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CMBS Security definition

CMBS Security. A CMBS Conduit Security or a CMBS Large Loan Security, as the case may be, but excluding any Single Asset Mortgage Security, Single Borrower Mortgage Security or Rake Bond.
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CMBS Security. A performing fixed or floating rate mortgage-backed pass-through certificate, representing a beneficial ownership interest in one or more first lien mortgage loans secured by Commercial Real Estate, rated by at least two (2) Rating Agencies as AAA (including AAA IO), AA+, AA, AA-, A+, A, A-, BBB+, BBB, BBB-, XX+, XX, XX-, B+, B or B-.
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CMBS Security. Any commercial mortgage-backed security.
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Examples of CMBS Security in a sentence

  • With respect to any CMBS Security or CRE CDO Security that is a certificated security, such Security is a certificated security in registered form, or is in uncertificated form and held through the facilities of (a) The Depository Trust Company in New York, New York, or (b) such other clearing organization or book-entry system as is designated in writing by the Issuer.

  • To Seller’s best knowledge, except as included in the Collateral File, (i) no interest shortfalls have occurred and no realized losses have been applied to such CMBS Security or CRE CDO Security or otherwise incurred with respect to any mortgage loan related to such CMBS Security or CRE CDO Security, and (ii) the Seller is not aware of any circumstances that could have a material adverse effect on such CMBS Security or CRE CDO Security.

  • Upon consummation of the purchase contemplated to occur in respect of such Security on the Closing Date, Seller will have validly and effectively conveyed to Issuer all legal and beneficial interest in and to such CMBS Security or CRE CDO Security free and clear of any and all liens, pledges, encumbrances, charges, security interests or any other ownership interests of any nature.

  • The Seller or the Servicer on its behalf shall establish, on or before the date any CMBS Security becomes a part of the Collateral, an account with the Securities Intermediary to which financial assets may be credited (the “Securities Account”) pursuant to Section 8.11.

  • In the case of any CMBS Security or CRE CDO Security that is a certificated security, Seller has delivered to Issuer or its designee such certificated security, along with any and all certificates, assignments, and bond powers executed in blank, necessary to transfer such certificated security under the issuing documents of such CMBS Security or CRE CDO Security.

  • The CMBS Security consists of pass-through certificates Rated no lower than B representing beneficial ownership interests in one or more first lien mortgage loans secured by commercial and/or multifamily properties.

  • With respect to any CMBS Security that is a certificated security, Seller has delivered to Issuer or its designee such certificated security, along with any and all certificates, assignments, bond powers executed in blank, necessary to transfer such certificated security under the issuing documents of such CMBS Security.

  • As of the date of its issuance, such CMBS Security complied in all material respects with, or was exempt from, all requirements of federal, state or local law relating to the issuance thereof including, without limitation, any registration requirements of the Securities Act of 1933, as amended.

  • In addition, with respect to a CMBS Security, the Seller shall not exercise any material rights of a holder of a CMBS Security under any other document or agreement governing such CMBS Security without the prior written consent of the Buyer.

  • In addition, with respect to a CMBS Security, the Seller shall not exercise any material rights of a holder of a CMBS Security under any other document or agreement governing such CMBS Security without the prior written consent of the Deal Agent.


More Definitions of CMBS Security

CMBS Security means (a) a performing fixed or floating rate mortgage–backed pass–through certificate, representing a beneficial ownership interest in one or more first lien mortgage loans secured by Commercial Real Estate or (b) a performing fixed or floating rate certificate in a CDO Issuance, in each case rated by at least two (2) Rating Agencies as (i) in the case of Term Loan Collateral, AAA (including AAA IO), AA+, AA, AA-, A+, A, A-, BBB+, BBB, BBB-, XX+, XX, XX-, B+, B or B- and (ii) in the case of Revolving Loan Collateral, AAA (including AAA IO), AA+, AA, AA-, A+, A, A-, BBB+, BBB or BBB-; provided that on a case by case basis, the Administrative Agent may consider CMBS Securities rated XX+, XX, XX-, B+, B or B-, subject to such terms and conditions as the Administrative Agent may require in its discretion, such terms to be set forth in the related Confirmation.
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CMBS Security means a Security backed by Commercial Mortgage Loans Rated no lower than B.
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CMBS Security means (a) a security representing a class of a commercial mortgage loan securitization backed by first lien mortgage loans secured by commercial and/or multifamily properties or other loans secured directly or indirectly by a mortgage encumbering an interest in property or (b) a security representing non-recourse or limited recourse collateralized debt obligations issued by a special purpose vehicle, secured solely by the assets thereof.
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CMBS Security means a CMBS Conduit Security, a CMBS Credit Tenant Security, a CMBS Large Loan Security, or a Rake Bond, as the case may be.
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CMBS Security means (a) a security representing a class of a commercial mortgage loan securitization backed by first lien mortgage loans secured by commercial and/or multifamily properties or other loans secured directly or indirectly by a mortgage encumbering an interest in property or (b) a security representing non-recourse or limited recourse collateralized debt obligations issued by a special purpose vehicle, secured solely by the assets thereof. Notwithstanding anything contained in the Credit Documents to the contrary, subject to the other requirements contained in this Agreement, CMBS Securities may be financed under the Term Loans and pledged as Term Loan Collateral, but CMBS Securities may not be financed under the Revolving Loans or pledged as Revolving Loan Collateral.
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Related to CMBS Security

  • of a Security means the principal of the Security plus the premium, if any, payable on the Security which is due or overdue or is to become due at the relevant time.

  • Russian Security means a Security issued by a Russian issuer.

  • German Security means the assets which are the subject of a security document which is governed by German law.

  • Bid Security means the bid security provided by the Contractor to the Authority in accordance with the Request for Proposal, and which is to remain in force until substituted by the Performance Security;

  • Asset-backed security means a security that is primarily serviced by the cash flows of a discrete pool of mortgages, receivables or other financial assets, fixed or revolving, that by their terms convert into cash within a finite period and any rights or other assets designed to assure the servicing or the timely distribution of proceeds to securityholders;

  • Agency Security means a mortgage-backed security issued by an Agency.

  • UK Security Agreement means each of the security documents expressed to be governed by the laws of England (as modified, supplemented, amended or amended and restated from time to time) covering certain of such UK Loan Party’s present and future UK Collateral.

  • U.S. Security Agreement means the security and pledge agreement, dated as of the Original Closing Date (as amended, restated, supplemented or otherwise modified from time to time), executed in favor of the Administrative Agent and the other “Secured Parties” described therein by each of the Loan Parties party thereto.

  • Mortgage-Backed Security means a security issued by the authority which is secured by residential mortgage loans owned by the authority.

  • Reference Security means the security specified as such in the relevant Final Terms. If a Reference Security is no longer outstanding, a Similar Security will be chosen by the Quotation Agent at 11:00 a.m. (CET) on the third Business Day preceding the Make-whole Redemption Date, quoted in writing by the Quotation Agent to the Issuer and published in accordance with Condition 12 (Notices).

  • Collateral Security means security, other than a security interest in a motor vehicle that is the subject of an installment sale contract, that is given to secure performance of an obligation of the buyer, or of any surety or guarantor for the buyer, under an installment sale contract. The term includes the undertakings of any surety or guarantor for the buyer and any interest in, encumbrance on, or pledge of real or personal property other than the motor vehicle that is the subject of the installment sale contract.

  • Worthless security means a security whose cost of liquidation and delivery to the administrator would exceed the value of the security on the date a report is due under this chapter.

  • Mortgage-related security means an obligation that is rated AA or higher (or the equivalent) by a securities rating agency recognized by the Securities Valuation Office of the NAIC and that either:

  • Canadian Security Agreement means the general security agreement, dated as of the date hereof (as amended, supplemented or otherwise modified from time to time), between the Borrower as “Debtor”, and Agent.

  • LCR Security means any commercial paper or security (other than equity securities issued to Parent or any Originator that is a consolidated subsidiary of Parent under GAAP) within the meaning of Paragraph __.32(e)(viii) of the final rules titled Liquidity Coverage Ratio: Liquidity Risk Measurement Standards, 79 Fed. Reg. 197, 61440 et seq. (October 10, 2014).

  • Special Purpose Securitization Subsidiary means (i) a direct or indirect Subsidiary of the Borrower established in connection with a Permitted Securitization Financing for the acquisition of Securitization Assets or interests therein, and which is organized in a manner (as determined by the Borrower in good faith) intended to reduce the likelihood that it would be substantively consolidated with Holdings (prior to a Qualified IPO), the Borrower or any of the Subsidiaries (other than Special Purpose Securitization Subsidiaries) in the event Holdings (prior to a Qualified IPO), the Borrower or any such Subsidiary becomes subject to a proceeding under the U.S. Bankruptcy Code (or other insolvency law) and (ii) any subsidiary of a Special Purpose Securitization Subsidiary.

  • Financial Security means Financial Security Assurance Inc., a New York stock insurance company, its successors and assigns.

  • Quasi-Security means an arrangement or transaction described in paragraph (b) below.

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Clearing Corporation Security means securities which are in the custody of or maintained on the books of a Clearing Corporation or a nominee subject to the control of a Clearing Corporation and, if they are Certificated Securities in registered form, properly endorsed to or registered in the name of the Clearing Corporation or such nominee.

  • Canadian Security Agreements means each of (a) that certain Amended and Restated Canadian Pledge and Security Agreement dated as of August 31, 2022, among the Canadian Loan Parties and the Administrative Agent, (b) any deed of hypothec entered into by a Canadian Loan Party in favor of the Administrative Agent and (c) as the context requires, any other pledge or security agreement (including Bank Act Security) after the Restatement Effective Date by any other Canadian Loan Party (as required by this Agreement or any other Loan Document), as the same may be amended, restated, supplemented or otherwise modified from time to time.

  • Guaranty and Security Agreement means a guaranty and security agreement, dated as of even date with this Agreement, in form and substance reasonably satisfactory to Agent, executed and delivered by each of the Loan Parties to Agent.

  • Security Bond means an amount payable by a tenant as security for the performance of his obligations under a residential tenancy agreement, including an amount referred to in section 29(1)(b)(ii);

  • Capital Security means a preferred undivided beneficial interest in the assets of the Issuer Trust, having a Liquidation Amount of $25 and having the rights provided therefor in this Trust Agreement, including the right to receive Distributions and a Liquidation Distribution as provided herein.

  • Pledged Asset Mortgage Servicing Agreement The Pledged Asset Mortgage Servicing Agreement, dated as of February 28, 1996 between MLCC and the Master Servicer. Pooling and Servicing Agreement or Agreement: With respect to any Series, this Standard Terms together with the related Series Supplement.

  • Security means a mortgage, charge, pledge, lien or other security interest securing any obligation of any person or any other agreement or arrangement having a similar effect.

Most Referenced Clauses

Most Referenced Definitions