Definition of B Note


B Note means, with respect to any A/B Whole Loan, any related subordinated note not included in the Trust, which is subordinated in right of payment to the related A Note to the extent set forth in the related Intercreditor Agreement. There are no B Notes related to the Trust as of the Closing Date.


B Note means the original promissory note, if any, that was executed and delivered in connection with the subordinate portion of a Senior Mortgage Loan.

Examples of B Note in a sentence

In no event shall the Trust or the Trustee, the Master Servicer or the Special Servicer on the Trustee’s behalf purchase, or pay or advance costs to purchase, any B Note or Serviced Companion Loan.
In connection with its activities as administrator and servicer of the Mortgage Loans, any Serviced Companion Loan and any B Note, the Special Servicer agrees to present, on its behalf and on behalf of the Trustee, claims under any such master force placed or blanket insurance policy.
Such Person or Persons shall acknowledge in writing that such action is being taken by the Special Servicer in the name of the Trust (or holder of a B Note or the Serviced Companion Loan, if applicable).
Upon the sale of the A Note relating to an A/B Whole Loan by the Trust or the payment in full of such A Note, the related B Note shall no longer be subject to this Agreement and shall no longer be serviced by the Master Servicer or the Special Servicer.
The Class B Note Principal Balance at the close of business on such Distribution Date (after giving effect to all payments and adjustments on such Distribution Date) will be equal to.



More definitions of B Note

B Note means (i) with respect to any A/B Whole Loan, any related subordinated note not included in the Trust, which is subordinated in right of payment to the related A Note to the extent set forth in the related Intercreditor Agreement, (ii) the Hilton Garden Inn W 54th Street B Note and (iii) the promissory notes (individually or collectively, as the context may require) comprising the US StorageMart Portfolio B Note. The only B Notes related to any Mortgage Loans included in the Trust on the Closing Date are (i) the Hilton Garden Inn W 54th Street B Note and (ii) the promissory notes comprising the US StorageMart Portfolio B Note (individually or collectively, as the context may require).


B Note means, each of the Note B-1 and Note B-2.

B Note means a promissory note of the Borrower payable to the order of any Lender, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of the Borrower to such Lender resulting from a B Advance made by such Lender.

B Note means (i) with respect to any A/B Whole Loan or Loan Pair, any related subordinated note not included in the Trust, which is subordinated in right of payment to the related A Note to the extent set forth in the related Intercreditor Agreement and (ii) the promissory note comprising the Charles River Plaza North B Note. The only B Note related to any Mortgage Loans included in the Trust on the Closing Date is the promissory note comprising the Charles River Plaza North B Note.

B Note means each of Note B-1-1, Note B-1-2, Note B-1-3, Note B-1-4, Note B-1-5, Note B-2-1, Note B-2-2, Note B-2-3, Note B-2-4 and Note B-2-5.

B Note means a promissory note of a Borrower payable to the order of any Bank, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of such Borrower to such Bank resulting from a B Advance made by such Bank.

B Note means a promissory note of the Company, substantially in the form of Exhibit C hereto, payable to the order of a Lender and evidencing such Lender's Loans.