Initial Cap Agreement definition

Initial Cap Agreement. The Interest Rate Cap Agreement dated as of November 26, 2003, entered into between the Trustee on behalf of the Trust Fund (for the benefit of Certificateholders) and the Initial Cap Provider, which agreement provides for the monthly payment, commencing in December 2003 and terminating in November 2005, by the Initial Cap Provider specified therein, but subject to the conditions set forth therein, together with the confirmation and schedules relating thereto, in the form of Exhibit O-1 hereto. Initial Cap Provider: ▇▇▇▇▇▇ Brothers Special Financing Inc. Initial LIBOR Rate: 1.1175%.
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Examples of Initial Cap Agreement in a sentence

  • REMIC 1 shall hold as its assets the property of the Trust Fund other than the Lower Tier Interests in REMIC 1, REMIC 2 and REMIC 3, the Basis Risk Reserve Fund, the Initial Cap Agreement and the Class 1-A1 Cap Agreement.

  • As provided herein, the Trustee shall elect that the Trust Fund (exclusive of (i) the Basis Risk Reserve Fund, (ii) the Initial Cap Agreement and (iii) the Class 1-A1 Cap Agreement) be treated for federal income tax purposes as comprising four real estate mortgage investment conduits (each a “REMIC” or, in the alternative, REMIC 1, REMIC 2, REMIC 3 and REMIC 4; REMIC 4 also being referred to as the “Upper Tier REMIC”).

  • In addition, the Trustee shall hold each of the Initial Cap Agreement and the Class 2-A1 Cap Agreement as an asset in the Basis Risk Reserve Fund.

  • Cap Agreement: Either the Initial Cap Agreement or the Class 2-A1 Cap Agreement.

  • Cap Agreement: Either the Initial Cap Agreement or the Class A5 Cap Agreement.

  • Cap Agreement: Either the Initial Cap Agreement or the Class A3 Cap Agreement.

  • In addition, the Trustee shall hold each of the Initial Cap Agreement and the Class A5 Cap Agreement as an asset in the Basis Risk Reserve Fund.

  • In addition, the Trustee shall hold the Initial Cap Agreement as an asset in the Initial Basis Risk Reserve Fund.

  • In addition, the Trustee shall hold the Initial Cap Agreement and the Class 1-A1 Cap Agreement as an asset in the Basis Risk Reserve Fund.

  • In addition, the Trustee shall hold the Initial Cap Agreement and the Class 1-A Cap Agreement as an asset in the Basis Risk Reserve Fund.