OC Floor definition

OC Floor. An amount equal to 0.50% of the Pool Balance as of the Cut-Off Date.

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OC Floor. With respect to any Distribution Date, an amount equal to 0.50% of the sum of the aggregate Cut-off Date Principal Balance of the Initial Mortgage Loans and the Pre-Funded Amount.

OC Floor. For any Distribution Date, 0.50% of the Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.

Examples of OC Floor in a sentence

• As to any Distribution Date on which a Delinquency Event does not exist, the Required Overcollateralization Amount without giving effect to the OC Floor calculation.

• Notwithstanding the foregoing, the Required Overcollateralization Amount I shall never be less than the OC Floor.

• Notwithstanding the foregoing, the Required Overcollateralization Amount II shall never be less than the OC Floor.

• As to any Distribution Date on which a Delinquency Event does not exist, the Required Overcollateralization Amount II without giving effect to the OC Floor calculation.

• For any Distribution Date prior to the Stepdown Date for Group 2 or on which a Trigger Event for Group 2 is in effect, the Group 2 Principal Distribution Amount for such Distribution Date; for all other Distribution Dates, the lesser of (x) the Group 2 Principal Distribution Amount and (y) the Group 2 Class A Principal Balance minus the lesser of (A) the Pool Balance of Pool 2 minus the OC Floor Amount for Group 2 and (B) [**]% of the Pool Balance of Pool 2.

More Definitions of OC Floor

OC Floor. An amount equal to 0.50% of the Cut-off Date Pool Principal Balance of the Mortgage Loans.

OC Floor. An amount equal to 0.50% of the aggregate Certificate Principal Balance of the Offered Certificates as of the Closing Date. (i.e., $875,000).

OC Floor. An amount equal to 0.50% of the aggregate Stated Principal Balance of the Group I Mortgage Loans as of the Cut-off Date.

OC Floor. An amount equal to 0.50% of the sum of the Initial Cut-off Date Pool Principal Balance and the Pre-Funded Amount.

OC Floor means an amount equal to 0.50% of the sum of the Initial Cut-off Date Pool Principal Balance and the original Pre-Funded Amount.

OC Floor. With respect to any Distribution Date prior to the Distribution Date in December 2026, an amount equal to 0.35% of the sum of the Initial Cut-off Date Pool Principal Balance and the original Pre-funded Amount. With respect to any Distribution Date on or after the Distribution Date in December 2026, the greater of (a) 0.35% of the sum of the Initial Cut-off Date Pool Principal Balance and the original Pre-funded Amount and (b) the sum of (x) the aggregate Stated Principal Balance of the 40-Year Mortgage Loans as of the Due Date in the month of that Distribution Date (after giving effect to Principal Prepayments received in the related Prepayment Period) and (y) 0.10% of the sum of the Initial Cut-off Date Pool Principal Balance and the original Pre-funded Amount.

OC Floor. The product of (x) 0.50% and (y) the aggregate principal balance of the Loans as of the Cut-Off Date.