Group 2 WAC Cap definition

Group 2 WAC Cap. With respect to the Mortgage Loans in Loan Group 2 as of any Distribution Date, the product of (1) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Remittance Period on the Mortgage Loans in Loan Group 2 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 for the Group 2 Certificates related to such Distribution Date.
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Group 2 WAC Cap. With respect to the Group 2 Senior Certificates and any Distribution Date, a per annum rate equal to the product of (i) the excess, if any, of (a) the weighted average of the Net Mortgage Rates of the Group 2 Mortgage Loans weighted based on their relative Stated Principal Balances as of the first day of the related Due Period, adjusted to reflect prepayments received after the first Day of the related Due Period that were distributed on the immediately preceding Distribution Date, over (b) the Swap Payment Rate for such Distribution Date, multiplied by (ii) the quotient of 30 divided by the actual number of days in the Interest Accrual Period.
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Group 2 WAC Cap. For the Mortgage Loans in Loan Group 2 as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect at the beginning of the related Remittance Period on the Mortgage Loans in Loan Group 2 minus for the first 35 distribution dates only, the product of (1) 7.00 % and (2) the Group 2 IO Component notional balance divided by the Group 2 aggregate Stated Principal Balances as of the opening of business on the first day of the related Remittance Period, and (ii) a fraction whose numerator is 30 and whose denominator is the actual number of days in the Interest Accrual Period for the Group 2 Certificates related to the Distribution Date.
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Examples of Group 2 WAC Cap in a sentence

  • Beginning with the Interest Accrual period related to the Distribution Date immediately following the first related Initial Optional Termination Date, the Pass-Through Rate for the Class A-2d Certificates will be a per annum rate equal to the least of (i) one-month LIBOR + 0.6000%, (ii) the Aggregate Net WAC Cap and (iii) the Group 2 WAC Cap.

  • Class A-2d Pass-Through Rate: The Pass-Through Rate for the Class A-2d Certificates for the Interest Accrual Period related to any Distribution Date on or prior to the first related Initial Optional Termination Date will be a per annum rate equal to the least of (i) one-month LIBOR + 0.2400%, (ii) the Aggregate Net WAC Cap and (iii) the Group 2 WAC Cap.

  • Beginning with the Interest Accrual period related to the Distribution Date immediately following the first related Initial Optional Termination Date, the Pass-Through Rate for the Class A-2b Certificates will be a per annum rate equal to the least of (i) one-month LIBOR + 0.2200%, (ii) the Aggregate Net WAC Cap and (iii) the Group 2 WAC Cap.

  • Class A-2a Pass-Through Rate: The Pass-Through Rate for the Class A-2a Certificates for the Interest Accrual Period related to any Distribution Date on or prior to the first related Initial Optional Termination Date will be a per annum rate equal to the least of (i) one-month LIBOR + 0.0800%, (ii) the Aggregate Net WAC Cap and (iii) the Group 2 WAC Cap.

  • Beginning with the Interest Accrual period related to the Distribution Date immediately following the first related Initial Optional Termination Date, the Pass-Through Rate for the Class A-2a Certificates will be a per annum rate equal to the least of (i) one-month LIBOR + 0.2000%, (ii) the Aggregate Net WAC Cap and (iii) the Group 2 WAC Cap.

  • Beginning with the Interest Accrual period related to the Distribution Date immediately following the first related Initial Optional Termination Date, the Pass-Through Rate for the Class A-2c Certificates will be a per annum rate equal to the least of (i) one-month LIBOR + 0.4800%, (ii) the Aggregate Net WAC Cap and (iii) the Group 2 WAC Cap.

  • Class A-2c Pass-Through Rate: The Pass-Through Rate for the Class A-2c Certificates for the Interest Accrual Period related to any Distribution Date on or prior to the first related Initial Optional Termination Date will be a per annum rate equal to the least of (i) one-month LIBOR + 0.2400%, (ii) the Aggregate Net WAC Cap and (iii) the Group 2 WAC Cap.

  • The Aggregate Net WAC Cap, the Group 1 WAC Cap or the Group 2 WAC Cap, as the context requires.

  • Beginning with the Interest Accrual period related to the Distribution Date immediately following the first related Initial Optional Termination Date, the Pass-Through Rate for the Class A-2d Certificates will be a per annum rate equal to the least of (i) one-month LIBOR + 0.4800%, (ii) the Aggregate Net WAC Cap and (iii) the Group 2 WAC Cap.

  • Beginning with the Interest Accrual period related to the Distribution Date immediately following the first related Initial Optional Termination Date, the Pass-Through Rate for the Class A-2b Certificates will be a per annum rate equal to the least of (i) one-month LIBOR + 0.3600%, (ii) the Aggregate Net WAC Cap and (iii) the Group 2 WAC Cap.


More Definitions of Group 2 WAC Cap

Group 2 WAC Cap. For each Class of Certificates in Loan Group 2 as of any Distribution Date is the lesser of:
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Related to Group 2 WAC Cap

  • Net WAC Cap The Group 1 Net WAC Cap, the Group 2 Net WAC Cap or the Subordinate WAC Cap, as applicable.

  • Net WAC Cap Rate With respect to any Distribution Date, the product of (i) a per annum rate equal to the weighted average of the Net Mortgage Rates (or, if applicable, the Modified Net Mortgage Rates) using the Net Mortgage Rates in effect for the Monthly Payments due on such Mortgage Loans during the related Due Period, weighted on the basis of the respective Stated Principal Balances thereof for such Distribution Date and (ii) a fraction equal to 30 divided by the actual number of days in the related Interest Accrual Period.

  • WAC Cap With respect to the 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 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.

  • 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.

  • 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.