Examples of Overcollateralization Release Amount in a sentence
Any Excess Spread remaining after the distribution of the Extra Principal Distribution amount will be the Remaining Excess Spread and, together with any Overcollateralization Release Amount, will be applied as Excess Cashflow as described under “—Excess Spread and Overcollateralization Provisions”.
Distributions of the Overcollateralization Release Amount are intended to reduce overcollateralization to a level that matches the Overcollateralization Target Amount.
Under the Governing Agreements, Excess Cashflow is defined as the sum of any Remaining Excess Spread and any Overcollateralization Release Amount.
See PSA § 1.01 (Definition of Overcollateralization Release Amount).
If there is any Overcollateralization Release Amount in a particular payment period, funds equal to the Overcollateralization Release Amount are distributed as certain excess proceeds under the waterfalls.