Delayed Payment Interest Rate means the national average annual rate of interest payable on jumbo six-month bank certificates of deposit, as quoted in the business section of the most recently published Sunday edition of The New York Times preceding the Executive’s separation from service.
Loan Group I The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group I.
Advance Interest Amount means interest payable on Advances, as specified in the Servicing Agreement or Non-Lead Securitization Servicing Agreement, as applicable.
Overfunded Interest Amount With respect to any Subsequent Transfer Date, the excess of (A) the amount on deposit in the Capitalized Interest Account on such date over (B) the excess of (i) the amount of interest accruing at the sum of the (a) assumed weighted average Pass-Through Rate of the Offered Certificates and (b) the Applicable Rate on the Prefunded Amount outstanding at the end of the related Collection Period for the total number of days remaining through the end of the Accrual Periods ending April 25, 2004, May 24, 2004 and June 24, 2004 over (ii) one month of investment earnings on the amount on deposit in the Capitalized Interest Account on such date at an annual rate of 0.75%. The assumed weighted average Pass-Through Rate will be calculated assuming the Certificate Index is 1.09% for any Subsequent Transfer Date prior to the April 2004 Distribution Date, 1.34% for any Subsequent Transfer Date prior to the May 2004 Distribution Date and 1.59% for any Subsequent Transfer Date prior to the June 2004 Distribution Date.
Loan Group Balance As to each Loan Group, the aggregate of the Stated Principal Balances of the Mortgage Loans in such Loan Group that were Outstanding Mortgage Loans at the time of determination.
Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.
Prepayment Interest Excess Amount With respect to any Principal Prepayment in full which is applied to the related Mortgage Loan from the first day of the month of any Remittance Date through the sixteenth day of the month of such Remittance Date, all amounts paid in respect of interest on such Principal Prepayment in full. A Prepayment Interest Excess Amount cannot result from a Principal Prepayment in part, but only from a Principal Prepayment in full.
Loan Group IV The group of Mortgage Loans comprised of the Group IV Loans.
Loan Group 1 Principal Distribution Amount With respect to any Distribution Date, that portion, if any, of the Principal Distribution Amount attributable to Loan Group 1.
Loan Group I Cap With respect to the Group I Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Group I Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.
Loan Group 5 The Group 5 Mortgage Loans.
Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.
Loan Group II The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group II.
Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.
Loan Group 4 The Group 4 Mortgage Loans.
Loan Group Any of Loan Group 1 or Loan Group 2, as applicable.
Prepayment Interest Excess As to any Principal Prepayment received by the Master Servicer from the first day through the fifteenth day of any calendar month (other than the calendar month in which the Cut-off Date occurs), all amounts paid by the related Mortgagor in respect of interest on such Principal Prepayment. All Prepayment Interest Excess shall be paid to the Master Servicer as additional master servicing compensation.
Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.
Revolving Interest Rate means, with respect to Revolving Advances, an interest rate per annum equal to (a) the lesser of (i) the sum of the Alternate Base Rate plus the Applicable Revolving Domestic Rate Margin and (ii) the Maximum Rate, with respect to Domestic Rate Loans, and (b) the lesser of (i) the sum of the Eurodollar Rate plus the Applicable Revolving Eurodollar Rate Margin and (ii) the Maximum Rate, with respect to the Eurodollar Rate Loans.
Loan Group Cap The Loan Group I Cap or the Loan Group II Cap, as applicable.
Loan Group 2 The Group 2 Mortgage Loans.
Servicing Fee Percentage With respect to each Mortgage Loan, the percentage specified on the Servicer Mortgage Loan Schedule.
Loan Group 1 All Mortgage Loans identified as Loan Group 1 Mortgage Loans on the Mortgage Loan Schedule.
Loan Group 3 The Group 3 Mortgage Loans.
Simple Interest Receivable means any Receivable under which the portion of a payment allocable to interest and the portion allocable to principal is determined in accordance with the Simple Interest Method.
Loan Balance means, at any time, the outstanding principal balance of the Note at such time.