Class A Overcollateralization Deficit definition
Class A Overcollateralization Deficit. For any Payment Date means the excess of the Aggregate Class A Certificate Principal Balance over the outstanding Combined Pool Balance as of the last day of the related Remittance Period.
Examples of Class A Overcollateralization Deficit in a sentence
It is understood and agreed that the intention of the parties is that the Certificate Insurer shall not be entitled to reimbursement on any Payment Date for amounts previously paid by it unless on such Payment Date the Owners of the Class A Certificates shall also have received the full amount of the Class A Current Interest and or, Class A Overcollateralization Deficit for such Payment Date.