Collateral Deficiency definition

Collateral Deficiency means, as of any date of determination, the Dollar amount of the excess, if any, of the aggregate outstanding principal amount of the Loans as of such date over the Borrowing Base calculated as of such date.

Collateral Deficiency means, at any time, the amount by which the Principal Debt exceeds the lesser of (a) the Collateral Value of all Eligible Mortgage Collateral and (b) if the Collateral Agent holds no Eligible Mortgage Collateral, zero.

Collateral Deficiency. “Eligible Lease”, “Eligible Railcar”, “Excluded Assets Amount”, “Liquidity Reserve Target Amount” or any term that is a component of any such definition; or

Examples of Collateral Deficiency in a sentence

• The Special Servicer shall notify the Master Servicer and the Certificate Administrator of any Collateral Deficiency Amount calculated by the Special Servicer with respect to an Outside Serviced Mortgage Loan that has become an AB Modified Loan.

• As of the first Determination Date following a Serviced Trust Loan becoming an AB Modified Loan, the Special Servicer shall calculate whether a Collateral Deficiency Amount exists with respect to such AB Modified Loan, taking into account the most recent Appraisal obtained (or, if applicable, internal valuation performed) by the Special Servicer with respect to such Serviced Trust Loan, and all other information relevant to a Collateral Deficiency Amount determination.

• None of the Trustee, the Certificate Administrator or the Master Servicer shall calculate or verify any Collateral Deficiency Amount.

• The Master Servicer and the Certificate Administrator shall be entitled to conclusively rely on any Collateral Deficiency Amounts calculated by the Special Servicer with respect to an Outside Serviced Mortgage Loan.

• The Holders of the majority (by Certificate Balance) of an Appraised-Out Class shall have the right, at their sole expense, to require the Special Servicer to order a second Appraisal of the Mortgaged Property securing any Serviced Loan (or, in the case of a Class of Loan-Specific Control Eligible Class that is an Appraised-Out Class, the related Serviced Whole Loan) as to which there exists an Appraisal Reduction Amount or a Collateral Deficiency Amount (such Holders, the “Requesting Holders”).

More Definitions of Collateral Deficiency

Collateral Deficiency means at any time that the fair market value of the Collateral held in the Securities Account, as determined by the Securities Intermediary or the Transfer Agent or another service provider, shall be less than the Required Collateral Amount.

Collateral Deficiency means with respect to a Mortgage Loan, when the Final Certification provided by the Custodian identifies that a document has a deficiency or defect or is missing from the related Collateral File.

Collateral Deficiency shall have the meaning set forth in Section 3.5 hereof.

Collateral Deficiency means as of any Valuation Date, the positive excess, if any, of the Aggregate Invested Amount of the Notes as of such date of determination over the aggregate market value, as determined by the Administrative Agent in its sole reasonable discretion, of the Pledged Residual Interest Certificates issued pursuant to the Eligible Committed Securitizations as of such date of determination.

Collateral Deficiency has the meaning set forth in Section 2.03.

Collateral Deficiency means, as of any date of determination thereof, the amount, if any, by which (a) the Total Outstanding Amount on such date exceeds (b) the Available Collateral Amount on such date.

Collateral Deficiency means the Outstanding Amount of Term Loan Principal Debt is more than the sum of (i) 50% of Pledged Collateral Market Value plus (ii) Pledged Oil and Gas Property Value.”