Group I Subordination Deficit. As of any Distribution Date, the amount, if any, by which (a) the Certificate Principal Balance of the Class A-1 Certificates (after taking into account the payment of the Group I Class A Principal Distribution Amount (other than payments made with respect thereto pursuant to clause (vi) of the definition of Group I Class A Principal Distribution Amount from amounts drawn under the Group I Certificate Insurance Policy)) on such date exceeds (b) the Group I Pool Principal Balance determined as of the end of the immediately preceding Due Period.
Group I Subordination Deficit. With respect to Group I and any Payment Date, the amount, if any, by which (x) the Class A-1 Certificate Principal Balance, after taking into account the payment of the Group I Principal Distribution Amount on such Payment Date (except any payment to be made as to principal from the proceeds of the Fixed Rate Certificate Insurance Policy), exceeds (y) the sum of (a) the aggregate Loan Balances of the Mortgage Loans in Group I as of the close of business on the last day of the related Due Period and (b) the amount, if any, on deposit in the Pre-Funding Account exclusive of any Pre-Funding Account Earnings related to Group I as of the close of business on the last day of the related Remittance Period; provided that for the purpose of calculating Loan Balances to determine if a Subordination Deficit exists, the aggregate amount of the principal component of all unreimbursed Delinquency Advances shall be deducted from the related actual Loan Balances.
Group I Subordination Deficit. With respect to any Payment Date, the amount, if any, by which (x) the Class A-1 Certificate Principal Balance, after taking into account the payment of the Group I Principal Distribution Amount on such Payment Date (except any payment to be made as to principal on such Payment Date from the proceeds of the Group I Certificate Insurance Policy), exceeds the sum of (y) the aggregate Loan Balance of the Mortgage Loans in Group I as of the close of business on the last day of the preceding Remittance Period after taking into account payments of scheduled principal on such Mortgage Loans due on the Due Date in the calendar month in which such Payment Date occurs and (z) the portion of the Pre-Funded Amount related to Group I as of the close of business on the last day of the related Remittance Period; provided that for the purpose of calculating Loan Balances to determine if a Group I Subordination Deficit exists, the aggregate amount of the principal component of all unreimbursed Delinquency Advances relating to Group I shall be deducted from the related actual Loan Balances.
Examples of Group I Subordination Deficit in a sentence
In each case above, Liquidated Loan Losses after the Certificate Principal Balances of the Certificates described above have been reduced to zero shall not be allocated to any specific class of related Certificates, but shall increase the Group I Subordination Deficit or Group II Subordination Deficit, as applicable, in the manner described in this Agreement.
Please be advised that the amount set forth in (a) (iv) above is not sufficient to pay all of the following amounts in full: the Group I Interest Distribution Amount, the Group II Interest Distribution amount, the Group I Subordination Deficit, the Group II Subordination Deficit, the unpaid Group I Preference Amount and the unpaid Group II Preference Amount in respect of the Payment Date set forth above.
More Definitions of Group I Subordination Deficit
Group I Subordination Deficit. As of any Payment Date, the excess, if any, of (x) the sum of the Class A-1 Principal Balance, the Class A-2 Principal Balance, the Class A-3 Principal Balance, the Class A-4 Principal Balance and the Class A-5 Principal Balance after taking into account the amount otherwise payable as the Group I Principal Distribution Amount on such Payment Date (i.e., the sum of (i) the Base Group I Principal Distribution Amount and (ii) the Group I Subordination Increase Amount), over (y) the Group I Pool Principal Balance as of the close of business on the last day of the preceding Remittance Period.
Group I Subordination Deficit. As of any Payment Date, the excess, if any, of (x) the Group I Certificate Principal Balance, after taking into account the payment of principal made pursuant to clause (a) through clause (e) of the definition of the Group I Principal Distribution Amount to the Holders of the Group I Certificates on such Payment Date (other than the principal portion of any Group I Insured Payment), over (y) the Group I Aggregate Loan Balance as of the close of business on the last day of the prior Remittance Period.
Group I Subordination Deficit. With respect to Group I and any Distribution Date, the excess of (x) the Group I Certificate Principal Balance, after taking into account the payment of the Group I Principal Distribution Amount on such Distribution Date (except any payments as to principal from the proceeds of the Group I Certificate Insurance Policy to be made on such Distribution Date) over (y) the sum of (i) the aggregate Scheduled Principal Balances of the Mortgage Loans in Group I as of the close of business on the last day of the related Due Period and (ii) the Group I Pre-Funded Amount less any Pre- Funding Account Earnings with respect thereto.
Group I Subordination Deficit. With respect to Mortgage Loan Group I as of any Payment Date, the amount, if any, by which (x) the aggregate Group I Certificate Principal Balance, after taking into account the payment of the Group I Principal Distribution Amount (calculated for this purpose only without regard to clause (ii)(f) thereof) on such Payment Date, exceeds (y) the aggregate Loan Balances of the Mortgage Loans in Mortgage Loan Group I as of the close of business on the last day of the prior Remittance Period.
Group I Subordination Deficit. As of any Payment Date, the excess, if any, of (x) the Group I Certificate Principal Balance, after taking into account the payment of principal made pursuant to clause (a) through clause (e) of the definition of the Group I Principal Distribution Amount to the Holders of the Group I Certificates on such Payment Date (other than the principal portion of any Group I Insured Payment), over (y) the Group I Aggregate Loan Balance as of the close of business on the last day of the prior Remittance Period; provided, that with respect to the Payment Date occurring in July 2028 for the Group I Certificates, the Group I Subordination Deficit shall be the aggregate outstanding Group I Certificate Principal Balance if the Servicer has not purchased all remaining Mortgage Loans in Group I as of the preceding Remittance Date at the Loan Purchase Price thereof.
Group I Subordination Deficit. As of any Payment Date, the excess, if any, of (x) the sum of the Class A-1 Principal Balance, the Class A-2 Principal Balance, the Class A-3 Principal Balance and the Class A-4 Principal Balance after taking into account the amount otherwise payable as the Group I Principal Distribution Amount on such Payment Date (i.e., the sum of (i) the Base Group I Principal Distribution Amount and (ii) the Group I Subordination Increase Amount), over (y) the Group I Pool Principal Balance as of the close of business on the last day of the preceding Remittance Period.
Group I Subordination Deficit. With respect to Group I as of any Payment Date, the amount, if any, by which (x) the aggregate Class A-1 Certificate Principal Balance , after taking into account the payment of the Group I Principal Distribution Amount (calculated for this purpose only without regard to clause (ii)(f) thereof) on such Payment Date, exceeds (y) the aggregate Loan Balances of the Mortgage Loans in Group I as of the close of business on the last day of the prior Remittance Period and including any amounts held by the Trustee in the Pre-Funding Account.