Pool 2 Maximum Interest Rate definition

Pool 2 Maximum Interest Rate. For the Group 2 Senior Certificates, and for each Distribution Date on or before the Distribution Date on which the aggregate Class Principal Amounts of the Group 1 Senior Certificates have been reduced to zero, an annual rate equal to (a) the product, expressed as a percentage, of (1) the amount, if any, by which the weighted average of the excess of the maximum “lifetime” Mortgage Rates, as specified in the related Mortgage Notes for the Pool 2 Mortgage Loans exceeds the applicable weighted average Aggregate Expense Rate and (2) 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; plus (b) the product, expressed as a percentage, of (1) the sum of (x) the amount of any Net Swap Payment owed by the Swap Counterparty on the related Swap Payment Date allocable to Pool 2 (based on the applicable Pool Percentage) and (y) any Interest Rate Cap Amount owed by the Cap Counterparty on the related Interest Rate Cap Payment Date allocable to Pool 2 (based on the applicable Pool Percentage) divided by the Pool Balance for Pool 2 as of the beginning of the related Collection Period and (2) a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the Accrual Period related to such Distribution Date; minus
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Pool 2 Maximum Interest Rate. For any Distribution Date, an annual rate equal to the Pool 2 Net Funds Cap for such Distribution Date if the Optimal Interest Remittance Amount was computed by reference to the weighted average of the excess of the Maximum Rates for the Pool 2 Mortgage Loans over the General Servicing Fee Rate.
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Pool 2 Maximum Interest Rate. For any Distribution Date, an annual rate equal to the sum of (a) the Pool 2 Net Funds Cap for such Distribution Date if the Optimal Interest Remittance Amount for Pool 2 was computed by reference to the weighted average of the excess of the Maximum Rates for the Pool 2 Mortgage Loans over the General Servicing Fee Rate and any mortgage insurance premium rate, as applicable, and (b) the product, expressed as a percentage, of (1) the amount of any Net Swap Payment or Swap Termination Payment owed by the Swap Counterparty on the related due date divided by the Pool Balance for Pool 2 as of the beginning of the related Collection Period and (2) a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the Accrual Period related to such Distribution Date.
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More Definitions of Pool 2 Maximum Interest Rate

Pool 2 Maximum Interest Rate. For any Distribution Date, an annual rate equal to (a) the Pool 2 Net Funds Cap for such Distribution Date if the Optimal Interest Remittance Amount was computed by reference to the weighted average of the excess of the Maximum Rates for the Pool 2 Mortgage Loans over the Servicing Fee Rate; plus (b) the product, expressed as a percentage, of (1) the amount of any Pool 2 Swap Allocation Payment Amount owed by the Swap Counterparty on the related due date allocable to Pool 2 divided by the Pool Balance for Pool 2 as of the beginning of the related Collection Period and (2) a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the Accrual Period related to such Distribution Date.
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Pool 2 Maximum Interest Rate. With respect to any Distribution Date, an annual rate equal to the sum of (a) the Pool 2 Net Funds Cap for such Distribution Date if the Optimal Interest Remittance Amount was computed by reference to the weighted average of the excess of the Maximum Rates for the Pool 2 Mortgage Loans over the related Servicing Fee Rate and any mortgage insurance premium rate, as applicable, and (b) the product, expressed as a percentage, of (1) the amount of any Net Swap Payment or Swap Termination Payment owed by the Swap Counterparty together with any proceeds received under the Interest Rate Cap Agreement on the related due date divided by the Pool Balance for Pool 2 as of the beginning of the related Collection Period and (2) a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the Accrual Period related to such Distribution Date.
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Pool 2 Maximum Interest Rate. For any Distribution Date, an annual rate equal to (a) the Pool 2 Net Funds Cap for such Distribution Date if the Optimal Interest Remittance Amount was computed by reference to the weighted average of the excess of the Maximum Rates for the Pool 2 Mortgage Loans over the Servicing Fee Rate; plus (b) the product, expressed as a percentage, of (1) the amount of any Pool 2 Swap Allocation Payment Amount owed by the Swap Counterparty on the related Swap Payment Date allocable to Pool 2 (based on the applicable Swap Allocation Percentage) divided by the Pool Balance for Pool 2 as of the beginning of the related Collection Period and (2) a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the Accrual Period related to such Distribution Date; for the purposes of the Class 2-A1 Certificates, clause (2) will always be 12.
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Related to Pool 2 Maximum Interest Rate

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the 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.

  • Class E Interest Rate means 4.99% per annum (computed on the basis of a 360-day year of twelve 30-day months).

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

  • Class A-1 Interest Rate means 0.75000% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Weighted Average Net Mortgage Interest Rate As to any Distribution Date, a rate per annum equal to the average, expressed as a percentage of the Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date, weighted on the basis of the respective Scheduled Principal Balances of such Mortgage Loans.

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • 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.

  • 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.

  • Weighted Average Interest Rates means, with respect to any Outstanding Notes of a class or tranche of the MBNAseries, or of all of the Outstanding Notes of the MBNAseries, on any date, the weighted average (weighted based on the Outstanding Dollar Principal Amount of the related Notes on such date) of the following rates of interest:

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

  • Applicable Interest Rate means, (i) with respect to each Revolving Credit Advance and Term Loan Advance, the Eurodollar-based Rate or the Base Rate, and (ii) with respect to each Swing Line Advance, the Base Rate or, if made available to the Borrower by the Swing Line Lender at its option, the Quoted Rate, in each case as selected by the Borrower from time to time subject to the terms and conditions of this Agreement.

  • Class A-2a Interest Rate means [●]% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Note Interest Rate means a per annum rate equal to 0.06% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

  • Class A-3 Interest Rate means 1.49% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A Interest Rate has the meaning assigned to such term in the Indenture.

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

  • Daily Interest Rate means an amount calculated by dividing the interest rate payable to a Lender on a Loan (as set forth in subsection 2.2) as of each calendar day by three hundred sixty (360).

  • Component Interest Rate Not applicable.

  • Class A-2b Interest Rate means LIBOR + 0.16% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Adjusted Net Maximum Mortgage Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed-Rate Mortgage Loan) as of the first day of the month preceding the month in which the related Distribution Date occurs minus the sum of (i) the Trustee Fee Rate and (ii) the Servicing Fee Rate.

  • Weighted Average Net Mortgage Rate With respect to any Distribution Date, the weighted average of the applicable Net Mortgage Rates of the Mortgage Loans as of the first day of the related Due Period, weighted on the basis of their respective Stated Principal Balances as of the first day of such Due Period (after giving effect to any payments received during any applicable grace period).

  • Maximum Mortgage Rate With respect to each Adjustable Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Mortgage Rate thereunder.

  • Base Interest Rate means a rate of interest based on the LIBOR-Rate. "Base Interest Rate Loan" means amounts outstanding under this note that bear interest at a Base Interest Rate. "Base Rate Maturity Date" means the last day of the Interest Period with respect to principal outstanding under a Base Interest Rate Loan. "Business Day" means a day on which Bank is open for business for the funding of corporate loans, and, with respect to the rate of interest based on the LIBOR Rate, on which dealings in U.S. dollar deposits outside of the United States may be carried on by Bank. "Interest Period" means with respect to funds bearing interest at a rate based on the LIBOR Rate, any calendar period of one, three, six, nine or twelve months. In determining an Interest Period, a month means a period that starts on one Business Day in a month and ends on and includes the day preceding the numerically corresponding day in the next month. For any month in which there is no such numerically corresponding day, then as to that month, such day shall be deemed to be the last calendar day of such month. Any Interest Period which would otherwise an on a non-Business Day shall end on the next succeeding Business Day unless that is the first day of a month, in which event such Interest Period shall end on the next preceding Business Day. "LIBOR Rate" means a per annum rate of interest (rounded upward, if necessary, to the nearest 1/100 of 1%) at which dollar deposits, in immediately available funds and in lawful money of the United Sates would be offered to Bank, outside of the United Sates, for a term coinciding with the Interest Period selected by Debtor and for an amount equal to the amount of principal covered by Debtors' interest rate selection, plus Bank's costs, including the costs, if any, of reserve requirements. "Origination Date" means the first day of the Interest Period. "Reference Rate" means the rate announced by Bank from time to time at its corporate headquarters as its Reference Rate. The Reference Rate is an index rate determined by Bank from time to time as a means of pricing certain extensions of credit and is neither directly tied to any external rate of interest or index nor necessarily the lowest rate of interest or index nor necessarily the lowest rate of interest charged by Bank at any given time.

  • Maximum Net Mortgage Rate With respect to any adjustable rate Mortgage Loan and any date of determination, the Maximum Mortgage Rate minus the sum of (i) the Subservicing Fee Rate and (ii) the Servicing Fee Rate. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.