Group II Targeted Overcollateralization Amount definition

Group II Targeted Overcollateralization Amount. On any Payment Date (x) prior to the Group II Stepdown Date, 3.75% of the aggregate Certificate Principal Balance of the Group II Certificates as of the Startup Day and (y) on or after the Group II Stepdown Date, the greater of (A) 7.50% of the aggregate outstanding Loan Balance of the Mortgage Loans in Group II as of the last day of the related Remittance Period and (B) $3,052,500.
Sample 1
Group II Targeted Overcollateralization Amount. On any Payment Date (x) prior to the Group II Stepdown Date, $11,200,000 and (y) on or after the Group II Stepdown Date, the greater of (i) 8.0% of the aggregate outstanding Loan Balance of the Mortgage Loans in Group II as of the last day of the related Remittance Period and (ii) the Group II Floor Amount.
Sample 1
Group II Targeted Overcollateralization Amount. As defined in the Insurance Agreement.
Sample 1Sample 2

Examples of Group II Targeted Overcollateralization Amount in a sentence

  • However, if a Group II Trigger Event has occurred on the related Distribution Date, the Group II Targeted Overcollateralization Amount shall be equal to the Group II Targeted Overcollateralization Amount for the previous Distribution Date (after taking into account any distributions of principal made with respect to the Class BV-1, Class BV-2 and Class BV-3 Certificates pursuant to clauses 6), 7) and 8) of "Group II Priority of Payments" on the prior Distribution Date).


More Definitions of Group II Targeted Overcollateralization Amount

Group II Targeted Overcollateralization Amount. On any Payment Date (x) prior to the Group II Stepdown Date, $3,200,000 and (y) on or after the Group II Stepdown Date, (A) if a Group II Trigger Event is not in effect the greater of (x) 2.5% of the aggregate outstanding Loan Balance of the Home Equity Loans in Group II as of the last day of the related Remittance Period and (y) $1,600,000 or (B) if a (B) if a Group II Trigger Event is in effect, the Group II Targeted Overcollateralization Amount for the immediately preceding Payment Dates; provided, that, upon the occurrence and during the continuance of a Cumulative Realized Loss Trigger Event, the Group II Targeted Overcollateralization Amount shall be $8,480,000.
Sample 1
Group II Targeted Overcollateralization Amount. As of any Payment Date, (x) prior to the Stepdown Date with respect to Group II and (i) if none of the Stepup Trigger Events (as defined below) has occurred and is in effect, 3.00% of the Group II Original Pool Balance and (ii) if any of the Stepup Trigger Events has occurred and is in effect, 4.00% of the Group II Original Pool Balance, and (y) on and after the Stepdown Date with respect to Group II and (i) if none of the Stepup Trigger Events has occurred and is in effect, the greater of (1) 6.00% of the aggregate outstanding Loan Balance of the Group II Mortgage Loans as of the end of the related Remittance Period and (2) $2,000,000 and (ii) if any of the Stepup Trigger Events has occurred and is in effect, the greater of (1) 8.00% of the aggregate outstanding Loan Balance of the Group II Mortgage Loans as of the end of the related Remittance Period and (2) $2,000,000; provided,
Sample 1
Group II Targeted Overcollateralization Amount shall be applied as a payment of principal with respect to the Subordinate Certificates in reverse order of seniority (i.e., first to the Class B-1 Certificates, second to the Class M-2 Certificates, third to the Class M-1 Certificates and fourth, to the Class A-8 Certificates and the Class A-7 Certificates (but only with respect to Component II) until their respective Certificate Principal Balances have been reduced to zero.
Sample 1
Group II Targeted Overcollateralization Amount. As of any Payment Date with respect to the Group II Notes, (x) prior to the Group II Stepdown Date, 12.50% of the initial Principal Balance of the Group II Mortgage Loans and (y) on and after the Group II Stepdown Date, the lesser of (i) 12.50% of the initial Principal Balance of the Group II Mortgage Loans and (ii) the greater of (A) 25.00% of the Principal Balance of the Group II Mortgage Loans as of the last day of the related Collection Period and (B) the greater of (i) 0.50% of the initial Principal Balance of the Group II Mortgage Loans or (ii) the aggregate Principal Balance of the three Group II Mortgage Loans with the highest Principal Balance as of the Cut-off Date .
Sample 1
Group II Targeted Overcollateralization Amount. As of any Payment Date means:
Sample 1
Group II Targeted Overcollateralization Amount. As of any Payment Date, (w) on or prior to the sixth Payment Date, zero, (x) after the sixth Payment Date, but prior to the Stepdown Date, 1.3% of the Original Group II Loan Balance, (y) on and after the Stepdown Date (A) if neither a Delinquency Trigger Event nor a Cumulative Realized Loss Trigger Event is in effect, the greater of (I) 2.795% of the Group II Loan Balance and (II) the Group II Overcollateralization Floor or (B) if a Delinquency Trigger Event is in effect but a Cumulative Realized Loss Trigger Event is not in effect, the Group II Targeted Overcollateralization Amount for such Payment Date shall be equal to the Group II Targeted Overcollateralization Amount for the immediately preceding Payment Date and (z) if at any time a Cumulative Realized Loss Trigger Event is in effect (whether or not a Delinquency Trigger Event is in effect), the product of (I) a fraction, the numerator of which is $36,380,000 and the denominator of which is the Total Loan Balance and (II) the Group II Loan Balance.
Sample 1

Related to Group II Targeted Overcollateralization Amount

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

  • 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.

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

  • 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.

  • 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.

  • 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.

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

  • 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 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.

  • 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 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.

  • 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.

  • 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 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.

  • 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.

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

  • 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 Group As defined in Section 4.03.

  • Group II Available Funds As defined in Section 7.3(a)(ii) hereof.

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

  • Class A Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class A Floating Percentage of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date, (b) the Class A Floating Percentage of the Reallocated Investor Finance Charge Collections and (c) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be included in Class A Available Funds with respect to such Distribution Date.

  • 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.