Weighted Maximum Rate Cap definition

Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to the weighted average of the Adjusted Maximum Mortgage Rates on the Mortgage Loans.
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Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to the product of (x)(i) the weighted average of the Maximum Mortgage Rates on the Mortgage Loans (calculated based upon the Stated Principal Balance of such Mortgage Loans as of the preceding Distribution Date) on such Distribution Date minus (ii) the Servicing Fee Rate, the Credit Risk Manager Fee Rate and the PMI Insurer's Fee Rate and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period.
Sample 1
Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to (i) with respect to the Class AV-1 Certificates, the weighted average of the Adjusted Maximum Mortgage Rates on the Mortgage Loans in Loan Subgroup 2A, (ii) with respect to the Class AV-2 Certificates, the weighted average of the Adjusted Maximum Mortgage Rates on the Mortgage Loans in Loan Subgroup 2B, and (iii) with respect to the Group 2 Subordinate Certificates, the lesser of (i) and (ii) above, in each case, multiplied by a fraction, the numerator of which is 30 and the denominator of which is the number of actual days elapsed in the related Accrual Period; provided, however, that if either Loan Subgroup is reduced to zero, the Weighted Maximum Rate Cap shall be the weighted average of the Adjusted Maximum Mortgage Rates on the Mortgage Loans in the remaining Loan Subgroup.
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More Definitions of Weighted Maximum Rate Cap

Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to (i) the weighted average of the Maximum Mortgage Rates on the Group II Mortgage Loans on such Distribution Date minus (ii) the sum of (a) the Servicing Fee Rate and (b) the Master Servicer Fee Rate. ARTICLE II
Sample 1
Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to (i) the weighted average of the Maximum Mortgage Rates on the Mortgage Loans (calculated based upon the Stated Principal Balance of such Mortgage Loans as of the preceding Distribution Date) on such Distribution Date minus and (ii) the Servicing Fee Rate. WMC: WMC Mortgage Corporation, a New Jersey corporation, or its successor in interest.
Sample 1
Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to (i) the weighted average of the Maximum Mortgage Rates on the Adjustable Rate Mortgage Loans on such Distribution Date multiplied by 360 over the actual number of days in the Due Period minus (ii) the Servicing Fee Rate.
Sample 1Sample 2
Weighted Maximum Rate Cap. As of any Distribution Date, a rate determined by (A) dividing the interest that would have accrued at the maximum lifetime Net Mortgage Rates on the Adjustable Rate Mortgage Loans and at the Net Mortgage Rates on the Fixed Rate Mortgage Loans, less the Current Interest on the Class X Certificates, by the aggregate principal amount of the Mortgage Loans, and (B) multiplying the result by 12.
Sample 1
Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to the product of (x) 12 times the quotient obtained by dividing the excess of (i) the interest that would have been payable on the Mortgage Loans (based on their Stated Principal Balances) at their Maximum Mortgage Rates during the related Due Period over (ii) the related Servicing Fees, the Credit Risk Management Fee, the Trustee Fee and premiums paid by the Servicer on the related LPMI Policy, by the aggregate Stated Principal Balance of the Mortgage Loans and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of the days in the related Accrual Period.
Sample 1
Weighted Maximum Rate Cap. As of any Distribution Date, a per annum rate equal to the weighted average of the Maximum Mortgage Rates on the Adjustable Rate Mortgage Loans and the Mortgage Rates on the Fixed Rate Mortgage Loans (calculated based upon the Stated Principal Balance of such Mortgage Loans as of the preceding Distribution Date) on such Distribution Date minus the sum of (a) the Servicing Fee Rate and (b) the PMI Insurer Fee Rate, if applicable, multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the relevant Accrual Period.
Sample 1

Related to Weighted Maximum Rate Cap

  • Maximum Rate Cap Any of the Class A-1 Maximum Rate Cap, the Class A-2 Maximum Rate Cap or the Weighted Average Maximum Rate Cap.

  • Maximum Rate shall have the meaning assigned to such term in Section 9.09.

  • Minimum Rate With respect to each ARM Loan, the rate per annum set forth in the related Mortgage Note as the minimum Note Rate thereunder. The Minimum Rate as to each ARM Loan is set forth on the related Mortgage Loan Schedule.

  • Maximum Rate of Interest It is intended that the rate of interest hereon shall never exceed the maximum rate, if any, which may be legally charged on the loan evidenced by this Note ("Maximum Rate"), and if the provisions for interest contained in this Note would result in a rate higher than the Maximum Rate, interest shall nevertheless be limited to the Maximum Rate and any amounts which may be paid toward interest in excess of the Maximum Rate shall be applied to the reduction of principal, or, at the option of HSBC, returned to the Company.

  • Minimum Rate Period means any Rate Period consisting of 7 Rate Period Days.

  • Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

  • Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Maximum Loan Rate With respect to each Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Loan Rate thereunder.

  • Net Rate Cap With respect to any Distribution Date and the Class A-1, Class A-2, Class A-3 and Class M Certificates, the excess of (A) a per annum rate equal to the product of (x) the weighted average of the Net Mortgage Rates on the then outstanding Mortgage Loans, weighted based on the Stated Principal Balances of such Mortgage Loans as of the related Due Date prior to giving effect to any reduction in the Stated Principal Balances of such Mortgage Loans on such Due Date, and (y) 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, over (B) an amount, expressed as a per annum rate, equal to the sum of (i) the Net Swap Payment payable to the Swap Provider on such Distribution Date and (ii) an amount equal to the Swap Termination Payment not due to a Swap Provider Trigger Event payable to the Swap Provider, divided by the aggregate outstanding Stated Principal Balance of the Mortgage Loans as of the related Due Date prior to giving effect to any reduction in the Stated Principal Balances of such Mortgage Loans on such Due Date, multiplied by 12. With respect to any Distribution Date and the REMIC III Regular Interests the ownership of which is represented by the Class A-1, Class A-2, Class A-3 and Class M Certificates, a per annum rate equal to the weighted average (adjusted for the actual number of days elapsed in the related Accrual Period) of the Uncertificated REMIC II Pass-Through Rates on the REMIC II Regular Interests (other than REMIC II Regular Interests IO and P), weighted on the basis of the Uncertificated Principal Balances of each such REMIC II Regular Interest immediately prior to such Distribution Date.

  • Premium Rate has the meaning assigned to such term in the Premium Letter.

  • Base premium rate means, for each class of business as to a rating period, the lowest premium rate charged or that could have been charged under the rating system for that class of business by the small employer carrier to small employers with similar case characteristics for health benefit plans with the same or similar coverage.

  • Maximum Cap Rate For any Distribution Date with respect to the Group I Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group I Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (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) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Group II Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group II Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group II Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (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) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Mezzanine Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average (weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of the applicable Loan Group, the current Certificate Principal Balance of the related Class A Certificates) of the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans and the Group II Mortgage Loans, in each case, weighted on the basis of the outstanding Stated Principal Balances of the related Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (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) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12.

  • 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.

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Maximum Lawful Rate has the meaning set forth in Section 2.7.

  • Adjusted Maximum Amount means, with respect to a Contributing Guarantor as of any date of determination, the maximum aggregate amount of the obligations of such Contributing Guarantor under this Guaranty or a Related Guaranty, in each case determined in accordance with the provisions hereof and thereof; provided that, solely for purposes of calculating the “Adjusted Maximum Amount” with respect to any Contributing Guarantor for purposes of this paragraph 2, the assets or liabilities arising by virtue of any rights to or obligations of contribution hereunder or under any similar provision contained in a Related Guaranty shall not be considered as assets or liabilities of such Contributing Guarantor. “Aggregate Payments” means, with respect to a Contributing Guarantor as of any date of determination, the aggregate amount of all payments and distributions made on or before such date by such Contributing Guarantor in respect of this Guaranty and the Related Guaranties (including, without limitation, in respect of this paragraph 2 or any similar provision contained in a Related Guaranty). The amounts payable as contributions hereunder and under similar provisions in the Related Guaranties shall be determined as of the date on which the related payment or distribution is made by the applicable Funding Guarantor. The allocation among Contributing Guarantors of their obligations as set forth in this paragraph 2 or any similar provision contained in a Related Guaranty shall not be construed in any way to limit the liability of any Contributing Guarantor hereunder or under a Related Guaranty. Each Contributing Guarantor under a Related Guaranty is a third party beneficiary to the contribution agreement set forth in this paragraph 2.

  • Periodic Interest Rate Cap As to each adjustable rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Adjusted Net Maximum Mortgage Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the applicable Maximum Mortgage Rate for such Mortgage Loan (or the Mortgage Rate in the case of any Fixed-Rate Mortgage Loan) as of the first day of the month preceding the month in which the related Distribution Date occurs minus the sum of (i) the Trustee Fee Rate and (ii) the Servicing Fee Rate.

  • Maximum Advance Amount shall not exceed Five Hundred Thousand Dollars ($500,000) or two hundred (200%) percent of the average daily volume based on the trailing ten (10) days preceding the Drawdown Notice date whichever is of a larger value.

  • Reduction Amount has the meaning set forth in Section 2.05(b)(viii).

  • Applicable Interest Rate Margin means (a) as to any Base Rate Advance, the applicable rate per annum set forth below under the caption “Base Rate Spread” and (b) as to any LIBO Rate Advance, the applicable rate per annum set forth below under the caption “LIBO Rate Spread”, determined by reference to the higher of (i) the rating of Mondelēz’s long-term senior unsecured Debt from Standard & Poor’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Standard & Poor’s for Mondelēz) and (ii) the rating of Mondelēz’s long-term senior unsecured Debt from Moody’s (or, if there shall be no outstanding rated long-term senior unsecured Debt of Mondelēz, the long-term company, issuer or similar rating established by Moody’s for Mondelēz), in each case on such date: Rating Base Rate Spread LIBO Rate Spread A or higher by Standard & Poor’s A2 or higher by Moody’s 0.000 % 0.805 % A- by Standard & Poor’s A3 by Moody’s 0.000 % 0.920 % BBB+ by Standard & Poor’s Baa1 by Moody’s 0.030 % 1.030 % BBB by Standard & Poor’s Baa2 by Moody’s 0.140 % 1.140 % Lower than BBB by Standard & Poor’s Lower than Baa2 by Moody’s 0.250 % 1.250 % provided that if on any date of determination (x) a rating is available on such date from only one of Standard & Poor’s and Moody’s but not the other, the Applicable Interest Rate Margin shall be determined by reference to the then available rating; (y) no rating is available from either of Standard & Poor’s or Moody’s, the Applicable Interest Rate Margin shall be determined by reference to the rating of any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders and (z) no rating is available from any of Standard & Poor’s, Moody’s or any other nationally recognized statistical rating organization designated by Mondelēz and approved in writing by the Required Lenders, the Applicable Interest Rate Margin shall be 0.250% as to any Base Rate Advance and 1.250% as to any LIBO Rate Advance.

  • Daily Maximum Cash Amount means, with respect to the conversion of any Note, the quotient obtained by dividing (A) the Specified Dollar Amount applicable to such conversion by (B) forty (40).

  • Annual Percentage Rate or “APR” of a Receivable means the annual percentage rate of finance charges or service charges, as stated in the related Contract.

  • Net Loan Rate With respect to any Mortgage Loan (or the related REO Property), as of any date of determination, a per annum rate of interest equal to the then applicable Loan Rate for such Mortgage Loan minus the related Servicing Fee Rate and the Master Servicing Fee Rate.

  • Maximum Lifetime Mortgage Rate The maximum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.