Subordination Level definition

Subordination Level. On any specified date, with respect to any Class of Class X-X Regular Interests, the percentage obtained by dividing the aggregate Class Principal Balance of such Class and the Classes of Class X-X Regular Interests which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the REMIC I Regular Interests and the Class R-1 Residual Interest as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on the Mortgage Loans on such date.

Subordination Level. As to any Distribution Date and any Class of Group C-B Certificates, the percentage obtained by dividing the sum of the Class Principal Balances of all Classes of Group C-B Certificates which are subordinate in right of payment to such Class by the sum of the Class Principal Balances of the Group I, Group II, Group III, Group IV, Group V and Group C-B Certificates, in each case immediately prior to such Distribution Date.

Subordination Level. On any specified date, with respect to any Class of Class B Certificates, the percentage obtained by dividing the aggregate Class Principal Balance of the Classes of Class B Certificates which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Certificates as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on the Mortgage Loans on such date.

Examples of Subordination Level in a sentence

• Estimated Subordination Level* 5.5% +/- Settlement Date 5/31/2005 Clean Up Call 10% * Subordination will be crossed.

• The Trustee shall identify the most senior class of Subordinate Certificates for which the Subordination Level is less than the Subordination Level as of the Closing Date, and the portion of the Subordinate Principal Distribution Amount otherwise allocable to the Classes of Subordinate Certificates junior to such Class will instead be allocated among the more senior Classes of Subordinate Certificates, pro rata in proportion to the Certificate Balances of those Classes.

• Subordination Level Pricing Speed 100% PPC PPC Ramp 4-16 Cpr in 12 months and 16CPR thereafter Settlement Date 05/28/04 Depositor Mortgage Asset Securitization Transactions, Inc.

• Except as disclosed in Schedule 4.2(e) attached hereto, as of the date hereof, there are no actions, suits or proceedings pending against the Asset in any court or before or by an arbitration tribunal or regulatory commission, department or agency and, to the Seller’s Knowledge, none are threatened.

• Only the chat room scripts provided for the client by Success Corporation are allowed on our web server.

More Definitions of Subordination Level

Subordination Level. On any specified date, with respect to any Class of Subordinate Certificates, the percentage obtained by dividing: (1) the sum of the Class Principal Balances of all Classes of Certificates which are subordinate in right of payment to such Class as of such date before giving effect to distributions or allocations of Realized Losses on the Loans on such date; by (2) the sum of the Class Principal Balances of all Classes of Certificates as of such date before giving effect to distributions or allocations of Realized Losses on the Loans on such date.

Subordination Level. On any specified date, with respect to any Class of Group C-B-L Regular Interests, the percentage obtained by dividing the aggregate Class Principal Balance of the Classes of Group C-B-L Regular Interests which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Group I-L, Group II-L and Group C-B-L Regular Interests and the Class R-1 Residual Interest as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on the Mortgage Loans on such date.

Subordination Level. As to any Distribution Date and any Class of Group I Subordinate Certificates, the percentage obtained by dividing the sum of the Class Principal Balances of all Classes of Group I Subordinate Certificates which are subordinate in right of payment to such Class by the sum of the Class Principal Balances of the Group I Certificates, in each case immediately prior to such Distribution Date.

Subordination Level. On any specified date, with respect to any Class of Group C-B-L Regular Interests, the percentage obtained by dividing the aggregate Class Principal Balance of the Classes of Group C-B-L Regular Interests which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Class A-P-L, Group I-L, Group II-L, Group III-L and Group C-B-L Regular Interests and the Class R-1 Residual Interest as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on the Mortgage Loans on such date.

Subordination Level. On any specified date with respect to any Class of Group II Subordinate Certificates, the percentage obtained by dividing: (1) the sum of the aggregate Certificate Principal Balances of all Classes of Group II Subordinate Certificates which are subordinate in right of payment to such Class as of such date, before giving effect to distributions of principal or allocations of related Realized Losses on such date; by (2) the sum of the aggregate Certificate Principal Balances of all Classes of Group II Certificates (other than the Interest Only Certificates) as of such date, before giving effect to distributions of principal or allocations of related Realized Losses on such date.

Subordination Level. On any Distribution Date for any Class of Group C-B Certificates, the percentage obtained by dividing the sum of the aggregate Class Principal Balances of all Classes of Group C-B Certificates which are subordinate in right of payment to that Class by the sum of (a) the aggregate Class Principal Balances of all Classes of Group I, Group II and Group C-B Certificates and (b) the Class P Fraction of each Class P Mortgage Loan in Loan Group I, in each case as of the last day of the preceding calendar month. On any Distribution Date for any Class of Group D-B Certificates, the percentage obtained by dividing the sum of the aggregate Class Principal Balances of all Classes of Group D-B Certificates which are subordinate in right of payment to that Class by the sum of (a) the aggregate Class Principal Balances of all Classes of Group III, Group IV, Group V and Group D-B Certificates and (b) the Class P Fraction of each Class P Mortgage Loan in Loan Group IV and Loan Group V, in each case as of the last day of the preceding calendar month.

Subordination Level. On any specified date, with respect to any Class of Group L-B Certificates, the percentage obtained by dividing the aggregate Class Principal Balance of such Class and the Classes of Group L-B Certificates which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Group 1, Group 2 and Group L-B Certificates and the Class R-1 Residual Interest as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on such date. On any specified date, with respect to any Class of Group 3-B Certificates, the percentage obtained by dividing the aggregate Class Principal Balance of such Class and the Classes of Group 3-B Certificates which are subordinate in right of payment to such Class by the aggregate Class Principal Balance of the Group 3 Certificates as of such date prior to giving effect to distributions of principal and interest and allocations of Realized Losses on such date.