Pool II Specified Overcollateralization Amount definition

Pool II Specified Overcollateralization Amount. With respect to any Payment Date, the amount equal to the greater of: (I) the sum of (a) ____% of the Principal Balance of Mortgage Loans in Pool II which are 180 or more days Delinquent as of the close of business of the last day of the related Collection Period plus (b)(i) prior to the 31st Payment Date, ____% of the Initial Pool II Balance and (ii) on or after the 31st Payment Date, ____% of the Pool II Balance as of the current Payment Date; or (II) the related Excess Spread Step-Up Amount, if any; provided, however, that no reduction in clause (b)(ii) shall occur unless the Six Month Rolling Pool Delinquency Rate for Pool II is less than ____%. Notwithstanding the foregoing (a) such Pool II Specified Overcollateralization Amount may also be decreased with the consent of the Insurer and (b) in no case will the Pool II Specified Overcollateralization Amount be less than ____% of the Initial Pool II Balance.
Sample 1
Pool II Specified Overcollateralization Amount. With respect to any Payment Date, the amount equal to the greater of: (I) the sum of (a) the related Spread Squeeze Amount, (b) 90.00% of the Principal Balance of Mortgage Loans in Pool II which are 180 or more days Delinquent as of the close of business of the last day of the related Collection Period, plus (c)(i) prior to the 36th Payment Date, the greater of (x) 2.25% of the Initial Pool II Balance and (y) the Pool II Step-Up Overcollateralization Amount, (ii) on or after the 36th Payment Date, the greater of (x) the lesser of 2.25% of the Initial Pool II Balance and 4.50% of the Pool II Balance as of the current Payment Date, and (y) the Pool II Step-Up Overcollateralization Amount, or (II) the sum of the related Spread Squeeze Amount and 0.50% of the Initial Pool II Balance; provided, however, that no reduction in clause (c)(ii) shall occur unless (i) aggregate cumulative Liquidation Loss Amounts with respect to Pool II as a percentage of the Initial Pool II Balance are less than 3.75% and (ii) the Six Month Rolling Pool Delinquency Rate for Pool II is less than 3.00%.
Sample 1
Pool II Specified Overcollateralization Amount. With respect to any Payment Date, the amount equal to the greater of (I) the sum of (a) the related Spread Squeeze Amount, (b) 90% of the Principal Balance of Mortgage Loans in Pool II which are 180 or more days Delinquent as of the close of business of the last day of the related Collection Period and (c)(i) prior to the Payment Date in January 2003, 3.50% of the Pool II Balance as of the Closing Date and (ii) on or after the Payment Date in January 2003 the lesser of (x) 3.50% of the Pool II Balance as of the Closing Date and (y) 7.00% of the Pool II Balance as of the current Payment Date and (II) the sum of (a) the related Spread Squeeze Amount and (b) 0.50% of the Pool II Balance as of the Closing Date; provided, however, that no such reduction described in clause (c)(ii) shall occur unless (x) as of such Payment Date, the aggregate cumulative Liquidation Loss Amounts, with respect to the Pool II Mortgage Loans, are less than 3.75% of the Pool II Balance as of the Closing Date and (y) as of such Payment Date, the related Six Month Rolling Pool Delinquency Rate for Pool II is less than 2.50%.
Sample 1

Examples of Pool II Specified Overcollateralization Amount in a sentence

  • As applicable, the Pool I Specified Overcollateralization Amount or the Pool II Specified Overcollateralization Amount.


More Definitions of Pool II Specified Overcollateralization Amount

Pool II Specified Overcollateralization Amount. With respect to (I) any Payment Date occurring prior to the Stepdown Date, an amount equal to the sum of (a) 100.00% of the Principal Balance of Mortgage Loans in Pool II that are 270 or more days Delinquent as of the close of business of the last day of the related Collection Period (including all foreclosures and REO properties 270 or more days Delinquent as of the close of business of the last day of the related Collection Period) plus (b) 2.75% of the sum of (i) the Initial Pool II Balance plus (ii) the Original Class A-2 Pre-Funded Amount; or (II) any Payment Date occurring on or after the Stepdown Date, the greater of (a) the sum of (i) 100.00% of the Principal Balance of Mortgage Loans in Pool II that are 270 or more days Delinquent as of the close of business of the last day of the related Collection Period (including all foreclosures and REO properties 270 or more days Delinquent as of the close of business of the last day of the related Collection Period) plus (ii) 5.50% of the Pool II Balance, and (b) 0.50% of the sum of (i) the Initial Pool II Balance plus (ii) the Original Class A-2 Pre-Funded Amount; provided, however, that if on any Payment Date on or after the Stepdown Date either (a) cumulative Realized Losses on Pool II are greater than or equal to 3.0% of the sum of (i) the Initial Pool II Balance plus (ii) the Original Class A-2 Pre-Funded Amount or (b) the Excess Spread Amount with respect to Pool II is less than 0.70%, then the "Pool II Specified Overcollateralization Amount" on such Payment Date shall in no event be less than the Pool II Specified Overcollateralization Amount for the immediately preceding Payment Date.
Sample 1
Pool II Specified Overcollateralization Amount. With respect to any Payment Date, the amount equal to the greater of (I) the sum of (a) the related Spread Squeeze Amount, (b) 90% of the Principal Balance of Mortgage Loans in Pool II which are 180 or more days Delinquent as of the close of business of the last day of the related Collection Period and (c)(i) prior to the Payment Date in January 2003, 3.50% of the Pool II Balance as of the Closing Date and (ii) on or after the Payment Date in January 2003 the lesser of (x) 3.50% of the Pool II Balance as of the Closing Date and (y) 7.00% of the Pool II Balance as of the current Payment Date and (II) the sum of (a) the related Spread Squeeze Amount and (b) 0.50% of the Pool II Balance as of the Closing Date; provided, however, that no such reduction described in clause (c)(ii) shall occur unless (x) as of any such Payment Date, the aggregate cumulative Liquidation Loss Amounts, with respect to the Pool II Mortgage Loans, are less than 3.75% of the Pool II Balance as of the Closing Date and (y) as of any such Payment Date, the related Six Month Rolling Pool Delinquency Rate for Pool II is less than 2.50%.
Sample 1
Pool II Specified Overcollateralization Amount. With respect to a Payment Date the sum of (1) (x) prior to the Stepdown Date, the amount which is equal to 3.40% of the Pool II Maximum Collateral Amount and (y) after the Stepdown Date (i) if the Stepdown Requirement is satisfied, the lesser of (A) the greater of (i) an amount equal to 6.80% of the then outstanding aggregate Loan Balance of the Home Equity Loans and (ii) 0.50% of the Pool II Maximum Collateral Amount and (B) an amount equal to 3.40% of the Pool II Maximum Collateral Amount or (ii) if the Stepdown Requirement is not satisfied, the amount which is equal to 3.40% of the Pool II Maximum Collateral Amount; provided, however, that if on any Payment Date the Mortgage Portfolio Performance Test is not satisfied, then unless such Payment Date is also a Limited Release Date the Pool II Specified Overcollateralization Amount will be unlimited during the period that the Mortgage Portfolio Performance is not satisfied and (2) the Pool II Specified Overcollateralization Additional Amount.
Sample 1

Related to Pool II Specified Overcollateralization Amount

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • REMIC II Overcollateralization Amount With respect to any date of determination, (i) 0.50% of the aggregate Uncertificated Balances of the REMIC II Regular Interests (other than REMIC II Regular Interest P) minus (ii) the aggregate of the Uncertificated Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8, REMIC II Regular Interest M-9, REMIC II Regular Interest M-10 and REMIC II Regular Interest M-11, in each case as of such date of determination.

  • Required Overcollateralization Amount With respect to any Distribution Date, (a) prior to the Stepdown Date, an amount equal to 1.80% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date, (b) on or after the Stepdown Date if a Trigger Event is not in effect, the greater of (i) an amount equal to 3.60% of the aggregate outstanding Stated Principal Balance of the Mortgage Loans after giving effect to distributions made on that Distribution Date and (ii) the Overcollateralization Floor and (c) on or after the Stepdown Date if a Trigger Event is in effect, an amount equal to the Required Overcollateralization Amount from the immediately preceding Distribution Date. The Required Overcollateralization Amount may be reduced so long as written confirmation is obtained from each Rating Agency that such reduction shall not reduce the ratings assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency. Residential Funding: Residential Funding Corporation, a Delaware corporation, in its capacity as seller of the Mortgage Loans to the Depositor and any successor thereto.

  • Targeted Overcollateralization Amount means, for a Payment Date, an amount equal to:

  • 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.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Mortgage Loans before giving effect to distributions of principal to be made on such Distribution Date over (b) the aggregate Certificate Principal Balance of the Class A Certificates and Class M Certificates immediately prior to such date.

  • REMIC I Overcollateralized Amount With respect to any date of determination, (i) 1% of the aggregate Uncertificated Balance of the REMIC I Regular Interests (other than REMIC I Regular Interest I-LTP) minus (ii) the aggregate Uncertificated Balance of REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10, in each case as of such date of determination.

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Overcollateralization Deficiency Amount With respect to any Distribution Date, the amount, if any, by which the Overcollateralization Target Amount exceeds the Overcollateralized Amount on such Distribution Date (assuming that 100% of the Principal Remittance Amount is applied as a principal distribution on such Distribution Date).

  • Aggregate Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the aggregate of the Principal Remittance Amounts for each Mortgage Pool for such Distribution Date and (y) the amount, if any, by which (i) the Overcollateralization Amount for such date, calculated for this purpose on the basis of the assumption that 100% of the aggregate of the Principal Remittance Amounts for such Distribution Date is applied on such date in reduction of the aggregate Certificate Principal Amount of the Certificates, exceeds (ii) the Targeted Overcollateralization Amount for such Distribution Date.

  • Overcollateralization Target Amount As of any Distribution Date, 1.30% of the Initial Aggregate Receivables Principal Balance.

  • Excess Overcollateralized Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date.

  • Overcollateralization Release Amount With respect to any Distribution Date, the lesser of (x) the Principal Remittance Amount for such Distribution Date and (y) the Excess Overcollateralized Amount.

  • Overcollateralized Amount As of any Distribution Date, the excess, if any, of (a) the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date over (b) the aggregate of the Class Certificate Balances of the LIBOR Certificates as of such Distribution Date (after giving effect to the payment of the Principal Remittance Amount on such Certificates on such Distribution Date).

  • Overcollateralization Floor With respect to any Distribution Date, 0.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date.

  • Overcollateralization Deficiency For any Distribution Date will be equal to the amount, if any, by which (x) the Targeted Overcollateralization Amount for such Distribution Date exceeds (y) the Overcollateralization Amount for such Distribution Date, calculated for this purpose after giving effect to the reduction on such Distribution Date of the aggregate Class Principal Balance of the Certificates resulting from the payment of the Principal Payment Amount on such Distribution Date, but prior to allocation of any Applied Loss Amount on such Distribution Date.

  • Overcollateralization Increase Amount With respect to any Distribution Date, the lesser of (a) the Overcollateralization Deficiency Amount as of such Distribution Date and (b) the Net Monthly Excess Cashflow for such Distribution Date.

  • Overcollateralization Ratio means, as of any Measurement Date, the ratio (expressed as a percentage) obtained by dividing:

  • Undercollateralized Amount With respect any Certificate Group and Distribution Date, the excess of (i) the aggregate Certificate Principal Balance of such Certificate Group over (ii) the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group, in each case calculated on such Distribution Date after giving effect to distributions to be made thereon (other than amounts to be distributed pursuant to Section 4.02(i) on such Distribution Date).

  • Overcollateralized Group As defined in Section 4.03.

  • Undercollateralization Distribution As defined in Section 4.2(g).

  • Class A Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class A Floating Percentage of Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date, (b) the Class A Floating Percentage of the Reallocated Investor Finance Charge Collections and (c) the amount of funds, if any, to be withdrawn from the Reserve Account which, pursuant to subsection 4.12(d), are required to be included in Class A Available Funds with respect to such Distribution Date.

  • Class B Available Funds means, with respect to any Monthly Period, an amount equal to the sum of (a) the Class B Floating Percentage of the Reallocated Investor Finance Charge Collections and (b) if such Monthly Period relates to a Distribution Date with respect to the Controlled Accumulation Period, the Class B Floating Percentage of the Principal Funding Account Investment Proceeds, if any, with respect to such Distribution Date.

  • REMIC III Available Distribution Amount For any Distribution Date, the amount distributed from REMIC II to REMIC III on such Distribution Date in respect of the REMIC II Regular Interests.