Obligor definition
Examples of Obligor in a sentence
To the extent not precluded by the Loan Documents, and if the Loan Documents expressly require the approval of the Rating Agencies to enter into any Due-on-Encumbrance Document, the Special Servicer shall not approve an additional encumbrance without requiring the related Obligor to pay any fees owed to the Rating Agencies associated with the approval of such lien or encumbrance.
No member of the Obligor Group nor any Subsidiary thereof is an Affected Financial Institution.
However, in the event that the related Obligor is required but fails to pay such fees, such fees shall be reimbursable as a Servicing Expense.
To the extent not precluded by the Loan Documents, and if the Loan Documents expressly require the approval of the Rating Agencies to enter into any Due-on-Sale Document, the Special Servicer shall not approve an assumption or substitution without requiring the related Obligor to pay any fees owed to the Rating Agencies associated with the approval of such assumption or substitution.
If the Special Servicer receives any such request from an Obligor (or from the Servicer) the Special Servicer shall analyze and process the request, subject to approval by the Controlling Holder with respect to any Major Decision.