Senior Target Amount definition
Senior Target Amount. With respect to each Distribution Date, an amount equal to the lesser of (a) the product of (i) 77.30% and (ii) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the Collection Period exceeds (ii) 0.50% of the Cut-off Date Balance.
Senior Target Amount. With respect to any Distribution Date, an amount equal to the lesser of (a) the product of (i) 63.30% and (ii) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Pool Balance for such Distribution Date determined as of the last day of the Collection Period exceeds (ii) the Overcollateralization Floor. Servicer: ▇▇▇▇▇ Fargo Bank, N.A., or any of its successors in interest.
Senior Target Amount. With respect to any Payment Date, an amount equal to the lesser of (a) the product of (i) 58.80% and (ii) the Aggregate Loan Balance for such Payment Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Loan Balance for such Payment Date determined as of the last day of the related Collection Period exceeds (ii) 0.50% of the Aggregate Loan Balance as of the Cut-off Date. Servicer: Aames Capital Corporation, or its successor in interest or assigns or any successor to the Servicer under this Agreement as herein provided.
Examples of Senior Target Amount in a sentence
For any Payment Date (a) prior to the Stepdown Date or if a Trigger Event is in effect with respect to such Payment Date, an amount equal to 100% of the Principal Payment Amount and (b) on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Payment Date, the excess, if any, of (x) the Class Principal Amount of the Class A1 and Class A2 Notes immediately prior to such Payment Date over (y) the Senior Target Amount.
For any Payment Date (a) prior to the Stepdown Date or if a Trigger Event is in effect with respect to such Payment Date, an amount equal to 100% of the Principal Payment Amount and (b) on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Payment Date, the lesser of (x) the principal Payment Amount and (y) excess, if any, of (A) the Class Principal Amount of the Class A Notes immediately prior to such Payment Date over (B) the Senior Target Amount.
More Definitions of Senior Target Amount
Senior Target Amount. With respect to any Payment Date, an amount equal to the lesser of (a) the product of (i) 55.30% and (ii) the Aggregate Collateral Balance for such Payment Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (i) the Aggregate Collateral Balance for such Payment Date determined as of the last day of the related Collection Period exceeds (ii) 0.50% of the Cut-off Date Collateral Balance.
Senior Target Amount. With respect to each Payment Date, an amount equal to the lesser of (a) the product of (i) [ ]% and (ii) the Pool Balance for such Payment Date and (b) the amount, if any, by which (i) the Pool Balance for such Payment Date exceeds (ii) 0.50% of the Cut-off Date Balance. Servicer: [ ] or any successor in interest, or if any successor servicer shall be appointed as herein provided, then such successor servicer.
Senior Target Amount. With respect to each Distribution Date, an amount equal to the lesser of (a) the product of (i) 56.50% and (ii) the Pool Balance for such Distribution Date and (b) the amount, if any, by which (i) the Pool Balance for such Distribution Date exceeds (ii) 0.50% of the Cut-off Date Balance. Servicer: Chase Manhattan Mortgage Corporation or any successor in interest.
Senior Target Amount. For any Distribution Date, (x) after the Stepdown Date and when a Trigger Event is not in effect, an amount equal to the lesser of (a) the product of (1) approximately 87.20% and (2) the Pool Principal Balance 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 (b) the amount, if any, by which (1) the Pool Principal Balance as of the Due Date in the month of that Distribution Date (after giving effect to Principal Prepayments received in the related Prepayment Period) exceeds (2) the OC Floor, and (y) for any other Distribution Date after the Stepdown Date on which a Trigger Event is in effect, the Senior Target Amount for the immediately preceding Distribution Date.
Senior Target Amount. Not applicable.
Senior Target Amount. With respect to each Distribution Date, an amount equal to the 89.50% of the Pool Balance for such Distribution Date.
Senior Target Amount. With respect to any Distribution Date an amount equal to the lesser of (a) the product of (1) (i) for each distribution prior to the Distribution Date in September 2012, 71.88%; and (ii) thereafter, 77.50% and (2) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period and (b) the amount, if any, by which (1) the Aggregate Loan Balance for such Distribution Date determined as of the last day of the related Collection Period exceeds (2) the Overcollateralization Floor. Servicer: Each Servicer that has entered into one of the Servicing Agreements attached as Exhibit E hereto, or any successor in interest. Initially, the Servicers are GreenPoint and GMACM. As of September 1, 2006 the servicing for certain of the Mortgage Loans will transfer to GMACM. As of October 1, 2006 the servicing for the remainder of the Mortgage Loans will transfer to GMACM. Service(s)(ing): In accordance with Regulation AB, the act of managing or collecting payments on the Mortgage Loans or any other assets of the Trust Fund by an entity that meets the definition of “servicer” set forth in Item 1101 of Regulation AB. For clarification purposes, any uncapitalized occurrence of this term shall have the meaning commonly understood by participants in the residential mortgage-backed securitization market.