Target Overcollateralization Level definition
Target Overcollateralization Level means, as of any Payment Date, the amount equal to the greater of (x) 1.4% of the Pool Balance and (y) $27,808,426.61.
Target Overcollateralization Level means, for any Payment Date, 11.00%, provided that if the Cumulative Net Charge-Off Ratio for the Payment Date occurring in August 2008, February 2009 or August 2009 is equal to or less than the Target Cumulative Net Charge-Off Ratio for the August 2008, February 2009 or August 2009 Payment Date, respectively, the “Target Overcollateralization Level” will be 9.00% for the August 2008, February 2009 or August 2009 Payment Date, as applicable, and all Payment Dates thereafter.
Target Overcollateralization Level. As of any Payment Date, the level of overcollateralization that would exist if the Overcollateralization Amount were equal to the greater of (i) the product of (x) the Overcollateralization Percentage and (y) the Aggregate Economic Balance of the Accounts as of the first day of the month preceding the month of such Payment Date and (ii) the Minimum Target Overcollateralization Amount.
More Definitions of Target Overcollateralization Level
Target Overcollateralization Level means, on any payment date, the greater of (a) 2.00% of the outstanding principal balance of the receivables as of the end of the related collection period and (b) 1.00% of the initial principal balance of the receivables.
Target Overcollateralization Level. As of any Payment Date, 10.00% of the sum of (a) Aggregate Principal Balance of the Initial Mortgage Assets as of the Cut-off Date and (b) the amount on deposit in the Pre-Funding Account as of the Closing Date.
Target Overcollateralization Level. As of any Payment Date, the level of overcollateralization that would exist if the Overcollateralization Amount were equal to the greater of (i) the product of (x) the Overcollateralization Percentage and (y) the Aggregate Economic Balance of the Accounts as of the last day of the month preceding the month of such Payment Date and (ii) the Minimum Target Overcollateralization Amount; provided, however, that in no event shall the Target Overcollateralization Level exceed 100% of the Aggregate Current Principal Amount of the Notes after giving effect to the payments made on such Payment Date.
Target Overcollateralization Level. As of any Payment Date, 6.00% of the sum of (a) Aggregate Principal Balance of the Initial Accounts as of the Cut-Off Date, (b) the Aggregate Principal Balance of any Additional Accounts purchased on the Closing Date and (c) the amount on deposit in the Pre-Funding Account as of the Closing Date after the purchase of any Additional Accounts.
Target Overcollateralization Level means, for any Payment Date, [ ]%, provided that if the Cumulative Net Charge-Off Ratio for the Payment Date occurring in [ ], [ ] or [ ] is equal to or less than the Target Cumulative Net Charge-Off Ratio for the [ ], [ ] or [ ] Payment Date, respectively, the “Target Overcollateralization Level” will be [ ]% for the [ ], [ ] or [ ] Payment Date, as applicable, and all Payment Dates thereafter.