VRR Interest definition
Examples of VRR Interest in a sentence
Beneficial ownership of the assets of the Trust (such assets collectively, the “Trust Fund”) will be evidenced by a series of mortgage pass-through certificates (the “Certificates”) and the VRR Interest.
In connection with its transfer of the Mortgage Loans to the Trust as contemplated by the recitals hereto, the Purchaser is expressly authorized to assign its rights under this Agreement, in whole or in part, to the Trustee for the benefit of the registered holders and beneficial owners of the Certificates and the VRR Interest Owners.
The Trust will be created and the Certificates and the VRR Interest will be issued pursuant to a pooling and servicing agreement to be dated as of April 1, 2026 (the “Pooling and Servicing Agreement”), among ▇.▇.
To the extent of any such assignment, the Trustee, for the benefit of the registered holders and beneficial owners of the Certificates and the VRR Interest Owners, shall be the Purchaser hereunder.
If such Loss of Value Payment is made, the Loss of Value Payment shall serve as the sole remedy available to the Certificateholders, the VRR Interest Owners and the Trustee on their behalf regarding any such Material Defect in lieu of any obligation of the Responsible Repurchase Party to otherwise cure such Material Defect or repurchase or substitute for the affected Mortgage Loan based on such Material Defect under any circumstances.
As provided in the Pooling and Servicing Agreement, withdrawals from the Collection Account shall be made from time to time for purposes other than distributions to Certificateholders and the VRR Interest Owners, such purposes including reimbursement of certain expenses incurred with respect to the servicing of the Mortgage Loans and administration of the Trust Fund.
As provided in the Pooling and Servicing Agreement, the Collection Account and the Distribution Accounts will be held on behalf of the Trustee for the benefit of the Holders of Certificates and the VRR Interest Owners specified in the Pooling and Servicing Agreement and the Master Servicer (with respect to the Collection Account) or the Certificate Administrator (with respect to the Distribution Accounts) will be authorized to make withdrawals therefrom.
The Purchaser intends to sell the Non-Registered Certificates (other than the VRR Interest) to JPMS, MS&Co., WFS, BofA Securities, Academy and Drexel (collectively in such capacity, the “Initial Purchasers”) pursuant to a certificate purchase agreement, dated as of the date hereof (the “Certificate Purchase Agreement”), among the Purchaser, JPMCB and the Initial Purchasers.
The Certificates and the VRR Interest will evidence in the aggregate 100% of the beneficial ownership of the Trust Fund.
Computershare Trust Company, National Association, as Trustee for the benefit of the registered holders of BANK5 2026-5YR21, Commercial Mortgage Pass-Through Certificates, Series 2026-5YR21 and the related VRR Interest Owners By: Name: Title: Witness: Witness: STATE OF MARYLAND ) ) SS.