Adjusted Net WAC Rate. For the December 2001 Distribution Date through the May 2004 Distribution Date, a per annum rate equal to (1) the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs minus (2) the Pass-Through Rate for the Class A-IO Certificates for such Distribution Date multiplied by a fraction, the numerator of which is (x) the Notional Amount of the Class A-IO Certificates immediately prior to such Distribution Date, and the denominator of which is (y) the aggregate Stated Principal Balance of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs. For any subsequent Distribution Date, the weighted average of the Net Mortgage Rates of the Mortgage Loans. For federal income tax purposes, however, the equivalent of the foregoing, expressed as a per annum rate (but not less than zero) equal to the weighted average of (x) the Uncertificated REMIC I Pass-Through Rate with respect to REMIC I Regular Interest LT-1 for such Distribution Date and (y) the excess, if any, of (1) the Uncertificated REMIC I Pass-Through Rate with respect to REMIC I Regular Interest LT-6 for such Distribution Date over (2) (A) in the case of the Distribution Date in December 2001 through the Distribution Date in May 2004, 6.00% per annum and (B) in the case of any Distribution Date thereafter, 0.00% per annum; weighted, (i) for any Distribution Date in December 2001 through May 2002, in the case of clause (x), on the basis of the Uncertificated Principal Balance of REMIC I Regular Interest LT-1, and in the case of clause (y), on the basis of the aggregate Uncertificated Principal Balances of REMIC I Regular Interests LT-2 through LT-6, (ii) for any Distribution Date in June 2002 through November 2002, in the case of clause (x), on the basis of the aggregate Uncertificated Principal Balances of REMIC I Regular Interests LT-1 and LT-2, and in the case of clause (y), on the basis of the aggregate Uncertificated Principal Balance of REMIC I Regular Interests LT-3 through LT-6, (iii) for any Distribution Date in December 2002 through May 2003, in the case of clause (x), on the basis of the aggregate Uncertificated Principal Balances of REMIC I Regular Interests LT-1 through LT-3, and in the case of clause (y), on the basis of the aggregate Uncertificated Principal Balance of REMIC I Regular Interests LT-4 through LT-6, (iv) for any Distribution ...
Adjusted Net WAC Rate. With respect to the Class A, Class M, Class R and Class B Certificates and any Distribution Date, a per annum rate (which will not be less than zero) equal to the excess, if any, of (i) the weighted average of the Net Mortgage Rates of the Mortgage Loans during the related Due Period, multiplied by a fraction, expressed as a percentage, the numerator of which is 30 and the denominator of which is 360, over (ii) 0.980138%.
Adjusted Net WAC Rate. A per annum rate (but not less than zero) equal to the weighted average of (x) the Uncertificated REMIC I Pass-Through Rate with respect to REMIC I Regular Interest LTA for such Distribution Date and (y) the excess, if any, of (i) the Uncertificated REMIC I Pass-Through Rate with respect to REMIC I Regular Interest LTB for such Distribution Date over (ii) (A) in the case of the first 30 Distribution Dates, 8.00% per annum, and (B) in the case of any Distribution Date thereafter, 0.00% per annum, weighted, in the case of clause (x), on the basis of the Uncertificated Principal Balance of REMIC I Regular Interest LTA, and in the case of clause (y), on the basis of the Uncertificated Principal Balance of REMIC I Regular Interest LTB, respectively.
Examples of Adjusted Net WAC Rate in a sentence
Deal Totals 3.09% 3.09% Net WAC Cap Rate: 6.29018% Adjusted Net WAC Rate: 7.27032% 09/28/2007 8:40:56PM Residential Accredit Loans Inc, 2007-QH8 9.
Deal Totals 3.67% 4.65% 4.65% Net WAC Cap Rate: 7.23778% Adjusted Net WAC Rate: 6.54840% Adjusted Rate Cap: 6.54840% 12/27/2007 6:43:48PM Residential Accredit Loans Inc, 2007-QH9 9.
Deal Totals 7.15% 6.49% 5.65% Net WAC Cap Rate: 6.28794% Adjusted Net WAC Rate: 6.28794% 9.
Deal Totals 6.77% 5.15% 5.15% Net Deferred Interest: $0.00 Net WAC Cap Rate: 6.29006% Adjusted Net WAC Rate: 7.27020% 9.
The Pass-Through Rate on the Class 1A-IO Certificates for any Payment Date will be equal to the lesser of 0.6794% and the ABS Group 1 Adjusted Net WAC Rate.
More Definitions of Adjusted Net WAC Rate
Adjusted Net WAC Rate. A per annum rate equal to (1) the weighted average of the Adjusted Net WAC Rates of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs (adjusted in the case of the related Net WAC Rate applicable to the LIBOR Certificates, to an effective rate reflecting the accrual of interest calculated on the basis of a 360 day year and the actual number of days elapsed during the related Accrual Period) minus (2) the Pass-Through Rate for the Class A-IO Certificates for such Distribution Date multiplied by a fraction, the numerator of which is (x) the Notional Amount of the Class A-IO Certificates immediately prior to such Distribution Date, and the denominator of which is (y) the aggregate Stated Principal Balance of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs. For federal income tax purposes, the Net WAC Rate will equal the weighted average rate on the Subsidiary REMIC regular interests, other than the Class P Certificate, where the Class SA Regular interest has a rate equal to the weighted average Mortgage Rate, and the Class SB Regular Interests will have a rate equal to (a) from the Closing Date to their respective Rate Change Date, the weighted average Mortgage Rate minus 2.50%, and (b) thereafter, the weighted average Mortgage Rate (adjusted to the appropriate day counting convention).
Adjusted Net WAC Rate. With respect to any Distribution Date, a per annum rate equal to the weighted average of the Group 1 Adjusted Net WAC Rate, the Group 2 Adjusted Net WAC Rate and the Group 3 Adjusted Net WAC Rate for such Distribution Date (weighted on the basis of the aggregate Stated Principal Balance of the Mortgage Loans in Loan Group 1, Loan Group 2 and Loan Group 3, respectively, in each case as of the last day of the related Collection Period).
Adjusted Net WAC Rate. A per annum rate equal to (1) the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs minus (2) the Pass-Through Rate for the Class A-IO Certificates for such Distribution Date multiplied by a fraction, the numerator of which is (x) the Notional Amount of the Class A-IO Certificates immediately prior to such Distribution Date, and the denominator of which is (y) the aggregate Stated Principal Balance of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs. For federal income tax purposes, a per annum rate (but not less than zero) equal to the weighted average pass-through rate of REMIC 1 regular interests and residual interests. In the case of the REMIC 1 Class T1B Regular Interest, REMIC 1 Class T1P Regular Interest, and the Class R-1 residual interest, the pass-through rate will equal the Net WAC Rate for such Distribution Date and with respect to the each other REMIC 1 regular interest, the pass-through rate will equal the excess, if any, of (a) the Net WAC Rate for such Distribution Date over (b) for the period starting on the Closing Date and ending on such regular interest's Rate Change Date, 7.00% per annum, and thereafter, 0.00%.
Adjusted Net WAC Rate. The weighted average rate of the Adjusted Group 1 Net WAC Rate and Adjusted Group 2 Net WAC Rate.
Adjusted Net WAC Rate. A rate equal to the Net Funds Cap.
Adjusted Net WAC Rate. The weighted average rate of the Adjusted Group 1 Net WAC Rate and Adjusted Group 2 Net WAC Rate weighted according to the aggregate Stated Principal Balances of the Mortgage Loans of each Loan Group plus any amounts in the Pre-Funding Account allocated to such Group as of the last day of the related Remittance Period.
Adjusted Net WAC Rate. A per annum rate equal to the weighted average of the Adjusted Net Mortgage Rates of the Mortgage Loans as of the first day of the month preceding the month in which such Distribution Date occurs, adjusted to an effective rate reflecting the accrual of interest calculated on the basis of a 360 day year and the actual number of days elapsed during the related Accrual Period.