Examples of Available Funds Cap in a sentence

The Certificates will accrue interest at a rate based on LIBOR plus a margin, subject to the related Available Funds Cap.
The Certificate Rate for the Adjustable Rate Certificates shall be calculated on the basis of a 360-day year and the actual number of days elapsed except that if an Available Funds Cap is used to calculate the Certificate Rate for any Class of Certificates, interest thereon shall be calculated on the basis of a 360-day year consisting of twelve 30 day months.
Calculated as (a) the Available Funds Cap plus (b) the result of the proceeds from the related Cap Contract divided by the aggregate certificate principal balance of the classes of applicable certificates for such Distribution Date, annualized based on the actual number of days in the accrual period.
The values indicated include proceeds from the related Cap Contract, although such proceeds are excluded from the calculation of the Available Funds Cap described herein.
The Available Funds Cap Reserve Fund shall not be an asset of any REMIC established hereby.

More Definitions of Available Funds Cap

Available Funds Cap. For any Payment Date, the Remittance Amount less all amounts used to pay Current Interest and Carryforward Interest on each Class of Notes other than the Class B-2 Notes, divided by the Class Principal Balance of the Class B-2 Notes immediately prior to such Payment Date, and multiplied by 12.

Available Funds Cap. For any Payment Date and any class of notes, a per annum rate equal to, the quotient of (i) the product of (a) the aggregate Distributable Interest Amount for such Payment Date multiplied by (b) the quotient of (I) 360 divided by (II) the actual number of days in the Interest Accrual Period, divided by (ii) the aggregate Adjusted Class Note Balance of all classes of notes on the first day of the Interest Accrual Period (after taking into account payments of principal received or advanced on the Mortgage Loans on such day).

Available Funds Cap. With respect to any Distribution Date on or before the Distribution Date in September 2017 and the Class A-1 Certificates, 6.00% per annum plus amounts, if any, paid pursuant to the Yield Maintenance Agreement (which shall not be part of any REMIC hereunder), expressed as a per annum rate. With respect to any Distribution Date after the Distribution Date in September 2017, 6.00% per annum.

Available Funds Cap. With respect to each Distribution Date and (a) the Group I Certificates, the Group I Available Funds Cap, (b) the Group II Certificates, the Group II Available Funds Cap and (c) the Class M Certificates, the Subordinate Available Funds Cap, each for such Distribution Date. If the aggregate Principal Balance of any Group of Mortgage Loans has been reduced to zero on a prior Distribution Date, the Available Funds Cap for the related Classes of Class A Certificates will be equal to the Available Funds Cap of the Group of Mortgage Loans with an aggregate Principal Balance greater than zero.

Available Funds Cap. A per annum rate equal to (i) the weighted average Net Loan Rate of the Mortgage Loans minus (ii) the product of (x) the Pass-Through Rate on the Class A-IO Certificates and (y) a fraction, the numerator of which is the Notional Amount of such Class A-IO Certificates immediately prior to such Distribution Date, and the denominator of which is the Pool Balance as of the end of the second preceding Collection Period.

Available Funds Cap. For each Distribution Date, the percentage equivalent of a fraction, the numerator of which is (a) an amount equal to (i) the aggregate Interest Remittance Formula Amount for the Group I and Group II Mortgage Loans, less (ii) the Administrative Fees, less (iii) the Class I Monthly Interest Distributable Amount, and less (iv) any unpaid Hedge Termination Payments that are not Defaulted Hedge Termination Payments, and the denominator of which is (b) the product of (i) the actual number of days in the related Accrual Period divided by 360 and (ii) the aggregate Principal Balance of the Mortgage Loans.

Available Funds Cap. With respect to a Distribution Date, the per annum rate equal to the product of (i) 12, (ii) the quotient of (x) the total scheduled interest on the Mortgage Loans based on the Net Mortgage Rates in effect on the related Due Date, less any Net Swap Payments or Swap Termination Payments (other than Defaulted Swap Termination Payments) owed to the Swap Counterparty for such Distribution Date and (y) the aggregate Stated Principal Balance of the Mortgage Loans as of the first day of the related Accrual Period (or, in the case of the first Distribution Date, as of the Cut-off Date) and (iii) a fraction, the numerator of which is 30, and the denominator of which is the actual number of days in the related Accrual Period.