Defeasance Costs. If any Mortgage Loan permits defeasance, then the related Mortgage Loan documents provide that the related Borrower is responsible for the payment of all reasonable costs and expenses incurred by the related mortgagee.
Defeasance Costs. If the Mortgage Loan permits defeasance, then the mortgage loan documents related to such Mortgage Loan require (a) the borrower to pay all rating agency fees associated with defeasance and all other out-of-pocket expenses associated with defeasance such as accountant's fees and opinions of counsel, or (b) that the borrower provide a REMIC opinion, an opinion regarding the first priority perfected security interest in the defeasance collateral, rating agency letters certifying no rating qualification or downgrade on any securities, and accountant certification that all payments from the defeasance collateral are sufficient to make monthly principal and interest payments on such Mortgage Loan through maturity.
Defeasance Costs. If the Mortgage Loan permits defeasance, then the mortgage loan documents related to such Mortgage Loan require (a) the borrower to pay all rating agency fees associated with defeasance and all other out-of-pocket expenses associated with defeasance such as accountant's fees and opinions of counsel, or (b) that the borrower provide a REMIC opinion, an opinion regarding the first priority perfected security interest in the defeasance collateral, rating agency letters certifying no rating qualification or downgrade on any securities, and accountant certification that all payments from the defeasance collateral are sufficient to make monthly principal and interest payments on such Mortgage Loan through maturity. It is understood and agreed that the representations and warranties set forth in this Exhibit C shall survive delivery of the respective Mortgage Files to the Purchaser and/or the Trustee and shall inure to the benefit of the Purchaser, and its successors and assigns (including without limitation the Trustee and the holders of the Certificates), notwithstanding any restrictive or qualified endorsement or assignment. SCHEDULE C-1 to EXHIBIT C EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES
Defeasance Costs. If the Mortgage Loan permits defeasance, then the mortgage loan documents related to such Mortgage Loan require (a) the borrower to pay all rating agency fees associated with defeasance and all other out-of-pocket expenses associated with defeasance such as accountant's fees and opinions of counsel, or (b) that the borrower provide a REMIC opinion, an opinion regarding the first priority perfected security interest in the defeasance collateral, rating agency letters certifying no rating qualification or downgrade on any securities, and accountant certification that all payments from the defeasance collateral are sufficient to make monthly principal and interest payments on such Mortgage Loan through maturity. It is understood and agreed that the representations and warranties set forth in this Exhibit C shall survive delivery of the respective Mortgage Files to the Purchaser and/or the Trustee and shall inure to the benefit of the Purchaser, and its successors and assigns (including without limitation the Trustee and the holders of the Certificates), notwithstanding any restrictive or qualified endorsement or assignment. SCHEDULE C-1 to EXHIBIT C EXCEPTIONS TO REPRESENTATIONS AND WARRANTIES NONE EXHIBIT D-1 FORM OF CERTIFICATE OF AN OFFICER OF THE SELLER Certificate of Officer of GMAC Commercial Mortgage Corporation ("GMACCM") I, ________________, a __________________ of GMACCM (the "Seller"), hereby certify as follows: The Seller is a corporation duly organized and validly existing under the laws of the State of California. Attached hereto as Exhibit I are true and correct copies of the Certificate of Incorporation and By-Laws of the Seller, which Certificate of Incorporation and By-Laws are on the date hereof, and have been at all times in full force and effect. To the best of my knowledge, no proceedings looking toward liquidation or dissolution of the Seller are pending or contemplated. Each person listed below is and has been the duly elected and qualified officer or authorized signatory of the Seller and his genuine signature is set forth opposite his name: Name Office Signature ---- ------ --------- Each person listed above who signed, either manually or by facsimile signature, the Mortgage Loan Purchase Agreement, dated as of March 8, 2000 (the "Purchase Agreement"), between the Seller and GMAC Commercial Mortgage Securities, Inc. providing for the purchase by GMAC Commercial Mortgage Securities, Inc. from the Seller of the Mortgage Loans, was, at ...
Defeasance Costs. The term “Defeasance Costs” shall mean all costs and fees incurred or payable in order to accomplish and complete the Defeasance (including but not limited to the Defeasance Fee, the Defeasance Collateral Cost, and all costs and fees of Lender).
Defeasance Costs. If any Mortgage Loan permits defeasance, then the related Mortgage Loan documents provide that the related Borrower is responsible for the payment of all reasonable costs and expenses incurred by the related mortgagee, including rating agency fees, accountant's fees and lender's attorney's fees and expenses, in connection with the defeasance of such Mortgage Loan. Schedule C-1 Tax Parcel Exceptions Schedule C-2 Servicing Rights Exceptions Property Name Servicer ------------- -------- Exhibit D-1 Certificate of an Officer of the Seller I, _________________________, hereby certify that I am a ____________________ of _______________, a _________________ Corporation (the "Seller"), and further certify as follows:
Defeasance Costs. The Company shall prepare a schedule setting forth an itemized list of any and all Defeasance Costs (the “Defeasance Costs Annex”), in a manner consistent with Annex 6 attached hereto
Defeasance Costs. At Closing, Defeasance Costs shall be allocated and paid as provided in Section 7(a) above.
Defeasance Costs. 1501 Green Road The loan agreement provides that the 0000-0000 NW 40th Court processing fee payable to lender for its 0000 X. Xxxxxline Road administrative costs is subject to a $5,000 cap.
Defeasance Costs. Loan No. 4 (Radisson Mart Plaza Hotel) - the representation is true and accurate except that the Borrower is not required to provide a REMIC opinion in connection with defeasance.
