Common use of Par Purchase Option Clause in Contracts

Par Purchase Option. If a Triggering Event of Default has occurred and is continuing, then, upon written notice from the Lead Securitization Note Holder (or the Servicer on its behalf) (a “Repurchase Option Notice”) of such occurrence, any Note B Holder (and if each of the Note B-1 Holder, the Note B-2 Holder and the Note B-3 Holder, or any combination thereof, provide such written notice, then such Note B Holders, collectively, on a pro rata basis) shall have the right, prior to any other party, by written notice to the Lead Securitization Note

Appears in 6 contracts

Samples: Co Lender Agreement (COMM 2015-Lc23 Mortgage Trust), Co Lender Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2015-C26), Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2015-C31)

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Par Purchase Option. If a Triggering Event of Default has occurred and is continuing, then, upon written notice from the Lead Securitization Note Holder (or the Servicer on its behalf) (a “Repurchase Option Notice”) of such occurrence, any Note B Holder (and if each of the Note B-1 Holder, the Note B-2 Holder and the Note B-3 B-2 Holder, or any combination thereof, provide such written notice, then such Note B Holders, collectively, on a pro rata basis) shall have the right, prior to any other party, by written notice to the Lead Securitization NoteNote Holder (or the Servicer

Appears in 1 contract

Samples: Co Lender Agreement (CD 2017-Cd3 Mortgage Trust)

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