REO Income all REO Income received from the Special Servicer;
REO Income means, with respect to any REO Property that had not been security for an A/B Whole Loan or Loan Pair for any Collection Period, all income received in connection with such REO Property during such period less any operating expenses, utilities, real estate taxes, management fees, insurance premiums, expenses for maintenance and repairs and any other capital expenses directly related to such REO Property paid during such period. With respect to any Non-Serviced Mortgage Loan (if the applicable Non-Serviced Mortgage Loan Special Servicer has foreclosed upon the Mortgaged Property secured by such Non-Serviced Mortgage Loan Mortgage), the REO Income shall comprise only such portion of the foregoing that is allocable to the holder of such Non-Serviced Mortgage Loan.
REO Income means, with respect to any REO Property that had not been security for an A/B Mortgage Loan or Loan Pair for any Collection Period, all income received in connection with such REO Property during such period less any operating expenses, utilities, real estate taxes, management fees, insurance premiums, expenses for maintenance and repairs and any other capital expenses directly related to such REO Property paid during such period or, with respect to an REO Property that had been security for an A/B Mortgage Loan or Loan Pair, the portion of the amounts described above received with respect to such REO Property and allocable to the related A Note or Serviced Pari Passu Mortgage Loan, as applicable, pursuant to the related Intercreditor Agreement or Loan Pair Intercreditor Agreement, as applicable. With respect to any Non-Serviced Mortgage Loan (if the applicable Non-Serviced Mortgage Loan Special Servicer has foreclosed upon the Mortgaged Property secured by such Non-Serviced Mortgage Loan Mortgage), the REO Income shall comprise only such portion of the foregoing that is allocable to the holder of such Non-Serviced Mortgage Loan, and with respect to the Mortgaged Property securing any Loan Pair or A/B Mortgage Loan, only the portion of such amounts allocable to the holder of the related Serviced Pari Passu Mortgage or the related A Note, as applicable, shall be included in REO Income.
Examples of REO Income in a sentence
Any funds received by the Special Servicer in respect of any Specially Serviced Mortgage Loan or any REO Property or which otherwise are collected by the Special Servicer as Liquidation Proceeds, Condemnation Proceeds or Insurance Proceeds in respect of any Specially Serviced Mortgage Loan or any REO Property shall be transmitted to the Master Servicer within one Business Day of receipt to the Certificate Account, except that if such amounts relate to REO Income, they shall be deposited in the REO Account.
It is anticipated that the Master Servicer will be collecting all payments with respect to the Mortgage Loans, any Serviced Companion Loan and any B Note (other than payments with respect to REO Income).
It is anticipated that the Master Servicer will be collecting all payments with respect to the Mortgage Loans, any Serviced Companion Mortgage Loan and any B Note (other than payments with respect to REO Income).
It is anticipated that the Master Servicer will be collecting all payments with respect to the Mortgage Loans (other than payments with respect to REO Income).
The cost of any such Appraisal or valuation, if not performed by the Special Servicer, shall be an expense of the Trust and may be paid from REO Income or, to the extent collections from such related Mortgage Loan or Mortgaged Property does not cover the expense, such unpaid expense shall be, subject to Section 4.4 hereof, advanced by the Master Servicer at the request of the Special Servicer pursuant to Section 4.6 in which event it shall be treated as a Servicing Advance.
More Definitions of REO Income
REO Income means, with respect to any REO Property for any Collection Period, all income received in connection with such REO Property during such period.
REO Income means, with respect to any REO Property that had not been security for an A/B Mortgage Loan for any Collection Period, all income received in connection with such REO Property during such period less any operating expenses, utilities, real estate taxes, management fees, insurance premiums, expenses for maintenance and repairs and any other capital expenses directly related to such REO Property paid during such period or, with respect to an REO Property that had been security for an A/B Mortgage Loan, the portion of the amounts described above received with respect to such REO Property and allocable to the related A Note pursuant to the related Intercreditor Agreement.
REO Income means, with respect to any REO Property, except as set forth below, all income received in connection with such REO Property during such period less any operating expenses, utilities, real estate taxes, management fees, insurance premiums, expenses for maintenance and repairs and any other capital expenses directly related to such REO Property paid during such period. With respect to the Non-Trust Serviced Loan Group (if the 2007-HQ11 Special Servicer has foreclosed upon the mortgaged properties securing the Non-Trust Serviced Pari Passu Loan), the REO Income includes only the portion of such net income that is paid to the holder of the Non-Trust Serviced Pari Passu Loan pursuant to the 2007-HQ11 Pooling and Servicing Agreement.
REO Income means, with respect to any REO Property, except as set forth below, all income received in connection with such REO Property during such period less any operating expenses, utilities, real estate taxes, management fees, insurance premiums, expenses for maintenance and repairs and any other capital expenses directly related to such REO Property paid during such period. With respect to any Non-Trust-Serviced Loan Group (if the related Other Special Servicer has foreclosed upon the Mortgaged Property secured by the related Mortgage), the REO Income shall comprise only such portion of the foregoing that is allocable to the holder of the related Non-Trust-Serviced Pari Passu Loan pursuant to the applicable Other Pooling and Servicing Agreement and the applicable Intercreditor Agreement.
REO Income means, with respect to any REO Property that had not been security for an A/B Mortgage Loan or Loan Pair for any Collection Period, all income received in connection with such REO Property during such period less any operating expenses, utilities, real estate taxes, management fees, insurance premiums, expenses for maintenance and repairs and any other capital expenses directly related to such REO Property paid during such period or, with respect to an REO Property that had been security for an A/B Mortgage Loan or Loan Pair, the portion of the amounts described above received with respect to such REO Property and allocable to the related A-1 Note or Pari Passu Loan, as applicable, pursuant to the related Intercreditor Agreement.
REO Income means, with respect to any REO Property, all income received in connection with such REO Property during such period less any operating expenses, utilities, real estate taxes, management fees, insurance premiums, expenses for maintenance and repairs and any other capital expenses directly related to such REO Property paid during such period. With respect to the One Seaport Plaza Pari Passu Loan (if the 2002-IQ2 Special Servicer has foreclosed upon the Mortgaged Property secured by the One Seaport Plaza Pari Passu Mortgage), the REO Income shall comprise only such portion of the foregoing that is payable to the holder of the One Seaport Plaza Pari Passu Loan pursuant to the 2002-IQ2 Pooling and Servicing Agreement. With respect to the San Xxxxx A Note, the REO Income shall comprise only such portion of the foregoing that is payable to the holder of the San Xxxxx A Note pursuant to the San Xxxxx Intercreditor Agreement.
REO Income means, with respect to any REO Property that had not been security for an A/B Mortgage Loan or the Loan Pair for any Collection Period, all income received in connection with such REO Property during such period less any operating expenses, utilities, real estate taxes, management fees, insurance premiums, expenses for maintenance and repairs and any other capital expenses directly related to such REO Property paid during such period or, with respect to an REO Property that had been security for an A/B Mortgage Loan or the Loan Pair, the portion of the amounts described above received with respect to such REO Property and allocable to the related A Note or the WestShore Plaza Pari Passu Loan, as applicable, pursuant to the related Intercreditor Agreement or Loan Pair Intercreditor Agreement, as applicable. With respect to any Non-Serviced Mortgage Loan (if the applicable Non-Serviced Mortgage Loan Special Servicer has foreclosed upon the Mortgaged Property secured by such Non-Serviced Mortgage Loan Mortgage), the REO Income shall comprise only such portion of the foregoing that is allocable to the holder of such Non-Serviced Mortgage Loan.