CMBS Financing definition

CMBS Financing any loans or notes incurred by or issued to certain Excluded Subsidiaries of the Borrower as borrowers under commercial mortgage-backed securities financing transactions from time to time.

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CMBS Financing means financings of any Consolidated Party that are secured by commercial real property and/or loan interests and securitized by the lenders thereunder.

CMBS Financing means (i) the $227 million Loan Agreement, dated March 30, 2017, among certain Subsidiaries of the Borrower and Barclays Bank PLC, JPMorgan Chase Bank, National Association and Bank of America, N.A., as the same may be amended from time to time, together with the related “Loan Documents,” as such term is defined in such Loan Agreement and (ii) other similar financings of the Borrower that are secured by commercial real property and loan interests and securitized by the lenders thereof.

Examples of CMBS Financing in a sentence

• Subject in all respects to the terms and conditions set forth in the CMBS Financing Documents and the Operating Leases, Manager shall have, and Tenant shall cause Manager to have, authority to access and direct all funds then on deposit in the Collection Account and/or the Cash Management Account (as defined in the Mortgage Loan Agreement) (which may constitute “Operating Accounts” hereunder).

• Subject in all respects to the terms and conditions of the Operating Leases and the CMBS Financing Documents, Manager shall have operational authority (including signatory authority) over Tenant’s existing bank accounts (the “Bank Accounts”), which Bank Accounts shall be in the name of Tenant, doing business as “[ ]”, shall be owned by Tenant and shall use the taxpayer identification number of Tenant.

• Subject to the terms and conditions set forth in the CMBS Financing Documents, Manager shall have the authority to cause the disbursement of funds on deposit in the Operating Account in connection with Manager’s management and operation of the Resort as set forth herein.

• Subject in all respects to the terms and conditions of the Operating Leases and the CMBS Financing Documents, Manager’s designees shall be the only Persons authorized to draw funds from the Bank Accounts, and Manager shall be entitled to make deposits in all of the Bank Accounts in accordance with this Agreement and Manager’s standard accounting policies and practices for substantially all of the Other Managed Resorts.

• Landlord shall be permitted to collaterally assign its rights under this Agreement pursuant to the CMBS Financing Documents.

• The Borrower and its Subsidiaries shall have received gross proceeds of at least $270,000,000 from the CMBS Financing pursuant to documentation reasonably satisfactory to the Administrative Agent.

• CMBS Financing – all mortgage and mezzanine loans or related financings that directly or indirectly encumber the respective assets of, and/or direct or indirect equity interests in, the CMBS Properties.

• CMBS Financing Documents – all loan agreements, promissory notes, mortgages, deeds of trust, security agreement and other documents and instruments (including all amendments, modifications, side letter and similar ancillary agreements) relating to the CMBS Financing.

More Definitions of CMBS Financing

CMBS Financing means the financing, which is anticipated to close on or before November 30, 1999, pursuant to which the Northbrook Court Owner, the Alderwood Mall Owner and Carolina Place Owner and certain subsidiaries of GGP/Homart will issue collateralized mortgage-backed securities.

CMBS Financing as defined in the recitals.

CMBS Financing means financings of the Borrower that are secured by commercial real property and/or loan interests and securitized by the lenders thereunder. “Code” means the Internal Revenue Code of 1986. “Collateral” means all of the “Collateral” and “Mortgaged Property” or other similar term referred to in the Collateral Documents that is required under the terms of the Loan Documents to be subject to Liens in favor of the Administrative Agent for the benefit of the Secured Parties, including any property subject to the BankNote Property Mortgage and all proceeds thereof. “Collateral Documents” means the Pledge Agreement, the BankNote Property Mortgage, pledge agreement supplements or other similar agreements delivered to the Administrative Agent pursuant to Section 6.12, and each of the other agreements, instruments or documents that creates or perfects or purports to create or perfect a Lien in the Collateral in favor of the Administrative Agent for the benefit of the Secured Parties to secure the obligations and liabilities of the Borrower or any other Loan Party under any Loan Document or providing rights and remedies in respect of the Collateral. “Commitment” means, as to each Lender, its obligation to (a) make Loans to the Borrower pursuant to Section 2.01, and (b) purchase participations in L/C Obligations, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption or New Lender Joinder Agreement pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. 10

CMBS Financing or “CMBS Debt” means the $6.5 billion in debt raised by the CMBS PropCos through the $4 billion CMBS Loan Agreement with JP Morgan Chase Bank, N.A., and

CMBS Financing means financings of any Consolidated Party that are secured by commercial real property and/or loan interests and securitized by the lenders thereunder. “CME Term SOFR Administrator” means CME Group Benchmark Administration Limited as administrator of the forward-looking term Secured Overnight Financing Rate (SOFR) (or a successor administrator). “Code” means the Internal Revenue Code of 1986, as amended from time to time. “Commitment” means, as to each Lender, its obligation to (a) make Loans to the Borrower pursuant to Section 2.01, and (b) purchase participations in L/C Obligations, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption or New Lender Joinder Agreement pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. “Compliance Certificate” means a certificate substantially in the form of Exhibit D duly executed by the chief executive officer, chief financial officer, treasurer, chief accounting officer or controller of the Guarantor. “Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by net income (however denominated) or that are franchise Taxes or branch profits Taxes. “Consolidated EBITDA” means, for the Consolidated Group and for any period, an amount equal to Consolidated Net Income for such period plus (a) the following, except with respect to clauses (a)(vi), (a)(ix), and (a)(x), to the extent deducted or excluded in calculating Consolidated Net Income and without duplication: (i) cash Interest Expense for such period; (ii) the provision for federal, state, local and foreign income taxes payable by the Consolidated Group for such period; (iii) depreciation and amortization expense incurred during such period; (iv) all non-cash items decreasing Consolidated Net Income for such period; (v) all non-recurring or unusual charges, expenses or losses; (vi) Percentage Rent for the four consecutive fiscal quarters of the Consolidated Parties most recently ended for which financial statements have been delivered under Section 6.01(a) or (b); 10