Subordinate Adjusted Net WAC definition

Subordinate Adjusted Net WAC. For any Distribution Date, the weighted average of the Group 1 Adjusted Net WAC and the Group 2 Adjusted Net WAC for such Distribution Date, weighted on the basis of the Subordinate Component for Loan Group 1 and Loan Group 2 for such Distribution Date.
Sample 1Sample 2Sample 3
Subordinate Adjusted Net WAC means for any Distribution Date, a per annum rate not less than zero, expressed as a percentage, equal to the weighted average of the Group M Adjusted Net WAC and Group H Adjusted Net WAC for such Distribution Date, weighted based on the product of the aggregate Unpaid Principal Balance of each Mortgage Group as of the preceding Distribution Date multiplied by the Subordinate Percentage for the related Mortgage Group for such Distribution Date.
Sample 1Sample 2Sample 3
Subordinate Adjusted Net WAC. With respect to any Distribution Date, the weighted average of the Group 1 Adjusted Net WAC and Group 2 Adjusted Net WAC for such Distribution Date, weighted on the basis of the Subordinate Component for Loan Group 1 and Loan Group 2 for such Distribution Date. For purposes of the REMIC Provisions, for any Distribution Date, the Subordinate Adjusted Net WAC shall also equal the product of (i) 2 multiplied by (ii) the weighted average of the interest rates on the MT-ZB and MT-YB Interests weighted on the basis of their principal balances after taking into account distributions on such Distribution Date and computed for this purpose by subjecting the interest rate on the MT-YB Interest to a cap of 0.00%.
Sample 1

Examples of Subordinate Adjusted Net WAC in a sentence

  • The nondisabled worker remains employed in his or her current posi- tion, and the chance to move into a more desirable position is deferred rather than lost.

  • The Class Coupon of the Class B-IO Certificates with respect to each Distribution Date will be a per annum rate equal to the excess, if any, of (i) the Subordinate Adjusted Net WAC for such Distribution Date over (ii) the weighted average of the Class Coupons of the Class M-1, Class M-2 and Class B Certificates (weighted based on the outstanding Class Principal Amounts of such Classes of Certificates).

  • The Class Coupon of the Class B-IO Certificates with respect to each Distribution Date will be a per annum rate equal to the excess, if any, of (i) the Subordinate Adjusted Net WAC for such Distribution Date over (ii) the weighted average of the Class Coupons of the Class M-1, Class M-2 and Class B Certificates for such Distribution Date (weighted based on the outstanding Class Principal Amounts of such Classes of Certificates immediately following the preceding Distribution Date).


More Definitions of Subordinate Adjusted Net WAC

Subordinate Adjusted Net WAC. With respect to any Distribution Date, the weighted average of the Subgroup 2A Adjusted Cap Rate, the Subgroup 2B Adjusted Cap Rate and the Subgroup 2C Adjusted Cap Rate (without regard to the adjustment applicable to the Class 2-A2 Certificates)for such Distribution Date, weighted on the basis of the Subordinate Component for Subgroup 2A, Subgroup 2B and Subgroup 2C for such Distribution Date. For purposes of the REMIC Provisions and for computing the interest rate on the Class 2-X and Class 2-PO Certificates, the Subordinate Net WAC also equals the product of (i) 2 and (ii) the weighted average of the rates on the MT2-BZ and MT2-BY Interests, computed for these purposes by first subjecting the interest rate on the MT2-BY Interest to a cap of 0.00%, and weighted on the basis of their principal balances after taking into account distributions on the MT2-BZ and MT2-BY Interests on such Distribution Date.
Sample 1

Related to Subordinate Adjusted Net WAC

  • Subordinate Certificate Writedown Amount As to any Distribution Date, the amount by which (i) the sum of the Class Principal Amounts of all the Certificates (after giving effect to the distribution of principal and the application of Realized Losses in reduction of the Certificate Principal Amounts of the Certificates on such Distribution Date) exceeds (ii) the aggregate Scheduled Principal Balance of the Mortgage Loans for such Distribution Date.

  • Excess Overcollateralized Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date.

  • Subordinate Reduction Amount With respect to any Payment Date, the sum of the Scheduled Principal, Unscheduled Principal and Recovery Principal for such Payment Date, less the Senior Reduction Amount.

  • Portfolio Adjusted Yield means, with respect to any Monthly Period, the average of the percentages obtained for each of the three preceding Monthly Periods by subtracting the Base Rate for such Monthly Period from the Portfolio Yield for such Monthly Period.

  • Group II Loans The Mortgage Loans designated on the Mortgage Loan Schedule as Group II Loans.

  • Net WAC Rate With respect to any Distribution Date (and the related Accrual Period), a per annum rate equal to the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the related Collection Period (not including for this purpose Mortgage Loans for which prepayments in full have been received and distributed in the month prior to that Distribution Date).

  • Class A Floating Allocation means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Class A Adjusted Investor Interest as of the close of business on the last day of the preceding Monthly Period and the denominator of which is equal to the Adjusted Investor Interest as of the close of business on such day; provided, however, that, with respect to the first Monthly Period, the Class A Floating Allocation shall mean the percentage equivalent of a fraction, the numerator of which is the Class A Initial Investor Interest and the denominator of which is the Initial Investor Interest.

  • Group I Allocation Percentage With respect to any Distribution Date, the percentage equivalent of a fraction, the numerator of which is (i) the Group I Principal Remittance Amount for such Distribution Date, and the denominator of which is (ii) the Principal Remittance Amount for such Distribution Date.

  • Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.

  • Overcollateralized Amount As of any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date over (b) the aggregate of the Class Certificate Balances of the LIBOR Certificates as of such Distribution Date (after giving effect to the payment of the Principal Remittance Amount on such Certificates on such Distribution Date).

  • Loan Group 3 The Group 3 Mortgage Loans.

  • Floating Allocation Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Invested Amount as of the last day of the preceding Monthly Period (or with respect to the first Monthly Period, the Initial Invested Amount) and the denominator of which is the greater of (1) the sum of (x) the total amount of Principal Receivables in the Trust at the end of the day on such date (or with respect to the first Monthly Period, at the end of the day on the Closing Date) and (y) the principal amount on deposit in the Excess Funding Account as of the end of the day on such date and (2) the sum of the numerators used to calculate the Series Percentages (as such term is defined in the Agreement) with respect to Finance Charge Receivables or Defaulted Receivables, as applicable, for all Series then outstanding; provided, however, that with respect to any Monthly Period in which an Addition Date occurs and the Servicer need not make daily deposits of Collections into the Collection Account, the denominator in (x) above shall be the Average Principal Balance; provided further, however, that with respect to any Monthly Period in which an Addition Date occurs and the Servicer is required to make daily deposits of Collections into the Collection Account, the denominator in (x) above shall be (1) for the period from and including the first day of such Monthly Period to but excluding the related Addition Date, the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period and (2) for the period from and including the related Addition Date to and including the last day of such Monthly Period, the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date.

  • Subordinate Component Balance For any of Loan Group I, Loan Group II, Loan Group III, Loan Group IV or Loan Group V, as of any date of determination, the then outstanding aggregate Stated Principal Balance of the Mortgage Loans in that Loan Group minus the sum of the then outstanding aggregate Class Principal Balance of the related Classes of Class A Certificates.

  • Class A/B Interest Coverage Test means the test which will apply as of any Measurement Date occurring on and after the Determination Date immediately preceding the second Payment Date and which will be satisfied on such Measurement Date if the Class A/B Interest Coverage Ratio is at least equal to 120.0 per cent.