Cap Payment(s) definition

Cap Payment(s) means any and all monies payable pursuant to any Cap Agreement by a Cap Provider.

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Cap Payment(s). For each Distribution Date, the cap payment that the Cap Counterparty is obligated to pay to the Supplemental Interest Trust if LIBOR (as defined in the Cap Contract) is greater than 6.000%. The Cap Payment is based on the lesser of (a) the Cap Contract Notional Balance for the Distribution Date and (b) the excess if any, of (A) the beginning aggregate Certificate Principal Balance for such Distribution Date over (B) the Swap Agreement Notional Balance for such Distribution Date, if LIBOR exceeds 6.000%.

Cap Payment(s) means on any Payment Date the amount, if any, then payable by the Cap Provider to the Issuer, excluding any Cap Termination Payments.

Examples of Cap Payment(s) in a sentence

• Borrower will instruct each Cap Provider and any guarantor of a Cap Provider’s obligations to make Cap Payments directly to Lender or to Loan Servicer on behalf of Lender.

• Borrower has instructed each Cap Provider and any guarantor of a Cap Provider’s obligations to make Cap Payments directly to Lender or to Loan Servicer on behalf of Lender.

• Borrower has instructed and will instruct each Cap Provider and any guarantor of a Cap Provider’s obligations to make Cap Payments directly to Lender or to Loan Servicer on behalf of Lender.

• The Issuer, or the Administrator on its behalf, will direct the Cap Counterparty to remit any Cap Payments into the Collection Account on or before the second Business Day preceding each Payment Date.

• On any Distribution Date, Swap Termination Payments, Net Swap Payments owed to the Swap Provider, Net Swap Receipts and Cap Payments for that Distribution Date will be deposited into the Supplemental Interest Trust.

More Definitions of Cap Payment(s)

Cap Payment(s) means payments received from time to time by the Trustee in accordance with the Cap Agreement.

Cap Payment(s) means, with respect to any Eligible Interest Rate Cap (or other interest rate cap), all payments remitted to the Collection Account by an Eligible Counterparty (or other counterparty) which represent payments made by such Eligible Counterparty (or other counterparty) under the terms of such Eligible Interest Rate Cap (or other interest rate cap).

Cap Payment(s) shall have the meaning provided in Section 5.5.

Cap Payment(s) means all payments remitted by a Hedge Counterparty which represent payments made by such Hedge Counterparty under the terms of any Hedge Transaction that is an interest rate cap entered into by the Sellers with such Hedge Counterparty.

Cap Payment(s) means, if applicable, payments received from time to time by the Trustee in accordance with the Cap Agreement.

Cap Payment(s) means on any Distribution Date the amount, if any, then payable by the Cap Provider to the Issuer, excluding any Cap Termination Payments.

Cap Payment(s) means, for the Interest Rate Cap Agreement, the amount, if any, owed by the Cap Counterparty to the Issuing Entity on any Payment Date (excluding any Cap Termination Payments) which shall be deposited in the Collection Account.]