{"component": "definition", "props": {"groups": [{"snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [27, 45]}, {"key": "obligation-to-pay", "type": "clause", "offset": [46, 63]}, {"key": "the-mortgage-loan", "type": "definition", "offset": [80, 97]}, {"key": "other-event-of-default", "type": "definition", "offset": [103, 125]}, {"key": "mortgage-loan-is", "type": "definition", "offset": [140, 156]}, {"key": "specially-serviced-loan", "type": "definition", "offset": [251, 274]}, {"key": "bankruptcy-or-insolvency-event", "type": "definition", "offset": [283, 313]}, {"key": "an-event-of-default", "type": "definition", "offset": [331, 350]}, {"key": "the-servicer", "type": "definition", "offset": [383, 395]}, {"key": "knowledge-of", "type": "definition", "offset": [410, 422]}, {"key": "applicable-distribution-date", "type": "definition", "offset": [479, 507]}, {"key": "beginning-on-the", "type": "clause", "offset": [549, 565]}, {"key": "subsequent-distribution-date", "type": "definition", "offset": [566, 594]}, {"key": "requirement-of-notice", "type": "clause", "offset": [639, 660]}, {"key": "in-the-case", "type": "clause", "offset": [689, 700]}, {"key": "distribution-of", "type": "clause", "offset": [704, 719]}, {"key": "the-final", "type": "clause", "offset": [720, 729]}, {"key": "disposition-of", "type": "clause", "offset": [765, 779]}, {"key": "to-the-extent", "type": "clause", "offset": [844, 857]}, {"key": "cure-payment", "type": "definition", "offset": [891, 903]}, {"key": "note-b-holder", "type": "definition", "offset": [916, 929]}, {"key": "in-accordance-with", "type": "clause", "offset": [930, 948]}, {"key": "section-11", "type": "definition", "offset": [949, 959]}, {"key": "cure-rights", "type": "clause", "offset": [1044, 1055]}], "snippet": "means any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any other Event of Default for which the Mortgage Loan is actually accelerated or any other Event of Default which causes the Mortgage Loan to become a Specially Serviced Loan, or any bankruptcy or insolvency event that constitutes an Event of Default; provided, however, that unless the Servicer has notice or knowledge of such event at least ten (10) Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on the subsequent distribution date; provided, further, that the aforementioned requirement of notice or knowledge will not apply in the case of distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A Sequential Pay Event shall no longer exist to the extent it has been cured (including any cure payment made by the Note B Holder in accordance with Section 11) and shall not be deemed to exist to the extent the Note B Holder is exercising its cure rights under Section 11 or the default that led to the occurrence of such Sequential Pay Event has otherwise been cured or waived.", "size": 93, "samples": [{"hash": "apykxqu3HrL", "uri": "/contracts/apykxqu3HrL#sequential-pay-event", "label": "Intercreditor Agreement (Benchmark 2021-B27 Mortgage Trust)", "score": 32.4907608032, "published": true}, {"hash": "kE9ZtTtYTjR", "uri": "/contracts/kE9ZtTtYTjR#sequential-pay-event", "label": "Intercreditor Agreement (Benchmark 2021-B26 Mortgage Trust)", "score": 32.4004096985, "published": true}, {"hash": "eEpg4zS1Zo4", "uri": "/contracts/eEpg4zS1Zo4#sequential-pay-event", "label": "Intercreditor Agreement (Benchmark 2021-B25 Mortgage Trust)", "score": 32.3237495422, "published": true}], "hash": "a2055d80fa090648d7eff80177fabcd6", "id": 1}, {"snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [27, 45]}, {"key": "obligation-to-pay", "type": "clause", "offset": [46, 63]}, {"key": "the-mortgage-loan", "type": "definition", "offset": [80, 97]}, {"key": "other-event-of-default", "type": "definition", "offset": [103, 125]}, {"key": "mortgage-loan-is", "type": "definition", "offset": [140, 156]}, {"key": "specially-serviced-mortgage-loan", "type": "definition", "offset": [251, 283]}, {"key": "bankruptcy-or-insolvency-event", "type": "definition", "offset": [292, 322]}, {"key": "an-event-of-default", "type": "definition", "offset": [340, 359]}, {"key": "the-servicer", "type": "definition", "offset": [392, 404]}, {"key": "servicing-agreement", "type": "clause", "offset": [415, 434]}, {"key": "knowledge-of", "type": "definition", "offset": [449, 461]}, {"key": "applicable-distribution-date", "type": "definition", "offset": [518, 546]}, {"key": "beginning-on-the", "type": "clause", "offset": [588, 604]}, {"key": "subsequent-distribution-date", "type": "definition", "offset": [605, 633]}, {"key": "requirement-of-notice", "type": "clause", "offset": [678, 699]}, {"key": "in-the-case", "type": "clause", "offset": [728, 739]}, {"key": "distribution-of", "type": "clause", "offset": [743, 758]}, {"key": "the-final", "type": "clause", "offset": [759, 768]}, {"key": "disposition-of", "type": "clause", "offset": [804, 818]}, {"key": "to-the-extent", "type": "clause", "offset": [883, 896]}, {"key": "cure-payment", "type": "definition", "offset": [930, 942]}, {"key": "in-accordance-with", "type": "clause", "offset": [971, 989]}, {"key": "section-11", "type": "definition", "offset": [990, 1000]}, {"key": "cure-rights", "type": "clause", "offset": [1089, 1100]}], "snippet": "means any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any other Event of Default for which the Mortgage Loan is actually accelerated or any other Event of Default which causes the Mortgage Loan to become a Specially Serviced Mortgage Loan, or any bankruptcy or insolvency event that constitutes an Event of Default; provided, however, that unless the Servicer under the Servicing Agreement has notice or knowledge of such event at least ten (10) Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on the subsequent distribution date; provided, further, that the aforementioned requirement of notice or knowledge will not apply in the case of distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A Sequential Pay Event shall no longer exist to the extent it has been cured (including any cure payment made by a Curing Noteholder in accordance with Section 11) and shall not be deemed to exist to the extent any Curing Noteholder is exercising its cure rights under Section 11 or the default that led to the occurrence of such Sequential Pay Event has otherwise been cured or waived.", "size": 83, "samples": [{"hash": "i3Jv1ObMPv2", "uri": "/contracts/i3Jv1ObMPv2#sequential-pay-event", "label": "Agreement Between Noteholders (Benchmark 2021-B27 Mortgage Trust)", "score": 32.4907608032, "published": true}, {"hash": "kQ81Mdbp4cX", "uri": "/contracts/kQ81Mdbp4cX#sequential-pay-event", "label": "Agreement Between Noteholders (Benchmark 2021-B26 Mortgage Trust)", "score": 32.4004096985, "published": true}, {"hash": "cAZtOvruoyC", "uri": "/contracts/cAZtOvruoyC#sequential-pay-event", "label": "Agreement Between Noteholders (Bank 2021-Bnk33)", "score": 32.3812446594, "published": true}], "hash": "1c4197701107e0914369c7918fd029c5", "id": 2}, {"snippet_links": [{"key": "payment-default-event", "type": "definition", "offset": [15, 36]}, {"key": "trust-estate-liquidation-event", "type": "definition", "offset": [42, 72]}], "snippet": "means either a Payment Default Event or a Trust Estate Liquidation Event.", "size": 33, "samples": [{"hash": "hNc0pgJz9A", "uri": "/contracts/hNc0pgJz9A#sequential-pay-event", "label": "Omnibus Amendment (BBX Capital Corp)", "score": 31.0041065216, "published": true}, {"hash": "4RMDyUnUGQj", "uri": "/contracts/4RMDyUnUGQj#sequential-pay-event", "label": "Omnibus Amendment (Bluegreen Vacations Corp)", "score": 31.0013694763, "published": true}, {"hash": "aMRJTl8qiqb", "uri": "https://www.sec.gov/Archives/edgar/data/315858/000031585823000034/bvh-20230620xex10_5.htm", "label": "Bluegreen Vacations Holding Corp", "score": 18.4647502899, "published": false}], "hash": "271ff2be397bd46e141168bf2bce49f2", "id": 3}, {"snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [27, 45]}, {"key": "obligation-to-pay", "type": "clause", "offset": [46, 63]}, {"key": "the-mortgage-loan", "type": "definition", "offset": [80, 97]}, {"key": "other-event-of-default", "type": "definition", "offset": [103, 125]}, {"key": "mortgage-loan-is", "type": "definition", "offset": [140, 156]}, {"key": "specially-serviced-loan", "type": "definition", "offset": [242, 265]}, {"key": "bankruptcy-or-insolvency-event", "type": "definition", "offset": [274, 304]}, {"key": "an-event-of-default", "type": "definition", "offset": [322, 341]}, {"key": "the-servicer", "type": "definition", "offset": [374, 386]}, {"key": "servicing-agreement", "type": "clause", "offset": [397, 416]}, {"key": "knowledge-of", "type": "definition", "offset": [431, 443]}, {"key": "applicable-distribution-date", "type": "definition", "offset": [500, 528]}, {"key": "beginning-on-the", "type": "clause", "offset": [570, 586]}, {"key": "subsequent-distribution-date", "type": "definition", "offset": [587, 615]}, {"key": "requirement-of-notice", "type": "clause", "offset": [660, 681]}, {"key": "in-the-case", "type": "clause", "offset": [710, 721]}, {"key": "distribution-of", "type": "clause", "offset": [725, 740]}, {"key": "the-final", "type": "clause", "offset": [741, 750]}, {"key": "disposition-of", "type": "clause", "offset": [786, 800]}, {"key": "cure-payment", "type": "definition", "offset": [905, 917]}, {"key": "controlling-noteholder", "type": "definition", "offset": [930, 952]}, {"key": "in-accordance-with", "type": "clause", "offset": [953, 971]}, {"key": "exercise-of", "type": "clause", "offset": [976, 987]}, {"key": "cure-rights", "type": "clause", "offset": [992, 1003]}, {"key": "section-11", "type": "definition", "offset": [1010, 1020]}, {"key": "securitization-date", "type": "clause", "offset": [1050, 1069]}, {"key": "midland-loan-services", "type": "definition", "offset": [1082, 1103]}, {"key": "pnc-bank", "type": "clause", "offset": [1119, 1127]}, {"key": "national-association", "type": "definition", "offset": [1129, 1149]}, {"key": "following-the", "type": "definition", "offset": [1159, 1172]}, {"key": "the-master-servicer", "type": "definition", "offset": [1205, 1224]}, {"key": "the-special-servicer", "type": "clause", "offset": [1228, 1248]}, {"key": "the-context", "type": "clause", "offset": [1253, 1264]}], "snippet": "means any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any other Event of Default for which the Mortgage Loan is accelerated or any other Event of Default which causes the Mortgage Loan to become a Specially Serviced Loan, or any bankruptcy or insolvency event that constitutes an Event of Default; provided, however, that unless the Servicer under the Servicing Agreement has notice or knowledge of such event at least ten (10) Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on the subsequent distribution date; provided, further, that the aforementioned requirement of notice or knowledge will not apply in the case of distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A Sequential Pay Event shall no longer exist, if it has been cured, including by any cure payment made by the Controlling Noteholder in accordance with the exercise of its cure rights under Section 11. \u201cServicer\u201d (i) prior to the Securitization Date, shall mean Midland Loan Services, a Division of PNC Bank, National Association and (ii) following the Securitization Date, shall mean the Master Servicer or the Special Servicer, as the context may require.", "size": 23, "samples": [{"hash": "iKdvTXlHYI6", "uri": "/contracts/iKdvTXlHYI6#sequential-pay-event", "label": "Agreement Among Noteholders (Wells Fargo Commercial Mortgage Trust 2020-C57)", "score": 31.6502399445, "published": true}, {"hash": "7BbRv63RObO", "uri": "/contracts/7BbRv63RObO#sequential-pay-event", "label": "Agreement Among Noteholders (UBS Commercial Mortgage Trust 2019-C18)", "score": 30.9657764435, "published": true}, {"hash": "3jvDwSZRySd", "uri": "/contracts/3jvDwSZRySd#sequential-pay-event", "label": "Agreement Among Noteholders (UBS Commercial Mortgage Trust 2019-C16)", "score": 30.2867889404, "published": true}], "hash": "e62fedc296d37e14478f74fb493120e1", "id": 4}, {"snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [27, 45]}, {"key": "obligation-to-pay", "type": "clause", "offset": [46, 63]}, {"key": "the-mortgage-loan", "type": "definition", "offset": [80, 97]}, {"key": "other-event-of-default", "type": "definition", "offset": [103, 125]}, {"key": "mortgage-loan-is", "type": "definition", "offset": [140, 156]}, {"key": "specially-serviced-mortgage-loan", "type": "definition", "offset": [251, 283]}, {"key": "bankruptcy-or-insolvency-event", "type": "definition", "offset": [292, 322]}, {"key": "an-event-of-default", "type": "definition", "offset": [340, 359]}, {"key": "the-servicer", "type": "definition", "offset": [392, 404]}, {"key": "servicing-agreement", "type": "clause", "offset": [415, 434]}, {"key": "knowledge-of", "type": "definition", "offset": [449, 461]}, {"key": "applicable-distribution-date", "type": "definition", "offset": [518, 546]}, {"key": "beginning-on-the", "type": "clause", "offset": [588, 604]}, {"key": "subsequent-distribution-date", "type": "definition", "offset": [605, 633]}, {"key": "requirement-of-notice", "type": "clause", "offset": [678, 699]}, {"key": "in-the-case", "type": "clause", "offset": [728, 739]}, {"key": "distribution-of", "type": "clause", "offset": [743, 758]}, {"key": "the-final", "type": "clause", "offset": [759, 768]}, {"key": "disposition-of", "type": "clause", "offset": [804, 818]}, {"key": "note-b-holder", "type": "definition", "offset": [920, 933]}, {"key": "cure-rights", "type": "clause", "offset": [952, 963]}, {"key": "section-11", "type": "definition", "offset": [970, 980]}], "snippet": "means any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any other Event of Default for which the Mortgage Loan is actually accelerated or any other Event of Default which causes the Mortgage Loan to become a Specially Serviced Mortgage Loan, or any bankruptcy or insolvency event that constitutes an Event of Default; provided, however, that unless the Servicer under the Servicing Agreement has notice or knowledge of such event at least ten (10) Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on the subsequent distribution date; provided, further, that the aforementioned requirement of notice or knowledge will not apply in the case of distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A Sequential Pay Event shall no longer exist if (1) it has been cured, or (2) any Note B Holder is exercising its cure rights under Section 11.", "size": 19, "samples": [{"hash": "2Sm4bsLRFZp", "uri": "/contracts/2Sm4bsLRFZp#sequential-pay-event", "label": "Agreement Between Noteholders (Bank of America Merrill Lynch Commercial Mortgage Trust 2017-Bnk3)", "score": 28.126625061, "published": true}, {"hash": "1HmGLTDxWEA", "uri": "/contracts/1HmGLTDxWEA#sequential-pay-event", "label": "Agreement Between Noteholders (Citigroup Commercial Mortgage Trust 2017-P7)", "score": 26.2936344147, "published": true}, {"hash": "bbCgKbZKhPU", "uri": "/contracts/bbCgKbZKhPU#sequential-pay-event", "label": "Agreement Among Noteholders (Wells Fargo Commercial Mortgage Trust 2017-Rb1)", "score": 26.2416152954, "published": true}], "hash": "ba5d1cb53f23b442813ad1ac95c590ca", "id": 5}, {"snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [27, 45]}, {"key": "obligation-to-pay", "type": "clause", "offset": [46, 63]}, {"key": "the-mortgage-loan", "type": "definition", "offset": [80, 97]}, {"key": "other-event-of-default", "type": "definition", "offset": [105, 127]}, {"key": "specially-serviced-mortgage-loan", "type": "definition", "offset": [170, 202]}, {"key": "bankruptcy-or-insolvency-event", "type": "definition", "offset": [258, 288]}, {"key": "an-event-of-default", "type": "definition", "offset": [306, 325]}, {"key": "to-the-extent", "type": "clause", "offset": [372, 385]}, {"key": "cure-payment", "type": "definition", "offset": [419, 431]}, {"key": "in-accordance-with", "type": "clause", "offset": [437, 455]}, {"key": "section-11", "type": "definition", "offset": [456, 466]}, {"key": "note-a", "type": "definition", "offset": [519, 525]}, {"key": "cure-rights", "type": "clause", "offset": [553, 564]}], "snippet": "means any Event of Default with respect to an obligation to pay money due under the Mortgage Loan or any other Event of Default that causes the Mortgage Loan to become a Specially Serviced Mortgage Loan (other than as a result of a foreseeable event) or any bankruptcy or insolvency event that constitutes an Event of Default. A Sequential Pay Event shall no longer exist to the extent it has been cured (including any cure payment made in accordance with Section 11) and shall not be deemed to exist to the extent the Note A-B Holder is exercising its cure rights under Section 11.", "size": 19, "samples": [{"hash": "dIHpnPu6qyf", "uri": "/contracts/dIHpnPu6qyf#sequential-pay-event", "label": "Co Lender Agreement (BMO 2023-C4 Mortgage Trust)", "score": 34.1197814941, "published": true}, {"hash": "3OUrtYeIZt4", "uri": "/contracts/3OUrtYeIZt4#sequential-pay-event", "label": "Co Lender Agreement (BBCMS Mortgage Trust 2022-C18)", "score": 33.9500350952, "published": true}, {"hash": "fuqaEol9oJu", "uri": "/contracts/fuqaEol9oJu#sequential-pay-event", "label": "Co Lender Agreement (BBCMS Mortgage Trust 2019-C5)", "score": 30.9000682831, "published": true}], "hash": "11d8631fd075718b28aad4474af83f2b", "id": 6}, {"snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [27, 45]}, {"key": "obligation-to-pay", "type": "clause", "offset": [46, 63]}, {"key": "the-mortgage-loan", "type": "definition", "offset": [80, 97]}, {"key": "other-event-of-default", "type": "definition", "offset": [105, 127]}, {"key": "specially-serviced-loan", "type": "definition", "offset": [170, 193]}, {"key": "default-described", "type": "clause", "offset": [235, 252]}, {"key": "the-definition-of", "type": "definition", "offset": [256, 273]}, {"key": "servicing-transfer-event", "type": "definition", "offset": [274, 298]}, {"key": "lead-securitization-servicing-agreement", "type": "definition", "offset": [306, 345]}, {"key": "bankruptcy-or-insolvency-event", "type": "definition", "offset": [355, 385]}, {"key": "an-event-of-default", "type": "definition", "offset": [403, 422]}, {"key": "to-the-extent", "type": "clause", "offset": [469, 482]}, {"key": "cure-payment", "type": "definition", "offset": [516, 528]}, {"key": "note-a", "type": "definition", "offset": [539, 545]}, {"key": "in-accordance-with", "type": "clause", "offset": [555, 573]}, {"key": "cure-rights", "type": "clause", "offset": [669, 680]}], "snippet": "means any Event of Default with respect to an obligation to pay money due under the Mortgage Loan or any other Event of Default that causes the Mortgage Loan to become a Specially Serviced Loan (other than as a result of a foreseeable default described in the definition of Servicing Transfer Event in the Lead Securitization Servicing Agreement), or any bankruptcy or insolvency event that constitutes an Event of Default. A Sequential Pay Event shall no longer exist to the extent it has been cured (including any cure payment made by a Note A-B Holder in accordance with Section 32) and shall not be deemed to exist to the extent a Note A-B Holder is exercising its cure rights under Section 32.", "size": 15, "samples": [{"hash": "keD7CtpZIee", "uri": "/contracts/keD7CtpZIee#sequential-pay-event", "label": "Co Lender Agreement (CSAIL 2018-C14 Commercial Mortgage Trust)", "score": 29.9089660645, "published": true}, {"hash": "4JFmhhaKDz1", "uri": "/contracts/4JFmhhaKDz1#sequential-pay-event", "label": "Co Lender Agreement (UBS Commercial Mortgage Trust 2018-C12)", "score": 29.6543464661, "published": true}, {"hash": "hvPT7zEhYQt", "uri": "/contracts/hvPT7zEhYQt#sequential-pay-event", "label": "Co Lender Agreement (CSAIL 2018-Cx12 Commercial Mortgage Trust)", "score": 29.6379184723, "published": true}], "hash": "3ac6ae7baf40a4cf4c9506de3b5ea60d", "id": 7}, {"snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [27, 45]}, {"key": "obligation-to-pay", "type": "clause", "offset": [46, 63]}, {"key": "the-mortgage-loan", "type": "definition", "offset": [80, 97]}, {"key": "other-event-of-default", "type": "definition", "offset": [103, 125]}, {"key": "mortgage-loan-is", "type": "definition", "offset": [140, 156]}, {"key": "specially-serviced-mortgage-loan", "type": "definition", "offset": [251, 283]}, {"key": "bankruptcy-or-insolvency-event", "type": "definition", "offset": [292, 322]}, {"key": "an-event-of-default", "type": "definition", "offset": [340, 359]}, {"key": "the-servicer", "type": "definition", "offset": [392, 404]}, {"key": "knowledge-of", "type": "definition", "offset": [419, 431]}, {"key": "applicable-distribution-date", "type": "definition", "offset": [488, 516]}, {"key": "beginning-on-the", "type": "clause", "offset": [558, 574]}, {"key": "subsequent-distribution-date", "type": "definition", "offset": [575, 603]}, {"key": "requirement-of-notice", "type": "clause", "offset": [648, 669]}, {"key": "in-the-case", "type": "clause", "offset": [698, 709]}, {"key": "distribution-of", "type": "clause", "offset": [713, 728]}, {"key": "the-final", "type": "clause", "offset": [729, 738]}, {"key": "disposition-of", "type": "clause", "offset": [774, 788]}, {"key": "to-the-extent", "type": "clause", "offset": [853, 866]}, {"key": "cure-payment", "type": "definition", "offset": [900, 912]}, {"key": "note-a2", "type": "definition", "offset": [925, 932]}, {"key": "note-b-holder", "type": "definition", "offset": [947, 960]}, {"key": "in-accordance-with", "type": "clause", "offset": [961, 979]}, {"key": "section-11", "type": "definition", "offset": [980, 990]}, {"key": "cure-rights", "type": "clause", "offset": [1097, 1108]}], "snippet": "means any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any other Event of Default for which the Mortgage Loan is actually accelerated or any other Event of Default which causes the Mortgage Loan to become a Specially Serviced Mortgage Loan, or any bankruptcy or insolvency event that constitutes an Event of Default; provided, however, that unless the Servicer has notice or knowledge of such event at least ten (10) Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on the subsequent distribution date; provided, further, that the aforementioned requirement of notice or knowledge will not apply in the case of distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A Sequential Pay Event shall no longer exist to the extent it has been cured (including any cure payment made by the Note A2 Holder or the Note B Holder in accordance with Section 11) and shall not be deemed to exist to the extent the Note A2 Holder or the Note B Holder is exercising its cure rights under Section 11 or the default that led to the occurrence of such Sequential Pay Event has otherwise been cured or waived.", "size": 12, "samples": [{"hash": "gFejhduYmTM", "uri": "/contracts/gFejhduYmTM#sequential-pay-event", "label": "Agreement Between Noteholders (GS Mortgage Securities Trust 2019-Gc40)", "score": 30.5222454071, "published": true}, {"hash": "5pS4FH9MTDe", "uri": "/contracts/5pS4FH9MTDe#sequential-pay-event", "label": "Agreement Between Noteholders (Benchmark 2019-B10 Mortgage Trust)", "score": 30.2730998993, "published": true}, {"hash": "flOkJ9lsj7d", "uri": "/contracts/flOkJ9lsj7d#sequential-pay-event", "label": "Agreement Between Noteholders (Benchmark 2018-B4 Mortgage Trust)", "score": 29.5284061432, "published": true}], "hash": "4f7168b6a78f2f2af3b7ed9025301b43", "id": 8}, {"snippet_links": [{"key": "date-of-determination", "type": "definition", "offset": [17, 38]}, {"key": "after-the-occurrence-of-an-event-of-default", "type": "clause", "offset": [44, 87]}, {"key": "termination-of-the-commitments", "type": "clause", "offset": [96, 126]}, {"key": "pursuant-to-section", "type": "definition", "offset": [127, 146]}, {"key": "facility-maturity-date", "type": "definition", "offset": [224, 246]}, {"key": "reinvestment-period", "type": "definition", "offset": [277, 296]}, {"key": "aggregate-adjusted-borrowing-value", "type": "definition", "offset": [306, 340]}, {"key": "assets-held", "type": "clause", "offset": [353, 364]}, {"key": "by-the-borrower", "type": "clause", "offset": [365, 380]}, {"key": "the-final", "type": "clause", "offset": [494, 503]}, {"key": "day-of", "type": "clause", "offset": [504, 510]}], "snippet": "means, as of any date of determination, (i) after the occurrence of an Event of Default and the termination of the Commitments pursuant to Section 7.01, (ii) after the declaration or automatic or scheduled occurrence of the Facility Maturity Date or (iii) after the end of the Reinvestment Period when the aggregate Adjusted Borrowing Value of the Loan Assets held by the Borrower first equals 50% or less of the aggregate Adjusted Borrowing Value of the Loan Assets held by the Borrower as of the final day of the Reinvestment Period.", "size": 7, "samples": [{"hash": "enRX7JCjPXR", "uri": "/contracts/enRX7JCjPXR#sequential-pay-event", "label": "Loan and Servicing Agreement (FS KKR Capital Corp)", "score": 33.8761138916, "published": true}, {"hash": "2AC9Dm53egE", "uri": "/contracts/2AC9Dm53egE#sequential-pay-event", "label": "Loan and Servicing Agreement (FS KKR Capital Corp)", "score": 31.918548584, "published": true}, {"hash": "ZsLeFj48qa", "uri": "/contracts/ZsLeFj48qa#sequential-pay-event", "label": "Loan and Servicing Agreement (FS KKR Capital Corp)", "score": 30.1581115723, "published": true}], "hash": "fae0487cfb475a16e25b2d3e59919660", "id": 9}, {"snippet_links": [{"key": "with-respect-to-an", "type": "clause", "offset": [27, 45]}, {"key": "obligation-to-pay", "type": "clause", "offset": [46, 63]}, {"key": "the-mortgage-loan", "type": "definition", "offset": [80, 97]}, {"key": "other-event-of-default", "type": "definition", "offset": [103, 125]}, {"key": "mortgage-loan-is", "type": "definition", "offset": [140, 156]}, {"key": "specially-serviced-mortgage-loan", "type": "definition", "offset": [251, 283]}, {"key": "bankruptcy-or-insolvency-event", "type": "definition", "offset": [292, 322]}, {"key": "an-event-of-default", "type": "definition", "offset": [340, 359]}, {"key": "the-servicer", "type": "definition", "offset": [392, 404]}, {"key": "servicing-agreement", "type": "clause", "offset": [415, 434]}, {"key": "knowledge-of", "type": "definition", "offset": [449, 461]}, {"key": "applicable-distribution-date", "type": "definition", "offset": [518, 546]}, {"key": "beginning-on-the", "type": "clause", "offset": [588, 604]}, {"key": "subsequent-distribution-date", "type": "definition", "offset": [605, 633]}, {"key": "requirement-of-notice", "type": "clause", "offset": [678, 699]}, {"key": "in-the-case", "type": "clause", "offset": [728, 739]}, {"key": "distribution-of", "type": "clause", "offset": [743, 758]}, {"key": "the-final", "type": "clause", "offset": [759, 768]}, {"key": "disposition-of", "type": "clause", "offset": [804, 818]}], "snippet": "means any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any other Event of Default for which the Mortgage Loan is actually accelerated or any other Event of Default which causes the Mortgage Loan to become a Specially Serviced Mortgage Loan, or any bankruptcy or insolvency event that constitutes an Event of Default; provided, however, that unless the Servicer under the Servicing Agreement has notice or knowledge of such event at least ten (10) Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on the subsequent distribution date; provided, further, that the aforementioned requirement of notice or knowledge will not apply in the case of distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A Sequential Pay Event shall no longer exist if it has been cured.", "size": 5, "samples": [{"hash": "8no17OsOINl", "uri": "/contracts/8no17OsOINl#sequential-pay-event", "label": "Agreement Between Noteholders (CSAIL 2019-C18 Commercial Mortgage Trust)", "score": 30.9438743591, "published": true}, {"hash": "58WrU8Q5mrs", "uri": "/contracts/58WrU8Q5mrs#sequential-pay-event", "label": "Agreement Between Noteholders (BBCMS Mortgage Trust 2019-C5)", "score": 30.9000682831, "published": true}, {"hash": "bYZLwqFdBkf", "uri": "/contracts/bYZLwqFdBkf#sequential-pay-event", "label": "Agreement Between Noteholders (BBCMS Mortgage Trust 2020-C7)", "score": 29.4804935455, "published": true}], "hash": "6d232d09ca9f41cc83a220682f11ed03", "id": 10}], "next_curs": "CmESW2oVc35sYXdpbnNpZGVyY29udHJhY3Rzcj0LEhpEZWZpbml0aW9uU25pcHBldEdyb3VwX3Y1NiIdc2VxdWVudGlhbC1wYXktZXZlbnQjMDAwMDAwMGEMogECZW4YACAA", "definition": {"title": "Sequential Pay Event", "snippet": "means any Event of Default with respect to an obligation to pay money due under the Mortgage Loan, any other Event of Default for which the Mortgage Loan is actually accelerated or any other Event of Default which causes the Mortgage Loan to become a Specially Serviced Loan, or any bankruptcy or insolvency event that constitutes an Event of Default; provided, however, that unless the Servicer has notice or knowledge of such event at least ten (10) Business Days prior to the applicable distribution date, distributions will be made sequentially beginning on the subsequent distribution date; provided, further, that the aforementioned requirement of notice or knowledge will not apply in the case of distribution of the final proceeds of a liquidation or final disposition of the Mortgage Loan. A Sequential Pay Event shall no longer exist to the extent it has been cured (including any cure payment made by the Note B Holder in accordance with Section 11) and shall not be deemed to exist to the extent the Note B Holder is exercising its cure rights under Section 11 or the default that led to the occurrence of such Sequential Pay Event has otherwise been cured or waived.", "size": 339, "id": "sequential-pay-event", "examples": ["Upon the occurrence of a <strong>Sequential Pay Event</strong>, the Indenture Trustee shall withdraw all amounts on deposit in the General Reserve Account and shall deposit such amounts to the Collection Account for distribution in accordance with Section 6.6 hereof.", "Upon the occurrence of a Trigger Event or <strong>Sequential Pay Event</strong>, the Indenture Trustee shall withdraw all amounts on deposit in the General Reserve Account and shall deposit such amounts to the Collection Account for distribution in accordance with Section 3.4 or Section 6.6 hereof, as applicable.", "Upon the occurrence of a <strong>Sequential Pay Event</strong>, the Indenture Trustee shall withdraw all amounts on deposit in the General Reserve Account and shall deposit such amounts into the Collection Account for distribution in accordance with Section 6.6 hereof.", "Upon the occurrence of a Trigger Event or <strong>Sequential Pay Event</strong>, the Indenture Trustee shall withdraw all amounts on deposit in the General Reserve Account and shall deposit such amounts into the Collection Account for distribution in accordance with Section 3.4 or Section 6.6 hereof, as applicable.", "Upon the occurrence of a <strong>Sequential Pay Event</strong>, the Indenture Trustee shall withdraw all amounts on deposit in the General Reserve Account and shall deposit such amounts to the Collection Account for distribution in accordance with Section 3.4(d) hereof.", "Upon the occurrence of a <strong>Sequential Pay Event</strong>, the Indenture Trustee shall withdraw all amounts on deposit in the Senior Reserve Account and shall deposit such amounts to the Collection Account for distribution to the Noteholders in accordance with Section 3.4(d) hereof.", "Notwithstanding the occurrence and continuation of an Event of Default, prior to the occurrence of a Payment Default Event or <strong>Sequential Pay Event</strong>, Noteholders shall continue to be paid in the manner and priorities described in Section 3.4(a) hereof.", "Junior Participant represents and warrants to Senior Participant that to the knowledge of Junior Participant (but without having undertaken any efforts to confirm such representation and warranty) as of the date hereof, there is no Event of Default under the Mortgage Loan and a <strong>Sequential Pay Event</strong> does not exist.", "Except if a <strong>Sequential Pay Event</strong> or Event of Default shall have occurred, on any Payment Date, if amounts on deposit in the Senior Reserve Account are greater than the Senior Reserve Account Cap (after giving effect to all other distributions and disbursements on such Payment Date), the Indenture Trustee shall, based on the Monthly Servicer Report, withdraw funds in excess of the Senior Reserve Account Cap from the Senior Reserve Account and disburse such amounts to the Issuer.", "Upon the occurrence of a <strong>Sequential Pay Event</strong>, the Indenture Trustee shall withdraw all amounts on deposit in the Reserve Account and shall deposit such amounts to the Collection Account for distribution in accordance with Section 6.6 hereof."], "related": [["sequential-trigger-event", "Sequential Trigger Event", "Sequential Trigger Event"], ["potential-amortization-event", "Potential Amortization Event", "Potential Amortization Event"], ["reverse-sequential-order", "Reverse Sequential Order", "Reverse Sequential Order"], ["rapid-amortization-event", "Rapid Amortization Event", "Rapid Amortization Event"], ["amortization-event", "Amortization Event", "Amortization Event"]], "related_snippets": [], "updated": "2025-12-16T05:37:56+00:00"}, "json": true, "cursor": ""}}