Multifamily Loan Group definition

Multifamily Loan Group means a loan group comprised of the multifamily mortgages and mortgages on manufactured housing parks identified as Loan Group 2 on the Mortgage Loan Schedule. The term "Multifamily Representation" shall mean each of the representations and warranties made by the Seller with respect to any Mortgage Loan in the Multifamily Loan Group in clause (48) of Exhibit B.
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Examples of Multifamily Loan Group in a sentence

  • The Mortgage Loan documents for each mortgage in the Multifamily Loan Group contain covenants that prohibit a change of use of the Mortgaged Property securing such mortgage without the mortgagee's prior consent.

  • For each Mortgaged Property financed by a Mortgage in the Multifamily Loan Group, a certificate of occupancy has been collected or confirmation that the certificate of occupancy has been issued by the appropriate authority has been obtained.

  • Each Mortgage in the Multifamily Loan Group is secured by a Mortgaged Property or properties each of which contains at least five dwelling units.

  • Each Mortgaged Property financed by a Mortgage in the Multifamily Loan Group that is secured by a newly-constructed property has achieved a percentage of physical occupancy of more than 65% as indicated in Annex A to the Prospectus Supplement.

  • For purposes of this Section 5(a) and other related provisions of this Agreement, a breach of any Multifamily Representation with respect to a Mortgage Loan in the Multifamily Loan Group shall be deemed to materially and adversely affect the value of the Mortgage Loan or the related Mortgaged Property or the interests of the Purchaser in such Mortgage Loan and shall constitute a Material Breach.

  • Each Mortgage Loan in the Multifamily Loan Group is secured by a Mortgaged Property or properties each of which contains at least five dwelling units.

  • The Mortgage Loan documents for each Mortgage Loan in the Multifamily Loan Group contains covenants that prohibit a change of use of the related Mortgaged Property without the mortgagee's prior consent.

  • Each Mortgaged Property financed by a Mortgage in the Multifamily Loan Group that is secured by a newly-constructed property has achieved a percentage of physical occupancy of more than 65% as indicated in Annex C-1 to the Prospectus Supplement.

  • No Mortgage Loan in the Multifamily Loan Group is secured by a Mortgage on a manufactured housing park with respect to which the aggregate gross income from homesites for dwelling units that are not permanently attached to homesites, such as recreational vehicles, does not exceed 20% of the estimated total gross income.

  • Each Mortgaged Property securing a Mortgage Loan in Loan Group No. 2 (the "Multifamily Loan Group") is located in the United States or in its territories (Puerto Rico, the U.S. Virgin Islands, Guam).

Related to Multifamily Loan Group

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group II-A Distribution Amount for the Class II-A-7 Certificates required to be distributed to Holders of the Class II-A-7 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group II-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class II-A-7 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class II-A-7 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Group II Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans.

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

  • Group I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Loan Group 4 The Group 4 Mortgage Loans.

  • Loan Group 5 The Group 5 Mortgage Loans.

  • Loan Group Any of Loan Group 1 or Loan Group 2, as applicable.

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

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

  • Loan Group II The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group II.

  • Loan Group III The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group III.

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

  • Loan Group 1 All Mortgage Loans identified as Loan Group 1 Mortgage Loans on the Mortgage Loan Schedule.

  • Related Loan Group For Group 1, Loan Group 1; for Group 2, Loan Group 2; for Group 3, Loan Group 3; and for Group 4, Loan Group 4.

  • Loan Group I The group of Mortgage Loans identified in the Mortgage Loan Schedule as having been assigned to Loan Group I.

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

  • Mortgage Loan Group Either Group I or Group II.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • Loan Group 2 All Mortgage Loans identified as Loan Group 2 Mortgage Loans on the Mortgage Loan Schedule.

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

  • Loan Group 3 The Group 3 Mortgage Loans.