Undercollateralized Group Clause Samples
The "Undercollateralized Group" clause defines a category of parties or entities whose posted collateral falls below a required threshold under a financial agreement. In practice, this clause identifies which participants are considered undercollateralized, often by comparing their collateral value to their outstanding obligations or exposures. By clearly designating such groups, the clause helps trigger specific contractual remedies or risk mitigation measures, such as margin calls or restrictions on trading, thereby managing counterparty risk and protecting the interests of other parties in the agreement.
Undercollateralized Group. 74 Underwriter...................................................................................74
Undercollateralized Group. For any Distribution Date, Subgroup 1-1, if immediately prior to such Distribution Date the aggregate Class Principal Balance of the Subgroup 1-1 REMIC II Regular Interests and the Residual Certificates is greater than the aggregate Principal Balance of the Subgroup 1-1 Loans (less the applicable Class 1-P Fraction thereof with respect to each Class 1-P Mortgage Loan); for any Distribution Date, Subgroup 1-2, if immediately prior to such Distribution Date the aggregate Class Principal Balance of the Subgroup 1-2 REMIC II Regular Interests is greater than the aggregate Principal Balance of the Subgroup 1-2 Loans; for any Distribution Date, Subgroup 1-3, if immediately prior to such Distribution Date the aggregate Class Principal Balance of the Subgroup 1-3 REMIC II Regular Interests is greater than the aggregate Principal Balance of the Subgroup 1-3 Loans; and for any Distribution Date, Loan Group 2, if immediately prior to such Distribution Date the aggregate Class Principal Balance of the Group 2 REMIC II Regular Interests is greater than the aggregate Principal Balance of the Group 2 Loans (less the applicable Class 2-P Fraction thereof with respect to each Class 2-P Mortgage Loan). Underwriter: WaMu Capital Corp.
Undercollateralized Group. For any Distribution Date, Subgroup 1-1, if immediately prior to such Distribution Date the aggregate Class Principal Balance of the Subgroup 1-1 REMIC II Regular Interests and the Residual Certificates is greater than the aggregate Principal Balance of the Subgroup 1-1 Loans (less the applicable Class 1-P Fraction thereof with respect to each Class 1-P Mortgage Loan); for any Distribution Date, Subgroup 1-2, if immediately prior to such Distribution Date the aggregate Class Principal Balance of the Subgroup 1-2 REMIC II Regular Interests is greater than the aggregate Principal Balance of the Subgroup 1-2 Loans; and for any Distribution Date, Loan Group 2, if immediately prior to such Distribution Date the aggregate Class Principal Balance of the Group 2-A-L Regular Interests is greater than the aggregate Principal Balance of the Group 2 Loans (less the applicable Class 2-P Fraction thereof with respect to each Class 2-P Mortgage Loan). Underwriter: WaMu Capital Corp.
Undercollateralized Group. 57 UNDERWRITER.................................................................57
Undercollateralized Group. At any time of determination, any ------------------------- Certificate Group for which an Undercollateralization Amount greater than zero is calculated.
Undercollateralized Group. For any Distribution Date, a Senior Certificate Group as to which an Undercollateralization Amount exists.
Undercollateralized Group. 73 TABLE OF CONTENTS (continued) Page