Underlying Borrower definition

Underlying Borrower means, with respect to any Purchased Asset that is a Mortgage Loan, the Mortgagor, and with respect to any Purchased Asset that is a Mezzanine Loan, the Mezzanine Borrower.

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Underlying Borrower means the borrower with respect to an Underlying Loan.

Underlying Borrower means, with respect to an Underlying Loan, the issuer(s) or obligor(s) and any guarantor thereof pursuant to the terms of the related Underlying Loan Documents.

Examples of Underlying Borrower in a sentence

• The Issuer will at all times or will cause the Underlying Borrowers to preserve, warrant and defend the Trustee's title and right in and to the property included in the Collateral against the claims of all Persons claiming by or through the Issuer or any Underlying Borrower, subject to the Permitted Exceptions.

• Any and all collateral granted or available to Borrower to secure the payment by an Applicable Underlying Borrower of all principal, interest, and other amounts owed to Borrower by such Applicable Underlying Borrower in connection with an Applicable Underlying Loan.

• In addition, notwithstanding the foregoing, the Special Servicer may take action prior to the lapse of either such 10-day period if it determines, in accordance with the Servicing Standards, that such action is required by the Servicing Standards in order to avoid a material adverse effect on the Holders or is in the nature of an emergency, and shall have no liability to the Issuer, any Underlying Borrower, any party or any Holder for taking any such action that meets the foregoing standards.

• There shall be one Underlying Borrower Loans’ Batch for each Loan Agreement.

• For purposes of this paragraph, an assignment, sale, or transfer shall also include the transfer of any stock of the Applicable Underlying Borrower other than to an existing shareholder thereof.

More Definitions of Underlying Borrower

Underlying Borrower means any borrower or other obligor with respect to any Underlying Loan.

Underlying Borrower means each Person identified as such, or Underlying Borrower Guarantor, in each case, under each Underlying Financing as identified in the applicable Underlying Financing Specification.

Underlying Borrower means the obligor on an Underlying Note and the grantor of the related Underlying Mortgage.

Underlying Borrower each borrower or maker or obligor under any Underlying Financing and each cosigner thereof.

Underlying Borrower means [________________], a(n) [________________].

Underlying Borrower means (a) in the case of any Pledged Asset that is a Mortgage Loan or a Mezzanine Loan, the obligor under a note or credit agreement, (b) in the case of a Mortgage Loan, the grantor of the related Mortgage, and (c) in the case of a Junior Interest the obligor under the note, loan agreement or credit agreement evidencing the loan in which such Junior Interest is granted.

Underlying Borrower means any borrower or obligor referenced or made a party to the Security Documents listed in Exhibit 3, attached hereto and made a part hereof.