CTL Loan definition
CTL Loan means a performing Whole Loan secured by a first priority perfected security interest in Commercial Real Estate 100% leased under a Credit Tenant Lease to, or guaranteed in full by, a Credit Tenant and all payments due under such Credit Tenant Lease, and such CTL Loan satisfies such additional underwriting criteria and other terms, conditions and requirements as the Administrative Agent may require in its discretion.
CTL Loan means a Mortgage Loan that is secured by a Mortgaged Property that is the subject of a Credit Tenant Lease, and which is identified as a "Credit Lease Loan" on the Mortgage Loan Schedule.
Examples of CTL Loan in a sentence
The Master Servicer shall notify the Special Servicer of any CTL Loan in respect of which it has made Servicing Advances pursuant to this Section 3.24.
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 CTL 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.