Underwater definition

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.”
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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 means the mortgage exceeds the current property value. ”
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Examples of Underwater in a sentence

  • Applicants should also be aware of the need to pay due regard to coastal and marine archaeological matters and attention is drawn to Historic Scotland’s Operational Policy Paper HP6, “Conserving the Underwater Heritage”.

  • The Underwater paint system, before expiration of the warranty, should be checked by divers.

  • Underwater Operations ExclusionCover in respect of risks relating to Underwater Operations is not given under this insurance but only in accordance with the terms and conditions of Underwater Operations Cover where this has been selected by the Assured.

  • State-owned Underwater Lands Prior to undertaking any Nationwide Permit activity that will involve or occupy state-owned lands now or formerly under the waters of New York State, the party proposing the activity must first obtain all necessary approvals from: New York State Office of General Services Division of Real Estate Development Corning Tower Building, 26th Floor Empire State Plaza Albany, NY 12242 Tel.

  • Underwater breathing apparatus and plastic pools or their equivalent shall not be used around keelboats between the preparatory signal of the first race and the end of the regatta.

  • For more details, refer to Chapter 4: Underwater Inspections in the Manual of Bridge Inspection.

  • Underwater areas shall be filled in accordance with §203-3.04 Select Borrow or §203-3.05 Select Fill and paid for under its appropriate item.Where embankments are to be constructed over ground that will not adequately support embankment construction equipment, an initial layer of fill may be allowed to form a working platform.

  • Task 4B – Underwater Inspection Procedures – An underwater inspection procedure shall be developed.

  • Underwater irradiators must have a personnel access barrier around the pool which must be locked to prevent access when the irradiator is not attended.

  • Richard Halloran, “China, US Engaging in Underwater Arms Race,” Taipei Times, May 16, 2013: 8, accessed May 17, 2013, at http://www.taipeitimes.com/News/editorials/archives/2013/05/16/2003562368.


More Definitions of Underwater

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.
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Underwater means that the value of the fund would be below the high-water mark.
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Underwater means that the exercise price of a stock option is higher than the price of the actual stock.
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Underwater has the meaning set forth in Section 2.2(a).
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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.
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Related to Underwater

  • Substitute Awards means Awards granted or Shares issued by the Company in assumption of, or in substitution or exchange for, awards previously granted, or the right or obligation to make future awards, in each case by a company acquired by the Company or any Subsidiary or with which the Company or any Subsidiary combines.

  • Mooring means any swing or pile mooring whether private, commercial or recreational mooring that is located within the coastal marine area of Northland.

  • Substitute Award means an Award granted under the Plan upon the assumption of, or in substitution for, outstanding equity awards previously granted by a company or other entity in connection with a corporate transaction, such as a merger, combination, consolidation or acquisition of property or stock; provided, however, that in no event shall the term “Substitute Award” be construed to refer to an award made in connection with the cancellation and repricing of an Option or Stock Appreciation Right.

  • Substitution or “substitute” shall mean materials, products, equipment, assemblies, or installation methods deviating in at least one characteristic (physical, functional, or aesthetic) from those specified, but which in the opinion of the bidder would improve competition and/or enhance the finished installation. Acceptance of substitution is subject to the approval of the Designer and owner.

  • Strike Price means, except as otherwise provided by the Committee in the case of Substitute Awards, (i) in the case of a SAR granted in tandem with an Option, the Exercise Price of the related Option, or (ii) in the case of a SAR granted independent of an Option, the Fair Market Value on the Date of Grant.

  • Landscaping means the treatment of land (other than buildings) being the site or part of the site in respect of which this planning permission is granted, for the purpose of enhancing or protecting the amenities of the site and the area in which it is situated and includes screening by fences, walls or other means of enclosure; measures to screen the refuse provision; planting of trees, hedges, shrubs or grass; formation of banks, terraces or other earth works, laying out of gardens, paved areas or courts and other amenity features.

  • Deck means a walkway immediately adjacent to a swimming pool.

  • Dock means a fixed or floating structure extending from land out over water, including access walkways, terminal platforms, catwalks, mooring pilings, lifts, davits, and other associated water-dependent structures, used for mooring and accessing vessels.

  • Fabricating means to make, build, create, produce, or assemble components or property to work in a new or different manner.