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

Examples of Underlying Borrower in a sentence

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.

Harvest shall not be required to obtain and provide all such PMRs or other reports for the same period or at the same time during the calendar year so long as one such PMR or other report is provided for each Underlying Loan and Underlying Borrower (x) within twelve (12) months of the date of the Advance in conjunction with which such Underlying Loan was pledged to Agent, and (y) within each subsequent twelve (12) month period thereafter.

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

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.

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.


More Definitions of Underlying Borrower

Underlying Borrower means the borrower with respect to an 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 each borrower or maker or obligor under any Underlying Financing and each cosigner thereof.
Underlying Borrower means the obligor on an Underlying Note and the grantor of the related Underlying Mortgage.
Underlying Borrower means with respect to any Approved Financing, as applicable, the Person identified in the applicable Underlying Financing Specification as an “Underlying Borrower”, which shall include, for the avoidance of doubt, the Land Lease Borrower and the Amortizing Borrower.