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"type": "clause", "offset": [247, 255]}, {"key": "principal-balances", "type": "definition", "offset": [279, 297]}, {"key": "day-of", "type": "clause", "offset": [344, 350]}, {"key": "after-giving", "type": "clause", "offset": [408, 420]}, {"key": "principal-due", "type": "definition", "offset": [453, 466]}, {"key": "due-period", "type": "clause", "offset": [486, 496]}, {"key": "to-the-extent", "type": "clause", "offset": [498, 511]}, {"key": "collections-of-principal", "type": "definition", "offset": [550, 574]}, {"key": "prepayment-period", "type": "definition", "offset": [603, 620]}, {"key": "actual-number-of-days", "type": "clause", "offset": [707, 728]}, {"key": "interest-accrual-period", "type": "definition", "offset": [752, 775]}, {"key": "a-percentage", "type": "definition", "offset": [809, 821]}, {"key": "net-swap-payment", "type": "definition", "offset": [883, 899]}, {"key": "swap-provider", "type": "definition", "offset": [912, 925]}, {"key": "of-the-mortgage-loans", "type": 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of the outstanding Stated Principal Balances of the Group I Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans. For any Distribution Date with respect to the Group II Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group II Mortgage Loans, weighted on the basis of the outstanding Stated Principal Balances of the Group II Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans. For any Distribution Date with respect to the Mezzanine Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average, weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of the applicable Loan Group, the current aggregate Certificate Principal Balance of the related Classes of Class A Certificates, of (i) the weighted average of the Expense Adjusted Net Mortgage Rates of the Group I Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (ii) the weighted average of the Expense Adjusted Net Mortgage Rates of the Group II Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans.", "size": 32, "samples": [{"hash": "hsGk0THCxSn", "uri": "/contracts/hsGk0THCxSn#maximum-cap-rate", "label": "Pooling and Servicing Agreement (Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2005-Whq4)", "score": 19.0, "published": true}, {"hash": "26Wi9ejMVuN", "uri": "/contracts/26Wi9ejMVuN#maximum-cap-rate", "label": "Pooling and Servicing Agreement (Park Place Securities Inc. 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With respect to the Class 3-A-1 Certificates, 8.90% per annum. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.", "size": 14, "samples": [{"hash": "b1iq8IULlhO", "uri": "/contracts/b1iq8IULlhO#maximum-cap-rate", "label": "Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-2)", "score": 19.0, "published": true}, {"hash": "21AstbUV0YL", "uri": "/contracts/21AstbUV0YL#maximum-cap-rate", "label": "Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-2)", "score": 19.0, "published": true}], "hash": "6f44302d719ca0dff917fa13de695c30", "id": 6}, {"snippet_links": [{"key": "distribution-date", "type": "definition", "offset": [8, 25]}, {"key": "class-a-1-certificates", "type": "definition", "offset": [46, 68]}, {"key": "per-annum", "type": "clause", "offset": [72, 81]}, {"key": "equal-to", "type": "definition", "offset": [87, 95]}, {"key": "sum-of", "type": "clause", "offset": [100, 106]}, {"key": "the-product", "type": "clause", "offset": [111, 122]}], "snippet": "For any Distribution Date with respect to the Class A-1 Certificates, a per annum rate equal to the sum of (i) the product of (x)", "size": 11, "samples": [{"hash": "iAUGaq1EluS", "uri": "/contracts/iAUGaq1EluS#maximum-cap-rate", "label": "Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc Asset-Backed Pass-Through Certificates Series 2004-R7)", "score": 18.0, "published": true}, {"hash": "gaqbebt682o", "uri": "/contracts/gaqbebt682o#maximum-cap-rate", "label": "Pooling and Servicing Agreement (Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-Whq1)", "score": 18.0, "published": true}, {"hash": "cSbjFAOlfAP", "uri": "/contracts/cSbjFAOlfAP#maximum-cap-rate", "label": "Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc Asset-Backed Pass-Through Certificates Series 2004-R7)", "score": 18.0, "published": true}], "hash": "60f8c3b7921bfa90372aee147b873d20", "id": 7}, {"snippet_links": [{"key": "distribution-date", "type": "definition", "offset": [8, 25]}, {"key": "per-annum", "type": "clause", "offset": [48, 57]}, {"key": "net-wac-cap", "type": "definition", "offset": [92, 103]}, {"key": "the-assumption", "type": "clause", "offset": [160, 174]}, {"key": "adjustable-rate-mortgage-loan", "type": "clause", "offset": [189, 218]}, {"key": "related-group", "type": "definition", "offset": [226, 239]}, {"key": "interest-rate", "type": "definition", "offset": [247, 260]}, {"key": "equal-to", "type": "definition", "offset": [261, 269]}, {"key": "maximum-rate", "type": "clause", "offset": [274, 286]}, {"key": "terms-of-the", "type": "clause", "offset": [307, 319]}, {"key": "mortgage-note", "type": "clause", "offset": [328, 341]}, {"key": "fixed-rate-mortgage-loan", "type": "clause", "offset": [357, 381]}, {"key": "mortgage-loan-group", "type": "definition", "offset": [456, 475]}, {"key": "group-ii", "type": "definition", "offset": [488, 496]}], "snippet": "For any Distribution Date and for each Group, a per annum rate that would equal the related Net WAC Cap for such date if such Net WAC Cap were determined under the assumption that (i) each adjustable rate Mortgage Loan in the related Group had an interest rate equal to the maximum rate permitted under the terms of the related mortgage note, and (ii) each fixed rate Mortgage Loan in the related Group had an interest rate equal to its stated fixed rate. Mortgage Loan Group: Group I or Group II.", "size": 11, "samples": [{"hash": "gMSbcIoP4I8", "uri": "/contracts/gMSbcIoP4I8#maximum-cap-rate", "label": "Pooling and Servicing Agreement (Saxon Asset Securities Trust 2002-2)", "score": 19.0, "published": true}, {"hash": "9jHtFPrwt0X", "uri": "/contracts/9jHtFPrwt0X#maximum-cap-rate", "label": "Pooling and Servicing Agreement (Saxon Asset Securities Trust 2002-2)", "score": 19.0, "published": true}], "hash": "5ca8ee84ccf8d2fe31106254f4c9bfe4", "id": 8}, {"snippet_links": [{"key": "distribution-date", "type": "definition", "offset": [8, 25]}, {"key": "the-class-a-certificates", "type": "clause", "offset": [30, 54]}, {"key": "mezzanine-certificates", "type": "definition", "offset": [60, 82]}, {"key": "the-class-b-certificates", "type": "clause", "offset": [87, 111]}, {"key": "per-annum", "type": "clause", "offset": [115, 124]}, {"key": "equal-to", "type": "definition", "offset": [130, 138]}, {"key": "the-product", "type": "clause", "offset": 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the actual number of days elapsed in the related Accrual Period.", "size": 10, "samples": [{"hash": "3to7hjJSHAJ", "uri": "/contracts/3to7hjJSHAJ#maximum-cap-rate", "label": "Pooling and Servicing Agreement (Equifirst Mortgage Loan Trust 2005-1)", "score": 21.0, "published": true}, {"hash": "hhtyb4oSugM", "uri": "/contracts/hhtyb4oSugM#maximum-cap-rate", "label": "Pooling and Servicing Agreement (Soundview Home Loan Trust 2004-1)", "score": 18.0, "published": true}, {"hash": "euoGX8seg9i", "uri": "/contracts/euoGX8seg9i#maximum-cap-rate", "label": "Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2004-Ff11 Asset-Backed Certificates, Series 2004-Ff11)", "score": 18.0, "published": true}], "hash": "6acc0c46835400c50ef3813723a6a02c", "id": 9}, {"snippet_links": [{"key": "the-class-a-certificates", "type": "clause", "offset": [42, 66]}, {"key": "mezzanine-certificates", "type": "definition", "offset": [75, 97]}, {"key": "per-annum", "type": "clause", "offset": [101, 110]}, {"key": "equal-to", "type": "definition", "offset": [116, 124]}, {"key": "the-product", "type": "clause", "offset": [125, 136]}, {"key": "weighted-average", "type": "clause", "offset": [148, 164]}, {"key": "of-the-mortgage-loans", "type": "clause", "offset": [212, 233]}, {"key": "based-on", "type": "clause", "offset": [244, 252]}, {"key": "principal-balances", "type": "definition", "offset": [269, 287]}, {"key": "day-of", "type": "clause", "offset": [304, 310]}, {"key": "calendar-month", "type": "definition", "offset": [315, 329]}, {"key": "the-distribution-date", "type": "definition", "offset": [359, 380]}, {"key": "after-giving", "type": "clause", "offset": [389, 401]}, {"key": "collections-of-principal", "type": "definition", "offset": [424, 448]}, {"key": "prepayment-period", "type": "definition", "offset": [477, 494]}, {"key": "actual-number-of-days", "type": "clause", "offset": [581, 602]}, {"key": "interest-accrual-period", "type": "definition", "offset": [626, 649]}], "snippet": "For any Distribution Date with respect to the Class A Certificates and the Mezzanine Certificates, a per annum rate equal to the product of (x) the weighted average of the Expense Adjusted Maximum Mortgage Rates of the Mortgage Loans, weighted based on their Scheduled Principal Balances as of the first day of the calendar month preceding the month in which the Distribution Date occurs (after giving effect to unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period.", "size": 10, "samples": [{"hash": "kQSfopip1V2", "uri": "/contracts/kQSfopip1V2#maximum-cap-rate", "label": "Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asst Back Ps THR Cert Ser 2003-2)", "score": 18.0, "published": true}, {"hash": "hpvfuzHxN9l", "uri": "/contracts/hpvfuzHxN9l#maximum-cap-rate", "label": "Pooling and Servicing Agreement (Ameriquest Mortgage Sec as-BCKD Pass-THR Cert Ser 2003-7)", "score": 18.0, "published": true}, {"hash": "cuyVsyXHr9N", "uri": "/contracts/cuyVsyXHr9N#maximum-cap-rate", "label": "Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset BCKD Ps THR Cert Ser 2002-Ar1)", "score": 18.0, "published": true}], "hash": "7bb4c55acd6ab9d2867264d77b172491", "id": 10}], "next_curs": "Cl0SV2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjkLEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIZbWF4aW11bS1jYXAtcmF0ZSMwMDAwMDAwYQyiAQJlbhgAIAA=", "definition": {"title": "Maximum Cap Rate", "snippet": "For any Distribution Date with respect to the Group I Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group I Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Group II Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group II Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group II Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Mezzanine Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average (weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of the applicable Loan Group, the current Certificate Principal Balance of the related Class A Certificates) of the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans and the Group II Mortgage Loans, in each case, weighted on the basis of the outstanding Stated Principal Balances of the related Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12.", "size": 424, "id": "maximum-cap-rate", "examples": ["For any Distribution Date and this Certificate, the Formula Rate is the lesser of (a) One-Month LIBOR plus the Certificate Margin and (b) the <strong>Maximum Cap Rate</strong>.", "For any Distribution Date and this Certificate, the Formula Rate is the lesser of (i) One-Month LIBOR plus the Certificate Margin and (ii) the <strong>Maximum Cap Rate</strong>.", "The Pass-Through Rate applicable to the calculation of interest payable with respect to this Certificate on any Distribution Date shall be the least of (x) the related Net WAC Pass-Through Rate for such Distribution Date, (y) One-Month LIBOR plus the related Certificate Margin and (z) the related <strong>Maximum Cap Rate</strong>.", "For any Distribution Date and this Certificate, the Formula Rate is the lesser of (i) One- Month LIBOR plus the Certificate Margin and (ii) the <strong>Maximum Cap Rate</strong>.", "For the Class 1-A-1 and Class 3-A-1 Certificates and any Distribution Date on or prior to the Yield Maintenance Agreement Termination Date, an amount equal to the product of (a) the excess, if any, of (i) the lesser of one-month LIBOR, as determined in the Yield Maintenance Agreement, and the related <strong>Maximum Cap Rate</strong> over (ii) the related Cap Strike Rate, (b) the related Yield Maintenance Notional Amount set forth for such Distribution Date in the table in Schedule IV or Schedule V, and (c) one-twelfth.", "For the Class 5-A-1 Certificates and any Distribution Date on or prior to the Yield Maintenance Agreement Termination Date, an amount equal to the product of (a) the excess, if any, of (i) the lesser of one-month LIBOR, as determined in the Yield Maintenance Agreement, and the <strong>Maximum Cap Rate</strong> over (ii) the related Cap Strike Rate, (b) the Yield Maintenance Notional Amount set forth for such Distribution Date in the table in Schedule IV, and (c) one-twelfth.", "For the Class V-A-1 Certificates and any Distribution Date on or prior to the Yield Maintenance Agreement Termination Date, an amount equal to the product of (a) the excess, if any, of (i) the lesser of one-month LIBOR as determined in the Yield Maintenance Agreement and the <strong>Maximum Cap Rate</strong> over (ii) the Cap Strike Rate, (b) the Yield Maintenance Notional Amount set forth for such Distribution Date in the table in Schedule VII and (c) one-twelfth.", "For any subsequent Interest Accrual Period, a per annum rate equal to the lesser of (i) the lesser of (a) LIBOR plus 0.72% per annum (or LIBOR plus 1.080% per annum, after the Optional Termination Date) and (b) the <strong>Maximum Cap Rate</strong> for the related Distribution Date, and (ii) the Net WAC Rate for the related Distribution Date.", "For the Class II-A-1, Class II-A-5 and Class II-A-7 Certificates and any Distribution Date on or prior to the related Yield Maintenance Agreement Termination Date, an amount equal to the product of (a) the excess, if any, of (i) the lesser of Certificate Index and the related <strong>Maximum Cap Rate</strong> over (ii) the related Cap Strike Rate, (b) the related Yield Maintenance Notional Amount set forth for such Distribution Date in the table in Schedule IX, Schedule X or Schedule XI, as applicable, and (c) one-twelfth.", "Interest will accrue on the Class A Certificates during each subsequent Interest Accrual Period at a rate equal to the lesser of (i) the lesser of (a) LIBOR plus 0.29% per annum (or LIBOR plus 0.58% per annum, after the Optional Termination Date) and (b) the <strong>Maximum Cap Rate</strong> for the related Distribution Date, and (ii) the Net Adjusted WAC Rate for the related Distribution Date."], "related": [["net-wac-cap-rate", "Net WAC Cap Rate", "Net WAC Cap Rate"], ["maximum-credit-amount", "Maximum Credit Amount", "Maximum Credit Amount"], ["maximum-face-amount", "Maximum Face Amount", "Maximum Face Amount"], ["cap-rate", "Cap Rate", "Cap Rate"], ["maximum-available-amount", "Maximum Available Amount", "Maximum Available Amount"]], "related_snippets": [], "updated": "2025-07-06T21:58:29+00:00"}, "json": true, "cursor": ""}}