Margin Excess Amount

Margin Excess Amount. When referring to CMBS Transactions with respect to a Terms Annex under the Agreement, the amount, if any, by which the aggregate of the Repurchase Prices for all Purchased Securities covered by that Terms Annex is less than the aggregate of the products of (a) the applicable Buyer's Margin Ratio and (b) the Market Value of each Purchased Security covered by that Terms Annex.