Overcollateralization Deficit Amount definition

Overcollateralization Deficit Amount. On any Payment Date, the excess, if any, of (i) the Note Principal Amount on such Payment Date (after taking into account the payment to the Notes of all principal from sources other than the Note Guaranty Insurance Policy on such Payment Date) and (ii) the Pool Balance as of the close of business on the last day of the related Collection Period.
View Source
Overcollateralization Deficit Amount means with respect to any Payment Date, the excess, if any, of (i) the Class A-1 Note Principal Amount on such Payment Date (after taking into account the payment to the Class A-1 Notes of all principal from sources other than the Policy on such Payment Date) over (ii) the aggregate Principal Balance of the group 1 mortgage loans as of the close of business on the last day of the related Collection Period.
View Source
Overcollateralization Deficit Amount means, with respect to the Group I Notes and any Payment Date, the excess, if any, of the aggregate Note Balance of the Group I Notes on such Payment Date (after taking into account the payment to the holders of the Group I Notes of all principal from sources other than the Policy on such Payment Date) over the aggregate Principal Balance of the Group I Mortgage Loans as of the close of business on the last day of the related Collection Period.
View Source

Examples of Overcollateralization Deficit Amount in a sentence

  • In the case of an obligation to pay money, the required time will be within seven (7) days following service of a written demand to pay any sum due, and in the case of materials produced in violation of Section 7, the required time for remedying such breach will be within twenty-four (24) hours of being given written notice of breach.


More Definitions of Overcollateralization Deficit Amount

Overcollateralization Deficit Amount. With respect to each of the Class A-I Certificates and the Class A-II Certificates, and any Distribution Date, the excess, if any, of (a) the Class A-I Principal Balance or the Class A-II Principal Balance, as applicable, over (b) the Stated Principal Balance of the Group I Loans or the Group II Loans, as applicable, in each case as of the close of business on the last day of the prior Due Period, plus any amount on deposit in the related sub-account of the Pre-Funding Account (exclusive of Pre-Funding Earnings and Capitalized Interest) and available for purchase of Subsequent Mortgage Loans.
View Source

Related to Overcollateralization Deficit Amount

  • 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).

  • Overcollateralization Deficiency For any Distribution Date will be equal to the amount, if any, by which (x) the Targeted Overcollateralization Amount for such Distribution Date exceeds (y) the Overcollateralization Amount for such Distribution Date, calculated for this purpose after giving effect to the reduction on such Distribution Date of the aggregate Class Principal Balance of the Certificates resulting from the payment of the Principal Payment Amount on such Distribution Date, but prior to allocation of any Applied Loss Amount on such Distribution Date.

  • 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 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.

  • 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.