Defeasance Notice definition

Defeasance Notice is defined in Section 11.12(b).
Defeasance Notice is defined in Section 44(b).
Defeasance Notice is defined in Section 4.04(c) of the Project Loan Agreement.

Examples of Defeasance Notice in a sentence

  • If Lender does not receive the Defeasance Fee, then Borrower’s right to obtain Defeasance pursuant to that Defeasance Notice will terminate.

  • The Defeasance Closing Date specified by Borrower may not be more than 60 calendar days, nor less than 30 calendar days, after the date on which Lender receives the Defeasance Notice.

  • Lender will acknowledge receipt of the Defeasance Notice and will notify Borrower of the identity of the accommodation borrower (“Successor Borrower”).

  • The Defeasance Closing Date specified by Borrower may not be more than 60 calendar days, nor less than 30 calendar days, after the date on which the Defeasance Notice is received by Lender.

  • Lender will acknowledge receipt of the Defeasance Notice and will state in such receipt whether Lender will designate the Successor Borrower or will permit Borrower to designate the Successor Borrower.


More Definitions of Defeasance Notice

Defeasance Notice. As defined in Section 10(d).
Defeasance Notice is defined in Section 2.3(b)(v).
Defeasance Notice means a notice executed and delivered by an Authorized Officer of the Servicer (i) certifying with respect to any Land Lease Asset that
Defeasance Notice is defined in Section 11.12(b). Multifamily Loan and Security Agreement Page 95 (Park at Kensington)
Defeasance Notice in the manner specified in Section 3.10(g)(4), on a form provided by Lender, specifying a Business Day (the “Defeasance Closing Date”) which Borrower desires to consummate the Defeasance. The Defeasance Closing Date specified by Borrower may not be more than 45 calendar days, nor less than 30 calendar days, after the date on which the Defeasance Notice is received by Lender. Borrower shall also specify in the Defeasance Notice the name, address and telephone number of Borrower for notices pursuant to Section 3.10(g)(4). The form Defeasance Notice provided by Lender specifies: (i) which Mortgaged Properties Borrower proposes to be released, (ii) the name, address and telephone number of Lender for notices pursuant to Section 3.10(g)(4); (iii) the account(s) to which payments to Lender are to be made; (iv) whether a Fxxxxx Mae Investment Security will be offered for use as the Substitute Collateral and, if not, that U.S. Treasury Securities will be the Substitute Collateral; (v) whether the Successor Borrower will be designated by Lender or Borrower; and (vi) if a Fxxxxx Mxx Investment Security is offered for use as the Substitute Collateral, the Defeasance Notice shall also include the amount of the Defeasance Commitment Fee. Any applicable Defeasance Commitment fee must be paid by Borrower and received by Lender no later than the date and time when Lender receives the Defeasance Notice from Borrower.
Defeasance Notice means a notice executed and delivered by an Authorized Officer of the Servicer (i) certifying with respect to any Land Lease Asset that (A) the Depositor is obligated to repurchase the related Membership Interest pursuant to the Sale Agreement and has elected to satisfy such repurchase obligation by defeasing such Membership Interest, (B) the related Lessee has notified the related Land Lease Entity in writing that such Lessee desires to prepay the remaining Scheduled Lease Payments with respect to such Land Lease Asset and terminate the related Land Lease Asset Documents, or (C) the related Lessee has defaulted (or the Servicer has determined in its good faith business judgment that such Lessee will default) in the payment of one or more Scheduled Lease Payments with respect to such Land Lease Asset, (ii) specifying the Defeasance Date, and (iii) directing the Issuer to defease the related Membership Interest (or the related equity interest in any new special purpose company formed pursuant to Section 8.06) and transfer the related Membership Interest (or such equity interest) to the Depositor pursuant to Section 8.06 on the Defeasance Date specified in such notice.
Defeasance Notice has the meaning ascribed to such term in Section 17.6.