Group 2 Senior Net Funds Cap definition

Group 2 Senior Net Funds Cap. For any Distribution Date and the Class 2-A-1, Class 2-A-2, Class 2-A-3 and Class 2-A-4 Certificates will be a per annum rate equal to (1) (a) a fraction, expressed as a percentage, the numerator of which is the product of (x) the Optimal Interest Remittance Amount for Loan Group 2 and such date and (y) 12, and the denominator of which is the Aggregate Loan Group Collateral Balance of Loan Group 2 for the immediately preceding Distribution Date, less (b) a fraction, expressed as a percentage, the numerator of which is the product of (x) the Net Trust Swap Payment, if any, for such Distribution Date and (y) 12 and the denominator of which is the Aggregate Collateral Balance for the immediately preceding Distribution Date multiplied by (2) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the immediately preceding Accrual Period.
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Group 2 Senior Net Funds Cap. For any Distribution Date and the Class A-2, Class A-3 and Class A-4 Certificates will be a per annum rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (1) the Optimal Interest Remittance Amount for Loan Group 2 and such date and (2) 12, and the denominator of which is the Aggregate Loan Group Collateral Balance of Loan Group 2 for the immediately preceding Distribution Date, multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the immediately preceding Accrual Period.
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Group 2 Senior Net Funds Cap. For each Distribution Date, the annual rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (i) the Group 2 Optimal Interest Remittance Amount for such Distribution Date and (ii) 12, and the denominator of which is the aggregate Stated Principal Balance of the Group 2 Loans for the immediately preceding Distribution Date, multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Accrual Period. For federal income tax purposes, the equivalent of the foregoing shall be expressed as the weighted average of the REMIC I Remittance Rate on REMIC I Regular Interest I-LT2GRP, weighted on the basis of the Uncertificated Balance of such REMIC I Regular Interest.
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Examples of Group 2 Senior Net Funds Cap in a sentence

  • Any of the Group 1 Senior Net Funds Cap, the Group 2 Senior Net Funds Cap or the Subordinate Net Funds Cap, as applicable.

  • Subordinate For any Distribution Date and the Class M-1, Class M-2, Class M-3, Net Funds Cap: Class M-4, Class M-5, Class M-6, Class B-1, Class B-2, Class B-3, and Class B-4 Certificates, a per annum rate equal to a weighted average of (i) the Class A-1 Net Funds Cap and (ii) the Group 2 Senior Net Funds Cap for such Distribution Date; weighted on the basis of the Subordinate Group 1 Balance and Subordinate Group 2 Balance.

  • Subordinate For any Distribution Date and the Class M-1, Class M-2, Class M-3, Net Funds Cap: Class M-4, Class M-5, Class Net Funds Cap: M-6, Class B-1, Class B-2, Class B-3, and Class B-4 Certificates, a per annum rate equal to a weighted average of (i) the Class A-1 Net Funds Cap and (ii) the Group 2 Senior Net Funds Cap for such Distribution Date; weighted on the basis of the Subordinate Group 1 Balance and Subordinate Group 2 Balance.

  • Subordinate Net Funds Cap: For any Distribution Date and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class B-1, Class B-2, and Class B-3 Certificates, a per annum rate equal to a weighted average of (i) the Class A-1 Net Funds Cap and (ii) the Group 2 Senior Net Funds Cap for such Distribution Date; weighted on the basis of the Subordinate Group 1 Balance and Subordinate Group 2 Balance.

  • Subordinate Net Funds Cap: For any Distribution Date and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class B-1, Class B-2, Class B-3, and Class B-4 Certificates, a per annum rate equal to a weighted average of (i) the Class A-1 Net Funds Cap and (ii) the Group 2 Senior Net Funds Cap for such Distribution Date; weighted on the basis of the Subordinate Group 1 Balance and Subordinate Group 2 Balance.


More Definitions of Group 2 Senior Net Funds Cap

Group 2 Senior Net Funds Cap. For any Distribution Date and the Class 2-A-1, Class 2-A-2 and Class R Certificates will be a per annum rate equal to (1) (a) a fraction, expressed as a percentage, the numerator of which is the product of (x) the Optimal Interest Remittance Amount for Loan Group 2 and such date and (y) 12, and the denominator of which is the Aggregate Loan Group Balance of Loan Group 2 for the immediately preceding Distribution Date, less (b) a fraction, expressed as a percentage, the numerator of which is the product of (x) the Net Swap Payment, if any, for such Distribution Date and the Swap Termination Payments made pursuant to Sections 4.01(a)(iii), 4.01(c)(i) or 4.01(d)(i) on such Distribution Date and (y) 12 and the denominator of which is the Aggregate Loan Balance for the immediately preceding Distribution Date multiplied by (2) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the immediately preceding Accrual Period. For federal income tax purposes, the equivalent of the foregoing shall be expressed as the weighted average of the Uncertificated REMIC II Pass-Through Rate on REMIC II Regular Interest LT-2GRP, weighted on the basis of the Uncertificated Principal Balance of such REMIC II Regular Interest.
Sample 1Sample 2
Group 2 Senior Net Funds Cap. For any Distribution Date and the Class A-2, Class A-3 and Class A-4 Certificates will be a per annum rate equal to (a) a fraction, expressed as a percentage, the numerator of which is the product of (1) the Optimal Interest Remittance Amount for Loan Group 2 and such date and (2) 12, and the denominator of which is the Aggregate Loan Group Collateral Balance of Loan Group 2 for the immediately preceding Distribution Date, multiplied by (b) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the immediately preceding Accrual Period. Index: With respect to each adjustable-rate Mortgage Loan and with respect to each related Adjustment Date, the index as specified in the related Mortgage Note.
Sample 1
Group 2 Senior Net Funds Cap. For any Distribution Date and the Class 2A-1, Class 2A-2, Class 2A-3, Class A-R and Class P Certificates, will be the annual rate equal to a fraction, expressed as a percentage, (a) the numerator of which is (1) the sum of (A) the amount of interest which accrued on the Mortgage Loans in Loan Group 2 and (B) any amounts withdrawn from the Capitalized Interest Account to pay interest on the related Certificates for such Distribution Date, minus (2) the sum of (w) the related Expense Fee, (x) any portion of the Net Swap Payment allocable to Loan Group 2 payable to the Counterparty on such Distribution Date and (y) any portion of the Swap Termination Payment allocable to Loan Group 2 not due to a Counterparty Trigger Event and to the extent not paid by the Supplemental Interest Trust Trustee from any upfront payment received pursuant to any related replacement Swap Agreement that may be entered into by the Supplemental Interest Trust Trustee payable to the Counterparty on such Distribution Date and (b) the denominator of which is the product of (i) the Aggregate Loan Group Collateral Balance for Loan Group 2 for the immediately preceding Distribution Date (or as of the Cut-off Date for the first Distribution Date), and (ii)(x) in the case of the Class A-R Certificates and Class P Certificates, 1/12 and (y) in the case of the Class 2A-1, Class 2A-2 and Class 2A-3 Certificates, the actual number of days in the immediately preceding Interest Accrual Period divided by 360. For federal income tax purposes, the equivalent of the foregoing shall be expressed as the weighted average of the Uncertificated REMIC 3 Pass-Through Rate on REMIC 3 Regular Interest MTII-2GRP, weighted on the basis of the Uncertificated Principal Balance of such REMIC 2 Regular Interest.
Sample 1

Related to Group 2 Senior Net Funds Cap

  • Subordinate Net Funds Cap With respect to any Distribution Date, an amount equal to the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, that on any Distribution Date after which the aggregate Class Principal Amount of the Senior Certificates relating to any Mortgage Pool has been reduced to zero, such weighting shall be on the basis of the Pool Balance of each Mortgage Pool.

  • Net Funds Cap The Pool 1 Net Funds Cap, the Pool 2 Net Funds Cap or the Subordinate Net Funds Cap, as the context requires.

  • Group I Senior Percentage As of each Distribution Date, the lesser of 100% and a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of the Group I Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) in Loan Group I immediately prior to such Distribution Date.

  • Group II Senior Percentage For any Distribution Date, the lesser of (i) 100% and (ii) the aggregate Class Principal Balance of the Group II-A and Residual Certificates divided by the aggregate Class Principal Balance of the Group II Loans (exclusive of the Class II-P Fraction thereof, with respect to any Class II-P Mortgage Loan), in each case immediately before such Distribution Date.

  • Group 2 Senior Certificates As specified in the Preliminary Statement.

  • Available Funds Cap Any of the Class A-1 Available Funds Cap, the Class A-2 Available Funds Cap or the Weighted Average Available Funds Cap.

  • Group 1 Senior Certificates As specified in the Preliminary Statement.

  • Senior Percentage As of any Distribution Date, the lesser of 100% and a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class A-P Certificates) immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date.

  • Group II Senior Certificates As specified in the Preliminary Statement.

  • Group 3 Senior Certificates As specified in the Preliminary Statement.

  • Group I Senior Certificates As specified in the Preliminary Statement.

  • Group 2 Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group 2 Senior Percentage of the Principal Payment Amount for Loan Group 2, (b) the Group 2 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 2 and (c) the Group 2 Senior Liquidation Amount.

  • Subordinate Class Percentage With respect to any Distribution Date and any Class of Subordinate Certificates, a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of such Class of Subordinate Certificates immediately prior to such date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date.

  • Group 4 All of the Group 4 Certificates.

  • Super Senior Certificates As specified in the Preliminary Statement.

  • Group III Senior Principal Distribution Amount As to any Distribution Date, the sum of (i) the Group III Senior Percentage of the Principal Payment Amount for Loan Group III, (ii) the applicable Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group III, and (iii) the Group III Senior Liquidation Amount.

  • Group 1 Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group 1 Senior Percentage of the Principal Payment Amount for Loan Group 1, (b) the Group 1 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 1 and (c) the Group 1 Senior Liquidation Amount.

  • Group II Senior Principal Distribution Amount As to any Distribution Date, the sum of (i) the Group II Senior Percentage of the Principal Payment Amount for Loan Group II, (ii) the applicable Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group II, and (iii) the Group II Senior Liquidation Amount.

  • Subordinate Percentage As of any Distribution Date and, with respect to any Mortgage Pool comprised of two or more Loan Groups, any Loan Group, 100% minus the related Senior Percentage as of such Distribution Date.

  • Loan Group 4 The Group 4 Mortgage Loans.

  • Aggregate Senior Percentage With respect to any Distribution Date, the fraction, expressed as a percentage, the numerator of which is equal to the aggregate Class Certificate Balance of the Senior Certificates immediately prior to such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of all the Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to that prior Due Date).

  • Senior Target Amount With respect to each Distribution Date, an amount equal to the lesser of (a) the product of (i) 77.30% and (ii) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the Collection Period exceeds (ii) 0.50% of the Cut-off Date Balance.

  • Class H Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to the Weighted Average Net Mortgage Rate.

  • Group 3 All of the Group 3 Certificates.

  • Group I Senior Principal Distribution Amount For any Distribution Date, an amount equal to the sum of (a) the Group I Senior Percentage of the Principal Payment Amount for Loan Group I, (b) the Group I Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group I and (c) the Group I Senior Liquidation Amount.

  • Loan Group I Cap With respect to the Group I Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group I Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.