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.
Group II Net Rate Cap. With respect to any distribution date and Class II-A Certificates, the product of:
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).
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.
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).
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.
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.
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.
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.