Target Overcollateralization Amount definition

Target Overcollateralization Amount means, with respect to any Payment Date, 3.00% of the Adjusted Pool Balance as of the Cutoff Date. Notwithstanding the foregoing, the Target Overcollateralization Amount shall not exceed the Adjusted Pool Balance on such Payment Date.

Target Overcollateralization Amount means, for any Distribution Date, the greater of (i) 19.10% of the Pool Balance as of the end of the related Collection Period and (ii) 1.50% of the Pool Balance as of the Cutoff Date.

Target Overcollateralization Amount means, with respect to any Payment Date, $[ ] (which is approximately [ ]% of the Cutoff Date Pool Balance).

Examples of Target Overcollateralization Amount in a sentence

• From time to time after the date hereof, the Servicer may notify each Rating Agency that it wishes to apply a formula for determining the Target Overcollateralization Amount or the Reserve Account Required Amount that is different from the formula described in the related definition, or change the manner by which the Reserve Account is funded.

• If a Trigger Event is in effect, then the Target Overcollateralization Amount will equal the Target Overcollateralization Amount as of the prior Payment Date.

• The Target Overcollateralization Amount will be zero when the Certificate Principal Balance of each of the Offered Certificates and the Class M-3 Certificates is reduced to zero.

• The Certificateholders will be entitled to receive additional distributions in respect of principal on each Payment Date to the extent there is any amount available remaining after payment of all interest and principal on the Certificates and the Monthly Servicing Fee to the Servicer for such Payment Date, until the overcollateralization amount equals the Target Overcollateralization Amount.

• For any Payment Date, the lesser of (x) the Principal Remittance Amount for such Payment Date and (y) the excess, if any of (i) the Overcollateralization Amount, over (ii) the Target Overcollateralization Amount for such Payment Date.

More Definitions of Target Overcollateralization Amount

Target Overcollateralization Amount means, for any Payment Date, 0.25% of the Adjusted Pool Balance as of the Cut-Off Date.

Target Overcollateralization Amount means, with respect to any Payment Date, the product of (i) 2.50% and (ii) the initial Adjusted Pool Balance.

Target Overcollateralization Amount means, with respect to any Payment Dates an amount equal to 18.00% of the 2012-A Cutoff Date Aggregate Securitization Value.

Target Overcollateralization Amount means, with respect to a Payment Date, [the greater of (A) the product of [___]% times P and (B) the OC Floor, where: P = (a) the Related Pool Balance for such Payment Date minus (b) the YSOA for such Payment Date OC Floor = the lesser of (a) P and (b) the product of [____]% times Pi Pi = the Original Pool Balance]

Target Overcollateralization Amount means, with respect to any Payment Date, the greater of (a) [5.00]% of the Adjusted Pool Balance, minus amounts on deposit in the Reserve Account after withdrawals from the Reserve Account but prior to deposits to the Reserve Account, in each case, on such Payment Date and (b) [1.00]% 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.

Target Overcollateralization Amount. As to any Payment Date (a) prior to the Step-down Date, will be equal to approximately $ and (b) on or after the Step-down Date, so long as a Trigger Event is not in effect, approximately % of the Pool Balance as of the last day of the related Due Period, subject to a floor equal to % of the Initial Pool Balance. If a Trigger Event is in effect, then the Target Overcollateralization Amount will be equal to the Target Overcollateralization Amount as of the prior Payment Date.

Target Overcollateralization Amount means, with respect to any Payment Date, $6,600,000 (which is approximately 1.50% of the Cutoff Date Pool Balance).