Current Accrual Rate definition

Current Accrual Rate means, with respect to any Payment Date and Reference Obligation, the current mortgage rate (as adjusted for any Modification Event), less the greater of

Examples of Current Accrual Rate in a sentence

  • Current Accrual Rate - with respect to any payment date and Covered Loan is the current mortgage rate (as adjusted for any Modification), less the greater of (x) the related servicing fee rate and (y) 35 basis points.

  • Current Period Modification Loss Amount – means, as reported in the applicable Monthly Servicing Report, with respect to each payment date and any Covered Loan that has experienced a Modification: (a) one-twelfth of the Original Accrual Rate multiplied by the UPB of such Covered Loan, minus(b) one-twelfth of the Current Accrual Rate multiplied by the interest bearing UPB of such Covered Loan.

  • The "Current Accrual Rate" with respect to any Payment Date and Reference Obligation is the current mortgage rate (as adjusted for any Modification Event), less the greater of (x) the related servicing fee rate and (y) 35 basis points.

  • The "Current Accrual Rate" with respect to any Payment Date and Reference Obligation is the current mortgage rate (as adjusted for any Modification Event), less the greater of (x) the related servicing fee rate and (y) 35 basis points.The "Liquidation Proceeds" with respect to a Credit Event Reference Obligation represent all cash amounts (including sales proceeds, net of selling expenses) received in connection with the liquidation of the Credit Event Reference Obligation.

  • To complete the Subsitute Form W-9, if you do not have a taxpayer identification number, check the appropriate box in Part 1(b), sign and date the Form, and give it to the requester.

  • Modification Loss Amount Allocation of Modification Loss AmountsWith respect to each Payment Date and any Reference Obligation that has experienced a Modification Event, the excess, if any, of: (i) one-twelfth of the Original Accrual Rate multiplied by the unpaid principal balance of such Reference Obligation, over (ii) one-twelfth of the Current Accrual Rate multiplied by the interest bearing unpaid principal balance of such Reference Obligation.

  • Modification Loss Amount - with respect to each Payment Date and any Covered Loan that has experienced a Modification is:(a) one-twelfth of the Original Accrual Rate multiplied by the UPB of such Covered Loan, minus(b) one-twelfth of the Current Accrual Rate multiplied by the interest bearing UPB of such Covered Loan.

  • Current Period Modification Loss Amount - means, as reported in the applicable Monthly Servicing Report, with respect to each payment date and any Covered Loan that has experienced a Modification: (a) one-twelfth of the Original Accrual Rate multiplied by the UPB of such Covered Loan, minus(b) one-twelfth of the Current Accrual Rate multiplied by the interest bearing UPB of such Covered Loan.

  • Current Accrual Rate – with respect to any payment date and Covered Loan is the current mortgage rate (as adjusted for any Modification), less the greater of (x) the related servicing fee rate and (y) 35 basis points.

  • Modification Loss Amount – with respect to each payment date and any Covered Loan that has experienced a Modification is: (a) one-twelfth of the Original Accrual Rate multiplied by the UPB of such Covered Loan, minus (b) one-twelfth of the Current Accrual Rate multiplied by the interest bearing UPB of such Covered Loan.


More Definitions of Current Accrual Rate

Related to Current Accrual Rate

  • Original Accrual Rate means, with respect to any Reference Obligation, the mortgage rate as of the Cut-off Date, less the greater of (x) the related servicing fee and (y) 35 basis points.

  • Interest Accrual Amount As to any Distribution Date and any Class of Class A Certificates (other than the Class A-PO Certificates), (a) the product of (i) 1/12th of the Class A Pass-Through Rate for such Class and (ii) the Principal Balance of such Class as of the Determination Date preceding such Distribution Date minus (b) the Class A Interest Percentage of such Class of (i) any Non-Supported Interest Shortfall allocated to the Class A Certificates with respect to such Distribution Date, (ii) the interest portion of any Excess Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy Losses allocated to the Class A Certificates with respect to such Distribution Date pursuant to Section 4.02(e) and (iii) the interest portion of any Realized Losses (other than Excess Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy Losses) allocated to the Class A Certificates on or after the Cross-Over Date pursuant to Section 4.02(e). The Class A-PO Certificates have no Interest Accrual Amount. As to any Distribution Date and any Class of Class B Certificates, an amount equal to (i) the product of 1/12th of the Class B Pass-Through Rate and the Principal Balance of such Class as of the Determination Date preceding such Distribution Date minus (ii) the Class B Interest Percentage of such Class of (x) any Non-Supported Interest Shortfall allocated to the Class B Certificates with respect to such Distribution Date and (y) the interest portion of any Excess Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy Losses allocated to the Class B Certificates with respect to such Distribution Date pursuant to Section 4.02(e).

  • Current Rate means the applicable basic minimum wage rate for Local Workers by reason of any National or State Statute or Ordinance, prevailing on any date subsequent to the date 28 days prior to the latest date set for submission of Tenders.