Credit Lease Loan definition

Credit Lease Loan. Each Mortgage Loan that is identified as a "Credit Lease Loan" on the Mortgage Loan Schedule.
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Credit Lease Loan. Any of the Mortgage Loans acquired by the Depositor pursuant to the CLF/NationsLink Mortgage Loan Purchase and Sale Agreement. The Credit Lease Loans are identified as such on the Mortgage Loan Schedule under the heading "Loan Seller".
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Examples of Credit Lease Loan in a sentence

  • The Master Servicer will inspect or cause the inspection of each Mortgaged Property securing a Credit Lease Loan once every three (3) calendar years if the related Credit Tenant (or guarantor) has a published rating of not less than BBB-, every two (2) years if the related Credit Tenant (or guarantor) has a published rating between BB+ and BB-, and annually if the related Credit Tenant has a published rating of less than BB-.

  • Immediately prior to the transfer thereof by Representing Party to the Depositor, the Representing Party had good and marketable title to, and was the sole owner and holder of, such Credit Lease Loan, free and clear of any and all liens, encumbrances and other interests on, in or to such Credit Lease Loan.

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  • On each Determination Date, the Master Servicer shall deliver to the Trustee and the Rating Agencies a report stating with respect to each Credit Lease Loan as of a date no earlier than three Business Days prior to such Determination Date: (i) all publicly available ratings of Xxxxx'x and S&P for the related Rated Party as of the Closing Date, the Determination Date in the previous month (if any) and the date of such report; and (ii) whether the related Rated Party has been placed on a "credit watch".

  • Neither the Representing Party nor any prior holder of any Credit Lease Loan has satisfied, canceled, rescinded or subordinated the Credit Lease Loan in whole or in part, released the Mortgaged Property in whole or in part from the lien of the Mortgage or executed any instrument that would effect any such satisfaction, cancellation, rescission, subordination or release.

  • In addition, except in the case of a Credit Lease Loan that permits the related Tenant to self-insure, the Mortgage requires the Mortgagor to maintain in respect of the Mortgaged Property comprehensive general liability insurance in amounts generally required by the Seller, and at least six months rental or business interruption insurance, and all such insurance required by the Mortgage to be maintained is in full force and effect.

  • The Mortgage contains a "due on sale" clause that provides for the acceleration of the payment of the unpaid principal balance of the Credit Lease Loan if, without the prior written consent of the holder (except in certain limited intra-family transfers or certain transfers of less than 49% of the ultimate beneficial ownership of the Mortgagor), the Mortgaged Property subject to the Mortgage, or any interest therein, is directly or indirectly transferred or sold.

  • Within 30 days after the Closing Date, the Master Servicer shall notify the insurer under any Lease Enhancement Policy and/or Residual Value Insurance Policy for any Credit Lease Loan that (i) both the Master Servicer and the Special Servicer shall be sent notices under each such policy and (ii) the Trustee for the benefit of the Certificateholders shall be the loss payee under each such policy.

  • The Master Servicer shall notify the Special Servicer of any Credit Lease Loan in respect of which it has made Servicing Advances pursuant to this SECTION 3.25.

  • The proceeds of each Credit Lease Loan have been fully disbursed (except in those cases where the full amount of the Credit Lease Loan has been funded but a portion thereof is being held in escrow pending the satisfaction of certain criteria), and there is no obligation for future advances with respect thereto.

Related to Credit Lease Loan

  • Revolving Line of Credit means the Commitments of the Lenders to make Revolving Loans pursuant to Section 3 of this Financing Agreement and assist the Companies in opening Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway Releases pursuant to Section 5 of this Financing Agreement, in an aggregate amount equal to $250,000,000.

  • Revolving Facility Loan means a Loan made by a Revolving Facility Lender pursuant to Section 2.01(b). Unless the context otherwise requires, the term “Revolving Facility Loans” shall include the Other Revolving Loans.

  • Letter of Credit Liability means the sum of (x) aggregate amount of the undrawn stated amount of all outstanding Letters of Credit plus (y) the amount drawn under Letters of Credit for which the Letter of Credit Issuer and the Lenders, or any one or more of them, have not yet received payment or reimbursement (in the form of a conversion of such liability to Loans, or otherwise) as required pursuant to Section 2.8.

  • Revolving Loan Agreement means that certain Revolving Credit and Security Credit Agreement dated as of the Closing Date by and among Revolving Loan Agent, the Revolving Loan Lenders and the Loan Parties, as amended, restated or otherwise modified from time to time to the extent not prohibited by the Intercreditor Agreement.

  • Letter of Credit Advance means an advance made by the Issuing Bank or any Revolving Credit Lender pursuant to Section 2.03(c).

  • Letter of Credit Liabilities means, for any Bank and at any time, such Bank's ratable participation in the sum of (x) the amounts then owing by the Borrower in respect of amounts drawn under Letters of Credit and (y) the aggregate amount then available for drawing under all Letters of Credit.

  • Revolving Credit Lender means, at any time, any Lender that has a Revolving Credit Commitment at such time.

  • Revolving Loan Note means a promissory note in the form of Exhibit 2.5-1, as it may be amended, supplemented or otherwise modified from time to time.

  • Facility Letter of Credit Obligations means, as at the time of determination thereof, all liabilities, whether actual or contingent, of the Borrower with respect to Facility Letters of Credit, including the sum of (a) the Reimbursement Obligations and (b) the aggregate undrawn face amount of the then outstanding Facility Letters of Credit.

  • Letter of Credit Obligation means, as of any date of determination, the aggregate amount available to be drawn under all outstanding Letters of Credit on such date (if any Letter of Credit shall increase in amount automatically in the future, such aggregate amount available to be drawn shall currently give effect to any such future increase) plus the aggregate Reimbursement Obligations and Letter of Credit Borrowings on such date.

  • Revolving Loan Obligations means any Obligations with respect to the Revolving Loans (including without limitation, the principal thereof, the interest thereon, and the fees and expenses specifically related thereto).

  • Letter of Credit Obligations means all outstanding obligations incurred by Agent and Lenders at the request of Borrower, whether direct or indirect, contingent or otherwise, due or not due, in connection with the issuance of Letters of Credit by Agent or another L/C Issuer or the purchase of a participation as set forth in Annex B with respect to any Letter of Credit. The amount of such Letter of Credit Obligations shall equal the maximum amount that may be payable by Agent or Lenders thereupon or pursuant thereto.

  • Letter of Credit Payment means any amount paid or required to be paid by the Issuing Lender in its capacity hereunder as issuer of a Letter of Credit as a result of a draft or other demand for payment under any Letter of Credit.

  • Letter of Credit Maturity Date the date occurring 15 days prior to the Revolving Termination Date then in effect (or, if such day is not a Business Day, the next preceding Business Day).

  • Extending Revolving Credit Lender has the meaning set forth in Section 2.16(c).

  • Revolving Loan Commitment means the commitment of a Revolving Lender to make Revolving Loans to Company pursuant to subsection 2.1A(ii), and “Revolving Loan Commitments” means such commitments of all Revolving Lenders in the aggregate.

  • Letter of Credit Facility means, at any time, an amount equal to the amount of the Issuing Bank’s Letter of Credit Commitment at such time, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Letter of Credit Limit means $5,000,000.

  • Letter of Credit Commitment means, with respect to any Issuing Bank at any time, the amount set forth opposite such Issuing Bank’s name on Schedule I hereto under the caption “Letter of Credit Commitment” or, if such Issuing Bank has entered into one or more Assignment and Acceptances, set forth for such Issuing Bank in the Register maintained by the Administrative Agent pursuant to Section 9.07(d) as such Issuing Bank’s “Letter of Credit Commitment”, as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • Revolving Loan Account has the meaning described in Section 2.1.9 (Revolving Loan Account).

  • Required Revolving Credit Lenders means, at any date, Non-Defaulting Lenders holding a majority of the Adjusted Total Revolving Credit Commitment at such date (or, if the Total Revolving Credit Commitment has been terminated at such time, a majority of the Revolving Credit Exposure (excluding Revolving Credit Exposure of Defaulting Lenders) at such time).

  • Revolving Letter of Credit means a letter of credit issued by a Revolving Fronting Bank pursuant to Section 2.03(a) and shall also include each Existing Letter of Credit.

  • Letter of Credit Account means the account established by the Borrower under the sole and exclusive control of the Agent maintained at the office of the Agent at 000 Xxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000 designated as the "Family Golf Centers, Inc. Letter of Credit Account" that shall be used solely for the purposes set forth in Sections 2.02(b) and 2.10(a) and (c).

  • Incremental Revolving Credit Lender means a Lender with an Incremental Revolving Credit Commitment or an outstanding revolving loan under the Credit Agreement of any class as a result of an Incremental Revolving Credit Commitment.

  • Revolver Loan a loan made pursuant to Section 2.1, and any Swingline Loan, Overadvance Loan or Protective Advance.

  • Line of Credit mean the credit facility described in the Section titled "LINE OF CREDIT" below.