Componentized Mortgage Loan definition
Examples of Componentized Mortgage Loan in a sentence
If a Loan-Specific Control Appraisal Period exists, or if 50% or more of the outstanding Certificate Balance of the related Loan-Specific Certificates is held by the related borrower or an affiliate of the related borrower, the Directing Certificateholder will (prior to the occurrence and continuance of a Control Event) be entitled to appoint a replacement Special Servicer of the related Componentized Mortgage Loan.
Unless a Loan-Specific Control Appraisal Period exists with respect to a Componentized Mortgage Loan, the consent, disapproval rights, and consultation rights of the Directing Certificateholder with respect to any Asset Status Reports applicable to the other Mortgage Loans described above and below will be exercisable by the related Loan-Specific Certificate Representative on behalf of the Holders of the related Class of Loan-Specific Certificates with respect to such Componentized Mortgage Loan.
For so long as no Loan-Specific Control Appraisal Period exists with respect to a Componentized Mortgage Loan, the applicable Loan-Specific Certificate Representative shall have control, consent, disapproval and consultation rights with respect to such Componentized Mortgage Loan in accordance with the terms of this Agreement, including, without limitation, Section 3.35(c).
In addition, all amounts of Mortgage Deferred Interest on a Componentized Mortgage Loan allocated to the respective Pooled Component and Non-Pooled Component will reduce the amount of interest entitlement distributable pursuant to the allocations described above.
Environmental sanitation options that could be brought under these activities are as follows – o Solid Waste Management (SWM),o Drainage & Footpath,8.2 WAB Concerns regarding Rehabilitation / Up-gradation of Environmental Sanitation Facilities It is worthwhile to mention that this type of work will be done at very limited scale and especially in URBAN intervention areas.
With respect to any Mortgage Loan other than a Componentized Mortgage Loan, prior to the occurrence of a Consultation Termination Event, the Special Servicer shall consult with the Directing Certificateholder with respect to any Appraisal, valuation or downward adjustment in connection with an Appraisal Reduction.
In addition, with respect to a Componentized Mortgage Loan, when such Componentized Mortgage Loan is not subject to a Loan-Specific Control Appraisal Period, the Special Servicer will also deliver to the Senior Trust Advisor each Asset Status Report approved by the related Loan-Specific Certificate Representative.
The net proceedsof the Initial Public Offering and certain proceeds from the sale of the Private Placement Warrants are held in the Trust Account and invested as described elsewhere in this Annual Report on Form 10-K.
With respect to a Componentized Mortgage Loan, prior to the occurrence and continuance of a Loan-Specific Control Appraisal Period with respect thereto, references to the Directing Certificateholder in this paragraph should be read as references to the Loan Specific Certificate Representative with respect to the related Class of Loan-Specific Certificates, but without giving effect to references to a Control Event.
Notwithstanding the foregoing, the Senior Trust Advisor will not be permitted to recommend the replacement of the Special Servicer with respect to a Componentized Mortgage Loan for which no Loan-Specific Control Appraisal Period exists.