Undercollateralization Amount. With respect to any Payment Date, the amount by which the aggregate Bond Principal Balance of the Class A Bonds exceeds the aggregate Stated Principal Balance of the Mortgage Loans and the Pre-Funded Amount immediately following such Payment Date.
Undercollateralization Amount. As to any Distribution Date and Group, the amount by which the aggregate Note Principal Balance of the Notes in the related Class of Notes (after giving effect to distributions in respect of principal on such Notes, other than any portion thereof in respect of Cross-Collateralization Payments and Insured Payments, on such Distribution Date) exceeds the Group Principal Balance at the end of the related Remittance Period.
Undercollateralization Amount. For any Distribution Date prior to the Cross-Over Date and any Senior Certificate Group, the amount, if any, by which, after giving effect to distributions on such Distribution Date pursuant to clauses (i) through (iii) of Section 6.01(a), the Current Principal Amount of such Senior Certificate Group would exceed the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Mortgage Loan Group.
Examples of Undercollateralization Amount in a sentence
On the Insured Undercollateralization Payment Date, the Indenture Trustee shall make a draw on the Credit Enhancement Instrument in an amount equal to the Undercollateralization Amount, if any, remaining after payment of all other amounts to be paid pursuant to Section 3.05(a) on such Payment Date.
For any Distribution Date, a Senior Certificate Group as to which an Undercollateralization Amount exists.
On or prior to 12:00 p.m. on the second Business Day before the Insured Undercollateralization Payment Date, the Indenture Trustee shall make a draw on the Group II Policy in an amount equal to the Undercollateralization Amount, if any, remaining after payment of all other amounts to be paid pursuant to Section 3.05(a) on such Payment Date.
At any time of determination, any ------------------------- Certificate Group for which an Undercollateralization Amount greater than zero is calculated.
In addition to the foregoing, on the Insured Undercollateralization Payment Date, if there is any Undercollateralization Amount remaining, the Noteholders shall be entitled to an additional principal payment (to be allocated to the Term Notes and Variable Funding Notes on a pro rata basis) equal to the Undercollateralization Amount, if any, which shall be payable from the Credit Enhancement Draw Amount pursuant to Section 3.28.
More Definitions of Undercollateralization Amount
Undercollateralization Amount. With respect to any Payment Date, an amount (not less than zero) equal to the excess, if any, of (a) the aggregate of the Class Principal Balances of all Classes of Notes, after giving effect to payments in respect of the Notes and the Residual Interest Certificates on such Payment Date, over (b) the sum of (i) the Pool Principal Balance as of the end of the preceding Due Period and (ii) the amount, if any, on deposit in the Pre-Funding Account as of the end of such Due Period. Notwithstanding the foregoing, on any date after the Payment Date on which the Undercollateralization Amount is first reduced to zero, such amount shall be deemed to be zero.
Undercollateralization Amount. With respect to any Payment Date, an amount (not less than zero) equal to the excess, if any, of (a) the aggregate of the Class Principal Balances of all Classes of Notes, after giving effect to payments in respect of the Notes and the Residual Interest Certificates on such Payment Date, over (b) the Pool Principal Balance as of the end of the preceding Due Period. Notwithstanding the foregoing, on any date after the Payment Date on which the Undercollateralization Amount is first reduced to zero, such amount shall be deemed to be zero.
Undercollateralization Amount. With respect to any Payment Date, the amount by which the aggregate Bond Principal Balance of the Class A Bonds exceeds the aggregate Stated Principal Balance of the Mortgage Loans immediately following such Payment Date. Underwriters: Bear, Stearns & Co. Inc. and Countrywide Securities Corporation, or their succesxxxx.
Undercollateralization Amount. As to any Distribution Date and Loan Group I, the excess, if any, of the Certificate Principal Balances of the Class A-1 Certificates immediately prior to such Distribution Date over the sum of (i) the aggregate of the Non-Class PO Percentage of the Scheduled Principal Balance of each of the Mortgage Loans in such Loan Group plus (ii) the aggregate of the Non-Class PO Percentage of the Scheduled Principal Balance of each of the REO Properties in such Loan Group, in each case before reduction for any Realized Losses on such Distribution Date. As to any Distribution Date and Loan Group II, the excess, if any, of the Certificate Principal Balances of the Class A-2 Certificates immediately prior to such Distribution Date over the sum of (i) the aggregate of the Non-Class PO Percentage of the Scheduled Principal Balance of each of the Mortgage Loans in such Loan Group plus (ii) the aggregate of the Non-Class PO Percentage of the Scheduled Principal Balance of each of the REO Properties in such Loan Group, in each case before reduction for any Realized Losses on such Distribution Date.
Undercollateralization Amount. With respect to any Payment Date will be equal to the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Class A1, Class A2, Class M1, Class M2 and Class B1 Notes after giving effect to payments on such Payment Date, and (ii) the Minimum Overcollateralization Amount for such Payment Date exceeds (y) the Pool Balance for such Payment Date.
Undercollateralization Amount. As to any Distribution Date and any ----------------------------- Certificate Group, the excess, if any, of the sum of the Class Certificate Principal Amounts and Component Principal Amounts of the Classes and Components of such Certificate Group immediately prior to such Distribution Date over the aggregate of the Scheduled Principal Balances of the Mortgage Loans in the related Mortgage Pool as of the first day of the month of such Distribution Date.
Undercollateralization Amount. With respect to 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) and Section 4.02(j) on such Distribution Date).