Common use of Additional Requirements for Transfers of Borrower Interests Clause in Contracts

Additional Requirements for Transfers of Borrower Interests. In addition to other conditions set forth in subsection (g), if (i) the affected Mortgage Loan is a Pooled Mortgage Loan that, together with all other Pooled Mortgage Loans, if any, that are in the same Cross-Collateralized Group as such Pooled Mortgage Loan or have the same Borrower as such Pooled Mortgage Loan or have Borrowers that are known to be affiliated with the Borrower under such Pooled Mortgage Loan, has a Stated Principal Balance that equals or exceeds 5% of the then aggregate Stated Principal Balance of the Mortgage Pool or is one of the then current top ten Pooled Mortgage Loans (by Stated Principal Balance) in the Mortgage Pool or has a Cut-off Date Principal Balance in excess of $20,000,000, and (ii) the transfer is of an interest in the Borrower greater than 49%, then the applicable Master Servicer shall not consent to such transfer unless and until it has received written confirmation from each Rating Agency that such action would not result in an Adverse Rating Event with respect to any Class of Certificates, the costs of which to be payable by the related Borrower to the extent provided for in the Mortgage Loan Documents.

Appears in 7 contracts

Samples: Primary Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2007-Pwr16), Primary Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2007-Pwr18), Primary Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2006-Pwr13)

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