Periodic Interest Rate Cap. As to each adjustable rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note.
Periodic Interest Rate Cap. As to each Adjustable Rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of the Mortgage Note. Person: Any individual, corporation, partnership, joint venture, limited liability company, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof.
Periodic Interest Rate Cap. As to each Adjustable Rate Mortgage Loan and any Adjustment Date therefore, a number of percentage points per annum that is set forth in the related Mortgage Loan Schedule and in the related Mortgage Note, which is the maximum increase or decrease in the Mortgage Interest Rate (without regard to the Minimum Mortgage Interest Rate or the Maximum Mortgage Interest Rate) on such Adjustment Date from the Mortgage Interest Rate in effect immediately prior to such Adjustment Date. Person: Any individual, corporation, partnership, joint venture, limited liability company, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof.
Examples of Periodic Interest Rate Cap in a sentence
The Group 3 Mortgage Loans have a weighted average Periodic Interest Rate Cap of 4.993% for the first adjustment date and 2.000% for every adjustment date thereafter.
The Group 4 Mortgage Loans have a Periodic Interest Rate Cap of 5.000% for the first adjustment date and 2.000% for every adjustment date thereafter.
The Group 1 Mortgage Loans have a weighed average Periodic Interest Rate Cap of 2.014% for the first adjustment date and 2.000% for every adjustment date thereafter.
The Group 5 Mortgage Loans have a Periodic Interest Rate Cap of 5.000% for the first adjustment date and 2.000% for every adjustment date thereafter.
More Definitions of Periodic Interest Rate Cap
Periodic Interest Rate Cap or "periodic cap" means, with respect to ARMs, the maximum change in the coupon rate permissible under the terms of the loan at each coupon adjustment date. Periodic caps limit both the speed by which the coupon rate can adjust upwards in a rising interest rate environment and the speed by which the coupon rate can adjust downwards in a falling rate environment.
Periodic Interest Rate Cap. As to any Adjustable Rate Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date pursuant to the terms of Mortgage Note. Person: An individual, corporation, limited liability company, partnership, joint venture, association, joint-stock company, trust, unincorporated organization or government or any agency or political subdivision thereof. Pipeline Sale Agreement: As defined in the Asset Purchase Agreement. Principal Advance: Any Unscheduled Principal Advance. Principal Balance: As to each Mortgage Loan as of any date of determination, the outstanding and unpaid principal balance of the Mortgage Loan as of such date (including, without limitation all related servicing fees, Principal Advances, accrued interest and Servicing Advances to the extent permitted to be added to the principal balance of the Mortgage Loan) after giving effect to payments or recoveries of principal on or before such date.
Periodic Interest Rate Cap. With respect to each Adjustable Rate Mortgage Loan and any Adjustment Date therefor, a number of percentage points per annum that is set forth in the related Data File and in the related Mortgage Note, which is the maximum amount by which the Mortgage Interest Rate for such Adjustable Rate Mortgage Loan may increase (without regard to the Maximum Mortgage Interest Rate) or decrease (without regard to the Minimum Mortgage Interest Rate) on such Adjustment Date from the Mortgage Interest Rate in effect immediately prior to such Adjustment Date. Person: Any individual, corporation, partnership, joint venture, limited liability company, association, joint-stock company, trust, unincorporated organization, government or any agency or political subdivision thereof.
Periodic Interest Rate Cap. As to each Adjustable Rate Mortgage Loan and any Adjustment Date therefore, a number of percentage points per annum that is set forth in the related Mortgage Loan Schedule and in the related Mortgage Note, which is the maximum increase or decrease in the Mortgage Interest Rate (without regard to the Minimum Mortgage Interest Rate or the Maximum Mortgage Interest Rate) on such Adjustment Date from the Mortgage Interest Rate in effect immediately prior to such Adjustment Date.
Periodic Interest Rate Cap or "periodic cap" means, with respect to ARMs, the maximum change in the coupon rate permissible under the terms of the loan at each coupon adjustment date. Periodic caps limit both the speed by which the
Periodic Interest Rate Cap. With respect to each Adjustable Rate Mortgage Loan, the provision of a Mortgage Note that provides for an absolute maximum amount by which the Mortgage Interest Rate therein may increase or decrease on an Adjustment Date above the Mortgage Interest Rate previously in effect, equal to the rate set forth in the Mortgage Loan Schedule, as applicable.
Periodic Interest Rate Cap. As to each Mortgage Loan, the maximum increase or decrease in the Mortgage Interest Rate on any Adjustment Date.