Companion Interest definition

Companion Interest means, with respect to any Purchased Asset, any subordinate or pari passu Mortgage Note or Participation Interest secured directly or indirectly by the same Mortgaged Property.

Companion Interest means, with respect to any Purchased Asset that is a Participation Interest or a Senior Note, any subordinate or pari passu Promissory Note or Participation Interest secured directly or indirectly by the same Mortgaged Property.

Companion Interest means, with respect to any Eligible Participation Interest, any other participation interest in the same Whole Loan or A-Note as such Eligible Participation Interest.

Examples of Companion Interest in a sentence

• Neither the holder of the Participation Interest nor the Record Holder owes any fiduciary duty or obligation to any Companion Interest Holder pursuant to the applicable participation agreement.

• The terms of the related participation agreement do not require or obligate the Record Holder or its successor or assigns to repurchase any Companion Interest under any circumstances.

• All amounts due and owing to any Companion Interest Holder pursuant to the related participation agreement or related documents have been duly and timely paid.

• The terms of the related participation agreement do not require or obligate the holder of the Participation Interest or the Record Holder or their respective successors or assigns to repurchase any Companion Interest under any circumstances.

• Except with respect to the Companion Interest of any Whole Loan or any Mortgage Loan that is cross-collateralized and cross-defaulted with another Mortgage Loan, to the Seller’s actual knowledge, the related Mortgage Note is not secured by any collateral that secures a loan that is not a Mortgage Loan, except for loans permitted pursuant to paragraph (21)(b)(ii).

More Definitions of Companion Interest

Companion Interest means, as applicable, a Companion Pari Passu A-Note, Companion Pari Passu Participation Interest or a Companion Participation Interest.

Companion Interest means, with respect to any pari passu participation interest or pari passu A-Note in a performing Senior Mortgage Loan, the other pari passu participation interest(s) or pari passu A-Note(s) in such Senior Mortgage Loan.

Companion Interest. The [_____] Companion Interest, the [_____] Companion Interest, the [_____] Companion Interests, the [_____] Companion Interests and the [_____] Companion Interests.

Companion Interest. With respect to any pari passu participation interest or pari passu “A note” in an “A/B structure” in a performing commercial real estate loan, the other pari passu participation interest or pari passu “A note” in such performing commercial real estate loan.

Companion Interest means, with respect to any Mortgage Loan, any B note or other subordinate obligation of the Mortgagor under such Mortgage Loan secured by the same Mortgage as such Mortgage Loan.

Companion Interest means, with respect to any Purchased Asset that is a Participation Interest or a Senior Note, any subordinate or pari passu

Companion Interest means, with respect to any Purchased Asset, any subordinate or pari passu Mortgage Note or Participation Interest secured directly or indirectly by the same Mortgaged Property. “Floating Rate Loan” shall mean any Mortgage Loan for which interest accrues at a variable rate of interest. “Ground Lease” shall mean a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner and does not include industrial development agency (XXX) or similar leases for purposes of conferring a tax abatement or other benefit. “Moody’s” shall mean Xxxxx’x Investors Service, Inc. and any successor thereto. “REMIC Provisions” shall mean the provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at Sections 860A through 860G of Subchapter M of Chapter 1 of the Code, and related provisions, and proposed, temporary and final Treasury regulations and any published rulings, notices and announcements promulgated thereunder, as the foregoing may be in effect from time to time. “S&P” shall mean Standard & Poor’s Ratings Service, a division of the McGraw Hill Companies, Inc., and any successor thereto.