Senior Credit Enhancement Percentage. As of any Distribution Date is equal to a fraction, expressed as a percentage, the numerator of which is the sum of the aggregate Certificate Principal Balance of the Subordinate Certificates for such Distribution Date and the Overcollateralization Amount for such Distribution Date, and the denominator of which is the Assumed Principal Balance of the Mortgage Loans as of such Distribution Date.
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (Saxon Asset Securities Trust 2002-1), Pooling and Servicing Agreement (Saxon Asset Securities Trust 2006-2), Pooling and Servicing Agreement (Saxon Asset Securities Co)
Senior Credit Enhancement Percentage. As of any Distribution Date is equal to Payment Date, a fraction, expressed as a percentage, the numerator of which is the sum of the aggregate Certificate Class Principal Balance of the Subordinate Certificates Notes for such Distribution Payment Date and the Overcollateralization Amount for such Distribution Payment Date, and the denominator of which is the Assumed Principal Balance of the Mortgage Loans as of such Distribution Payment Date.
Appears in 6 contracts
Samples: Sale and Servicing Agreement (Saxon Asset Securities Trust 2005-1), Sale and Servicing Agreement (Saxon Asset Securities Trust 2004-3), Sale and Servicing Agreement (Sast 2006-3)
Senior Credit Enhancement Percentage. As of any Distribution Payment Date is equal to a fraction, expressed as a percentage, the numerator of which is the sum of the aggregate Certificate Principal Balance of the Subordinate Certificates for such Distribution Payment Date and the Overcollateralization Amount for such Distribution Payment Date, and the denominator of which is the Assumed Principal Balance of the Mortgage Loans as of such Distribution Payment Date.
Appears in 1 contract
Samples: Sale and Servicing Agreement (Saxon Asset Securities Co)
