PNC definition
Examples of PNC in a sentence
Each Letter shall be issued by and drawn on JPMorgan Chase Bank, N.A., Bank of America, N.A., Citibank, N.A., PNC Bank, N.A., W▇▇▇▇ Fargo Bank, N.A., or another commercial bank acceptable to Landlord in its reasonable discretion and at a minimum having a long-term issuer credit rating of A- from Standard & Poor’s Professional Rating Service, A3 from M▇▇▇▇’▇ Professional Rating Service or A- from Fitch Group, Inc.
Any questions are to be directed to Midland Loan Services, a Division of PNC Bank, National Association, at the e-mail address provided with the submission of such CREFC® Schedule AL File and Schedule AL Additional File (or such other e-mail address or phone number provided to the Certificate Administrator and Depositor in writing from the Master Servicer).
Each of the Lenders and the Issuing Lender hereby irrevocably appoints PNC to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto.
The Master Servicer shall pay any Transferable Servicing Interest to the holder of such Transferable Servicing Interest at such time and to the extent the Master Servicer is entitled to receive payment of its Servicing Fees hereunder, notwithstanding any resignation or termination of Midland Loan Services, a Division of PNC Bank, National Association as the Master Servicer hereunder (subject to reduction pursuant to the preceding sentence).
In order to minimize the transfer of funds between the Lenders and the Administrative Agent, the Domestic Borrowers may borrow, repay and reborrow Swing Loans and PNC may make Swing Loans as provided in Section 2.1.2 [Swing Loan Commitments] hereof during the period between Settlement Dates.