Overcollateralization Floor Amount definition
Overcollateralization Floor Amount. With respect to any Distribution Date, the amount equal to 0.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.
Overcollateralization Floor Amount means 1.30% of the Cut-Off Date Aggregate Principal Balance.
Overcollateralization Floor Amount. For any Distribution Date, an amount equal to $1,492,716.
More Definitions of Overcollateralization Floor Amount
Overcollateralization Floor Amount means $18,200,000, which amount equals 1.30% of the Cut-Off Date Aggregate Principal Balance.
Overcollateralization Floor Amount means $20,800,000, which amount equals 1.30% of the Cut-Off Date Aggregate Principal Balance (assuming that the entire Pre-Funding Account Initial Deposit Amount is used to acquire Subsequent Contracts during the Pre-Funding Period).
Overcollateralization Floor Amount means $20,800,000, which amount equals 1.30% of the Cut-Off Date Aggregate Principal Balance; provided, however, that such percentage shall be increased to 1.70% of the Cut-Off Date Aggregate Principal Balance if on any Distribution Date the Net Cumulative Chargeoff Percentage as of the last day of the related Collection Period is greater than the Overcollateralization Floor Step-up Trigger Percentage for that Distribution Date. In addition, the Overcollateralization Floor Amount will increase to 2.00% of the Cut-Off Date Aggregate Principal Balance if on any Distribution Date the Net Cumulative Chargeoff Percentage as of the last day of the related Collection Period is greater than the Overcollateralization Floor Step-up Trigger Percentage for that Distribution Date and (i) any Class of Notes are downgraded, (ii) the Master Servicer (a) fails to deliver to Moody's the report required by Section 4.11(b) within the time period required by Section 4.11(b) or (b) delivers a report to Moody's pursuant to Section 4.11(b) that contains a material exception to the minimum servicing standards identified in USAP or (iii) the long-term issuer rating of the Bank assigned by ▇▇▇▇▇'▇ is Ba3 and is placed on watch for downgrade, Ba3 subject to negative outlook, or downgraded below Ba3.
Overcollateralization Floor Amount means $28,000,000; provided, however, that if the Overcollateralization Step-Down Tests are satisfied on (a) the February 2008 Distribution Date, the Overcollateralization Floor Amount for that Distribution Date and each Distribution Date through and including the July 2008 Distribution Date will be $21,000,000 and (b) the August 2008 Distribution Date, the Overcollateralization Floor Amount for that Distribution Date and each Distribution Date thereafter will be $14,000,000.
Overcollateralization Floor Amount means an amount not less than $15,000,000.