Remaining Initial Overcollateralization Amount definition

Remaining Initial Overcollateralization Amount. As of any Distribution Date, an amount equal to (a) the Initial Overcollateralization Amount minus (b) the sum of (i) any Overcollateralization Release Amounts distributed and (ii) Realized Losses allocated to the Class T1-4 Interest.
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Remaining Initial Overcollateralization Amount. As of any Distribution Date, an amount equal to (a) the Initial Overcollateralization Amount minus (b) any Overcollateralization Release Amounts distributed on prior Distribution Dates.
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Examples of Remaining Initial Overcollateralization Amount in a sentence

  • Realized Losses shall be allocated first against the Remaining Initial Overcollateralization Amount and second to the Subsequent Overcollateralization Amount, until the Overcollateralization Amount has been reduced to zero.

  • Amounts in reduction of principal balance of the REMIC 1 Regular Interests shall be allocated to the Class T1-1, Class T1-2 and Class T1-3 Interests in the aggregate in an amount equal to the Principal Remittance Amount less the lesser of Overcollateralization Release Amount and the Remaining Initial Overcollateralization Amount.

  • Amounts in reduction of principal balance of the REMIC 2 Regular Interests shall be allocated to the Class T2-1, Class T2-2 and Class T2-3 Interests in the aggregate in an amount equal to the Principal Remittance Amount less the lesser of Overcollateralization Release Amount and the Remaining Initial Overcollateralization Amount.

  • The portion of the Principal Remittance Amount equal to the lesser of the Overcollateralization Release Amount and the Remaining Initial Overcollateralization Amount shall be allocated to reduce the principal balance of the Class T2-4 Interest, until it is reduced to zero.

  • Amounts of principal and interest distributed in respect of, and Realized Losses allocated to, the Class T3-4 Interest shall cause the Class T3-4 Interest to at all times equal the Remaining Initial Overcollateralization Amount.

  • The portion of the Principal Remittance Amount equal to the lesser of the Overcollateralization Release Amount and the Remaining Initial Overcollateralization Amount shall be allocated to reduce the principal balance of the Class T1-4 Interest, until it is reduced to zero.

  • The Class T3-4 Interest shall be entitled to distributions so that its principal balance is equal to the Remaining Initial Overcollateralization Amount.

  • Amounts in reduction of principal balance of the REMIC A Regular Interests shall be allocated to the Class TA-4 Interest such that (taking into consideration any Realized Losses allocated to the Class TA-4 Interest pursuant to the following sentence) the principal balance of the Class TA-4 Interest is equal to the Remaining Initial Overcollateralization Amount.

  • Amounts in reduction of principal balance of the REMIC A Regular Interests shall be allocated to the Class TA-1 and Class TA-2 Interests in the aggregate in an amount equal to the Principal Remittance Amount less the lesser of Overcollateralization Release Amount and the Remaining Initial Overcollateralization Amount.

Related to Remaining Initial Overcollateralization Amount

  • 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.

  • 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.

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

  • 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.