Common use of No Material Default; Payment Record Clause in Contracts

No Material Default; Payment Record. No Mezzanine Loan has been more than 30 days delinquent, without giving effect to any grace or cure period, in making required payments since origination, and as of the date hereof, no Mezzanine Loan is more than 30 days delinquent (beyond any applicable grace or cure period) in making required payments as of the Closing Date. To the Seller’s knowledge, there is (a) no material default, breach, violation or event of acceleration existing under the related Mezzanine Loan or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Mezzanine Loan, provided, however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Seller in Schedule 1(a) to this Exhibit B. No person other than the holder of such Mezzanine Loan (subject to the related Participation Agreement) may declare any event of default under the Mezzanine Loan or accelerate any indebtedness under the Mezzanine Loan documents.

No Material Default; Payment Record. No Mezzanine Loan has been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required payments since origination, and as of the date hereofits Purchase Date, no Mezzanine Loan is more than 30 thirty (30) days delinquent (beyond any applicable grace or cure period) in making required payments as of the Closing Datepayments. To the Seller’s knowledge, knowledge there is (a) no material default, breach, violation or event of acceleration existing under the related Mezzanine Loan Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Mezzanine Loan, provided, however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Seller in Schedule 1(a) to this Exhibit B. V. No person other than the holder of such Mezzanine Loan (subject to the related Participation Agreement) may declare any event of default under the Mezzanine Loan or accelerate any indebtedness under the Mezzanine Loan documentsDocuments.

No Material Default; Payment Record. No Mezzanine Loan has been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required payments since origination, and as of the date hereofPurchase Date for the related Mortgage Loan, no Mezzanine Loan is more than 30 thirty (30) days delinquent (beyond any applicable grace or cure period) in making required payments as of the Closing Datepayments. To the Seller’s knowledge, there There is (a) no material default, breach, violation or event of acceleration existing under the related any Mezzanine Loan Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Mezzanine LoanLoan or the value, use or operation of the related Mortgaged Property or Equity Interests, provided, however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the applicable Seller in Schedule 1(a) to this Exhibit XII-B. No person other than the holder of such Mezzanine Loan (subject to the related Participation Agreement) may declare any event of default under the Mezzanine Loan or accelerate any indebtedness under the Mezzanine Loan documentsDocuments.

No Material Default; Payment Record. No Mezzanine Loan has been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required payments since origination, and as of the date hereofits Purchase Date, no Mezzanine Loan is more than 30 thirty (30) days delinquent (beyond any applicable grace or cure period) in making required payments as of the Closing Datepayments. To the Seller’s knowledgeKnowledge, there is (a) no material default, breach, violation or event of acceleration existing under the related Mezzanine Loan Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Mezzanine Loan, provided, however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Seller in Schedule 1(a) to this Exhibit B. V-A. No person other than the holder of such Mezzanine Loan (subject to the related Participation Agreement) may declare any event of default under the Mezzanine Loan or accelerate any indebtedness under the Mezzanine Loan documentsPurchased Asset Documents.

No Material Default; Payment Record. No Mezzanine Loan has been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required payments since origination, and as of the date hereofits Purchase Date, no Mezzanine Loan is more than 30 thirty (30) days delinquent (beyond any applicable grace or cure period) in making required payments as of the Closing Datepayments. To the Seller’s knowledge, there is (a) no material default, breach, violation or event of acceleration existing under the related Mezzanine Loan Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Mezzanine Loan, provided, however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Seller in Schedule 1(a) to this Exhibit B. V. No person other than the holder of such Mezzanine Loan (subject to the related Participation Agreement) may declare any event of default under the Mezzanine Loan or accelerate any indebtedness under the Mezzanine Loan documentsPurchased Asset Documents.

No Material Default; Payment Record. No Mezzanine Loan has been more than 30 days delinquent, without giving effect to any grace or cure period, in making required payments since origination, and as of the date hereof, no Mezzanine Loan is more than 30 days delinquent (beyond any applicable grace or cure period) in making required payments as of the Closing Date. To the Seller’s knowledge, there is (a) no material default, breach, violation or event of acceleration existing under the related Mezzanine Loan or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Mezzanine Loan, provided, however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Seller in Schedule 1(a) to this Exhibit B. No person other than the holder of such Mezzanine Loan (subject to the related Participation Agreement) may declare any event of default under the Mezzanine Loan or accelerate any indebtedness under the Mezzanine Loan documents.. (21)

No Material Default; Payment Record. No Mezzanine Loan has been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required payments since origination, and as of the date hereofPurchase Date for the related Mortgage Loan, no Mezzanine Loan is more than 30 thirty (30) days delinquent (beyond any applicable grace or cure period) in making required payments as of the Closing Datepayments. To the Seller’s knowledge, Knowledge there is (a) no material default, breach, violation or event of acceleration existing under the related Mezzanine Loan Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Mezzanine Loan, provided, however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Seller in Schedule 1(a) to this Exhibit B. V-A. No person other than the holder of such Mezzanine Loan (subject to the related Participation Agreement) may declare any event of default under the Mezzanine Loan or accelerate any indebtedness under the Mezzanine Loan documentsDocuments.

No Material Default; Payment Record. No Mezzanine Loan has been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required payments since origination, and as of the date hereofPurchase Date for the related Mortgage Loan, no Mezzanine Loan is more than 30 thirty (30) days delinquent (beyond any applicable grace or cure period) in making required payments as of the Closing Datepayments. To the Seller’s knowledgeKnowledge, there is (a) no material default, breach, violation or event of acceleration existing under the related any Mezzanine Loan Loan, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Mezzanine LoanLoan or the value, use or operation of the related Mortgaged Property or Capital Stock, provided, however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Seller in Schedule 1(a) to this Exhibit B. X. No person other than the holder of such Mezzanine Loan (subject to the related Participation Agreement) may declare any event of default under the Mezzanine Loan or accelerate any indebtedness under the Mezzanine Loan documentsDocuments.

No Material Default; Payment Record. No Such Mezzanine Loan has not been more than 30 thirty (30) days delinquent, without giving effect to any grace or cure period, in making required payments since origination, and as of the date hereofPurchase Date for the related Whole Loan or Senior Interest, no Mezzanine Loan is more than 30 thirty (30) days delinquent (beyond any applicable grace or cure period) in making required payments as of the Closing Datepayments. To the Seller’s knowledgeKnowledge, there is (a) no material default, breach, violation or event of acceleration existing under the related Mezzanine Loan Documents, or (b) no event (other than payments due but not yet delinquent) which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a material default, breach, violation or event of acceleration, which default, breach, violation or event of acceleration, in the case of either clause (a) or clause (b), materially and adversely affects the value of the Mezzanine LoanLoan or the value, use or operation of the related Mortgaged Property or Capital Stock, provided, however, that this representation and warranty does not cover any default, breach, violation or event of acceleration that specifically pertains to or arises out of an exception scheduled to any other representation and warranty made by the Seller in Schedule 1(a) to this Exhibit B. any Requested Exceptions Report. No person other than the holder of such Mezzanine Loan (subject to the related Participation Agreement) may declare any event of default under the Mezzanine Loan or accelerate any indebtedness under the Mezzanine Loan documentsDocuments.