Initial Resolution Period definition

Initial Resolution Period. As defined in Section 2.03(b).

Initial Resolution Period shall have the meaning assigned thereto in Section 2.03(a).

Initial Resolution Period shall have the meaning given such term in Section 7 of this Agreement.

Examples of Initial Resolution Period in a sentence

• The failure of the Master Servicer, the Special Servicer or the Trustee to notify the Seller of a Material Defect or Material Breach shall not constitute a waiver of any cure or repurchase obligation, provided that the Seller must receive written notice thereof as described in this Section 6(a) before commencement of the Initial Resolution Period.

• If the Seller does not, as required by this Section 7, correct or cure a Material Breach or a Material Defect in all material respects within the applicable Initial Resolution Period (as extended pursuant to this Section 7), or if such Breach or Defect is not capable of being so corrected or cured within such period, then the Seller shall purchase or substitute for the affected Mortgage Loan as provided in this Section 7.

• The failure of the Master Servicer, a Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator or the Trustee to notify the Mortgage Loan Seller of a Material Defect or Material Breach shall not constitute a waiver of any cure or repurchase obligation, provided that the Mortgage Loan Seller must receive written notice thereof as described in this Section 6(a) before commencement of the Initial Resolution Period.

• If the Seller does not, as required by this Section 7, correct or cure a material Breach or a material Defect in all material respects within the applicable Initial Resolution Period (as extended pursuant to this Section 7), or if such Breach or Defect is not capable of being so corrected or cured with such period, then the Seller shall purchase or substitute for the affected Mortgage Loan as provided in this Section 7.

• Any Defect or Breach which causes any Mortgage Loan not to be a "qualified mortgage" (within the meaning of Section 860G(a)(3) of the Code) shall be deemed to materially and adversely affect the interest of Certificateholders therein and the Initial Resolution Period for the affected Mortgage Loan shall be 90 days following the earlier of the Seller's receipt of notice pursuant to this Section 7 or its discovery of such Defect or Breach (which period shall not be subject to extension).

More Definitions of Initial Resolution Period

Initial Resolution Period has the meaning set forth in Section 2.4(e).

Initial Resolution Period. Section 2.18(a)

Initial Resolution Period. As defined in Section 4(e).

Initial Resolution Period. As defined xx Xxxtion 2.03.

Initial Resolution Period has the meaning set forth in Section 6.9(a).

Initial Resolution Period. As defined in the Loan Purchase Agreement.

Initial Resolution Period shall have the meaning given such term in SECTION 7 of this Agreement.