Specified Overcollateralization Amount Clause Samples
The Specified Overcollateralization Amount clause defines the minimum level of collateral that must be maintained above the outstanding obligations in a secured transaction. In practice, this means that the borrower is required to provide collateral whose value exceeds the amount of the loan or exposure, often by a set percentage or fixed amount, to protect the lender against fluctuations in collateral value or borrower default. This clause serves to mitigate credit risk for the lender by ensuring there is a sufficient buffer of collateral, thereby enhancing the security of the transaction.
Specified Overcollateralization Amount. The Federal Deposit Insurance Corporation, and any successor thereto.
Specified Overcollateralization Amount. 0.25% of the Cut-off Date Balance of the Mortgage Loans. Startup Day: April 3, 2003.
Specified Overcollateralization Amount. On any Payment Date prior to the Stepdown Date, is an amount equal to 2.25% of the Initial Invested Amount and on any Payment Date on or after the Stepdown Date is an amount equal to the greater of (i) 0.50% of the Initial Invested Amount and (ii) 4.50% of the Invested Amount for such Payment Date. Sponsor: IndyMac Bank, F.S.B., a federal savings bank.
Specified Overcollateralization Amount. As of the Delivery Date, zero;
Specified Overcollateralization Amount. Any other amounts paid to the Insurer pursuant to the Insurance Agreement $_________
Specified Overcollateralization Amount. As of any Payment Date (i) prior to the Stepdown Date, the greater of (A) [ ]% of the Cut-Off Date Principal Balance of the Loans and (B) the Step-Up Overcollateralization Amount or (ii) on or after the Stepdown Date the greatest of: (A) [ ]% of the Pool Balance as of the end of the related Collection Period, (B) the Step-Up Overcollateralization Amount and (C) [ ]% of the Cut-Off Date Principal Balance of the Loans. Notwithstanding the foregoing, no reduction in clause (ii) may occur unless the aggregate Cumulative Loss Amounts with respect to the Loans as a percentage of the Cut-Off Date Principal Balance are less than the percentages specified below: Months [ ]- [ ] [ ]% of original principal balance plus 1/12 of [ ]% for each month thereafter Months [ ]- [ ] [ ]% of original principal balance plus 1/12 of [ ]% for each month thereafter Months [ ] and after [ ]% of original principal balance or if the Three-Month Rolling Delinquency Rate exceeds [ ]%.
Specified Overcollateralization Amount. As of any Payment Date (i) prior to the Stepdown Date, the greater of (A) 3.00% of the Cut-Off Date Principal Balance of the Loans and (B) the Step-Up Overcollateralization Amount or (ii) on or after the Stepdown Date the greatest of: (A) 6.00% of the Pool Balance as of the end of the related Collection Period, (B) the Step-Up Overcollateralization Amount and (C) 0.50% of the Cut-Off Date Principal Balance of the Loans. Notwithstanding the foregoing, no reduction in clause (ii) may occur unless the aggregate Cumulative Loss Amounts with respect to the Loans as a percentage of the Cut-Off Date Principal Balance are less than the percentages specified below: Months 31-42 2.25% of original principal balance plus 1/12 of 0.50% for each month thereafter Months 43-54 2.75% of original principal balance plus 1/12 of 0.50% for each month thereafter Months 55 and after 3.25% of original principal balance or if the Three-Month Rolling Delinquency Rate exceeds 4.25%.