Overcollateralization Target Amount. As of any Distribution Date, 1.30% of the Initial Aggregate Receivables Principal Balance.
Overcollateralization Target Amount means, with respect to any Distribution Date, 4.75% of the Pool Balance as of the Cutoff Date.
Overcollateralization Target Amount means, with respect to any Payment Date, an amount equal to 1.15% of the aggregate Principal Balance of the Receivables as of the end of the related Collection Period less the Yield Supplement Overcollateralization Amount of those Receivables as of the last day of the related Collection Period, but not less than the result of 0.50% of the Aggregate Starting Principal Balance of the Receivables minus the Yield Supplement Overcollateralization Amount as of the Closing Date.
Examples of Overcollateralization Target Amount in a sentence
Any Excess Spread to the extent necessary to meet a level of overcollateralization equal to the Overcollateralization Target Amount will be the Extra Principal Distribution Amount and will be included as part of the Principal Distribution Amount and distributed as described below under “— Principal Distributions”.
Distributions of the Overcollateralization Release Amount are intended to reduce overcollateralization to a level that matches the Overcollateralization Target Amount.
Rather, until the Overcollateralization Amount equals the Overcollateralization Target Amount, Excess Spread constitutes “Extra Principal Distribution Amount” that is distributed under the principal waterfall in order to increase the Overcollateralization Amount for the Subject Trusts.
If the collateral is not performing in such a manner, then the Overcollateralization Target Amount equals the target for the immediately prior payment period.
See PSA § 1.01 (Definition of Overcollateralization Target Amount).
More Definitions of Overcollateralization Target Amount
Overcollateralization Target Amount means 0.85% of the Adjusted Pool Balance as of the Cutoff Date.
Overcollateralization Target Amount. With respect to any Distribution Date (a) prior to the Stepdown Date, 4.70% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date and if a Trigger Event is not in effect, the greater of (i) the lesser of (1) 4.70% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date and (2) 9.40% of the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period, and after reduction for Realized Losses incurred during the prior calendar month) and (ii) the Overcollateralization Floor or (c) on or after the Stepdown Date and if a Trigger Event is in effect, the Overcollateralization Target Amount for the immediately preceding Distribution Date.
Overcollateralization Target Amount. With respect to any Distribution Date (1) prior to the Stepdown Date, 3.20% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (2) on or after the Stepdown Date provided a Trigger Event is not in effect, the greater of (x) 6.40% of the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period and (y) the Overcollateralization Floor, and (3) on or after the Stepdown Date if a Trigger Event is in effect, the Overcollateralization Target Amount for the immediately preceding Distribution Date.
Overcollateralization Target Amount. With respect to any Distribution Date (i) prior to the Stepdown Date, [_]% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (ii) on or after the Stepdown Date provided a Trigger Event is not in effect, the greater of (x) [_]% of the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced and unscheduled collections of principal received during the related Prepayment Period) and (y) $[_], or (iii) on or after the Stepdown Date and if a Trigger Event is in effect, the Overcollateralization Target Amount for the immediately preceding Distribution Date. Notwithstanding the foregoing, on and after any Distribution Date following the reduction of the aggregate Certificate Principal Balance of the Class A Certificates and the Mezzanine Certificates to zero, the Overcollateralization Target Amount shall be zero.
Overcollateralization Target Amount. With respect to any Distribution Date (i) prior to the Stepdown Date, 1.00% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (ii) on or after the Stepdown Date provided a Trigger Event is not in effect, the greater of (x) 2.00% of the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced and unscheduled collections of principal received during the related Prepayment Period) and (y) $11,999,987.74, or (iii) on or after the Stepdown Date and if a Trigger Event is in effect, the Overcollateralization Target Amount for the immediately preceding Distribution Date.
Overcollateralization Target Amount means, for any Distribution Date, the greater of (i) 0.60% of the Pool Balance as of the last day of the preceding Collection Period and (ii) 0.50% of the Pool Balance as of the Cutoff Date.
Overcollateralization Target Amount. With respect to any Distribution Date (a) prior to the Stepdown Date, an amount equal to 1.75% of the sum of the aggregate Cut-off Date Principal Balance of the Initial Mortgage Loans and the Pre-Funded Amount and (b) on or after the Stepdown Date, the greater of (i) an amount equal to 3.50% of the aggregate Stated Principal Balance of the Mortgage Loans for the current Distribution Date and (ii) the OC Floor; provided, however, that if a Trigger Event is in effect on any Distribution Date, the Overcollateralization Target Amount will be the Overcollateralization Target Amount as in effect for the prior Distribution Date.