Resizing. Notwithstanding any other provision of this Agreement, for so long as any Note Holder or an affiliate thereof (each, a “Resizing Entity”) is the owner of any Note that is not included in a Securitization (each, an “Owned Note”), such Resizing Entity shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended and restated notes or additional notes (in each case, as applicable “New Notes”) reallocating the principal of an Owned Note to such New Notes; or severing an Owned Note into one or more further “component” notes in the aggregate principal amount equal to the then outstanding principal balance of such Owned Note provided that (i) the aggregate principal balance of all outstanding New Notes following such amendments is no greater than the aggregate principal of such Owned Note prior to such amendments, (ii) all Notes continue to have the same weighted average interest rate as the Notes prior to such amendments, (iii) all Notes pay pro rata and on a pari passu basis and such reallocated or component notes shall be automatically subject to the terms of this Agreement, and (iv) the Resizing Entity holding the New Notes shall notify the Controlling Note Holder, the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee in writing of such modified allocations and principal amounts. If the Lead Securitization Note Holder so requests, the Resizing Entity holding the New Notes (and any subsequent holder of such Notes) shall execute a confirmation of the continuing applicability of this Agreement to the New Notes, as so modified. Except for the foregoing reallocation and for modifications pursuant to the Lead Securitization Servicing Agreement (as discussed in Section 5), no Note may be modified or amended without the consent of its holder and the consent of the holder of each other Note. In connection with the foregoing, provided the conditions set forth in clauses (i) through (iv) above are satisfied, the Master Servicer is hereby authorized and directed to execute amendments to the Mortgage Loan Documents and this Agreement on behalf of any or all of the Note Holders, as applicable, solely for the purpose of reflecting such reallocation of principal and that each New Note shall be a “Note” hereunder and for purposes of adding and modifying any definitions related thereto. If more than one New Note is created hereunder, for purposes of exercising the rights of a...
Resizing. In connection with the Mortgage Loan, each Noteholder agrees, subject to clause (iii) below, that if a Noteholder determines that it is advantageous to resize its Note by causing the Mortgage Loan Borrower to execute amended and restated or additional pari passu notes (in either case, “New Notes”) reallocating the principal of such Note to such New Notes, each Noteholder other than the resizing Noteholder shall cooperate with the resizing Noteholder to effect such resizing at such resizing Noteholder’s expense; provided that (i) the aggregate principal balance of all outstanding New Notes following the creation thereof is no greater than the principal balance of such Note or Notes immediately prior to the creation of the New Notes, (ii) the weighted average Interest Rate of all outstanding New Notes following the creation thereof is the same as the Interest Rate of the related Note or Notes immediately prior to the creation of the New Notes, and (iii) no such resizing shall (x) change the interest allocable to, or the amount of any payments due to, any other Noteholder, or priority of such payments, or (y) increase any other Noteholder’s obligations or decrease any other Noteholder’s rights, remedies or protections. In connection with any resizing of a Note, the related Noteholder may allocate its rights hereunder among the New Notes in any manner in its sole discretion.
Resizing. In connection with the Mortgage Loan, the Note B Holder agrees that if, in connection with the Securitization, the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder or the Note A-5 Holder determines that it is advantageous to resize Note X-0, Xxxx X-0, Note A-3, Note A-4 or Note A-5 by causing the Mortgage Loan Borrower to execute amended and restated notes or additional notes (in either case, “New Notes”) reallocating the principal of such Note to such New Notes, the Note B Holder shall cooperate with the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder, the Note A-4 Holder and the Note A-5 Holder, as applicable, to effect such resizing at such Note A-1 Holder’s, Note A-2 Holder’s, Note A-3 Holder’s, Note A-4 Holder’s or Note A-5 Holder’s expense, as applicable; provided that (i) the aggregate principal balance of all outstanding New Notes following the creation thereof is no greater than the principal balance of such Note or Notes immediately prior to the creation of the New Notes, (ii) the weighted average interest rate of all outstanding New Notes following the creation thereof is the same as the interest rate of the related Note or Notes immediately prior to the creation of the New Notes, and (iii) no such resizing shall (a) change the interest allocable to, or the amount of any payments due to, the Note B Holder, or priority of such payments, or (b) increase the Note B Holder’s obligations or decrease the Note B Holder’s rights, remedies or protections. In connection with the resizing of Note X-0, Xxxx X-0, Note A-3, Note A-4 or Note A-5, the related Noteholder may allocate its rights hereunder among the New Notes in any manner in its sole discretion. Any cap on the Note A-1 Holder’s, Note A-2 Holder’s, Note A-3 Holder’s, Note A-4 Holder’s or Note A-5 Holder’s obligation to pay the Note B Holder’s expenses pursuant to Section 40 of this Agreement shall not apply to the Note B Holder’s expenses in connection with a resizing pursuant to this Section 38 or any Securitization of a resized Note X-0, Xxxx X-0, Note A-3, Note A-4 or Note A-5.
Resizing. In connection with the Mortgage Loan, each Noteholder agrees, subject to clause (iii) below in this paragraph, that if a Senior Noteholder determines that it is advantageous to resize one or more of its Senior Notes by causing the Borrower to execute amended and restated or additional pari passu notes (in either case, “New Notes”) reallocating the principal of such Senior Note to such New Notes, each Noteholder other than the resizing Noteholder shall cooperate with the resizing Noteholder to effect such resizing at such resizing Noteholder’s expense; provided that (i) the aggregate principal balance of all outstanding New Notes following the creation thereof is no greater than the principal balance of such Senior Note or Senior Notes immediately prior to the creation of the New Notes, (ii) the weighted average Interest Rate of all outstanding New Notes (based on the relative principal balance of such New
Resizing. Borrower covenants and agrees that in connection with any Securitization of the Loan, upon Lender's request Borrower shall deliver one or more new component notes to replace the original note or modify the original note to reflect multiple components of the Loan or create one or more mezzanine loans (including amending Borrower's organizational structure to provide for one or more mezzanine borrowers) (each a "RESIZING EVENT"). Lender agrees that such new notes or modified note or mezzanine notes shall immediately after the Resizing Event have the same initial weighted average coupon as the original note prior to such Resizing Event, notwithstanding that such new notes or modified note or mezzanine notes or may, in connection with the application of principal to such new notes or modified note or mezzanine notes, subsequently cause the weighted average spread of such new notes or modified note or mezzanine notes to change and apply principal, interest rates and amortization of the Loan between such new components and/or mezzanine loans in a manner specified by Lender in its sole discretion such that the pricing and marketability of the Securities and the size of each class of Securities and the rating assigned to each such class by the Rating Agencies shall provide the most favorable rating levels and achieve the optimum bond execution for the Loan. In connection with any Resizing Event, Borrower covenants and agrees to modify the Cash Management Agreement with respect to the newly created components and/or mezzanine loans.
Resizing. Notwithstanding any other provision of this Agreement, for so long as CGMRC or an affiliate thereof (a “CGMRC Entity”) is the owner of the Non-Lead Securitization Note (the “Owned Note”), such CGMRC Entity shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended and restated notes or additional notes (in either case, “New Notes”) reallocating the
Resizing. Notwithstanding any other provision of this Agreement, for so long as an Initial Note Holder or an affiliate of an Initial Note Holder (the “Resizing Holder”) is the owner of any Non-Lead Securitization Note (the “Owned Note”) and such Owned Note is not included in a Securitization, such Resizing Holder shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended and restated notes or additional notes (in either case, “New Notes”) reallocating the principal of the Owned Note to such New Notes or severing the Owned Note into one or more further “component” notes in the aggregate principal amount equal to the then outstanding principal balance of the Owned Note; provided that (i) the aggregate principal balance of all outstanding New Notes following such amendments is no greater than the aggregate principal of the Owned Note prior to such amendments, (ii) all Notes continue to have the same weighted average interest rate as the Notes prior to such amendments or re-allocations,
Resizing. In connection with the Mortgage Loan, the Junior Noteholder agrees that if, in connection with the Securitization, it is advantageous to resize or otherwise change the size of the Senior Note, the Junior Noteholder shall reasonably cooperate with the Senior Noteholder to resize the Senior Note in connection therewith and shall reasonably cooperate with the Senior Noteholder to amend this agreement to decrease the Senior Note by up to $2,000,000 with a corresponding increase in the Junior Note with the same rights and remedies as set forth herein. In connection with the resizing of the Notes, the Senior Noteholder may allocate its rights hereunder among the new notes obtained by such Noteholder in any manner in its sole discretion.
Resizing. As of each Resizing Date, Lender shall resize the Loan based upon the following formula. The resized Loan Amount shall be equal to (a) Underwritten Net Operating Income divided by 1.4, divided by (b) the Debt Constant. Borrower, at its sole cost and expense, shall promptly provide to Lender upon request all documentation and information determined by Lender in its sole discretion to be necessary to complete its underwriting analysis in connection with the resizing of the Loan, including without limitation, leases, rent rolls, property operating and financial statements, and such third party reports and other information and documents determined by Lender in its sole discretion to be necessary to assess the condition, operation and value of the Property. Borrower shall provide all such information not later than sixty days prior to the Resizing Date. If any information requested by Lender is not provided, then Lender shall be entitled to make its own good faith judgment with regard to the missing information when making its resizing determination. Lender agrees to notify Borrower as to the Resizing Amount thirty days prior to the Resizing Date provided it has received the requested information in a timely fashion. If the Resized Loan Amount is less than the then current outstanding Loan amount, Borrower shall repay such difference on the Resizing Date. If the resized Loan Amount is greater than the then outstanding amount of the Loan, as of any Resizing Date occurring on March 11th, then Lender shall advance to Borrower on the Resizing Date upon request made by Borrower no later than two (2) business days prior to the Resizing Date, the amount requested by Borrower for an additional disbursement of the Loan so long as (i) such amount does not increase the outstanding balance of the Loan to an amount greater than the Resized Loan Amount (or 85% of the outstanding principal balance of the Property Loan, whichever is less), (ii) no Default has occurred and is continuing, (iii) all of Borrower's representations and warranties contained herein and in the other Loan Documents shall be true and correct in all material respects as of the Resizing Date, (iv) the outstanding principal balance of the Property Loan is not more than 70% of the Property Value, (v) Borrower pays a fee to Lender equal to 1% of the incremental loan proceeds advanced, and (vi) Borrower delivers to Lender a disbursement request that has been consented to by Lake Investors, LaSalle Land Partne...
Resizing. Notwithstanding any other provision of this Agreement, for so long as UBSRES or an affiliate thereof (an “Original Entity”) is the owner of each Non-Lead Securitization Note (an “Owned Note”), such Original Entity shall have the right, subject to the terms of the Mortgage Loan Documents, to cause the Mortgage Loan Borrower to execute amended and restated notes or additional notes (in either case, “New Notes”) reallocating the principal of an Owned Note to such New Notes; or severing an Owned Note into one or more further “component” notes in the aggregate principal amount equal to the then outstanding principal balance of such Owned Note provided that (i) the aggregate principal balance of all outstanding New Notes following such amendments is no greater than the aggregate principal of such Owned Note prior to such amendments, (ii) all Notes continue to have the same weighted average interest rate as the Notes prior to such amendments, (iii) all Notes pay pro rata and on a pari passu basis and such reallocated or component notes shall be automatically subject to the terms of this Agreement, (iv) the Original Entity holding the New Notes shall notify the Lead Securitization Note Holder, the Master Servicer, the Special Servicer, the Certificate Administrator and the Trustee in writing of such modified allocations and principal amounts, and
