Substitute Loan Asset definition

Substitute Loan Asset has the meaning set forth in Section 2.2(a).
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Substitute Loan Asset means any Loan Asset which is substituted for an Ineligible Loan Asset pursuant to Section 2.4(c), which satisfies each of the following conditions: (a) the aggregate Adjusted Borrowing Value of such Loan Asset shall be equal to or greater than the Adjusted Borrowing Value of the Loan Asset to be replaced; (b) all representations and warranties of the Borrower with respect to such Loan Asset contained in Section 4.1(y) shall be true and correct as of the Substitution Date of any such Substitute Loan Asset; (c) the substitution of any Substitute Loan Asset does not cause a Default or an Event of Default to occur; and (d) as of the date on which such Loan Asset becomes part of the Collateral, the Weighed Average FMV Test is satisfied; provided that if immediately prior to such date, the Weighed Average FMV Test was not satisfied, such test is maintained or improved after giving effect to the inclusion of such Loan Asset in the Collateral.
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Substitute Loan Asset in accordance with and subject to the requirements of the Indenture, including Section 12.3
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Related to Substitute Loan Asset

  • Loan Asset means each commercial loan identified on Schedule A hereto, and each commercial loan identified on any Purchase Notice.

  • Eligible Mortgage Loan means, on any date of determination, a Mortgage Loan:

  • Substitute Servicing Agreement means a servicing agreement that contains servicing provisions which are the same as or more favorable to the Non-Lead Noteholders, in substance, to those in the Servicing Agreement (including, without limitation, all applicable provisions relating to delivery of information and reports necessary for any Non-Lead Securitization to comply with any applicable reporting requirements under the Securities Exchange Act of 1934, as amended) and all references herein to the “Servicing Agreement” shall mean such subsequent servicing agreement; provided, however, that if a Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have been obtained from each Rating Agency with respect to such subsequent servicing agreement.

  • Mortgage Loan Borrower shall have the meaning assigned to such term in the recitals.

  • Securitization Asset means (a) any accounts receivable, mortgage receivables, loan receivables, royalty, franchise fee, license fee, patent or other revenue streams and other rights to payment or related assets and the proceeds thereof and (b) all collateral securing such receivable or asset, all contracts and contract rights, guarantees or other obligations in respect of such receivable or asset, lockbox accounts and records with respect to such account or asset and any other assets customarily transferred (or in respect of which security interests are customarily granted) together with accounts or assets in connection with a securitization, factoring or receivable sale transaction.