Defaulted Loan definition

Defaulted Loan shall have the meaning assigned to such term or an analogous term in the Lead Securitization Servicing Agreement

Defaulted Loan means “Specially Serviced Mortgage Loan” as defined in the Lead Securitization Servicing Agreement.

Defaulted Loan. A Serviced Loan (i) that is delinquent at least sixty days in respect of its Monthly Payments or delinquent in respect of its Balloon Payment, if any, in either case such delinquency to be determined without giving effect to any grace period permitted by the related Mortgage or Note and without regard to any acceleration of payments under the related Mortgage and Note or (ii) as to which the Master Servicer or Special Servicer has, by written notice to the related Mortgagor, accelerated the maturity of the indebtedness evidenced by the related Note.

Examples of Defaulted Loan in a sentence

• The Servicer may, in its discretion and consistent with the Servicing Standard, foreclose upon or repossess, as applicable, or otherwise comparably convert the ownership of any Related Collateral relating to a Defaulted Loan as to which no satisfactory arrangements can be made for collection of delinquent payments.

• Notwithstanding the foregoing, the Borrower shall be permitted to sell any Defaulted Loan, Margin Stock or Equity Security to Persons other than Affiliates of the Transferor pursuant to Section 2.07(a) at any time; provided that, during the continuance of an Event of Default, the prior written consent of the Administrative Agent shall be required for any such sale.

• The Servicer will remit, or cause to be remitted, to the Collection Account the Recoveries received in connection with the sale or disposition of Related Collateral relating to a Defaulted Loan.

More Definitions of Defaulted Loan

Defaulted Loan as defined in Section 2.21.

Defaulted Loan as defined in Section 2.22.

Defaulted Loan means any Collateral Loan as to which:

Defaulted Loan. As of any Determination Date, any Loan for which any payment of principal of or interest on such Loan is more than 89 days past due, determined without giving effect to any grace period permitted by the related Mortgage or Mortgage Note or any other document in the Mortgage File.

Defaulted Loan shall have the meaning assigned to such term in Section 2.16(c).

Defaulted Loan means any Loan that a Defaulting Lender has failed to make.

Defaulted Loan shall have the meaning assigned to such term or an analogous term in the Servicing Agreement.