
Sample 1
Group 2 Net WAC Cap. For each Class of Certificates in Loan Group 2 as of any Distribution Date the product of the following (but in no event less than zero):
Sample 1