Excess Overcollateralization Amount. As to any Distribution Date, the lesser of (i) the Basic Principal Amount for such Distribution Date and (ii) the excess, if any, of (x) the Overcollateralization Amount (assuming 100% of the Basic Principal Amount is distributed on the Offered Certificates) over (y) the Required Overcollateralization Amount.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Renaissance Mort Acc Corp Renaissance Home Eq Ln Tr 2004 1), Pooling and Servicing Agreement (Delta Financial Corp)