Initial Cap means the product of (x) the Cap multiplied by (y) the quotient represented by (1) the number of days between the Distribution Date and December 31, 2018 (inclusive of such dates), divided by (2) 365.
Initial Cap. For each Mortgage Loan, the applicable limit on the adjustment of the Mortgage Interest Rate for the initial Rate Adjustment Date specified in the applicable Mortgage Note and designated as such in the Mortgage Loan Schedule.
Initial Cap has the meaning specified in Section 9.1.
Examples of Initial Cap in a sentence
Thirty (30) days following the Distribution Date, Indemnitor shall pay to Indemnitee the Estimated Initial Obligation; provided, that, in the event that the Estimated Initial Obligation exceeds the Initial Cap, Indemnitor shall pay to Indemnitee an amount equal to the Initial Cap.
This text has been separately filed with the Securities and Exchange Commission Period Cap Amount Per Period January 1, 2011 through December 31, 2011 The Initial Cap Percentage.
On the final day of each Governing Member’s Term that has not been renewed pursuant to Section 4.3(g), the Council shall purchase such Governing Member’s Interest at the price equal to the Initial Cap...
More Definitions of Initial Cap
Initial Cap. With respect to each Adjustable Rate Mortgage Loan, the maximum percentage per annum specified in the related Mortgage Note by which the Mortgage Rate may increase on the first Adjustment Date of such Mortgage Loan. Insurance Fee Rate: [to be provided if applicable.]
Initial Cap has the meaning ascribed thereto in Section 9.02(d) of this Agreement.
Initial Cap shall have the meaning as set forth in Section 4.1.15(a).
Initial Cap has the meaning given to such term in Section 5.4(a)(i).
Initial Cap means TWO HUNDRED AND TEN MILLION DOLLARS ($210,000,000).
Initial Cap means, for any relevant period, an amount equal to six and one-half percent (6.5%) of Gross Receipts for such relevant period.
Initial Cap means an amount equal to the Escrow Amount, including any portion of the Escrow Amount previously distributed by the Escrow Agent to, on behalf of, or for the benefit of Seller.