Examples of Overcollateralization Increase Amount in a sentence
Any Charge-Off Amounts on the Group II HELOCs will be applied on any Distribution Date as follows: first, to related Net Monthly Excess Cashflow through payment of the related Overcollateralization Increase Amount, second, in reduction of the Overcollateralization Amount until reduced to zero.
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Class A Principal Distribution Amount: With respect to any Distribution Date prior to the Stepdown Date or on which a Trigger Event is in effect, 100% of the principal received on the Mortgage Loans (taking into account the Overcollateralization Increase Amount for such Distribution Date minus the Overcollateralization Reduction Amount for such Distribution Date).
After either the Group I notes in the aggregate, the Group II notes in the aggregate or the Group III notes in the aggregate are reduced to zero, the Principal Collection Distribution Amount, Liquidation Loss Amount and the Overcollateralization Increase Amount will be distributed to the remaining class or classes of the Class A notes, as described in the next paragraph, to the extent necessary to pay principal due on those classes.
Overcollateralization Increase Amount: With respect to (a) the first two Distribution Dates, $0, and (b) any Distribution Date after the first two Distribution Dates, an amount equal to the lesser of (i) the Excess Cash Flow for that Distribution Date and (ii) the excess, if any, of (x) the Required Overcollateralization Amount for that Distribution Date over (y) the Overcollateralization Amount for that Distribution Date.