Note B-1 Holder definition
Examples of Note B-1 Holder in a sentence
The Note B-1 Holder (unless a Control Appraisal Period has occurred and is continuing) shall have the right, but not the obligation, to cure such Monetary Default after receiving the first Monetary Default Notice and until the period ending (3) Business Days after receiving the second Monetary Default Notice (the “Cure Period”) and at no other times.
The Note B-1 Holder (unless a Control Appraisal Period has occurred and is continuing) shall not contact the Mortgage Loan Borrower in order to effect any cures under Sections 11(a) or this 11(d) unless it is in conjunction with the Special Servicer or the Note B-1 Holder (unless a Control Appraisal Period has occurred and is continuing) has obtained the prior written consent of the Note A-1 Holder.
The Note B-1 Holder (unless a Control Appraisal Period has occurred and is continuing) shall not be required, in order to effect a cure hereunder, to pay any default interest or late charges under the Loan Documents.
Each Non-Controlling Note Holder, the Note B-1 Holder and the Note B-2 Holder in its capacity as such, hereby agrees that, upon the request of the Note A-1-1 Holder, such Non-Controlling Note Holder, Note B-1 Holder or Note B-2 Holder, as applicable, shall execute, acknowledge and deliver to the Note A-1-1 Holder all and every such further deeds, conveyances and instruments as the Note A-1-1 Holder may reasonably request for the better assuring and evidencing of the foregoing appointment and grant.
Subject to the terms of this Agreement, the Note B-1 Holder shall be subrogated to the Senior Note Holder’s rights to any payment owing to the Senior Note Holders for which the Note B-1 Holder makes a cure payment as permitted under this Section 11 but such subrogation rights may not be exercised against the Mortgage Loan Borrower until 91 days after the Note is paid in full.