Overcollateralization Increase Event definition

Overcollateralization Increase Event. As of any date of determination, any of the following events has occurred and is continuing:
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Overcollateralization Increase Event. On any date of determination, (i) the Cash Flow Ratio is less than 80%, (ii) the amount on deposit in the Reserve Account is less than the Required Reserve Account Amount for seven (7) consecutive days, or (iii) more than 25% of the total number of Securitization Facilities are in breach of a Level 2 Tngger.
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Overcollateralization Increase Event means that, as of any Payment Date, any Level I Overcollateralization Increase Event, Level II Overcollateralization Event or Level III Overcollateralization Increase Event occurs. Notwithstanding the foregoing, any Overcollateralization Increase Event may be cured and deemed not to exist and be continuing if for three consecutive Payment Dates following a Payment Date on which such
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Examples of Overcollateralization Increase Event in a sentence

  • On any day prior to the occurrence of an Overcollateralization Increase Event, 6.0% and after the occurrence of an Overcollateralization Increase Event, 10%.

Related to Overcollateralization Increase Event

  • 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.