Building Mortgage definition
Examples of Building Mortgage in a sentence
In addition, upon Lessor's written request, the policies shall name as mortgagee, loss payee and additional insured the holder ("Building Mortgagee") of any mortgage, deed of trust or other security agreement and any other Encumbrance placed on the Leased Property in accordance with the provisions of Article XXXII, as well as any other entity interested in the Leased Property ("Building Mortgage") by way of a standard form of mortgagee's loss payable endorsement.
The Trustee, solely in its capacity as Trustee on behalf of the Trust Fund and on behalf of the Certificateholders, hereby assumes the obligations of the holder of each Non-Serviced Mortgage Loan under the related Intercreditor Agreements and, in the case of the General Motors Building Mortgage Loan, the General Motors Building Agreement Among Noteholders; provided that the Master Servicer, on behalf of the Trustee, will perform any applicable obligations set forth therein.
The parties acknowledge that, pursuant to the COMM 2005-LP5 Pooling and Servicing Agreement and the GE 2005-C2 Pooling and Servicing Agreement, the COMM 2005-LP5 Master Servicer and the GE 2005-C2 Master Servicer are each obligated to make servicing advances with respect to the Mortgaged Properties related to the General Motors Building Mortgage Loan, the ▇▇▇ ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ Mortgage Loan, the Loews Miami Beach Mortgage Loan and the Wellpoint Office Tower Mortgage Loan, as applicable.
The cost of such inspection by the Special Servicer shall be an expense of the Trust Fund, reimbursed first from Penalty Charges (but with respect to the Grace Building Mortgage Loan, only from amounts available for such purpose under the Grace Building Co-Lender Agreement) actually received from the related Mortgagor and then from the Certificate Account pursuant to Section 3.05(a)(ii).
The Special Servicer shall notify the Trustee, the Servicer and the Certificateholder that owns the largest aggregate Certificate Balance of the Controlling Class (the "Controlling Class Option Holder") and the Grace Building Companion Noteholders with respect to the Grace Building Mortgage Loan, promptly upon its making a fair value determination and any subsequent adjustment thereto.