CRE Finance Assets means (i) any commercial real estate loans and/or direct or indirect interests therein (including, without limitation, commercial mortgage backed securities, collateralized loan obligations, mezzanine interests, senior and junior notes and participation interests with respect to any of the foregoing), (ii) any rights, assets or investments similar to or derivative of, any item referred to in the foregoing clause (i) and/or the origination, acquisition, financing, servicing or administration thereof (regardless of whether or not the Borrower or any of its Restricted Subsidiaries owns or originated the applicable commercial real estate loan or direct or indirect interest therein) and (iii) Capital Stock in any Person substantially all of whose assets, directly or indirectly, are comprised of one or more of the items referred to in the foregoing clauses (i) and/or (ii). For the avoidance of doubt, no Real Estate Investment shall constitute a CRE Finance Asset.
CRE Finance Assets means (i) any commercial real estate loans and/or direct or indirect interests therein (including, without limitation, commercial mortgage backed securities, interests in collateralized loan obligations, mezzanine interests, senior and junior notes and participation interests with respect to any of the foregoing),
CRE Finance Assets means (i) any commercial real estate loans and/or direct or indirect interests therein (including, without limitation, commercial mortgage backed securities, interests in collateralized loan obligations, mezzanine interests, senior and junior notes and participation interests with respect to any of the foregoing), (ii) any rights, assets or investments similar to or derivative of, any item referred to in the foregoing clause (i) or in clause (iii) below and/or the origination, acquisition, financing, servicing, operation (in the case of any item referred to in clause (iii) below) or administration thereof (regardless of whether or not Holdings or any of its Subsidiaries owns or originated the applicable commercial real estate loan or direct or indirect interest therein) (including, without limitation, in the case of any item referred to in clause (iii) below, in management, franchise and/or other operational rights), (iii) any Real Estate Assets acquired in connection with a foreclosure or other exercise of remedies under, or a workout or restructuring of, all or any portion of the obligations under any Asset Financing Facility, and/or direct or indirect interests in any such Real Estate Asset (including, without limitation, preferred equity and/or syndicated equity interests) and (iv) Capital Stock in any Person substantially all of whose assets, directly or indirectly, are comprised of one or more of the items referred to in the foregoing clauses (i), (ii) and/or (iii).