Group I Cap definition

Group I Cap. As of any Distribution Date and the Class AI Certificates, a per annum rate (adjusted by multiplying such rate by a fraction equal to 30 over the actual number of days in the related Interest Accrual Period) equal to the Weighted Average Net Mortgage Interest Rate for the Group I Mortgage Loans.
View Source
Group I Cap. With respect to any Distribution Date, a per annum rate (adjusted by multiplying such rate by a fraction equal to 30 over the actual number of days in the related Interest Accrual Period) equal to the Weighted Average Net Mortgage Rate for the Group I Mortgage Loans for such Distribution Date as of the first day of the related Collection Period.
View Source
Group I Cap. With respect to any Distribution Date, a per annum rate 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 their Net Mortgage Interest Rates, net of the interest on the Component A-IO-1 and (y) the aggregate principal balance of the Group I Mortgage Loans.
View Source

Examples of Group I Cap in a sentence

  • In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Securities Administrator under the Group I Cap Contract and deposited into the Reserve Fund for the benefit of the Class A-1 Certificates and the Mezzanine Certificates and under the Group II Cap Contract and deposited in the Reserve Fund for the benefit of the Class A-2 Certificates and the Mezzanine Certificates.

  • The Trustee shall not designate a Group I Early Termination Date under the Group I Cap Agreement without the consent of the Group I Cap Controlling Person.

  • In addition, the amount deposited in the Reserve Fund shall be increased by any payments received by the Securities Administrator under the Group I Cap Contract and deposited into Reserve Fund for the benefit of the Class A-1 Certificates, Mezzanine Certificates and the Class B Certificates and under the Group II Cap Contract and deposited in the Reserve Fund for the benefit of the Class A-2 Certificates, the Mezzanine Certificates and the Class B Certificates.

  • The Group I Cap Collateral Account shall be held in the name of the Cap Custodian in trust for the benefit of the Class A-1 Certificates and Mezzanine Certificates.

  • If no investment direction is received by the Supplemental Interest Trust Trustee from Holders of the Class I-C Certificates, funds in the Group I Cap 2 Account shall remain uninvested.

  • Group I Cap 1 Account; Group I Cap 2 Account; Group I Swap Account; Class I-P Reserve Fund; Carryover Reserve Fund.

  • Any losses incurred in the Group I Cap 1 Account in respect of any such investments shall be charged against amounts on deposit in the Group I Cap 1 Account (or the amount of such investments) immediately as realized.

  • All funds on deposit in the Group I Cap 1 Account shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Trust Administrator pursuant to this Agreement.

  • The Group I Cap 2 Account will not constitute an asset of the Trust Fund or any REMIC created hereunder.

  • The Supplemental Interest Trust Trustee shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Group I Cap 1 Account and made in accordance with this Section 3.07.


More Definitions of Group I Cap

Group I Cap. As of any Distribution Date and the Class AI Certificates, a per annum rate equal to the Weighted Average Net Mortgage Rate for the Group I Mortgage Loans. For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of the Uncertificated REMIC 1 Pass-Through Rate on REMIC 1 Regular Interest LT1GRP, weighted on the basis of the Uncertificated Principal Balance of such REMIC 1 Regular Interest.
View Source
Group I Cap. With respect to the Class AI Certificates and (i) any Distribution Date on or prior to the date on which the aggregate Principal Balance of the Class AI or Class AII Certificates has been reduced to zero, a per annum rate (adjusted by multiplying such rate by a fraction equal to 30 over the actual number of days in the related Interest Accrual Period) equal to the Weighted Average Net Mortgage Interest Rate for the Group I Mortgage Loans and (ii) any Distribution Date after the date on which the aggregate Principal Balance of the Class AI or Class AII Certificates has been reduced to zero, a per annum rate (adjusted by multiplying such rate by a fraction equal to 30 over the actual number of days in the related Interest Accrual Period) equal to the Weighted Average Net Mortgage Interest Rate for all the Mortgage Loans.
View Source
Group I Cap. With respect to any Distribution Date, a per annum rate (subject to adjustment in the case of the Class AF-1 Certificates based on the actual number of days elapsed in the related Interest Accrual Period) equal to (i) the average of the Net Mortgage Interest Rates for the Group I Mortgage Loans (weighted on the basis of the sum of the Principal Balances of the Group I Mortgage Loans as of the first day of the related Collection Period) less (ii) the Class I-A-IO Component Pass-Through Rate for such Distribution Date. The Group I Cap is equivalent to the Loan Group I Adjusted Weighted Average Net Mortgage Rate.
View Source

Related to Group I Cap

  • 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.

  • 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.

  • Group I Principal Distribution Amount With respect to any Distribution Date, the sum of (i) the Group I 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 I Allocation Percentage.

  • 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.