Required Overcollateralized Amount. With respect to any Distribution Date, (i) prior to the Stepdown Date, $3,714,089.97, (ii) on or after the Stepdown Date provided a Trigger Event is not in effect, the greater of (x) 3.00% of the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period and (y) $1,237,745.95, and (iii) on or after the Stepdown Date if a Trigger Event is in effect, the Required Overcollateralized Amount for the immediately preceding Distribution Date.
Required Overcollateralized Amount. With respect to any Distribution Date, an amount equal to $_____________ subject to the following: (i) if the Step Up Trigger has occurred, the Required Overcollateralized Amount for such Distribution Date will be an amount equal to the entire aggregate Stated Principal Balance of the Mortgage Loans and REO Properties as of such Distribution Date; (ii) if the Step Up Trigger has not occurred but the Step Up Spread Squeeze Test is met, the Required Overcollateralized Amount for such Distribution Date will be an amount equal to the sum of (A) the Required Overcollateralized Amount for such Distribution Date determined as though the Step Up Spread Squeeze Test were not met plus (B) the Spread Squeeze Overcollateralization Increase Amount; or (iii) if neither the Step Up Trigger has occurred nor the Step Up Spread Squeeze Test is met but the Step Down Trigger has occurred, the Required Overcollateralized Amount for such Distribution Date will be an amount equal to the greater of (A) ____% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date and (B) the lesser of (x) $_____________ and (y) the Stepped Down Required Overcollateralized Percentage of the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties as of such Distribution Date.
Required Overcollateralized Amount. With respect to any Distribution Date (i) prior to the Stepdown Date, $__________, (ii) on or after the Stepdown Date provided a Trigger Event is not in effect, the greater of (x) ____% of the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period and (y) $_________, and (iii) on or after the Stepdown Date and a Trigger Event is in effect, the Required Overcollateralized Amount for the immediately preceding Distribution Date.
Examples of Required Overcollateralized Amount in a sentence
Amounts payable as Uncertificated Interest in respect of REMIC I Regular Interest I-LTZZ shall be reduced when the sum of the REMIC I Overcollateralization Amount is less than the REMIC I Required Overcollateralized Amount, by the lesser of (x) the amount of such difference and (y) the Maximum Uncertificated Interest Deferral Amount.
Amounts payable as Uncertificated Interest in respect of REMIC I-A Regular Interest IA-LTZZ shall be reduced when the sum of the REMIC I-A Overcollateralization Amount is less than the REMIC I-A Required Overcollateralized Amount, by the lesser of (x) the amount of such difference and (y) the Maximum Uncertificated Interest Deferral Amount.
Amounts payable as Uncertificated Interest in respect of REMIC I Regular Interest I-LTZZ shall be reduced when the sum of the REMIC I Group I Overcollateralization Amount is less than the REMIC I Group I Required Overcollateralized Amount, by the lesser of (x) the amount of such difference and (y) the Maximum Uncertificated Interest Deferral Amount.
More Definitions of Required Overcollateralized Amount
Required Overcollateralized Amount. With respect to any Payment Date (i) prior to the Stepdown Date, $6,664,964.19, (ii) on or after the Stepdown Date provided a Trigger Event is not in effect, the greater of (x) 3.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period and (y) $2,856,405, and (iii) on or after the Stepdown Date and a Trigger Event is in effect, the Required Overcollateralized Amount for the immediately preceding Payment Date.
Required Overcollateralized Amount. With respect to any Distribution Date (x) prior to the Stepdown Date, $4,534,509.34 and (y) on or after the Stepdown Date, the greater of (x) 5.00% of the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period and (y) $1,360,289.
Required Overcollateralized Amount. With respect to the first Distribution Date, $0.00 and any other Distribution Date (i) prior to the Stepdown Date, $15,004,019 (ii) on or after the Stepdown Date provided a Trigger Event is not in effect, the greater of (x) 3.50% of the Aggregate Collateral Balance as of the last day of the related Due Period and (y) $4,286,862 and (iii) on or after the Stepdown Date if a Trigger Event is in effect, the Required Overcollateralized Amount for the immediately preceding Distribution Date.
Required Overcollateralized Amount. With respect to any Distribution Date (i) prior to the Stepdown Date, $2,249,900.00, (ii) on or after the Stepdown Date provided a Trigger Event is not in effect, the greater of (x) 1.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) $1,500,000.00, and (iii) on or after the Stepdown Date and a Trigger Event is in effect, the Required Overcollateralized Amount for the immediately preceding Distribution Date.
Required Overcollateralized Amount. With respect to any Distribution Date (i) prior to the Stepdown Date, $10,040,847, (ii) on or after the Stepdown Date and provided that neither a Trigger Event nor an Overcollateralization Reduction Lockout Event is in effect, the greater of (x) 5.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period and (y) $2,738,357, and (iii) on or after the Stepdown Date and either a Trigger Event or an Overcollateralization Reduction Lockout Event is in effect, the Required Overcollateralized Amount for the immediately preceding Distribution Date.
Required Overcollateralized Amount. With respect to any Distribution Date, $2,419,791.
Required Overcollateralized Amount. With respect to each Loan Group and any Distribution Date (i) prior to the Stepdown Date for the related Certificate Group, $9,375,000 for Loan Group 1 and (a) on the first Distribution Date $8,438,000 and (b) after the first Distribution Date but before the Stepdown Date $22,500,000 for Loan Group 2 (ii) on or after the Stepdown Date for the related Certificate Group provided a Trigger Event is not in effect, the greater of (x) 5.00% for Loan Group 1 and 4.00% for Loan Group 2 of the aggregate Stated Principal Balance of the Home Equity Loans in the related Loan Group as of the last day of the related Due Period and (y) $1,875,000 for Loan Group 1 and $5,625,000 for Loan Group 2 and (iii) on or after the Stepdown Date for the related Certificate Group and if a Trigger Event is in effect with respect to such Certificate Group, the Required Overcollateralized Amount for such Loan Group for the immediately preceding Distribution Date.