Defeasance Period definition

Defeasance Period is defined in the Note, if applicable.

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Defeasance Period is the period beginning the day after the Defeasance Date until but not including the first day of the Window Period. The Defeasance Period only applies if this Note is assigned to a REMIC trust prior to the Cut-off Date.

Defeasance Period means the period beginning on the earliest permitted date determined under Section 3.10(d)(l) and ending on the 90th day before the Stated Maturity Date.

Examples of Defeasance Period in a sentence

• Lockout Period and During the Defeasance Period (Section Applies if Loan is Assigned to REMIC Trust Prior to the Cut-off Date).

• During the Defeasance Period, Borrower will have the right to partially defease the Loan in the amount of any part of a “Defeasance Release Price” allocated to the Loan subject to the provisions of Section 44.

• No Yield Maintenance Payment shall be required in connection with prepayments made on or after the last day of the Defeasance Period.

• Period and During the Defeasance Period, and During the Period Following the Defeasance Period Expiration Date (Section Applies if Loan is Assigned to REMIC Trust Prior to the Cut-off Date).

• Notwithstanding the foregoing, if as a result of a change in Applicable Law material structural changes are required to be made to the Property, then Borrower shall have the right at any time during the Defeasance Period to partially defease the Loan and obtain a release of the Property from the lien of this Deed of Trust pursuant to Section 1.03(d)-(f) of the Note.

More Definitions of Defeasance Period

Defeasance Period has the meaning set forth in the Loan Agreement.

Defeasance Period means the period of time commencing on the date which is the earlier to occur of (i) two (2) years after the “startup day”, within the meaning of Section 860G(a)(9) of Code (such day, the “Startup Day”), of the REMIC that holds this Note (the “Trust”) and (ii) four (4) years after the date hereof, and ending on the expiration of the Lockout Period.

Defeasance Period means the period commencing on (and including) the date of the deposit, if any, to be made into the Note Principal Funding Account and the Noteholder Reserve Account pursuant to Section 2.9 and ending on the Series 2008-1 Termination Date.

Defeasance Period is the period beginning the day after the Defeasance Date until but not including the first day of the Window Period. If the Loan has a Fixed Interest Rate, the Prepayment Structure is Defeasance, and the Note is not assigned to a REMIC trust, or it is assigned to a REMIC trust on or after the Cut-off Date, then the above terms are not applicable.

Defeasance Period is defined in 11.12(c).

Defeasance Period means the period of time: (1) commencing on the date which is the later to occur of: (A) two years after the “start-up day”, within the meaning of Section 860(G)(a)(9) of the Code, of the REMIC that holds this Note; and (B) three (3) years after the date of the first regularly scheduled monthly payment due hereunder, and (2) ending on the Early Payment Date. The “Rating Agencies” shall mean, collectively, Standard & Poor’s Ratings Service, a division of The McGraw Hill Companies, Inc., Fitch IBCA, Inc., ▇▇▇▇▇’▇ Investors Service, Inc. or Duff and ▇▇▇▇▇▇ Credit Rating Co., and their respective successors and assigns, to the extent each of the foregoing performed credit rating services for the REMIC or other securitization vehicle which owns this Note.

Defeasance Period means the period of time: (1) commencing on the date which is the later to occur of: (A) two (2) years after the “start-up day,” within the meaning of Section 860(G)(a)(9) of the Code, of the REMIC that holds this Note; and (B) three (3) years after the date of the first regularly scheduled monthly payment due hereunder, and (2) ending on the Early Payment Date. The “Rating Agencies” shall mean, collectively, Standard & Poor’s Ratings Services, Moody’s Investors Service, Inc., Fitch IBCA, Inc., and their respective successors and assigns, to the extent each of the foregoing performed credit rating services for the REMIC or other securitization vehicle which owns this Note.