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.

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.

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: