Defeasance Loan definition

Defeasance Loan. Those Mortgage Loans which provide the related Mortgagor with the option to defease the related Mortgaged Property.
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Defeasance Loan means any Mortgage Loan, Serviced Companion Mortgage Loan or B Note which requires or permits the related Mortgagor (or permits the holder of such Mortgage Loan, Serviced Companion Mortgage Loan or B Note to require the related Mortgagor) to pledge Defeasance Collateral to such holder in lieu of prepayment.
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Defeasance Loan means any Mortgage Loan (other than any Non-Serviced Mortgage Loan), Serviced Companion Loan or B Note which requires or permits the related Mortgagor (or permits the holder of such Mortgage Loan, Serviced Companion Loan or B Note to require the related Mortgagor) to pledge Defeasance Collateral to such holder in lieu of prepayment.
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Examples of Defeasance Loan in a sentence

  • In addition, each Mortgage loan that is a Defeasance Loan permits defeasance only with substitute collateral constituting "government securities" within the meaning of Treas.

  • In addition, each Mortgage Loan that is a Defeasance Loan permits defeasance only with substitute collateral constituting "government securities" within the meaning of Treas.

  • To the extent permitted by law or the applicable Defeasance Loan, prior to the purchase of Defeasance Collateral, funds in the Defeasance Deposit Account may be invested only in Permitted Investments in accordance with the provisions of Section 3.06.

  • Borrower, pursuant to the Defeasance Loan Agreement, shall authorize and direct that the payments received from Defeasance Collateral be made directly to CSFC and applied to satisfy the Obligations.

  • The Borrower and such successor entity shall execute an assignment and assumption agreement in form and substance satisfactory to CSFC in its sole discretion pursuant to which the successor entity shall assume the Obligations in their entirety (including, without limitation, under the Defeasance Loan Agreement).


More Definitions of Defeasance Loan

Defeasance Loan. Those Trust Loans that provide the related Mortgagor with the option to defease the related Mortgaged Property.
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Defeasance Loan. Any Mortgage Loan identified as a Defeasance Loan on the Mortgage Loan Schedule which permits or requires the related Mortgagor (or permits the holder of such Mortgage Loan to require the related Mortgagor) to pledge Defeasance Collateral to such holder in lieu of prepayment.
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Defeasance Loan. Any Mortgage Loan which permits or requires the related Mortgagor (or permits the holder of such Mortgage Loan to require the related Mortgagor) to pledge Defeasance Collateral to such holder in lieu of prepayment.
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Defeasance Loan. A Mortgage Loan that is designated as such on the Mortgage Loan Schedule.
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Defeasance Loan. Any Mortgage Loan which requires the related Mortgagor (or permits the holder of such Mortgage Loan to require the related Mortgagor) to pledge Defeasance Collateral to such holder in lieu of prepayment.
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Defeasance Loan. Any Mortgage Loan which grants the holder or the Mortgagor a Defeasance Option.
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Defeasance Loan. Any Trust Mortgage Loan identified as a Defeasance Loan on the Mortgage Loan Schedule which permits or requires the related Mortgagor (or permits the holder of such Trust Mortgage Loan to require the related Mortgagor) to pledge Defeasance Collateral to such holder in lieu of prepayment. If an LC Trust Mortgage Loan is a Defeasance Loan, then any related Non-Trust Mortgage Loan may also be a Defeasance Loan.
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