Asset Status Report definition
Examples of Asset Status Report in a sentence
Prior to a Control Termination Event, the Special Servicer shall deliver each Final Asset Status Report to the Operating Advisor promptly following the Directing Certificateholder Approval Process.
A summary of each Final Asset Status Report shall be provided to the Certificate Administrator and the Trustee.
Notwithstanding the consultation rights of the related Serviced Pari Passu Companion Loan Holder set forth in the immediately preceding sentence, the Special Servicer may make any Major Decision or take any action set forth in the Asset Status Report before the expiration of the aforementioned ten (10) Business Day period if the Special Servicer determines that immediate action with respect thereto is necessary to protect the interests of the Certificateholders and the related Companion Holder.
The Special Servicer may, from time to time, modify any Asset Status Report it has previously delivered and implement such report; provided that such report shall have been prepared, reviewed and not rejected pursuant to the terms of this Section 3.19(d).