Swap Adjustment Rate definition
Swap Adjustment Rate. For any Distribution Date and Loan Group, a fraction, (A) the numerator of which is the product of (i) the sum of (a) the Net Swap Payment payable to the Swap Counterparty under the Swap Contract with respect to such Distribution Date times a fraction, the numerator of which is equal to 360 and the denominator of which is equal to the actual number of days in the related Interest Accrual Period and (b) any Swap Termination Payment payable to the Swap Counterparty under the Swap Contract for such Distribution Date (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event), and (ii) a fraction, the numerator of which is the Interest Funds for that Loan Group and the denominator of which is the aggregate of the Interest Funds for both Loan Groups and (B) the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans in that Loan Group as of the Due Date in the prior calendar month (after giving effect to Principal Prepayments, the principal portion of Liquidation Proceeds and any Subsequent Recoveries received in the Prepayment Period related to that prior Due Date).
Swap Adjustment Rate. As to any Distribution Date and Loan Group, the product of (I) a fraction, expressed as a percentage, (A) the numerator of which is equal to the product of (1) the product of (i) the sum of (a) the Net Swap Payment and (b) any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) and (ii) a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the related Interest Accrual Period and (2) the Allocable Portion for that Loan Group and (B) the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans in that Loan Group as of the Due Date in the prior calendar month (after giving effect to principal prepayments received in the Prepayment Period related to that prior Due Date) and (II) 12.
Swap Adjustment Rate. For any Distribution Date, a fraction, the numerator of which is the sum of (a) the Net Swap Payment payable to the Swap Counterparty with respect to such Distribution Date times a fraction, the numerator of which is equal to 360 and the denominator of which is equal to the actual number of days in the related Interest Accrual Period and (b) any Swap Termination Payment payable to the Swap Counterparty for such Distribution Date (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event), and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the prior calendar month (after giving effect to Principal Prepayments, the principal portion of Liquidation Proceeds and any Subsequent Recoveries received in the Prepayment Period related to that prior Due Date).
More Definitions of Swap Adjustment Rate
Swap Adjustment Rate. For any Distribution Date, a fraction, the numerator of which is the sum of (a) the Net Swap Payment payable to the Swap Counterparty with respect to such Distribution Date times a fraction, the numerator of which is equal to 360 and the denominator of which is equal to the actual number of days in the related Accrual Period and (b) any Swap Termination Payment payable to the Swap Counterparty for such Distribution Date (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event), and the denominator of which is equal to the sum of (i) the Stated Principal Balance of the Mortgage Loans and (ii) the amount on deposit in the Pre-Funding Account as of such Distribution Date.
Swap Adjustment Rate. For each Interest Accrual Period and Distribution Date, a fraction, expressed as a percentage, (A) the numerator of which is equal to the sum of (a) the product of (i) the Net Swap Payments payable to the Swap Counterparty under either the Class A-1 Swap Contract or the Certificate Swap Contract with respect to that Distribution Date and (ii) a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the related Interest Accrual Period and (b) any Swap Termination Payments payable to the Swap Counterparty under either of the Class A-1 Swap Contract or the Certificate Swap Contract for that Distribution Date (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) and (B) the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the prior calendar month (after giving effect to Principal Prepayments received in the Prepayment Period related to that prior Due Date).
Swap Adjustment Rate. For each Distribution Date is a fraction, expressed as a percentage, (A) the numerator of which is equal the product of (i) the sum of (a) the Net Swap Payment and (b) any Swap Termination Payment and (ii) a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the related Interest Accrual Period and (B) the denominator of which is equal to the Pool Principal Balance as of the Due Date in the prior calendar month.
Swap Adjustment Rate. For each Distribution Date and Loan Group, a fraction, (A) the numerator of which is the sum of (a) the Net Swap Payment payable to the Swap Counterparty under the Swap Contract with respect to such Distribution Date times a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the related Interest Accrual Period and (b) any Swap Termination Payment payable to the Swap Counterparty under the Swap Contract for such Distribution Date (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event), and (B) the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans in that Loan Group as of the Due Date in the prior calendar month (after giving effect to Principal Prepayments, the principal portion of Liquidation Proceeds and any Subsequent Recoveries received in the Prepayment Period related to that prior Due Date).
Swap Adjustment Rate. For each Interest Accrual Period and Distribution Date, a fraction, expressed as a percentage, (A) the numerator of which is equal to the product of (i) the sum of (x) the Net Swap Payment payable to the Swap Counterparty with respect to that Distribution Date and (y) any Swap Termination Payments payable to the Swap Counterparty for that Distribution Date (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) and (ii) a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the related Interest Accrual Period and (B) the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the prior calendar month (after giving effect to Principal Prepayments received in the Prepayment Period related to that prior Due Date).