Specially Serviced Loan definition

Specially Serviced Loan. Any Serviced Loan (including a related REO Mortgage Loan or REO Companion Loan) as to which any of the following events has occurred:
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Specially Serviced Loan. Any Serviced Loan (including a related REO Mortgage Loan or REO Companion Loan) as to which any of the following events has occurred (taking into account any cure rights of any related Serviced Subordinate Companion Loan Holder under the related Co-Lender Agreement.):
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Specially Serviced Loan shall have the meaning assigned to the term “specially serviced loan” or “specially serviced mortgage loan” in the Servicing Agreement or such other analogous term used in the Servicing Agreement.
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Examples of Specially Serviced Loan in a sentence

  • The Primary Servicer shall promptly notify the Master Servicer of any event or circumstance that the Primary Servicer deems will or would cause any Mortgage Loan or Serviced Companion Loan to become a Specially Serviced Loan.

  • If a Specially Serviced Loan becomes a Corrected Loan, the Primary Servicer shall commence servicing such Corrected Loan pursuant to the terms of this Agreement.

  • The Primary Servicer shall continue to process payments and maintain ongoing payment records with respect to each Mortgage Loan and Serviced Companion Loan that becomes a Specially Serviced Loan or an REO Property and shall timely provide the Master Servicer and the Special Servicer with any information required by either to perform their respective duties under the Pooling and Servicing Agreement.

  • Upon receipt by the Master Servicer of notice from the Special Servicer that a Specially Serviced Loan has become a Corrected Loan, the Master Servicer shall promptly give the Primary Servicer notice thereof and the obligation of the Primary Servicer to service and administer such Mortgage Loan and, if applicable, the Serviced Companion Loans shall resume.

  • Pursuant to Section 3.01(c)(18) of this Agreement, the Primary Servicer shall be entitled to receive the Primary Servicing Fee for so long as the Master Servicer receives its Servicing Fee, with respect to each Specially Serviced Loan.


More Definitions of Specially Serviced Loan

Specially Serviced Loan. The Whole Loan during the occurrence of a Special Servicing Loan Event.
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Specially Serviced Loan shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or such other analogous term used in the Lead Securitization Servicing Agreement.
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Specially Serviced Loan shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.
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Specially Serviced Loan. (other than by reason of a Liquidation Event occurring in respect of such Serviced Loan or a related Mortgaged Property becoming an REO Property).
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Specially Serviced Loan. Any Serviced Loan as to which there then exists a Servicing Transfer Event. Upon the occurrence of a Servicing Transfer Event with respect to any Serviced Loan, such Serviced Loan shall remain a Specially Serviced Loan until the earliest of (i) its removal from the Trust Fund (in the case of a Mortgage Loan), (ii) a REO Acquisition with respect to the related Mortgaged Property and (iii) the cessation of all existing Servicing Transfer Events with respect to such Serviced Loan.
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Specially Serviced Loan shall (I) prior to the Lead Securitization Date, mean the Mortgage Loan (including a related REO Loan if any of the following events has occurred (taking into account any cure rights of the Note B-1 Holder and Note B-2 Holder hereunder):
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Specially Serviced Loan means any Serviced Loan as to which any of the following events has occurred:
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