Swap Expense Fee Rate. With respect to each Distribution Date, a per annum rate, equal to the product of (x) the sum of (i) any Net Swap Payment owed to the Swap Provider for that Distribution Date and (ii) any Swap Termination Payment for that Distribution Date (other than any Swap Termination Payment resulting from a Swap Provider Trigger Event) payable by the Supplemental Interest Trust, and (y) 12 divided by the aggregate Loan Balance of the Home Equity Loans as of the first day of the related Remittance Period.
Swap Expense Fee Rate. With respect to any Distribution Date, an amount, expressed as a per annum rate, equal to the sum of (a) the product of (i) the Net Swap Payment made to the Swap Provider divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the first day of the related Due Period (or, in the case of the first Distribution Date, the Cut-off Date, adjusted, except in the case of the first Distribution Date, to reflect unscheduled principal payments made thereafter during the Prepayment Period that includes such first day of the related Due Period) and (ii) 12 and (b) the product of (i) any Swap Termination Payment (other than a Swap Termination Payment resulting from a Swap Provider Trigger Event) made to the Swap Provider divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the first day of the related Due Period (or, in the case of the first Distribution Date, the Cut-off Date, adjusted, except in the case of the first Distribution Date, to reflect unscheduled principal payments made thereafter during the Prepayment Period that includes such first day of the related Due Period) and (ii) 12.
Swap Expense Fee Rate. With respect to each Distribution Date, an amount, expressed as a per annum rate, equal to the product of 12 and a fraction, the numerator of which is the sum of any Net Swap Payment and any Swap Termination Payment (other than any Swap Termination Payment resulting from a Swap Provider Trigger Event) owed to the Swap Provider for such Distribution Date and the denominator of which is the outstanding Stated Principal Balances of the Mortgage Loans as of the first day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period)
More Definitions of Swap Expense Fee Rate
Swap Expense Fee Rate. With respect to any Distribution Date, an amount, expressed as a per annum rate, equal to the sum of (a) the product of (i) the Net Swap Payment made to the Swap Provider divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after taking into account any Principal Prepayments received during the related Prepayment Period) and (ii) 12 and (b) the product of (i) any Swap Termination Payment (other than a Swap Termination Payment resulting from a Swap Provider Trigger Event) made to the Swap Provider divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after taking into account any Principal Prepayments received during the related Prepayment Period) and (ii) 12.
Swap Expense Fee Rate. For any Distribution Date, a fraction expressed as a percentage, (i) the numerator of which is equal to the product of twelve multiplied by any Net Swap Payment and Swap Termination Payment (to the extent not paid by the Supplemental Interest Trust Trustee from any upfront payment received pursuant to any replacement interest rate swap agreement that may be entered into by the Supplemental Interest Trust Trustee and only if such Swap Termination Payment was not due to a Swap Provider Trigger Event with respect to the Swap Provider) made to the Swap Provider and (ii) the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans as of the first day of the related Remittance Period, adjusted to reflect unscheduled principal payments made thereafter that were included in the Principal Distribution Amount on the immediately preceding Distribution Date. Swap LIBOR: One-Month LIBOR as determined pursuant to the Swap Agreement.
Swap Expense Fee Rate. For any Distribution Date, is an amount expressed as a per annum rate, equal to the sum of (a) the product of (i) the Net Swap Payment made to the Swap Provider divided by the aggregate Principal Balance of the Mortgage Loans and (ii) 12 and (b) the product of (i) any Swap Termination Payment (other than a Swap Termination Payment resulting from a Swap Provider Trigger Event) made to the Swap Provider divided by the aggregate Principal Balance of the Mortgage Loans and (ii) 12.
Swap Expense Fee Rate. With respect to each Payment Date, a per annum rate, equal to the product of (x) the sum of (i) any Net Swap Payment owed to the Swap Provider for that Payment Date and (ii) any Swap Termination Payment for that Payment Date (other than any Swap Termination Payment resulting from a Swap Provider Trigger Event) payable by the Securities Administrator on behalf of the trust, and (y) 12 divided by the aggregate Stated Principal Balance of the Mortgage Loans as of the first day of the related Due Period, adjusted to reflect unscheduled payments of principal received thereon after such date and included in the Principal Distribution Amount on the immediately preceding Payment Date.
Swap Expense Fee Rate. With respect to any Distribution Date, a per annum rate equal to the sum of (x) the product of (i) any Net Swap Payment owed to the Swap Provider divided by the outstanding aggregate Stated Principal Balance of the Mortgage Loans and (ii) 12 and (y) the product of (i) any Swap Termination Payment (other than any Swap Termination Payment resulting from a Swap Provider Trigger Event) payable by the Trust, divided by the outstanding Stated Principal Balance of the Mortgage Loans and (ii) 12.
Swap Expense Fee Rate. With respect to each Distribution Date, an amount, expressed as a per annum rate, equal to the sum of (i) the product of (a) the Net Swap Payment owed to the Swap Provider, if any, divided by the aggregate principal balance of the mortgage loans and (b) 12, (ii) the product of (a) the Swap Termination Payment (other than any Swap Termination Payment due to a Swap Provider Trigger Event) owed to the Swap Provider, if any, divided by the aggregate principal balance of the mortgage loans and (b) 12.
Swap Expense Fee Rate. With respect to any Distribution Date, an amount, expressed as a per annum rate, equal to the sum of (a) the product of (i) the Net Swap Payment made to the Swap Provider and (ii) 12 and (b) the product of (i) any Swap Termination Payment (other than a Swap Termination Payment resulting from a Swap Provider Trigger Event) made to the Swap Provider and (ii) 12 divided by (x) for purposes of calculating the Net WAC Rate for any Distribution Date and the Class A-4 Certificates and Class M-9 Certificates, the aggregate Certificate Principal Balance of the Class A-4 Certificates and Class M-9 Certificates immediately prior to such Distribution Date and (y) for purposes of calculating the Maximum Cap Rate for any Distribution Date, the aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs.