Insurance and Condemnation Proceeds shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.
Insurance and Condemnation Proceeds. All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation of a Mortgaged Property, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged Property or released to the Mortgagor or any tenants or ground lessors, in either case, in accordance with the Servicing Standard (and in the case of any Mortgage Loan with a related Companion Loan, to the extent any portion of such proceeds are received by the Master Servicer or Certificate Administrator in connection with such Mortgage Loan, pursuant to the allocations set forth in the related Intercreditor Agreement) and the REMIC Provisions.
Insurance and Condemnation Proceeds. (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii) following the Securitization Date, shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or any one or more analogous terms in the Lead Securitization Servicing Agreement.
Examples of Insurance and Condemnation Proceeds in a sentence
The Master Servicer shall be entitled to recover unpaid Servicing Fees in respect of any Mortgage Loan, Companion Loan or REO Loan out of that portion of related payments, Insurance and Condemnation Proceeds, Liquidation Proceeds and REO Revenues (in the case of an REO Loan) allocable as recoveries of interest, to the extent permitted by Section 3.05(a).
Proceeds that exceed $10,000 shall be deposited in the Insurance and Condemnation Proceeds Fund and expended as provided in Sections 6.04 or 4.04, as applicable, of the Indenture.
The Trustee will deposit these funds into the Insurance and Condemnation Proceeds Fund established at that time by the Trustee.
Earnings on investments held in the Insurance and Condemnation Proceeds Fund shall be retained therein to be applied in accordance with this Section 6.04.
Earnings on the Insurance and Condemnation Proceeds Fund shall be retained therein until applied as provided in Section 6.04.
More Definitions of Insurance and Condemnation Proceeds
Insurance and Condemnation Proceeds. All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation of a Mortgaged Property, as applicable, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged Property, as applicable, or released to the Obligor or any tenants or ground lessors, in either case, in accordance with the Servicing Standard.
Insurance and Condemnation Proceeds has the meaning assigned thereto in Section 4.4(b)(iv).
Insurance and Condemnation Proceeds. All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation of a Mortgaged Property, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged Property or released to the Mortgagor or any tenants or ground lessors, in either case, in accordance with the Servicing Standards.
Insurance and Condemnation Proceeds. All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation of a Mortgaged Property, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged Property or released to the Mortgagor or any tenants or ground lessors, in either case, in accordance with the Servicing Standards (and in the case of any AB Mortgage Loan, to the extent any portion of such proceeds are received by the Paying Agent in connection with such AB Mortgage Loan, pursuant to the allocations set forth in the related Intercreditor Agreement).
Insurance and Condemnation Proceeds. All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation of a Mortgaged Property, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged Property or released to the Mortgagor or any tenants or ground lessors, in either case, in accordance with the Servicing Standards (and in the case of any Serviced Mortgage Loan or the Non-Serviced Mortgage Loans, to the extent any portion of such proceeds are received by the Trustee in connection with such Serviced Mortgage Loan or the Non-Serviced Mortgage Loans, as applicable, pursuant to the allocations set forth in the related Intercreditor Agreement).
Insurance and Condemnation Proceeds means the Company's and the Guarantors' interest in and to all proceeds which now or hereafter may be paid as a result of any condemnation proceeding or under any insurance policies now or hereafter obtained by or on behalf of the Company or any of the Guarantors in connection with the conversion of the Property subject to the Security Documents into Cash, Cash Equivalents or liquidated claims, together with the interest payable thereon and the right to collect and receive the same, including, but without limiting the generality of the foregoing, proceeds of casualty insurance, title insurance, business interruption insurance and any other insurance now or hereafter maintained with respect to such Property.
Insurance and Condemnation Proceeds. All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation of a Mortgaged Property, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged Property or released to the Mortgagor or any tenants or ground lessors, in either case, in accordance with the Servicing Standard (and (i) in the case of any Mortgage Loan with a related Companion Loan, to the extent any portion of such proceeds are received by the Master Servicer or Certificate Administrator in connection with such Mortgage Loan, pursuant to the allocations set forth in the related Intercreditor Agreement and (ii) in the case of each Trust Whole Loan, to the extent any portion of such proceeds are received by the Master Servicer or Certificate Administrator in connection with such Trust Whole Loan and are allocable to the related Mortgage Loan and Trust Companion Loan, as applicable, pursuant to the related Intercreditor Agreement) and the REMIC Provisions.