Target Overcollateralization Amount Clause Samples
Target Overcollateralization Amount. For any Distribution Date, an amount equal to the excess of (x) the greatest of (a) 4.00% of the Aggregate Starting Receivables Balance, (b) 5.50% of the Aggregate Receivables Balance as of the close of business on the last day of the related Monthly Period and (c) during the continuance of an Enhancement Event, the greater of (i) 5.00% of the Aggregate Starting Receivables Balance and (ii) 7.50% of the Aggregate Receivables Balance as of the close of business on the last day of the related Monthly Period over (y) the amount on deposit in the Reserve Account as of the close of business on such Distribution Date.
Target Overcollateralization Amount. For any Distribution Date prior to the Stepdown Date, [ - ]% of the sum of (a) the aggregate Scheduled Principal Balance of the Closing Date Mortgage Loans as of the Cut-off Date and (b) the Pre - Funded Amount as of the Closing Date. For any Distribution Date on or after the Stepdown Date, the lesser of (a) [ - ]% of the sum of (i) the aggregate Scheduled Principal Balance of the Closing Date Mortgage Loans as of the Cut-off Date and (ii) the Pre-Funded Amount as of the Closing Date, and (b) [ - ]% of the sum of (i) the aggregate Scheduled Principal Balance of the Mortgage Loans and (ii) the Pre - Funded Amount, each as of the last day of the related Due Period, subject to a floor equal to [ - ]% of the sum of (i) the aggregate Scheduled Principal Balance of the Closing Date Mortgage Loans as of the Cut-off Date and (ii) the Pre-Funded Amount as of the Closing Date; provided, however, if a Trigger Event has occurred and is continuing on a Distribution Date, the Target Overcollateralization Amount will be the same as the Target Overcollateralization Amount on the preceding Distribution Date. 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.
Target Overcollateralization Amount. 5.00% of the aggregate principal balance of the mortgage loans as of the cut-off date, which will be attained via the application of Remaining Excess Spread. 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.
Target Overcollateralization Amount. Class C Certificate -------------------
Target Overcollateralization Amount. For any Distribution Date, an amount equal to the greater of: (a) $31,000,000.00, and (b) 10.125% of the sum of (1) the Aggregate Receivables Balance as of the close of business on the last day of the related Monthly Period and (2) the aggregate Starting Receivables Balance of all Receivables added to the Trust since the last day of the prior Monthly Period.