Weighted Maximum Rate Cap definition
Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to the weighted average of the Adjusted Maximum Mortgage Rates on the Mortgage Loans.
Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to (i) the weighted average of the Maximum Mortgage Rates on the Mortgage Loans (calculated based upon the Stated Principal Balance of such Mortgage Loans as of the preceding Distribution Date) on such Distribution Date minus (ii) the Servicing Fee Rate and the Dividend Rate. ARTICLE II
Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to the product of (x)(i) the weighted average of the Maximum Mortgage Rates on the Mortgage Loans (calculated based upon the Stated Principal Balance of such Mortgage Loans as of the preceding Distribution Date) on such Distribution Date minus (ii) the Servicing Fee Rate, the Credit Risk Manager Fee Rate and the PMI Insurer's Fee Rate and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the related Accrual Period.
More Definitions of Weighted Maximum Rate Cap
Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to (i) with respect to the Class AV-1 Certificates, the weighted average of the Adjusted Maximum Mortgage Rates on the Mortgage Loans in Loan Subgroup 2A, (ii) with respect to the Class AV-2 Certificates, the weighted average of the Adjusted Maximum Mortgage Rates on the Mortgage Loans in Loan Subgroup 2B, and (iii) with respect to the Group 2 Subordinate Certificates, the lesser of (i) and (ii) above, in each case, multiplied by a fraction, the numerator of which is 30 and the denominator of which is the number of actual days elapsed in the related Accrual Period; provided, however, that if either Loan Subgroup is reduced to zero, the Weighted Maximum Rate Cap shall be the weighted average of the Adjusted Maximum Mortgage Rates on the Mortgage Loans in the remaining Loan Subgroup.
Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to (i) the weighted average of the Maximum Mortgage Rates on the Mortgage Loans (calculated based upon the Stated Principal Balance of such Mortgage Loans as of the preceding Distribution Date) on such Distribution Date minus and (ii) the Servicing Fee Rate. WMC: WMC Mortgage Corporation, a New Jersey corporation, or its successor in interest.
Weighted Maximum Rate Cap. As of any Distribution Date, a rate equal to the product of (x) 12 times the quotient obtained by dividing the excess of (i) the interest that would have been payable on the Mortgage Loans (based on their Stated Principal Balances) at their Maximum Mortgage Rates during the related Due Period over (ii) the related Servicing Fees, the Credit Risk Management Fee, the Trustee Fee and premiums paid by the Servicer on the related LPMI Policy, by the aggregate Stated Principal Balance of the Mortgage Loans and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of the days in the related Accrual Period.
Weighted Maximum Rate Cap. As of any Distribution Date, a per annum rate equal to the weighted average of the Maximum Mortgage Rates on the Adjustable Rate Mortgage Loans and the Mortgage Rates on the Fixed Rate Mortgage Loans (calculated based upon the Stated Principal Balance of such Mortgage Loans as of the preceding Distribution Date) on such Distribution Date minus the sum of (a) the Servicing Fee Rate and (b) the PMI Insurer Fee Rate, if applicable, multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the relevant Accrual Period.
Weighted Maximum Rate Cap. As of any Distribution Date, a per annum rate equal to the weighted average of the Maximum Mortgage Rates on the Adjustable Rate Mortgage Loans and the Mortgage Rates on the Fixed Rate Mortgage Loans (calculated based upon the Stated Principal Balance of such Mortgage Loans as of the preceding Distribution Date) on such Distribution Date minus the Servicing Fee Rate, multiplied by a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the relevant Accrual Period.
Weighted Maximum Rate Cap. As of any Distribution Date, a rate determined by (A) dividing the interest that would have accrued at the maximum lifetime Net Mortgage Rates on the Adjustable Rate Mortgage Loans and at the Net Mortgage Rates on the Fixed Rate Mortgage Loans, less the Current Interest on the Class X Certificates, by the aggregate principal amount of the Mortgage Loans, and (B) multiplying the result by 12.