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.
Group 2 Net WAC Cap. For any Distribution Date and the Class 2-A-1A, Class 2-A-1B and Class 2-A-1C Certificates, the excess, if any, of (a) the product of (i) the Group 2 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 2-A-1C Certificates, the Allocable Premium Rate for such Class of Certificates.
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.
Examples of Group 2 Net WAC Cap in a sentence
The Net WAC Cap for the Subordinate Certificates (the “Subordinate Net WAC Cap”) for any Distribution Date equals the weighted average of the Group 1 Net WAC Cap and the Group 2 Net WAC Cap (computed without regard to the adjustments applicable to the Class 1-A1B and Class 2-A1C Certificates) weighted on the basis of the Group Subordinate Amounts for each loan group.
The Pass-Through Rates for the Class 2A1A, Class 2A1B, Class 2A2A, Class 2A2C, Class 2A3A, and Class 2A3B Certificates will be floating rates equal to the least of (i) the Weighted Average Adjusted Net Mortgage Rate of the Group 2 mortgage loans for that Distribution Date adjusted for the related interest accrual period (the "Group 2 Net WAC Cap"), (ii) One-Month LIBOR plus the applicable margin (which margins after the first possible optional call date double), and (iii) 10.50%.
The originals should be sent to the Mental Health Act administrator (health records) at Wotton Lawn for adults of working age, children and young people and people with learning disabilities or Charlton Lane Centre for people aged over 65.
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. 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.
Group 2 Net WAC Cap. For each Class of Group 2 Certificates as of any Distribution Date, the product of:
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 aggregate Class Certificate Balance of the Class 2-A-1A, Class 2-A-1B, Class 2-A-2A and Class 2-A-2B 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 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 Class 2-A-3B Policy Premium Rate, 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 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.
Group 2 Net WAC Cap. With respect to any Distribution Date and the Class 2A Certificates, a per annum rate equal to (a) the weighted average of the Net Mortgage Rates of the Group 2 Loans, weighted on the basis of the aggregate Stated Principal Balances of the Group 2 Loans as of the beginning of the related Due Period (adjusted for principal prepayments distributed on the immediately preceding Distribution Date) less (b) the annualized percentage equivalent of a fraction, (i) the numerator of which is any net swap payment (including any swap termination payment other than those triggered by a Swap Provider Trigger Event) made to the Swap Provider allocable to the Group 2 Loans and (ii) the denominator of which is the aggregate Stated Principal Balance of the Group 2 Loans (adjusted to an effective rate reflecting the accrual of interest on an actual/360 basis).
Group 2 Net WAC Cap. For any Distribution Date and the Class 2-A1A 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-A1B Certificates, the Group 2 Net WAC. 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 insurance premium rate for such Distribution Date.