Hospitality Provisions. The Purchased Asset Documents for each Purchased Asset that is secured by a hospitality property operated pursuant to a franchise agreement includes an executed comfort letter or similar agreement signed by the Mortgagor and franchisor of such property enforceable against such franchisor, either directly or as an assignee of the originator. The Mortgage or related security agreement for each Purchased Asset secured by a hospitality property creates a security interest in the revenues of such property for which a UCC financing statement has been filed in the appropriate filing office.
Appears in 18 contracts
Samples: Custodial Agreement (Claros Mortgage Trust, Inc.), Securities Contract Agreement (Terra Property Trust, Inc.), Bailee Agreement (FS Credit Real Estate Income Trust, Inc.)
Hospitality Provisions. The Purchased Asset Documents for each Purchased Asset that for which the underlying Mortgage Loan is secured by a hospitality property operated pursuant to a franchise agreement includes an executed comfort letter or similar agreement signed by the Mortgagor and franchisor of such property enforceable against such franchisor, either directly or as an assignee of the originator. The Mortgage or related security agreement for each Purchased Asset secured by a hospitality property creates a security interest in the revenues of such property for which a UCC financing statement has been filed in the appropriate filing office.
Appears in 6 contracts
Samples: Bailee Agreement (ACRES Commercial Realty Corp.), Master Repurchase and Securities Contract Agreement (Colony NorthStar Credit Real Estate, Inc.), Master Repurchase and Securities Contract Agreement (KKR Real Estate Finance Trust Inc.)
