Mortgage Loan Event of Default definition

Mortgage Loan Event of Default means an “Event of Default” under and as defined in the Mortgage Loan Agreement.

Mortgage Loan Event of Default. An “Event of Default” as defined in the Loan Agreement.

Mortgage Loan Event of Default shall have the meaning given to such term in Section 6 of the Mortgage Loan Agreement.

Examples of Mortgage Loan Event of Default in a sentence

• Borrower shall reimburse Lender on demand for any and all costs incurred by Lender in connection with curing any such Mortgage Loan Default, Senior Mezzanine Loan Default, Mortgage Loan Event of Default or Senior Mezzanine Loan Event of Default or satisfying any Liens, claims or judgments against any of the Properties or the Senior Mezzanine Collateral.

• Borrower shall promptly advise Lender of any material Default or Event of Default of which Borrower has knowledge, including any Mortgage Loan Default, Senior Mezzanine Loan Default, Senior Mezzanine Loan Event of Default or Mortgage Loan Event of Default.

• If the Borrower Related Parties do not make the necessary payments and/or a Mortgage Loan Event of Default has occurred and amounts in the applicable Reserve Account are insufficient to make such payments, the Servicer shall make a Property Protection Advance, subject to the determination of non-recoverability provided in Section 3.23, from its own funds for amounts payable with respect to all such items related to the Property when and as the same shall become due and payable.

• Borrower shall give notice, or cause notice to be given, to Lender promptly upon the occurrence of any Mortgage Loan Event of Default.

• If the Loan Parties do not make the necessary payments and/or a Mortgage Loan Event of Default has occurred and amounts in the applicable Reserve Account are insufficient to make such payments, the Servicer shall make a Property Protection Advance, subject to the determination of non-recoverability provided in Section 3.23, from its own funds for amounts payable with respect to all such items related to the Mortgaged Property when and as the same shall become due and payable.

More Definitions of Mortgage Loan Event of Default

Mortgage Loan Event of Default shall have the meaning ascribed to the term “Event of Default” in the Security Instrument.

Mortgage Loan Event of Default means an event of default under the Mortgage Loan Documents which remains uncured following the expiration of any applicable cure or grace period.

Mortgage Loan Event of Default shall have the meaning given to such term in Section 6 of the Mortgage Loan Agreement. [*] Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

Mortgage Loan Event of Default. As to either Mortgage, an "Event of Default" as defined therein.

Mortgage Loan Event of Default. As defined in Section 3.13(a).

Mortgage Loan Event of Default means an “Event of Default” as defined in the Mortgage Loan Agreement. “Mortgage Loan Excess Cash Flow Reserve Account” means the “Excess Cash Flow Reserve Account” as defined in the Mortgage Loan Agreement. “Mortgage Loan Note” has the meaning set forth in the Recitals hereto. “Mortgage Loan Outstanding Principal Balance” means, as of any date, the outstanding principal balance of the Mortgage Loan. “Mortgage Loan Reserve Funds” means the “Reserve Funds” under and as defined in the Mortgage Loan Agreement. “Mortgage Loan Shortfall Account” means the “Shortfall Account” under and as defined in the Mortgage Loan Agreement. “Mortgage Shortfall Provisions” has the meaning set forth in Section 2.1.9(e). “Net Liquidation Proceeds” shall mean, with respect to any Liquidation Event, all amounts paid to or received by or on behalf of Mortgage Borrower in connection with such Liquidation Event, including, without limitation, proceeds of any sale, refinancing or other disposition or liquidation, less (i) Lender’s and/or Mortgage Lender’s reasonable costs incurred in connection with the recovery thereof, (ii) the costs incurred by Mortgage Borrower in connection with a restoration of the Property made in accordance with the Mortgage Loan Documents, (iii) amounts required or permitted to be deducted therefrom and amounts paid pursuant to the Mortgage Loan Documents to Mortgage Lender, (iv) in the case of a foreclosure sale, disposition or Transfer of the Property in connection with realization thereon following an Event of Default under the Mortgage Loan, such reasonable and customary costs and expenses of sale or other disposition (including attorneys’ fees and brokerage commissions), (v) in the case of a foreclosure sale, such costs and expenses incurred by Mortgage Lender under the Mortgage Loan Documents as Mortgage Lender shall be entitled to receive reimbursement for under the terms of the Mortgage Loan Documents, (vi) in the case of a refinancing of the Mortgage Loan, such costs and expenses (including attorneys’ fees) of such refinancing as shall be reasonably approved by Lender and (vii) the amount of any prepayments, yield maintenance charges and/or prepayment premiums required pursuant to the Mortgage Loan Documents and/or the Loan Documents in connection with any such Liquidation Event. “Net Operating Income” has the meaning set forth in the Mortgage Loan Agreement. “Net Proceeds” has the meaning set forth in the Mortgage Loan Agreement.

Mortgage Loan Event of Default. With respect to any Mortgage Loan or Companion Loan, an "event of default" under the related Loan Documents.