Class C Overcollateralization Test definition

Class C Overcollateralization Test means the Overcollateralization Test as applied to the Class C Notes.
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Class C Overcollateralization Test means, for so long as any Class A Notes, Class B Notes or Class C Notes remain Outstanding, a test satisfied on any Measurement Date occurring on or after the Ramp-Up Completion Date if the Class C Overcollateralization Ratio on such Measurement Date is equal to or greater than [**].
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Class C Overcollateralization Test means the test which will apply as of any Measurement Date and which will be satisfied on such Measurement Date if the Class C Overcollateralization Ratio is at least equal to 106.6 per cent.
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More Definitions of Class C Overcollateralization Test

Class C Overcollateralization Test means, for so long as any Class A Notes, Class B Notes or Class C Notes remain outstanding, a test satisfied on any Measurement Date occurring on or after the Ramp-Up Completion Date if the Class C Overcollateralization Ratio on such Measurement Date is equal to or greater than 105.50%.
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Class C Overcollateralization Test. A test that will be satisfied on any Measurement Date if the Class C Overcollateralization Ratio is at least equal to the specified Required Level indicated in the table in the definition of "Overcollateralization Test."
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Class C Overcollateralization Test. On any date of determination on which any Class C Notes remain Outstanding, a test that is satisfied if the Class C Overcollateralization Ratio on such date of determination equals or exceeds 129.90%.
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Class C Overcollateralization Test means a test that, for so long as any of the Class A Notes, Class B Notes or Class C Notes remain Outstanding, will be satisfied on any Measurement Date occurring on or after the Closing Date if the Class C Overcollateralization Ratio on such Measurement Date is equal to or greater than 100.78%.
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Related to Class C Overcollateralization Test

  • 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.

  • 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.

  • REMIC II Overcollateralization Amount With respect to any date of determination, (i) 0.50% of the aggregate Uncertificated Balances of the REMIC II Regular Interests (other than REMIC II Regular Interest P) minus (ii) the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10 and REMIC II Regular Interest M-11, in each case as of such date of determination.

  • Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Mortgage Loans before giving effect to distributions of principal to be made on such Distribution Date over (b) the aggregate Certificate Principal Balance of the Class A Certificates and Class M Certificates immediately prior to such date.

  • Overcollateralization Target Amount means 0.85% of the Adjusted Pool Balance as of the Cutoff Date.