Initial Periodic Rate Cap definition

Initial Periodic Rate Cap. With respect to each Adjustable Rate Mortgage Loan, the percentage specified in the related Mortgage Note that limits the permissible increase or decrease in the Mortgage Rate on its initial Adjustment Date.
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Initial Periodic Rate Cap. The initial upper and lower limit set for a Mortgage Rate on a Mortgage Loan, such that on the initial Adjustment Date for a Mortgage Loan, the Mortgage Rate will not increase or decrease by more than 5.000%.
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Initial Periodic Rate Cap. With respect to each Group I Mortgage Loan, Group II Mortgage Loan, Group III Mortgage Loan and Group IV Mortgage Loan, the maximum increase or decrease in the Mortgage Rate on the first Adjustment Date as provided in the related Mortgage Note.
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Examples of Initial Periodic Rate Cap in a sentence

  • The concept of the TIF is to concentrate development on a parcel of land.

  • The adjustable-rate Group II Mortgage Loans have a weighted average Initial Periodic Rate Cap of approximately 1.242% per annum and a weighted average Subsequent Periodic Rate Cap of approximately 1.000% per annum.

  • The adjustable-rate Group II Initial Mortgage Loans have a weighted average Initial Periodic Rate Cap of approximately 1.136% per annum and a weighted average Subsequent Periodic Rate Cap of approximately 1.000% per annum.

  • The adjustable-rate Group I Mortgage Loans have a weighted average Initial Periodic Rate Cap of approximately 1.236% per annum and a weighted average Subsequent Periodic Rate Cap of approximately 1.000% per annum.

  • I feel both honored and humble to have been privileged to participate in her progress as your President these past two years.

Related to Initial Periodic Rate Cap

  • Periodic Rate Cap With respect to each Adjustable Rate Mortgage Loan and any Adjustment Date therefor, the fixed percentage set forth in the related Mortgage Note, which is the maximum amount by which the Mortgage Rate for such Mortgage Loan may increase or decrease (without regard to the Maximum Mortgage Rate or the Minimum Mortgage Rate) on such Adjustment Date from the Mortgage Rate in effect immediately prior to such Adjustment Date.

  • Periodic Interest Rate Cap As to each adjustable rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note.

  • Initial Rate Cap With respect to each Adjustable Rate Mortgage Loan and the initial Adjustment Date therefor, a number of percentage points per annum that is set forth in the Mortgage Loan Schedule and in the related Mortgage Note, which is the maximum amount by which the Mortgage Interest Rate for such Adjustable Rate Mortgage Loan may increase or decrease from the Mortgage Interest Rate in effect immediately prior to such Adjustment Date.

  • Net Rate Cap For any Distribution Date and (i) each of the Class I-A and the Class II-A Certificates, the weighted average of the Net Rates of the Mortgage Loans in the related Loan Group as of the beginning of the related Due Period, weighted on the basis of the Stated Principal Balances thereof as of the preceding Distribution Date, as adjusted to an effective rate reflecting the accrual of interest on the basis of a 360-day year and the actual number of days elapsed in the related Interest Accrual Period and (ii) each of the Class M Certificates and the Class B Certificates, the weighted average of the Net Rates on the Mortgage Loans in each Loan Group, weighted in proportion to the results of subtracting from the aggregate Stated Principal Balance of each Loan Group, the Certificate Principal Balance of the related classes of Senior Certificates, as adjusted to an effective rate reflecting the accrual of interest on the basis of a 360-day year and the actual number of days elapsed in the related Interest Accrual Period. For federal income tax purposes, the Net Rate Cap (a) with respect to the Class I-A Certificates, is equal to the Uncertificated REMIC II Pass-Through Rate for the REMIC II Regular Interests LT1, LT2 and LT-Y1, (b) with respect to the Class II-A Certificates, is equal to the Uncertificated Pass-Through Rate for the REMIC II Regular Interests LT5, LT6 and LT-Y2 and (c) with respect to the Class M Certificates and Class B Certificates is the weighted average of the Uncertificated REMIC II Pass-Through Rates on the LT-Y1 and LT-Y2 REMIC II Regular Interests, weighted on the basis of their respective Uncertificated Principal Balances.

  • Quarterly Floating Rate Period means, for the initial Quarterly Floating Rate Period, the period commencing on September 20, 2018 and ending on and including December 19, 2018, and thereafter the period from and including the day immediately following the end of the immediately preceding Quarterly Floating Rate Period to but excluding the next succeeding Quarterly Commencement Date.

  • Subsequent Reset Period means the period from (and including) the Second Reset Date to (but excluding) the next Subsequent Reset Date, and each successive period from (and including) a Subsequent Reset Date to (but excluding) the next succeeding Subsequent Reset Date; and

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Initial Period means the period from (and including) the Issue Date to (but excluding) the First Call Date;

  • Floating Rate Calculation Date means, for any Quarterly Floating Rate Period, the 30th day prior to the first day of such Quarterly Floating Rate Period.

  • Fixed Rate Calculation Date means, for any Subsequent Fixed Rate Period, the 30th day prior to the first day of such Subsequent Fixed Rate Period.

  • Initial Rate Period means, with respect to the VMTP Shares of any Series, the period commencing on and including the Date of Original Issue thereof and ending on, and including, the next succeeding calendar day that is a Wednesday (or if such Wednesday is not a Business Day, the next succeeding Business Day).

  • Subsequent Reset Rate of Interest means, in respect of any Subsequent Reset Period and subject to Condition 4(b)(ii), the rate of interest determined by the Calculation Agent on the relevant Reset Determination Date as the sum of the relevant Mid-Swap Rate and the relevant Subsequent Margin.

  • Interest Rate Period means any Daily Interest Rate Period, Weekly Interest Rate Period, Short-Term Interest Rate Period, Long- Term Interest Rate Period or ARS Interest Rate Period.

  • Class A-2 Final Scheduled Payment Date means the Payment Date occurring in February 2027.

  • Initial Fixed Rate Period means the period commencing on the Issue Date and ending on and including June 30, 2020.

  • Term Loan Termination Date means the earlier to occur of (a) the Term Loan Maturity Date and (b) the acceleration of the Term Loans in accordance with the terms hereof.

  • Subsequent Reset Date means the date or dates specified in the applicable Final Terms;

  • Subsequent Fixed Rate Period means for the initial Subsequent Fixed Rate Period, the period commencing on April 1, 2022 and ending on and including March 31, 2027 and for each succeeding Subsequent Fixed Rate Period, the period commencing on the day immediately following the end of the immediately preceding Subsequent Fixed Rate Period and ending on and including March 31 in the fifth year thereafter.

  • Class A-2 Maturity Date means [ ] (or, if such day is not a Business Day, the next succeeding Business Day thereafter).

  • Incremental Term Loan Maturity Date means the final maturity date of any Incremental Term Loan, as set forth in the applicable Incremental Term Loan Assumption Agreement.

  • RMB Rate Calculation Date means the day which is two RMB Rate Calculation Business Days before the due date for payment of the relevant Renminbi amount under the Conditions.

  • Initial Term Loan Maturity Date means August 15, 2025 or, if such date is not a Business Day, the immediately preceding Business Day.

  • Subsequent Rate Period means, with respect to any Series of RVMTP Shares, the period consisting of seven calendar days, but adjusted in each case to reflect any changes when the regular calendar day that is a Rate Determination Date is not a Business Day, from, and including, the first calendar day following the Initial Rate Period of such Series to, and including, the next Rate Determination Date for such Series and any period thereafter from, and including, the first calendar day following a Rate Determination Date for shares of such Series to, and including, the next succeeding Rate Determination Date for shares of such Series.

  • Class A-1 Maturity Date means [ ] (or, if such day is not a Business Day, the next preceding Business Day).