Group II Net WAC Rate definition

Group II Net WAC Rate. With respect to any Payment Date, a per annum rate equal to the weighted average of the Net Loan Rates of the Group II Loans as of the beginning of the related Collection Period, adjusted by multiplying the Group II Net WAC Rate by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Interest Period.
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Group II Net WAC Rate. With respect to any Distribution Date, the weighted average of the Net Rates on the Mortgage Loans in Loan Group II, weighted on the basis of the Stated Principal Balances thereof for the preceding Distribution Date, adjusted to an effective rate reflecting the accrual of interest on an actual/360 basis.
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Group II Net WAC Rate means, with respect to any Distribution Date and Loan Group II, the weighted average of the Net Mortgage Rates of the Group II Loans as of the end of the calendar month immediately preceding the month in which the related Distribution Date occurs.
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Examples of Group II Net WAC Rate in a sentence

  • The Note Rate for each Interest Period will be a floating rate equal to the least of (i) LIBOR plus 0.17% per annum, (ii) 17.25% per annum and (iii) the Group II Net WAC Rate.

  • The Note Rate for each Interest Period will be a floating rate equal to the least of (i) LIBOR plus 0.22% per annum, (ii) 17.25% per annum and (iii) the Group II Net WAC Rate.

  • The Note Rate for each Interest Period will be a floating rate equal to the least of (i) LIBOR plus 0.18% per annum, (ii) 17.25% per annum and (iii) the Group II Net WAC Rate.

  • The pass-through rate for the Class X-2-P Component of the Class X-2 Certificates on any Distribution Date will be a per annum rate equal to the Group II Net WAC Rate for that Distribution Date.

  • The Note Rate for each Interest Period will be a floating rate equal to the least of (i) LIBOR plus 0.29% per annum, (ii) 17.25% per annum and (iii) the Group II Net WAC Rate.

  • The Note Rate for each Interest Period will be a floating rate equal to the least of (i) LIBOR plus[__] per annum, (ii) [17.25]% per annum and (iii) the Group II Net WAC Rate.

  • For federal and state income tax purposes, the Class CE-2 Certificateholders shall be deemed to be the owners of the Group II Net WAC Rate Carryover Reserve Account and all amounts deposited into the Group II Net WAC Rate Carryover Reserve Account shall be treated as amounts distributed by REMIC II-B to the Holders of the Class CE-2 Interest and by the Class CE-2 Interest to the Holders of the Class CE-2 Certificates.

  • The Note Rate for each Interest Period will be a floating rate equal to the least of (i) LIBOR plus [__]% per annum, (ii) [17.25]% per annum and (iii) the Group II Net WAC Rate.

  • For any Distribution Date and for the Class II-A-1 Certificates and Class II-A-2 Certificates, the Group II Net WAC Rate.


More Definitions of Group II Net WAC Rate

Group II Net WAC Rate. With respect to each Distribution Date through and including the Distribution Date in January 2004, the Net WAC Rate, and for each Distribution Date thereafter, the weighted average of the Net Mortgage Rates of the Group II Loans, weighted on the basis of the Stated Principal Balances thereof as of the close of business on the first day of the calendar month preceding the month in which such Distribution Date occurs.
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Group II Net WAC Rate. With respect to any Distribution Date and the Class II-A Certificates and Class II-M Certificates, the Weighted Average Adjusted Net Mortgage Rate on the Group II Loans as of the Due Date in the prior calendar month (after giving effect to Principal Prepayments received in the Prepayment Period related to that prior Due Date). With respect to any Distribution Date and the REMIC 2B Regular Interests the ownership of which is represented by the Class II-A Certificates and Class II-M Certificates, a per annum rate equal to the weighted average of the Uncertificated REMIC 2A Pass-Through Rates on each REMIC 2A Regular Interest, in each case as determined for such Distribution Date, weighted on the basis of the Uncertificated Principal Balance of each such REMIC 2A Regular Interest immediately prior to such Distribution Date.
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Group II Net WAC Rate. A per annum rate equal to (a) the weighted average of the Adjusted Net Mortgage Interest Rates then in effect at the beginning of the related Due Period on the Group II Mortgage Loans (adjusted for prepayments during such Due Period that were distributed on the Distribution Date falling within such Due Period), multiplied by (b) 30 divided by the actual number of days in such Interest Accrual Period. For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of the Uncertificated REMIC I Pass-Through Rate on REMIC I Regular Interest LT2GRP, weighted on the basis of the Uncertificated Balance of such REMIC I Regular Interest.
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Group II Net WAC Rate. With respect to any Distribution Date, a per annum rate equal to (i) the weighted average of the Net Mortgage Rates (or, if applicable, the Modified Net Mortgage Rates) on the Group II Loans using the Net Mortgage Rates in effect for the Monthly Payments due on such Mortgage Loans during the related Due Period, weighted on the basis of the respective Stated Principal Balances thereof for such Distribution Date, multiplied by a fraction equal to 30 divided by the actual number of days in the related Interest Accrual Period minus (ii) the product of (a) a fraction, expressed as a percentage, the numerator of which is the amount of any Net Swap Payments or Swap Termination Payment not due to a Swap Counterparty Trigger Event paid from interest and principal payments received or advanced on the Group II Loans owed to the Swap Counterparty as of such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of the Group II Loans as of such Distribution Date, and (b) a fraction expressed as a percentage, the numerator of which is 360 and the denominator of which is the actual number of days in the related Interest Accrual Period. Group II Principal Distribution Amount: For any Distribution Date, the product of (x) the Class A Principal Distribution Amount for such Distribution Date and (y) a fraction, the numerator of which is the portion of the Principal Allocation Amount related to the Group II Loans for such Distribution Date and the denominator of which is the Principal Allocation Amount for all of the Mortgage Loans for such Distribution Date. Group II REMIC II Net WAC Rate: With respect to any Distribution Date, a per annum rate equal to the weighted average of the Net Mortgage Rates on the Group II Loans reduced by the REMIC II Net WAC Rate. Group II REMIC III Net WAC Rate: With respect to any Distribution Date, a per annum rate equal to the weighted average of the Uncertificated REMIC II Pass-Through Rates for REMIC II Regular Interests Y-2 and Z-2. Index: With respect to any Mortgage Loan and as to any Adjustment Date therefor, the related index as stated in the related Mortgage Note. Initial Subordinate Class Percentage: Not applicable. Interest Accrual Period: (i) With respect to the Distribution Date in September 2006, the period commencing on the Closing Date and ending on the day immediately preceding the Distribution Date in September 2006, and with respect to any Distribution Date after the Distribution Date in Sept...
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Group II Net WAC Rate. With respect to any Distribution Date, the weighted average of the Net Mortgage Rates on the Mortgage Loans in Loan Group II, weighted on the basis of the Stated Principal Balances thereof for the preceding Distribution Date, adjusted to an effective rate reflecting the accrual of interest on an actual/360 basis. Indemnified Persons: The Trustee, the Servicer, the Trust Fund and their officers, directors, agents and employees and, with respect to the Trustee, any separate co-trustee and its officers, directors, agents and employees, as applicable. Index: With respect to each Adjustable Rate Mortgage Loan and with respect to each related Adjustment Date, the index as specified in the related Mortgage Note.
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Group II Net WAC Rate. With respect to any Distribution Date, a per annum rate equal to (i) the weighted average of the Net Mortgage Rates (or, if applicable, the Modified Net Mortgage Rates) on the Group II Loans using the Net Mortgage Rates in effect for the Monthly Payments due on such Mortgage Loans during the related Due Period, weighted on the basis of the respective Stated Principal Balances thereof for such Distribution Date, multiplied by a fraction equal to 30 divided by the actual number of days in the related Interest Accrual Period minus (ii) the product of (a) a fraction, expressed as a percentage, the numerator of which is the amount of any Net Swap Payments or Swap Termination Payment not due to a Swap Counterparty Trigger Event paid from interest and principal payments received or advanced on the Group II Loans owed to the Swap Counterparty as of such Distribution Date and the denominator of which is the aggregate Stated Principal Balance of the Group II Loans as of such Distribution Date, and (b) a fraction expressed as a percentage, the numerator of which is 360 and the denominator of which is the actual number of days in the related Interest Accrual Period.
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Related to Group II Net WAC Rate

  • Net WAC Rate With respect to any Distribution Date (and the related Accrual Period), a per annum rate equal to the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the related Collection Period (not including for this purpose Mortgage Loans for which prepayments in full have been received and distributed in the month prior to that Distribution Date).

  • Loan Group II Cap With respect to the Group II 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 II 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.

  • Net WAC With respect to any Distribution Date and for any Mortgage Group, the weighted average Net Mortgage Rate for the Mortgage Loans in such Mortgage Group calculated based on the respective Net Mortgage Rates and the Stated Principal Balances of such Mortgage Loans as of the preceding Distribution Date (or, in the case of the first Distribution Date, as of the Cut-off Date).

  • 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.

  • Net WAC Pass-Through Rate With respect to the Class A-1 Certificates and any Distribution Date, a rate per annum (adjusted for the actual number of days elapsed in the related Interest Accrual Period) equal to the product of (i) twelve and (ii) a fraction, expressed as a percentage, the numerator of which is the amount of interest which accrued on the Group I Mortgage Loans in the prior calendar month minus the fees payable to the Servicer, the Master Servicer and the Credit Risk Manager with respect to the Group I Mortgage Loans for such Distribution Date and the Group I Allocation Percentage of any Net Swap Payment payable to the Swap Provider and Swap Termination Payment payable to the Swap Provider which was not caused by the occurrence of a Swap Provider Trigger Event, in each case for such Distribution Date and the denominator of which is the aggregate principal balance of the Group I Mortgage Loans as of the last day of the immediately preceding Due Period (or as of the Cut-off Date with respect to the first Distribution Date). For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of (adjusted for the actual number of days elapsed in the related Interest Accrual Period) the REMIC II Remittance Rate on REMIC II Regular Interest I-GRP, weighted on the basis of the Uncertificated Balance of such REMIC II Regular Interest. With respect to the Class A-2 Certificates and any Distribution Date, a rate per annum (adjusted for the actual number of days elapsed in the related Interest Accrual Period) equal to the product of (i) twelve and (ii) a fraction, expressed as a percentage, the numerator of which is the amount of interest which accrued on the Group II Mortgage Loans in the prior calendar month minus the fees payable to the Servicer, the Master Servicer and the Credit Risk Manager with respect to the Group II Mortgage Loans for such Distribution Date and the Group II Allocation Percentage of any Net Swap Payment payable to the Swap Provider and Swap Termination Payment payable to the Swap Provider which was not caused by the occurrence of a Swap Provider Trigger Event, in each case for such Distribution Date and the denominator of which is the aggregate principal balance of the Group II Mortgage Loans as of the last day of the immediately preceding Due Period (or as of the Cut-off Date with respect to the first Distribution Date). For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of (adjusted for the actual number of days elapsed in the related Interest Accrual Period) the REMIC II Remittance Rate on REMIC II Regular Interest II-GRP, weighted on the basis of the Uncertificated Balance of such REMIC II Regular Interest. With respect to the Mezzanine Certificates and any Distribution Date a rate per annum equal to the weighted average (weighted in proportion to the results of subtracting from the Scheduled Principal Balance of each loan group, the Certificate Principal Balance of the related Class A Certificates), of (i) the Net WAC Pass-Through Rate for the Class A-1 Certificates and (ii) the Net WAC Pass-Through Rate for the Class A-2 Certificates. For federal income tax purposes, the economic equivalent of such rate shall be expressed as the weighted average of (adjusted for the actual number of days elapsed in the related Interest Accrual Period) the REMIC II Remittance Rates on (a) REMIC II Regular Interest I-SUB, subject to a cap and a floor equal to the REMIC II Remittance Rate on REMIC II Regular Interest I-GRP, and (b) REMIC II Regular Interest II-SUB, subject to a cap and a floor equal to the REMIC II Remittance Rate on REMIC II Regular Interest II-GRP, weighted on the basis of the Uncertificated Balance of each such REMIC II Regular Interest.