Net Rate Cap Fund definition

Net Rate Cap Fund. The account established and maintained pursuant to Section 5.08.
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Net Rate Cap Fund. The Net Rate Cap Fund established and maintained as described in Section 3.21 and entitled "Bankers Trust Company of California, N.A., as Trustee for Aames Mortgage Trust 2001-1, Mortgage Pass-Through Certificates, Series 2001-1, Net Rate Cap Fund."
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Net Rate Cap Fund. The Net Rate Cap Fund established and maintained as described in Section 3.21 and entitled “Deutsche Bank National Trust Company, as Trustee for Aames Mortgage Trust 2002-2, Mortgage Pass-Through Certificates, Series 2002-2, Net Rate Cap Fund.” Non-permitted Foreign Holder: As defined in Section 6.02(b).
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Examples of Net Rate Cap Fund in a sentence

  • Any investment earnings on the Net Rate Cap Fund will be treated as owned by the Class BIO Certificateholder and will be taxable to the Class BIO Certificateholder.

  • The Net Rate Cap Fund shall be an Eligible Account, 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 Trustee pursuant to this Agreement.

  • The Class BIO Certificates shall evidence ownership of the Net Rate Cap Fund for federal tax purposes and shall direct the Trustee in writing as to the investment of amounts therein.

  • The Trustee shall treat the Net Rate Cap Fund as having a nominal (zero) value for the Holders of the Offered Certificates.

  • The Net Rate Cap Fund shall be treated as an "outside reserve fund" under applicable Treasury regulations and will not be part of any REMIC.

  • The Net Rate Cap Fund shall be treated as an “outside reserve fund” under applicable Treasury regulations and will not be part of any REMIC.

  • The Trustee shall make withdrawals from the Net Rate Cap Fund to make distributions pursuant to Section 5.01(a)(14) hereof.

  • If no Net Rate Cap Carryover is payable on a Distribution Date, the Trustee shall deposit into the Net Rate Cap Fund on behalf of the Class C Certificateholders an amount such that when added to other amounts already on deposit in the fund, the aggregate amount on deposit therein is equal to $10,000.

  • The Trustee will establish the Net Rate Cap Fund on the Closing Date.

  • On the Closing Date, the Class C Certificateholders will deposit, or cause to be deposited, into the Net Rate Cap Fund $10,000.

Related to Net Rate Cap Fund

  • Net Rate Cap With respect to any Distribution Date and the Class A Certificates and Class M Certificates, a per annum rate equal to the lesser of (x) 11.00% per annum and (y) the weighted average of the Net Mortgage Rates on the then outstanding Mortgage Loans, weighted based on the Stated Principal Balances of such Mortgage Loans as of the related Due Date prior to giving effect to any reduction in the Stated Principal Balances of such Mortgage Loans on such Due Date; provided, however, for federal income tax purposes, a rate equivalent to the foregoing, expressed as the lesser of (x) 11.00% per annum and (y) the weighted average of the Uncertificated REMIC I Pass-Through Rates on the REMIC I Regular Interests, weighted on the basis of the Uncertificated Principal Balances of each such REMIC I Regular Interest immediately prior to such Distribution Date. The Net Rate Cap for the Class A Certificates and Class M Certificates will be adjusted to an effective rate reflecting the accrual of interest on an actual/360 basis. With respect to any Distribution Date and the Class B Certificates, a per annum rate equal to the weighted average of the Net Mortgage Rates on the then outstanding Mortgage Loans, weighted based on the Stated Principal Balances of such Mortgage Loans as of the related Due Date prior to giving effect to any reduction in the Stated Principal Balances of such Mortgage Loans on such Due Date; provided, however, for federal income tax purposes, a rate equivalent to the foregoing, expressed as the weighted average of the Uncertificated REMIC I Pass-Through Rates on the REMIC I Regular Interests, weighted on the basis of the Uncertificated Principal Balances of each such REMIC I Regular Interest immediately prior to such Distribution Date.

  • 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 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.

  • Interest Rate Cap means the establishment of an upper limit for a variable interest rate.

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