Weighted Average Net Rate definition
Weighted Average Net Rate. The weighted average Net Rates of the Mortgage Loans.
Weighted Average Net Rate. The weighted average of the Mortgage Rates of the Mortgage Loans less the sum of the Servicing Fee Rate and the Master Servicing Fee Rate, as applicable, provided, however, that for the first three Distribution Dates, the Weighted Average Net Rate shall equal the product of (i) the weighted average of the Mortgage Rates of only those Mortgage Loans transferred to the Trust Fund on the Closing Date less the sum of the Servicing Fee Rate and the Master Servicing Fee Rate, as applicable, multiplied by (ii) a fraction, the numerator of which is the aggregate principal balance of the Mortgage Loans transferred to the Trust Fund on the Closing Date and the denominator of which is the Assumed Principal Balance as of such Distribution Date.
Weighted Average Net Rate. With respect to the Mortgage Loans in any Group, the weighted average of the Mortgage Rates of the Mortgage Loans in such Group less the sum of the Servicing Fee Rate and the Master Servicing Fee Rate, as applicable, provided, however, that for the first four Distribution Dates, the Weighted Average Net Rate shall equal the product of (i) the weighted average of the Mortgage Rates of only those Mortgage Loans transferred to the Trust Fund on the Closing Date less the sum of the Servicing Fee Rate and the Master Servicing Fee Rate, as applicable, multiplied by (ii) a fraction, the numerator of which is the aggregate principal balance of the Mortgage Loans in such Group transferred to the Trust Fund on the Closing Date and the denominator of which is the Assumed Principal Balance of such Group as of such Distribution Date.
Examples of Weighted Average Net Rate in a sentence
The Certificate Rate will equal the Group 2 Weighted Average Net Rate which for the initial Distribution Date will equal approximately _.___%.
For each Distribution Date after the Group 1 Bond Reset Date, the Certificate Rate for the Class A1-A Certificates will be a per annum rate equal to the lesser of (x) the Group 1 Weighted Average Net Rate and (y) the one year LIBOR Rate plus 1.25%.
For any Distribution Date and Group I, a per annum rate equal to the Weighted Average Net Rate of the Mortgage Loans in Group I.
For each Distribution Date after the Group 1 Bond Reset Date, the Certificate Rate on the Class A-1B Certificates will be a per annum rate equal to the Group 1 Weighted Average Net Rate minus 0.48%.
For each Distribution Date after the Group 1 Bond Reset Date, the Certificate Rate on the Class A1-D Certificates will be a per annum rate equal to the Group 1 Weighted Average Net Rate minus 0.48%.
More Definitions of Weighted Average Net Rate
Weighted Average Net Rate. With respect to any Distribution Date and Loan Group I or Loan Group II, the weighted average of the Net Mortgage Rates of the Mortgage Loans in such Loan Group.
Weighted Average Net Rate. With respect to any Distribution Date, the weighted average Net Rate of the Mortgage Loans as of the first day of the immediately preceding calendar month.
Weighted Average Net Rate means as to any Payment Date, the average of ------------------------- the Net Rates of the Loans weighted on the basis of the Loan Balances as of the first day of the related Due Period.
Weighted Average Net Rate. For any Group, (a) the weighted average of the Mortgage Rates of the Mortgage Loans less the sum of the Servicing Fee Rate and the Master Servicing Fee Rate, as applicable, [the PMI Insurance Premium applicable to such Group (expressed as a percentage of the entire aggregate principal balance of the related Mortgage Loans)][ and the applicable Swap Rate multiplied by (b) during the Funding Period a fraction, the numerator of which is the aggregate principal balance of the Mortgage Loans having a scheduled interest payment that will be included in Interest Funds for the first Distribution Date and the denominator of which is the Assumed Principal Balance, computed only with respect to such Group, as of the Cut-off Date].
Weighted Average Net Rate. As to any Distribution Date will equal, the percentage equivalent of (A) a fraction, (1) the numerator of which is equal to (a) all payments of interest due on the Mortgage Loans during the related Due Period, less (b) the sum of (i) the Servicing Fee payable on such Distribution Date, (ii) the Trustee Fee payable on such Distribution Date, and (iii) and the Premium Amount payable on such Distribution Date and (2) the denominator of which is the Pool Principal Balance as of the first day of the related Due Period, times (B) a fraction, the numerator of which is one and the denominator of which is the actual number of days in the Interest Period for the Class A-1 Certificates, times (C) 360.
Weighted Average Net Rate. The weighted average of the Mortgage Rates of the Mortgage Loans less the sum of the Servicing Fee Rate, the Master Servicing Fee Rate and any PMI Insurance Premiums, as applicable.
Weighted Average Net Rate. The weighted average Net Rates of the Mortgage Loans. [Yield Maintenance Agreement: The interest rate swap agreement relating to the Notes dated [ ] between the Issuer and the Counterparty, including the long form confirmation and the form of ISDA Master Agreement deemed incorporated into the long form confirmation, and any successor interest rate swap agreement thereto entered into in accordance with Section 4.7.] [Yield Maintenance Account: The Eligible Account created hereunder pursuant to Section 4.7.]