Common use of Loans Secured by Real Property Clause in Contracts

Loans Secured by Real Property. Less than 40% of the Aggregate Outstanding Loan Balance of the Loan Pool as of the Initial Cut-Off Date consists of Loans principally secured by real property, and the Trust Depositor will not effectuate the transfer of a Substitute Loan if such transfer would cause more than 40% of the Aggregate Outstanding Loan Balance of the Loan Pool as of any Subsequent Transfer Date to consist of Loans principally secured by real property.

Loans Secured by Real Property. Less than 4045% of the Aggregate Outstanding Loan Balance of the Loan Pool as of the Initial Cut-Cut - Off Date consists of Loans principally secured by real property, and the Trust Depositor will not effectuate the transfer of a Substitute Loan if such transfer would cause more less than 4045% of the Aggregate Outstanding Loan Balance of the Loan Pool as of any each Subsequent Transfer Date to shall consist of Loans principally secured by real property.

Loans Secured by Real Property. Less than 40% of the Aggregate Outstanding Loan Balance of the Loan Pool Initial Loans as of the Initial Cut-Off Date consists of Loans principally secured by real property, and the Trust Depositor will not effectuate the transfer of an Additional Loan or a Substitute Loan if such transfer would cause more than 40% of the Aggregate Outstanding Loan Balance of the Loan Pool Loans included in the Collateral as of any Subsequent Transfer Cut-Off Date to consist of Loans principally secured by real property.

Loans Secured by Real Property. Less than 4045% of the Aggregate Outstanding Loan Balance of the Loan Pool as of the Initial Cut-—Off Date consists of Loans principally secured by real property, and the Trust Depositor will not effectuate the transfer of a Substitute Loan if such transfer would cause more than 4045% of the Aggregate Outstanding Loan Balance of the Loan Pool as of any Subsequent Transfer Date to consist of Loans principally secured by real property.