Defeasance Period definition

Defeasance Period is defined in the Note, if applicable.

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 180th day before the Stated Maturity Date.

Examples of Defeasance Period in a sentence

• After the expiration of the Lockout Period and the Defeasance Period, Borrower may voluntarily prepay all of the unpaid principal balance of this Note on an Installment Due Date so long as Borrower designates the date for such prepayment in a Notice from Borrower to Lender given at least 30 days prior to the date of such prepayment.

• If, after the expiration of the Lockout Period, Borrower defeases the Loan as described in Section 11.12 of the Loan Agreement during the Defeasance Period, Borrower will not have the right to voluntarily prepay any of the principal of this Note at any time.

• Borrower may not voluntarily prepay any portion of the principal balance of this Note during the Lockout Period or during the Defeasance Period; provided, however, any prepayment occurring as a result of the application of any Insurance proceeds or Condemnation award under the Loan Agreement will be permitted during the Lockout Period and during the Defeasance Period.

• Notwithstanding Section 11(e) above, following the end of the Lockout Period and the Defeasance Period, Borrower may voluntarily prepay all of the unpaid principal balance of this Note on a Business Day other than an Installment Due Date if Borrower provides Lender with the Notice set forth in Section 11(e) and meets the other requirements set forth in this Section 11(f).

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

More Definitions of Defeasance Period

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.

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

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 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 of time: (1) commencing on the date which is 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 (2) ending on the Early Payment 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).