Underwater definition

Underwater means that the Market Price of the Shares covered by an Option, Stand-Alone SAR or similar award is equal to or less than the Exercise Price or Base Price of the award.

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Underwater as used herein means that a homeowner owes more on their residential mortgage than what their house is actually worth on the market. This premise is also known as “negative equity.”

Underwater means the fair value of an Endowed Fund is less than its Historic Dollar Value.

Examples of Underwater in a sentence

• For the purposes of this definition the Approved Codes of Practice for; Recreational Scuba Training, Underwater Scientific Diving and Underwater Film and Media Work are not considered to be commercial diving.

• List of bridges recommended for Fracture Critical and/or Underwater Inspection — This list shall include bridges to be added to the State’s current fracture critical and underwater lists.

• Only an employee who possesses the required clearances and certifications as an underwater diver may be assigned to perform duties as a member of the Sheriff's Underwater Search and Recovery Team.

• Underwater setting device for preventing incidental catches of seabirds in tuna longline fishing, CCSBT-ERS/0402/Info06.

• The Sponsor and the Underwater agree that it would not be just and equitable if contribution pursuant to this Section 8 were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in Paragraph D.

More Definitions of Underwater

Underwater means that the value of the fund would be below the high-water mark.

Underwater has the meaning set forth in Section 2.2(a).

Underwater means that the exercise price of a stock option is higher than the price of the actual stock.

Underwater options with the Company or (b) the acquisition or exercise of any stock option issued pursuant to the Company's existing stock option plan, including any exercise effected by the delivery of Securities of the Company held by the undersigned. For purposes of this Letter Agreement, "immediate family" shall mean any relationship by blood, marriage or adoption, not more remote than first cousin. None of the restrictions set forth in this Letter Agreement shall apply to Common Stock acquired in open market transactions. In furtherance of the foregoing, the Company, and any duly appointed transfer agent for the registration or transfer of the securities described herein, are hereby authorized to decline to make any transfer of securities if such transfer would constitute a violation or breach of this Letter Agreement. The undersigned hereby represents and warrants that the undersigned has full power and authority to enter into this Letter Agreement. All authority herein conferred or agreed to be conferred and any obligations of the undersigned shall be binding upon the successors, assigns, heirs or personal representatives of the undersigned. The undersigned understands that, if the Placement Agency Agreement does not become effective, or if the Placement Agency Agreement (other than the provisions thereof which survive termination) shall terminate or be terminated prior to payment for and delivery of the Securities to be sold thereunder, the undersigned shall be released form all obligations under this Letter Agreement. This lock-up agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to the conflict of laws principles thereof. Very truly yours, [NAME OF OFFICER OR DIRECTOR] By: __________________________________ Title: Accepted as of the date first set forth above: ▇.▇. ▇▇▇▇▇▇ SECURITIES INC. By: ________________________________ Name: Title: EXHIBIT C Matters to be Covered in the General Counsel Legal Opinion Customary qualifying language to be included in actual opinion

Underwater or “upside down,” means that borrowers owe more on their mortgages than their homes are worth. California’s negative equity share is 30% (compared to 23% nationally)-- that means almost a third of homeowners are underwater on their mortgages.

Underwater means the mortgage exceeds the current property value. ”

Underwater mortgages or “upside down” means that borrowers owe more on their mortgage than their homes are worth. Negative equity can occur due to a decline in value, an increase in mortgage debt or both. This situation prevents the homeowner from selling the home. It also prevents the homeowner from refinancing in most cases. Consequently, if the homeowner wants to sell the home because mortgage payment is too high and is unable to pay the monthly mortgage, the home will fall into foreclosure unless the borrower is able to renegotiate the loan.