CMBS Securities definition

CMBS Securities means, any investment securities that represent an interest in, or are secured by, one or more pools of commercial mortgage loans or synthetic mortgages.

CMBS Securities means CMBS Conduit Securities, CMBS Large Loan Securities, CMBS Single Borrower Securities or CMBS Credit Tenant Lease Securities, as the case may be.

CMBS Securities means CMBS Conduit Securities, CMBS Credit Tenant Lease Securities, CMBS Large Loan Securities and CMBS Single Asset Securities.

Examples of CMBS Securities in a sentence

• All of the Borrowers’ right, title and interest in the Mortgage Assets that constitute CMBS Securities shall be pledged to the Administrative Agent on the applicable Borrowing Date.

• The Seller will not deposit or otherwise credit, or cause or permit to be so deposited or credited, to the Securities Account any item except uncertificated CMBS Securities that are Purchased Assets and all cash, property, proceeds, securities or investment property with respect to such Purchased Assets.

• No Credit Party shall acquire or maintain any right or interest in any Mortgage Asset (or, directly or indirectly, the Underlying Mortgaged Property with respect thereto) that is senior to or pari passu with the rights and interests of the Administrative Agent therein under this Agreement and the Credit Documents unless such interest is also part of the Collateral; provided that that foregoing negative covenant shall not apply to CMBS Securities.

• Affiliates of the Collateral Manager may serve as servicer, master servicer or special servicer with respect to other loans or issuances of CMBS Securities, the underlying mortgage loans of which are similar to, have affiliated or related borrowers or are secured by real estate located in the same market as the Collateral Interests or mortgage loans underlying an Underlying CMBS Series and may serve as collateral manager with respect to other issues of collateralized debt obligations.

• Affiliates of the Collateral Manager may serve as servicer, master servicer or special servicer with respect to other loans or issuances of CMBS Securities, the underlying mortgage loans of which are similar to, have affiliated or related borrowers or are secured by real estate located in the same market as the Collateral Interests or mortgage loans underlying the CMBS Securities and may serve as collateral manager with respect to other issues of collateralized debt obligations.

More Definitions of CMBS Securities

CMBS Securities. Securities that entitle the holders thereof to receive payments that depend (except for rights or other assets designed to assure the servicing or timely distribution of proceeds to holders of the securities) on the cash flow from a pool of commercial mortgage loans made to finance the acquisition, construction and improvement of properties. They generally have the following characteristics: (i) the commercial mortgage loans have varying contractual maturities; (ii) the commercial mortgage loans are secured by Interests in Real Property purchased or improved with the proceeds thereof (or to refinance an outstanding loan the proceeds of which were so used); (iii) the commercial mortgage loans are obligations of a relatively limited number of obligors and accordingly represent a relatively undiversified pool of obligor credit risk; (iv) repayment thereof can vary substantially from the contractual payment schedule (if any), with early prepayment of individual loans depending on numerous factors specific to the particular obligors and upon whether, in the case of loans bearing interest at a fixed rate, such loans or securities include an effective prepayment premium; and (v) the valuation of individual properties securing the commercial mortgage loans is the primary factor in any decision to invest in these securities.

CMBS Securities means CMBS Conduit Securities, CMBS Large Loan Securities, CMBS Credit Tenant Lease Securities and CMBS Single Property Securities.

CMBS Securities means Asset-Backed Securities that entitle the holders thereof to receive payments that depend (except for rights or other assets designed to assure the servicing or timely distribution of proceeds to holders of the Asset-Backed Securities) on the cash flow from (a) a pool of commercial mortgage loans made to finance the acquisition, construction and improvement of properties or (b) the leasing of such properties to corporate tenants. They generally have the following characteristics: (a) the commercial mortgage loans have varying contractual maturities; (b) the commercial mortgage loans are secured by real property purchased or improved with the proceeds thereof; (c) the commercial mortgage loans are obligations of a relatively limited number of obligors and accordingly represent a relatively undiversified pool of obligor credit risk; (d) repayment thereof can vary substantially from the contractual payment schedule (if any), with early prepayment of individual loans depending on numerous factors specific to the particular obligors and upon whether, in the case of loans bearing interest at a fixed rate, such loans or securities include an effective prepayment premium.

CMBS Securities or “CMBS” or has the meaning specified in Schedule K hereto.

CMBS Securities means CMBS Conduit Securities and CMBS Large Loan Securities. CMBS Single Property Securities shall not constitute "CMBS Securities" for the purpose of this Confirmation.

CMBS Securities means Collateral Debt Obligations, including any Single Asset Mortgage Security or Single Borrower Mortgage Security, that entitle the holders thereof to receive payments that depend (except for rights or other assets designed to assure the servicing or timely distribution of proceeds to holders of the Collateral Debt Obligations) on the cash flow from a pool of Underlying Loans made to finance the acquisition, construction and improvement of Underlying Properties.

CMBS Securities means CMBS Conduit Securities, CMBS Credit Tenant Lease Securities, CMBS Large Loan Securities (including CMBS Single Property Securities), CRE CDO Securities and any Asset-Backed Securities that entitle the holders thereof to receive payments that depend (except for rights or other assets designed to assure the servicing or timely distribution of proceeds to holders of the Asset-Backed Securities) on the cash flow from a portfolio of loans secured primarily by commercial real estate.