Aggregate Overcollateralization Amount definition

Aggregate Overcollateralization Amount. $98,010,481.48 which is the excess of the Aggregate Initial ABS Value over the Aggregate Note Principal Balance as of the Closing Date.
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Aggregate Overcollateralization Amount. $ , which is the excess of the Aggregate Initial ABS Value over the sum of the initial Note Principal Balance of all of the CARAT 20__-SN Notes as of the Series 20__-SN Closing Date.
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Aggregate Overcollateralization Amount means, as of any date of determination, the sum of (i) the product of the Aggregate Overcollateralization Rate times the Net Receivables Balance, plus (ii) the product of the Servicing and Discount Reserve Rate times the amount of all Collections on deposit in the Facility Account pursuant to Section 1.6(d).
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Examples of Aggregate Overcollateralization Amount in a sentence

  • As of each Purchase Date, after giving prospective effect to the Purchase to be made on such date, the Net Receivables Balance is at least equal to the sum of (i) aggregate Capital outstanding, plus (ii) the Aggregate Overcollateralization Amount.


More Definitions of Aggregate Overcollateralization Amount

Aggregate Overcollateralization Amount. As of any Payment Date, the positive difference, if any, between (x) the Total Loan Balance and (y) the Aggregate Certificate Principal Balance (after taking into account all distributions of principal on such Payment Date).
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Related to Aggregate Overcollateralization Amount

  • 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.

  • 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.

  • 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:

  • 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.