Targeted Overcollateralization Amount definition
Targeted Overcollateralization Amount means, for a Payment Date, an amount equal to:
Targeted Overcollateralization Amount means the greater of (i) 25.00% of the Pool Balance as of the last day of the related Collection Period and (ii) 1.50% of the Pool Balance as of the Cut-Off Date.
Targeted Overcollateralization Amount means, for any Payment Date, the greater of (a) 55.50% of the Pool Balance as of the last day of the related Collection Period and (b) 5.50% of the Pool Balance as of the Cut-Off Date ; provided, however, that with respect to any Payment Date after the occurrence of a Level I Net Loss Trigger, “Targeted Overcollateralization Amount” means the greater of (i) 65.00% of the Pool Balance as of the last day of the related Collection Period and (ii) 5.50% of the Pool Balance as of the Cut-Off Date.
Examples of Targeted Overcollateralization Amount in a sentence
The “Target Amount” will be calculated on each Distribution Date, after giving effect to withdrawals from the Interest Rate Cap Account on such Distribution Date and distribution and allocation of losses on the LIBOR Certificates on such Distribution Date, and will equal the excess, if any, of the Targeted Overcollateralization Amount over the Overcollateralization Amount, in each case for such Distribution Date.
As to any Payment Date, the excess, if any, of (x) the Targeted Overcollateralization Amount for such Payment Date over (y) the Interim Overcollateralization Amount for such Payment Date.
With respect to any Distribution Date on which a Trigger Event is in effect, the Targeted Overcollateralization Amount will be equal to the Targeted Overcollateralization Amount for the immediately preceding Distribution Date (after taking into account any distributions of the Aggregate Class B Early Distribution Amount on the immediately preceding Distribution Date).
With respect to any Distribution Date on which a Trigger Event is in effect, the Targeted Overcollateralization Amount will be equal to the Targeted Overcollateralization Amount for the immediately preceding Distribution Date Tax Matters Person ------------------ The person designated as "tax matters person" in the manner provided under Treasury regulation ss.1.860F-4(d) and temporary Treasury regulation ss.301.6231(a)(7)-1T.
As to any Distribution Date, the excess, if any, of (x) the Targeted Overcollateralization Amount over (y) the Interim Overcollateralization Amount.
More Definitions of Targeted Overcollateralization Amount
Targeted Overcollateralization Amount. As of any Distribution Date, (x) prior to the Stepdown Date, 0.50% of the Cut-off Date Aggregate Principal Balance and (y) on and after the Stepdown Date, (i) if a Trigger Event has not occurred, the greater of (A) 1.00% of the Pool Balance as of the last day of the related Collection Period and (B) 0.50% of the Cut-off Date Aggregate Principal Balance and (ii) if a Trigger Event has occurred, the Targeted Overcollateralization Amount for the immediately preceding Distribution Date.
Targeted Overcollateralization Amount means $213,806,990.89, which is 13.70% of the Initial Pool Balance.
Targeted Overcollateralization Amount means, for any Payment Date, the greater of (a) 15.00% of the Pool Balance as of the last day of the related Collection Period and (b) 1.50% of the Pool Balance as of the Cut-Off Date; provided, however, that with respect to any Payment Date after the occurrence of a Cumulative Net Loss Trigger (and regardless of whether the Cumulative Net Loss Ratio for any subsequent Measurement Date does not exceed the level specified as the “Trigger” in the Cumulative Net Loss Rate Table for that subsequent Measurement Date), “Targeted Overcollateralization Amount” means the greater of (i) 25.00% of the Pool Balance as of the last day of the related Collection Period and (ii) 1.50% of the Pool Balance as of the Cut-Off Date.
Targeted Overcollateralization Amount. For any Distribution Date prior to the Stepdown Date, 0.50% of the Aggregate Loan Group Balance of Loan Group VI as of the Cut-off Date; with respect to any Distribution Date on or after the Stepdown Date and with respect to which a Trigger Event is not in effect, the greater of (a) 1.00% of the Aggregate Loan Group Balance of Loan Group VI for such Distribution Date, or (b) 0.50% of the Aggregate Loan Group Balance of Loan Group VI as of the Cut-off Date; with respect to any Distribution Date on or after the Stepdown Date with respect to which a Trigger Event has occurred and is continuing, the Targeted Overcollateralization Amount for the Distribution Date immediately preceding such Distribution Date.
Targeted Overcollateralization Amount. With respect to any Distribution Date, $10,751,418.16.
Targeted Overcollateralization Amount. For any Distribution Date prior to the Stepdown Date, 1.50% of the Aggregate Collateral Balance as of the Initial Cut-off Date (including amounts in the Prefunding Account as of the Closing Date); with respect to any Distribution Date on or after the Stepdown Date and with respect to which a Trigger Event has not occurred, the greater of (a) 3.00% of the Aggregate Collateral Balance for such Distribution Date, or (b) 0.50% of the Aggregate Collateral Balance as of the Initial Cut-off Date (including amounts in the Prefunding Account as of the Closing Date); with respect to any Distribution Date on or after the Stepdown Date with respect to which a Trigger Event has occurred and is continuing, the Targeted Overcollateralization Amount for the Distribution Date immediately preceding such Distribution Date.
Targeted Overcollateralization Amount. For any Distribution Date prior to the Stepdown Date, 3.75% of the Aggregate Collateral Balance as of the Cut-off Date; with respect to any Distribution Date on or after the Stepdown Date and with respect to which a Trigger Event is not in effect, the greater of (a) 7.50% of the Aggregate Collateral Balance for such Distribution Date, or (b) 0.50% of the Aggregate Collateral Balance as of the Cut-off Date; with respect to any Distribution Date on or after the Stepdown Date with respect to which a Trigger Event is in effect and is continuing, the Targeted Overcollateralization Amount for the Distribution Date immediately preceding such Distribution Date. Upon (x) written direction by the Majority in Interest Holder of the Class X-1 Certificates and (y) the issuance by an affiliate of the Depositor of a credit enhancement contract in favor of REMIC 1 which is satisfactory to the Rating Agencies and (z) receipt by the Trustee of an Opinion of Counsel, which opinion shall not be an expense of the Trustee or the Trust Fund, but shall be at the expense of the Majority in Interest Holder of the Class X-1 Certificates, to the effect that such credit enhancement contract will not cause the imposition of any federal tax on the Trust Fund or the Certificateholders or cause REMIC 1, REMIC 2 or REMIC 3 to fail to qualify as a REMIC at any time that any Certificates are outstanding, the Targeted Overcollateralization Amount shall be reduced to the level approved by the Rating Agencies as a result of such credit enhancement contract. Any credit enhancement contract referred to in the previous sentence shall be collateralized by cash or mortgage loans, provided that (i) the aggregate Stated Principal Balance of the mortgage loans collateralizing any such credit enhancement contract shall not be less than the excess, if any, of (x) the initial Targeted Overcollateralization Amount over (y) the then-current Overcollateralization Amount, (ii) the issuance of any credit enhancement contract supported by mortgage loans shall not result in a downgrading of the ratings assigned by the Rating Agencies, or a downgrading in the shadow rating assigned to the Insured Certificates by the Rating Agencies and (iii) FSA shall provide its written consent, which consent shall not be unreasonably withheld, to such credit enhancement contract and the counterparty thereto.