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. 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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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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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-2a Certificates will be a per annum rate equal to the least of (i) one-month LIBOR + 0.1600%, (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 + 0.1000%, (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 + 0.1500%, (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.

  • As a result, the operators of these plants could consider using alternate chemicals for dechlorination that will have little or no impact on receiving environment if spilled or overdosed.

  • 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.

  • 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-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-2c Certificates will be a per annum rate equal to the least of (i) one-month LIBOR + 0.3000%, (ii) the Aggregate Net WAC Cap and (iii) the Group 2 WAC Cap.

  • Organizations must retain a copy of the completed Risk Assessment and Mitigation Checklist for their records and may be asked to provide it to OAS.


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:
Sample 1

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.

  • 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 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.

  • Senior Percentage As of any 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 Senior Certificates (other than the Class A-P 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) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date.

  • 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 Senior Certificates As specified in the Preliminary Statement.

  • Loan Group Cap The Loan Group I Cap or the Loan Group II Cap, as applicable.

  • Group 4 All of the Group 4 Certificates.

  • 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.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Loan Group 4 The Group 4 Mortgage Loans.

  • Group 1 Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group 1 Senior Percentage of the Principal Payment Amount for Loan Group 1, (b) the Group 1 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 1 and (c) the Group 1 Senior Liquidation Amount.

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

  • 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 1 Principal Distribution Amount With respect to any Distribution Date is the sum of (i) the Group 1 Basic Principal Distribution Amount for such Distribution Date and (ii) the product of (a) the Overcollateralization Increase Amount for such Distribution Date and (b) the Group 1 Percentage.

  • Group 1 Available Funds As to any Distribution Date, the sum of (a) the aggregate amount held in the Collection Account at the close of business on the related Servicer Remittance Date and, without duplication, on deposit in the Distribution Account at the close of business of the related Distribution Account Deposit Date, attributable to the Group 1 Mortgage Loans net of (i) the Amount Held for Future Distribution related to the Group 1 Mortgage Loans, (ii) amounts related to the Group 1 Mortgage Loans permitted to be withdrawn from the Collection Account pursuant to clauses (i)-(viii) inclusive and clauses (ix)(a)(ii) and (iii), (ix)(b), (x) and (xi) of Section 3.10(a), (iii) after giving effect to all amounts deposited to the Distribution Account from the Collection Account, amounts related to the Group 1 Mortgage Loans permitted to be withdrawn from the Distribution Account pursuant to clauses (i)-(iv) inclusive of Section 3.10(b), and (iv) any Fair Market Value Excess, (b) the amount of the related Advances related to the Group 1 Mortgage Loans and (c) in connection with Defective Mortgage Loans in Loan Group 1, as applicable, the aggregate of the Purchase Prices and Substitution Adjustment Amounts deposited on the related Distribution Account Deposit Date.

  • Group II Principal Distribution Amount With respect to any Distribution Date, the sum of (i) the Group II Basic Principal Distribution Amount for such Distribution Date and (ii)(a) the Extra Principal Distribution Amount for such Distribution Date multiplied by (b) the Group II Allocation Percentage.

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

  • 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.

  • 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 II The pool of Mortgage Loans identified in the related Schedules of Mortgage Loans as having been assigned to Group II, including any Qualified Replacement Mortgages delivered in replacement thereof and each Subsequent Mortgage Loan delivered to the Trust for inclusion therein.

  • Group I The pool of Mortgage Loans identified in the related Schedules of Mortgage Loans as having been assigned to Group I, including any Qualified Replacement Mortgages delivered in replacement thereof and each Subsequent Mortgage Loan delivered to the Trust for inclusion therein.