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 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

• 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.

• 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.

• 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 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. 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.

Undercollateralization Amount. As defined in Section 4.07(b). -----------------------------

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. As defined in Section 5.04(a)(iv) Undercollateralized Group: For any Distribution Date, any Senior Certificate Group as to which the Certificate Principal Balance thereof (after giving effect to distributions of Group Available Funds on such Distribution Date) exceeds the aggregate Stated Principal Balance of the related Mortgage Loan Group as of the related Due Date.