Subordinated Net WAC Rate. For any Distribution Date with respect to the Mezzanine Certificates, 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 (weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of each Loan Group as of the Due Date in the month preceding the month of such Distribution Date (adjusted for principal payments distributed on a prior Distribution Date) the current aggregate Certificate Principal Balance of the related Class A Certificates) of the Net WAC Pass-Through Rate for the Group I Certificates and the Net WAC Pass-Through Rate for the Group II Certificates. For federal income tax purposes, for any Distribution Date with respect to the regular interests in REMIC 3 the ownership of which is represented by the Mezzanine Certificates, the Subordinated Net WAC Rate shall be expressed as the weighted average (adjusted for the actual number of days elapsed in the related Interest Accrual Period) of the Uncertificated REMIC 2 Pass-Through Rates on (a) REMIC 2 Regular Interest 1SUB, subject to a cap and a floor equal to the Uncertificated REMIC 2 Pass-Through Rate for REMIC 2 Regular Interest 1GRP and (b) REMIC 2 Regular Interest 2SUB, subject to a cap and a floor equal to the Uncertificated REMIC 2 Pass-Through Rate for REMIC 2 Regular Interest 2GRP, weighted on the basis of the Uncertificated Principal Balance of each such REMIC 2 Regular Interest.
Subordinated Net WAC Rate. For any Distribution Date with respect to the Mezzanine Certificates and the Class B Certificates, 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 (weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of each Loan Group the current aggregate Certificate Principal Balance of the related Class A Certificates) of the Net WAC Pass-Through Rate for the Group I Certificates and the Net WAC Pass-Through Rate for the Group II Certificates.
Subordinated Net WAC Rate. For any Distribution Date and the Mezzanine Certificates and the Class B Certificates, a per annum rate equal to (i) the weighted average (weighted on the basis of Uncertificated Principal Balances) of (a) the Uncertificated REMIC 1 Pass-Through Rate for REMIC 1 Regular Interest LT1-1SUB for such Distribution Date (with such rate subject to a cap and a floor equal to the Uncertificated REMIC 1 Pass-Through Rate for REMIC 1 Regular Interest LT1-1GRP), and (b) the Uncertificated REMIC 1 Pass-Through Rate for REMIC 1 Regular Interest LT1-2SUB (with such rate subject to a cap and a floor equal to the Uncertificated REMIC 1 Pass-Through Rate for REMIC 1 Regular Interest LT1-2GRP), (ii) multiplied by a fraction the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Accrual Period.
Examples of Subordinated Net WAC Rate in a sentence
For any Distribution Date and the Mezzanine Certificates, the Subordinated Net WAC Rate.
More Definitions of Subordinated Net WAC Rate
Subordinated Net WAC Rate. For any Distribution Date with respect to the Mezzanine Certificates, 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 (weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of each Loan Group the current aggregate Certificate Principal Balance of the related Class A Certificates) of the Net WAC Pass-Through Rate for the Group I Certificates and the Net WAC Pass-Through Rate for the Group II Certificates. For federal income tax purposes, for any Distribution Date with respect to the regular interests in REMIC 3 the ownership of which is represented by the Mezzanine Certificates, the economic equivalent of such rate shall be expressed as the weighted average (adjusted for the actual number of days elapsed in the related Interest Accrual Period) of the Uncertificated REMIC 2 Pass-Through Rates on (a) REMIC 2 Regular Interest 1SUB, subject to a cap and a floor equal to the Uncertificated REMIC 2 Pass-Through Rate for REMIC 2 Regular Interest 1GRP and (b) REMIC 2 Regular Interest 2SUB, subject to a cap and a floor equal to the Uncertificated REMIC 2 Pass-Through Rate for REMIC 2 Regular Interest 2GRP, weighted on the basis of the Uncertificated Principal Balance of each such REMIC 2 Regular Interest.
Subordinated Net WAC Rate. For any Distribution Date, a per annum rate equal to the weighted average (weighted on the basis of Uncertificated Principal Balances) of:
Subordinated Net WAC Rate. For any Distribution Date and the Mezzanine Certificates and the Class B Certificates, a per annum rate equal to (i) the weighted average (weighted on the basis of Uncertificated Principal Balances) of (a) the Uncertificated REMIC 1 Pass-Through Rate for REMIC 1 Regular Interest LT1-1SUB for such Distribution Date (with such rate subject to a cap and a floor equal to the weighted average of the Adjusted Net Mortgage Rates of the Group I Mortgage Loans, weighted on the basis of the Stated Principal Balances thereof as of the Due Date in the month preceding such Distribution Date), and (b) the Uncertificated REMIC 1 Pass-Through Rate for REMIC 1 Regular Interest LT1-2SUB (with such rate subject to a cap and a floor equal to the weighted average of the Adjusted Net Mortgage Rates of the Group II Mortgage Loans, weighted on the basis of the Stated Principal Balances thereof as of the Due Date in the month preceding such Distribution Date), (ii) multiplied by a fraction the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Accrual Period.
Subordinated Net WAC Rate. For any Distribution Date (other than the first Distribution Date) with respect to the Mezzanine Certificates and the Class B Certificates, is a per annum rate equal to (a) the excess, if any, of (i) the weighted average (weighted on the basis of the results of subtracting from the aggregate principal balance of each Loan Group the sum of the current Certificate Principal Balances of the related Classes of the Class A Certificates) of (1) the Net WAC Rate with respect to the Group I Senior Certificates and (2) the Net WAC Rate with respect to the Group II Senior Certificates over (ii) the percentage equivalent of a fraction, (1) the numerator of which is the Swap Fee Amount, if any, for such Distribution Date multiplied by 12, and (2) the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Accrual Period. For federal income tax purposes, for any Distribution Date with respect to the regular interests in REMIC 4 the ownership of which is represented by the Mezzanine Certificates, the economic equivalent of such rate shall be expressed as a per annum rate equal to the Uncertificated REMIC 3 Pass-Through Rate for REMIC 3 Regular Interest SUB GRP for such Distribution Date multiplied by a fraction the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Accrual Period.
Subordinated Net WAC Rate. For any Distribution Date and the Mezzanine Certificates and the Class B Certificates, a per annum rate equal to the Uncertificated REMIC 3 Pass-Through Rate for REMIC 3 Regular Interest SUB GRP for such Distribution Date multiplied by a fraction the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Accrual Period.
Subordinated Net WAC Rate. For any Distribution Date and the Mezzanine Certificates, a per annum rate equal to (i) the weighted average (weighted on the basis of Uncertificated Principal Balances) of (a) the Uncertificated REMIC 2 Pass-Through Rate for REMIC 2 Regular Interest LT2-1SUB for such Distribution Date (with such rate subject to a cap and a floor equal to the Uncertificated REMIC 2 Pass-Through Rate for REMIC 2 Regular Interest LT2-1GRP), and (b) the Uncertificated REMIC 2 Pass-Through Rate for REMIC 2 Regular Interest LT2-2SUB (with such rate subject to a cap and a floor equal to the Uncertificated REMIC 2 Pass-Through Rate for REMIC 2 Regular Interest LT2-2GRP), (ii) multiplied by a fraction the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Accrual Period.
Subordinated Net WAC Rate. For any Distribution Date, a per annum rate equal to a weighted average of (i) the Weighted Average Adjusted Net Mortgage Rate of the Group 1 Mortgage Loans for such Distribution Date, and (ii) the Weighted Average Adjusted Net Mortgage Rate of the Group 2 Mortgage Loans for such Distribution Date, weighted on the basis of the respective Component Balance.