Defeasance Event definition

Defeasance Event shall have the meaning set forth in Section 2.5.1(a) hereof.

Defeasance Event shall have the meaning set forth in SECTION 2.5.1(A).

Defeasance Event means a Total Defeasance Event or a Partial Defeasance Event, as applicable.

Examples of Defeasance Event in a sentence

• If the Issuer designates a Fund Defeasance Event, it will declare a Defeasance Date.

• Fungal airborne particulateA total spore concentration of 1372 spores m−3 (avg.) was detected through the year, the lowest values characterizing winter months (avg.

• Upon the occurrence of a Defeasance Event, no hypothetical funds will be allocated to the Basket Units for the remaining term of the PROCEEDS, even if at the close of business on that Business Day the value of the Cushion is greater than 1%.

• All cash from interest and principal payments paid on the Defeasance Collateral shall be paid over to Lender on each Monthly Payment Date and applied first to accrued and unpaid interest and then to principal (under the Note, in connection with a Total Defeasance Event, or the Defeased Note, in connection with a Partial Defeasance Event).

• Any cash from interest and principal paid on the Defeasance Collateral not needed to pay the Scheduled Defeasance Payments (or with respect to a Partial Defeasance Event, the Partial Defeasance Scheduled Defeasance Payments) shall be paid to Borrower or Successor Borrower (as applicable).

More Definitions of Defeasance Event

Defeasance Event has the meaning assigned in Section 2.4(b).

Defeasance Event shall the Total Defeasance Event or the Partial Defeasance Event as the context may require.

Defeasance Event. As defined in the Mortgage Loan Agreement

Defeasance Event shall have the meaning set forth in Section 2.4 hereof.

Defeasance Event has the meaning set forth in Section 10(a) of the Note.

Defeasance Event. Permitted Release Date," "Scheduled Defeasance Payments," and "Successor Borrower."

Defeasance Event means any of the following events: (i) the Depositor is obligated to repurchase a Membership Interest pursuant to the Sale Agreement and has elected to satisfy such repurchase obligation by defeasing such Membership Interest, (ii) any Lessee has notified the related Land Lease Entity in writing that such Lessee desires to prepay the remaining Scheduled Lease Payments with respect to the related Land Lease Asset and terminate the related Land Lease Asset Documents, or (iii) any Lessee has defaulted (or the Servicer has determined in its good faith business judgment that any Lessee will default) in the payment of one or more Scheduled Lease Payments with respect to the related Land Lease Asset.