Target Overcollateralization Amount definition

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.

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Target Overcollateralization Amount means, with respect to any Distribution Date, the greater of (i) [***]% of the Pool Balance as of the last day of the related Collection Period and (ii) [***]% of the Pool Balance as of the Cutoff Date.

Target Overcollateralization Amount means, with respect to each Payment Date, the product of (i) 2.50% and (ii) the Adjusted Pool Balance as of the Closing Date.

Examples of Target Overcollateralization Amount in a sentence

From time to time after the date hereof, the Servicer may notify each Rating Agency that it wishes to apply a formula for determining the Target Overcollateralization Amount or the Reserve Account Required Amount that is different from the formula described in the related definition, or change the manner by which the Reserve Account is funded.
The provisions of this Section 11.1(b) shall in no event be construed to require the consent of the Noteholders or the Certificateholders to a reduction in the Target Overcollateralization Amount or the required level of the Reserve Account.
The provisions of this Section shall in no event be construed to require the consent of the Noteholders or the Certificateholders to a reduction in the Target Overcollateralization Amount or the required level of the Class A Reserve Account.
The Target Overcollateralization Amount will be zero when the Certificate Principal Balance of each of the Offered Certificates and the Class M-3 Certificates is reduced to zero.
After the Stepdown Date, the Target Overcollateralization Amount shall be reduced to the greater of (i) 10.00% of the aggregate principal balance of the mortgage loans, as of the last day of the related Due Period or (ii) the Overcollateralization Floor; provided that if a Trigger Event exists, the Target Overcollateralization Amount will not be reduced.

More Definitions of Target Overcollateralization Amount

Target Overcollateralization Amount means, for any Payment Date, 0.25% of the Adjusted Pool Balance as of the Cut-Off Date.

Target Overcollateralization Amount means, with respect to any Payment Date, $9,263,166.41 (which is approximately 2.20% of the Cutoff Date Pool Balance).

Target Overcollateralization Amount means, with respect to any Payment Date, 13.00% of the 2024-B Cutoff Date Aggregate Securitization Value.

Target Overcollateralization Amount means, with respect to a Payment Date, [the greater of (A) the product of [___]% times P and (B) the OC Floor, where: P = (a) the Related Pool Balance for such Payment Date minus (b) the YSOA for such Payment Date OC Floor = the lesser of (a) P and (b) the product of [____]% times Pi Pi = the Original Pool Balance]

Target Overcollateralization Amount means the Target Overcollateralization Percentage multiplied by the Initial Pool Balance.

Target Overcollateralization Amount. As to any Payment Date (a) prior to the Step-down Date, will be equal to approximately $ and (b) on or after the Step-down Date, so long as a Trigger Event is not in effect, approximately % of the Pool Balance as of the last day of the related Due Period, subject to a floor equal to % of the Initial Pool Balance. If a Trigger Event is in effect, then the Target Overcollateralization Amount will be equal to the Target Overcollateralization Amount as of the prior Payment Date.

Target Overcollateralization Amount means, with respect to any Payment Date, [●]% of the 20[__]-[_] Cutoff Date Aggregate Securitization Value.

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