Over Collateralization definition

Over Collateralization means, as of the last Business Day of any Accounting Month, an amount, as calculated by the Lender, equal to the positive amount, if any, by which the NPV of Scheduled Payments other than Excluded Scheduled Payments of all Leases in a Lease Pool exceeds one hundred ten percent (110%) of the outstanding Loans to the applicable Borrower as of such date. For purposes of calculating Over Collateralization, the NPV of such Scheduled Payments shall be discounted back to the first (1st) day of such month using the monthly equivalent of the Discount Rate (as determined by reference to LIBOR Loans) and further assuming that all such Scheduled Payments are payable on the fifteenth (15th) day of the calendar month in which such Scheduled Payment is due, regardless of the actual due date. Such calculation shall be made to reflect the amendments to Leases that a Borrower has documented in such prior Accounting Month as allowed under the Servicing Agreement and reported to Lender by the fourth (4th) day of the month such payment is due.
View Source

Examples of Over Collateralization in a sentence

  • During the term hereof, the Investment Agreement Provider shall deposit all Cash Assets (other than Required Third Party Collateral) and the Holding Company shall deposit the Required Over Collateralization Deposits and any other contributions to the Investment Agreement Provider with the Collateral Agent in each case to be held by the Collateral Agent hereunder in the Collateral Account in accordance with the terms hereof and the Securities Account Control Agreement.

  • The Holding Company shall contribute to the Investment Agreement Provider the initial Required Over Collateralization Deposit and all subsequent Required Over Collateralization Deposits, which shall become Cash Assets and be deposited, held, invested and released as provided in the Collateral Management Agreement as part of the Collateral.

  • The Required Collateral Amount shall be calculated by multiplying (1) the value of all Qualified Investment Contracts by (2) one plus the Over Collateralization Percentage.

  • The Investment Agreement Provider shall apply its Cash Assets equal to or less than the Over Collateralization Percentage only as expressly permitted under the Related Agreements and for no other purpose.

Related to Over Collateralization

  • Bank Product Collateralization means providing cash collateral (pursuant to documentation reasonably satisfactory to Agent) to be held by Agent for the benefit of the Bank Product Providers (other than the Hedge Providers) in an amount determined by Agent as sufficient to satisfy the reasonably estimated credit exposure with respect to the then existing Bank Product Obligations (other than Hedge Obligations).

  • Cash Collateralization has a correlative meaning.

  • Letter of Credit Collateralization means either (a) providing cash collateral (pursuant to documentation reasonably satisfactory to Agent, including provisions that specify that the Letter of Credit Fees and all commissions, fees, charges and expenses provided for in Section 2.11(k) of the Agreement (including any fronting fees) will continue to accrue while the Letters of Credit are outstanding) to be held by Agent for the benefit of the Revolving Lenders in an amount equal to 105% of the then existing Letter of Credit Usage, (b) delivering to Agent documentation executed by all beneficiaries under the Letters of Credit, in form and substance reasonably satisfactory to Agent and Issuing Bank, terminating all of such beneficiaries’ rights under the Letters of Credit, or (c) providing Agent with a standby letter of credit, in form and substance reasonably satisfactory to Agent, from a commercial bank acceptable to Agent (in its sole discretion) in an amount equal to 105% of the then existing Letter of Credit Usage (it being understood that the Letter of Credit Fee and all fronting fees set forth in the Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit).

  • Letter of Credit Undrawn Amounts means, at any time, the aggregate undrawn face amount of all Letters of Credit outstanding at such time.

  • Cross-Collateralized Group Any group of Mortgage Loans that are cross-collateralized and cross-defaulted with each other; provided that a Mortgage Loan shall be part of a Cross-Collateralized Group only if and for so long as such Mortgage Loan is cross-collateralized and cross-defaulted with each other Mortgage Loan in such Cross-Collateralized Group. There are no Cross-Collateralized Groups included as assets of the Trust as of the Closing Date.