Group II Targeted Overcollateralization Amount definition

Group II Targeted Overcollateralization Amount. On any Payment Date (x) prior to the Group II Stepdown Date, 2.50% of the aggregate Certificate Principal Balance of the Group II Certificates as of the Startup Day and (y) on or after the Group II Stepdown Date, the greater of (A) 5.00% of the aggregate outstanding Loan Balance of the Mortgage Loans in Group II as of the last day of the related Remittance Period and (B) $3,590,335.
View Source
Group II Targeted Overcollateralization Amount. On any Payment Date (x) prior to the Group II Stepdown Date, $3,100,000 and (y) on or after the Group II Stepdown Date, the greater of (x) 2.5% of the aggregate outstanding Loan Balance of the Home Equity Loans in Group II as of the last day of the related Remittance Period and (y) $1,550,000.
View Source
Group II Targeted Overcollateralization Amount. As defined in the Insurance Agreement.
View Source

More Definitions of Group II Targeted Overcollateralization Amount

Group II Targeted Overcollateralization Amount. As of any Payment Date means:
View Source
Group II Targeted Overcollateralization Amount. On any Payment Date (x) prior to the Group II Stepdown Date, $3,200,000 and (y) on or after the Group II Stepdown Date, (A) if a Group II Trigger Event is not in effect the greater of (x) 2.5% of the aggregate outstanding Loan Balance of the Home Equity Loans in Group II as of the last day of the related Remittance Period and (y) $1,600,000 or (B) if a (B) if a Group II Trigger Event is in effect, the Group II Targeted Overcollateralization Amount for the immediately preceding Payment Dates; provided, that, upon the occurrence and during the continuance of a Cumulative Realized Loss Trigger Event, the Group II Targeted Overcollateralization Amount shall be $8,480,000.
View Source
Group II Targeted Overcollateralization Amount. As of any Payment Date with respect to the Group II Notes, (x) prior to the Group II Stepdown Date, 12.50% of the initial Principal Balance of the Group II Mortgage Loans and (y) on and after the Group II Stepdown Date, the lesser of (i) 12.50% of the initial Principal Balance of the Group II Mortgage Loans and (ii) the greater of (A) 25.00% of the Principal Balance of the Group II Mortgage Loans as of the last day of the related Collection Period and (B) the greater of (i) 0.50% of the initial Principal Balance of the Group II Mortgage Loans or (ii) the aggregate Principal Balance of the three Group II Mortgage Loans with the highest Principal Balance as of the Cut-off Date .
View Source
Group II Targeted Overcollateralization Amount shall be applied as a payment of principal with respect to the Subordinate Certificates in reverse order of seniority (i.e., first to the Class B-1 Certificates, second to the Class M-2 Certificates, third to the Class M-1 Certificates and fourth, to the Class A-8 Certificates and the Class A-7 Certificates (but only with respect to Component II) until their respective Certificate Principal Balances have been reduced to zero.
View Source
Group II Targeted Overcollateralization Amount. As of any Payment Date, (w) on or prior to the sixth Payment Date, zero, (x) after the sixth Payment Date, but prior to the Stepdown Date, 1.3% of the Original Group II Loan Balance, (y) on and after the Stepdown Date (A) if neither a Delinquency Trigger Event nor a Cumulative Realized Loss Trigger Event is in effect, the greater of (I) 2.795% of the Group II Loan Balance and (II) the Group II Overcollateralization Floor or (B) if a Delinquency Trigger Event is in effect but a Cumulative Realized Loss Trigger Event is not in effect, the Group II Targeted Overcollateralization Amount for such Payment Date shall be equal to the Group II Targeted Overcollateralization Amount for the immediately preceding Payment Date and (z) if at any time a Cumulative Realized Loss Trigger Event is in effect (whether or not a Delinquency Trigger Event is in effect), the product of (I) a fraction, the numerator of which is $36,380,000 and the denominator of which is the Total Loan Balance and (II) the Group II Loan Balance.
View Source
Group II Targeted Overcollateralization Amount. As of any Payment Date, (x) prior to the Stepdown Date with respect to Group II and (i) if none of the Stepup Trigger Events (as defined below) has occurred and is in effect, 3.00% of the Group II Original Pool Balance and (ii) if any of the Stepup Trigger Events has occurred and is in effect, 4.00% of the Group II Original Pool Balance, and (y) on and after the Stepdown Date with respect to Group II and (i) if none of the Stepup Trigger Events has occurred and is in effect, the greater of (1) 6.00% of the aggregate outstanding Loan Balance of the Group II Mortgage Loans as of the end of the related Remittance Period and (2) $2,000,000 and (ii) if any of the Stepup Trigger Events has occurred and is in effect, the greater of (1) 8.00% of the aggregate outstanding Loan Balance of the Group II Mortgage Loans as of the end of the related Remittance Period and (2) $2,000,000; provided,
View Source

Related to Group II Targeted Overcollateralization Amount

  • Targeted Overcollateralization Amount means, for a Payment Date, an amount equal to:

  • 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.

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • 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.