OC Floor definition

OC Floor. An amount equal to 0.50% of the Pool Balance as of the Cut-Off Date.

OC Floor. With respect to any Distribution Date, an amount equal to 0.50% of the sum of the aggregate Cut-off Date Principal Balance of the Initial Mortgage Loans and the Pre-Funded Amount.

OC Floor. For any Distribution Date, 0.50% of the Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.

Examples of OC Floor in a sentence

• As to any Distribution Date on which a Delinquency Event does not exist, the Required Overcollateralization Amount without giving effect to the OC Floor calculation.

• GARAGESGarages come standard with:• 9’ Roll-Up Door• Diamond Plated Threshold• 12” OC Floor Joists• 36” Steel-Clad Walk-In Door• 2’x3’ Window STANDARD MODELLOFTED BARN GARAGESLofted Barn Garages come with the same standard features as Garages, but also with lofts that can add up to 80% more storage space in the same square footage area (the lofts require 78” wall heights).

• Notwithstanding the foregoing, the Required Overcollateralization Amount I shall never be less than the OC Floor.

• As to any Distribution Date on which a Delinquency Event does not exist, the Required Overcollateralization Amount II without giving effect to the OC Floor calculation.

• OC”) Initial OC (% Original) 0.00% OC Target (% Original) 3.40% Stepdown OC Target (% Current) (1) 6.80% OC Floor (% Original) 0.65% OC Holiday 1 month (1) Subject to certain trigger events as specified herein This information does not constitute either an offer to sell or a solicitation of an offer to buy any of the securities referred to herein.

More Definitions of OC Floor

OC Floor. An amount equal to 0.50% of the Cut-off Date Pool Principal Balance of the Mortgage Loans.

OC Floor. An amount equal to 0.50% of the aggregate Certificate Principal Balance of the Offered Certificates as of the Closing Date. (i.e., $875,000).

OC Floor. An amount equal to 0.50% of the sum of the Initial Cut-off Date Pool Principal Balance and the Pre-Funded Amount.

OC Floor. An amount equal to 0.50% of the aggregate Stated Principal Balance of the Group I Mortgage Loans as of the Cut-off Date.

OC Floor means an amount equal to 0.50% of the sum of the Initial Cut-off Date Pool Principal Balance and the original Pre-Funded Amount.

OC Floor. With respect to any Distribution Date prior to the Distribution Date in December 2026, an amount equal to 0.35% of the sum of the Initial Cut-off Date Pool Principal Balance and the original Pre-funded Amount. With respect to any Distribution Date on or after the Distribution Date in December 2026, the greater of (a) 0.35% of the sum of the Initial Cut-off Date Pool Principal Balance and the original Pre-funded Amount and (b) the sum of (x) the aggregate Stated Principal Balance of the 40-Year Mortgage Loans as of the Due Date in the month of that Distribution Date (after giving effect to Principal Prepayments received in the related Prepayment Period) and (y) 0.10% of the sum of the Initial Cut-off Date Pool Principal Balance and the original Pre-funded Amount.

OC Floor means an amount equal to [___]% of the sum of (1) the aggregate of the Loan Balances of all Mortgage Loans as of the Initial Cut-Off Date and (2) the Original Pre-Funded Amount.]