Acquired REO Property definition

Acquired REO Property means any real property (and related personal property) included in the Acquired Property.
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Examples of Acquired REO Property in a sentence

  • The Company shall not take title in its own name to any Acquired REO Property, and any acquisition or ownership of any such Acquired REO Property shall be subject to Sections 12.17 and 12.18 and the relevant terms of the Servicing Agreement.

  • From and after the completion of any buildings or other improvements at an Acquired REO Property, the Manager shall cause the applicable Ownership Entity to maintain such Acquired REO Property in a good and safe condition and repair (subject to such alterations as the Manager may from time to time determine to be appropriate in accordance with the Servicing Standard and applicable requirements herein and in the other Transaction Documents) and in accordance with applicable Law.

  • The Manager shall not permit any Ownership Entity to suffer, permit or initiate the joint assessment of Acquired REO Property (i) with any other real property constituting a Tax lot separate from such Acquired REO Property, and (ii) with any portion of a Acquired REO Property which may be deemed to constitute personal property, or any other procedure whereby the Lien of any Taxes which may be levied against such personal property shall be assessed or levied or charged to such Acquired REO Property.

  • With respect to each Acquired REO Property, the Manager shall cause the applicable Ownership Entity to (i) perform the obligations that such Ownership Entity is required to perform under the leases to which it is a party in all material respects and (ii) enforce, in accordance with commercially reasonable practices for properties similar to the applicable Acquired REO Property, the material obligations to be performed by the tenants under such leases.

  • All property managers with respect to any Acquired REO Property shall, in their respective property management agreements or by separate agreement, subordinate their rights under such agreements (including their right to receive management fees) to the rights and interest of the Collateral Agent under the applicable REO Mortgage.

  • The Manager shall furnish to the Initial Member and the Collateral Agent such reports regarding the construction, leasing and sales efforts of or relating to the Acquired REO Property as the Initial Member or the Collateral Agent shall reasonably request.

  • The Manager shall not permit the applicable Ownership Entity to subordinate or consent to the subordination of any ground lease to any mortgage, lease or other interest on or in the ground lessor’s interest in the applicable Acquired REO Property without the prior consent of the Collateral Agent unless such subordination is required under the provisions of such ground lease.

  • With respect to any Acquired REO Property that is leased under a ground or other lease (in each case, a “ground lease”), the Manager shall cause the applicable Ownership Entity to (i) pay all rents and other sums required to be paid by the tenant under and pursuant to the provisions of the applicable ground lease as and when such rent or other charge is payable, and (ii) diligently and timely perform and observe all of the terms, covenants and conditions binding on the tenant under the ground lease.

  • Any Discretionary Funding Advances are to be deposited into the Collection Account, from which the funds will be available to be disbursed to the Borrower (with respect to the Collateral) or used by the Company (with respect to the Acquired REO Property), as applicable, to pay the Permitted Vertical Completion Expenses relating to the specified Asset.

  • Horizontal Development (and related expenses) with respect to Acquired REO Property shall be performed and/or funded in accordance with, and to the extent expressly set forth in, a Horizontal Development Plan approved by the Initial Member in accordance herewith (such approved Horizontal Development pursuant to such Horizontal Development Plan, “Permitted Horizontal Development”).

Related to Acquired REO Property

  • Original Collateral Sale Date means 1 December 2020.

  • Specified Property means property for which an election has been made for a special elective benefit.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Qualified Property has the meaning set forth in Section 313.021(2) of the TEXAS TAX CODE and as interpreted by the Comptroller’s Rules and the Texas Attorney General, as these provisions existed on the Application Review Start Date.

  • Acquired Property shall have the meaning set forth in Section 5.1.10(h)(i) hereof.

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • Excluded Properties the collective reference to the fee or leasehold interest in real properties owned by the Parent Borrower or any of its Subsidiaries not described in Schedule 5.8.

  • Real Property Assets means, as of any time, the real property assets (including interests in participating mortgages in which the Borrower’s interest therein is characterized as equity according to GAAP) owned directly or indirectly by the Borrower, EQR and the Consolidated Subsidiaries of either or both at such time.

  • Appraised Value The value set forth in an appraisal made in connection with the origination of the related Mortgage Loan as the value of the Mortgaged Property.