Class A Target Balance definition
Class A Target Balance means the positive difference, if any, of the Collateral Balance over the Class A Target Overcollateralization Amount.
Class A Target Balance. (i) For each Payment Date (a) prior to the Stepdown Date, (b) on which a Trigger Event is in effect or (c) on which the Pool Principal Balance is less than or equal to 20% of the Pool Principal Balance as of the Cut-off Date, zero and (ii) for each Payment Date on or after the Stepdown Date provided that a Trigger Event is not in effect and that the Pool Principal Balance is greater than 20% of the Pool Principal Balance as of the Cut-off Date, the Pool Principal Balance minus the greater of (x) 63.00% of the Pool Principal Balance and (y) the Overcollateralization Target Amount for such Payment Date; provided, however, that, in no event will the Class A Target Balance for any Payment Date be greater that the Class A Note Balance as of the day immediately preceding such Payment Date.
Class A Target Balance means the positive difference, if any, of the Collateral Balance over the Class A Target Overcollateralization Amount. “Class A Target Overcollateralization Amount” means (a) as of any Payment Date prior to the occurrence of a Trigger Event, the greater of (i) 34.75%
More Definitions of Class A Target Balance
Class A Target Balance. As of any Payment Date, the Pool Principal Balance for that Payment Date minus the Overcollateralization Target Amount for that Payment Date; provided, however, that, in no event will the Class A Target Balance for any Payment Date be greater than the Class A Note Balance as of the day immediately preceding such Payment Date.
Class A Target Balance will equal (i) for each payment date prior to the stepdown date, on which a trigger event is in effect or on which the pool principal balance is less than or equal to [20% ]of the pool principal balance as of the cut-off date, zero and (ii) for each payment date on or after the stepdown date provided that a trigger event is not in effect and that the pool principal balance is greater than [20%] of the pool principal balance as of the cut-off date, the pool principal balance minus the greater of (x) __%% of the pool principal balance and (y) the overcollateralization target amount for that payment date; provided, however, that, in no event will the Class A target balance for any payment date be greater that the Class A note balance as of the day immediately preceding that payment date.