Coupon Strip Rate definition

Coupon Strip Rate. With respect to Loan Group I, shall equal the Coupon Strip, if any, payable to the Final Maturity Reserve Account on any Distribution Date, expressed as a per annum rate calculated on the basis of the aggregate Stated Principal Balance of the Group I Mortgage Loans as of such Distribution Date.
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Coupon Strip Rate. Not applicable. Credit Score: Not applicable.
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Coupon Strip Rate. On any Distribution Date occurring in or after February, 2013, in which an amount is payable to the Final Maturity Reserve Fund pursuant to Section 4.10, the per annum rate equal to (a) 0.12%, if the aggregate Stated Principal Balance of the Mortgage Loans with original terms to maturity in excess of 30 years is greater than or equal to the applicable scheduled amount for such Distribution Date set forth in column 2 of Schedule A hereto, but less than column 1 thereto; or (b) 0.30%, if the aggregate Stated Principal Balance of the Mortgage Loans with original terms to maturity in excess of 30 years is greater than or equal to the applicable scheduled amount for such Distribution Date set forth in column 1 of Schedule A hereto, in each case as provided pursuant to Section 4.10.
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More Definitions of Coupon Strip Rate

Coupon Strip Rate. A per annum rate equal to the product of (i) the Coupon Strip, if any, payable to the Final Maturity Reserve Account on any Distribution Date and (ii) twelve, divided by the aggregate Stated Principal Balance of the Mortgage Loans as of such Distribution Date. Cut-off Date Balance: $900,209,560.83. Cut-off Date: December 1, 2006. Deferred Interest: The amount of interest which is deferred and added to the principal balance of a Mortgage Loan due to negative amortization. For purposes of REMIC I, Deferred Interest shall be allocated to REMIC I Regular Interest LT1 in reduction of the portion of the Uncertificated Accrued Interest thereon distributable on the related Distribution Date and shall result in an increase in the principal balance thereof to the extent of such reduction.
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Coupon Strip Rate. For each Subgroup in Loan Group I and each Distribution Date beginning with the Distribution Date in May 2016, a fraction, expressed as a percentage, the numerator of which is equal to the Coupon Strip for such Subgroup, if any, payable to the Final Maturity Reserve Account on such Distribution Date, and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans in such Subgroup as of the Due Date occurring in the month prior to such Distribution Date.
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Related to Coupon Strip Rate

  • Class X Strip Rate With respect to each Component for any Distribution Date, a rate per annum equal to: (i) the WAC Rate for such Distribution Date, minus (ii) the Pass-Through Rate for the Corresponding Certificates.

  • Class X-1 Strip Rate With respect to any Distribution Date, the amount, if any, by which (i) the Weighted Average Net Mortgage Rate for such Distribution Date exceeds (ii) the sum of the Class LA-1-2-A Component Class X-2 Strip Rate and the Class A-1 Pass-Through Rate for such Distribution Date.

  • Coupon Rate has the meaning set forth in Section 2.8.

  • Ramp Rate is the applicable Ramp Rate as stated in Section 8 of Schedule A.

  • Monthly Payment Rate means, for any Monthly Period, a fraction (expressed as a percentage), (a) the numerator of which is the Principal Collections during such Monthly Period, and (b) the denominator of which is the Combined Outstanding Principal Balances as of the beginning of such Monthly Period.

  • Pool Strip Rate With respect to each Mortgage Loan, a per annum rate equal to the excess of (a) the Net Mortgage Rate of such Mortgage Loan over (b) the Discount Net Mortgage Rate (but not less than 0.00%) per annum.

  • Coupon Amount means (i) in respect of a Coupon Payment, the amount of interest payable on a Security for the relevant Coupon Period in accordance with Condition 5 and (ii) for the purposes of Conditions 8(c) and 8(d), any interest accrued from (and including) the preceding Coupon Payment Date (or, if none, the Issue Date) to (but excluding) the due date for redemption if not a Coupon Payment Date as provided for in Condition 5(b);

  • Bund Rate means, with respect to any relevant date, the rate per annum equal to the equivalent yield to maturity as of such date of the Comparable German Bund Issue, assuming a price for the Comparable German Bund Issue (expressed as a percentage of its principal amount) equal to the Comparable German Bund Price for such relevant date, where:

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • Reference Interest Rate means the interest rate which is used as the basis for calculating any interest to be applied and which comes from a publicly available source which can be verified by both parties to a payment service contract;

  • Reset Interest Period means each period from (and including) any Reset Date and ending on (but excluding) the next Reset Date.

  • Payment Rate means the rate (expressed in €/MWh, €/Mvarh or €/MWs2h as appropriate) for the calculation of payments for DS3 System Services as specified in the Charging Statement;

  • Accrual Period With respect to each Payment Date, the period beginning on and including the prior Payment Date (or, in the case of the first Payment Date, the Closing Date) and ending on and including the day preceding such Payment Date.

  • 3-Month LIBOR means the London interbank offered interest rate for three-month, U.S. dollar deposits determined by the Trustee in the following order of priority:

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.

  • Cap Rate For each Calculation Period, as set forth for such period on Schedule I attached hereto. Floating Rate for initial Calculation Period: To be determined Floating Rate Day Count Fraction: Actual/360 Floating Rate Option: USD-LIBOR-BBA, provided, however, if the Floating Rate Option for a Calculation Period is greater than 10.00% then the Floating Rate Option for such Calculation Period shall be deemed equal to 10.00%.

  • Weighted Average Net Mortgage Rate The weighted average of the Net Mortgage Rates of the Mortgage Loans, weighted on the basis of the Stated Principal Balances thereof as of the close of business on the first day of the calendar month preceding the month in which such Distribution Date occurs.

  • Net WAC Cap Rate With respect to any Distribution Date, the product of (i) a per annum rate equal to the weighted average of the Net Mortgage Rates (or, if applicable, the Modified Net Mortgage Rates) using the Net Mortgage Rates in effect for the Monthly Payments due on such Mortgage Loans during the related Due Period, weighted on the basis of the respective Stated Principal Balances thereof for such Distribution Date and (ii) a fraction equal to 30 divided by the actual number of days in the related Interest Accrual Period.

  • Interest Rate Basis means the Base Rate or the Eurodollar Basis, as applicable.

  • Treasury Index Rate means the average yield to maturity for actively traded marketable fixed interest rate U.S. Treasury Securities having the same number of 30-day periods to maturity as the length of the applicable Dividend Period, determined, to the extent necessary, by linear interpolation based upon the yield for such securities having the next shorter and next longer number of 30-day periods to maturity treating all Dividend Periods with a length greater than the longest maturity for such securities as having a length equal to such longest maturity, in all cases based upon data set forth in the most recent weekly statistical release published by the Board of Governors of the Federal Reserve System (currently in H.15(519)); provided, however, if the most recent such statistical release shall not have been published during the 15 days preceding the date of computation, the foregoing computations shall be based upon the average of comparable data as quoted to the Corporation by at least three recognized dealers in U.S. Government Securities selected by the Corporation.

  • SOFR Rate means the rate that will be obtained by the Paying Agent for each Interest Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, means, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

  • Interest Component Each future interest payment, or portion thereof, due on or prior to the Maturity Date, or if the Debt Security is subject to redemption or repayment prior to the Maturity Date, the first date on which such Debt Security is subject to redemption or repayment.

  • SBI 1 Year MCLR Rate means 1 year Marginal Cost of Funds Based Lending Rate (MCLR) fixed by State Bank of India (SBI) / any replacement thereof by SBI for the time being in effect applicable for 1 year period, as on 1st April of the respective financial year in accordance with regulations and guidelines of Reserve Bank of India. In absence of such rate, any other arrangement that substitutes such rate as mutually agreed to by the Parties.

  • Discount Net Mortgage Rate As defined in the Series Supplement.

  • Compounded Daily Reference Rate means, with respect to an Interest Period, the rate of return of a daily compound interest investment in the Specified Currency (with the applicable Reference Rate (as indicated in the relevant Final Terms and further provided for below) as the reference rate for the calculation of interest) and will be calculated by the Calculation Agent on the Interest Determination Date, as follows, and the resulting percentage will be rounded, if necessary, to the fifth decimal place, with 0.000005 being rounded upwards:

  • Annual Interest Rate in accordance with the rate applicable to the equal instalment financing plan in effect on the conversion date, up to a maximum of 19.90%.