OC Floor definition

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

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

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.

• Subordination Required Overcollateralization Amount:On any Distribution Date on or after the Stepdown Date on which a Delinquency Event has not occurred, the Subordination Required Overcollateralization Amount is equal to the Required Overcollateralization Amount determined without regard to the OC Floor minimum, otherwise the Subordination Required Overcollateralization Amount is equal to the Required Overcollateralization Amount.

• Under no circumstance shall the Required Overcollateralization Amount be less than the OC Floor.

• GARAGESGarages come standard with:• 9’ Roll-Up Door• Diamond Plated Threshold• 12” OC Floor Joists• 36” Steel-Clad Walk-In Door• 2’x3’ Window STANDARD MODELLOFTED BARN GARAGESLofted Barn Garages come with the same standard features as Garages, but also with lofts that can add up to 80% more storage space in the same square footage area (the lofts require 78” wall heights).

• Subordination Required Overcollateralization Amount: On any Distribution Date on which a Delinquency Event has not occurred, the Subordination Required Overcollateralization Amount is equal to the Required Overcollateralization Amount exclusive of the OC Floor calculation, otherwise the Subordination Required Overcollateralization Amount is equal to the Required Overcollateralization Amount.

More Definitions of OC Floor

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

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

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 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.