Adjusted Cap Rate

Adjusted Cap Rate. For the Class A and Class M Notes and for any Payment Date, the excess of (i) the Available Funds Cap Rate over (ii)(a) the product of (I) the Net Negative Amortization for the Mortgage Loans for such Payment Date, and (II) 360 divided by the actual days in the related Accrual Period, divided by (b) the aggregate Class Note Balance of the Class A and Class M Notes immediately prior to such Payment Date.

Adjusted Cap Rate. For any Distribution Date and any Class of Certificates, the excess of (A) the weighted average Adjusted Net Mortgage Rate for the Mortgage Loans for that Distribution Date over (B) a fraction (expressed as a percentage) the numerator of which is the product of (i) the Net Deferred Interest, if any, on the Mortgage Loans for that Distribution Date and (ii) 12, and the denominator of which is the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date occurring in the month... of that Distribution Date (after giving effect to Principal Prepayments, the principal portion of Liquidation Proceeds and Subsequent Recoveries received in the related Prepayment Period). With respect to the LIBOR Certificates, the Adjusted Cap Rate will be multiplied by a fraction, the numerator of which is 30, and the denominator of which is the actual number of days that elapsed in the Interest Accrual Period. View More