Net Funds Cap definition

Net Funds Cap. The Pool 1 Net Funds Cap, the Pool 2 Net Funds Cap or the Subordinate Net Funds Cap, as the context requires.

Net Funds Cap. With respect to any Distribution Date, an annual rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (i) the Optimal Interest Remittance Amount for such Distribution Date and (2) 12, and the denominator of which is the Pool Balance for the immediately preceding Distribution Date multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Accrual Period related to such Distribution Date.

Net Funds Cap. Any of the Group 1 Senior Net Funds Cap, the Group 2 Senior Net Funds Cap or the Subordinate Net Funds Cap, as applicable.

Examples of Net Funds Cap in a sentence

• Areas would be closed to public access while work is being performed and machinery is being operated, or if conditions are deemed unsafe.

• Class A-1F1 Pass-Through Rate: With respect to the initial Interest Accrual Period (a) on or prior to the Optional Termination Date, the lesser of (i) 5.000% per annum and (ii) the Net Funds Cap, and (b) after the Optional Termination Date, the lesser of (i) 5.500% per annum and (ii) the Net Funds Cap.

• The Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificateholders will also be treated as holders of rights in an limited recourse interest rate cap contract written by the Class X Certificateholder whereby the Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificateholders will receive any excess of the Subordinate Net Funds Cap over the Adjusted Subordinate Net Funds Cap on their respective principal balances for such Distribution Date.

• Class A-1F2 Pass-Through Rate: With respect to the initial Interest Accrual Period (a) on or prior to the Optional Termination Date, the lesser of (i) 5.150% per annum and (ii) the Net Funds Cap, and (b) after the Optional Termination Date, the lesser of (i) 5.650% per annum and (ii) the Net Funds Cap.

• Class A-R Pass-Through Rate: With respect to the Distribution Date in January 2006, February 2006 or March 2006, a per annum rate equal to the Initial Mortgage Loan Net WAC Rate, and with respect to any Distribution Date thereafter, a per annum rate equal to the Net Funds Cap.

More Definitions of Net Funds Cap

Net Funds Cap. For any Payment Date, will be the annual rate equal to (a ) a fraction, expressed as a percentage, the numerator of which is the product of (1) the Optimal Interest Remittance Amount for such date and (2) 12, and the denominator of which is the Class Principal Balance of all of the notes immediately prior to such Payment Date, multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the immediately preceding Accrual Period for the Class A, Class M-2 and Class B-1 Notes.

Net Funds Cap. Any of the Class A-1 Net Funds Cap, the Class A-2 Net Funds Cap, the Class A-IO-1 Net Funds Cap or the Subordinate Net Funds Cap, as applicable.

Net Funds Cap. For any Distribution Date and Loan Group III, will be a per annum rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (1) the Optimal Interest Remittance Amount for such date and (2) 12, and the denominator of which is the applicable Aggregate Loan Group Balance of Loan Group III for the immediately preceding Distribution Date (or, in the case of the first Distribution Date, the Aggregate Loan Group Balance of Loan Group III as of the Cut-off Date), multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period.

Net Funds Cap. Any of the Pool 1 Net Funds Cap, the Pool 2 Net Funds Cap, the Pool 3 Net Funds Cap or the Subordinate Net Funds Cap.

Net Funds Cap. With respect to any Distribution Date and any Class of LIBOR Certificates or Fixed Rate Certificates, an annual rate equal to (a) the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the related Collection Period, multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Accrual Period for such Distribution Date; provided, however that with respect to the Fixed Rate Certificates, clause (b) above shall be equal to 1.

Net Funds Cap. With respect to any Payment Date, an annual rate equal to:

Net Funds Cap. Any of the Class A-1 Net Funds Cap, the Class A Group 2 Net Funds Cap, the Class A-IO Net Funds Cap, or the Subordinate Net Funds Cap, as applicable. Net Liquidation Proceeds: Liquidation Proceeds, net of (1) unreimbursed, reasonable out-of-pocket expenses and (2) unreimbursed Servicing Fees, Servicing Advances and Advances.