Average Variable Rate Mortgage Loan Balance definition
Average Variable Rate Mortgage Loan Balance means, in respect of a Swap Determination Period, an amount equal to the sum of the aggregate of the outstanding current balances of the Variable Rate Mortgage Loans at the start of business on the first day of such Swap Determination Period as notified to the Calculation Agent by the Cash Manager in accordance with the provisions of the Cash Management Agreement.
Average Variable Rate Mortgage Loan Balance means, (i) in respect of a Swap Determination Period, an amount equal to the sum of the aggregate of the outstanding current balances of the Variable Rate Mortgage Loans at the start of business on the first day of such Swap Determination Period, and (ii) in respect of a Further Issue Determination Period, an amount equal to the sum of the aggregate of the outstanding current balances of the Further Issue Variable Rate Mortgage Loans at the start of business on the first day of such Further Issue Determination Period, in the case of both (i) and (ii) above, as notified to the Calculation Agent by the Cash Manager in accordance with the provisions of the Cash Management Agreement.
Average Variable Rate Mortgage Loan Balance has the meaning given to it in the Current Issuer Basis Rate Swap Agreement;