Adjusted Subordinate Net Rate Cap definition

Adjusted Subordinate Net Rate Cap. For each Distribution Date, the weighted average of the Group 1 Net Rate Cap and Group 2 Net Rate Cap weighted on the basis of the respective Adjusted Subordinate Component Balance of their corresponding Loan Groups. For federal income tax purposes, the Adjusted Subordinate Net Rate Cap will be the Calculation Rate in respect of the Class C and Class D Interests in REMIC 2.

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Adjusted Subordinate Net Rate Cap. With respect to any Distribution Date, the weighted average of the Loan Group 2 Net Rate Cap and Loan Group 3 Net Rate Cap weighted on the basis of the respective Adjusted Subordinate Component Balance of their corresponding Loan Groups. For federal income tax purposes, the Adjusted Subordinate Net Rate Cap will be the Calculation Rate in respect of the R-2-C and R-2-D Interests.

Examples of Adjusted Subordinate Net Rate Cap in a sentence

In each case, Principal Relocation Payments will be made so as to cause the Calculation Rate in respect of the outstanding R-2-C and R-2-D Interests to equal the Adjusted Subordinate Net Rate Cap.
In the event that a Cross-Over Situation exists with respect to the Class I3 and Class I4 Interests on any Distribution Date, and the Calculation Rate in respect of the outstanding Class I3 and Class I4 Interests is less than the Adjusted Subordinate Net Rate Cap, a Principal Relocation Payment shall be made proportionately made to the outstanding Class I3 Interests prior to any other Principal Distributions from each such Loan Group.
For federal income tax purposes the "Adjusted Subordinate Net Rate Cap" will equal the Calculation Rate with respect to the R-2-C and R-2-D REMIC 2 Interests.
In each case, Principal Relocation Payments shall be made to cause the Calculation Rate in respect of the outstanding Class I3 and Class I4 Interests to equal the Adjusted Subordinate Net Rate Cap.
In each case, Principal Relocation Payments will be made so as to cause the Calculation Rate in respect of the outstanding R-1-C and R-1-D Interests to equal the Adjusted Subordinate Net Rate Cap.
In the event that a Cross-Over Situation exists with respect to the Class I3 and Class I4 Interests on any Distribution Date, and the Calculation rate in respect of the outstanding Class I3 and Class I4 interests is greater than the Adjusted Subordinate Net Rate Cap, a Principal Relocation Payment shall be made proportionately made to the outstanding Class I4 Interests prior to any other Principal Distributions from each such Loan Group.

Related to Adjusted Subordinate Net Rate Cap

Specified Subordinated Amount As applicable, the Group I Specified Subordinated Amount or the Group II Specified Subordinated Amount.
Group I Subordinate Percentage For any Distribution Date, the excess of 100% over the Group I Senior Percentage for such date.
Group II Subordinate Percentage For any Distribution Date, the excess of 100% over the Group II Senior Percentage for such date.
Excess Subordinated Amount With respect to any Distribution Date, the excess, if any, of (a) the Subordinated Amount on such Distribution Date over (b) the Specified Subordinated Amount for such Distribution Date.
Initial Subordinate Class Percentage As defined in the Series Supplement.

Related to Adjusted Subordinate Net Rate Cap

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