Class E Overcollateralization Ratio definition

Class E Overcollateralization Ratio means, as of any Measurement Date, the number (expressed as a percentage) calculated by dividing (a) the Net Outstanding Portfolio Collateral Balance on such Measurement Date by (b) (1) the aggregate outstanding principal amount of the Class A-1 Notes plus (2) the aggregate outstanding principal amount of the Class A-2 Notes plus (3) the aggregate outstanding principal amount of the Class B Notes plus (4) the aggregate outstanding principal amount of the Class C Notes (including, without duplication, any Class C Deferred Interest) plus (5) the aggregate outstanding principal amount of the Class D Notes (including, without duplication, any Class D Deferred Interest) plus (6) the aggregate outstanding principal amount of the Class E Notes (including, without duplication, any Class E Deferred Interest).
Sample 1
Class E Overcollateralization Ratio means, with respect to a determination made as of any date of calculation, a fraction (expressed as a percentage) the numerator of which is equal to (a) the sum of (1) the Net Collateral Interests Principal Balance as of such date plus (2) the Balance of Eligible Investments and cash in the Collection Account representing Principal Proceeds as of such date plus (3) the Balance of Eligible Investments and cash in the Uninvested Proceeds Account as of such date and the denominator of which is equal to (b) the Aggregate Outstanding Amount of the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes as of such date.
Sample 1
Class E Overcollateralization Ratio. With respect to a determination made as of any date of calculation, a fraction (expressed as a percentage) the numerator of which is equal to (a) the sum of (1) the Net Collateral Interests Principal Balance as of such date plus (2) the Balance of Eligible Investments and cash in the Collection Account representing Principal Proceeds as of such date plus (3) the Balance of Eligible Investments and cash in the Uninvested Proceeds Account as of such date and the denominator of which is equal to (b) the Aggregate Outstanding Amount of the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes as of such date (including any Deferred Interest).
Sample 1

Examples of Class E Overcollateralization Ratio in a sentence

  • A test that will be satisfied on any Measurement Date if the Class E Overcollateralization Ratio is at least equal to the specified Required Level indicated in the table in the definition of Overcollateralization Test.

  • A test satisfied if, as of any date of determination on and after the Effective Date, the Class E Overcollateralization Ratio is at least 104.2%.

  • The Senior Overcollateralization Ratio, the Class C Overcollateralization Ratio, the Class D Overcollateralization Ratio, the Class E Overcollateralization Ratio and the Class F Overcollateralization Ratio.

  • A test, applicable during the Reinvestment Period, that will be satisfied on any Measurement Date during the Reinvestment Period if the Class E Overcollateralization Ratio is equal to or greater than 103.0%.

  • The Class E Overcollateralization Ratio Test and the Class E Interest Coverage Test.

  • A test satisfied if, as of any date of determination on and after the Effective Date, the Class E Overcollateralization Ratio is at least 103.2%.

  • A test satisfied as of any Payment Date if the Class E Overcollateralization Ratio is equal to or greater than 140.0%.

  • The Class A Coverage Tests, the Class B Coverage Tests, the Class C Coverage Tests, the Class D Coverage Tests and the Class E Overcollateralization Ratio Test.

  • A test satisfied if, as of each Measurement Date on or after a certain date (such date, the Class E Overcollateralization Test Start Date) set forth in the Term Sheet, the Class E Overcollateralization Ratio is equal to or greater than the Class E Overcollateralization Ratio Minimum set forth in the Term Sheet.

  • A final plat that is not recorded within one (1) year shall be considered void.


More Definitions of Class E Overcollateralization Ratio

Class E Overcollateralization Ratio. As of any Measurement Date, the ratio calculated by dividing
Sample 1
Class E Overcollateralization Ratio means, as of any Measurement Date, the number (expressed as a percentage) calculated by dividing (a) the Net Outstanding Portfolio Collateral Balance on such Measurement Date by (b) (1) the aggregate outstanding principal amount of the Class A-1 Notes (including any unfunded Commitments with respect to the Class A-1A Notes) plus (2) the aggregate outstanding principal amount of the Class A-2 Notes plus (3) the aggregate outstanding principal amount of the Class B Notes plus (4) the aggregate outstanding principal amount of the Class C Notes (including without duplication, any Class C Deferred Interest) plus (5) the aggregate outstanding principal amount of the Class D Notes (including, without duplication, any Class D Deferred Interest) plus (6) the aggregate outstanding principal amount of the Class E Notes (including, without duplication, any Class E Deferred Interest).
Sample 1
Class E Overcollateralization Ratio means, as of any Measurement Date, the number (expressed as a percentage) calculated by dividing (a) the Net Outstanding Portfolio Collateral Balance on such Measurement Date by (b) (1) the aggregate outstanding principal amount of the Class A-1 Notes (including any unfunded Commitments with respect to the Class
Sample 1

Related to Class E Overcollateralization Ratio

  • Overcollateralization Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing:

  • Target Overcollateralization Amount means, with respect to any Payment Date, 3.00% of the Adjusted Pool Balance as of the Cut-off Date. Notwithstanding the foregoing, the Target Overcollateralization Amount shall not exceed the Adjusted Pool Balance on such Payment Date.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • REMIC II Overcollateralization Amount With respect to any date of determination, (i) 0.50% of the aggregate Uncertificated Balances of the REMIC II Regular Interests (other than REMIC II Regular Interest P) minus (ii) the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10 and REMIC II Regular Interest M-11, in each case as of such date of determination.

  • Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Mortgage Loans before giving effect to distributions of principal to be made on such Distribution Date over (b) the aggregate Certificate Principal Balance of the Class A Certificates and Class M Certificates immediately prior to such date.

  • Targeted Overcollateralization Amount means, for a Payment Date, an amount equal to:

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • REMIC 2 Overcollateralization Target Amount 1.00% of the Overcollateralization Target Amount.

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • Overcollateralization Floor With respect to any Distribution Date, 0.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.

  • Overcollateralization Target Amount means 0.85% of the Adjusted Pool Balance as of the Cutoff Date.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • REMIC I Overcollateralized Amount With respect to any date of determination, (i) 1% of the aggregate Uncertificated Balance of the REMIC I Regular Interests (other than REMIC I Regular Interest I-LTP) minus (ii) the aggregate Uncertificated Balance of REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10, in each case as of such date of determination.

  • Aggregate Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the aggregate of the Principal Remittance Amounts for each Mortgage Pool for such Distribution Date and (y) the amount, if any, by which (i) the Overcollateralization Amount for such date, calculated for this purpose on the basis of the assumption that 100% of the aggregate of the Principal Remittance Amounts for such Distribution Date is applied on such date in reduction of the aggregate Certificate Principal Amount of the Certificates, exceeds (ii) the Targeted Overcollateralization Amount for such Distribution Date.

  • Excess Overcollateralized Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date.

  • Overcollateralization Increase Amount With respect to any Distribution Date, the lesser of (a) the Overcollateralization Deficiency Amount as of such Distribution Date and (b) the Net Monthly Excess Cashflow for such Distribution Date.

  • Overcollateralization Deficiency For any Distribution Date will be equal to the amount, if any, by which (x) the Targeted Overcollateralization Amount for such Distribution Date exceeds (y) the Overcollateralization Amount for such Distribution Date, calculated for this purpose after giving effect to the reduction on such Distribution Date of the aggregate Class Principal Balance of the Certificates resulting from the payment of the Principal Payment Amount on such Distribution Date, but prior to allocation of any Applied Loss Amount on such Distribution Date.

  • Overcollateralized Amount As of any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date over (b) the aggregate of the Class Certificate Balances of the LIBOR Certificates as of such Distribution Date (after giving effect to the payment of the Principal Remittance Amount on such Certificates on such Distribution Date).

  • Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the Principal Remittance Amount for such Distribution Date and (y) the Excess Overcollateralized Amount.

  • Overcollateralized Group As defined in Section 4.03.

  • Undercollateralization Distribution As defined in Section 4.2(g).

  • Undercollateralized Amount As defined in Section 4.01(b)(iii).

  • Undercollateralized Group As defined in Section 4.03.

  • Class B Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class B Floating Percentage of the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date.