Net WAC Cap definition

Net WAC Cap. The Group 1 Net WAC Cap, the Group 2 Net WAC Cap or the Subordinate WAC Cap, as applicable.
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Net WAC Cap. For any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs.
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Net WAC Cap. For the LIBOR Certificates and any Distribution Date is equal to the product of (x) the excess, if any, of (a) the Net WAC for such Distribution Date over (b) the Net Swap Rate for such Distribution Date and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period.
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Examples of Net WAC Cap in a sentence

  • For federal income tax purposes, the pass-through rate on each REMIC Regular Interest (other than the Uncertificated Class C Interest and the Class UT-IO Interest) and on the sole class of residual interest in the Upper Tier REMIC shall be subject to a cap equal to the Upper Tier REMIC Net WAC Cap.

  • The Holders of the Class X Certificates shall be treated as the owners of the Net WAC Cap Account for federal tax purposes.

  • The Net WAC Cap Account 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.

  • Any investment earnings on the Net WAC Cap Account will be treated as owned by the Holders of the Class X Certificates and will be taxable to the Holders of the Class X Certificates.

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


More Definitions of Net WAC Cap

Net WAC Cap. With respect to any Distribution Date, and for any Class of Offered Certificates, a rate per annum equal to the excess, if any, of (a) the weighted average of the Net Coupon Rates on the Home Equity Loans as of the beginning of the related Remittance Period over (b) the Swap Expense Fee Rate for that Distribution Date.
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Net WAC Cap. As of any Distribution Date, the Net Weighted Average Mortgage Interest Rate less the product of (a) 4.00% per annum and (b) a fraction, the numerator of which is the Class A-IO Notional Balance for that Distribution Date and the denominator of which is the sum of (i) the Aggregate Principal Balance of the Mortgage Loans as of the beginning of the related Due Period and (ii) the Pre-Funding Amount, if any, immediately prior to such Distribution Date (net of the Pre-Funding Earnings).
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Net WAC Cap. For any Distribution Date and any Class of LIBOR Certificates, the product of (i) the Net WAC and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period for such Certificates.
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Net WAC Cap. Any of the Group 1 Net WAC Cap, Class A-2A Net WAC Cap, Class A-2B Net WAC Cap or Subordinate Net WAC Cap, as applicable.
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Net WAC Cap. For any Distribution Date, the Weighted Average Adjusted Net Mortgage Rate of the Mortgage Loans for that Distribution Date.
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Net WAC Cap. Any of the Senior Net WAC Cap or Subordinate Net WAC Cap, as applicable.
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Net WAC Cap. As of any Distribution Date, a per annum rate equal to:
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