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Defeasance Event definition

Defeasance Event shall have the meaning set forth in Section 2.5.1(a) hereof.
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Defeasance Event shall have the meaning set forth in SECTION 2.5.1(A).
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Defeasance Event means a Total Defeasance Event or a Partial Defeasance Event, as applicable.
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Examples of Defeasance Event in a sentence

  • In connection with a Defeasance Event under this Section 2.5, Borrower shall, if required by the Rating Agencies or if Borrower elects to do so, establish or designate a successor entity (the “Successor Borrower”) which shall be a single purpose bankruptcy remote entity and which shall be approved by the Rating Agencies.

  • In connection with a Defeasance Event under this Section 2.5, Borrower shall, if required by the Rating Agencies or if Borrower elects to do so, establish or designate a successor entity (the "SUCCESSOR BORROWER") which shall be a single purpose bankruptcy remote entity and which shall be approved by the Rating Agencies.

  • A Defeased Note cannot be the subject of any further Defeasance Event.

  • In connection with any Defeasance Event, Borrower shall establish a successor entity (the “Successor Borrower”), which shall be a Special Purpose Entity, which shall not own any other assets or have any other liabilities or operate other property (except in connection with other defeased loans held in the same securitized loan pool with the Loan).

  • In connection with a Defeasance Event under this Section 2.3.3, Borrower shall, if required by the Rating Agencies or if Borrower elects to do so, establish or designate a successor entity (the “Successor Borrower”) which shall be a Special Purpose Bankruptcy Remote Entity and which shall be approved by the Rating Agencies.


More Definitions of Defeasance Event

Defeasance Event means the Total Defeasance Event or the Partial Defeasance Event, as the context may require.
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Defeasance Event has the meaning assigned in Section 2.4(b).
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Defeasance Event shall the Total Defeasance Event or the Partial Defeasance Event as the context may require.
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Defeasance Event. As defined in the Mortgage Loan Agreement
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Defeasance Event shall have the meaning set forth in Section 2.4 hereof.
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Defeasance Event has the meaning set forth in Section 10(a) of the Note.
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Defeasance Event has the meaning ascribed to it in SECTION 2.5(a). "DEFEASANCE PERIOD" has the meaning ascribed to it in SECTION 2.5(a) hereof. "DEFEASANCE SECURITY AGREEMENT" has the meaning ascribed to it in SECTION 2.5(a)(vi) hereof.
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