Interest Rate Cap Payment. (a) With respect to the Group I Class A Certificates and the first 33 Distribution Dates, the amount, if any, equal to the product, determined on an "actual/360" basis, of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Group I Class A Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, (ii) the applicable Group I Class A notional amount set forth on Schedule A to the Group I Class A Cap Agreement for such Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; (b) with respect to the Group II Class A Certificates and the first 33 Distribution Dates, the amount, if any, equal to the product, determined on an "actual/360" basis, of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Group II Class A Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, (ii) the applicable Group II Class A notional amount set forth on Schedule A to the Group II Class A Cap Agreement for such Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; (c) with respect to the Class M Certificates and the first 45 Distribution Dates, the amount, if any, equal to the product, determined on an "actual/360" basis, of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, (ii) the applicable Class M notional amount set forth on Schedule A to the Class M Cap Agreement for such Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; and (d) with respect to the Class B Certificates and the first 45 Distribution Dates, the amount, if any, equal to the product, determined on an "actual/360" basis,...
Interest Rate Cap Payment. With respect to the Distribution Date, the payment, if any, required to be made by the Cap Provider under the Interest Rate Cap Agreement with respect to such Distribution Date.
Interest Rate Cap Payment. With respect to each Distribution Date, any payment required to be made by the Cap Counterparty to the Supplemental Interest Trust pursuant to the terms of the Interest Rate Cap Agreement.
Examples of Interest Rate Cap Payment in a sentence
Any Class Interest Rate Cap Payment shall be deposited into the Series Interest Funding Account.
The Interest Rate Cap pays the Trust the difference between the then current 1-month LIBOR rate and 6.90% (on an Actual/360 day count basis) if the 1-month LIBOR rate exceeds 6.90% ("the Interest Rate Cap Payment") as described herein.
Unless terminated earlier, the Interest Rate Cap Agreement will terminate on the Interest Rate Cap Payment Date in June 2011 (after the payment due on such date is paid).
However, there continue to be significant gaps in understanding the difficulties involved and the way in which they may be addressed therapeutically (Kraus et al., 2014; Duffy et al., 2016; Sniewski et al., 2018).
The proceeds of the Subordinated Loan 1.6 Portfolio Informationwill be used to pay certain start-up costs and expenses incurred by the Issuer in connection with the issuance of the Notes including, but not limited to, the Initial Interest Rate Cap Payment to be paid on the Closing Date.
More Definitions of Interest Rate Cap Payment
Interest Rate Cap Payment. (a) With respect to the Group II Class A Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 35 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Group II Class A Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class A-2, Class A-3 and Class A-4 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; (b) with respect to the Class M Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class M-1, Class M-2 and Class M-3 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date; and (c) with respect to the Class B Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) the one-month LIBOR rate as of the related reset date under the Class B Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, and (ii) the applicable Class B-1, Class B-2 and Class B-3 notional amount set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date.
Interest Rate Cap Payment means, with respect to any Distribution ------------------------- Date, any payment required to be made by the Interest Rate Cap Provider to the Trust pursuant to an Interest Rate Cap with respect to such Distribution Date.
Interest Rate Cap Payment. The Class A Interest Rate Cap Payment, the Class M Interest Rate Cap Payment and/or the Class B Interest Rate Cap Payment, as applicable.
Interest Rate Cap Payment means, with respect to any Payment Date, the amount payable on such Payment Date by the Qualified Interest Rate Cap Provider to the Series 2007-1 Collection Account with the Trustee pursuant to the Series 2007-1 Interest Rate Cap.
Interest Rate Cap Payment means any payment made to the Collection Account pursuant to an Interest Rate Cap.
Interest Rate Cap Payment. For the first 57 Distribution Dates following the Closing Date, the amount, if any, equal to the product of (a) the excess, if any, of the lesser of (i) one-month LIBOR (as determined pursuant to the Cap Agreement) as of the related reset date and (ii) 10.00% over a cap strike rate set forth on the interest rate cap agreement schedule attached to the Cap Agreement, and (b) the interest rate cap notional amount for such date set forth on such schedule.
Interest Rate Cap Payment. Beginning on the first Distribution Date and continuing through the immediately succeeding 26 Distribution Dates thereafter, an amount, if any, equal to the product of (a) the lesser of (i) (A) prior to the reset date under the Cap Agreement occurring in May 2005, the percentage by which one-month LIBOR (as defined in the Cap Agreement) as of the related reset date under the Cap Agreement exceeds 6.50% or (B) on and after the reset date under the Cap Agreement occurring in May 2005 until the reset date under the Cap Agreement occurring in November 2005, the percentage by which one-month LIBOR (as defined in the Cap Agreement) as of the related reset date under the Cap Agreement exceeds 7.50% and (ii) (A) prior to the reset date under the Cap Agreement occurring in May 2005, 2.00% or (B) on and after the reset date under the Cap Agreement occurring in May 2005 until the reset date under the Cap Agreement occurring in November 2005, 1.00%, as applicable, and (b) the product of the notional balance and multiplier for such reset date as set forth on the schedule attached to the Cap Agreement, calculated on an "actual/360" basis.