Defaulted A Loan definition

Defaulted A Loan shall (I) prior to the Lead Securitization Date, mean the A Notes collectively if (i) the Mortgage Loan is delinquent at least sixty days in respect of its Monthly Payments or delinquent in respect of its Balloon Payment, if any, in either case such delinquency to be determined without giving effect to any grace period permitted by the related Mortgage or Note and without regard to any acceleration of payments under the related Mortgage and Note, (ii) the Lead Master Servicer or Special Servicer has, by written notice to the related Mortgagor, accelerated the maturity of the indebtedness evidenced by the Notes, or (iii) 60 days after the related Mortgagor is subject to a bankruptcy, insolvency or similar proceedings, which, in the case of an involuntary bankruptcy, insolvency or similar proceeding, is not dismissed within those 60 days; and (II) after the Lead Securitization Date, shall have the meaning assigned to such term or another analogous term in the Lead Securitization Servicing Agreement.
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Examples of Defaulted A Loan in a sentence

  • No portion of the proceeds of a purchase of the Defaulted A Loan by the Note B Holder(s) shall be distributable to any Note B Holder in that capacity.

  • To the extent that amounts distributable to a Noteholder as described above constitute proceeds of the purchase of the Mortgage Loan by a mezzanine lender pursuant to an option granted under the related mezzanine intercreditor agreement or the proceeds of the purchase of the Defaulted A Loan by the Note B Holder pursuant to Section 12, such amounts shall be so distributable to the Person who was the applicable Noteholder immediately prior to such purchase.

  • The Defaulted A Loan Purchase Price shall be calculated by the Selling Noteholders (or the Servicer on their behalf) three (3) Business Days prior to the Defaulted A Loan Purchase Date (and such calculation shall be accompanied by a listing of all amounts included in the Defaulted A Loan Purchase Price and reasonably detailed back-up documentation explaining how such price was determined), and shall, absent manifest error, be binding upon the Purchasing Noteholder(s).

  • Company releases Issuer from and covenants and agrees that Issuer shall not be liable for, and agrees to indemnify and hold Issuer harmless against, any expense or liability incurred by Issuer, including attorneys' fees, resulting from any loss or damage to property or any injury to or death of any person occurring on or about or resulting from any defect in the Project or from any action commenced in connection with the financing thereof.

  • If the Note B Holders deliver an Extension Deposit in order to extend the Defaulted A Loan Purchase Date and purchase the Defaulted A Loan in accordance with this Section, such Extension Deposit shall be applied to the Defaulted A Loan Purchase Price at the closing of such purchase.

  • Concurrently with the payment to the Note A Holders in immediately available funds of their respective portions of the applicable Defaulted A Loan Purchase Price, the Note A Holders shall execute at the sole cost and expense of the Note B Holder in favor of the Note B Holder assignment documentation that will assign the A Notes and the Mortgage Loan Documents without recourse, representation or warranty.