Weighted Average Rate Cap definition
Weighted Average Rate Cap means with respect to the HELOC's and the Class A-1 Certificates, on any Remittance Date, that maximum interest rate computed to equal one-twelfth the weighted average Mortgage Interest Rate for the HELOC's, net of the Class A-1 Premium Percentage and the rates at which the Servicing Fee and the Trustee's Fee are calculated.
Weighted Average Rate Cap means with respect to the Class A-1 Certificates, on any Remittance Date, that maximum interest rate computed to equal one-twelfth the weighted average Mortgage Interest Rate for the Mortgage Loans, net of the [Premium Percentage and] the rates at which the Servicing Fee and the Trustee's Fee are calculated.
Weighted Average Rate Cap means with respect to the Class A-1 Certificates, on any Remittance Date, that maximum interest rate computed to equal one-twelfth the weighted average Mortgage Interest Rate for the Group I Mortgage Loans, net of the Premium Percentage and the rates at which the Servicing Fee and the Trustee's Fee are calculated.
Examples of Weighted Average Rate Cap in a sentence
The information with respect to the Remittance Date provided by the Servicer to the Trustee and the Certificate Insurer on the Determination Date shall also include the Class A Formula Distribution Amount, the Class A Pass-Through Rate, the Weighted Average Rate Cap, the Premium Percentage, the aggregate Class A Principal Balance, the aggregate sum of the Trust Balances for all Mortgage Loans and the Required Reserve Account Level.
More Definitions of Weighted Average Rate Cap
Weighted Average Rate Cap. With respect to the ARMs and the Class A-1 Certificates, on any Distribution Date, that maximum interest rate computed to equal one-twelfth the weighted average of the Mortgage Interest Rates for the ARMs, net of (i) the related Premium Percentage and the rates at which the related Servicing Fee and the related Trustee's Fee are calculated and, (ii) commencing with the Distribution Date in October, 1997, 0.50%.