BPO Reconciliation Process definition

BPO Reconciliation Process means, in respect of any Property, the process pursuant to which a BPO Determined Value is adjusted in accordance with the terms hereof. A BPO Determined Value may be adjusted if the “as is” value presented in any Broker Price Opinion for a Property is not reasonably acceptable to the Administrative Agent, the Majority Lenders or the Borrower Representative, and the Administrative Agent or the Majority Lenders, as applicable, notify the Borrower Representative thereof, in the case of an objection by the Majority Lenders, in accordance with Section 10.22 or the Borrower Representative notifies the Administrative Agent of its objection to the BPO Determined Value, in the case of an objection by the Borrower Representative. Any such objection shall be given by written notice by no later than the earlier of (x) ten (10) Business Days following receipt of the related Broker Price Opinion or (y) two (2) Business Days prior to the Borrowing Date of the related Loan in the case of a Broker Price Opinion for a Pending Advance Property. If an objection is properly given, the Administrative Agent shall request that the Diligence Agent reconsider the value for such Property. The Borrower Representative, the Administrative Agent and/or the objecting Majority Lenders shall be provided the opportunity to deliver additional information, including sales of comparable homes or other evidence of market value or a broker price opinion or appraisal (as applicable) from an independent third party, to the Administrative Agent in connection with any such reconsideration, and the Administrative Agent shall forward to the Diligence Agent any such additional information which the Administrative Agent has received within five (5) Business Days of the objection to the BPO Determined Value. The Administrative Agent will direct the Diligence Agent to deliver a final Broker Price Opinion within ten (10) Business Days of the objection to the BPO Determined Value and the BPO Determined Value set forth in such Broker Price Opinion shall be the BPO Determined Value for the applicable Property for purposes of this Agreement until a new BPO Determined Value is determined pursuant to the definition thereof. If the Administrative Agent, the Majority Lenders or the Borrower Representative objects to a BPO Determined Value with respect to any Pending Advance Property for the related Loan prior to the Borrowing Date therefor, then, unless the BPO Determined Value has been reconsidered by the Dilige...
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BPO Reconciliation Process means, in respect of any Property, the process pursuant to which a BPO Determined Value is adjusted in accordance with the terms hereof. A BPO Determined Value may be adjusted if the “as is” value presented in any Broker Price Opinion for a Property (i) is not reasonably acceptable to the Administrative Agent or the Thirty-Three Percent Lenders, and the Administrative Agent or the Thirty-Three Percent Lenders, as applicable, notify the Borrower Representative thereof, in the case of an objection by the Thirty-Three Percent Lenders, in accordance with Section 10.20, by no later than within ten (10) Business Days following funding of a related Property Loan or (ii)(A) is less than the Purchase Price for such Property by an amount equal to the greater of (x) 5% of the Purchase Price for such Property and (y) $5,000 and (B) if so requested by the Borrower Representative by no later than within ten (10) Business Days of funding of a related Property Loan, the Administrative Agent shall request that the Diligence Agent reconsider the value for such Property. The Borrower Representative and/or the objecting Thirty-Three Percent Lenders shall be provided the opportunity to deliver additional information, including sales of comparable homes or other evidence of market value or a broker price opinion or appraisal (as applicable) from an independent third party, to the Administrative Agent and the Lenders in connection with any such reconsideration, and the Administrative Agent shall forward such additional information to the Diligence Agent. Any revised “as is” value for such Property (if any) determined by the Diligence Agent shall be submitted to the Administrative Agent and the Borrower Representative.
Sample 1Sample 2Sample 3
BPO Reconciliation Process means, in respect of any Property, the process pursuant to which a BPO Determined Value is adjusted in accordance with the terms hereof. A BPO Determined Value may be adjusted if the “as is” value presented in any Broker Price Opinion for a Property (i) is not reasonably acceptable to the Administrative Agent, and the Administrative Agent notifies the Borrower Representative thereof by no later than within ten (10) Business Days following funding of a related Loan or (ii)(A) is less than the Purchase Price for such Property by an amount equal to the greater of (x) 5% of the Purchase Price for such Property and (y) $5,000 and (B) if so requested by the Borrower Representative by no later than within ten (10) Business Days of funding of a related Loan, the Administrative Agent shall request that the Diligence Agent reconsider the value for such Property. The Borrower Representative shall be provided the opportunity to deliver additional information, including sales of comparable homes or other evidence of market value or a broker price opinion or appraisal (as applicable) from an independent third party, to the Administrative Agent and the Lenders in connection with any such reconsideration, and the Administrative Agent shall forward such additional information to the Diligence Agent. Any revised “as is” value for such Property (if any) determined by the Diligence Agent shall be submitted to the Administrative Agent and the Borrower Representative.
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More Definitions of BPO Reconciliation Process

BPO Reconciliation Process means, in respect of any Property, the process pursuant to which a BPO Determined Value is adjusted in accordance with the terms hereof. A BPO Determined Value may be adjusted if the “as is” value presented in any Broker Price Opinion for a Property (i) is not reasonably acceptable to the Administrative Agent or any Fifty Percent Lender, and the Administrative Agent or such Fifty Percent Lender notifies the Borrower Representative thereof by no later than within ten (10) Business Days following funding of a related Property Loan or (ii)(A) is less than the Purchase Price for such Property by an amount equal to the greater of (x) 5% of the Purchase Price for such Property and (y) $5,000 and (B) if so requested by the Borrower Representative by no later than within ten (10) Business Days of funding of a related Property Loan, the Administrative Agent shall request that the Diligence Agent reconsider the value for such Property. The Borrower Representative and/or the objecting Fifty Percent Lender shall be provided the opportunity to deliver additional information, including sales of comparable homes or other evidence of market value or a broker price opinion or appraisal (as applicable) from an independent third party, to the Administrative Agent and the Lenders in connection with any such reconsideration, and the Administrative Agent shall forward such additional information to the Diligence Agent. Any revised “as is” value for such Property (if any) determined by the Diligence Agent shall be submitted to the Administrative Agent and the Borrower Representative.
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Related to BPO Reconciliation Process

  • Reconciliation Procedures means those procedures set forth in Section 7.09 of this Agreement.

  • Reconciliation means coordination of premium tax credit with advance payments of premium tax credit (APTC), as described in Section 36B(f) of IRC (26 USC § 36B(f)) and 26 CFR Section 1.36B-4(a) (July 26, 2017), hereby incorporated by reference.

  • Reconciliation Report refers to the Reconciliation Report as referenced in s. 1 of Reg 200/21 under Connecting Care Act, 2019.

  • Reconciliation Date means the last calendar day of each Reconciliation Period.

  • Reconciliation Period is each calendar month.

  • CREFC® Interest Shortfall Reconciliation Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Interest Shortfall Reconciliation Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • CREFC® Reconciliation of Funds Report A monthly report substantially in the form of, and containing the information called for in, the downloadable form of the “Reconciliation of Funds Report” available as of the Closing Date on the CREFC® Website or in such other form for the presentation of such information and containing such additional information as may from time to time be recommended by the CREFC® for commercial mortgage-backed securities transactions generally; provided that, to the extent that such other form contemplates such additional information, such other form must be reasonably acceptable to the Certificate Administrator.

  • Root Cause Analysis Report means a report addressing a problem or non-conformance, in order to get to the ‘root cause’ of the problem, which thereby assists in correcting or eliminating the cause, and prevent the problem from recurring.

  • CREFC® Reconciliation of Funds Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Reconciliation of Funds Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • CREFC® Operating Statement Analysis Report The monthly report in the “Operating Statement Analysis Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Operating Statement Analysis Report format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • CMSA Operating Statement Analysis Report means a report substantially in the form of, and containing the information called for in, the downloadable form of the "Operating Statement Analysis Report" available as of the Closing Date on the CMSA Website or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage-backed securities transactions generally.

  • Liquidation Process Regulations means, the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations 2016 as amended from time to time;

  • Reconciliation Dispute has the meaning set forth in Section 7.9 of this Agreement.

  • Audit Report means a report summarising the testing completed and the actions arising following an Audit;

  • E-Statement means an electronic version of daily confirms, monthly, quarterly or annual statements, and shareholder tax statements created with investor transaction data housed on DST’s TA2000® mutual fund record keeping system, with images available online via a secure web site.

  • CREFC® REO Liquidation Report Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “REO Liquidation Report Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • Auditor’s Report means the auditor’s report on the Financial Report; “AEDT” means Australian Eastern Daylight Standard Time.

  • cost accountant means a cost accountant as defined in clause (b) of sub-section (1) of section 2 of the Cost and Works Accountants Act, 1959 (23 of 1959) and who has obtained a certificate of practice under sub-section (1) of section 6 of that Act;

  • Compliance Statement is that certain statement in the form attached hereto as Exhibit B.

  • Independent Verification means that an evaluation is undertaken and reported by an individual or body whose organisation, systems and procedures conform to ISO Guide 65:1996 (EN 45011:1998) General requirements for bodies operating product certification systems (as amended form time to time) or equivalent, and who is accredited to audit against forest management standards by a body whose organisation, systems and procedures conform to ISO 17011: 2004 General Requirements for Providing Assessment and Accreditation of Conformity Assessment Bodies (as amended from time to time) or equivalent.

  • Auditing Services means those services within the scope of the practice of a certified public accounting firm licensed under Chapter 473 of the Florida Statutes, and qualified to conduct audits in accordance with government auditing standards as adopted by the Florida Board of Accountancy.

  • Fee and Expense Application means the motion to be filed by Class Counsel, in which they will seek approval of an award of attorneys’ fees, costs, and expenses, as well as an Incentive Award for the Class Representative.

  • Reporting Accountants means the auditors of National Grid (but not acting in their capacity as auditors) or such other firm of accountants as may be nominated by National Grid and approved in writing by the Trustee for the purpose or, failing which, as may be selected by the Trustee for the purpose; and

  • Certification Practice Statement means a statement issued by a Certifying Authority to specify the practices that the Certifying Authority employs in issuing Digital Signature Certificates;

  • certified extract means an extract that has been certified as a true copy of some of the information contained in a complete original document by one of the persons described below.