Interest Rate Cap definition

Interest Rate Cap means a Cap.

Interest Rate Cap means any interest rate cap transaction entered into pursuant to the Agreement between Party A and Party B as evidenced by a Confirmation;

Interest Rate Cap means the establishment of an upper limit for a variable interest rate.

Examples of Interest Rate Cap in a sentence

• Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 0.015 9.999999 Modified Loans Only >= 0 to <= 1 152 Pre-Modification Subsequent Interest Rate Cap Maximum increment the rate can adjust upward AFTER the initial rate adjustment (prior to modification) – Only provide if the Cap is modified.

• The conclusion of a contract takes place by acceptance of a binding quotationor by placement of a purchase order.

• Adjustable Rate Mortgages (ARMs) Numeric – Integer 60 999 Hybrid ARMs Only >= 1 to <=240 47 Initial Interest Rate Cap (Change Down) The maximum percentage by which the mortgage note rate may decrease at the first interest rate adjustment date.

• Borrower acknowledges that the terms of the Interest Rate Cap Agreement may prohibit public sales, that the Rate Cap Collateral may not be of the type appropriately sold at public sales, and that such sales may be prohibited by law.

• Any Class Interest Rate Cap Payment shall be deposited into the Series Interest Funding Account.

More Definitions of Interest Rate Cap

Interest Rate Cap. For any Distribution Date and the Certificates (other than the Class B-IO Certificates and the Residual Certificates), the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the related Due Period, in each case, adjusted to reflect the accrual of interest based on the actual number of days elapsed in the related Accrual Period divided by 360.

Interest Rate Cap means an options contract which puts an upper limit on a floating exchange rate. The contract protects the holder from rises in short-term interest rates by making a payment to the holder when an underlying interest rate (the index or reference interest rate) exceed a specified strike rate (the cap rate).

Interest Rate Cap means that the Coupon Interest cannot be higher than the fixed Interest Rate Cap.

Interest Rate Cap means any interest rate cap entered into in accordance with the provisions of Clause 4.4 (Interest Rate Caps) of the Issuer Facility Agreement, including, the Interest Rate Cap Documents with respect thereto.

Interest Rate Cap shall have the meaning set forth in Section 1.12.

Interest Rate Cap. Each interest rate cap agreement, including all schedules and confirmations related thereto, between the Trust and the Cap Counterparty, in effect on the [Initial] Closing Date, as the same may be amended, supplemented, renewed, extended or replaced from time to time.]

Interest Rate Cap means a ceiling that sets an upper limit for the Variable Rate.