Class E Overcollateralization Test definition

Class E Overcollateralization Test means the Overcollateralization Test as applied to the Class E Notes.
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Class E Overcollateralization Test means a test satisfied on any Measurement Date occurring on or after the Ramp-Up Completion Date and on which any Class E Notes remain outstanding if the Class E Overcollateralization Ratio on such Measurement Date is equal to or greater than 101.02%.
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Class E Overcollateralization Test. The Overcollateralization Ratio Test as applied with respect to the Class E Notes.
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More Definitions of Class E Overcollateralization Test

Class E Overcollateralization Test. A test that will be satisfied on any Measurement Date if the Class E 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 E Overcollateralization Test means, for so long as any Class A Notes, Class B Notes, Class C Notes, Class D Notes or Class E Notes remain outstanding, a test satisfied on any Measurement Date occurring on or after the Closing Date if the Class E Overcollateralization Ratio on such Measurement Date is equal to or greater than 101.9%. It is expected that, on the Effective Date, the Class E Overcollateralization Ratio will be approximately 104.2%.
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Related to Class E 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.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution 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.

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).