Post-Closing Acquisition definition
Examples of Post-Closing Acquisition in a sentence
Each Additional Loan Obligation, except for Closing Date Loan Obligations acquired during the Post-Closing Acquisition Period, shall satisfy the applicable Eligibility Criteria.
For the avoidance of doubt, none of the Property Manager, the Back-Up Manager or the Special Servicer, as applicable, shall take into account amounts on deposit in the Post-Closing Acquisition Reserve Account in making any nonrecoverability determination with respect to any P&I Advance.
If any such account is not held at a depository institution that is the same as the Indenture Trustee, the Issuers will cause the bank or securities intermediary maintaining the Collection Account, Release Account, Post-Closing Acquisition Reserve Account, Payment Account, DSCR Reserve Account or any other account held as part of the Collateral Pool, to execute and deliver to the Indenture Trustee an Account Control Agreement with respect to such account.
Funds in the Post-Closing Acquisition Reserve Account shall not be commingled with any other moneys.
In accordance with the terms of this Indenture, the Indenture Trustee shall have exclusive control and sole right of withdrawal with respect to the Post-Closing Acquisition Reserve Account.
On each Series Closing Date, the Indenture Trustee will deposit or cause to be deposited into the Post-Closing Acquisition Reserve Account the related Post-Closing Acquisition Reserve Amount.
The Post-Closing Acquisition Reserve Account will constitute an “Eligible Account” within the meaning of the Indenture.
The funds held in the Post-Closing Acquisition Reserve Account may be held as cash.
All moneys deposited in the Post-Closing Acquisition Reserve Account shall be held by and under the control of the Indenture Trustee in the Post-Closing Acquisition Reserve Account for the benefit of the Noteholders and the Issuers as herein provided.
On the Series Closing Date, the Issuers will deposit or cause to be deposited the Post-Closing Acquisition Proceeds into the Post-Closing Acquisition Reserve Account.