Examples of B Loan Holder in a sentence
The limited liability company shall be a manager-managed limited liability company, with the Special Servicer to serve as the initial manager to manage the property of the limited liability company, including any applicable REO Property, in accordance with the terms of this Agreement as if such property was held directly in the name of the Trust or Trustee under this Agreement (and for the benefit of the related B Loan Holder if such REO Property is related to an A/B Loan Pair).
If an REO Acquisition shall occur, the Special Servicer shall establish and maintain one or more accounts (collectively, the "REO Account"), to be held on behalf of the Trustee (as holder of the Uncertificated Lower-Tier Interests) in trust for the benefit of the Certificateholders (and on behalf of the related B Loan Holder if such REO Property is related to an A/B Loan Pair), for the retention of revenues and other proceeds derived from each REO Property.
The purchase price paid by any B Loan Holder for the related A Loan in accordance with such purchase option shall be deposited into the Collection Account, and the Trustee, upon receipt of written notice from the Master Servicer to the effect that such deposit has been made, shall execute and deliver such instruments of transfer or assignment, in each case without recourse, as shall be provided to it and are reasonably necessary to vest ownership of such Mortgage Loan in the related B Loan Holder.
Payments to the Trust shall be made by transfer of the applicable funds to the Collection Account, and payments to the B Loan Holder shall be made in accordance with the related A/B Intercreditor Agreement.
Vice Chair McAdam asked Mr. Cormier why the property would devaluate by changing the zone.
To the extent that a Borrower shall fail to promptly respond to any inquiry described in this Section 3.03(e), the applicable Master Servicer shall notify the Trustee, the applicable Special Servicer, the Controlling Class Representative, the 622 Third Avenue B Loan Holder (with respect to the 622 Third Avenue Xxxx) xxx xxxx Xxxhington Center Junior Holder (with xxxxxxx xx xxx Washington Center Loan).
Payments to the Trust shall be made by transfer of the applicable funds to the Collection Account, and payments to the B Loan Holder shall be made in accordance with the related Intercreditor Agreement.
If such payment or reimbursement is subsequently recovered from the B Loan Holder (including, if permitted by the related A/B Intercreditor Agreement, by offset against subsequent amounts payable to the B Loan Holder), to the extent that any amounts were previously taken by the Master Servicer from its Collection Account, the amount recovered shall be deposited into its Collection Account and shall not be deposited into the A/B Loan Pair Custodial Account.
If title to any REO Property is acquired by or on behalf of the Trust (or, if such REO Property relates to a Mortgage Loan Combination, on behalf of the Trust Fund and the related B Loan Holder), then the Special Servicer shall establish and maintain one or more accounts (collectively, the "REO Account"), to be held on behalf of the Trustee in trust for the benefit of the Certificateholders (and any affected B Loan Holder), for the retention of revenues and other proceeds derived from such REO Property.
Nothing in this Section 3.18(c) shall be deemed to limit the ability of any B Loan Holder to purchase the related A loan in accordance with the related Intercreditor Agreement.