Minimum Required Overcollateralization Amount definition

Minimum Required Overcollateralization Amount. An amount equal to the product of (x) 0.50% and (y) the Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.
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Minimum Required Overcollateralization Amount. An amount equal to the product of (x) 0.50% and (y) the Stated Principal Balance of the Mortgage Loans as of the Cut-off Date. MIN: The loan number for any MERS Loan.
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Minimum Required Overcollateralization Amount. An amount equal to (i) on or prior to the Distribution Date in February 2027, 0.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date or (ii) after the Distribution Date in February 2027, the greater of (A) 0.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date and (B) the aggregate Stated Principal Balance of the Mortgage Loans that have a maturity term greater than 30 years plus 0.10% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.
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More Definitions of Minimum Required Overcollateralization Amount

Minimum Required Overcollateralization Amount. An amount equal to the product of (x) 0.50% and (y) the Stated Principal Balance of the Mortgage Loans as of the Cut-off Date. MIN: The loan number for any MERS Loan. MLML: Merrill Lynch Mortgage Lending, Inc., a Delaware corporation, or its su▇▇▇▇▇▇▇s ▇▇ ▇nterest.
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Minimum Required Overcollateralization Amount. An amount equal to the product of (x) 0.50% and (y) the Stated Principal Balance of the Mortgage Loans as of the Cut-off Date. MIN: The loan number for any MERS Loan. MLML: ▇▇▇▇▇▇▇ ▇▇▇▇▇ Mortgage Lending, Inc., a Delaware corporation, or its successors in interest. MOM Loan: Any Mortgage Loan as to which MERS is acting as mortgagee, solely as nominee for the originator of such Mortgage Loan and its successors and assigns. Monthly Statement: The statement delivered to the Certificateholders pursuant to Section 4.05. Moody's: ▇▇▇▇▇'▇ Investors Service, Inc. or any successor in interest. Mortgage: With respect to a Mortgage Loan, the mortgage, deed of trust or other instrument creating a second lien or a second priority ownership interest in an estate in fee simple in real property securing a Mortgage Note.
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Minimum Required Overcollateralization Amount. With respect to any Distribution Date prior to the Distribution Date in December 2026, 0.50% of the aggregate principal balance of the Mortgage Loans as of the Cut-Off Date and, with respect to any Distribution Date on or after the Distribution Date in December 2026, the greater of (1) 0.50% of the aggregate principal balance of the Mortgage Loans as of the Cut-Off Date and (2) the outstanding balance of 40 year Mortgage Loans in the mortgage pool plus 0.10% of the aggregate principal balance of the Mortgage Loans as of the Cut-Off Date.
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Related to Minimum Required Overcollateralization Amount

  • 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.

  • 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.

  • 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.

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