Adjusted Net WAC Cap Rate definition
Adjusted Net WAC Cap Rate means, for any Payment Date, the Net WAC Cap Rate minus a fraction, expressed as a percentage, the numerator of which is the product of
Adjusted Net WAC Cap Rate means, for any Remittance Date, the Net WAC Cap Rate minus a fraction expressed as a percentage,
Adjusted Net WAC Cap Rate means, for any Payment Date, the Net WAC Cap Rate minus a fraction, expressed as a percentage,
Examples of Adjusted Net WAC Cap Rate in a sentence
First Distribution Date : April 25, 2002 Initial Certificate Principal Balance of this Certificate ("Denomination") : $381,329,000 Original Class Certificate Principal Balance of this Class : $381,329,000 Percentage Interest : 100.00% Pass-Through Rate One-Month LIBOR plus 0.35%, subject to the Adjusted Net WAC Cap Rate.
More Definitions of Adjusted Net WAC Cap Rate
Adjusted Net WAC Cap Rate. With respect to any Distribution Date, a per annum rate (but not less than zero) equal to the weighted average of (x) the Net WAC Cap Rate with respect to REMIC I Regular Interest LT-ZZ for such Distribution Date and (y)
Adjusted Net WAC Cap Rate. For the January 2003 Distribution Date through the May 2005 Distribution Date, a per annum rate equal to (1) the Net WAC Cap Rate 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 determined immediately prior to such Distribution Date. 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) with respect to REMIC I Regular Interest LT- A-1, the Uncertificated REMIC I Pass-Through Rate for such REMIC I Regular Interest for such Distribution Date and, (y) with respect to REMIC I Regular Interest LT-A-2 through REMIC I Regular Interest LT-A-30 the excess, if any, of (1) the Uncertificated REMIC I Pass-Through Rate with respect to such REMIC I Regular Interest for such Distribution Date over (2) in the case of each such REMIC I Regular Interest, (A) from the Closing Date to but not including the Rate Change Date for the Corresponding Interest relating to such REMIC I Regular Interest, 2.000% per annum and (B) thereafter, 0.00% per annum; weighted on the basis of the Uncertificated Principal Balance of each REMIC I Regular Interest.
Adjusted Net WAC Cap Rate means, with respect to a Payment Date, the weighted average of the Adjusted Group I Net WAC Cap Rate and the Adjusted Group II Net WAC Cap Rate, based on the Intermediate Interest Principal Balance of the Uncertificated Intermediate Group I Interests and Uncertificated Intermediate Group II Interests.
Adjusted Net WAC Cap Rate. With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the Net WAC Cap Rate adjusted for (x) the payment of the Yield Maintenance Agreement Fee and (y) payments made in respect of the Class A-IO Certificates. The adjustments described in clauses (x) and (y) shall result in a reduction of the Net WAC Cap Rate by an amount equal to the product of (i) a fraction, expressed as a percentage, the numerator of which is the sum of the Yield Maintenance Agreement Fee and payments made in respect of the Class A-IO Certificates on such Distribution Date, and the denominator of which is the Pool Principal Balance as of the first day of the related due Period, and (ii) a fraction, the numerator of which is 360 and the denominator of which is the actual number of days in the related Accrual Period.
Adjusted Net WAC Cap Rate. The Group 5 Adjusted Net WAC Cap Rate, the Group 6 Adjusted Net WAC Cap Rate or the Aggregate Group II Subordinated Adjusted Net WAC Cap Rate, as the context requires.