Specially Serviced Mortgage Loan definition

Specially Serviced Mortgage Loan means the Mortgage Loan during the period it is serviced by the Special Servicer following a Servicing Transfer Event.

Specially Serviced Mortgage Loan shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

Specially Serviced Mortgage Loan. A Mortgage Loan that is, or is part of, a Specially Serviced Loan.

Examples of Specially Serviced Mortgage Loan in a sentence

• The Special Servicer shall notify the Master Servicer of each such amount received on or before the date required for the making of such deposit or transfer, as the case may be, indicating the Mortgage Loan or Specially Serviced Mortgage Loan to which the amount is to be applied and the type of payment made by or on behalf of the related Mortgagor.

• The Servicer shall not be required to expend its own funds in connection with any foreclosure or towards the restoration, repair, protection or maintenance of any property unless it shall determine that such expenses will be recoverable to it as Servicing Advances either through Liquidation Proceeds or through Insurance Proceeds (in accordance with Section 5.05) or from any other source relating to the Specially Serviced Mortgage Loan.

• Each Mortgage Loan that becomes a Specially Serviced Mortgage Loan shall continue as such until such Mortgage Loan becomes a Rehabilitated Mortgage Loan.

• The Special Servicer shall be entitled to receive a Liquidation Fee from the Liquidation Proceeds received in connection with a Specially Serviced Mortgage Loan or REO Property.

• Any sale of a Specially Serviced Mortgage Loan or any REO Disposition shall be without recourse to, or representation or warranty by, the Purchaser or the Servicer, and, if consummated in accordance with the terms of this Agreement, then the Servicer shall have no liability to the Purchaser with respect to the purchase price therefor accepted by the Purchaser.

More Definitions of Specially Serviced Mortgage Loan

Specially Serviced Mortgage Loan. Any Mortgage Loan as to which any of the following events has occurred:

Specially Serviced Mortgage Loan. As defined in Section 3.01(a).

Specially Serviced Mortgage Loan. A Mortgage Loan as to which a Servicing Event has occurred and is continuing.

Specially Serviced Mortgage Loan means the Mortgage Loan if:

Specially Serviced Mortgage Loan means “Specially Serviced Mortgage Loan” as defined in the Lead Securitization Servicing Agreement.

Specially Serviced Mortgage Loan means, as of any date of determination, any Mortgage Loan (other than any Non-Serviced Mortgage Loan), Serviced Companion Loan or B Note with respect to which the Master Servicer has notified the parties set forth in Section 8.1(b) that a Servicing Transfer Event has occurred, and the Special Servicer has received all information, documents and records relating to such Mortgage Loan, Serviced Companion Loan or B Note as reasonably requested by the Special Servicer to enable it to assume its duties with respect to such Mortgage Loan, Serviced Companion Loan or B Note. A Specially Serviced Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan from and after the date on which the Special Servicer notifies the parties set forth in Section 8.1(b), that such Mortgage Loan has become a Rehabilitated Mortgage Loan with respect to all applicable Servicing Transfer Events and the Master Servicer has received all information, documents and records reasonably requested by it to enable it to perform its servicing duties in respect of such Mortgage Loan, unless and until the Master Servicer notifies the parties set forth in Section 8.1(b) that another Servicing Transfer Event with respect to such Mortgage Loan, Serviced Companion Loan or B Note exists or occurs.

Specially Serviced Mortgage Loan shall have the meaning given thereto (or other analogous term) in the Lead Securitization Servicing Agreement.