Target Overcollateralization Amount means, with respect to any Payment Date, 3.00% of the Adjusted Pool Balance as of the Cut-off Date. Notwithstanding the foregoing, the Target Overcollateralization Amount shall not exceed the Adjusted Pool Balance on such Payment Date.

Target Overcollateralization Amount means, for any Payment Date, 0.25% of the Adjusted Pool Balance as of the Cut-Off Date.

Target Overcollateralization Amount means, for any Distribution Date, the greater of (i) 17.55% of the Pool Balance as of the end of the related Collection Period and (ii) 1.50% of the Pool Balance as of the Cutoff Date.

Examples of Target Overcollateralization Amount in a sentence

From time to time after the date hereof, the Servicer may notify each Rating Agency that it wishes to apply a formula for determining the Target Overcollateralization Amount or the Reserve Account Required Amount that is different from the formula described in the related definition, or change the manner by which the Reserve Account is funded.
The Certificateholders will be entitled to receive additional distributions in respect of principal on each Payment Date to the extent there is any amount available remaining after payment of all interest and principal on the Certificates and the Monthly Servicing Fee to the Servicer for such Payment Date, until the overcollateralization amount equals the Target Overcollateralization Amount.
Overcollateralization: There will be overcollateralization of approximately 0% building to the Target Overcollateralization Amount.
The provisions of this Section 11.1(b) shall in no event be construed to require the consent of the Noteholders or the Certificateholders to a reduction in the Class A Target Overcollateralization Amount or the required level of the Class A Reserve Account.
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More Definitions of Target Overcollateralization Amount

Target Overcollateralization Amount means, with respect to any Payment Date, $5,600,014.36 (which is approximately 1.60% of the Cutoff Date Pool Balance).

Target Overcollateralization Amount means, with respect to any Payment Date, 12.25% of the 2024-A Cutoff Date Aggregate Securitization Value.

Target Overcollateralization Amount means, with respect to a Payment Date, [the greater of (A) the product of [___]% times P and (B) the OC Floor, where: P = (a) the Related Pool Balance for such Payment Date minus (b) the YSOA for such Payment Date OC Floor = the lesser of (a) P and (b) the product of [____]% times Pi Pi = the Original Pool Balance]

Target Overcollateralization Amount means, for any Payment Date, the product of (x) the Pool Balance as of the last day of the related Collection Period times (y) the Target Overcollateralization Level for such Payment Date.

Target Overcollateralization Amount means the Target Overcollateralization Percentage multiplied by the Initial Pool Balance.

Target Overcollateralization Amount means, with respect to any Payment Date, $6,600,000 (which is approximately 1.50% of the Cutoff Date Pool Balance).