Examples of WAC Cap in a sentence

To the extent a class of Rated Notes becomes subject to the Net WAC Cap, the corresponding shortfall will be deferred and non-payment of such amounts shall not be deemed an Event of Default under any circumstances.
To the extent that the amount of interest payable on a Class of Rated Notes (other than the Class A Notes) as calculated under paragraph (b) of the definition of "Rate of Interest" exceeds the amount calculated by reference to the Net WAC Cap, such Net WAC Additional Amounts may be deferred.
It is not necessary for us to come to a final view on whether detrimental reliance is an essential element of the doctrine of substantive legitimate expectations.
As a matter of practice, the Tribe shall retain all original Bid Bonds furnished and submitted with Proposal Forms, and will not be returned to the respective Bidder/Contractor.
Interest Shortfall: For the purposes of calculating the Expected Interest Amount, and notwithstanding any other provision herein, the Reference Obligation Coupon shall be deemed to include any cap stated in the Underlying Instrument that is not a Limitation Provision and, where WAC Cap Interest Provision is specified as not applicable in the relevant Confirmation, is not a WAC Cap.

More Definitions of WAC Cap

WAC Cap. With respect to the Mortgage Loans as of any Distribution Date, a per annum rate equal to the product of (i) 30 divided by the actual number of days in the applicable Interest Accrual Period and (ii) the sum of (A) the weighted average of the Adjusted Net Mortgage Interest Rates then in effect at the beginning of the related Due Period on the Mortgage Loans, and (B) Net Swap Receipts, if any, for that Distribution Date less Net Swap Payments, if any, for that Distribution Date divided by the Stated Principal Balance of the Mortgage Loans at the beginning of the related Due Period, multiplied by 12. Wells Fargo: Wells Fargo Bank, N.A., a national banking association, anx xxx successxxx xn interest.

WAC Cap. With respect to the Mortgage Loans as of any Distribution Date, the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Mortgage Loans minus the Swap Payment Rate, adjusted in each case to accrue on the basis of a 360-day year and the actual number of days in the related Interest Accrual Period. With respect to the first Due Period and the first Distribution Date only, the WAC Rate shall be reduced by a fraction, the numerator of which is the Closing Date Deposit Amount and the denominator of which is the Cut-off Date Pool Principal Balance. Wells Fargo: Wells Fargo Bank, National Association, a national banking xxxxciation, xxx its successors in interest. WMC: WMC Mortgage Corp., a California corporation, and its successors in interest.

WAC Cap. With respect to the Mortgage Loans as of any Distribution Date, the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Mortgage Loans minus the Swap Payment Rate, adjusted in each case to accrue on the basis of a 360-day year and the actual number of days in the related Interest Accrual Period. With respect to the first Due Period and the first Distribution Date only, the WAC Cap shall be reduced by a fraction, the numerator of which is the Closing Date Deposit Amount and the denominator of which is the Cut-off Date Pool Principal Balance. Wells Fargo: Wells Fargo Bank, National Association, a national banking xxxxciation, xxx its successors in interest.