Subsequent Overcollateralization Amount definition

Subsequent Overcollateralization Amount. As of any Distribution Date, after the application of principal payments and Applied Realized Loss Amounts, an amount equal to the excess, if any of (a) the Pool Balance over (b) the sum of (i) the Certificate Principal Balance of each Class of Offered Certificates and (ii) the Remaining Initial Overcollateralization Amount.
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Examples of Subsequent 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.

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

  • Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the applicable P&I Regular Interests.

  • Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the P&I Regular Interests.

  • Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the applicable other REMIC 4 Regular Interests.

  • Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the Class T4 P&I Certificates (in reverse order of seniority).

  • Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 5 Components, pro rata based on interest accrued, before being allocated to the Class T5 P&I Certificates.

  • Any shortfalls or losses of interest, including (i) any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount and (ii) any excess of the Maximum Rate over the REMIC 2 Pass-Through Rate, will be borne first by the REMIC 5 Components, pro rata based on interest accrued, before being allocated to the Offered Certificates (other than the Class A-1 Certificates) and the Class T5-A1 Interest.

  • Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the applicable P&I Regular Interests and the Class AIO and Class AIO-INV Certificates.

  • The portion of the Principal Remittance Amount equal to the excess, if any, of the Overcollateralization Release Amount over the Subsequent Overcollateralization Amount shall be allocated to reduce the principal balance of the Class T1-2 Interest, until it is reduced to zero.

Related to Subsequent 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.

  • 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 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.

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