Required Coupon definition
Examples of Required Coupon in a sentence
For purposes of calculating the reduction in the amount referred to in clause (i) of the definition of Accrued Certificate Interest for each Class of Subordinate Certificates, such reduction shall be based upon the amount of interest accruing at the Required Coupon, based on, on such Class’ proportionate share, based on Class Principal Balance, of the related Group Subordinate Amount for that Distribution Date.
The Trust Administrator shall treat the beneficial owners of the Class 1-A-13 Certificates as having entered into an interest rate cap contract with respect to all amounts payable to the Class 1-A-13 Certificates in excess of the Required Coupon.
As to any Discount Mortgage Loan, a fraction (expressed as a percentage) the numerator of which is the Adjusted Net Mortgage Rate of such Discount Mortgage Loan and the denominator of which is the Required Coupon.
As to any Discount Mortgage Loan, a fraction (expressed as a percentage) the numerator of which is the excess of the Required Coupon over the Adjusted Net Mortgage Rate of such Discount Mortgage Loan and the denominator of which is such Required Coupon.
The Trust Administrator shall treat the beneficial owners of the Class 1-A-13 Certificates as having entered into an interest rate cap contract with respect to all amounts payable to the Class 1-A-13 Certificates in excess of the Required Coupon for Collateral Group 1.