Swap Payment Rate definition

Swap Payment Rate. For any Distribution Date, a fraction, the numerator of which is any Net Swap Payment or Swap Termination Payment owed to the Swap Provider for such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans at the beginning of the related Due Period, multiplied by 12. Swap Provider: Morgan Stanley Capital Services Inc., a Delaware corporation, and its sxxxxxxoxx xx xnterest.
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Swap Payment Rate. For any Distribution Date is a fraction expressed as a percentage, the numerator of which is any Net Swap Payment or Swap Termination Payment (other than any Defaulted Swap Termination Payment) owed to the Swap Counterparty for such Distribution Date, and the denominator of which is the Stated Principal Balance of the Mortgage Loans as of the first day of the related Due Period, multiplied by 12.
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Swap Payment Rate. Not Applicable.
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More Definitions of Swap Payment Rate

Swap Payment Rate. For any Distribution Date, a fraction, the numerator of which is any Net Swap Payment or Swap Termination Payment (other than a Defaulted Swap Termination Payment) owed to the Swap Provider for such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans at the beginning of the related Due Period, multiplied by 12. Swap Provider: Xxxxxx Xxxxxxx Capital Services Inc., a Delaware corporation, and its successors in interest.
Sample 1
Swap Payment Rate. For any Distribution Date, a fraction, the numerator of which is any Net Swap Payment or Swap Termination Payment (other than a Defaulted Swap Termination Payment) owed to the Swap Provider for such Distribution Date and the denominator of which is the sum of the aggregate Stated Principal Balance of the Mortgage Loans at the beginning of the related Due Period and the amount then on deposit in the Pre-Funding Account, multiplied by 12. Swap Provider: Morgan Stanley Capital Services Inc., a Delaware corporation, and its sxxxxxxoxx xx xnterest.
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Swap Payment Rate. With respect to any Distribution Date, a per annum rate equal to the quotient of (i) the product of (a) Net Swap Payment or Swap Termination Payment (other than a Defaulted Swap Termination Payment) owed to the Swap Counterparty for such Distribution Date multiplied by (b) 12, divided by (ii) the aggregate of the Stated Principal Balances of the Mortgage Loans as of the first day of the related Due Period, adjusted to reflect prepayments received after the first Day of the related Due Period that were distributed on the immediately preceding Distribution Date.
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Swap Payment Rate. For any Distribution Date the Swap Payment Rate is a fraction, the numerator of which is any Net Swap Payment or Swap Termination Payment owed to the Swap Provider for such Distribution Date and the denominator of which is the Stated Principal Balance of the mortgage loans at the beginning of the related Due Period plus amounts in the Pre-Funding Account, multiplied by 12. Swap Provider: IXIS Financial Products Inc., a Delaware corporation, and any successor thereto. Swap Termination Payment: A termination payment required to be made by either the Supplemental Interest Trust or the Swap Provider pursuant to the Interest Rate Swap Agreement as a result of termination of the Interest Rate Swap Agreement.
Sample 1
Swap Payment Rate. For any Distribution Date, a fraction, the numerator of which is any net swap payment or swap termination payment owed to the Swap Counterparty for such Distribution Date and the denominator of which is the sum of the scheduled principal balance of the Mortgage Loans at the beginning of the related Due Period plus amounts in the Prefunding Accounts, multiplied by 12. This material is not a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. This material was not prepared by the Morgan Stanley research department. Please refer to important informxxxxx axx xxxxifications at the end of this material. -------------------------------------------------------------------------------- MORGAN STANLEY Juxx 00, 0000 Xxcuritized Products Group [MORGAN STANLEY LOGO] -------------------------------------------------------------------------------- Interest Distributions on On each Distribution Date and after payments of the Certificates: servicing, certificate insurer, trustee fees and other expenses, including any net swap payments and any swap termination payment owed to the Swap Counterparty, interest distributions from the Interest Remittance Amount will be allocated as follows:
Sample 1
Swap Payment Rate. For any Distribution Date the Swap Payment Rate is a fraction, the numerator of which is any Net Swap Payment or Swap Termination Payment (other than a Defaulted Swap Termination Payment) owed to the Swap Provider for such Distribution Date and the denominator of which is the Stated Principal Balance of the mortgage loans at the beginning of the related Due Period plus amounts in the Pre-Funding Account, multiplied by 12. Swap Provider: IXIS Financial Products Inc., a Delaware corporation, and any successor thereto. Swap Termination Payment: A termination payment required to be made by either the Supplemental Interest Trust or the Swap Provider pursuant to the Interest Rate Swap Agreement as a result of termination of the Interest Rate Swap Agreement.
Sample 1

Related to Swap Payment Rate

  • Swap Payment Date For so long as the Swap Agreement is in effect or any amounts remain unpaid thereunder, the Business Day immediately preceding each Distribution Date.

  • Payment Rate means the rate (expressed in £/MWh, £/Mvarh or £/MWs2h as appropriate ) for the calculation of payments for DS3 System Services as specified in the Charging Statement;

  • Floating Swap Payment With respect to any Distribution Date, an amount equal to the product of (i) Swap LIBOR, (ii) the notional amount for that Distribution Date set forth in the Interest Rate Swap Agreement and (iii) a fraction, the numerator of which is the actual number of days elapsed from and including the previous Distribution Date to but excluding the current Distribution Date (or, for the first Distribution Date, the actual number of days elapsed from the Closing Date to but excluding the first Distribution Date), and the denominator of which is 360.

  • Interest Rate Cap Payment (a) With respect to the Group II Class A Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 35 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Group II Class A Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class A-2, Class A-3 and Class A-4 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; (b) with respect to the Class M Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class M-1, Class M-2 and Class M-3 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; and (c) with respect to the Class B Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class B Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class B-1, Class B-2 and Class B-3 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date.

  • Net Swap Payment With respect to each Distribution Date, the net payment required to be made pursuant to the terms of the Swap Agreement by either the Swap Provider or the Swap Administrator, which net payment shall not take into account any Swap Termination Payment.

  • Monthly Payment Rate means, for any Monthly Period, a fraction (expressed as a percentage), (a) the numerator of which is the Principal Collections during such Monthly Period, and (b) the denominator of which is the Combined Outstanding Principal Balances as of the beginning of such Monthly Period.

  • Fixed Swap Payment With respect to any Distribution Date, a fixed amount equal to the related amount set forth in the Interest Rate Swap Agreement.

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • Floating Interest Rate means the variable annual interest rate calculated for each Interest Adjustment Period so as to equal the Index Rate for such Interest Adjustment Period (truncated at the 5th decimal place if necessary) plus the Margin. However, in no event will the Floating Interest Rate exceed the Capped Interest Rate.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Prepayment Rate means the bond equivalent yield (in the secondary market) on the United States Treasury Security that as of the Prepayment Rate Determination Date has a remaining term to maturity closest to, but not exceeding, the remaining term to the Maturity Date, as most recently published in the "Treasury Bonds, Notes and Bills" section in The Wall Street Journal as of the date of the related tender of the payment. If more than one issue of United States Treasury Securities has the remaining term to the Maturity Date referred to above, the "Prepayment Rate" shall be the yield on the United States Treasury Security most recently issued as of such date. If the publication of the Prepayment Rate in The Wall Street Journal is discontinued, Lender shall determine the Prepayment Rate on the basis of "Statistical Release H.15(519), Selected Interest Rates," or any successor publication, published by the Board of Governors of the Federal Reserve System, or on the basis of such other publication or statistical guide as Lender may reasonably select. "PREPAYMENT RATE DETERMINATION DATE" shall mean the date which is five (5) Business Days prior to the prepayment date.

  • Note Interest Rate means a per annum rate equal to 0.02% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

  • Class A-2a Interest Rate means 0.45% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Delayed Payment Interest Rate means the national average annual rate of interest payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of The New York Times preceding the Executive’s separation from service.

  • Daily Interest Rate means an amount calculated by dividing the interest rate payable to a Lender on a Loan (as set forth in subsection 2.2) as of each calendar day by three hundred sixty (360).

  • Class A-1 Interest Rate means 0.48000% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).

  • Lower-Tier Interest Rate As described in the Preliminary Statement.

  • Class A-3 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Net Interest Rate means with respect to any Note, the Interest Rate for such Note minus the Servicing Fee Rate applicable to such Note.

  • Late Payment Rate As defined in the Insurance Agreement.

  • Mid-Swap Rate means, in relation to a Reset Determination Date and subject to Condition 3(b)(ii), either:

  • Capped Interest Rate is defined in the Note, if applicable.

  • 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).