Net WAC Cap. Any of the Group I Net WAC Cap, the Group II Net WAC Cap or the Subordinated Net WAC Cap, as the context requires.
Net WAC Cap. For any Distribution Date, the percentage equivalent of a fraction, (1) the numerator of which is equal to (a) the amount of interest accrued on the Mortgage Loans at the Weighted Average Pass-Through Rate for such Distribution Date, minus (b) the sum of any Net Swap Payment owed to the Swap Counterparty and any Swap Termination Payment owed to the Swap Counterparty (other than any Swap Termination Payment owed to the Swap Counterparty due to a Swap Counterparty Trigger Event) for such Distribution Date, plus (c) any Net Swap Payment received from the Swap Counterparty for such Distribution Date, and (2) the denominator of which is equal to the product of (a) the actual number of days in the related No-Delay Accrual Period divided by 360 and (b) the aggregate principal balance of the Mortgage Loans as of the second preceding Due Date (after giving effect to (a) the payments due on the Mortgage Loans on that Due Date and (b) except for the first Distribution Date, any Payoffs on the Mortgage Loans received on or before the 14th day of the calendar month of that Due Date).
Net WAC Cap. For any Distribution Date, a per annum rate equal to the product of (i) the weighted average of the interest rates on the REMIC 3 Regular Interests (other than the Class LT-Reserve-IO Interest, Class LT3-X Interest and Class LT-Swap-IO Interest) multiplied by (ii) the quotient of thirty (30) divided by the actual number of days in the Interest Accrual Period for the Offered Certificates.
Net WAC Cap. Any of the Fixed Rate Net WAC Cap, the Variable Rate Net WAC Cap or the Subordinate Net WAC Cap, as applicable. Non-Delay Certificates: Any of the Class AF-1, Class AV-1, Class AV-2, Class S, Class M-1, Class M-2, Class M-3 and Class BV Certificates.
Net WAC Cap. For any Distribution Date, will be the per annum rate (which rate, in the case of the Floating Rate Certificates, will be multiplied by 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) equal to (x) the weighted average of the Expense Adjusted Net Mortgage Rates of the Mortgage Loans for such Distribution Date (weighted based on the Stated Principal Balances of the Mortgage Loans as of the first day of the related Remittance Period, adjusted, except in the case of the first Distribution Date, to reflect unscheduled principal payments made during the Prepayment Period that includes such first day, minus (y) a fraction, expressed as a percentage, (i) the numerator of which is equal to the product of twelve multiplied by any Net Swap Payment or any 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 an event of default or certain termination events with respect to the Swap Provider) made to the Swap Provider, if any, 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, except in the case of the first Distribution Date, to reflect unscheduled principal payments made during the Prepayment Period that includes such first day.
Net WAC Cap. As to any Distribution Date, the per annum rate equal to the product of (a) the excess if any, of (i) the Net WAC Rate, over (ii) the percentage equivalent of the quotient obtained by dividing (A) the product of (1) the sum of (x) the Net Swap Payment, if any, owed to the Swap Counterparty for that Distribution Date and (y) the Swap Termination Payment (other than any Swap Termination Payment resulting from a Swap Counterparty Trigger Event), if any, owed to the Swap Counterparty for that Distribution Date, and (2) 12, by (B) the sum of (x) the aggregate principal balance of the Loans as of the first day of the related Due Period and (y) the amount on deposit in the Pre-Funding Account immediately prior to that Distribution Date, and (b) the quotient obtained by dividing 30 by the actual number of days elapsed in the related Interest Accrual Period. Net WAC Cap Account The account established and maintained pursuant to Section 3A.04. Net WAC Cap Carryover With respect to any Class of the Offered Certificates and any Distribution Date, the sum of (a) the excess, if any, of the Interest Distribution Amount for such Class for such Distribution Date, calculated at its Pass-Through Rate (without regard to the Net WAC Cap), over the actual Interest Distribution Amount for such Class for such Distribution Date, and (b) any related Net WAC Cap Carryover remaining unpaid from the prior Distribution Date, together with interest accrued thereon at its Pass-Through Rate (without regard to the Net WAC Cap) during the related Interest Accrual Period.
Net WAC Cap. For a Distribution Date, the weighted average of the Net Note Rates of the Mortgage Loans of Pool 1 (calculated on the basis of the Loan Balances thereof as of the first day of the related Collection Period), adjusted to an actual/360 basis. Group 1 Principal Balance. As of any date, the sum of the Subclass Principal Balances of the Group 1 Certificates.
Net WAC Cap. For a Distribution Date, the weighted average of the Net Note Rates of the Mortgage Loans of Pool 2 (calculated on the basis of the Loan Balances thereof as of the first day of the related Collection Period), adjusted to an actual/360 basis. Group 2 Principal Balance. As of any date, the sum of the Subclass Principal Balances of the Group 2 Certificates. Group 2 Principal Distribution Amount. For any Distribution Date, the lesser of (x) the Group 2 Principal Balance and (y) Pool 2 Principal Proceeds plus any Extra Principal Distribution Amount for Group 2 minus any Release Amount for Group 2.
Net WAC Cap. For any Distribution Date, the per annum rate (subject to adjustment based on the actual number of days elapsed in the related Interest Accrual Period) equal to the sum of (x) the weighted average of the Expense Adjusted Net Mortgage Rates of the Mortgage Loans for such Distribution Date (adjusted to reflect unscheduled principal payments made after the first day of the related Remittance Period that were included in the Principal Distribution Amount on the immediately preceding Distribution Date) and (y) any Net Swap Payment made by the Swap Provider minus any Net Swap Payment made by the Supplemental Interest Trust Trustee, multiplied by 12 and expressed as a percentage of the aggregate Stated Principal Balance of the Mortgage Loans on the first day of the related Remittance Period (after giving effect to principal prepayments received in the Prepayment Period that ends during such Remittance Period).
Net WAC Cap. For each Class of Certificates and any Distribution Date, the per annum rate (subject to adjustment based on the actual number of days elapsed in the related Interest Accrual Period) equal to (x) the weighted average of the Expense Adjusted Net Mortgage Rates of the Mortgage Loans minus (y) the percentage equivalent of a fraction, the numerator of which is any Net Swap Payment or Swap Termination Payment (only if such Swap Termination Payment was not due to a Swap Provider Trigger Event) deposited in the Supplemental Interest Trust for payment to the Swap Provider, if any, multiplied by 12 and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans. For federal income tax purposes, the equivalent of the foregoing shall be expressed as the weighted average (subject to adjustment based on the actual number of days elapsed in the related Interest Accrual Period) of the REMIC II Remittance Rates on the REMIC II Regular Interests (other than REMIC II Regular Interest LTIO), weighted on the basis of the Uncertificated Balance of such REMIC II Regular Interest.
