Undercollateralization Amount definition

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 the Senior Principal Certificates in 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

• In the event that there is more than one Undercollateralized Group on a Distribution Date, such Available Funds will be allocated pro rata among each such Undercollateralized Group, based on the Undercollateralization Amount or Undercollateralization Interest, as applicable, for each such Undercollateralized Group as a percentage of the aggregate Undercollateralization Amount or Undercollateralization Interest, respectively, for all such Undercollateralized Groups.

• 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.

• Only Proposals which receive a minimum of 40 points (from Technical Evaluation) will be considered further.

• At any time of determination, any ------------------------- Certificate Group for which an Undercollateralization Amount greater than zero is calculated.

• On each Distribution Date the Trustee shall transfer an amount equal, as to each Mortgage Pool, to the lesser of (x) the Undercollateralization Amount immediately prior to such date, and (y) the amount of interest accrued but unpaid on the Class X Certificate related to such Mortgage Pool as of such Distribution Date, from the Collateralization Account for such Mortgage Pool to the Certificate Account for distribution as part of the applicable Principal Distribution Amount pursuant to Section 5.02(c).

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 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, 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, 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. An amount initially equal to $3,533,933.16. For each Class and the related Pool on any Payment Date, the Undercollateralization Amount shall equal the excess, if any, of the related Security Principal Balance over the related Pool Balance (after taking into account all payments of principal through and including such Payment Date, other than payments made with funds drawn from the Demand Note, the Policy or (with respect to the Class A-1 Certificates only) the Guarantee).

Undercollateralization Amount. An amount initially equal to $5,866,313.93. For any Class and the related Pool on any Payment Date, the Undercollateralization Amount shall equal the excess, if any, of the related Note Principal Balance over the related Pool Balance (after taking into account all payments of principal through and including such Payment Date, other than payments made with funds drawn from the Demand Note or the Policy).

Undercollateralization Amount. With respect to any Payment Date the excess, if any, of (A) the aggregate Class A Note Principal Balance immediately preceding that Payment Date minus the sum of (i) all amounts (excluding that portion of Insured Payments, if any, to be made in respect of principal) to be distributed to the Class A Noteholders in respect of principal on such Payment Date on account of amounts described in clauses (c)(i) through (c)(iii), inclusive, and clauses (c)(v) (to the extent the amount in clause (c)(v) represents a right to receive principal not previously covered by an Insured Payment) and (c)(vi) of the definition of Class A Principal Remittance Amount, and (ii) all amounts distributed to the Class A Noteholders as a mandatory prepayment pursuant to the last paragraph of Section 6.06(c) (only on the Payment Date occurring on June 26, 2000), over (B) the sum of (i) the Pool Principal Balance at the beginning of the related Due Period plus (ii) the Pre-Funded Amounts minus the sum of (x) the principal portion of the Monthly Payments received during the related Due Period and deposited in the Principal and Interest Accounts pursuant to Section 5.03, and all Principal Prepayments, Curtailments, Excess Payments, Insurance Proceeds, Net Liquidation Proceeds, Released Mortgaged Property Proceeds and net income from any REO Property with respect to Mortgage Loans to the extent applied by the Servicer as recoveries of principal in respect of the Mortgage Loans, which will be distributed to the Class A Noteholders pursuant to Section 6.06 on such Payment Date, and (y) the aggregate of Realized Losses, as to each Mortgage Loan which became a Liquidated Mortgage Loan during the related Due Period.

Undercollateralization Amount. With respect to any Loan Group and any Payment Date, an amount equal to the excess, if any, of (i) the aggregate Note Principal Balance of the related Notes immediately prior to that Payment Date, over (ii) the aggregate Stated Principal Balance of the related Mortgage Loans as of the beginning of the related Due Period.