Floating Rate Grantor Trust definition

Floating Rate Grantor Trust means each of Grantor Trust A-2FL, Grantor Trust A-4FL, Grantor Trust A-MFL and Grantor Trust A-JFL.
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Floating Rate Grantor Trust. Grantor Trust A-4FL, Grantor Trust A-MFL or Grantor Trust A-JFL, as applicable.
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Floating Rate Grantor Trust means either the Class A-MFL Grantor Trust or the Class A-JFL Grantor Trust.
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Examples of Floating Rate Grantor Trust in a sentence

  • Upon the Trustee (as Grantor Trust Trustee) entering into a Swap Agreement on behalf of any Floating Rate Grantor Trust, such grantor trust shall be bound by the terms and conditions of such Swap Agreement.

  • Each Floating Rate Grantor Trust shall be maintained by the Grantor Trust Trustee, who shall at all times, be the entity acting as Trustee.

  • The Trustee is hereby authorized and directed, not in its individual capacity but solely as Grantor Trust Trustee and on behalf, and for the benefit, of each Floating Rate Grantor Trust, to execute and deliver the related Swap Agreement on the Closing Date and to perform obligations as described herein with respect to the related Swap Agreement.

  • Each Floating Rate Grantor Trust shall be maintained by the Grantor Trust Trustee, who shall at all times, be the entity acting as Trustee; provided that, the Certificate Administrator shall administer the Floating Rate Grantor Trusts on behalf of the Grantor Trust Trustee.

  • No such amendment effected pursuant to clause (i), (ii) or (iv) of the preceding sentence shall (A) adversely affect in any material respect the interests of any Holder not consenting thereto, without the consent of 100% of the Certificateholders adversely affected thereby or (B) adversely affect the status of any REMIC Pool as a REMIC (or the Class EI Grantor Trust or each Floating Rate Grantor Trust as a grantor trust).

  • Trust Provisions The Master Servicers shall act in accordance with this Agreement, the REMIC Provisions and the Grantor Trust Provisions and related provisions of the Code in order to create or maintain the status of the REMIC Pools created hereby as REMICs and the Class EI Grantor Trust and each Floating Rate Grantor Trust created hereby as a grantor trust under the Code.

  • Each Special Servicer shall act in accordance with this Agreement, the REMIC Provisions and the Grantor Trust Provisions and related provisions of the Code in order to create or maintain the status of the Class EI Grantor Trust and each Floating Rate Grantor Trust as a grantor trust and of any REMIC Pool as a REMIC under the Code or, as appropriate, cooperate with the Paying Agent to adopt a plan of complete liquidation.

  • Under no circumstances may the Trustee or the Paying Agent vary the assets of the Class EI Grantor Trust or either Floating Rate Grantor Trust so as to take advantage of variations in the market so as to improve the rate of return of Holders of the Class EI Certificates or the related Class of Floating Rate Certificates, as the case may be.

  • The provisions of this Article XII shall apply to each REMIC Pool, each Floating Rate Grantor Trust and the Class EI Grantor Trust, as applicable.

  • Upon the Certificate Administrator entering into a Swap Agreement on behalf of the applicable Floating Rate Grantor Trust, such grantor trust shall be bound by the terms and conditions of such Swap Agreement.

Related to Floating Rate Grantor Trust

  • Floating Rate Certificate A Certificate that provides for the payment of interest at a Floating Pass-Through Rate determined periodically by reference to a formula specified in the related Supplement.

  • Floating Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • Floating Rate Classes The Classes designated as either “Floating Rate” or “Inverse Floating Rate” in the Prospectus Supplement.

  • Floating Rate Note means any Class A-2b Note.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Floating Rate Period has the meaning set forth in section 2.5(b)(ii) hereof.

  • CB Floating Rate means the Prime Rate; provided that the CB Floating Rate shall never be less than the Adjusted One Month LIBOR Rate on such day (or if such day is not a Business Day, the immediately preceding Business Day). Any change in the CB Floating Rate due to a change in the Prime Rate or the Adjusted One Month LIBOR Rate shall be effective from and including the effective date of such change in the Prime Rate or the Adjusted One Month LIBOR Rate, respectively.

  • Floating Rate means, for any day, a rate per annum equal to (i) the Alternate Base Rate for such day plus (ii) the Applicable Margin, in each case changing when and as the Alternate Base Rate changes.

  • Floating Rate Convention means that each relevant date shall be the date which numerically corresponds to the preceding such date in the calendar month which is the number of months specified in the applicable Final Terms as the Specified Period after the calendar month in which the preceding such date occurred; provided, however, that:

  • Floating Rate Notes means the Class A-2b Notes.

  • Floating Rate Option has the meaning given to it in the ISDA Definitions;

  • Floating Rate Security means a Debt Security that provides for the payment of interest at a variable rate determined periodically by reference to an interest rate index specified pursuant to Section 2.03.

  • Floating Rate Interest Period means, during the Floating Rate Period, the period beginning on (and including) a Floating Rate Period Interest Payment Date and ending on (but excluding) the next succeeding Floating Rate Period Interest Payment Date; provided that the first Floating Rate Interest Period will begin on (and include) April 18, 2025 and will end on (but exclude) the first Floating Rate Period Interest Payment Date.

  • Floating Interest Rate means the variable annual interest rate calculated for each Interest Adjustment Period so as to equal the Index Rate for such Interest Adjustment Period (truncated at the 5th decimal place if necessary) plus the Margin. However, in no event will the Floating Interest Rate exceed the Capped Interest Rate.

  • Floating Rate Advance means an Advance which bears interest at the Floating Rate.

  • Floating Rate Loan means a Loan which bears interest at the Floating Rate.

  • Class C Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Maximum I-LTZZ Uncertificated Interest Deferral Amount With respect to any Distribution Date, the excess of (i) accrued interest at the REMIC I Remittance Rate applicable to REMIC I Regular Interest I-LTZZ for such Distribution Date on a balance equal to the Uncertificated Balance of REMIC I Regular Interest I-LTZZ minus the REMIC I Overcollateralized Amount, in each case for such Distribution Date, over (ii) Uncertificated Interest on REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9 and REMIC I Regular Interest I-LTM10 for such Distribution Date, with the rate on each such REMIC I Regular Interest subject to a cap equal to the lesser of (i) One-Month LIBOR plus the related Margin for the related Corresponding Certificate and (ii) the Net WAC Pass-Through Rate for the related Corresponding Certificate; provided, however, each cap shall be multiplied by a fraction, the numerator of which is the actual number of days elapsed in the related Interest Accrual Period and the denominator of which is 30.

  • Fixed Rate Certificates As specified in the Preliminary Statement.

  • Floating Rate Calculation Date means, for any Quarterly Floating Rate Period, the 30th day prior to the first day of such Quarterly Floating Rate Period.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Swap Account The account or accounts created and maintained pursuant to Section 4.08. The Swap Account must be an Eligible Account.

  • Maximum Uncertificated Accrued Interest Deferral Amount With respect to any Distribution Date, the excess of (i) accrued interest at the Uncertificated REMIC II Pass-Through Rate applicable to REMIC II Regular Interest ZZ for such Distribution Date on a balance equal to the Uncertificated Principal Balance of REMIC II Regular Interest ZZ minus the REMIC II Overcollateralization Amount, in each case for such Distribution Date, over (ii) the aggregate amount of Uncertificated Accrued Interest for such Distribution Date on the REMIC II Regular Interests (other than REMIC II Regular Interests AA, ZZ and IO), with the rate on each such REMIC II Regular Interest (other than REMIC II Regular Interests B-1, B-2, B-3 and B-4) subject to a cap equal to the least of (x) the One-Month LIBOR Pass Through Rate for the Corresponding Certificate, (y) 11.00% per annum and (z) the Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date, and with the rate on each of the REMIC II Regular Interests B-1, B-2, B-3 and B-4 subject to a cap equal to the lesser of (i) the per annum fixed rate specified in the definition of “Pass-Through Rate” for the Corresponding Certificate, and (ii) the related Net WAC Cap Rate for the REMIC III Regular Interest the ownership of which is represented by the Corresponding Certificate for the purpose of this calculation for such Distribution Date; provided, however, that solely for this purpose, the related cap with respect to each REMIC II Regular Interest (other than REMIC II Regular Interests AA, ZZ, B-1, B-2, B-3, B-4 and IO) shall be multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.

  • Mortgage Interest Rate Cap With respect to an Adjustable Rate Mortgage Loan, the limit on each Mortgage Interest Rate adjustment as set forth in the related Mortgage Note.

  • Fixed Rate Certificate A Certificate that provides for a payment of interest at a Fixed Pass-Through Rate.

  • Class A-1 Interest Rate means [ ]% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).