ARD Loans. Each ARD Loan requires scheduled monthly payments of principal and/or interest. If any ARD Loan is not paid in full by its Anticipated Repayment Date, and assuming it is not otherwise in default, (i) the rate at which such ARD Loan accrues interest will increase by at least two (2) percentage points and (ii) the related Mortgagor is required to enter into a lockbox arrangement on the ARD Loan whereby all revenue from the related Mortgaged Property shall be deposited directly into a designated account controlled by the applicable servicer.
Appears in 47 contracts
Sources: Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2007-C1), Mortgage Loan Purchase Agreement (ML-CFC Commercial Mortgage Trust 2006-2), Mortgage Loan Purchase Agreement (ML-CFC Commercial Mortgage Trust 2007-9)
ARD Loans. Each ARD Loan requires scheduled monthly payments of principal and/or interestprincipal. If any ARD Loan is not paid in full by its Anticipated Repayment Date, and assuming it is not otherwise in default, (i) the rate at which such ARD Loan accrues interest will increase by at least two (2) percentage points and (ii) the related Mortgagor is required to enter into a lockbox arrangement on the ARD Loan whereby all revenue from the related Mortgaged Property shall be deposited directly into a designated account controlled by the applicable servicer.
Appears in 18 contracts
Sources: Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2005-McP1), Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2005-Cip1), Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2005-Cki1)
ARD Loans. Each ARD Loan requires scheduled monthly payments of principal and/or interestprincipal. If any ARD Loan is not paid in full by its Anticipated Repayment Date, and assuming it is not otherwise in default, (i) the rate at which such ARD Loan accrues interest will increase by at least two (2) percentage points and (ii) the related Mortgagor Borrower is required to enter into a lockbox arrangement on the ARD Loan whereby all revenue from the related Mortgaged Property shall be deposited directly into a designated account controlled by the applicable servicerMaster Servicer.
Appears in 9 contracts
Sources: Mortgage Loan Purchase Agreement (Merrill Lynch Comm Mort Ps THR Certs Ser 2003-Key1), Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Investors Inc Trust 2004-Mkb1), Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Investors Inc Trust 2004-Mkb1)
ARD Loans. Each ARD Loan requires scheduled monthly payments of principal and/or interestprincipal. If any ARD Loan is not paid in full by its Anticipated Repayment Date, and assuming it is not otherwise in default, (i) the rate at which such ARD Loan accrues interest will increase by at least two (2) percentage points and (ii) the related Mortgagor is required to enter into a lockbox arrangement on the ARD Loan whereby all revenue from the related Mortgaged Property shall be deposited directly into a designated account controlled by the applicable servicerMaster Servicer.
Appears in 8 contracts
Sources: Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2005-Mkb2), Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2004-Bpc1), Mortgage Loan Purchase Agreement (Merrill Lynch Mortgage Trust 2004-Bpc1)
ARD Loans. Each Except as otherwise described on Schedule C-1, each ARD Loan requires scheduled monthly payments of principal and/or interestprincipal. If any ARD Loan is not paid in full by its Anticipated Repayment Date, and assuming it is not otherwise in default, (i) the rate at which such ARD Loan accrues interest will increase by at least two (2) percentage points and (ii) the related Mortgagor Borrower is required to enter into a lockbox arrangement on the ARD Loan whereby all revenue from the related Mortgaged Property shall be deposited directly into a designated account controlled by the applicable servicerMaster Servicer.
Appears in 5 contracts
Sources: Mortgage Loan Purchase Agreement (Credit Suisse First Boston Mor Sec Corp Com Cer Ser 2003-C3), Mortgage Loan Purchase Agreement (Credit Suisse First Boston Mor Sec Corp Com Cer Ser 2003-C3), Mortgage Loan Purchase Agreement (Credit Suisse First Boston Mor Sec Corp Com Cer Ser 2003-C3)
ARD Loans. Each As of the Closing Date, each ARD Loan requires scheduled monthly payments of principal and/or interestprincipal. If any ARD Loan is not paid in full by its Anticipated Repayment Date, and assuming it is not otherwise in default, (i) the rate at which such ARD Loan accrues interest will increase by at least two to the sum of the original Mortgage Rate and a specified margin (2) percentage points and (ii) such margin, the related Mortgagor is required to enter into a lockbox arrangement on the ARD Loan whereby all revenue from the related Mortgaged Property shall be deposited directly into a designated account controlled by the applicable servicer"Additional Interest Rate").
Appears in 5 contracts
Sources: Mortgage Loan Purchase Agreement (Prudential Securities Sec Fin Corp Mor Pas THR Cer 2001-C1), Pooling and Servicing Agreement (Greenwich Capital Commercial Funding Corp), Mortgage Loan Purchase and Sale Agreement (Banc of America Commercial Mort Pass THR Certs Ser 2002-Pb2)
ARD Loans. Each ARD Loan requires scheduled monthly payments of principal and/or interestprincipal. If any ARD Loan is not paid in full by its Anticipated Repayment Date, and assuming it is not otherwise in default, (i) the rate at which such ARD Loan accrues interest will increase by at least two (2) percentage points to the sum of the original Mortgage Rate and (ii) the related Mortgagor is required to enter into a lockbox arrangement on the ARD Loan whereby all revenue from the related Mortgaged Property shall be deposited directly into a designated account controlled by the applicable servicerspecified margin.
Appears in 2 contracts
Sources: Mortgage Loan Purchase Agreement (Credit Suisse First Boston Mortgage Securities Corp), Mortgage Loan Purchase Agreement (Credit Suisse First Boston Mortgage Securities Corp)
ARD Loans. Each Except as otherwise described on Schedule C-38, As of the Closing Date, each ARD Loan requires scheduled monthly payments of principal and/or interestprincipal. If any ARD Loan is not paid in full by its Anticipated Repayment Date, and assuming it is not otherwise in default, (i) the rate at which such ARD Loan accrues interest will increase by at least two to the sum of the original Mortgage Rate and a specified margin (2) percentage points and (ii) such margin, the related Mortgagor is required to enter into a lockbox arrangement on the ARD Loan whereby all revenue from the related Mortgaged Property shall be deposited directly into a designated account controlled by the applicable servicer"Additional Interest Rate").
Appears in 1 contract
Sources: Mortgage Loan Purchase Agreement (Commercial Mortgage Pass Through Ser 2001-Ck3)
ARD Loans. Each ARD Loan requires scheduled monthly payments of principal and/or interest. If principal; if any ARD Loan is not paid in full by its Anticipated Repayment Date, and assuming that it is not otherwise in default, (i) the rate at which such ARD Mortgage Loan accrues interest will increase by at least two (2) percentage points to the sum of the original Mortgage Rate and (ii) a specified margin; and after the related Mortgagor is required to enter into a lockbox arrangement on Anticipated Repayment Date, the ARD Loan whereby all revenue from the related Mortgaged Property shall be deposited directly into a designated account controlled Documents provide that excess cash flow after payment of expenses, including scheduled interest and capital expenditures approved by the applicable servicerlender, will be used to repay principal.
Appears in 1 contract
Sources: Mortgage Loan Purchase and Sale Agreement (Banc of America Commercial Mortgage Inc., Series 2006-6)