Common use of Loss Mitigation Alternative Clause in Contracts

Loss Mitigation Alternative. Any action or series of actions (x) pursuant to one or more agreements between the Borrower and the Trustee or the Master Servicer (or, if permitted by the Servicing Contract, the Direct Servicer) or (y) as a result of any concessions to the Borrower by the Trustee or the Master Servicer (or, if permitted by the related Servicing Contract, the Direct Servicer) that, in each case, satisfy the requirements set forth in this definition and in Subsection 5.3(3) and under which the parties may agree to refrain from pursuing remedies for default under the Mortgage Documents while attempts to resolve the default are continuing. The agreement(s) may include whatever loss mitigation alternatives are considered by the Master Servicer (or, if permitted under the related Servicing Contract, by the Direct Servicer) to be appropriate to that Borrower under the applicable facts, consistent with Accepted Servicing Practices, including providing for a period of forbearance, reduced payments, loan modifications or any other actions that, taken as a whole, would have the effect of curing the default on the Mortgage Loan, require the Borrower to cure the default on the Mortgage Loan during the combined term of all such actions, or result in satisfaction of the Mortgage Loan.

Loss Mitigation Alternative. Any action or series of actions (x) pursuant to one or more agreements between the Borrower and the Trustee or the Master Servicer (or, if permitted by the Servicing Contract, the Direct Servicer) or (y) as a result of any concessions to the Borrower by the Trustee or the Master Servicer (or, if permitted by the related Servicing Contract, the Direct Servicer) that, in each case, satisfy the requirements set forth in this definition and in Subsection Subsections 5.3(3) and 5.3(4) and under which the parties may agree to refrain from pursuing remedies for default under the Mortgage Documents while attempts to resolve the default are continuing. The agreement(s) may include whatever loss mitigation alternatives are considered by the Master Servicer (or, if permitted under the related Servicing Contract, by the Direct Servicer) to be appropriate to that Borrower under the applicable facts, consistent with Accepted Servicing Practices, including providing for a period of forbearance, reduced payments, loan modifications or any other actions that, taken as a whole, would have the effect of curing the default on the Mortgage Loan, require the Borrower to cure the default on the Mortgage Loan during the combined term of all such actions, or result in satisfaction of the Mortgage Loan.

Loss Mitigation Alternative. Any action or series of actions (x) pursuant to one or more agreements between the Borrower and the Trustee or the Master Servicer (or, if permitted by the related Servicing Contract, the Direct Primary Servicer) or (y) as a result of any concessions to the Borrower by the Trustee or the Master Servicer (or, if permitted by the related Servicing Contract, the Direct Primary Servicer) that, in each case, satisfy the requirements set forth in this definition and in Subsection 5.3(3) and under which the parties may agree to refrain from pursuing remedies for default under the Mortgage Documents while attempts to resolve the default are continuing. The agreement(s) may include whatever loss mitigation alternatives are considered by the Master Servicer (or, if permitted under the related Servicing Contract, by the Direct Primary Servicer) to be appropriate to that Borrower under the applicable facts, consistent with Accepted Servicing Practices, including providing for a period of forbearance, reduced payments, loan modifications or any other actions that, taken as a whole, would have the effect of curing the default on the Mortgage Loan, require the Borrower to cure the default on the Mortgage Loan during the combined term of all such actions, or result in satisfaction of the Mortgage Loan.. MALA: A multiple asset lending arrangement with one or more primary obligors (which may include Borrowers) consisting of one or more loans (which may be funded as separate