Upper Tier REMIC Net WAC Cap. In the case of the Class UTA-1 Interest and the Residual Interest, a per annum rate equal to the weighted average of the interest rate of the Class LTII1B Interest for such Distribution Date. In the case of the Class UTA-2A, Class UTA-2B, Class UTA-2C and Class UTA-2D Interests, a per annum rate equal to the weighted average of the interest rate for the Class LTII2B for such Distribution Date. In the case of the Class UTM-1, Class UTM-2, Class UTM-3, Class UTM-4, Class UTM-5, Class UTM-6, Class UTB-1, Class UTB-2 and Class UTB-3 Interests, a per annum rate equal to the weighted average of the interest rates of Class LTII1B and Class LTII2B Interests for such Distribution weighted, respectively, on the basis of the uncertificated principal balances of the Class LTII1A and the Class LTII2A Interests.

Upper Tier REMIC Net WAC Cap. For any Distribution Date, the Net Rate.

Upper Tier REMIC Net WAC Cap. In the case of the Class UTA-1 Interest and the Residual Interest, a per annum rate equal to the weighted average of the interest rate of the Class LTII1B Interest for such Distribution Date. In the case of the Class UTA-2A, Class UTA-2B, Class UTA-2C and Class UTA-2D Interests, a per annum rate equal to the weighted average of the interest rate for the Class LTII2B for such Distribution Date (adjusted, in the case of the Class UTA-2B, Class UTA-2C and Class UTA-2D Interests, to reflect accruals on the basis of a 360 day year consisting of twelve 30 day months). In the case of the Class UTM-1, Class UTM-2, Class UTM-3, Class UTM-4, Class UTM-5, Class UTM-6, Class UTB-1, Class UTB-2 and Class UTB-3 Interests, a per annum rate equal to the weighted average of the interest rates of Class LTII1B and Class LTII2B Interests for such Distribution weighted, respectively, on the basis of the uncertificated principal balances of the Class LTII1A and the Class LTII2A Interests.

## Examples of *Upper Tier REMIC Net WAC Cap* in a sentence

For federal income tax purposes, the pass-through rate on each REMIC Regular Interest (other than the Uncertificated Class C Interest and the Class UT-IO Interest) and on the sole class of residual interest in the Upper Tier REMIC shall be subject to a cap equal to the

**Upper Tier REMIC Net WAC Cap**.

## More Definitions of *Upper Tier REMIC Net WAC Cap*

Upper Tier REMIC Net WAC Cap. In the case of the Class UTA-1 Interest and the Residual Interest, a per annum rate equal to the weighted average of the interest rate of the Class LTII1B Interest for such Distribution Date. In the case of the Class UTA-2A, Class UTA-2B, Class UTA-2C and Class UTA-2D Interests, a per annum rate equal to the weighted average of the interest rate for the Class LTII2B Interest for such Distribution Date. In the case of the Class UTM-1, Class UTM-2, Class UTM-3, Class UTM-4, Class UTM-5, Class UTM-6, Class UTB-1, Class UTB-2, Class UTB-3 and Class UTB-4 Interests, a per annum rate equal to the weighted average (adjusted, in the case of the Class UTB-1, Class UTB-2 and Class UTB-3 Interests, to reflect accruals on the basis of a 360 day year consisting of twelve 30 day months) of the interest rates of Class LTII1B and Class LTII2B Interests for such Distribution weighted, respectively, on the basis of the uncertificated principal balances of the Class LTII1A and the Class LTII2A Interests.

Upper Tier REMIC Net WAC Cap. In the case of the Class UTA-1 Interest and the Residual Interest, a per annum rate equal to the weighted average of the interest rate of the Class LTII1B Interest for such Distribution Date. In the case of the Class UTA-2A, Class UTA-2B, Class UTA-2C, Class UTA-2D and Class UTA-2E Interests, a per annum rate equal to the weighted average of the interest rate for the Class LTII2B for such Distribution Date. In the case of the Class UTM-1, Class UTM-2, Class UTM-3, Class UTM-4, Class UTM-5, Class UTM-6, Class UTB-1, Class UTB-2 and Class UTB-3 Interests, a per annum rate equal to the weighted average of the interest rates of Class LTII1B and Class LTII2B Interests for such Distribution weighted, respectively, on the basis of the uncertificated principal balances of the Class LTII1A and the Class LTII2A Interests. In the case of any interest in the Upper Tier REMIC that accrues interest on a "30/360" basis, the per annum rates described in this definition shall be adjusted to reflect accruals on such basis.

Upper Tier REMIC Net WAC Cap. In the case of the Class UTA-1 Interest and the Residual Interest, a per annum rate equal to the weighted average of the interest rate of the Class LTII1B Interest for such Distribution Date. In the case of the Class UTA-2A, Class UTA-2B and Class UTA-2C Interests, a per annum rate equal to the weighted average of the interest rate for the Class LTII2B for such Distribution Date (adjusted, in the case of the Class UTA-2B and Class UTA-2C Interests, to reflect accruals on the basis of a 360 day year consisting of twelve 30 day months). In the case of the Class UTM-1, Class UTM-2, Class UTM-3, Class UTM-4, Class UTM-5, Class UTM-6, Class UTB-1, Class UTB-2 and Class UTB-3 Interests, a per annum rate equal to the weighted average (adjusted, in the case of the Class UTB-1, Class UTB-2 and Class UTB-3 Interests, to reflect accruals on the basis of a 360 day year consisting of twelve 30 day months) of the interest rates of Class LTII1B and Class LTII2B Interests for such Distribution weighted, respectively, on the basis of the uncertificated principal balances of the Class LTII1A and the Class LTII2A Interests.

Upper Tier REMIC Net WAC Cap. For any Distribution Date, the Net Rate multiplied, in the case of the Class M-3 and Class B Certificates, by the actual number of days in the Accrual Period for the LIBOR Certificates and divided by 30.

Upper Tier REMIC Net WAC Cap. In the case of the Class UT1-A, Class UT1-M1, Class UT1-M2 and Class UT1-M3 Interests and the Residual Interest, a per annum rate equal to the weighted average of the interest rate of the Class LTII1B Interest for such Distribution Date. In the case of the Class UT2-A1, Class UT2-A2, Class UT2-A3, Class UT2-A4, Class UT2-M1, Class UT2-M2 and Class UT2-M3 Interests, a per annum rate equal to the weighted average of the interest rate for the Class LTII2B for such Distribution Date. In the case of the Class UTM4, Class UTM5, Class UTM6, Class UTB1, Class UTB2 and Class UTB3 Interests, a per annum rate equal to the weighted average of the interest rates of Class LTII1B and Class LTII2B Interests for such Distribution Date weighted, respectively, on the basis of the uncertificated principal balances of the Class LTII1A and the Class LTII2A Interests.

Upper Tier REMIC Net WAC Cap. For any Distribution Date, the Net Rate. In the case of any interest in the Upper Tier REMIC that accrues interest on a "30/360" basis, the per annum rate described in this definition shall be adjusted to reflect accruals on such basis.

Upper Tier REMIC Net WAC Cap. For any Distribution Date, the Net Rate (multiplied, in the case of the Class UTB-2 Interest and the Class UTB-3 Interest, by a fraction the numerator of which is the actual number of days in the Accrual Period for the Lower Tier REMIC Interests and the denominator of which is 30).