Excluded Loan definition

Excluded Loan shall have the meaning specified in Section 8.07(iii) of the Indenture.

Excluded Loan. With respect to (a) the Directing Certificateholder or the Holder of the majority of the Controlling Class, any Mortgage Loan or Whole Loan if, as of any date of determination, the Directing Certificateholder or the Holder of the majority of the Controlling Class is a Borrower Party, or (b) the Risk Retention Consultation Party or the Holder of the majority of the RR Interest, any Mortgage Loan or Whole Loan if, as of any date of determination, the Risk Retention Consultation Party or the Holder of the majority of the RR Interest is a Borrower Party. For the avoidance of doubt, any Excluded Loan as to either the Directing Certificateholder or the Holder of the majority of the Controlling Class is also an Excluded Controlling Class Loan. As of the Closing Date, there are no Excluded Loans related to the Trust.

Excluded Loan. With respect to the Directing Holder or the Holder of the majority of the Controlling Class, any Mortgage Loan or Whole Loan if, as of any date of determination, the Controlling Class Representative or the Holder of the majority of the Controlling Class (by Certificate Balance) is a Borrower Party. For the avoidance of doubt, any Excluded Loan is also an Excluded Controlling Class Loan. As of the Closing Date, there are no Excluded Loans related to the Trust.

Examples of Excluded Loan in a sentence

• No Excluded Loan may be de-designated as such on any Loan Action Date unless such Loan would constitute an Eligible Loan as of the close of business on the last day of the Collection Period immediately preceding such Loan Action Date if such last day were deemed to be such Loan’s Cut-Off Date.

• On any Loan Action Date during the Revolving Period, an Excluded Loan may be de-designated as such by the delivery by the Depositor (or the Servicer on its behalf) to the Issuer and the Indenture Trustee on or before the Monthly Determination Date relating to such Loan Action Date of a report identifying each such expected Loan (by loan number and Seller and Subservicer) as ceasing to be designated as an Excluded Loan.

• The Master Servicer shall deliver or make available a copy of each such report to the Directing Certificateholder and upon request to each Controlling Class Certificateholder (which request may state that such items may be delivered until further notice) (except, after the occurrence and during the continuance of a Consultation Termination Event or with respect to any Specially Serviced Loan that is an Excluded Loan as to such party).

• The Master Servicer shall deliver to the Trustee, the Certificate Administrator, the Operating Advisor, any related Serviced Pari Passu Companion Noteholder, and ((i) prior to the occurrence of a Consultation Termination Event or (ii) other than with respect to any Excluded Loan) the Directing Holder, a copy of the notice of such Servicing Transfer Event provided by the Master Servicer to the Special Servicer, or by the Special Servicer to the Master Servicer, pursuant to this Section 3.19.

• In respect of any Mortgage Loan other than an Excluded Loan and prior to the occurrence of a Consultation Termination Event, the Master Servicer shall deliver a copy of each such report to the Directing Holder and upon request to each Controlling Class Certificateholder (which request may state that such items may be delivered until further notice).

More Definitions of Excluded Loan

Excluded Loan has the meaning set forth in Section 2.12(G) hereof.

Excluded Loan. A Loan listed on Schedule IX (i) that was originated, acquired or extended by the Originator, CapitalSource Inc. or any of their respective Subsidiaries prior to May 1, 2007, (ii) under which the Originator, CapitalSource Inc. or any of their respective Subsidiaries is acting as administrative (or other analogous) agent and a lender thereunder, or (iii) for which the documentation governing such Loan has been amended and restated based upon the form documentation utilized by the Originator and CapitalSource Inc. The Seller and the Servicer shall update Schedule IX, when necessary, on each Funding Date.

Excluded Loan has the meaning set forth in Section 2.11(g) hereof.

Excluded Loan means any Loan (a) sold or pledged pursuant to a Purchase Agreement,

Excluded Loan. A Mortgage Loan or Loan Combination with respect to which, as of any date of determination, the Majority Subordinate Certificateholder and/or the Subordinate Class Representative is a Borrower Party.

Excluded Loan means the Hilex Poly Co loan described on the loan list attached to the Master Transfer Agreement, with an outstanding principal balance of $34,331,526.

Excluded Loan has the meaning set forth in this Section 1.1 in the definition of Loans.