Examples of Undercollateralized Group in a sentence
If more than one such Certificate Group is an Undercollateralized Group, the available Subordinate Principal Distribution Amount shall be distributed between such Undercollateralized Groups pro rata according to the Pool Principal Balance of the related Loan Group.
On each Payment Date, the Securities Administrator shall remit amounts then on deposit in the Reserve Fund to the Holders of the Senior Notes of any Undercollateralized Group in the manner and priorities set forth in clause (A) of Section 3.03(h) hereof, or if no Senior Notes remain outstanding, to the Holders of the Subordinate Notes in the manner and priorities set forth at the end of such Section 3.03(h).
Such amount will be paid to the Senior Non-PO Certificates and IO Component of such Undercollateralized Group in accordance with the priorities set forth in Section 5.02(a)(i) up to their Interest Distribution Amounts or Component Interest Distribution Amounts for such Distribution Date.
Undercollateralized Group: Any Certificate Group, as to which, on any Distribution Date, the aggregate Class Principal Balance of the Senior Certificates related to such Certificate Group of which (after giving effect to distributions to be made on such Distribution Date) is greater than the Group Pool Principal Balance of the related Loan Group for the following Distribution Date.
If more than one of such Certificate Groups is an Undercollateralized Group, the available Subordinate Principal Distribution Amount shall be distributed between such Undercollateralized Groups pro rata according to Group Pool Principal Balances.