Targeted Overcollateralization Amount. As of any Distribution Date, (a) prior to the Stepdown Date, the sum of (i) 2.55% of the Cut-off Date Pool Principal Balance and (ii) the Aggregate Class B Early Distribution Amount, and (b) on and after the Stepdown Date, the lesser of (i) the sum of (A) 2.55% of the Cut-off Date Pool Principal Balance and (B) the Aggregate Class B Early Distribution Amount and (ii) the greater of (A) the excess of (I) 10.10% of the Pool Principal Balance as of the last day of the related Due Period over (II) the excess of (x) the sum of the Class Certificate Balances of the Class B-1, Class B-2 and Class B-3 Certificates as of the Closing Date over (y) the aggregate of distributions made in respect of principal to the Class B-1, Class B-2 and Class B-3 Certificates on all prior Distribution Dates and (B) 0.50% of the Cut-off Date Pool Principal Balance. With respect to any Distribution Date on which a Trigger Event is in effect, the Targeted Overcollateralization Amount will be equal to the Targeted Overcollateralization Amount for the immediately preceding Distribution Date. Tax Matters Person ------------------ The person designated as "tax matters person" in the manner provided under Treasury regulation ss.1.860F-4(d) and temporary Treasury regulation ss.301.6231(a)(7)-1T. Initially, the Tax Matters Person shall be the Trustee. Tax Matters Person Certificate ------------------------------ The Class R Certificate with a Denomination of .00001%. Termination Price ----------------- As defined in Section 9.01. Transfer -------- Any direct or indirect transfer or sale of any Ownership Interest in a Class R Certificate. Transfer Affidavit ------------------ As defined in Section 5.02(c). Transferor Certificate ---------------------- As defined in Section 5.02(b). Trigger Event ------------- With respect to any Distribution Date, if (a) the six-month rolling average of 60+ Day Delinquent Loans equals or exceeds 42.00% of the Senior Enhancement Percentage or (b) the aggregate amount of Realized Losses incurred since the Cut-off Date through the last day of the related Due Period divided by the Cut-off Date Pool Principal Balance exceeds the applicable percentages set forth below with respect to that Distribution Date: ------------------------------------------------------------------------------------------------------------------------- Distribution Date Occurring In Percentage --------------------------------------------------------------------------------------------------...
Targeted Overcollateralization Amount. 1.00% of the Targeted Overcollateralization Amount.
Targeted Overcollateralization Amount. As of any Distribution Date, (a) prior to the Stepdown Date, the sum of (i) 1.65% of the Cut-off Date Pool Principal Balance and (ii) the Aggregate Class B Early Distribution Amount, and (b) on and after the Stepdown Date, the lesser of (i) the sum of (A) 1.65% of the Cut-off Date Pool Principal Balance and (B) the Aggregate Class B Early Distribution Amount and (ii) the greater of (A) the excess of (I) 8.80% of the Pool Principal Balance as of the last day of the related Due Period over (II) the excess of (x) the sum of the Class Certificate Balances of the Class B-1, Class B-2 and Class B-3 Certificates as of the Closing Date over (y) the aggregate of distributions made in respect of principal to the Class B-1, Class B-2 and Class B-3 Certificates on all prior Distribution Dates and (B) 0.50% of the Cut-off Date Pool Principal Balance. With respect to any Distribution Date on which a Trigger Event is in effect, the Targeted Overcollateralization Amount will be equal to the Targeted Overcollateralization Amount for the immediately preceding Distribution Date (after taking into account any distributions made in respect of principal to the Class B-1, Class B-2 and Class B-3 Certificates on the immediately preceding Distribution Date pursuant to clauses (xxxiii), (xxxiv) and (xxxv) of Section 4.02(d).
Targeted Overcollateralization Amount. The Targeted Overcollateralization Amount shall equal (1) with respect to any Distribution Date prior to the Stepdown Date, 2.20% of the Aggregate Loan Group Balance as of the Cut-off Date; (2) with respect to any Distribution Date on or after the Stepdown Date and with respect to which a Trigger Event has not occurred, the greater of (a) 4.40% of the Aggregate Loan Group Balance for such Distribution Date, and (b) 0.50% of the Aggregate Loan Group Balance as of the Cut-off Date; and (3) with respect to any Distribution Date on or after the Stepdown Date with respect to which a Trigger Event has occurred and is continuing, the Targeted Overcollateralization Amount for the Distribution Date immediately preceding such Distribution Date.
Targeted Overcollateralization Amount. Not applicable. Tax Matters Person: Not applicable.
Targeted Overcollateralization Amount. On the Closing Date, the Targeted Overcollateralization Amount shall be an amount equal to the Initial Targeted Overcollateralization Amount;
Targeted Overcollateralization Amount. As to any Distribution Date, (x) prior to the Stepdown Date, [ ]% of the Cut-Off Date Pool Balance, and (y) on and after the Stepdown Date and assuming a Trigger Event is not in effect, the greater of (i) [ ]% of the Pool Balance as of the last day of the related Collection Period and (ii) [ ]% of the Cut-Off Date Pool Balance. If a Trigger Event is in effect on and after the Stepdown Date, the Targeted Overcollateralization Amount shall be equal to the Targeted Overcollateralization Amount for the immediately preceding Distribution Date.
Targeted Overcollateralization Amount. As of any Distribution Date, (a) prior to the Stepdown Date, the sum of (i) 2.70% of the Initial Aggregate Trust Fund Principal Balance and (ii) the Aggregate Class B Early Distribution Amount, and (b) on and after the Stepdown Date, the lesser of (i) the sum of (A) 2.70% of the Initial Aggregate Trust Fund Principal Balance and (B) the Aggregate Class B Early Distribution Amount and (ii) the greater of (A) the excess of (I) 13.00% of the Aggregate Trust Fund Principal Balance as of the last day of the related Due Period over (II) the excess of (x) the sum of the Class Certificate Balances of the Class B-1, Class B-2, Class B-3 and Class B-4 Certificates as of the Closing Date over (y) the aggregate of distributions made in respect of principal to the Class B-1, Class B-2, Class B-3 and Class B-4 Certificates on all prior Distribution Dates and (B) 0.50% of the Initial Aggregate Trust Fund Principal Balance. With respect to any Distribution Date on which a Trigger Event is in effect, the Targeted Overcollateralization Amount will be equal to the Targeted Overcollateralization Amount for the immediately preceding Distribution Date (after taking into account any distributions made in respect of principal to the Class B-1, Class B-2, Class B-3 and Class B-4 Certificates on the immediately preceding Distribution Date).
Targeted Overcollateralization Amount. (1) before the Stepdown Date, the sum of (a) 4.05% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date and (b) the cumulative amount of excess interest used to pay down the Certificate Principal balance of the Class B-5 Certificates on all prior Distribution Dates; and (2) after the Stepdown Date, the product of (A) the sum of (i) 8.10% and (ii) the quotient of (X) the product of (x) the cumulative amount of excess interest used to pay down the Certificate Principal Balance of the Class B-5 Certificates on all prior Distribution Dates and (y) 2 and (Y) the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-Off Date and (B) the current Stated Princiapl Balance of the Mortgage Loans, after taking in effect the distribution of the Principal Distribution Amount for such Distribution Date but in no event less than 0.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.
Targeted Overcollateralization Amount. As to any Payment Date and the Group 1 Mortgage Loans, (x) prior to the Group 1 Stepdown Date, 13.75% of the Group 1 Cut-Off Date Pool Balance and (y) on and after the Group 1 Stepdown Date and assuming a Trigger Event for the Group 1 Mortgage Loans is not in effect, the greater of (i) 27.50% of the Pool Balance of the Group 1 Mortgage Loans as of the end of the related Collection Period and (ii) 1.00% of the Group 1 Cut-Off Date Pool Balance. If a Trigger Event for the Group 1 Mortgage Loans is in effect on and after the Group 1 Stepdown Date, the Group 1 Targeted Overcollateralization Amount for any Payment Date shall be equal to the Group 1 Targeted Overcollateralization Amount for the immediately preceding Payment Date.
