Group I Overcollateralization Amount definition

Group I Overcollateralization Amount. With respect to any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Group I 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-I Certificates and Class M-I Certificates as of such date, before taking into account distributions of principal to be made on that Distribution Date.

Group I Overcollateralization Amount. With respect to any Distribution Date, the excess, if any, of the aggregate Stated Principal Balance of the Group I Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period, and after reduction for Realized Losses incurred during the prior calendar month) over the aggregate Certificate Principal Balance of the Class I-A Certificates and Class I-M Certificates on such Distribution Date (after taking into account the payment of principal other than any Group I Extra Principal Distribution Amount on such Certificates).

Group I Overcollateralization Amount. As of any Payment Date, the difference between (x) the sum of (i) the Loan Balance of the Mortgage Loans in Group I as of the last day of the immediately preceding Remittance Period and (ii) any amounts on deposit in the Pre-Funding Account relating to Group I and (y) the aggregate Certificate Principal Balance of the Group I Certificates (after taking into account all distributions of principal on such Group I Certificates as of such Payment Date).

Examples of Group I Overcollateralization Amount in a sentence

• Notwithstanding the foregoing, on any Payment Date on which the sum of the Certificate Principal Balance of the Subordinate Certificates related to Group I and the Group I Overcollateralization Amount is zero, any amounts of principal payable to the Owners of the Class A Certificates related to Group I on such Payment Date shall be distributed pro rata.

• Any Group I Excess Losses on the Mortgage Loans, to the extent not covered by the Policy, will be allocated to the Class A-I Certificates on a pro rata basis, in an amount equal to a fraction of such losses equal to (x) the aggregate Certificate Principal Balance of the Class A-I Certificates over (y) the aggregate Stated Principal Balance of the Group I Loans, and the remainder of such losses shall be allocated to the Group I Overcollateralization Amount in reduction of the amount thereof.

• Interest accruing on the Class MT3-I Interest in respect of each Distribution Date in an amount equal to the sum of (i) 1% of the increase in the Group I Overcollateralization Amount from the immediately preceding Distribution Date, and (ii) 1% of the Group I Aggregate Net Excess Turbo Amount, shall be deferred and added to the principal balance of the Class MT3-I Interest.

• Any Group I Excess Losses on the Mortgage Loans will be allocated to the Class A-I Certificates and Class M-I Certificates on a pro rata basis, in an amount equal to a fraction of such losses equal to (x) the aggregate Certificate Principal Balance of the Class A-I Certificates and Class M-I Certificates over (y) the aggregate Stated Principal Balance of the Group I Loans, and the remainder of such losses shall be allocated to the Group I Overcollateralization Amount in reduction of the amount thereof.

• For purposes of Section 4.02(b), (c), (d) and (e), following the application of Realized Losses on any Distribution Date, the payment of Excess Cash Flow pursuant to Section 4.02(g)(iii) as principal on the Class A-I Certificates or Class A-II Certificates to achieve the Required Overcollateralization Amount will be treated as an increase in the Group I Overcollateralization Amount or Group II Overcollateralization Amount, as applicable.

More Definitions of Group I Overcollateralization Amount

Group I Overcollateralization Amount. With respect to the Class I Notes, and any Payment Date, the amount by which the Pool Balance of the Group I Loans after applying payments received in the related Collection Period exceeds the aggregate Security Balance of the Class I Notes on such Payment Date (after application of Principal Collections for such date and any payments in respect to Liquidation Loss Amounts). On each Payment Date, the Group I Overcollateralization Amount available to cover Liquidation Loss Amounts on such Payment Date, if any, shall be deemed to be reduced by an amount equal to any Liquidation Loss Amounts (other than any Excess Loss Amounts) for such Payment Date on the Group I Loans, except to the extent that such Liquidation Loss Amounts were covered on such Payment Date by P&I Collections on the Group I Loans pursuant to Section 3.05(a)(I) of the Indenture, or P&I Collections on the Group II Loans pursuant to Section 3.05(a)(II) of the Indenture.

Group I Overcollateralization Amount. With respect to any Distribution Date the excess of the Assumed Principal Balance of the Mortgage Loans in Group I over the Group I Certificate Principal Balance after giving effect to principal distributions on such Distribution Date.

Group I Overcollateralization Amount. As of any Payment Date, the amount, if any, by which (x) the aggregate Loan Balance of the Mortgage Loans in Group I as of the close of business on the last day of the immediately preceding Remittance Period plus amount on deposit in the Pre-Funding Account as of the close of business on the last day of the immediately preceding Remittance Period exceeds (y) the aggregate Certificate Principal Balance of the Group I Certificates after taking into account all distributions of principal on such Group I Certificates as of such Payment Date (except for any payment to be made as to principal from the proceeds of the Certificate Insurance Policy).

Group I Overcollateralization Amount. As of any Payment Date, the amount, if any, by which (x) the aggregate Loan Balance of the Mortgage Loans in Group I as of the close of business on the last day of the immediately preceding Remittance Period exceeds (y) the aggregate Certificate Principal Balance of the Group I Certificates after taking into account all

Group I Overcollateralization Amount. Required With respect to any payment date prior to the Group I Stepdown Date, the Group I Required Overcollateralization Amount will equal 1.50% of the aggregate Group I Cut-Off Date Balance. With respect to any distribution on or after the Group I Stepdown Date, the Group I Required Overcollateralization Amount will equal the lesser of (a) the initial Group I Required Overcollateralization Amount and (b) 3.00% of the aggregate principal balance of the Group I Loans, subject to the Group I Overcollateralization Floor. Group I Overcollateralization Floor: An amount equal to 0.50% of the Group I Cut-off Date Balance. Group I Stepdown Date: The later of (a) the April 2005 Payment Date and (b) the payment date on which the aggregate principal balance of the Group I Loans after applying payments received in the related collection period is less than 50% of the initial aggregate principal balance of the Group I Loans, subject to the satisfaction of certain conditions specified in the indenture. -------------------------- ---------------------------------------------------- ________________________________________________________________________________ THIS INFORMATION IS FURNISHED TO YOU BY SXXXXXX XXXXX BXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. SXXXXXX XXXXX BXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH THE PROPOSED TRANSACTION. THIS INFORMATION IS FURNISHED TO YOU BY SXXXXXX XXXXX BXXXXX AND NOT BY THE ISSUER OF THE SECURITIES OR ANY OF ITS AFFILIATES. SXXXXXX XXXXX BXXXXX IS ACTING AS UNDERWRITER AND NOT ACTING AS AGENT FOR THE ISSUER IN CONNECTION WITH THE PROPOSED TRANSACTION. RFMSII SERIES 2002-HS3 HOME EQUITY LOAN-BACKED TERM NOTES $432,500,000 (APPROXIMATE) -------------------------------------------------------------------------------- CLASS A-I-6 PRINCIPAL DISTRIBUTION:

Group I Overcollateralization Amount. For any Distribution Date, the amount, if any, by which (i) the aggregate Stated Principal Balance of the Group I Mortgage Loans (after giving effect to Scheduled Monthly Payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) exceeds (ii) the aggregate Certificate Principal Balance of the Class I-A, Class I-B and Class I-P Certificates plus one-half of the aggregate Certificate Principal Balance of the Class R and Class RX Certificates as of such Distribution Date (after taking into account the principal distributed on that Distribution Date and the increase of any Certificate Principal Balance of any Class of Certificates as a result of Subsequent Recoveries).

Group I Overcollateralization Amount. With respect to any Distribution Date, the excess, if any, of (i) the aggregate principal balance of the Group I Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period, and after reduction for Realized Losses on the Group I Mortgage Loans incurred during the related Prepayment Period) plus related amounts on deposit in the Pre-Funding Account over (ii) the aggregate Current Principal Amount of the Class I-A Certificates and the Class I-B Certificates, taking into account the distributions of principal, less the related Net Deferred Interest, to be made on such Distribution Date.