Defaulted Loan definition

Defaulted Loan shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement

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Defaulted Loan means “Specially Serviced Mortgage Loan” as defined in the Lead Securitization Servicing Agreement.

Defaulted Loan. A Serviced Loan (i) that 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 or (ii) as to which the Master Servicer or Special Servicer has, by written notice to the related Mortgagor, accelerated the maturity of the indebtedness evidenced by the related Note.

Examples of Defaulted Loan in a sentence

In the absence of a cash offer at least equal to the Purchase Price, the Special Servicer may purchase the Defaulted Loan for the Purchase Price or may accept the first cash offer received from any Person that constitutes a fair price for the Defaulted Loan.
In determining whether any offer received from an Interested Person represents a fair price for any such Defaulted Loan, the Trustee shall rely on the most recent Appraisal (or update of such Appraisal) of the related Mortgaged Property conducted in accordance with this Agreement within the preceding nine-month period or, in the absence of any such Appraisal, on a new Appraisal.
In the absence of a cash offer at least equal to the Purchase Price, the Special Servicer may purchase the Defaulted Loan for the Purchase Price (provided that it gives at least ten (10) Business Days’ prior written notice of its intention to purchase such Defaulted Loan to the Directing Certificateholder and there is no higher offer within such time) or may accept the first cash offer received from any Person that constitutes a fair price for the Defaulted Loan.
In determining whether any offer from a Person other than an Interested Person constitutes a fair price for any Defaulted Loan, the Special Servicer shall take into account (in addition to the results of any Appraisal, updated Appraisal or narrative appraisal that it may have obtained pursuant to this Agreement within the prior nine (9) months), among other factors, the period and amount of the occupancy level and physical condition of the related Mortgaged Property and the state of the local economy.
In determining whether any cash offer from a Person other than an Interested Person constitutes a fair price for any Defaulted Loan, the Special Servicer shall take into account (in addition to the results of any Appraisal, updated Appraisal or narrative appraisal that it may have obtained pursuant to this Agreement within the prior 9 months), among other factors, the period and amount of the occupancy level and physical condition of the related Mortgaged Property and the state of the local economy.

More Definitions of Defaulted Loan

Defaulted Loan means any Collateral Loan as to which:

Defaulted Loan as defined in Section 2.22.

Defaulted Loan as defined in Section 2.18.

Defaulted Loan. As of any Determination Date, any Loan for which any payment of principal of or interest on such Loan is more than 89 days past due, determined without giving effect to any grace period permitted by the related Mortgage or Mortgage Note or any other document in the Mortgage File.

Defaulted Loan shall have the meaning assigned to such term in Section 2.16(c).

Defaulted Loan shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.

Defaulted Loan means any Loan that a Defaulting Lender has failed to make.