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Net WAC definition

Net WACWith respect to any Distribution Date and for any Mortgage Group, the weighted average Net Mortgage Rate for the Mortgage Loans in such Mortgage Group calculated based on the respective Net Mortgage Rates and the Stated Principal Balances of such Mortgage Loans as of the preceding Distribution Date (or, in the case of the first Distribution Date, as of the Cut-off Date).
Net WACWith respect to any Distribution Date, the weighted average of the Net Loan Rates of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs (or, in the case of the first Distribution Date, as of the Cut-Off Date), weighted on the basis of the related Stated Principal Balances at the beginning of the related Due Period.
Net WAC. As to any Distribution Date, a per annum rate equal to the weighted average of the Net Mortgage Interest Rates of the Mortgage Loans (based on the Scheduled Principal Balances of the Mortgage Loans on the first day of the month preceding the month in which such Distribution Date occurs).

Examples of Net WAC in a sentence

  • The Pass-Through Rate applicable to the calculation of interest payable with respect to this Certificate on any Distribution Date shall be the lesser of (x) the related Formula Rate for such Distribution Date and (y) the Net WAC Pass-Through Rate for such Distribution Date.

  • The Pass-Through Rate applicable to the calculation of interest payable with respect to this Certificate on any Distribution Date shall equal a rate per annum equal to the lesser of (i) the related Formula Rate for such Distribution Date and (ii) the related Net WAC Rate for such Distribution Date.

  • The Pass-Through Rate applicable to the calculation of interest payable with respect to this Certificate on any Distribution Date shall equal a rate per annum equal to the lesser of (i) the related Formula Rate for such Distribution Date and (ii) the related Net WAC Pass-Through Rate for such Distribution Date.

  • Amounts on deposit in the Net WAC Rate Carryover Reserve Account shall remain uninvested.

  • Interest earned on such investment shall be deposited into the Net WAC Rate Carryover Reserve Account.


More Definitions of Net WAC

Net WAC is used herein with reference to only the One-Month LIBOR Loans or only the Six-Month LIBOR Loans, such weighted average shall be computed with reference solely to the Mortgage Loans in the relevant group.
Net WACWith respect to any Distribution Date, a per annum rate equal to 12 times the quotient obtained by dividing (x) the total scheduled interest based on the Net Mortgage Rates in effect on the related Due Date, by (y) the aggregate Stated Principal Balance of the Mortgage Loans as of the preceding Distribution Date.
Net WAC. As to any Distribution Date, the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the Due Date of the month preceding the month of such Distribution Date, weighted on the basis of their outstanding Stated Principal Balances (after giving effect to the Scheduled Payments due on or before such Due Date and Principal Prepayments received prior to such Due Date) at such time. When the term "Net WAC" is used herein with reference to only the One-Month LIBOR Loans or only the Six-Month LIBOR Loans, such weighted average shall be computed with reference solely to the Mortgage Loans in the relevant group.
Net WAC. The weighted average of the Net Mortgage Rates on the Mortgage Loans weighted on the basis of the respective Stated Principal Balance of each such Mortgage Loan as of the beginning of the Due Period immediately preceding such Distribution Date.
Net WACWith respect to each Mortgage Pool and any Distribution Date, the weighted average of Net Mortgage Rates of the Mortgage Loans in the related Mortgage Pool at the beginning of the related Due Period, weighted on the basis of their Scheduled Principal Balances. Non-AP Percentage: Not applicable.
Net WAC. As to any Distribution Date, the weighted average of the Net Mortgage Rates of the Mortgage Loans (or any Mortgage Pool) as of the Due Date of the month preceding the month of such Distribution Date, weighted on the basis of their outstanding Stated Principal Balances (after giving effect to the Scheduled Payments due on or before such Due Date and Principal Prepayments received prior to such Due Date) at such time. Net WAC Shortfall: Not applicable.
Net WACWith respect to the first Distribution Date only, the product of (i) the weighted average of the Net Loan Rates of the Initial Mortgage Loans as of the Initial Cut-off Date, weighted on the basis of their Stated Principal Balances on such date, multiplied by (ii) the quotient of (a) the aggregate of Stated Principal Balances of the Initial Mortgage Loans on the Initial Cut-off Date divided by (b) the sum or the aggregate of the Stated Principal Balances of the Initial Mortgage Loans as of the Initial Cut-off Date and the amount on deposit in the Prefunding Account on such date. With respect to each succeeding Distribution Date, the weighted average of the Net Loan Rates of the Mortgage Loans as of the first day of the related Due Period, weighted on the basis of their Stated Principal Balances at the beginning of the related Due Period.