Common use of Due-on-Encumbrance Clause in Contracts

Due-on-Encumbrance. Each Xxxxxx Trust Mortgage Loan contains provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, except in the case of a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination (for which such consent has been granted with respect to the other mortgage loan(s) in such Loan Combination), and except for the respective Xxxxxx Trust Mortgage Loans secured by the Mortgaged Properties listed on Schedule III-(xxv) (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Mortgage Loan Seller. To the Depositor's knowledge, no related Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination also secures the other mortgage loan(s) in such Loan Combination); however, if the related Mortgaged Property is listed on Schedule III-(xxv), then certain direct controlling equity holders in the related Mortgagor are known to the Depositor to have incurred debt secured by their ownership interest in the related Mortgagor.

Due-on-Encumbrance. Each Xxxxxx Trust Mortgage Loan contains provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, and except in the case of a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination (for which such consent has been granted with respect to the other mortgage loan(s) in such Loan Combination), and except for the respective Xxxxxx Trust Mortgage Loans secured by the Mortgaged Properties listed on Schedule III-(xxv) I (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Mortgage Loan Seller. To the DepositorSeller's knowledge, no related Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination also secures the other mortgage loan(s) in such Loan Combination); however, if the related Mortgaged Property is listed on Schedule III-(xxv)I, then certain direct controlling equity holders in the related Mortgagor are known to the Depositor Seller to have incurred debt secured by their ownership interest in the related Mortgagor.

Due-on-Encumbrance. Each Xxxxxx Trust Mortgage Loan contains provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, except in the case of a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination (for which such consent has been granted with respect to the other mortgage loan(s) in such Loan Combination), and except for the respective Xxxxxx Trust Mortgage Loans secured by the Mortgaged Properties listed on Schedule III-(xxv) (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Mortgage Loan Seller. To the Depositor's knowledge, no related Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination also secures the other mortgage loan(s) in such Loan Combination); however, if the related Mortgaged Property is listed on Schedule III-(xxv), then certain direct controlling equity holders in the related Mortgagor are known to the Depositor to have incurred debt secured by their ownership interest in the related Mortgagor.

Due-on-Encumbrance. Each Xxxxxx Trust Mortgage Loan contains provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, and except in the case of a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination (for which such consent has been granted with respect to the other mortgage loan(s) in such Loan Combination), and except for the respective Xxxxxx Trust Mortgage Loans secured by the Mortgaged Properties listed on Schedule III-(xxv) I (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Mortgage Loan Seller. To the DepositorSeller's knowledge, no related Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination also secures the other mortgage loan(s) in such Loan Combination)financing; however, if the related Mortgaged Property is listed on Schedule III-(xxv)I, then certain direct controlling equity holders in the related Mortgagor are known to the Depositor Seller to have incurred debt secured by their ownership interest in the related Mortgagor.

Due-on-Encumbrance. Each Xxxxxx Lehman Trust Mortgage Loan contains provisions for the acceleration of acceleraxxxx xf the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, except in the case of a Xxxxxx Lehman Trust Mortgage Loan that is part of a Loan Combination Combinatiox (for xxx which such consent has been granted with respect to the other mortgage loan(s) in such Loan Combination), and except for the respective Xxxxxx Lehman Trust Mortgage Loans secured by the Mortgaged Properties listed xxxxxd on Schedule III-(xxv) (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Lehman Mortgage Loan Seller. To the Depositor's knowledge, no related rxxxxxx Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Lehman Trust Mortgage Loan that is part of a Loan Combination also secures axxx xxcures the other mortgage loan(s) in such Loan Combination); however, if the related Mortgaged Property is listed on Schedule III-(xxv), then certain direct controlling equity holders in the related Mortgagor are known to the Depositor to have incurred debt secured by their ownership interest in the related Mortgagor.

Due-on-Encumbrance. Each Xxxxxx Trust Mortgage Loan contains provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, and except in the case of a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination (for which such consent has been granted with respect to the other mortgage loan(s) in such Loan Combination), and except for the respective Xxxxxx Trust Mortgage Loans secured by the Mortgaged Properties listed on Schedule III-(xxv) I (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Mortgage Loan Seller. To the DepositorSeller's knowledge, no related Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination also secures the other mortgage loan(s) in such Loan Combination); however, if the related Mortgaged Property is listed on Schedule III-(xxv)I, then certain direct controlling equity holders in the related Mortgagor are known to the Depositor Seller to have incurred debt secured by their ownership interest in the related Mortgagor.

Due-on-Encumbrance. Each Xxxxxx Lehman Trust Mortgage Loan contains provisions for the acceleration accelerxxxxx of the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, except in the case of a Xxxxxx Lehman Trust Mortgage Loan that is part of a Loan Combination (for which xxx xhich such consent has been granted with respect to the other mortgage loan(s) in such Loan Combination), and except for the respective Xxxxxx Lehman Trust Mortgage Loans secured by the Mortgaged Properties listed xxxxed on Schedule III-(xxv) (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Lehman Mortgage Loan Seller. To the Depositor's knowledge, no related xxxxxxd Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Lehman Trust Mortgage Loan that is part of a Loan Combination also secures xxxx xecures the other mortgage loan(s) in such Loan Combination); however, if the related Mortgaged Property is listed on Schedule III-(xxv), then certain direct controlling equity holders in the related Mortgagor are known to the Depositor to have incurred debt secured by their ownership interest in the related Mortgagor.

Due-on-Encumbrance. Each Xxxxxx Trust Mortgage Loan contains provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, except in the case of a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination (for which such consent has been granted with respect to the other mortgage loan(s) in such Loan Combination), and except for the respective Xxxxxx Trust Mortgage Loans secured by the Mortgaged Properties listed on Schedule III-(xxvII-(xxv) (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Mortgage Loan Seller. To the Depositor's knowledge, no related Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination also secures the other mortgage loan(s) in such Loan Combination); however, if the related Mortgaged Property is listed on Schedule III-(xxvII-(xxv), then certain direct controlling equity holders in the related Mortgagor are known to the Depositor to have incurred debt secured by their ownership interest in the related Mortgagor.

Due-on-Encumbrance. Each Xxxxxx Trust Mortgage Loan contains provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property Property, any direct interest therein or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, except in the case of a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination (for which such consent has been granted with respect to the other mortgage loan(s) in such Loan Combinationrelated Non-Trust Mortgage Loan(s)), and except for the respective Xxxxxx Trust Mortgage Loans secured by the Mortgaged Properties listed on Schedule III-(xxvII-(xxv) (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Mortgage Loan Seller. To the Depositor's knowledge, no related Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination also secures the other mortgage loan(s) in such Loan Combinationrelated Non-Trust Mortgage Loan(s)); however, if the related Mortgaged Property is listed on Schedule III-(xxvII-(xxv), then certain direct controlling equity holders in the related Mortgagor are known to the Depositor to have incurred debt secured by their ownership interest in the related Mortgagor.

Due-on-Encumbrance. Each Xxxxxx Lehman Trust Mortgage Loan contains provisions for the acceleration accelexxxxxx of the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, except in the case of a Xxxxxx Lehman Trust Mortgage Loan that is part of a Loan Combination (for xxx which such consent has been granted with respect to the other mortgage loan(s) in such Loan Combination), and except for the respective Xxxxxx Lehman Trust Mortgage Loans secured by the Mortgaged Properties listed xxxted on Schedule III-(xxv) (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Lehman Mortgage Loan Seller. To the Depositor's knowledge, no related xxxxxed Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Lehman Trust Mortgage Loan that is part of a Loan Combination also xxxx secures the other mortgage loan(s) in such Loan Combination); however, if the related Mortgaged Property is listed on Schedule III-(xxv), then certain direct controlling equity holders in the related Mortgagor are known to the Depositor to have incurred debt secured by their ownership interest in the related Mortgagor.

Due-on-Encumbrance. Each Xxxxxx Lehman Trust Mortgage Loan Mortgagx Xxxx contains provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, except in the case of a Xxxxxx Lehman Trust Mortgage Loan Mortgagx Xxxx that is part of a Loan Combination (for which such consent has been granted with respect to the other mortgage loan(s) in such Loan Combination), and except for the respective Xxxxxx Lehman Trust Mortgage Loans Mortgagx Xxxxs secured by the Mortgaged Properties listed on Schedule III-(xxv) (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Lehman Mortgage Loan SellerXxxxxr. To the Depositor's knowledge, no related Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Lehman Trust Mortgage Moxxxxxx Loan that is part of a Loan Combination also secures the other mortgage loan(s) in such Loan Combination); however, if the related Mortgaged Property is listed on Schedule III-(xxv), then certain direct controlling equity holders in the related Mortgagor are known to the Depositor to have incurred debt secured by their ownership interest in the related Mortgagor.

Due-on-Encumbrance. Each Xxxxxx Lehman Trust Mortgage Loan contains provisions for the fox xxx acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, except in the case of a Xxxxxx Lehman Trust Mortgage Loan that is part of a Loan Combination Xxxxxnation (for which such consent has been granted with respect to the other mortgage loan(s) in such Loan Combination), and except for the respective Xxxxxx Lehman Trust Mortgage Loans secured by the Mortgaged Properties Prxxxxxxes listed on Schedule III-(xxv) (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Lehman Mortgage Loan Seller. To the Depositor's knowledgeknowledxx, no xx related Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Lehman Trust Mortgage Loan that is part of a Loan Combination Xxxxxnation also secures the other mortgage loan(s) in such Loan Combination); however, if the related Mortgaged Property is listed on Schedule III-(xxv), then certain direct controlling equity holders in the related Mortgagor are known to the Depositor to have incurred debt secured by their ownership interest in the related Mortgagor.

Due-on-Encumbrance. Each Xxxxxx Trust Mortgage Loan contains provisions for the acceleration of the payment of the unpaid principal balance of such Mortgage Loan if, without the prior written consent of the mortgagee or Rating Agency confirmation that an Adverse Rating Event with respect to any Class of Certificates would not occur, any related Mortgaged Property or any direct controlling interest in the Mortgagor is directly encumbered in connection with subordinate financing; and, except in the case of a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination (for which such consent has been granted with respect to the other mortgage loan(s) in such Loan Combination), and except for the respective Xxxxxx Trust Mortgage Loans secured by the Mortgaged Properties listed on Schedule III-(xxvII-(xxv) (for which such consent has been granted with respect to mezzanine debt), no such consent has been granted by the applicable Xxxxxx Mortgage Loan Seller. To the Depositor's knowledge, no related Mortgaged Property is encumbered in connection with subordinate financing (except that each Mortgaged Property securing a Xxxxxx Trust Mortgage Loan that is part of a Loan Combination also secures the other mortgage loan(s) in such Loan Combination); however, if the related Mortgaged Property is listed on Schedule III-(xxvII-(xxv), then certain direct controlling equity holders in the related Mortgagor are known to the Depositor to have incurred debt secured by their ownership interest in the related Mortgagor.