Examples of Commercial Mortgage Loan Agreement in a sentence
The monies standing to the credit of the Mortgage Reserve Accounts may also be applied toward payment of the relevant Borrowers’ obligations under the Commercial Mortgage Loan Agreement.
For further details concerning Loan Events of Default or Potential Loan Events of Default, see further the section entitled ‘‘Summary of Principal Documents – The Commercial Mortgage Loan Agreements’’ below.Each Commercial Mortgage Loan Agreement with a Borrower will require the relevant Borrower (or the Borrower’s Agent) to inform the relevant FCC Servicer and the Management Company of the occurrence of any Loan Event of Default and Potential Loan Event of Default promptly upon becoming aware of the same.
Failure by any such party to perform its obligations could have an adverse effect on a Borrower’s ability to meet its obligations under the relevant Commercial Mortgage Loan Agreement and, ultimately, the Issuer’s ability to make payments on the Notes.
Each Constituent Authority, non-constituent authority and LEP will also appoint two other people (“Substitute Members”) to act as members of the Combined Authority in the absence of the named member.