Group II Overcollateralization Amount definition
Group II Overcollateralization Amount. With respect to any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Group II Loans before giving effect to distributions of principal to be made on such Distribution Date over (b) the Certificate Principal Balance of the Class A-II Certificates and Class M-II Certificates as of such date, before taking into account distributions of principal to be made on that Distribution Date.
Group II Overcollateralization Amount. With respect to any Distribution Date, the excess, if any, of the aggregate Stated Principal Balance of the Group II 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 related Realized Losses incurred during the related Due Period) over the aggregate Certificate Principal Balance of the Group II Certificates (other than the Class II-C Certificates) on such Distribution Date (after taking into account the payment of principal other than any Group II Extra Principal Distribution Amount on such Certificates).
Group II Overcollateralization Amount. As of any Payment Date, the difference between (x) the sum of (i) the Loan Balance of the Mortgage Loans in Group II 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 II and (y) the aggregate Certificate Principal Balance of the Group II Certificates (after taking into account all distributions of principal on such Group II Certificates as of such Payment Date).
Examples of Group II Overcollateralization Amount in a sentence
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.
Realized Losses allocated to the Group II Overcollateralization Amount pursuant to paragraph (a) shall be deemed first to reduce the principal balance of the REMIC V Regular Interest SB-II-PO until such principal balance shall have been reduced to zero and thereafter to reduce accrued and unpaid interest on the REMIC V Regular Interest SB-II-IO.
Interest accruing on the Class LT3-II Interest in respect of each Distribution Date in an amount equal to the sum of (i) 1% of the increase in the Group II Overcollateralization Amount from the immediately preceding Distribution Date, and (ii) 1% of the Group II Aggregate Net Excess Turbo Amount, shall be deferred and added to the principal balance of the Class LT3-II Interest.
Interest accruing on the Class MT3-II Interest in respect of each Distribution Date in an amount equal to the sum of (i) 1% of the increase in the Group II Overcollateralization Amount from the immediately preceding Distribution Date, and (ii) 1% of the Group II Aggregate Net Excess Turbo Amount, shall be deferred and added to the principal balance of the Class MT3-II Interest.
Realized Losses allocated to the Group II Excess Cash Flow or Group II Overcollateralization Amount pursuant to paragraphs (a) or (b) of this section, the definition of Accrued Certificate Interest and the operation of Section 4.02(d) shall be deemed allocated to the Class SB-II Certificates.
More Definitions of Group II Overcollateralization Amount
Group II Overcollateralization Amount. With respect to any Distribution Date, the excess, if any, of (i) the aggregate principal balance of the Group II 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 II Mortgage Loans incurred during the related Prepayment Period) over (ii) the aggregate Current Principal Amount of the Class II-A Certificates and the Class II-B Certificates, after taking into account the distributions of principal, less Net Deferred Interest, to be made on such Distribution Date.
Group II Overcollateralization Amount. With respect to the Class II Notes, and any Payment Date, the amount by which the Pool Balance of the Group II Loans after applying payments received in the related Collection Period exceeds the aggregate Security Balance of the Notes on such Payment Date (in each case, after application of Net Principal Collections or Principal Collections, as the case may be, for such date and acquisition by the Trust of Additional Balances on such Payment Date and any payments in respect of Liquidation Loss Amounts). On each Payment Date, the Group II 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 for such Payment Date on the Group II Loans, except to the extent that such Liquidation Loss Amounts were covered on such Payment Date by P&I Collections on the Group II Loans pursuant to Section 3.05(a)(II) of the Indenture.
Group II Overcollateralization Amount. With respect to the Class II Notes, and any Payment Date, the amount by which the Pool Balance of the Group II Loans after applying payments received in the related Collection Period exceeds the aggregate Security Balance of the Class II Notes on such Payment Date (in each case, after application of Net Principal Collections or Principal Collections, as the case may be, for such date and acquisition by the Trust of Additional Balances on such Payment Date and any payments in respect of Liquidation Loss Amounts). On each Payment Date, the Group II 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 II Loans, except to the extent that such Liquidation Loss Amounts were covered on such Payment Date by P&I Collections on the Group II Loans pursuant to Section 3.05(a)(II) of the Indenture, or P&I Collections on the Group I Loans pursuant to Section 3.05(a)(I) of the Indenture.
Group II Overcollateralization Amount. With respect to any Distribution Date, the excess, if any, of (i) the aggregate principal balance of the Group II 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 II 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 II-A Certificates and the Class II-B Certificates, after taking into account the distributions of principal, less the related Net Deferred Interest, to be made on such Distribution Date.
Group II Overcollateralization Amount. For any Distribution Date, the amount, if any, by which (i) the aggregate Stated Principal Balance of the Group II 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 II-A, Class II-B and Class II-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 or the allocation of Group II Allocated Net Deferred Interest).
Group II Overcollateralization Amount. For any Distribution Date, the amount, if any, by which (1) the aggregate Scheduled Principal Balance of the Pool II Mortgage Loans exceeds (2) the aggregate Class Principal Amount of the Group II Senior and Group II Subordinate Certificates as of such Distribution Date after giving effect to the reduction on such Distribution Date of the Class Principal Amounts of the Group II Senior and Group II Subordinate Certificates resulting from the distribution of Group II Principal Funds for Pool II on such Distribution Date.
Group II Overcollateralization Amount. As of any Payment Date, the excess, if any, of (x) the aggregate Principal Balance of the Group II Mortgage Loans as of the last day of the immediately preceding Collection Period over (y) the aggregate Note Balances of the Class IIA-1 Notes and the Group II Mezzanine Notes (after taking into account all payments of principal on such Payment Date).