Subordinate Maximum Interest Rate definition

Subordinate Maximum Interest Rate. For (i) the Subordinate Certificates; (ii) the Group 1 Senior Certificates, with respect to each Distribution Date after the Distribution Date on which the aggregate Class Principal Amount of the Group 2 Senior Certificates has been reduced to zero; and (iii) the Group 2 Senior Certificates, with respect to each Distribution Date after the Distribution Date on which the Class Principal Amount of the Group 1 Senior Certificates has been reduced to zero; the weighted average of the Pool 1 Maximum Interest Rate and the Pool 2 Maximum Interest Rate for such Distribution Date, weighted on the basis of (i) in the case of any Distribution Date on or before the date on which the aggregate Class Principal Amount of the Senior Certificates relating to any Mortgage Pool has been reduced to zero, the Pool Subordinate Amount and (ii) for any Distribution Date thereafter, such weighting shall be on the basis of the Pool Balance of each Mortgage Pool.
Sample 1Sample 2Sample 3
Subordinate Maximum Interest Rate. For each Distribution Date, the weighted average of the Pool 1 Maximum Interest Rate and the Pool 2 Maximum Interest Rate, weighted on the basis of the Pool Subordinate Amount for each such Mortgage Pool.
Sample 1Sample 2Sample 3
Subordinate Maximum Interest Rate. For (i) the Subordinate Senior Certificates; (ii) the Subordinate Certificates; (iii) the Group 1 Certificates, with respect to each Distribution Date after the Distribution Date on which the aggregate Class Principal Amount of the Group 2, Group 3 and Group 4 Certificates has been reduced to zero; (iv) the Group 2 Certificates, with respect to each Distribution Date after the Distribution Date on which the aggregate Class Principal Amount of the Group 1, Group 3 and Group 4 Certificates has been reduced to zero; (v) the Group 3 Certificates, with respect to each Distribution Date after the Distribution Date on which the aggregate Class Principal Amount of the Group 1, Group 2 and Group 4 Certificates has been reduced to zero; and (vi) the Group 4 Certificates, with respect to each Distribution Date after the Distribution Date on which the aggregate Class Principal Amount of the Group 1, Group 2 and Group 3 Certificates has been reduced to zero, the excess of (a) the weighted average of the Pool 1 Maximum Interest Rate, the Pool 2 Maximum Interest Rate, the Pool 3 Maximum Interest Rate and the Pool 4 Maximum Interest Rate for such Distribution Date, weighted on the basis of (i) in the case of any Distribution Date on or before the date on which the aggregate Class Principal Amount of the Senior Certificates related to any Mortgage Pool has been reduced to zero, the Pool Subordinate Amount and (ii) for any Distribution Date thereafter, such weighting shall be on the basis of the Pool Balance of each Mortgage Pool, over (b) the product of (x) the Class A9 Insurance Premium due to the Certificate Insurer for such Distribution Date, (y) a fraction, expressed as a percentage, the numerator of which is the Class Principal Amount of the Class A9 Certificates (before giving effect to distributions on such Distribution Date) and the denominator of which is the sum of the Pool Subordinate Amounts; provided, however, that on any Distribution Date after the Class Principal Amounts of the Senior Certificates related to any three Mortgage Pools have each been reduced to zero, the denominator shall be the Aggregate Pool Balance as of the beginning of the related Collection Period, and (z) a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the Accrual Period related to such Distribution Date.
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More Definitions of Subordinate Maximum Interest Rate

Subordinate Maximum Interest Rate. For (i) the Group 1 Certificates, with respect to each Distribution Date after the Distribution Date on which the aggregate Class Principal Amount of the Group 2 Certificates has been reduced to zero; (ii) the Group 2 Certificates, with respect to each Distribution Date after the Distribution Date on which the aggregate Class Principal Amount of the Group 1 Certificates has been reduced to zero; and (iii) the Class M6, Class M7, Class M8, Class M9, Class B1 and Class B2 Certificates, the weighted average of the Pool 1 Maximum Interest Rate and the Pool 2 Maximum Interest Rate for such Distribution Date, weighted on the basis of (i) in the case of any Distribution Date on or before the date on which the aggregate Class Principal Amount of the Senior Certificates and the Group Subordinate Certificates relating to any Mortgage Pool has been reduced to zero, the Pool Subordinate Amount and (ii) for any Distribution Date thereafter, such weighting shall be on the basis of the Pool Balance of each Mortgage Pool.
Sample 1
Subordinate Maximum Interest Rate. For each Distribution Date and the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7 and Class M8 Certificates, the weighted average of the Pool 1 Maximum Interest Rate, the Pool 2 Maximum Interest Rate and the Pool 3 Maximum Interest Rate (calculated without regard to the 0.021% reduction in the applicable Net Funds Cap on or prior to the Distribution Date in January 2009 related to each Mortgage Pool), weighted on the basis of the Pool Subordinate Amount for each such Mortgage Pool. For each Distribution Date and the Class M9, Class M10, Class M11 and Class M12 Certificates, the weighted average of the Pool 1 Maximum Interest Rate, the Pool 2 Maximum Interest Rate and the Pool 3 Maximum Interest Rate (calculated without regard to the 0.021% reduction in the applicable Net Funds Cap on or prior to the Distribution Date in January 2009 related to each Mortgage Pool), weighted on the basis of the Pool Subordinate Amount for each such Mortgage Pool, plus, on or prior to the Distribution Date in January 2009, the product of (a) 0.021% and (b) the aggregate Class Principal Amount of the Senior Certificates (other than any Notional Certificates) divided by the aggregate Class Principal Amount of the Class M9, Class M10, Class M11 and Class M12 Certificates.
Sample 1
Subordinate Maximum Interest Rate. For each Distribution Date and the Class M1, Class M2 and Class M3 Certificates, the weighted average of the Pool 1 Maximum Interest Rate and the Pool 2 Maximum Interest Rate, weighted on the basis of the Pool Subordinate Amount for each such Mortgage Pool. For each Distribution Date and the Class M4, Class M5, Class M6, Class M7 and Class M8 Certificates, the weighted average of the Pool 1 Maximum Interest Rate and the Pool 2 Maximum Interest Rate (calculated without regard to any Net Swap Payment or Swap Termination Payment owed by the Swap Counterparty or any proceeds received under the Interest Rate Cap Agreement), weighted on the basis of the Pool Subordinate Amount for each such Mortgage Pool, multiplied by a factor, the numerator of which is the beginning Class Principal Amounts of the Class M4, Class M5, Class M6, Class M7, Class M8 and Class M9 Certificates, and the denominator of which is the sum of the beginning Class Principal Amounts of the Class M4, Class M5, Class M6, Class M7 and Class M8 Certificates for such Distribution Date.
Sample 1

Related to Subordinate Maximum Interest Rate

  • Maximum Interest Rate means the rate of interest that results in the maximum amount of interest allowed by applicable law.

  • Minimum Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased.

  • Class E Interest Rate means 4.67% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Maximum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the maximum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be increased on any Adjustment Date.

  • Class A-1 Interest Rate means [ ]% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360-day year).

  • Interest Rate shall have the meaning assigned to such term or analogous term in the Mortgage Loan Agreement.

  • Note Interest Rate means a per annum rate equal to 0.02% in excess of LIBOR as determined by the Calculation Agent on the related LIBOR Determination Date with respect to each Interest Period.

  • Subordinate Class Percentage With respect to any Distribution Date and any Class of Subordinate Certificates, a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of such Class of Subordinate Certificates immediately prior to such date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date.

  • Maximum Mortgage Rate With respect to each Adjustable Rate Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Mortgage Rate thereunder.

  • Weighted Average Net Mortgage Interest Rate As to any Distribution Date, a rate per annum equal to the average, expressed as a percentage of the Net Mortgage Interest Rates of all Mortgage Loans that were Outstanding Mortgage Loans as of the Due Date in the month preceding the month of such Distribution Date, weighted on the basis of the respective Scheduled Principal Balances of such Mortgage Loans.

  • Lower-Tier Interest Rate As described in the Preliminary Statement.

  • Subordinate Net Funds Cap With respect to any Distribution Date, an amount equal to the weighted average of the Pool 1 Net Funds Cap and the Pool 2 Net Funds Cap, weighted on the basis of the Pool Subordinate Amount for each Mortgage Pool; provided, however, that on any Distribution Date after which the aggregate Class Principal Amount of the Senior Certificates relating to any Mortgage Pool has been reduced to zero, such weighting shall be on the basis of the Pool Balance of each Mortgage Pool.

  • Component Interest Rate Not applicable.

  • Prime Interest Rate means the publicly quoted variable annual basic rate of interest, published from time to time by the bankers of FUNDI as being their prime rate and as certified by the auditors of FUNDI, whose appointment it shall not be necessary to prove. Details of such bankers will be provided to the Applicant when so requested in writing.

  • Minimum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased on any Adjustment Date.

  • Interest Rate Cap means a Cap.

  • Class A Interest Rate has the meaning assigned to such term in the Indenture.

  • Class D Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Original Subordinate Principal Balance The aggregate of the Class Certificate Balances of the Subordinated Certificates as of the Closing Date.

  • Class B Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Interest Rate Cap Payment (a) With respect to the Class A-2, Class A-3 and Class A-4 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) one-month LIBOR rate as of the related reset date under the Class A-2, Class A-3 and Class A-4 Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, (ii) the applicable Class A-2 and Class A-3 notional amount set forth on Schedule A to the Class A-2, Class A-3 and Class A-4 Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Cap Agreement; (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) 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 Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Cap Agreement for such Distribution Date, calculated on an "actual/360" basis; (ii) the applicable Class M notional amount set forth on Schedule A to the Class M Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Cap Agreement; 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) 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 Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Cap Agreement for such Distribution Date, calculated on an "actual/360" basis; (ii) the applicable Class B notional amount set forth on Schedule A to the Class B Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Cap Agreement.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-3 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Maximum Net Mortgage Rate As to any Mortgage Loan and any date of determination, the Maximum Mortgage Rate for such Mortgage Loan minus the per annum rate at which the Servicing Fee is calculated.

  • 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.

  • Stripped Interest Rate For each Mortgage Loan, the excess, if any, of the Net Mortgage Rate for such Mortgage Loan over the Remittance Rate.