AB Control Appraisal Period definition

AB Control Appraisal Period. An “AB Control Appraisal Period” will exist with respect to an AB Subordinate Companion Loan, if and for so long as (a)(1) the initial principal balance of such AB Subordinate Companion Loan minus (2) the sum of (x) any payments of principal allocated to, and received on, such AB Subordinate Companion Loan, (y) any Appraisal Reductions for the AB Whole Loan that are allocated to such AB Subordinate Companion Loan and (z) any losses realized with respect to the related Mortgaged Property or the AB Whole Loan that are allocated to the AB Subordinate Companion Loan, is less than (b) 25% of the remainder of the (i) initial principal balance of such AB Subordinate Companion Loan less (ii) any payments of principal allocated to, and received by, the holder of such AB Subordinate Companion Loan.
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AB Control Appraisal Period. The period during which the holder of any AB Subordinate Companion Loan is the AB Whole Loan Controlling Holder.
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AB Control Appraisal Period. The “Control Appraisal Period” as defined in the AB Intercreditor Agreement.
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Examples of AB Control Appraisal Period in a sentence

  • Notwithstanding the foregoing, with respect to any Serviced AB Whole Loan, no Senior Trust Advisor Annual Report will be permitted to include an assessment of the Special Servicer’s performance in respect of such Serviced AB Whole Loan until after the occurrence and during the continuance of an AB Control Appraisal Period under the related Intercreditor Agreement.

  • Notwithstanding the foregoing, with respect to any Serviced AB Whole Loan, no Operating Advisor Annual Report will be permitted to include an assessment of the Special Servicer’s performance in respect of such Serviced AB Whole Loan until after the occurrence and during the continuance of an AB Control Appraisal Period under the related Intercreditor Agreement.

  • Notwithstanding the foregoing, with respect to any Serviced AB Whole Loan, no Operating Advisor Annual Report will be permitted to include an assessment of the Special Servicer’s performance in respect of such Serviced AB Whole Loan until after the occurrence and during the continuance of an AB Control Appraisal Period under the related Co-Lender Agreement.

  • Notwithstanding the foregoing, the Senior Trust Advisor will have no obligations or consultation rights with respect to: (i) any Non-Serviced Whole Loan or any related REO Property or (ii) with respect to any AB Mortgage Loan, prior to the occurrence and continuance of both an AB Control Appraisal Period and a Control Event; provided further, that the Senior Trust Advisor shall not be entitled to a Senior Trust Advisor Consulting Fee with respect to any Non-Serviced Whole Loan.

  • Notwithstanding the foregoing, the Senior Trust Advisor will have no obligations or consultation rights with respect to: (i) any Non-Serviced Whole Loan or any related REO Property and (ii) any Serviced AB Whole Loan prior to the occurrence and continuance of both a related AB Control Appraisal Period and a Control Event.

  • The Certificate Administrator shall notify the Senior Trust Advisor within ten (10) Business Days of the existence or cessation of (i) any Control Event, (ii) any Consultation Termination Event, (iii) any AB Control Appraisal Period or (iv) any Loan-Specific Control Appraisal Period.

  • Notwithstanding the foregoing, with respect to any Serviced AB Whole Loan or Trust AB Whole Loan, no Senior Trust Advisor Annual Report will be permitted to include an assessment of the Special Servicer’s performance in respect of such Serviced AB Whole Loan or Trust AB Whole Loan until after the occurrence and during the continuance of an AB Control Appraisal Period under the related Intercreditor Agreement.

  • Notwithstanding the foregoing, the Senior Trust Advisor shall not be permitted to recommend the replacement of the Special Servicer with respect to an AB Whole Loan so long as the related Serviced Companion Noteholder is not subject to an AB Control Appraisal Period under the related Intercreditor Agreement.

  • Notwithstanding the foregoing, the Senior Trust Advisor will have no obligations or consultation rights with respect to: (i) the Aire Whole Loan or any related REO Property or (ii) with respect to any AB Mortgage Loan, prior to the occurrence and during the continuance of both an AB Control Appraisal Period and a Control Event; provided further, that the Senior Trust Advisor shall not be entitled to a Senior Trust Advisor Consulting Fee with respect to the Aire Mortgage Loan.

  • If the requirements of this paragraph are satisfied by the either Note A-B Holder or the Note B Holder (a “Threshold Event Cure”), no Note A-B Control Appraisal Period or Note B Control Appraisal Period, as applicable, caused by application of an Appraisal Reduction Amount shall be deemed to have occurred.


More Definitions of AB Control Appraisal Period

AB Control Appraisal Period. With respect to a Serviced AB Whole Loan, a “Control Appraisal Period” or equivalent term under the related AB Intercreditor Agreement. For the avoidance of doubt, there is no Serviced AB Whole Loan related to the Trust.
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AB Control Appraisal Period. With respect to any AB Subordinate Companion Loan, the period during which (a)(i) the initial principal balance of such AB Subordinate Companion Loan minus (ii) the sum (without duplication) of (x) any payments of principal (whether as principal prepayments or otherwise) allocated to, and received on, such AB Subordinate Companion Loan, (y) any Appraisal Reduction Amounts for the related AB Whole Loan that are allocated to such AB Subordinate Companion Loan and (z) any losses realized with respect to the related Mortgaged Property or AB Whole Loan that are allocated to such AB Subordinate Companion Loan, is less than (b) 25% of the remainder of the (i) initial principal balance of such AB Subordinate Companion Loan less (ii) any payments of principal (whether principal prepayments or otherwise) allocated to, and received by, the holder of such AB Subordinate Companion Loan.
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AB Control Appraisal Period will exist with respect to an AB Subordinate Companion Loan, if and for so long as (a)(1) the initial principal balance of such AB Subordinate Companion Loan minus (2) the sum of (x) any payments of principal allocated to, and received on, such AB Subordinate Companion Loan, (y) any Appraisal Reductions for the AB Whole Loan that are allocated to such AB Subordinate Companion Loan and (z) any losses realized with respect to the related Mortgaged Property or the AB Whole Loan that are allocated to the AB Subordinate Companion Loan, is less than
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AB Control Appraisal Period will exist with respect to an Subordinate Companion Loan, if and for so long as (a)(1) the initial principal balance of such Subordinate Companion Loan minus (2) the sum of (x) any payments of principal allocated to, and received on, such Subordinate Companion Loan, (y) any Appraisal Reductions for the AB Whole Loan that are allocated to such Subordinate Companion Loan and (z) any losses realized with respect to the related Mortgaged Property or the AB Whole Loan that are allocated to the Subordinate Companion Loan, is less than (b) 25% of the remainder of the (i) initial principal balance of such Subordinate Companion Loan less (ii) any payments of principal allocated to, and received by, the holder of such Subordinate Companion Loan.
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AB Control Appraisal Period. An “AB Control Appraisal Period” will exist with respect to the 000 Xxxxx Xxxxxxxx Xxxxxxxxxxx Companion Loan, if and for so long as (a)(1) the initial principal balance of such Subordinate Companion Loan minus (2) the sum of (x) any payments of principal allocated to, and received on, such Subordinate Companion Loan, (y) any Appraisal Reductions for the 000 Xxxxx Xxxxxxxx Whole Loan that are allocated to such Subordinate Companion Loan and (z) any losses realized with respect to the related Mortgaged Property or the 000 Xxxxx Xxxxxxxx Whole Loan that are allocated to the Subordinate Companion Loan, is less than (b) 25% of the remainder of the (i) initial principal balance of such Subordinate Companion Loan less (ii) any payments of principal allocated to, and received, by the holder of such Subordinate Companion Loan.
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AB Control Appraisal Period. Each of the Palazzo Westwood Village Control Appraisal Period and the 100 Xxxx Xxxxxx Control Appraisal Period, individually or collectively, as the context requires.
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Related to AB Control Appraisal Period

  • Control Appraisal Period shall exist with respect to the Mortgage Loan, if and for so long as:

  • Appraisal Reduction Event With respect to any Serviced Loan, the earliest of (i) the date on which such Serviced Loan becomes a Modified Asset, (ii) the date on which such Serviced Loan is 60 days or more delinquent in respect of any Monthly Payment, which does not include a Balloon Payment, (iii) solely in the case of a delinquent Balloon Payment, (A) the date occurring 60 days after the date on which such Balloon Payment was due (except as described in the immediately following clause (B)) or (B) if the related Mortgagor has delivered to the Master Servicer (who shall promptly deliver a copy thereof to the Special Servicer) or the Special Servicer (who shall promptly deliver a copy thereof to the Master Servicer) a refinancing commitment acceptable to the Special Servicer prior to the date 60 days after the Balloon Payment was due, the date occurring 120 days after the date on which the Balloon Payment was due (or such shorter period beyond the date on which that Balloon Payment was due during which the refinancing is scheduled to occur), (iv) the date on which the related Mortgaged Property has become an REO Property, (v) a receiver or similar official is appointed and continues for 60 days in such capacity in respect of the related Mortgaged Property, (vi) 60 days after the related Mortgagor is subject to a bankruptcy, insolvency or similar proceedings, which, in the case of an involuntary bankruptcy, insolvency or similar proceeding, is not dismissed within those 60 days, or (vii) the date on which such Serviced Loan remains outstanding five (5) years following any extension of its maturity date pursuant to Section 3.24 of this Agreement. If an Appraisal Reduction Event occurs with respect to any Serviced Mortgage Loan that is part of a Serviced Loan Combination, then an Appraisal Reduction Event shall be deemed to have occurred with respect to the related Serviced Companion Loan(s). If an Appraisal Reduction Event occurs with respect to any Serviced Companion Loan that is part of a Serviced Loan Combination, then an Appraisal Reduction Event shall be deemed to have occurred with respect to the related Serviced Mortgage Loan and any other Serviced Companion Loan(s) included as part of that Serviced Loan Combination. No Appraisal Reduction Event may occur at any time when the aggregate Certificate Balance of all Classes of Principal Balance Certificates (other than the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates) has been reduced to zero. The Special Servicer shall notify the Master Servicer and the Master Servicer shall notify the Special Servicer, as applicable, promptly upon the occurrence of any of the foregoing events.

  • Required Appraisal Loan As defined in Section 3.19(a).

  • Approved Appraisal Firm Each of the following firms: Xxxxxxxx Xxxxx, Inc., Duff & Xxxxxx LLC, Lincoln Advisors, Xxxxxx, Xxxxxx and Company and Valuation Research Corporation and (b) each Independent financial adviser of recognized standing retained by the Issuer, the Collateral Manager or the agent or lenders under any Collateral Obligation, as approved by the Collateral Manager.

  • Appraisal Percentage means 90%.

  • Acceptable Appraisal means, with respect to an appraisal of Inventory, the most recent appraisal of such property received by Agent (a) from an appraisal company satisfactory to Agent, (b) the scope and methodology (including, to the extent relevant, any sampling procedure employed by such appraisal company) of which are satisfactory to Agent, and (c) the results of which are satisfactory to Agent, in each case, in Agent’s Permitted Discretion.

  • Conversion Valuation Appraisal Report Page: 1 - 3 ================================================================================

  • Appraisal Well means a Well drilled pursuant to an Appraisal Programme.

  • Required Appraisal means, with respect to each Required Appraisal Loan, an appraisal of the related Mortgaged Property from an Independent Appraiser selected by the party required or authorized to obtain such appraisal hereunder, which appraisal shall be prepared in accordance with 12 CFR ss. 225.62 and conducted in accordance with the standards of the Appraisal Institute or, in the case of a Required Appraisal Loan having a Stated Principal Balance of, or in the case of a Mortgaged Property that has an allocated loan amount of, less than $2,000,000, if no satisfactory (as determined by the Special Servicer pursuant to Section 3.09(a)) appraisal meeting the foregoing criteria was obtained or conducted within the prior 12 months, a "desktop" value estimate performed by the Special Servicer.

  • SOFR Interest Determination Date means the day that is the number of U.S. Government Securities Business Days prior to the Interest Payment Date in respect of the relevant Interest Period, as specified in the applicable Pricing Supplement.In addition to defining the relevant Interest Periods and Interest Payment Dates, the applicable Pricing Supplement shall specify and describe, as applicable, any relevant interest commencement date, interest period end date, interest determination date, index maturity, rate cut-off date, any other terms relating to the particular method of calculating interest on the Compound SOFR Note (including any applicable payment delay, lockout or suspension period, lookback or observation shift) and any other terms applicable specifically to such Compound SOFR Note.Average SOFR NotesUnless otherwise provided for or modified in the applicable Pricing Supplement, Average SOFR Notes will bear interest at a rate per annum equal to Average SOFR (as defined below) plus the Spread.With respect to any Interest Period, unless otherwise specified or modified in the applicable Pricing Supplement, “Average SOFR” will be calculated by the Calculation Agent on each SOFR Interest Determination Date (as defined below) as follows (with the resulting percentage being rounded, if necessary, to the nearest one hundred-thousandth of a percentage point, with 0.000005 being rounded upwards to 0.00001): 0 Where:

  • Appraisal Report A report setting forth the fair market value of a Mortgaged Property as determined by an appraiser who, at the time the appraisal was conducted, met the minimum qualifications of FNMA and FHLMC for appraisers of conventional residential mortgage loans.

  • Cumulative Appraisal Reduction Amount As of any date of determination by the Special Servicer, the sum of (i) all Appraisal Reduction Amounts then in effect, and (ii) with respect to any AB Modified Loan, any Collateral Deficiency Amount then in effect. The Certificate Administrator and the Master Servicer shall be entitled to conclusively rely on the Special Servicer’s calculation or determination of any Cumulative Appraisal Reduction Amount. None of the Master Servicer, the Trustee nor the Certificate Administrator shall calculate or verify any Cumulative Appraisal Reduction Amount.

  • Appraisal District means the Xxxxxx County Appraisal District.

  • Acquisition Period means the period ending five (5) business days prior to

  • Appraisal Reduction Amount shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • SOFR Benchmark Transition Event means the occurrence of a Benchmark Transition Event with respect to the then-current Benchmark;

  • Appraisal Procedure means a procedure whereby two independent appraisers, one chosen by the Company and one by the Original Warrantholder, shall mutually agree upon the determinations then the subject of appraisal. Each party shall deliver a notice to the other appointing its appraiser within 15 days after the Appraisal Procedure is invoked. If within 30 days after appointment of the two appraisers they are unable to agree upon the amount in question, a third independent appraiser shall be chosen within 10 days thereafter by the mutual consent of such first two appraisers. The decision of the third appraiser so appointed and chosen shall be given within 30 days after the selection of such third appraiser. If three appraisers shall be appointed and the determination of one appraiser is disparate from the middle determination by more than twice the amount by which the other determination is disparate from the middle determination, then the determination of such appraiser shall be excluded, the remaining two determinations shall be averaged and such average shall be binding and conclusive upon the Company and the Original Warrantholder; otherwise, the average of all three determinations shall be binding upon the Company and the Original Warrantholder. The costs of conducting any Appraisal Procedure shall be borne by the Company.

  • Extension Determination Date means, in respect of a Series of Covered Bonds, the date falling two Business Days after the expiry of seven days from (and including) the Final Maturity Date of such Covered Bonds.

  • Appraisal Foundation means the Appraisal Foundation established on November 30, 1987, as a not-for-profit corporation under the laws of Illinois.

  • Monthly Report Determination Date The meaning specified in Section 10.7(a).

  • Non-Lead Securitization Determination Date means the “determination date” (or any term substantially similar thereto) as defined in the related Non-Lead Securitization Servicing Agreement.

  • Reais Transfer Date means each Business Day of each calendar month following a Business Day when, as of the Balance Transfer Time for the Bond Administrator, there are available funds in the Collections Account for allocation in accordance with the Indenture.

  • Current Appraisal With respect to any Mortgage Loan as to which the Purchaser has made an Election to Delay Foreclosure, an appraisal of the related Mortgaged Property obtained by the Purchaser at its own expense from an independent appraiser (which shall not be an affiliate of the Purchaser) acceptable to the Company as nearly contemporaneously as practicable to the time of the Purchaser's election, prepared based on the Company's customary requirements for such appraisals. Election to Delay Foreclosure: Any election by the Purchaser to delay the Commencement of Foreclosure, made in accordance with Section 2.02(b).

  • Interest Calculation Period means the period or periods for the calculation of the interest shown on the mortgage form;

  • ii) Trigger Date shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Benchmark Transition Event means the occurrence of one or more of the following events with respect to the then-current Benchmark: