Scheduled Defeasance Payments definition

Scheduled Defeasance Payments shall have the meaning set forth in Section 2.5.1(b) hereof.

Scheduled Defeasance Payments means scheduled payments of interest and principal hereunder for all Monthly Payment Dates occurring after the Total Defeasance Date and up to and including the Prepayment Release Date (assuming the Note is prepaid in full as of such Prepayment Release Date and including the outstanding principal balance and accrued interest on the Loan as of such Prepayment Release Date), and all payments required after the Total Defeasance Date, if any, under the Loan Documents for servicing fees, rating surveillance charges (to the extent applicable) and other similar charges.

Scheduled Defeasance Payments means scheduled payments of interest and principal under the Note for all Payment Dates occurring after the Defeasance Date and up to and including the Maturity Date (including, the outstanding principal balance on the Note as of the Maturity Date).

Examples of Scheduled Defeasance Payments in a sentence

• Any cash from interest and principal paid on the Defeasance Collateral not needed to pay the Scheduled Defeasance Payments shall be paid to Borrower.

• Any cash from interest and principal paid on the Defeasance Collateral not needed to pay the Scheduled Defeasance Payments shall be paid to Borrower monthly after Borrower causes the Scheduled Defeasance Payments to be made to Lender.

• Any cash from interest and principal paid on the Total Defeasance Collateral not needed to pay the Scheduled Defeasance Payments shall be (i) paid to Borrower or Successor Borrower (as applicable) and/or (ii) to the extent permitted by applicable REMIC Requirements, retained in the Defeasance Collateral Account.

• Following the payment of all Scheduled Defeasance Payments, any cash from interest and principal paid on the Total Defeasance Collateral or Partial Defeasance Collateral in excess of the amounts necessary to pay the Scheduled Defeasance Payments shall be paid to Borrower or, if there is a Successor Borrower, to Successor Borrower.

• Borrower shall deliver to Lender a confirmation, in form and substance satisfactory to Lender, by a "Big Five" independent certified public accounting firm, that Defeasance Deposit is sufficient to pay all Scheduled Defeasance Payments and other amounts required to be paid by Borrower hereunder in connection with the proposed Defeasance.

More Definitions of Scheduled Defeasance Payments

Scheduled Defeasance Payments the Monthly Debt Service Payment Amount required under the Note for all Payment Dates occurring after the Defeasance Date (including the outstanding Principal balance on the Note as of the Stated Maturity Date).

Scheduled Defeasance Payments means scheduled payments of interest and principal under the Note in the case of a Total Defeasance and under the Defeased Note in the case of a Partial Defeasance for all Payment Dates occurring after the Defeasance Date and up to and including the Scheduled Maturity Date (including, in the case of a Total Defeasance, the outstanding principal balance of the Loan as of the Scheduled Maturity Date and, in the case of a Partial Defeasance, the outstanding principal balance of the Defeased Note as of the Scheduled Maturity Date), and all payments required after the Defeasance Date, if any, under the Loan Documents for servicing fees, and other similar charges.

Scheduled Defeasance Payments means:

Scheduled Defeasance Payments means in the case of a (i) full Defeasance Event, the scheduled payments of interest and principal under the Note for all Monthly Payment Dates occurring after the Defeasance Date and up to and including the Maturity Date (including the outstanding principal balance on the Note as of the Maturity Date) and (ii) a partial Defeasance Event, 125% of the scheduled payments of interest and principal with respect to the Allocated Loan Amount for the released Property for all Monthly Payment Dates occurring after the Defeasance Date and up to and including the Maturity Date (including the outstanding principal balance allocated to the released Property on the Note as of the Maturity Date).

Scheduled Defeasance Payments means scheduled payments of interest and principal hereunder (with respect to a Total Defeasance) and under the Defeased Note (with respect to a Partial Defeasance), in each case, for all Monthly Payment Dates occurring after the Total Defeasance Date or Partial Defeasance Date (as applicable) and up to and including the end of the Interest Accrual Period related to the Prepayment Release Date (assuming the Fixed Rate Component in the aggregate or the Defeased Note (as applicable) is prepaid in full as of such Prepayment Release Date and including the outstanding principal balance and accrued interest on the aggregate amount of the Fixed Rate Component or Defeased Note (as applicable) as of such Prepayment Release Date), and all payments required after the Total Defeasance Date or Partial Defeasance Date (as applicable), if any, under the Loan Documents for servicing fees, rating surveillance charges (to the extent applicable) and other similar charges.

Scheduled Defeasance Payments means all successive scheduled payments due hereunder on each Payment Date after the Defeasance Date (as hereinafter defined), including the amounts due on the Maturity Date.

Scheduled Defeasance Payments means the Monthly Payment Amount required under the Notes for all Payment Dates occurring after the Defeasance Date (including, on the Maturity Date, the remaining outstanding principal balance on the Notes as of the Maturity Date).