Basic Mortgage Asset Documents shall have the meaning set forth in the Custodial Agreement.

Basic Mortgage Asset Documents. Means the following original (except as otherwise permitted in Section 3.01 of the Custodial Agreement), fully executed and complete documents (in each case together with an original general assignment, an original assignment or allonge, as applicable, executed in blank and, as applicable, an original assignment and assumption agreement or any similar document required by the terms of the applicable Mortgage Loan Documents to effectuate an assignment of such Asset, executed by Seller in blank): the Mortgage Note (or, in the case of a Senior Interest consisting of a participation interest, the related participation certificate), the Mortgage (or a copy of the recorded Mortgage), the assignment of Mortgage (or, if such instrument assigns the Mortgage to Seller, a copy of the recorded assignment of Mortgage), the assignment of leases and rents (or a copy of the recorded assignment of leases and rents), if any, the assignment of assignment of leases and rents (or, if such instrument assigns the assignment of leases and rents to Seller, a copy of the recorded assignment of assignment of leases and rents), if any, and the related security agreement, if applicable.

Basic Mortgage Asset Documents. Means the following original (except as otherwise permitted in Section 2.01 of the Custodial Agreement), fully executed and complete documents (in each case together with an original general assignment, an original assignment or allonge, as applicable, executed in blank and, as applicable, an original assignment and assumption agreement or any similar document required by the terms of the applicable Purchased Asset Documents to effectuate an assignment of such Asset, executed by Seller in blank): (1) the Mortgage Note or Mezzanine Note, as applicable (or, in the case of a Senior Interest consisting of a participation interest, the related participation certificate, with a certified true and correct copy of the related Mortgage Note), (2) the Mortgage (and, in the case of a Mezzanine Loan, all related pledge and security agreements and UCC-1 financing statements executed in connection therewith), (3) the assignment of Mortgage, (4) the assignment of leases and rents, if any, (5) the assignment of assignment of leases and rents (if applicable), and (6) the related security agreement (if applicable and, in the case of a Mezzanine Loan, each original certificate representing the related Equity Interests, together with an undated stock power, covering each such certificate, duly executed in blank).

Examples of Basic Mortgage Asset Documents in a sentence

Pursuant to the Custodial Agreement, the Custodian shall deliver to the Deal Agent and the Seller by 11:00 a.m. on the Purchase Date for each Non– Table Funded Purchased Asset a Trust Receipt (along with a completed Mortgage Asset File Checklist attached thereto) and an Asset Schedule and Exception Report relating to the Basic Mortgage Asset Documents with respect to the Eligible Assets that the Seller has requested Purchaser purchase on such Purchase Date.

More Definitions of Basic Mortgage Asset Documents

Basic Mortgage Asset Documents. Means the following original (except as otherwise permitted in Section 2.01 of the Custodial Agreement), fully executed and complete documents (in each case together with an original general assignment, an original assignment or allonge, as applicable, of each such Basic Mortgage Asset Document, executed in blank and, as applicable, an original assignment and assumption agreement or any similar document required by the terms of the applicable Purchased Asset Documents to effectuate an assignment of such Asset, executed by Seller in blank): the Mortgage Note (or, in the case of a Senior Interest consisting of a participation interest, the related participation certificate, with a certified true and correct copy of the related Mortgage Note), the Mortgage, the assignment of Mortgage, the assignment of leases and rents, if any, the assignment of assignment of leases and rents (if applicable) and the related security agreement (if applicable).

Basic Mortgage Asset Documents. The following original (except as otherwise permitted in Section 2.01 of the Custodial Agreement), fully executed and complete documents (in each case together with the applicable Interim Assignment Documents and Blank Assignment Documents):

Basic Mortgage Asset Documents. Means the following original (except as otherwise permitted in Section 3.1 below), fully executed and completed documents (in each case together with an original Assignment, an original assignment or allonge, as applicable, of each Basic Mortgage Asset Document, executed in blank (or, where permitted by Subsection 3.1(j), an original omnibus assignment executed in blank) and, as applicable, an original assignment, assignment and assumption agreement or any similar document required by the terms of the applicable Mortgage Loan Documents to effectuate an assignment of such Mortgage Asset, executed by the Seller in blank), (i) with respect to any Whole Loan, CTL Loan or Subordinate CTL Loan that is a Whole Loan, the Mortgage Note, the Mortgage, the Assignment of Mortgage, the Assignment of Leases, the Security Agreement, and, as applicable, the Pledge Agreement, the stock, certificates or other instruments representing Pledged Stock and any related stock, certificate or other similar power, (ii) with respect to any Mezzanine Loan or Subordinate CTL Loan that is a Mezzanine Loan, the Mezzanine Note, the Pledge Agreement, the stock, certificate or other instruments representing Pledged Stock, any stock, certificate or other similar power, and, as applicable, any Mortgage, Assignment of Mortgage, Assignment of Leases and Security Agreement, (iii) with respect to any Junior Interest or Subordinate CTL Loan that is a Junior Interest, the Junior Interest Note and the Participation Agreement, (iv) with respect to a Bridge Loan, the Basic Mortgage Asset Documents for a Whole Loan, (v) with respect to a CMBS Security, the CMBS Security Certificate (if any), (vi) with respect to Senior Secured Bank Debt, the Senior Secured Bank Debt Note(s), the Mortgage (if any), the Assignment of Mortgage (if any), the Assignment of Leases (if any), the Security Agreement (if any), the Pledge Agreement (if any), the stock, certificates or other instruments representing Pledged Stock (if any), any related stock, certificate or other similar power and any other certificated collateral and (vii) with respect to any Preferred Equity Interest, the Preferred Equity Interest Documents.”

Basic Mortgage Asset Documents. Means the following original (except as otherwise permitted in Section 2.01 of the Custodial Agreement), fully executed and complete documents: (1) the Mortgage Note and/or, in the case of a Senior Interest consisting of a participation interest, the related participation certificate, with a certified true and correct copy of the related Mortgage Note, (2) the Mortgage and UCC-1 financing statements executed in connection therewith, (3) the assignment of leases and rents, if any, (4) the Interim Assignment Documents and (5) the Blank Assignment Documents. “Benchmark”: (A) With respect to any LIBOR Based Transaction, subject to Section 12.01(a) hereof, USD LIBOR, (B) with respect to any SOFR Based Transaction for which the Applicable SOFR is initially the SOFR Average (including, without limitation, any such SOFR Based Transaction resulting from a Rate Conversion pursuant to Section 12.01(a) for which the Applicable SOFR designated in the related notice of Rate Conversion is the SOFR Average), initially, 30-Day SOFR Average; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to 30-Day SOFR Average or the then- current Benchmark in accordance with Section 12.01(b) for purposes of this clause (B), then, for purposes of this clause (B), “Benchmark” shall mean the applicable Benchmark Replacement to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to clause (b) of Section 12.01, and (C) with respect to any SOFR Based Transaction for which the Applicable SOFR is initially Term SOFR (including, without limitation, any such SOFR Based Transaction resulting from a Rate Conversion pursuant to Section 12.01(a) for which the Applicable SOFR designated in the related notice of Rate Conversion is Term SOFR), initially, the Term SOFR Reference Rate; provided that if a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to the Term SOFR Reference Rate or the then-current Benchmark in accordance with Section 12.01(b) for purposes of this

Basic Mortgage Asset Documents contained in Section 1.1 and Annex 13 of the Custodial Agreement is amended and restated as follows:

Basic Mortgage Asset Documents definition

Filter & Search

Related Definitions