Excess Subordinated Amount definition

Excess Subordinated Amount. With respect to any Distribution Date, the excess, if any, of (a) the Subordinated Amount on such Distribution Date over (b) the Specified Subordinated Amount for such Distribution Date.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Excess Subordinated Amount. For any Distribution Date, means the excess, if any of (i) the overcollateralization and (ii) the required overcollateralization for such Distribution Date.

Excess Subordinated Amount. With respect to the Class A Certificates and any Distribution Date, the excess, if any, of (i) the Subordinated Amount for such Distribution Date over (ii) the Required Subordinated Amount for such Distribution Date.

Examples of Excess Subordinated Amount in a sentence

• Basic Principal On any Distribution Date, the excess of (i) the Distribution Amount: aggregate principal remittance amount over (ii) the Excess Subordinated Amount, if any.

• Where "n" is equal to the number of Distribution Dates that have occurred since the Trigger Date and "E.S.A." is equal to the amount of Excess Subordinated Amount that would otherwise be obtained for such Distribution Date without regard to the provisions of this proviso.

• BASIC PRINCIPAL On any Distribution Date, the excess of (i) the DISTRIBUTION AMOUNT: aggregate principal remittance amount over (ii) the Excess Subordinated Amount, if any.

• Notwithstanding the above, principal payments on REMIC III Group I Regular Interests that are attributable to the Excess Subordinated Amount shall be allocated to the Class III M-F Interests.

• BASIC PRINCIPAL On any Distribution Date, the excess of (i) the DISTRIBUTION AMOUNT: aggregate Principal Remittance Amount over (ii) the Excess Subordinated Amount, if any.

More Definitions of Excess Subordinated Amount

Excess Subordinated Amount. With respect to any Mortgage Loan Group and Distribution Date, the excess, if any, of (x) the Subordinated Amount that would apply to the related Mortgage Loan Group on such Distribution Date after taking into account the payment of the related Class A Distribution Amounts on such Distribution Date (except for any distributions of related Subordination Reduction Amounts on such Distribution Date), over (y) the related Specified Subordinated Amount for such Distribution Date.

Excess Subordinated Amount. With respect to either Home Equity Loan Group and Payment Date, the excess, if any, of (x) the Subordinated Amount that would apply to such Home Equity Loan Group on such Payment Date after taking into account the payment of the related Principal Distribution Amount on such Payment Date (except for any distributions of related Subordination Reduction Amounts on such Payment Date), over (y) the related Specified Subordinated Amount for such Payment Date.

Excess Subordinated Amount. With respect to any Pool of Mortgage Loans and any Remittance Date, the excess, if any, of (x) the Pool Subordinated Amount that would apply to such respective Pool on such Remittance Date after taking into account the payment of the Pool Remittance Amount for such respective Pool on such Remittance Date (except for any distributions of related Subordination Reduction Amounts on such Remittance Date) over (y) the related Specified Subordinated Amount for such Remittance Date.

Excess Subordinated Amount s to any Payment Date, the lesser of (x) the Principal Remittance Amount for such Payment Date and (y) the excess, if any of (i) the Overcollateralization Amount over (ii) the Target Overcollateralization Amount for such Payment Date.

Excess Subordinated Amount. With respect to any Mortgage Loan Group and Payment Date, the excess, if any, of (x) the Subordinated Amount that would apply to the related Mortgage Loan Group on such Payment Date after taking into account the payment of the related Class A Distribution Amounts on such Payment Date (except for any distributions of related Subordination Reduction Amounts on such Payment Date) over (y) the related Specified Subordinated Amount for such Payment Date.

Excess Subordinated Amount. Not Applicable.

Excess Subordinated Amount. With respect to the Mortgage Loans and any Distribution Date, the excess, if any, of (x) the Subordinated Amount that would apply on such Distribution Date after taking into account the payment of the related Class A Distribution Amount on such Distribution Date (except for any distributions of related Subordination Reduction Amounts on such Distribution Date) over (y) the related Specified Subordinated Amount for such Distribution Date; provided, however, that the Excess Subordinated Amount for the period beginning with the Distribution Date as to which clause (b)(i)(y)(A) of "Specified Subordinated Amount" applies (the "Trigger Date") and ending on the Distribution Date occurring in the month six months subsequent to the Trigger Date (inclusive) shall be limited to the amount obtained using the following formula.