Pool Maximum Rate Cap. With respect to any Distribution Date and for the Class M Certificates, a per annum rate, adjusted by multiplying such rate by a fraction equal to 30 over the actual number of days in the related Interest Accrual Period, equal to the weighted average of the Group 1 Maximum Rate Cap and the Group 2 Maximum Rate Cap, weighted on the basis of the related Group Subordinate Amount.
Pool Maximum Rate Cap. As of any Distribution Date, a per annum rate, equal to the weighted average of the Group 1 Maximum Rate Cap, the Group 2 Maximum Rate Cap and the Group 3 Maximum Rate Cap, weighted on the basis of the related Group Subordinate Amount.
Pool Maximum Rate Cap. With respect to any Distribution Date and for the Class M and Class B Certificates, a per annum rate adjusted by multiplying such rate by a fraction equal to 30 over the actual number of days in the related Interest Accrual Period, equal to (i) on or prior to the Distribution Date in November 2007, the greater of (a) the weighted average of the Group 1 Maximum Rate Cap, the Group 2 Maximum Rate Cap and the Group 3 Maximum Rate Cap, weighted on the basis of the related Group Subordinate Amount and (b) 9.50% and (ii) on or after the Distribution Date in December 2007, the Pool Maximum Net Rate.
Examples of Pool Maximum Rate Cap in a sentence
The Certificate Interest Rate for the Class M-4 Certificates for each Distribution Date will be the least of (i) One-Month LIBOR as of the related LIBOR Determination Date plus the Class M-4 Certificate Margin, (ii) the Pool Maximum Rate Cap and (iii) the Pool Cap.
The Certificate Interest Rate for the Class M-5 Certificates for each Distribution Date will be the least of (i) One-Month LIBOR as of the related LIBOR Determination Date plus the Class M-5 Certificate Margin, (ii) the Pool Maximum Rate Cap and (iii) the Pool Cap.
The Certificate Interest Rate for the Class M-1 Certificates for each Distribution Date will be the least of (i) One-Month LIBOR as of the related LIBOR Determination Date plus the Class M-1 Certificate Margin, (ii) the Pool Maximum Rate Cap and (iii) the Pool Cap.
The Certificate Interest Rate for the Class M-3 Certificates for each Distribution Date will be the least of (i) One-Month LIBOR as of the related LIBOR Determination Date plus the Class M-3 Certificate Margin, (ii) the Pool Maximum Rate Cap and (iii) the Pool Cap.
The Certificate Interest Rate for the Class M-2 Certificates for each Distribution Date will be the least of (i) One-Month LIBOR as of the related LIBOR Determination Date plus the Class M-2 Certificate Margin, (ii) the Pool Maximum Rate Cap and (iii) the Pool Cap.
More Definitions of Pool Maximum Rate Cap
Pool Maximum Rate Cap. With respect to any Distribution Date and the LIBOR Certificates (a) a per annum rate (subject to adjustment based on the actual number of days elapsed in the related Interest Accrual Period) equal to the weighted average of the Net Rate Ceilings for the Adjustable Rate Mortgage Loans and the Net Mortgage Interest Rates for the Fixed Rate Mortgage Loans, weighted on the basis of the unpaid principal balance of the Mortgage Loans as of the first day of the related Collection Period minus (b) a percentage, expressed as a per annum rate (subject to an adjustment based on the actual number of days elapsed in the related Interest Accrual Period), calculated as a fraction, the numerator of which is the sum of (i) any Net Swap Payment owed by the Supplemental Interest Trust to the Swap Provider and (ii) any Swap Termination Payment (other than any Swap Termination Payment resulting from a Swap Provider Trigger Event) payable by the Supplemental Interest Trust to the Swap Provider and the denominator of which is the Pool Balance as of the first day of the related Collection Period plus (c) a percentage, expressed as a per annum rate, calculated as a fraction, the numerator of which is the sum of (i) any Net Swap Payment owed by the Swap Provider to the Supplemental Interest Trust, (ii) any Swap Termination Payment owed by the Swap Provider to the Supplemental Interest Trust and (iii) any Cap Payment owed by the Cap Provider to the Supplemental Interest Trust and the denominator of which is the Pool Balance as of the first day of the related Collection Period.
Pool Maximum Rate Cap. With respect to the Class M and Class B-1 Certificates and (i) any Distribution Date on or prior to the date on which the aggregate Principal Balance of the Class AI or Class AII Certificates has been reduced to zero, a per annum rate equal to the weighted average of the Group I Maximum Rate Cap and the Group II Maximum Rate Cap, weighted on the basis of the related Group Subordinate Amount and (ii) any Distribution Date after the date on which the aggregate Principal Balance of the Class AI or Class AII Certificates has been reduced to zero, a per annum rate equal to the weighted average of the Group I Maximum Rate Cap and the Group II Maximum Rate Cap, weighted on the basis of the unpaid principal balance of the Mortgage Loans for each Loan Group as of the first day of the related Collection Period.
Pool Maximum Rate Cap. With respect to any Distribution Date and for the Class M and Class B Certificates, a per annum rate (not less than zero) equal to (i) on or prior to the Distribution Date in June 2008, the greater of (a) the Pool Maximum Net Rate (subject to adjustments based on the actual number of days elapsed in the related Interest Accrual Period) and (b) 10% and (ii) after the Distribution Date in June 2008, the Pool Maximum Net Rate (subject to adjustments based on the actual number of days elapsed in the related Interest Accrual Period).
Pool Maximum Rate Cap. With respect to any Distribution Date and for the Class M Certificates, a per annum rate, adjusted by multiplying such rate by a fraction equal to 30 over the actual number of days in the related Interest Accrual Period, equal to the average of the Net Maximum Mortgage Interest Rates for the Adjustable-Rate Mortgage Loans and the Net Mortgage Interest Rates for the Fixed-Rate Mortgage Loans, weighted on the basis of the Principal Balances of the Mortgage Loans as of the first day of the related Collection Period, less the sum of (i) the product of (a) the Pass-Through Rate of the Class AIO Certificates for such Distribution Date and (b) a fraction, expressed as a percentage, the numerator of which is the Notional Amount of the Class AIO Certificates immediately prior to such Distribution Date and the denominator of which is the Pool Balance as of the first day of the related Collection Period and (ii) the product of (a) the Pass-Through Rate of the Class AIO-INV Certificates for such Distribution Date and (b) a fraction, expressed as a percentage, the numerator of which is the Notional Amount of the Class AIO-INV Certificates immediately prior to such Distribution Date and the denominator of which is the Pool Balance as of the first day of the related Collection Period.
Pool Maximum Rate Cap. As of any Distribution Date, (a) a per annum rate (subject to adjustment based on the actual number of days elapsed in the related Interest Accrual Period) equal to the Weighted Average Net Maximum Mortgage Interest Rates for the Mortgage Loans minus (b) a percentage, expressed as a per annum rate (subject to an adjustment based on the actual number of days elapsed in the related Interest Accrual Period), calculated as a fraction, the numerator of which is the sum of (i) any Net Swap Payment owed to the Swap Provider and (ii) any Swap Termination Payment owed to the Swap Provider (other than any Swap Termination Payment resulting from a Swap Provider Trigger Event), and the denominator of which is equal to the Pool Balance as of the first day of the related Collection Period plus (c) a percentage, expressed as a per annum rate (subject to adjustment based on the actual number of days elapsed in the related Interest Accrual Period), calculated as a fraction, the numerator of which is equal to any Net Swap Payment made by the Swap Provider and the denominator of which is equal to the Pool Balance as of the first day of the related Collection Period.
Pool Maximum Rate Cap. With respect to any Distribution Date and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class B-1, Class B-2 and Class B-3 Certificates, a per annum rate equal to the weighted average of the Group I Maximum Rate Cap and the Group II Cap, weighted on the basis of the related Group Subordinate Amount.
Pool Maximum Rate Cap. With respect to any Distribution Date and for the Class M Certificates, a per annum rate (not less than zero), adjusted by multiplying such rate by a fraction equal to 30 over the actual number of days in the related Interest Accrual Period, equal to the average of the Net Maximum Mortgage Interest Rates for the Group 1 Mortgage Loans and the Group 2 Mortgage Loans, weighted proportionally between the two loan groups in the proportion that (i) the difference between (a) the aggregate Principal Balance of the Group 1 Mortgage Loans as of the beginning of such Collection Period and (b) the Certificate Principal Balance of the Class A-1 Certificates before such Distribution Date, bears to (ii) the difference between (a) the aggregate Principal Balance of the Group 2 Mortgage Loans as of the beginning of such Collection Period and (b) the Certificate Principal Balance of the Class A-2 and Class A-3 Certificates before such Distribution Date.