Common use of No Material Default; Payment Record Clause in Contracts

No Material Default; Payment Record. As of the Closing Date, the Underlying Loan has not been more than 30 days delinquent, without giving effect to any grace or cure period, in making required debt service payments since origination, and as of the date hereof, the Underlying Loan is not more than 30 days delinquent (beyond any applicable grace or cure period) in making required payments. To the Knowledge of Borrower, as of the Closing Date, there is (a) no material default, breach, violation or event of acceleration existing under the Underlying Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Underlying Loan or the value, use or operation of the Mortgaged Property. No person other than the holder of the Underlying Loan may declare any event of default under the Underlying Loan or accelerate any indebtedness under the Underlying Loan Documents.

No Material Default; Payment Record. As of the Closing Date, the Underlying No Commercial Mortgage Loan has not been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required debt service payments since origination, and as of the date hereof, the Underlying no Commercial Mortgage Loan is not more than 30 thirty (30) days delinquent (beyond any applicable grace or cure period) in making required paymentspayments as of the Purchase Date. To the Knowledge of Borrower, as of the Closing DateSeller’s knowledge, there is (a) no material default, breach, violation or event of acceleration existing under the Underlying related Commercial Mortgage Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Underlying Commercial Mortgage Loan or the value, use or operation of the related Mortgaged Property. No person other than the holder of the Underlying such Commercial Mortgage Loan may declare any event of default under the Underlying Commercial Mortgage Loan or accelerate any indebtedness under the Underlying Commercial Mortgage Loan Documents.

No Material Default; Payment Record. As of the Closing Date, the Underlying No Commercial Mortgage Loan has not been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required debt service payments since origination, and as of the date hereof, the Underlying no Commercial Mortgage Loan is not more than 30 thirty (30) days delinquent (beyond any applicable grace or cure period) in making required paymentspayments as of the Purchase Date. To the Knowledge of Borrower, as of the Closing DateSeller’s knowledge, there is (a) no material default, breach, violation or event of acceleration existing under the Underlying related Commercial Mortgage Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Underlying Commercial Mortgage Loan or the value, use or operation of the related Mortgaged Property. No person other than the holder of the Underlying such Commercial Mortgage Loan may declare any event of default under the Underlying Commercial Mortgage Loan or accelerate any indebtedness under the Underlying Commercial Mortgage Loan Documentsdocuments.

No Material Default; Payment Record. As of the Closing Date, the Underlying The Mortgage Loan has not been more than 30 days delinquent, without giving effect to any grace or cure period, in making required debt service payments since origination, and as of the date hereof, the Underlying Mortgage Loan is not more than 30 days delinquent (beyond any applicable grace or cure period) in making required payments. To the Knowledge of Borrower, payments as of the Closing Date. To the Seller’s knowledge, there is (a) no material default, breach, violation or event of acceleration existing under the Underlying Loanrelated Mortgage Loan or Co-Lender Agreement, if applicable, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Underlying Mortgage Loan or B Note Loan, if applicable, or the value, use or operation of the related Mortgaged Property. No person other than the holder of the Underlying such Mortgage Loan may declare any event of default under the Underlying Mortgage Loan or accelerate any indebtedness under the Underlying Loan Documents.

No Material Default; Payment Record. As of the Closing Date, the Underlying No Purchased Loan has not been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required debt service payments since origination, and as of the date hereof, the Underlying no Purchased Loan is not more than 30 thirty (30) days delinquent (beyond any applicable grace or cure period) in making required paymentspayments as of the Purchase Date. To the Knowledge of Borrower, as of the Closing DateSeller’s knowledge, there is (a) no material default, breach, violation or event of acceleration existing under the Underlying related Purchased Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Underlying Purchased Loan or the value, use or operation of the related Mortgaged Property. No person other than the holder of the Underlying such Purchased Loan may declare any event of default under the Underlying Purchased Loan or accelerate any indebtedness under the Underlying Purchased Loan Documents.

No Material Default; Payment Record. As of the Closing Purchase Date, the Underlying no Purchased Loan has not been more than 30 days delinquent, without giving effect to any grace or cure period, in making required debt service payments since origination, and as of the date hereof, the Underlying no Purchased Loan is not more than 30 days delinquent (beyond any applicable grace or cure period) in making required payments. To the Knowledge of Borrower, payments as of the Closing Purchase Date. As of the Purchase Date, to the Seller’s Knowledge, there is (a) no material default, breach, violation or event of acceleration existing under the Underlying related Purchased Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Underlying Purchased Loan or the value, use or operation of the Mortgaged related Property. No person other than the holder of the Underlying such Purchased Loan may declare any event of default under the Underlying Purchased Loan or accelerate any indebtedness under the Underlying Purchased Loan Documents.

No Material Default; Payment Record. As of the Closing Date, the Underlying No Commercial Mortgage Loan has not been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required debt service payments since origination, and as of the date hereof, the Underlying no Commercial Mortgage Loan is not more than 30 thirty (30) days delinquent (beyond any applicable grace or cure period) in making required paymentspayments as of the Purchase Date. To the Knowledge of Borrower, as of the Closing DateSeller’s knowledge, there is (a) no material default, breach, violation or event of acceleration existing under the Underlying related Commercial Mortgage Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Underlying Commercial Mortgage Loan or the value, use or operation of the related Mortgaged Property. No person other than the holder of the Underlying such Commercial Mortgage Loan may declare any event of default under the Underlying Commercial Mortgage Loan or accelerate any indebtedness under the Underlying Commercial Mortgage Loan Documents.