Subordinate Net Funds Cap. With respect to any Distribution Date, an amount equal to the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, that on any Distribution Date after which the aggregate Class Principal Amount of the Senior Certificates relating to any Mortgage Pool has been reduced to zero, such weighting shall be on the basis of the Pool Balance of each Mortgage Pool.
Subordinate Net Funds Cap. For any Distribution Date and the Class M-1, Class M-2, Class B-1 and Class B-2 Certificates, will be a per annum rate equal to a weighted average of (i) the Class A-1 Net Funds Cap and (ii) the Class A Group 2 Net Funds Cap for such Distribution Date, weighted on the basis of the Subordinate Group 1 Balance and Subordinate Group 2 Balance.
Subordinate Net Funds Cap. For each Distribution Date, the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap weighted on the basis of the Pool Subordinate Amount for each such Mortgage Pool.
Examples of Subordinate Net Funds Cap in a sentence
The Pool 1 Net Funds Cap, the Pool 2 Net Funds Cap or the Subordinate Net Funds Cap, as the context requires.
Any of the Group 1 Senior Net Funds Cap, the Group 2 Senior Net Funds Cap or the Subordinate Net Funds Cap, as applicable.
The Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificateholders will also be treated as holders of rights in an limited recourse interest rate cap contract written by the Class X Certificateholder whereby the Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificateholders will receive any excess of the Subordinate Net Funds Cap over the Adjusted Subordinate Net Funds Cap on their respective principal balances for such Distribution Date.
The Pool 1 Net Funds Cap, the Pool 2 Net Funds Cap, the Pool 3 Net Funds Cap or the Subordinate Net Funds Cap, as the context requires.
The Class M-1, Class M-2, Class B-1 and Class B-2 Certificateholders will also be treated as holders of rights in an limited recourse interest rate cap contract written by the Class X Certificateholder whereby the Class M-1, Class M-2, Class B-1 and Class B-2 Certificateholders will receive any excess of the Subordinate Net Funds Cap over the Adjusted Subordinate Net Funds Cap on their respective principal balances for such Distribution Date.
More Definitions of Subordinate Net Funds Cap
Subordinate Net Funds Cap. With respect to any Distribution Date will equal the weighted average of the Pool 1 Net Funds Cap, the Pool 2 Net Funds Cap and the Pool 3 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, that on or after the Distribution Date on which the Certificate Principal Amounts of the Senior Certificates related to any two Mortgage Pools have been reduced to zero, the Subordinate Net Funds Cap will equal the weighted average of the Pool 1 Net Funds Cap, the Pool 2 Net Funds Cap and the Pool 3 Net Funds Cap, weighted on the basis of the respective Pool Balances of the Mortgage Pools.
Subordinate Net Funds Cap. With respect to any Distribution Date will equal the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, that on or after the Distribution Date on which the Certificate Principal Amounts of the Senior Certificates related to any one of the Mortgage Pools have been reduced to zero, the Subordinate Net Funds Cap will equal the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the respective Pool Balances of the Mortgage Pools.
Subordinate Net Funds Cap. With respect to any Distribution Date, an amount equal to the weighted average of the Pool 1 Net Funds Cap, the Pool 2 Net Funds Cap and the Pool 3 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, with respect to the Class B Certificates, the Pool 1 Net Funds Cap, the Pool 2 Net Funds Cap and the Pool 3 Net Funds Cap will be calculated without regard to clause (b) in their respective definitions; and provided, further, on any Distribution Date after which the Class Principal Amounts of the Senior Certificates related to any two Mortgage Pools have been reduced to zero, such weighting shall be on the basis of the Pool Balance rather than the Pool Subordinate Amount of each Mortgage Pool.
Subordinate Net Funds Cap. With respect to any Distribution Date, an amount equal to the weighted average of the Pool 1 Net Funds Cap, the Pool 2 Net Funds Cap, the Pool 3 Net Funds Cap and the Pool 4 Net Funds Cap weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, that on any Distribution Date after which the Class Principal Amount related to any three Mortgage Pools have been reduced to zero, such weighting shall be on the basis of the Pool Balance of the remaining Mortgage Pool rather than the Pool Subordinate Amount of each Mortgage Pool.
Subordinate Net Funds Cap. With respect to any Distribution Date will equal the product of (a) the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool and (b) 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.
Subordinate Net Funds Cap. With respect to any Distribution Date will equal the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, with respect to the Class B2 Certificates, the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap will be calculated without regard to clause (b) in their respective definitions; and provided further, however, on any Distribution Date after which the Class Principal Amounts of the Senior Certificates related to either Mortgage Pool have been reduced to zero, such weighing shall be on the basis of the Pool Balance for each Mortgage Pool.
Subordinate Net Funds Cap. With respect to any Distribution Date will equal the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, that with respect to the Class B Certificates, the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap shall be calculated without regard to clause (b) in the definition hereof; provided, further, that on or after the Distribution Date on which the Class Principal Amount of the Class A1 Certificates and the Component Principal Amount of the A3(1) Component, with respect to Pool 1, or the Class Principal Amount of the Class A2 Certificates and the Component Principal Amount of the A3(2) Component, with respect to Pool 2 have been reduced to zero, the Subordinate Net Funds Cap will equal the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the respective Pool Balances of the Mortgage Pools.