Group I Net WAC definition

Group I Net WAC. With respect to the Group I Offered Certificates and any Distribution Date, the excess of (1) the weighted average of the Group I Net Mortgage Rates on the Group I Mortgage Loans as of the first day of the related Due Period 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 first 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 due to a Swap Provider Trigger Event) payable to the Swap Provider on such Distribution Date, divided by the Stated Principal Balance of the Group I Mortgage Loans as of the first day of the related Due Period, multiplied by 12.
Group I Net WAC. Cap: For any Distribution Date and each Group I Class A Certificate, a per annum rate equal to the Weighted Average Net Rate of the Mortgage Loans in Group I less, the Pass-Through Rate for the Class A-IO-I Component for such Distribution Date multiplied by a fraction equal to:
Group I Net WAC. Cap: For any Distribution Date and each Group I Class A Certificate, a per annum rate equal to the Weighted Average Net Rate of the Mortgage Loans in Group I less (1) the Pass-Through Rate for the Class A-IO Certificates for such Distribution Date multiplied by a fraction, the numerator of which is the Notional Principal Balance of the Class A-IO-I Component prior to such Distribution Date, and the denominator of which is the Assumed Principal Balance for Group I as of such Distribution Date; and (2) the Pass-Through Rate for the Class S-I Component for such Distribution Date multiplied by a fraction, the numerator of which is the Notional Principal Balance of the Class S-I Component prior to such Distribution Date, and the denominator of which is the Assumed Principal Balance for Group I as of such Distribution Date. For all Group I Certificates other than the Class AF-1 Certificates, the Group I Net WAC Cap derived under the above formula will be adjusted to reflect a 30/360 day count convention. In the case of the Class AF-1 Certificates, the Group I Net WAC Cap derived under the above formula will be adjusted to reflect an actual/360 day count convention. Group Subordinate Amount: For each Group and any Distribution Date is the excess of the Assumed Principal Balance for such Group for the immediately preceding Distribution Date over the aggregate Certificate Principal Balance of the Senior Certificates of such Group immediately prior to such Distribution Date. Group II: The pool of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Group II, including any related Subsequent Mortgage Loans and any Substitute Mortgage Loans delivered in replacement of any Mortgage Loan or Subsequent Mortgage Loan. Group II Certificate: Any of the Class AV Certificates. Group II Class A Certificates: Any Group II Certificate.

Examples of Group I Net WAC in a sentence

  • Any of the Group I Net WAC Cap, the Group II Net WAC Cap or the Subordinated Net WAC Cap, as the context requires.

  • Ambac will not guarantee the payment of Group I Net WAC Cap Rate Shortfalls, Group II Basis Risk Shortfalls, Relief Act Shortfalls, or Prepayment Interest Shortfalls.

  • Notwithstanding the foregoing, no distribution of the proceeds of any Termination Price shall be made to the Owners of the Class X-IO and Class R Certificates until all such amounts have been applied in reduction of any outstanding Group I Net WAC Cap Carryover and Group II Net WAC Cap Carryover.

  • Distribution of Group I Net WAC Cap Shortfall Carry-Forward Amounts, Class A-II Basis Risk Shortfall Carry-Forward Amounts and Class M-II Basis Risk Shortfall Carry-Forward Amounts; Reserve Fund...................115 Section 4.10.

  • Class A-I-2 through Class A-I-6 Certificates: The lesser of the fixed rate coupon and the related Group I Net WAC Cap Rate on a 30/360-day basis.

  • The Policy will not guarantee any interest shortfalls relating to the Relief Act, prepayment interest shortfalls, Group I Net WAC Cap Shortfalls or Group II Basis Risk Shortfalls.

  • On any Distribution Date, the Weighted Average Net Mortgage Rate of a Group, and the resulting Group I Net WAC Cap and Group II Net WAC Cap, as applicable, will be calculated based on the rate of interest on each related Mortgage Loan as may be reduced by any shortfalls in interest collection resulting from application of the Soldiers' and Sailors' Civil Relief Act of 1940, as amended.

  • FGIC will not guarantee the payment of Group I Net WAC Cap Rate Shortfalls, Group II Basis Risk Shortfalls, Relief Act Shortfalls, or Prepayment Interest Shortfalls.

  • The Group I Policy will not cover any prepayment interest shortfalls or Relief Act Shortfalls nor any reduction in accrued interest due to the application of the Group I Net WAC Rate and is for the benefit of the Class I Noteholders only.

  • NR 10.13, except that steel jawed traps, enclosed trigger traps, snares, or body-gripping traps of the conibear type as authorized under s.


More Definitions of Group I Net WAC

Group I Net WAC. 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 Collection Period at their 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 Net WAC. For each Distribution Date, an annual rate equal to a fraction, expressed as a percentage, the numerator of which is the product of (1) the Optimal Interest Remittance Amount for Pool 1 for such Distribution Date and (2) 12, and the denominator of which is the Pool Balance for Pool 1 as of the first day of the related Collection Period (not including for this purpose Mortgage Loans for which prepayments in full have been received and distributed in the month prior to that Distribution Date).
Group I Net WAC. The Net WAC of Group I.
Group I Net WAC. With respect to any Distribution Date (and the related Accrual Period), a per annum rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (i) the Optimal Interest Remittance Amount for Pool 1 for such date and (ii) 12, and the denominator of which is the Aggregate Loan Balance for Pool 1 as of the first day of the related Collection Period (not including for this purpose Mortgage Loans for which prepayments in full have been received and distributed in the month prior to that Distribution Date), multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Accrual Period related to such Distribution Date.

Related to Group I Net WAC

  • Net WAC With respect to any Distribution Date and for any Mortgage Group, the weighted average Net Mortgage Rate for the Mortgage Loans in such Mortgage Group calculated based on the respective Net Mortgage Rates and the Stated Principal Balances of such Mortgage Loans as of the preceding Distribution Date (or, in the case of the first Distribution Date, as of the Cut-off Date).

  • Group III All applicants for employment who have had two (2) or more years' experience in the trade, are residents of the geographical area constituting the normal construction labor market area, and who have been employed in the normal construction labor market area for at least six (6) months in the last two and one-half (2½) years in the geographical area covered by the collective bargaining agreement.

  • 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.

  • 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 Senior Certificates As specified in the Preliminary Statement.

  • Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.

  • 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 II Senior Certificates As specified in the Preliminary Statement.

  • 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.

  • Group II Stepdown Date The later to occur of (i) the Distribution Date in [Month/Year] or (ii) the first Distribution Date on which (A) the Group II Class A Certificate Principal Balance (reduced by the Group II Principal Funds with respect to such Distribution Date) is less than or equal to (B) ___% of the Stated Principal Balances of the Group II Mortgage Loans plus the Pre-Funded Amount allocable to Loan Group II, in each case, as of such Distribution Date.

  • Loan Group II The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group II.

  • 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 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.

  • Net WAC Pass-Through Rate With respect to the Class A-1 Certificates and any Distribution Date, a rate per annum (adjusted for the actual number of days elapsed in the related Interest Accrual Period) equal to the product of (i) twelve and (ii) a fraction, expressed as a percentage, the numerator of which is the amount of interest which accrued on the Group I Mortgage Loans in the prior calendar month minus the fees payable to the Servicer, the Master Servicer and the Credit Risk Manager with respect to the Group I Mortgage Loans for such Distribution Date and the Group I Allocation Percentage of any Net Swap Payment payable to the Swap Provider and Swap Termination Payment payable to the Swap Provider which was not caused by the occurrence of a Swap Provider Trigger Event, in each case for such Distribution Date and the denominator of which is the aggregate principal balance of the Group I Mortgage Loans as of the last day of the immediately preceding Due Period (or as of the Cut-off Date with respect to the first Distribution Date). For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of (adjusted for the actual number of days elapsed in the related Interest Accrual Period) the REMIC II Remittance Rate on REMIC II Regular Interest I-GRP, weighted on the basis of the Uncertificated Balance of such REMIC II Regular Interest. With respect to the Class A-2 Certificates and any Distribution Date, a rate per annum (adjusted for the actual number of days elapsed in the related Interest Accrual Period) equal to the product of (i) twelve and (ii) a fraction, expressed as a percentage, the numerator of which is the amount of interest which accrued on the Group II Mortgage Loans in the prior calendar month minus the fees payable to the Servicer, the Master Servicer and the Credit Risk Manager with respect to the Group II Mortgage Loans for such Distribution Date and the Group II Allocation Percentage of any Net Swap Payment payable to the Swap Provider and Swap Termination Payment payable to the Swap Provider which was not caused by the occurrence of a Swap Provider Trigger Event, in each case for such Distribution Date and the denominator of which is the aggregate principal balance of the Group II Mortgage Loans as of the last day of the immediately preceding Due Period (or as of the Cut-off Date with respect to the first Distribution Date). For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of (adjusted for the actual number of days elapsed in the related Interest Accrual Period) the REMIC II Remittance Rate on REMIC II Regular Interest II-GRP, weighted on the basis of the Uncertificated Balance of such REMIC II Regular Interest. With respect to the Mezzanine Certificates and any Distribution Date a rate per annum equal to the weighted average (weighted in proportion to the results of subtracting from the Scheduled Principal Balance of each loan group, the Certificate Principal Balance of the related Class A Certificates), of (i) the Net WAC Pass-Through Rate for the Class A-1 Certificates and (ii) the Net WAC Pass-Through Rate for the Class A-2 Certificates. For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of (adjusted for the actual number of days elapsed in the related Interest Accrual Period) the REMIC II Remittance Rates on (a) REMIC II Regular Interest I-SUB, subject to a cap and a floor equal to the REMIC II Remittance Rate on REMIC II Regular Interest I-GRP, and (b) REMIC II Regular Interest II-SUB, subject to a cap and a floor equal to the REMIC II Remittance Rate on REMIC II Regular Interest II-GRP, weighted on the basis of the Uncertificated Balance of each such REMIC II Regular Interest.

  • Net WAC Rate With respect to any Distribution Date (and the related Accrual Period), a per annum rate equal to the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the related Collection Period (not including for this purpose Mortgage Loans for which prepayments in full have been received and distributed in the month prior to that Distribution Date).

  • Group I Stepdown Date The later to occur of (i) the Distribution Date in [Month/Year] or (ii) the first Distribution Date on which the Group I Class A Certificate Principal Balance (reduced by the Group I Principal Funds with respect to such Distribution Date) is less than or equal to ____% of the Stated Principal Balances of the Group I Mortgage Loans plus the Pre-Funded Amount allocable to Loan Group I, in each case, as of the 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.

  • Loan Group IV The group of Mortgage Loans comprised of the Group IV 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.

  • Class X-1 Strip Rate With respect to any Distribution Date, the amount, if any, by which (i) the Weighted Average Net Mortgage Rate for such Distribution Date exceeds (ii) the sum of the Class LA-1-2-A Component Class X-2 Strip Rate and the Class A-1 Pass-Through Rate for such Distribution Date.

  • Loan Group 5 The Group 5 Mortgage Loans.

  • 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 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.

  • Loan Group 4 The Group 4 Mortgage Loans.

  • Class X Strip Rate With respect to each Component for any Distribution Date, a rate per annum equal to: (i) the WAC Rate for such Distribution Date, minus (ii) the Pass-Through Rate for the Corresponding Certificates.

  • 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.