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.
Sample 1Sample 2Sample 3
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-.
Sample 1Sample 2
CMBS Security. Any commercial mortgage-backed security.
Sample 1Sample 2

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.

  • 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.

  • 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 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.

  • 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.

  • 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 any CMBS Security or otherwise incurred with respect to any mortgage loan related to such CMBS Security nor any class of CMBS Security issued under the same governing documents as any CMBS Security, and (ii) the Seller is not aware of any circumstances that could have a material adverse effect on the CMBS Security.

  • 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.

  • 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.

  • Upon consummation of the purchase contemplated to occur in respect of such CMBS 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 free and clear of any pledge, lien, encumbrance or security interest.

  • Upon consummation of the purchase contemplated to occur in respect of such CMBS 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 free and clear of any and all liens, pledges, encumbrances, charges, security interests or any other ownership interests of any nature.


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.
Sample 1Sample 2
CMBS Security means a Security backed by Commercial Mortgage Loans.
Sample 1
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.
Sample 1
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.
Sample 1
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.
Sample 1

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 (BS) means Earnest Money Deposit / monetary or financial guarantee to be furnished by a bidder along with its tender.

  • 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 that certain Security Agreement, dated as of the Original Effective Date (as amended, amended and restated, supplemented or otherwise modified from time to time), between the U.S. Loan Parties and the Administrative Agent, for the benefit of the Administrative Agent, and the other Lender Parties, and any other pledge or security agreement entered into, after the Original Effective Date by any other U.S. Loan Party (as required by this Agreement or any other Loan Document).

  • 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.

  • 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 that certain Security Agreement, dated as of the Original Effective Date (as amended, amended and restated, supplemented or otherwise modified from time to time), between the Canadian Loan Parties and the Administrative Agent, for the benefit of the Administrative Agent, and the other Lender Parties, and any other pledge or security agreement entered into, after the Original Effective Date by any other Canadian Loan Party (as required by this Agreement or any other Loan Document).

  • 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, collectively, those certain Amended and Restated Security Agreements, dated as of the Restatement Date, and those certain deeds of movable hypothec dated on or about the Restatement Date, made by the Canadian Credit Parties party thereto in favor of Agent, on behalf of itself and for the benefit of the Secured Parties, as 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 an undivided beneficial interest in the assets of the Issuer Trust, having a Liquidation Amount of $1,000 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.

  • Global Agency Agreement The global agency agreement between Xxxxxxx Mac and the Global Agent, dated as of the Closing Date.

  • Security means any note, stock, treasury stock, security future, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a “security”, or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guaranty of, or warrant or right to subscribe to or purchase any of the foregoing.

  • Related Bond means, in respect of an Inflation Index, the bond specified as such in the applicable Final Terms. If the Related Bond specified in the applicable Final Terms is "Fallback Bond", then, for any Related Bond determination, the Calculation Agent shall use the Fallback Bond. If no bond is specified in the applicable Final Terms as the Related Bond and "Fallback Bond: Not Applicable" is specified in the applicable Final Terms, there will be no Related Bond. If a bond is specified as the Related Bond in the applicable Final Terms and that bond redeems or matures before the End Date (i) unless "Fallback Bond: Not Applicable" is specified in the applicable Final Terms, the Calculation Agent shall use the Fallback Bond for any Related Bond determination and (ii) if "Fallback Bond: Not Applicable" is specified in the applicable Final Terms, there will be no Related Bond.