Core Purchased Asset. Each Legacy Purchased Asset designated as a Core Purchased Asset on Schedule 3 of the Fee Letter.
Core Purchased Asset. Defined in the Fee Letter, which definition is incorporated herein by reference.
Core Purchased Asset. Defined in the Fee Letter, which definition is incorporated herein by reference. “Current Xxxx-to-Market Value”: For any Purchased Asset as of any date, the market value for such Purchased Asset as of such date as determined by Buyer in its sole discretion. “Custodial Agreement”: The Amended and Restated Custodial Agreement, dated as of the date hereof, among Buyer, Seller and Custodian, as the same may be further amended, modified, waived, supplemented, extended, replaced or restated from time to time. “Custodian”: Xxxxx Fargo Bank, National Association, or any successor permitted by the Custodial Agreement. “Debt Yield”: With respect to any Purchased Asset, as of any date of determination, the percentage equivalent of the quotient obtained by dividing (i) the underwritten annual net cash flow as of such date with respect to the Mortgaged Properties securing such Purchased Asset, as determined by Buyer in its discretion, by (ii) the Purchase Price of such Purchased Asset as of such date. “Default”: Any event that, with the giving of notice or the lapse of time, or both, would become an Event of Default. “Default Rate”: Defined in the Fee Letter, which definition is incorporated herein by reference. “Defaulted Asset”: Any Purchased Asset (or, if the Purchased Asset is a Senior Interest or Mezzanine Loan, the related Whole Loan), (a) that is thirty (30) or more days (or, in the case of payments due at maturity, one (1) day) delinquent in the payment of principal, interest, fees, distributions or any other amounts payable under the related Purchased Asset Documents, in each case, without regard to any waivers or modifications of, or amendments to, the related Purchased Asset Documents, other than those that were disclosed in writing to Buyer prior to the Purchase Date of the related Purchased Asset, unless consented to by Buyer in accordance with the terms of this Agreement, (b) for which there is a material non-monetary event of default under the related Purchased Asset Documents beyond any applicable notice or cure period in each case, without regard to any waivers or modifications of, or amendments to, the related Purchased Asset Documents other than those that were disclosed in writing to Buyer prior to the Purchase Date of the related Purchased Asset, (c) as to which an Insolvency Event has occurred with respect to the Underlying Obligor, (d) as to which a Material Modification is made without the prior written consent of Buyer or (e) for which Seller o...