Group I Net Rate Cap definition

Group I Net Rate Cap. With respect to any distribution date and Class I-A Certificates, the product of:
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Group I Net Rate Cap. For any Distribution Date, the weighted average of the Net Mortgage Rates of the Mortgage Loans in Loan Group I as of the last day of the related Due Period.
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Group I Net Rate Cap. With respect to any Distribution Date and any Class of Group I Certificates (other than the Class I-C Certificates and Class I-R Certificates), a per annum rate equal to the weighted average of the Net Mortgage Rates on the then outstanding Group I Mortgage Loans, weighted based on their Stated Principal Balances as of the related Due Date prior to giving effect to any reduction in the Stated Principal Balances of such Group I Mortgage Loans on such Due Date. The Group I Net Rate Cap for such Classes of Group I Certificate, will be calculated based on a 360-day year and the actual number of days elapsed in the related Accrual Period. For federal income tax purposes, however, the equivalent of the foregoing, expressed as the weighted average of the Uncertificated REMIC I Pass-Through Rates on the REMIC I Regular Interests, weighted on the basis of the Uncertificated Principal Balances of each such REMIC I Regular Interest (adjusted for the actual number of days elapsed in the related Accrual Period).
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Examples of Group I Net Rate Cap in a sentence

  • Group I Net Rate Cap: With respect to any Interest Accrual Period and the Group I Certificates, a rate per annum equal to the product of (i) the weighted average of the Adjusted Net Mortgage Rates on the Group I Mortgage Loans as of the beginning of the related Due Period multiplied by (ii) a fraction, the numerator of which is 30 and denominator of which is the actual number of days in the related Interest Accrual Period.

  • Yield Maintenance Agreement: On the Closing Date, the Trustee will enter into a “Yield Maintenance Agreement” with [the counterparty] to make payments in respect of any Group I Net Rate Cap Carryover on the Group I Certificates and Class MV Certificates pro rata based on the unpaid Group I Net Rate Carryover of the Group I Certificates and the Class MV Certificates.

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  • Group I Net Rate Cap Carryover: If on any Distribution Date the Certificate Rate any class of the Group I Certificates or Class MV Certificates is based on the Group I Net Rate Cap, the affected class or classes of Group I Certificates and Class MV Certificates will be entitled to receive on that Distribution Date or subsequent Distribution Dates the Group I Net Rate Cap Carryover as described under the caption "DISTRIBUTIONS" below.

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  • Using interactive training techniques such as brainstorming small working groups, case studies and games, the participants were able to share experiences, learn from each other and make decisions on how they are going to improve what they have been doing on the ground.

  • See 9 for more details.ConfidentialitySupervision remains a confidential space unless other issues demand a breach.Monitoring and reviewAttendance at supervision sessions will be monitored through an annual audit and the staff survey results.

  • To the net rate cap fund, the amount required to be deposited therein pursuant to the pooling and servicing agreement, and from the net rate cap fund, to the Group I Certificates, on a pro-rata basis, then sequentially, to the Class MV-1, Class MV-2, Class MV-3 and Class MV-4 Certificates, in that order, the related Group I Net Rate Cap Carryover remaining unpaid after distributions of amount paid under the Yield Maintenance Agreement.

  • The Combined Net Rate Cap will be the lesser of the Group I Net Rate Cap or the Group II Net Rate Cap.


More Definitions of Group I Net Rate Cap

Group I Net Rate Cap. For any Distribution Date, the product of (i) the Group I Net WAC multiplied by (ii) the quotient of 30 divided by the number of days in the Accrual Period.
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Group I Net Rate Cap. For any Class of Group I Certificates and any Distribution Date, the per annum rate equal to the product of (A) (i) the weighted average Net Loan Rate of the Mortgage Loans in Loan Group I, expressed as a per annum rate minus (ii) the Premium Percentage multiplied by a fraction (x) the numerator of which is aggregate Class Principal Balances of the Class AV-2 and Class AV-3 Certificates and (y) the denominator of which is the aggregate of the Principal Balances of all the Mortgage Loans in Loan Group I as of the first day of the related Prepayment Period and (B) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Period.
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Group I Net Rate Cap. With respect to the Group I Offered Certificates and any Distribution Date, the excess of (1) the weighted average Group I Net Mortgage Rates on the related Group I Mortgage Loans as of the last day of the due Period (after giving effect to principal prepayments received in the Prepayment Period related to such Distribution Date) over (2) the sum of (i) a per annum rate equal to the Net Swap Payment with respect to the Swap Agreement payable to the Swap Provider on such Distribution Date, divided by the Stated Principal Balance of the Group I Mortgage Loans as of the last day of the related Due Period, multiplied by 12, and (ii) a per annum rate equal to any Swap Termination Payment with respect to the Swap Agreement (other than a Swap Termination Payment in the event that the Swap Provider is the defaulting party under the Swap Agreement) payable to the Swap Provider on such Distribution Date, divided by the Stated Principal Balance of the Group I Mortgage Loans as of the last day of the related Due Period, multiplied by 12. The Group I Net Rate Cap will be adjusted to an effective rate reflecting the accrual of interest on an actual/360 basis.
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Group I Net Rate Cap. For any Distribution Date (i) through the applicable Accrual Period for a Class relating to the Distribution Date in April 2004, the excess of (a) the weighted average of the Net Mortgage Rates of the Mortgage Loans in Loan Group I as of the last day of the related Due Period over (b) interest payable on the Class I-A-IO Certificates with respect to each such Accrual Period expressed as a per annum rate calculated on the basis of the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period and (ii) thereafter, the weighted average of the Net Mortgage Rates of the Mortgage Loans in Loan Group I. For federal income tax purposes, the equivalent of the foregoing is expressed as the weighted average of (x) the Uncertificated REMIC I Pass-Through Rate with respect to REMIC I Regular Interest LT1A and REMIC I Regular Interest LT1P for such Distribution Date and (y) the excess, if any, of (i) the Uncertificated REMIC I Pass-Through Rate with respect to REMIC I Regular Interest LT1B for such Distribution Date over (ii) (A) in the case of the Distribution Dates beginning in November 2001 and ending in April 2004, the applicable Class I-A-IO Pass-Through Rate, and (B) in the case of any Distribution Date thereafter, 0.00% per annum, weighted, in the case of clause (x), on the basis of the aggregate Uncertificated Principal Balance of REMIC I Regular Interest LT1A and REMIC I Regular Interest LT1P and in the case of clause (y), on the basis of the Uncertificated Principal Balance of REMIC I Regular Interest LT1B, respectively.
Sample 1
Group I Net Rate Cap. For any Class of Group I Certificates and any Distribution Date, the per annum rate equal to the product of (i) the weighted average Net Loan Rate of the Mortgage Loans in Loan Group I, expressed as a per annum rate and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Period, adjusted to take into account any Principal Prepayments in full that are received and distributed in the preceding calendar month.
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Related to Group I Net Rate Cap

  • Net Rate Cap For any Distribution Date and (i) each of the Class I-A and the Class II-A Certificates, the weighted average of the Net Rates of the Mortgage Loans in the related Loan Group as of the beginning of the related Due Period, weighted on the basis of the Stated Principal Balances thereof as of the preceding Distribution Date, as adjusted to an effective rate reflecting the accrual of interest on the basis of a 360-day year and the actual number of days elapsed in the related Interest Accrual Period and (ii) each of the Class M Certificates and the Class B Certificates, the weighted average of the Net Rates on the Mortgage Loans in each Loan Group, weighted in proportion to the results of subtracting from the aggregate Stated Principal Balance of each Loan Group, the Certificate Principal Balance of the related classes of Senior Certificates, as adjusted to an effective rate reflecting the accrual of interest on the basis of a 360-day year and the actual number of days elapsed in the related Interest Accrual Period. For federal income tax purposes, the Net Rate Cap (a) with respect to the Class I-A Certificates, is equal to the Uncertificated REMIC II Pass-Through Rate for the REMIC II Regular Interests LT1, LT2 and LT-Y1, (b) with respect to the Class II-A Certificates, is equal to the Uncertificated Pass-Through Rate for the REMIC II Regular Interests LT5, LT6 and LT-Y2 and (c) with respect to the Class M Certificates and Class B Certificates is the weighted average of the Uncertificated REMIC II Pass-Through Rates on the LT-Y1 and LT-Y2 REMIC II Regular Interests, weighted on the basis of their respective Uncertificated Principal Balances.

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Group I Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group I Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group I Allocation Percentage.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Group III Senior Principal Distribution Amount As to any Distribution Date, the sum of (i) the Group III Senior Percentage of the Principal Payment Amount for Loan Group III, (ii) the applicable Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group III, and (iii) the Group III Senior Liquidation Amount.

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

  • Group II Senior Principal Distribution Amount As to any Distribution Date, the sum of (i) the Group II Senior Percentage of the Principal Payment Amount for Loan Group II, (ii) the applicable Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group II, and (iii) the Group II Senior Liquidation Amount.

  • Group II Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group II Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group II Allocation Percentage.

  • Floating Rate Calculation Date means, for any Quarterly Floating Rate Period, the 30th day prior to the first day of such Quarterly Floating Rate Period.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • 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 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 I Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group I Principal Distribution Amount.

  • 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 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.

  • Fixed Rate Calculation Date means, for any Subsequent Fixed Rate Period, the 30th day prior to the first day of such Subsequent Fixed Rate Period.

  • 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.

  • Interest Rate Cap Payment (a) With respect to the Class A-2, Class A-3 and Class A-4 Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 35 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class A-2, Class A-3 and Class A-4 Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, (ii) the applicable Class A-2 and Class A-3 notional amount set forth on Schedule A to the Class A-2, Class A-3 and Class A-4 Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; (b) with respect to the Class M Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis; (ii) the applicable Class M notional amount set forth on Schedule A to the Class M Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; and (c) with respect to the Class B Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class B Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis; (ii) the applicable Class B notional amount set forth on Schedule A to the Class B Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement.

  • Periodic Interest Rate Cap As to each adjustable rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note.

  • 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 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.

  • Mortgage Interest Rate Cap With respect to an Adjustable Rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note.