Weighted Average Net Loan Rate definition
Weighted Average Net Loan Rate for any Collection Period means the average of the daily Net Loan Rate (specified in the Adoption Annex) for each Mortgage Loan (assuming that each Mortgage Loan is fully indexed) for each day during the related Billing Cycle, weighted on the basis of the daily average of the Asset Balances outstanding for each day in the Billing Cycle for each Mortgage Loan as determined by the Master Servicer in accordance with the Master Servicer's normal servicing procedures.
Weighted Average Net Loan Rate. As to any Collection Period, the average of the daily Net Loan Rate for each Mortgage Loan for each day during the related Billing Cycle, weighted on the basis of the daily average of the related Asset Balances outstanding for each day in such Billing Cycle for each Mortgage Loan as determined by the Master Servicer in accordance with the Master Servicer's normal servicing procedures.
Weighted Average Net Loan Rate. For any Payment Date, the weighted average of the Net Loan Rates of the Mortgage Loans, weighted by the respective Principal Balances of the Mortgage Loans as of the beginning of the related Collection Period.
Examples of Weighted Average Net Loan Rate in a sentence
The REMIC I Regular Interests shall each have pass-through rates equal to the Weighted Average Net Loan Rate of the Mortgage Loans.
With respect to the Trust REMICs, the Trustee shall also calculate the Class Principal Balance or Notional Balance of each Class of Uncertificated Regular Interests, the Reduced Weighted Average Net Loan Rate, the REMIC II Remittance Rate, the REMIC II/III Strip Rate, each other Pass-Through Rate with respect to the Uncertificated Regular Interests, the Class X-IO REMIC Amount and the Class Z-IO REMIC Amount.
Maximum Rate: ------------ With respect to any Interest Period, the Weighted Average Net Loan Rate related to the Due Date in the month preceding the month in which such Interest Period ends (adjusted to an effective rate reflecting accrued interest calculated on the basis of the actual number of days in the Collection Period commencing in the month in which such Interest Period commences and a year assumed to consist of 360 days).
Interest will be deemed to accrue and be distributed on the Class MTN5 Interest at a rate equal to (x) the Group II Weighted Average Net Loan Rate minus (y) the Pass-Through Rate for the Class A-2 Certificates.
More Definitions of Weighted Average Net Loan Rate
Weighted Average Net Loan Rate for a Loan Group and any Collection Period means the average of the daily Net Loan Rate (specified in the Adoption Annex) for each Mortgage Loan in that Loan Group (assuming that each Mortgage Loan is fully indexed) for each day during the related Billing Cycle, weighted on the basis of the daily average of the Asset Balances outstanding for each day in the Billing Cycle for each Mortgage Loan as Ann-20 determined by the Master ▇▇rvicer in accordance with the Master Servicer's normal servicing procedures. ▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇ll issue under Section 2.02(b): o Class 1-A Notes in an aggregate principal amount of $504,746,000, and o Class 2-A Notes in an aggregate principal amount of $510,483,000. The "Administration Agreement" is the Administration Agreement of even date with this Indenture among the Issuer, the Master Servicer, and the Indenture Trustee.
Weighted Average Net Loan Rate. With respect to the Mortgage Loans in the aggregate, and any Due Date, the average of the Net Loan Rate for each Mortgage Loan as of the last day of the related Billing Cycle weighted on the basis of the related Asset Balances outstanding as of the last day of the related Billing Cycle (except for the [______________] Loans where the Net Loan Rate will represent the average Net Loan Rate during the related Billing Cycles weighted on the basis of the daily Asset Balance during the related Billing Cycle for such Mortgage Loans) for each Mortgage Loan as determined by the Master Servicer in accordance with the Master Servicer's normal servicing procedures.
Weighted Average Net Loan Rate means for any Payment Date the per annum rate equal to (a) the weighted average of the Mortgage Loans, minus (b) a rate equal to, on or prior to the Payment Date in July 2007, annualized interest payable on the Class A-IO Notes divided by the aggregate outstanding Principal Balance of the Mortgage Loans as of the beginning of the related Collection Period. Exhibit A-1a – Form of Class A-1 Note Exhibit A-1b – Form of Class A-2 Note Exhibit A-1c – Form of Class A-3 Note Exhibit A-1d – Form of Class A-IO Note UNLESS THIS CLASS A-1 NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CLASS A-1 NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. THE PRINCIPAL OF THIS CLASS A-1 NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN. ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS CLASS A-1 NOTE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF. THIS CLASS A-1 NOTE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE SELLER, THE DEPOSITOR, THE MASTER SERVICER, THE INDENTURE TRUSTEE, THE OWNER TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES, EXCEPT AS EXPRESSLY PROVIDED IN THE INDENTURE OR THE OTHER BASIC DOCUMENTS. Registered No. A-1-1 Note Balance: $148,833,000 Note Rate: Variable First Payment Date: February 25, 2005 Legal Final Payment Date: September 25, 2017 Percentage Interest: 100% CUSIP NO. 464187 BZ 5 ISIN NO. US464187BZ50 ▇▇▇▇▇ Whole Loan Home Equity Trust 2005-A, a statutory trust duly organized and existing under the laws of the State of Delaware (the "Issuer"), for value received, hereby promises to pay to CEDE & CO. or its registered assigns, the principal sum of One Hundred Forty Eight Million Eight Hundred Thirty Three Thousand Dollars ($148,833,000) payable on each Payment Date in an amount equal to the Percentage Interest specified above of the aggregate amount, if any, payable in respect of principal of the Class A-1 Notes pursuant to Section 3.05 of the Indenture dated, as of January 1, 2005 (the "Indenture"), between...
Weighted Average Net Loan Rate for any Collection Period means the average of the daily Net Loan Rate (specified in the Adoption Annex) for each Mortgage Loan (assuming that each Mortgage Loan is fully indexed) for each day during the related Billing Cycle, weighted on the basis of the daily average of the Asset Balances outstanding for each day in the Billing Cycle for each Mortgage Loan as determined by the Master Servicer in accordance with the Master Servicer's normal servicing procedures. Ann-1-18 ▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇ ▇▇ the Granting Clause is the Series 2002-B Subtrust. The Indenture Trustee shall issue under Section 2.02(b): Notes in an aggregate principal amount of $1,717,300,000 The "Administration Agreement" is the Administration Agreement of even date with this Indenture among the Issuer, the Master Servicer, and the Indenture Trustee. The "Closing Date" is March 4, 2002. The last day of the first "Collection Period" is the last day of March 2002. The "Corporate Trust Office" of the Indenture Trustee at the date of execution of this Indenture is located at 1 Bank One Plaza, Suite IL1-0481, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇-▇▇▇▇, ▇▇▇▇▇▇▇▇▇: ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ices Division.
Weighted Average Net Loan Rate. As to any Distribution Date, the average of the Net Loan Rates of all the Home Equity Loans in effect during the applicable monthly billing cycles ending in the calendar month preceding such Distribution Date (adjusted to an effective rate reflecting accrued interest calculated on the basis of the actual number of days in the related Accrual Period and a year assumed to consist of 360 days, and weighted by the respective Trust Balances thereof).
Weighted Average Net Loan Rate for a Loan Group and any Collection Period means the average of the daily Net Loan Rate (specified in the Adoption Annex) for each Ann-1-20 Mortgage Loan in that Loan Group (assuming that each ▇▇▇tgage Loan is fully indexed) for each day during the related Billing Cycle, weighted on the basis of the daily average of the Asset Balances outstanding for each day in the Billing Cycle for each Mortgage Loan as determined by the Master Servicer in accordance with the Master Servicer's normal servicing procedures. ▇▇▇▇▇ ▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇.▇▇(▇): o Class 1-A Notes in an aggregate principal amount of $570,164,000, and o Class 2-A Notes in an aggregate principal amount of $929,836,000. The "Administration Agreement" is the Administration Agreement of even date with this Indenture among the Issuer, the Master Servicer, and the Indenture Trustee.
Weighted Average Net Loan Rate for a Loan Group and any Collection Period means the average of the daily Net Loan Rate (specified in the Adoption Annex) for each Mortgage Loan in that Loan Group (assuming that each Mortgage Loan is fully indexed) for each day during the related Billing Cycle, weighted on the basis of the daily average of the Asset Balances outstanding for each day in the Billing Cycle for each Mortgage Loan as determined by the Master Servicer in accordance with the Master Servicer's normal servicing procedures. ANNEX 2 ADOPTION ANNEX The Indenture Trustee shall issue under Section 2.02(b): o Class 1-A Notes in an aggregate principal amount of $496,805,000, and o Class 2-A Notes in an aggregate principal amount of $503,195,000. The "Administration Agreement" is the Administration Agreement of even date with this Indenture among the Issuer, the Master Servicer, and the Indenture Trustee.