Examples of Split Mortgage Loan in a sentence
In connection therewith: (a) the 200 Park Avenue Mortgage Loan and the Courtyard by Marriott Portfolio Mortgage Loan are sometimes referred to as the "Split Mortgage Loans"; (b) the respective Pooled Components of the Split Mortgage Loans are sometimes referred to as the "Split Mortgage Loan Pooled Components"; and (c) the respective Non-Pooled Components of the Split Mortgage Loans are sometimes referred to as the "Split Mortgage Loan Non-Pooled Components".
For any Distribution Date, if the weighted average of certain net interest rates on the Mortgage Loans (or, in the case of the Split Mortgage Loans, solely on the respective Split Mortgage Loan Pooled Components) is less than a specified fixed rate for the subject Class, then the applicable pass-through rate in effect for that Class will equal that weighted average net interest rate.
The respective Split Mortgage Loan Pooled Components will be pooled with the other Mortgage Loans to back the Certificates, excluding the Loan-Specific Certificates, and payments and other collections on the Split Mortgage Loan Non-Pooled Components will not be available to make payments on any of the Certificates, other than the Loan-Specific Certificates.
The Courtyard by Marriott Portfolio Mortgage Loan is a Split Mortgage Loan with a senior Pooled Component (the “Courtyard by Marriott Portfolio Pooled Component”) and a junior Non-Pooled Component (the “Courtyard by Marriott Portfolio Non-Pooled Component”).
Any transfer of Mortgage Loans or the Oakmonte Junior Portion, except in the case of the Split Mortgage Loans, pursuant to this paragraph shall be on a servicing-released basis; and, if any Mortgage Loan purchased pursuant to this Section 9.01 is a Split Mortgage Loan, the release, endorsement or assignment of the documents constituting the related Mortgage File and Servicing File shall be in the manner contemplated by Section 3.25 hereof.