Senior Overcollateralization Ratio definition

Senior Overcollateralization Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing:
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Senior Overcollateralization Ratio as of any Measurement Date, means the ratio (expressed as a percentage) obtained by dividing the Net Collateral Principal Balance as of such Measurement Date, by the aggregate outstanding principal amount of the Class A Notes and the Class B Notes as of such Measurement Date.
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Senior Overcollateralization Ratio means, as of any Measurement Date, the number (expressed as a percentage) calculated by dividing (a) the Principal Collateralization Amount on such Measurement Date by (b) the outstanding principal amount of the Class A Notes.
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Examples of Senior Overcollateralization Ratio in a sentence

  • For purposes of the definition of Senior Overcollateralization Ratio in the Indenture, each reference to “any other Senior Note” in such definition shall be deemed to incorporate the Series 2005-A Medium Term Notes into such definition.

  • The Weighted Average Rating Test will be satisfied as of any Measurement Date if the Weighted Average Rating of the Underlying Assets as of such Measurement Date (after subtracting the sum of the Recovery Rate Modifier and the Senior Overcollateralization Ratio Modifier) is equal to or less than the maximum rating factor applicable under the Minimum Diversity/Maximum Weighted Average Rating/Minimum Weighted Average Spread Matrix.


More Definitions of Senior Overcollateralization Ratio

Senior Overcollateralization Ratio. As of any date of determination, the ratio calculated by dividing:
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Senior Overcollateralization Ratio means, as of any Measurement Date, the number (expressed as a percentage) calculated by dividing (a) the Net Outstanding Portfolio Collateral Balance on such Measurement Date by (b) the Aggregate Outstanding Amount of the Class A-1 Notes plus the Aggregate Outstanding Amount of the Class A-2 Notes.
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Related to Senior Overcollateralization Ratio

  • 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.

  • Targeted Overcollateralization Amount means, for a Payment Date, an amount equal to:

  • Excess Available Funds Percentage means, with respect to any Transfer Date, the amount, if any, by which the Portfolio Yield for the preceding Monthly Period exceeds the Base Rate for such Monthly Period.