Specified Subordinated Amount. Prior to the Stepdown Date, an amount equal to 0.50% of the Cut-off Date Pool Principal Balance. On and after the Stepdown Date, an amount equal to 1.00% of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date, subject, until the Class Certificate Balance of each Class of LIBOR Certificates has been reduced to zero, to a minimum amount equal to 0.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date; provided, however, that if, on any Distribution Date, a Trigger Event exists, the Specified Subordinated Amount shall not be reduced to the applicable percentage of the then current aggregate Stated Principal Balance of the Mortgage Loans until the Distribution Date on which a Trigger Event no longer exists. When the Class Certificate Balance of each Class of LIBOR Certificates has been reduced to zero, the Specified Subordinated Amount will thereafter equal zero. Sponsor: Sutton Funding LLC, a Delaware limited liability company, and its succexxxxx in interest.

Specified Subordinated Amount. Prior to the Stepdown Date, an amount equal to 3.85% of the Cut-off Date Pool Principal Balance. On and after the Stepdown Date, an amount equal to 7.70% of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date, subject, until the Class Certificate Balance of each Class of Offered Certificates has been reduced to zero, to a minimum amount equal to 0.50% of the Cut-off Date Pool Principal Balance; provided, however, that if, on any Distribution Date, a Trigger Event exists, the Specified Subordinated Amount shall not be reduced to the applicable percentage of the then current aggregate Stated Principal Balance of the Mortgage Loans until the Distribution Date on which a Trigger Event no longer exists. When the Class Certificate Balance of each Class of Offered Certificates has been reduced to zero, the Specified Subordinated Amount will thereafter equal zero.

Examples of Specified Subordinated Amount in a sentence

Insurer from Specified Subordinated Amount 10,800,000.01 FHA Acct.
Premium Amount Current Next Distribution Distribution Date Date ------------ ------------ Available Funds Available Funds Available Funds Shortfall Amortized Subordinated Amount Requirement Excess Subordinated Amount Specified Subordinated Amount Subordinated Amount Subordination Deficiency Amount Subordination Deficit Subordination Increase Amount Subordination Reduction Amount Principal Carry Forward Amount Principal Distribution Amount Reimbursement Amount Balance of Largest Loan EquiVantage Inc.
On the final Pre-Funding Distribution Date, the Certificate Insurer may modify the related Specified Subordinated Amount as provided in Exhibits L and M.
Premium Amount Current Next Distribution Distribution Date Date ---- ---- Available Funds Available Funds Available Funds Shortfall Amortized Subordinated Amount Requirement Excess Subordinated Amount Specified Subordinated Amount Subordinated Amount Subordination Deficiency Amount Subordination Deficit Subordination Increase Amount Subordination Reduction Amount Principal Carry Forward Amount Principal Distribution Amount Reimbursement Amount Balance of Largest Loan EquiVantage Inc.

More Definitions of Specified Subordinated Amount

Specified Subordinated Amount. With respect to any Distribution Date prior to the Stepdown Date, an amount equal to 1.90% of the Maximum Pool Principal Balance; and with respect to any Distribution Date on and after the Stepdown Date, an amount equal to 3.80% of the Current Maximum Amount for that Distribution Date subject to a minimum amount equal to 0.50% of the Maximum Pool Principal Balance; provided, however, that if, on any Distribution Date, a Trigger Event exists, the Specified Subordinated Amount shall not be reduced to the applicable percentage of the Current Maximum Amount, but instead will remain the same as the prior period's Specified Subordinated Amount until the Distribution Date on which a Trigger Event no longer exists. When the Class Certificate Balance of each Class of LIBOR Certificates has been reduced to zero, the Specified Subordinated Amount shall thereafter equal zero.

Specified Subordinated Amount. Prior to the Stepdown Date, an amount equal to 2.00% of the Cut-off Date Pool Principal Balance, and on and after the Stepdown Date, an amount equal to 4.00% of the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period, subject to a minimum amount equal to 0.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date; provided, however, that if, on any Distribution Date, a Trigger Event has occurred, the Specified Subordinated Amount shall not be reduced to the applicable percentage of the then current aggregate Stated Principal Balance of the Mortgage Loans until the Distribution Date on which a Trigger Event is no longer occurring.

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.

Specified Subordinated Amount. Prior to the Stepdown Date, an amount equal to 2.75% of the Cut-off Date Pool Principal Balance. On and after the Stepdown Date, an amount equal to 5.50% of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date, subject, until the Class Certificate Balance of each Class of LIBOR Certificates has been reduced to zero, to a minimum amount equal to 0.50% of the aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off Date; provided, however, that if, on any Distribution Date, a Trigger Event exists, the Specified Subordinated Amount shall not be reduced to the applicable percentage of the then current aggregate Stated Principal Balance of the Mortgage Loans until the Distribution Date on which a Trigger Event no longer exists. When the Class Certificate Balance of each Class of LIBOR Certificates has been reduced to zero, the Specified Subordinated Amount will thereafter equal zero. Sponsor: Barclays Bank PLC, a public limited company registered in England and Wales under company number 1026167, and its successors in interest.

Specified Subordinated Amount with respect to the related Pool, other than an amendment increasing the Pool I, Pool II or Pool III Initial Specified Subordinated Amount (or any component of the definition thereof), as the case may be, and accompanied by a cash deposit into the Spread Account pursuant to Section 6.05, must comply with the provisions of Section 13.02 hereof.