Group I Available Funds Cap. With respect to the Group I Mortgage Loans as of any Distribution Date, the per annum rate (subject to adjustment based on the actual number of days elapsed in the related Interest Accrual Period) equal to (x) the weighted average of the Expense Adjusted Mortgage Rate for each Group I Mortgage Loan then in effect at the beginning of the related Due Period (not including for this purpose any Group I Mortgage Loans for which Principal Prepayments in Full have been received and distributed in the month prior to that Distribution Date) minus (y) a percentage equal to the product of (i) a fraction, the numerator of which is equal to the portion of the Net Derivative Payment or Swap Termination Payment (other than a Swap Termination Payment resulting from a Derivative Counterparty Trigger Event) made to the Swap Counterparty with respect to such Due Period allocated to the Group I Mortgage Loans based on the applicable Group Percentage, and the denominator of which is equal to the aggregate Stated Principal Balance of the Group I Mortgage Loans as of the beginning of the related Due Period and (ii) 12.
Group I Available Funds Cap. For each Distribution Date, the percentage equivalent of a fraction equal to (a) an amount equal to (i) the aggregate Interest Remittance Formula Amount for the Group I Mortgage Loans, less (ii) the Administrative Fees allocable to the Group I Mortgage Loans, and less (iii) the Group I Class I Monthly Interest Distributable Amount, divided by (b) the product of (i) the actual number of days in the related Accrual Period divided by 360 and (ii) the aggregate principal balance of the Group I Mortgage Loans plus any related amounts on deposit in the Pre-Funding Account.
Group I Available Funds Cap. The weighted average of the Coupon Rates on the Mortgage Loans in Group I less the sum of the rates at which (i) the Group I Servicing Fee, (ii) the Group I Trustee Fee and (iii) the Group I Premium Amount are calculated.
Examples of Group I Available Funds Cap in a sentence
Remaining excess interest to pay Carryover resulting from imposition of the Group I Available Funds Cap and then from the imposition of the Subordinate Rate Cap.
RATE CAP For the Class AV-1 Certificates, the Group I Available Funds Cap.
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PASS-THROUGH RATES - The Class AF-1 Pass-Through Rate will be a per annum rate equal to the least of (x) for any Distribution Date which occurs on or prior to the first possible Optional Termination Date, One-Month LIBOR plus [ ]% (the "Class AF-1 Margin"), and beginning on the first Distribution Date after the first possible Optional Termination Date, One-Month LIBOR plus 2 times the Class AF-1 Margin, (y) the Group I Available Funds Cap and (z) the Group I Maximum Rate Cap.
More Definitions of Group I Available Funds Cap
Group I Available Funds Cap. With respect to any Payment Date, the weighted average Coupon Rate of the Home Equity Loans in Loan Group I as of the opening of business on the first day of the related Remittance Period, less the sum of (i) the annualized percentage equivalent of a fraction equal to (a) the sum of the related Premium Amount plus the sum of the related Trustee Fee, the related Servicing Fee, the related Master Servicing Fee (so long as the Master Servicer is engaged under this Agreement), divided by (b) the aggregate Pool Balance of Loan Group I as of the opening of business on the first day of the related Remittance Period, and (ii) during the period commencing on the first Payment Date and ending on the 30th Payment Date, the annualized percentage equivalent of the product of (a) the Class A-9IO Pass-Through Rate and (b) the Class A-9IO Notional Principal Amount divided by the outstanding aggregate Pool Balance of Loan Group I as of the opening of business on the first day of the related Remittance Period.
Group I Available Funds Cap. With respect to any Distribution Date, a per annum rate (subject to adjustment based on the actual number of days elapsed in the related Interest Accrual Period) equal to 12 times the quotient of (x) the total scheduled interest on the Group I Mortgage Loans for the related Interest Accrual Period at the Net Mortgage Interest Rates and (y) the aggregate Principal Balance of the Group I Mortgage Loans (as of the first day of the related Collection Period).
Group I Available Funds Cap. As of any "Group II Available Funds Cap": As of any Distribution Date, the weighted average of the Net Rates Distribution Date, the weighted average of the Net on the Mortgage Loans in Group I (weighted on the basis of Rates on the Mortgage Loans in Group II (weighted on the principal balances thereof as of the first day of the the basis of the principal balances thereof as of the month preceding the month of such Distribution Date). first day of the month preceding the month of such Distribution Date).
Group I Available Funds Cap. As of any Distribution Date, for the Class AF-1 Certificates, a per annum rate equal to the product of (A) 12 times the quotient obtained by dividing (x) the excess of (a) the total scheduled interest on the Group I Included Mortgage Loans for the related Due Period over (b) the sum of the Group I Administration Fee and the Group I Certificate Insurer Premium for such Distribution Date by (y) the aggregate Stated Principal Balance of the Group I Included Mortgage Loans as of the first day of the related Accrual Period (or, in the case of the first Distribution Date, as of the Cut-off Date) and (B) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period.
Group I Available Funds Cap. As of any Payment Date, the weighted average Coupon Rate of the Home Equity Loans in Loan Group I as of the opening of business on the first day of the related Remittance Period, less the sum of (i) (a) the sum of the Group I Premium Amount plus the Group I Trustee Fee plus the Group I Servicing Fee divided by (b) the aggregate outstanding Loan Balance of the Home Equity Loans in Loan Group I as of the opening of business on the first day of the related Remittance Period, (ii) after the 6th Payment Date, 0.50% per annum, (iii) an amount, expressed as an annual percentage rate of the outstanding aggregate Loan Balance of Home Equity Loans in Loan Group I as of the opening of business on the first day of the related Remittance Period, equal to the Auction Agent Fee for the Class A-8 Certificates and (iv), for the 1st through 30th Payment Dates, the product of (a) 6.50% per annum and (b) the Class A-10 IO Notional Principal Amount divided by the outstanding aggregate Loan Balance of the Home Equity Loans in Loan Group I as of the opening of business on the first day of the related Remittance Period.
Group I Available Funds Cap. As of any Distribution Date, the weighted average of the Net Rates on the Mortgage Loans in Group I (weighted on the basis of the principal balances thereof as of the first day of the month preceding the month of such Distribution Date).
Group I Available Funds Cap. Rate" insofar as it applies to Component I of the "Class A-1 Certificates only will be for each Payment Date commencing on __________.