Interest Rate Cap Accounts definition

Interest Rate Cap Accounts. The Group 1 Senior Class Interest Rate Cap Account, the Group 2 Senior Interest Rate Cap Account and the Subordinate Class Interest Rate Cap Account. Ownership of the Interest Rate Cap Accounts is evidenced by the Class X Certificates.
Sample 1Sample 2Sample 3
Interest Rate Cap Accounts. The Class I-A-1 Interest Rate Cap Account and the Class I-A-2 Interest Rate Cap Account. Ownership of the Interest Rate Cap Accounts is evidenced by the Class X Certificates.
Sample 1
Interest Rate Cap Accounts. The Class 1-A-1A Interest Rate Cap Account, the Class 1-A-2 Interest Rate Cap Account, the Class 1-M-1 Interest Rate Cap Account, the Class 1-M-2 Interest Rate Cap Account, the Class 1-M-3 Interest Rate Cap Account and the Class 1-M-4 Interest Rate Cap Account. Ownership of the Interest Rate Cap Accounts is evidenced by the Class X Certificates.
Sample 1

Examples of Interest Rate Cap Accounts in a sentence

  • The Trust Fund (exclusive of any entitlement to Assigned Prepayment Premiums, Interest Rate Cap Agreements, Swap Agreements, the assets held in the Interest Rate Cap Accounts, rights to payments from the Supplemental Interest Accounts, Prefunding Accounts, Capitalized Interest Accounts and certain other assets, in each case if applicable and as set forth in the Series Supplement) for federal income tax purposes shall consist of one or more REMICs as more particularly set forth in the Series Supplement.

  • Ownership of the Interest Rate Cap Accounts is evidenced by the Class 1-X Certificates.

  • The Interest Rate Cap Accounts shall be Eligible Accounts, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys, including without limitation, other moneys held by the Trust Administrator pursuant to this Agreement.

  • The Interest Rate Cap Accounts shall be an asset of the Supplemental Interest Trust, but will not be an asset of any REMIC.

  • As provided herein, the Trust Administrator shall elect that the Trust Fund (exclusive of the Supplemental Interest Trust, the Interest Rate Cap Accounts, the Interest Rate Cap Agreements and the Basis Risk Reserve Fund) be treated for federal income tax purposes as comprising two real estate mortgage investment conduits (each a “REMIC” or, in the alternative, “Subsidiary REMIC 1” and “Master REMIC”).

  • The Class X Certificate also represents ownership of the Interest Rate Cap Agreements and the assets held from time to time in the Basis Risk Reserve Fund and the Interest Rate Cap Accounts.

  • The Pooling REMIC shall hold as assets the property of the Trust Fund other than the Lower Tier Interests in the Pooling REMIC, the Subsidiary REMIC and the Intermediate REMIC, the Basis Risk Reserve Fund, the Prefunding Account, the Capitalized Interest Account, the Interest Rate Cap Accounts, the Interest Rate Cap Agreements and any entitlement to Prepayment Premiums or Excess Servicing Fees.

  • The Trust Fund (exclusive of the Class C-B-1, Class 9-A-4, Class 9-A-5, Class 9-A-6 and Class 9-A-7 Interest Rate Cap Agreements and assets held in the Basis Risk Reserve Funds and the Class C-B-1, Class 9-A-4, Class 9-A-5, Class 9-A-6 and Class 9-A-7 Interest Rate Cap Accounts, and the Prefunding Account, and the Capitalized Interest Account) for federal income tax purposes shall consist of four REMICs (referred to as "REMIC I," "REMIC II," "REMIC III" and "REMIC IV").

  • On the Closing Date, the Trust Administrator shall establish and maintain in its name on behalf of the Supplemental Interest Trust Trustee, in trust for the benefit of the Class 1-A-1C, Class 1-A-2B, Class 1-M-4, Class 1-M-5 and Class 1-B-1 Certificates, five Interest Rate Cap Accounts designated as the Class 1-A-1C Cap Account, Class 1-A-2B Cap Account, Class 1-M-4 Cap Account, Class 1-M-5 Cap Account and Class 1-B-1 Cap Account.

  • On the Closing Date, the Trust Administrator shall establish and maintain in its name on behalf of the Supplemental Interest Trust Trustee, in trust for the benefit of the Class A-1-B-1, Class A-1-B-2, Class A-1-C, Class A-2, Class A-3-B and Class M-5-B Certificates, six Interest Rate Cap Accounts.


More Definitions of Interest Rate Cap Accounts

Interest Rate Cap Accounts. The Class A-2 Interest Rate Cap Account and the Class A-3 Interest Rate Cap Account.
Sample 1
Interest Rate Cap Accounts. The separate Eligible Accounts created and maintained by the Trustee pursuant to Section 3.06(f) in the name of the Trustee for the benefit of the Holders of the Class 5-A-1, Class 5-A-2 and Class 5-A-3 Certificates, as applicable, and designated "Deutsche Bank National Trust Company in trust for registered holders of IndyMac INDX Mortgage Loan Trust 2004-AR9, Mortgage Pass-Through Certificates, Series 2004-AR9, [Class 5-A-1], [Class 5-A-2][Class 5-A-3]." Funds in the Interest Rate Cap Accounts shall be held in trust for the Holders of the related Class of Certificates for the uses and purposes set forth in this Agreement. The Interest Rate Cap Accounts will not be assets of any REMIC.
Sample 1

Related to Interest Rate Cap Accounts

  • 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;

  • Interest Rate Cap Agreement means, as applicable, an Interest Rate Cap Agreement (together with the confirmation and schedules relating thereto) in form and substance reasonably satisfactory to Lender between Borrower and an Acceptable Counterparty or a Replacement Interest Rate Cap Agreement.

  • Interest Rate Cap Payment (a) With respect to the Group II Class A Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 35 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Group II Class A Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class A-2, Class A-3 and Class A-4 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; (b) with respect to the Class M Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class M-1, Class M-2 and Class M-3 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; and (c) with respect to the Class B Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class B Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class B-1, Class B-2 and Class B-3 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date.

  • Interest Rate Cap Provider if any, shall mean the entity listed as the Interest Rate Cap Provider in the Series Term Sheet, in its capacity as obligor under the Class Interest Rate Caps, or if any Replacement Class Interest Rate Caps or Qualified Substitute Cap Arrangements are obtained pursuant to Section 15, the obligor with respect to such Replacement Class Interest Rate Caps or Qualified Substitute Cap Arrangements.

  • 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.

  • Mortgage Interest Rate Cap With respect to an Adjustable Rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note.

  • Replacement Interest Rate Cap Agreement means an interest rate cap agreement from an Acceptable Counterparty with terms identical to the Interest Rate Cap Agreement except that the same shall be effective in connection with replacement of the Interest Rate Cap Agreement following a downgrade, withdrawal or qualification of the long-term unsecured debt rating of the Counterparty; provided that to the extent any such interest rate cap agreement does not meet the foregoing requirements, a “Replacement Interest Rate Cap Agreement” shall be such interest rate cap agreement approved in writing by each of the Rating Agencies and Lender with respect thereto.

  • Swap Account The account or accounts created and maintained pursuant to Section 4.08. The Swap Account must be an Eligible Account.

  • Interest Rate Contracts means all interest rate swap agreements, interest rate cap agreements, interest rate collar agreements and interest rate insurance.

  • Net WAC Rate Carryover Reserve Account The Net WAC Rate Carryover Reserve Account established and maintained pursuant to Section 4.10.

  • Periodic Mortgage Rate Cap With respect to an Adjustable Rate Mortgage Loan, the periodic limit on each Mortgage Rate adjustment as set forth in the related Mortgage Note.

  • Mortgage Interest Rate The annual rate of interest borne on a Mortgage Note.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Class A-1 Interest Rate means 0.48000% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).

  • Interest Reserve Account As defined in Section 3.4(d).

  • Minimum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased on any Adjustment Date.

  • Lower-Tier Interest Rate As described in the Preliminary Statement.

  • 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.

  • Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.

  • Maximum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the maximum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be increased on any Adjustment Date.

  • Loan Interest Rate means, as to any Loan, the annual rate of interest specified in the Loan.

  • Interest Rate Period means that period of time for which the interest rate with respect to the Bonds has been determined by the Remarketing Agent or otherwise as provided in the definition of the applicable Interest Rate Mode, commencing on the applicable Interest Rate Adjustment Date, and terminating on the day immediately preceding the following Interest Rate Adjustment Date, if any.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class E Interest Rate means 5.02% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Applicable Interest Rate means (i) with respect to any Fixed Rate Indebtedness, the fixed interest rate applicable to such Fixed Rate Indebtedness at the time in question, and (ii) with respect to any Floating Rate Indebtedness, either (x) the rate at which the interest rate applicable to such Floating Rate Indebtedness is actually capped (or fixed pursuant to an interest rate hedging device), at the time of calculation, if Borrower has entered into an interest rate cap agreement or other interest rate hedging device with respect thereto or (y) if Borrower has not entered into an interest rate cap agreement or other interest rate hedging device with respect to such Floating Rate Indebtedness, the greater of (A) the rate at which the interest rate applicable to such Floating Rate Indebtedness could be fixed for the remaining term of such Floating Rate Indebtedness, at the time of calculation, by Borrower’s entering into any unsecured interest rate hedging device either not requiring an upfront payment or if requiring an upfront payment, such upfront payment shall be amortized over the term of such device and included in the calculation of the interest rate (or, if such rate is incapable of being fixed by entering into an unsecured interest rate hedging device at the time of calculation, a fixed rate equivalent reasonably determined by Administrative Agent) or (B) the floating rate applicable to such Floating Rate Indebtedness at the time in question.

  • Term Loan Interest Rate means for any day a per annum rate of interest equal to the greater of either (i) 9.25% plus the prime rate as reported in The Wall Street Journal minus 3.50% and (ii) 9.25%.