Group II Net Rate Cap definition

Group II Net Rate Cap. For any Distribution Date, the weighted average of the Net Mortgage Rates of the Mortgage Loans in Loan Group II as of the last day of the related Due Period.
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Group II Net Rate Cap. With respect to any distribution date and Class II-A Certificates, the product of:
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Group II Net Rate Cap. With respect to any Distribution Date and any Class of Group II Certificates (other than the Class II-C Certificates and Class II-R Certificates), a per annum rate equal to the weighted average of the Net Mortgage Rates on the then outstanding Group II 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 II Mortgage Loans on such Due Date. The Group II Net Rate Cap for such Classes of Group II Certificates, 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 II Pass-Through Rates on the REMIC II Regular Interests, weighted on the basis of the Uncertificated Principal Balances of each such REMIC II Regular Interest (adjusted for the actual number of days elapsed in the related Accrual Period).
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Examples of Group II Net Rate Cap in a sentence

  • The Group II Certificates (other than the Class AF-1 Certificates) and Class MF Certificates will bear interest at a rate equal to the lesser of its applicable fixed rate of interest and the Group II Net Rate Cap.

  • When the innovation succeeds economically, the innovator’s organization enjoys exceptional profits and it expands faster than its competitors.

  • The Class AF-1 Certificates will bear interest at a rate that adjusts monthly, equal to the lesser of (i) one-month LIBOR plus the applicable margin and (ii) the Group II Net Rate Cap.

  • The Group II Net Rate Cap will equal a) until the distribution date in December 2005, the weighted average of the net mortgage rates on all of the mortgage loans adjusted for the interest payable on the Class A-IO Certificates and b) thereafter, the weighted average of the net rates on the Group II mortgage loans.

  • 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 II Certificates, on a pro-rata basis, then sequentially, to the Class MF-1, Class MF-2, Class MF-3, Class MF-4, Class MF-5, Class MF-6, Class MF-7, Class MF-8 and Class MF-9 Certificates, in that order, the related Group II Net Rate Cap Carryover remaining unpaid after distributions pursuant to clause 18 of Section B below.

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

  • The Pass-Through Rate for the Class A-2 and Class A-3 Certificates will be a floating rate based on One-Month LIBOR plus the respective Margin subject to the lesser of a) 11% and b) the Group II Net Rate Cap.

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

  • Group II Net Rate Cap: With respect to an Interest Accrual Period and each class of the Group II Certificates, a rate per annum equal to the weighted average of the Adjusted Net Mortgage Rates on the Group II Mortgage Loans as of the beginning of the related Due Period, and with respect to the Class AF-1 Certificates only, multiplied by a fraction, the numerator of which is 30 and denominator of which is the actual number of days in the related Interest Accrual Period.


More Definitions of Group II Net Rate Cap

Group II Net Rate Cap. For any Distribution Date, the product of (i) the Group II Net WAC multiplied by (ii) the quotient of 30 divided by the actual number of days in the Accrual Period.
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Group II Net Rate 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 II Mortgage Loans for the related Interest Accrual Period at their Net Mortgage Interest Rates and (y) the aggregate Principal Balance of the Group II Mortgage Loans (as of the first day of the related Collection Period).
Sample 1
Group II Net Rate Cap. For any Class of Group II Certificates and any Distribution Date, the per annum rate equal to (i) the weighted average Net Loan Rate of the Mortgage Loans in Loan Group II, 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 AF-2, Class AF-3, Class AF-4, Class AF-5 and Class AF-6 Certificates and (y) the denominator of which is the aggregate of the Principal Balances of all the Mortgage Loans in Loan Group II as of the first day of the related Prepayment Period, and with respect to the Class AF-1 Certificates only, the resulting amount multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Period.
Sample 1
Group II Net Rate Cap. With respect to the Group II Offered Certificates and any Distribution Date, the excess of (i) the weighted average Group II Net Mortgage Rates on the Group II Mortgage Loans as of the related Due Period (after giving effect to principal prepayments received in the Prepayment Period related to such Distribution Date) over (ii) beginning with the Distribution Date in January 2017, the Final Maturity Reserve Rate.
Sample 1
Group II Net Rate Cap. For any Class of Group II Certificates and any Distribution Date, the per annum rate equal to the weighted average Net Loan Rate of the Mortgage Loans in Loan Group II, expressed as a per annum rate, and with respect to the Class AF-1 Certificates only, the resulting amount multiplied by 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.
Sample 1
Group II Net Rate 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 II Mortgage Loans for the related Interest Accrual Period at their Net Mortgage Interest Rates and (y) the aggregate Principal Balance of the Group II Mortgage Loans (as of the first day of the related Collection Period) expressed (in the case of the Class AF-1 Certificates) on the basis of an assumed 360-day year and the actual number of days elapsed during the related Interest Accrual Period minus the product of (x) the Insurer Fee Rate multiplied by (y) a fraction the numerator of which equals the Class AF-3 Certificate Balance and the denominator of which equals the aggregate Principal Balance of all Group II Mortgage Loans.
Sample 1

Related to Group II Net Rate Cap

  • 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.

  • 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 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 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 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 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 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 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 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.

  • 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 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 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 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 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.

  • 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.

  • Net Monthly Excess Cashflow With respect to each Distribution Date, the sum of (a) any Overcollateralization Release Amount for such Distribution Date and (b) the excess of (x) Available Funds for such Distribution Date over (y) the sum for such Distribution Date of (A) the Monthly Interest Distributable Amounts for the Class A Certificates and the Mezzanine Certificates, (B) the Unpaid Interest Shortfall Amounts for the Class A Certificates and (C) the Principal Remittance Amount.

  • Group II Subordinate Percentage For any Distribution Date, the excess of 100% over the Group II Senior Percentage for such 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.

  • 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.

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

  • Group I Allocation Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is (i) the Group I Principal Remittance Amount for such Distribution Date, and the denominator of which is (ii) the Principal Remittance Amount for such Distribution Date.