Companion Loan(s) definition
Companion Loan(s). As defined in the Preliminary Statement.
Companion Loan(s). With respect to any Mortgage Loan, any other mortgage loan that is not included in the Trust but is secured by the same Mortgage(s) encumbering the same Mortgaged Property or portfolio of Mortgaged Properties as such Mortgage Loan. With respect to each Whole Loan, the Pari Passu Companion Loan(s) and the Subordinate Companion Loan(s) (if any) are evidenced by the promissory notes opposite such Whole Loan, set forth in the chart entitled “Whole Loans” in the Preliminary Statement, as such promissory notes may be further divided.
Companion Loan(s). As defined in the Introductory Statement hereto.
Examples of Companion Loan(s) in a sentence
Any provision in this Agreement for any Advance by the Master Servicer or the Trustee is intended solely to provide liquidity for the benefit of the Certificateholders and not as credit support or otherwise to impose on any such Person the risk of loss with respect to one or more of the Mortgage Loans or any related Serviced Companion Loans.
Furthermore, no amendment to this Agreement may be made that changes any provision specifically required to be included in this Agreement by any Designated Intercreditor Agreement, without in each case the consent of the holder of the related Companion Loan(s).
The cost of any such insurance maintained by the Servicer shall be advanced by the Servicer, as a Property Protection Advance unless it would be a Nonrecoverable Advance, in which case the Servicer will be required to make such payment from the Collection Account, which payment will be a Trust Fund Expense (except to the extent such expense is reimbursed with funds otherwise paid from amounts allocable to the Companion Loans pursuant to the terms of the Co-Lender Agreement).
In connection with its activities as administrator and Master Servicer of the Mortgage Loans or any Serviced Companion Loans, the Master Servicer agrees to prepare and present, on behalf of itself, the Trustee, Certificateholders, claims under any such blanket Insurance Policy in a timely fashion in accordance with the terms of such policy.
Amounts allocable to the Companion Loans under the Co-Lender Agreement shall not otherwise be available to the Trust for purposes of making distributions on the Certificates or for payment of other amounts relating only to the Trust.
More Definitions of Companion Loan(s)
Companion Loan(s). With respect to any Mortgage Loan, any other mortgage loan that is not included in the Trust but is secured by the same Mortgage(s) encumbering the same Mortgaged Property or portfolio of Mortgaged Properties as such Mortgage Loan. With respect to each Whole Loan, the Companion Loan(s) (if any) are identified under the column entitled “Companion Loan(s)” in the “Whole Loan” chart in the Preliminary Statement.
Companion Loan(s). A mortgage loan or leasehold interest which is secured, on a pari passu basis by the same Mortgaged Property that secures a Mortgage Loan included in the Collateral Pool.
Companion Loan(s). The BioMed MIT Portfolio Pari Passu Companion Loans, the Marriott World Headquarters Pari Passu Companion Loans, the 32 Old Slip - Leased Fee Pari Passu Companion Loans, the Honolulu FBI Office Pari Passu Companion Loans, the MIC Parking Portfolio Pari Passu Companion Loan, the Washington Square Pari Passu Companion Loans, the ▇▇▇▇▇▇ Town Center Pari Passu Companion Loans, the Discovery Business Center Pari Passu Companion Loans, the Ansonia Commercial Condominium Pari Passu Companion Loan and any AB Subordinate Companion Loan.
Companion Loan(s). Collectively, the Pari Passu Companion Loans and the Subordinate Companion Loans.
Companion Loan(s). A mortgage loan secured by a Mortgaged Property held, on a pari passu basis with the applicable Issuer, by parties other than such Issuer.
Companion Loan(s). A mortgage loan or leasehold interest which is secured, on a pari passu basis by the same Mortgaged Property that secures a Mortgage Loan included in the Collateral Pool. “Condemnation Proceeds ”: All proceeds received in connection with the condemnation or remediation of, or granting an easement on, any Mortgaged Property other than proceeds applied to the restoration of such Mortgaged Property or released to the related Tenant or Borrower in accordance with the Servicing Standard. “Control Person ”: With respect to any Person, anyone that constitutes a “controlling person” of such Person within the meaning of the Securities Act of 1933, as amended. “Controlling Party ”: As defined in the Indenture. “Corporate Asset Management Agreement ”: A management agreement entered into by Spirit Realty and Spirit MTA in connection with the Spin-Off pursuant to which Spirit Realty or one of its Affiliates (which may include a Taxable REIT Subsidiary) performs services for Spirit MTA which may include, without limitation, investment management and real estate management and servicing. “ Corrected Lease ”: Any Specially Serviced Lease with respect to which, as of any date of determination, one or more of the following as are applicable shall have occurred with respect to each Specially Serviced Lease Trigger Event that previously occurred with respect to such Specially Serviced Lease: (i) with respect to the circumstances described in clause (a) of the definition of the term “Specially Serviced Lease”, the related Tenant has made three consecutive full and timely Monthly Lease Payments under the terms of such Lease (as such terms may be changed or modified in connection with a bankruptcy or similar proceeding involving the related Tenant or by reason of a modification, waiver or amendment granted or agreed to by the Special Servicer) or such Lease has been terminated and the related Mortgaged Property has been re-leased; (ii) with respect to the circumstances described in clause (b) of the definition of the term “Specially Serviced Lease”, such circumstances cease to exist in the good faith and reasonable judgment of the Special Servicer; (iii) with respect to the circumstances described in clause (c) of the definition of the term “Specially Serviced Lease”, the Special Servicer determines that the applicable Tenant likely will be able to make future Monthly Lease Payments; (iv) with respect to the circumstances described in clause (d) of the definition of the term “Sp...
Companion Loan(s). The Trust Notes, the Non-Trust A Notes and the Non-Trust B Note are collectively referred to herein as the “Notes” and, each, as a “Note”. The Trust Loan was sold and assigned by the Loan Seller to the Depositor pursuant to a loan purchase agreement, dated as of the date hereof, by and between the Loan Seller and the Depositor (the “Loan Purchase Agreement”). The Companion Loans will not be assets of the Trust. The Trust Loan and the Companion Loans are subject to the terms and conditions of the Amended and Restated Co-Lender Agreement, dated as of February 11, 2019, between NREC, as holder of the Trust Notes, NREC, as holder of the Senior Companion Notes, and ▇▇▇▇ ▇▇▇▇▇▇▇ Life Insurance Company (U.S.A.), as holder of the Junior Companion Loan (the “Co-Lender Agreement”). As provided for herein, the Certificate Administrator shall elect or shall cause elections to be made to treat designated portions of the Trust Fund for federal income tax purposes as two separate real estate mortgage investment conduits (the “Upper-Tier REMIC” and the “Lower-Tier REMIC” and, each, a “Trust REMIC”). The Class A, Class X-A, Class X-B, Class B, Class C, Class D and Class E Regular Interests will represent “regular interests” in the Upper-Tier REMIC. The Class LA, Class LB, Class LC, Class LD and Class LE Uncertificated Interests will represent “regular interests” in the Lower-Tier REMIC. The Class R Certificates will evidence the sole Class of “residual interests” in each of the Upper-Tier REMIC and Lower-Tier REMIC for purposes of the REMIC Provisions under federal income tax law. The portions of the Trust Fund consisting of the Specific Grantor Trust Assets shall be treated as a grantor trust under subpart E, part I of subchapter J of the Code (the “Grantor Trust”) for federal income tax purposes. Each Class of Certificates (other than the Class R Certificates) shall represent undivided beneficial interests in the portion of the Grantor Trust consisting of the Specific Grantor Trust Assets with the corresponding alphabetic or alphanumeric designation. In exchange for the Trust Loan and the Uncertificated Lower-Tier Interests, the Trust will issue to the Depositor the Class A, Class X-A, Class X-B, Class B, Class C, Class D, Class E and Class R Certificates (collectively, the “Certificates”), which Certificates in the aggregate will evidence the entire beneficial interest in the Trust Fund. The Trust Fund consists principally of the Note, the Mortgage and the Loan Document...