MGM Grand & Mandalay Bay Mortgage Loan definition

MGM Grand & Mandalay Bay Mortgage Loan. The Mortgage Loan secured by the Mortgaged Property identified on the Mortgage Loan Schedule as MGM Grand & Mandalay Bay.

Examples of MGM Grand & Mandalay Bay Mortgage Loan in a sentence

  • Notwithstanding anything to the contrary herein, the Mortgage Loan Seller’s obligation in respect of a Material Defect with respect to the MGM Grand & Mandalay Bay Mortgage Loan shall be solely in respect of the Mortgage Loan Seller’s pro rata share of the MGM Grand & Mandalay Bay Mortgage Loan based on the Mortgage Loan Seller’s percentage interest as of the date hereof in the MGM Grand & Mandalay Bay Mortgage Loan.

  • If the Mortgage Note with respect to the MGM Grand & Mandalay Bay Mortgage Loan in favor of the Mortgage Loan Seller and its successors and assigns is repurchased or replaced by the Mortgage Loan Seller pursuant to this Section 5(a), and the other related mortgage note evidencing the MGM Grand & Mandalay Bay Mortgage Loan is not repurchased or replaced by Barclays Capital Real Estate Inc.

  • The Underwriting Instructions and Adjustmentsfor each Top 20 Mortgage Loan (as applicable) (except for the MGM Grand & Mandalay Bay Mortgage Loan, Millennium Corporate Park Mortgage Loan and the TTM Period for the 711 Fifth Avenue Mortgage Loan), we compared the physical occupancy rate for each Historical Period in the Source Documents listed above (as applicable) to the corresponding physical occupancy rates on the Underwriting File.

  • The Underwriting Instructions and Adjustmentsfor each Top 20 Mortgage Loan (as applicable), we compared the physical occupancy rate for each Historical Period (except for the MGM Grand & Mandalay Bay Mortgage Loan) in the Source Documents listed above (as applicable) to the corresponding physical occupancy rates on the Underwriting File.

  • The MGM Grand & Mandalay Bay Mortgage Loan is part of a Whole Loan that was co-originated by the Seller, Barclays Capital Real Estate Inc., Deutsche Bank AG, New York Branch and Societe Generale Financial Corporation.

  • Not perform the procedure described above for the TTM Period for the MGM Grand & Mandalay Bay Mortgage Loan, the 2017 Historical Period for the Pittock Block Mortgage Loan, the Historical 3 Year Period for the Station Park & Station Park West Mortgage Loan and the 2018 Historical Period for the Treasure Valley Marketplace Mortgage Loan.

  • The Underwriting Instructions and Adjustmentsfor each Top 15 Mortgage Loan (as applicable) (except for the MGM Grand & Mandalay Bay Mortgage Loan and Millennium Corporate Park Mortgage Loan), we compared the physical occupancy rate for each Historical Period in the Source Documents listed above (as applicable) to the corresponding physical occupancy rates on the Underwriting File.

  • Net operating income or net cash flow for each Specified Period (except for the TTM Period for the MGM Grand & Mandalay Bay Mortgage Loan, the 2017 Historical Period for the Pittock Block Mortgage Loan, the Historical 3 Year Period for the Station Park & Station Park West Mortgage Loan and the 2018 Historical Period for the Treasure Valley Marketplace Mortgage Loan) that is shown in the Source Documents listed above (as applicable) to the corresponding information on the Underwriting File.

  • The Seller is only selling to the Purchaser the related Mortgage Note(s) in favor of the Seller (or one of its affiliates) and its successors and assigns in the original principal amount of $50,000,000 with respect to the MGM Grand & Mandalay Bay Mortgage Loan, representing the 66.7% pari passu interest of the Seller in the MGM Grand & Mandalay Bay Mortgage Loan (and only such Mortgage Note(s) will constitute a “Mortgage Loan” or “Mortgage Note(s)” hereunder).

  • Not perform the procedure described above for the TTM Period for the MGM Grand & Mandalay Bay Mortgage Loan and the 2017 Historical Period for the Pittock Block Mortgage Loan.

Related to MGM Grand & Mandalay Bay Mortgage Loan

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • Park Monaco Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Monaco is the applicable Seller.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which Seller is selling to Buyer simultaneously with the origination thereof.

  • Jumbo Mortgage Loan means a Mortgage Loan that would otherwise be a Conforming Mortgage Loan secured by a first Lien Mortgage except that the original principal amount is more than the maximum Agency loan amount but not more than One Million Dollars ($1,000,000).

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • GreenPoint Mortgage Loans The Mortgage Loans for which GreenPoint is listed as "Servicer" on the Mortgage Loan Schedule.

  • Group I Mortgage Loan A Mortgage Loan assigned to Loan Group I. All Group I Mortgage Loans have a principal balance at origination that conforms to Xxxxxxx Mac loan limits.

  • REO Mortgage Loan Any Mortgage Loan which is not a Liquidated Loan and as to which the indebtedness evidenced by the related Mortgage Note is discharged and the related Mortgaged Property is held as part of the Trust Estate.

  • Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.

  • Premium Mortgage Loan Any Group 1 Premium Mortgage Loan or Group 2 Premium Mortgage Loan.

  • Countrywide Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Countrywide is the applicable Seller.

  • Subsequent Mortgage Loan A Mortgage Loan sold by the Depositor to the Trust Fund pursuant to Section 2.08, such Mortgage Loan being identified on the Mortgage Loan Schedule attached to a Subsequent Transfer Instrument.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • Special Serviced Mortgage Loan The Mortgage Loans for which the Special Servicer acts as servicer pursuant to Section 3.19.

  • Class P Mortgage Loan Any of the Class I-P, Class II-P or Class III-P Mortgage Loans.

  • Original Mortgage Loan The mortgage loan refinanced in connection with the origination of a Refinancing Mortgage Loan.

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • Performing Mortgage Loan Any Mortgage Loan or Serviced Pari Passu Companion Loan that is not a Specially Serviced Mortgage Loan.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Initial Mortgage Loan A Mortgage Loan conveyed to the Trust Fund on the Closing Date pursuant to this Agreement as identified on the Mortgage Loan Schedule delivered to the Trustee on the Closing Date.

  • High Cost Home Mortgage Loan as defined in the Massachusetts Predatory Home Loan Practices Act effective November 7, 2004 or (iv) a "High-Cost Home Loan" as defined by the Indiana High Cost Home Loan Law effective January 1, 2005.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • ARD Mortgage Loan Any Mortgage Loan that is identified as having an Anticipated Repayment Date and a Revised Rate on the Mortgage Loan Schedule.