Examples of CGMRC in a sentence
In the event of a resignation or removal of the Cap Trustee, CGMRC, as majority holder of the Class CE Certificates, or its designee, shall promptly appoint a successor Cap Trustee.
No resignation or removal of the Cap Trustee and no appointment of a successor Cap Trustee shall become effective until the appointment by CGMRC, as majority holder of the Class CE Certificates, or its designee, of a successor Cap Trustee.
The portion of the VRR Interest that CGMRC is so purchasing from the Depositor on the Closing Date and thereafter continuing to retain, as such portion of the VRR Interest may be exchanged pursuant to Section 5.13, is referred to in this Agreement as the “VRR1 Interest”.
If the Lead Securitization Note Holder so requests, the CGMRC Entity holding the New Notes (and any subsequent holder of such Notes) shall execute a confirmation of the continuing applicability of this Agreement to the New Notes, as so modified.
In the event the Cap Contract is terminated as a result of the designation by either party thereto of an Early Termination Date (as defined therein), CGMRC, as majority holder of the Class CE Certificates, or its designee, shall find a replacement counterparty to enter into a replacement cap contract.
In connection with the foregoing (provided the conditions set forth in (i) through (iv) above are satisfied, with respect to (i) through (iv), as certified by the CGMRC Entity, on which certification the Master Servicer can rely), the Master Servicer is hereby authorized and directed to execute amendments to the Mortgage Loan Documents and this Agreement on behalf of any or all of the Note Holders, as applicable, solely for the purpose of reflecting such reallocation of principal.
The Cap Trustee shall, at the direction of CGMRC, as majority holder of the Class CE Certificates, or its designee, enforce all of its rights and exercise any remedies under the Cap Contract.
This Resizing Amendment shall become effective upon its having been duly executed by Xxxxx Fargo, as Master Servicer under the Lead Securitization Servicing Agreement on behalf of the Holders and acknowledged and accepted by CGMRC with respect to Sections 1 and 2 hereof.
In addition, on the Closing Date, pursuant to the VRR Interest Purchase Agreement, CGMRC is purchasing $22,556,995 of the VRR Interest for cash from the Depositor, NREC is purchasing $5,575,671 of the VRR Interest for cash from CGMRC, and PCC is purchasing $4,827,664 of the VRR Interest for cash from CGMRC, with CGMRC to retain the remaining $12,153,660 of the VRR Interest.
CGMRC hereby certifies that the conditions set forth in clauses (i) through (iv) of Section 31 of the Co-Lender Agreement have been satisfied with respect to the New Notes.