Specified Overcollateralized Amount. Prior to the Stepdown Date, an amount equal to 1.10% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date. On or after the Stepdown Date but prior to the Distribution Date in September 2012, provided a Trigger Event is not in effect, an amount equal to the greater of (x) 2.75% of the aggregate Stated Principal Balance of the Mortgage Loans for that Distribution Date and (y) the Overcollateralization Floor. On or after the Stepdown Date and on and after the Distribution Date in September 2012, provided a Trigger Event is not in effect, an amount equal to the greater of (x) 2.20% of the aggregate Stated Principal Balance of the Mortgage Loans for that Distribution Date and (y) the Overcollateralization Floor. On or after the Stepdown Date if a Trigger Event is in effect, the Specified Overcollateralized Amount will remain the same as the prior period’s Specified Overcollateralized Amount until the Distribution Date on which a Trigger Event is no longer occurring. When the Class Principal Balance of each Class of Offered Certificates has been reduced to zero, the Specified Overcollateralized Amount shall thereafter equal zero. Standard & Poor’s or S&P: Standard & Poor’s Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc. If Standard & Poor’s is designated as a Rating Agency in the Preliminary Statement, for purposes of Section 12.05(b) of the Trust Agreement the address for notices to Standard & Poor’s shall be Standard & Poor’s, 00 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attention: Residential Mortgage Surveillance Group - GSR Mortgage Loan Trust 2006-OA1, or such other address as Standard & Poor’s may hereafter furnish to the Depositor and the Servicer.
Specified Overcollateralized Amount. Prior to the Stepdown Date, an amount equal to 1.00% of the Cut-off Date Pool Principal Balance. On and after the Stepdown Date, an amount equal to 2.00% of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date, subject, until the Class Certificate Balance of each Class of LIBOR Certificates has been reduced to zero, to a minimum amount equal to the Overcollateralization Floor; provided, however, that if, on any Distribution Date, a Trigger Event has occurred, the Specified Overcollateralized Amount shall not be reduced to the applicable percentage of the then current aggregate Stated Principal Balance of the Mortgage Loans until the Distribution Date on which a Trigger Event is no longer occurring.
Specified Overcollateralized Amount. Prior to the Stepdown Date, an amount equal to 1.70% of the Cut-off Date Pool Principal Balance. On and after the Stepdown Date, an amount equal to 3.40% of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date, subject, until the Class Certificate Balance of each Class of LIBOR Certificates has been reduced to zero, to a minimum amount equal to the Overcollateralization Floor; provided, however, that if, on any Distribution Date, a Trigger Event has occurred, the Specified Overcollateralized Amount shall not be reduced to the applicable percentage of the then current aggregate Stated Principal Balance of the Mortgage Loans until the Distribution Date on which a Trigger Event is no longer occurring; provided, further, that when the Class Certificate Balance of each Class of LIBOR Certificates has been reduced to zero, the Specified Overcollateralized Amount will thereafter equal zero.
More Definitions of Specified Overcollateralized Amount
Specified Overcollateralized Amount. Prior to the Stepdown Date, an amount equal to 1.40% of the Cut-off Date Pool Principal Balance. On and after the Stepdown Date, an amount equal to 2.80% of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date, subject, until the Class Certificate Balance of each Class of LIBOR Certificates has been reduced to zero, to a minimum amount equal to the Overcollateralization Floor; provided, however, that if, on any Distribution Date, a Trigger Event exists, the Specified Overcollateralized Amount shall not be reduced to the applicable percentage of the then current aggregate Stated Principal Balance of the Mortgage Loans but will instead remain the same as the prior period's Specified Overcollateralized Amount until the Distribution Date on which a Trigger Event is no longer in effect. When the Class Certificate Balance of each Class of LIBOR Certificates has been reduced to zero, the Specified Overcollateralized Amount will thereafter equal zero. Sponsor: Goldman Sachs Mortgage Company, a New York limited partnership, and its xxxxxxsxxx xn interest, as purchaser of the Mortgage Loans under the Purchase Agreements.
Specified Overcollateralized Amount. An amount equal to 0.50% of the Cut-off Date Pool Principal Balance. Standard & Poor's or S&P: Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies, Inc. If Standard & Poor's is designated as a Ratxxx Xxxxxx in the Preliminary Statement, for purposes of Section 12.05(b) the address for notices to Standard & Poor's shall be Standard & Poor's, 55 Water Street, New York, New York 10041, Attention: Residential Mortgxxx Xxxxxxxxxxxx Xxxxx - XXXX Xxxx Xxxxxx Trust 2004-7, or such other address as Standard & Poor's may hereafter furnish to the Depositor and the Servicer.
Specified Overcollateralized Amount. Prior to the Stepdown Date, an amount equal to 0.65% of the Cut-Off Date Pool Balance of the Mortgage Loans; on and after the Stepdown Date, an amount equal to 1.30% of the aggregate Scheduled Principal Balance of the Mortgage Loans for that Distribution Date, subject, until the Certificate Principal Balance of each Class of Offered Certificates has been reduced to zero, to a minimum amount equal to 0.65% of the Cut-Off Date Principal Balance of the Mortgage Loans; provided, however, that if, on any Distribution Date, a Trigger Event has occurred, the Specified Overcollateralized Amount will not be reduced to the applicable percentage of the then Scheduled Principal Balance of the Mortgage Loans for that Distribution Date but instead will remain the same as the prior period's Specified Overcollateralized Amount until the Distribution Date on which a Trigger Event is no longer occurring.
Specified Overcollateralized Amount. Prior to the Stepdown Date, an amount equal to 1.80% of the Cut-off Date Pool Principal Balance. On and after the Stepdown Date, an amount equal to 3.60% of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date, subject, until the Class Certificate Balance of each Class of LIBOR Certificates has been reduced to zero, to a minimum amount equal to the Overcollateralization Floor; provided, however, that if, on any Distribution Date, a Trigger Event exists, the Specified Overcollateralized Amount shall not be reduced to the applicable percentage of the then current aggregate Stated Principal Balance of the Mortgage Loans until the Distribution Date on which a Trigger Event no longer exists; provided, further, that when the Class Certificate Balance of each Class of LIBOR Certificates has been reduced to zero, the Specified Overcollateralized Amount will thereafter equal zero. Sponsor: Goldman Sachs Mortgage Company, a New York limited partnership, and its xxxxxxsxxx xn interest, as purchaser of the Mortgage Loans under the Purchase Agreement.
Specified Overcollateralized Amount. Prior to the Distribution Date in January 2005, an amount equal to zero, or on or after the Distribution Date in January 2005, but prior to the Stepdown Date, an amount equal to 1.60% of the Cut-Off Date Pool Balance of the Mortgage Loans; on and after the Stepdown Date, an amount equal to 3.20% of the aggregate Scheduled Principal Balance of the Mortgage Loans for that Distribution Date, subject, until the Certificate Principal Balance of each Class of Offered Certificates has been reduced to zero, to a minimum amount equal to 0.50% of the Cut-Off Date Principal Balance of the Mortgage Loans; provided, however, that if, on any Distribution Date, a Trigger Event has occurred, the Specified Overcollateralized Amount will not be reduced to the applicable percentage of the then Scheduled Principal Balance of the Mortgage Loans for that Distribution Date but instead will remain the same as the prior period's Specified Overcollateralized Amount until the Distribution Date on which a Trigger Event is no longer occurring.
Specified Overcollateralized Amount. An amount equal to 4.95% of the Cut-off Date Pool Principal Balance. Standard & Poor’s: Standard & Poor’s Ratings Services, a division of The XxXxxx-Xxxx Companies, Inc. If Standard & Poor’s is designated as a Rating Agency in the Preliminary Statement, for purposes of Section 12.05(b) the address for notices to Standard & Poor’s shall be Standard & Poor’s, 00 Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attention: Residential Mortgage Surveillance Group – GSAMP Trust 2004-SD1, or such other address as Standard & Poor’s may hereafter furnish to the Depositor, the Servicer, the Master Servicer, the Securities Administrator and the Trustee.
Specified Overcollateralized Amount. Prior to the Stepdown Date, an amount equal to 0.85% of the Cut-Off Date Pool Balance of the Group 6 Mortgage Loans; on and after the Stepdown Date, an amount equal to 1.70% of the aggregate Scheduled Principal Balance of the Group 6 Mortgage Loans for that Distribution Date, subject, until the Certificate Principal Balance of each Class of Group 6 Certificates has been reduced to zero, to a minimum amount equal to 0.85% of the Cut-Off Date Principal Balance of the Group 6 Mortgage Loans; provided, however, that if, on any Distribution Date, a Trigger Event has occurred, the Specified Overcollateralized Amount will not be reduced to the applicable percentage of the then Scheduled Principal Balance of the Group 6 Mortgage Loans for that Distribution Date but instead will remain the same as the prior period's Specified Overcollateralized Amount until the Distribution Date on which a Trigger Event is no longer occurring.