Delinquent Mortgage Loan definition

Delinquent Mortgage Loan means any Mortgage Loan as to which any Monthly Payment, or part thereof, remains unpaid for 30 days or more following the original Due Date for such Monthly Payment.

Delinquent Mortgage Loan. The meaning ascribed thereto in Section 11.02.

Delinquent Mortgage Loan. As defined in Subsection 14.01(b).

Examples of Delinquent Mortgage Loan in a sentence

• Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any late payment charge or, subject to Section 3.21, any Prepayment Charge in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Delinquent Mortgage Loan for a period not greater than 125 days.

• Following the designation of a Delinquent Mortgage Loan as a Specially Serviced Loan, the Company shall transfer servicing of such Delinquent Mortgage Loan to the Special Servicer substantially in the manner set forth herein and in Schedule II hereto.

• Notwithstanding and in addition to the foregoing, in the event that (i) a Mortgage Loan becomes delinquent for a period of 90 days or more (a "Delinquent Mortgage Loan") or (ii) a Mortgage Loan becomes an REO Property, the Owner may at its election terminate this Agreement (a) with respect to such Delinquent Mortgage Loan or (b) REO Property, in each case, upon 15 days' written notice to the Servicer.

• Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any late payment charge or, subject to Section 3.21, any prepayment charge or penalty interest in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Delinquent Mortgage Loan for a period not greater than 125 days.

• Consistent with the foregoing, the Servicer may in its discretion (i) waive any late payment charge or, subject to Section 3.21, any Prepayment Charge in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Delinquent Mortgage Loan for a period not greater than 125 days.

More Definitions of Delinquent Mortgage Loan

Delinquent Mortgage Loan means any Mortgage Loan which, as of any date of determination, is more than 90 days delinquent in payment of any principal or interest due thereunder.

Delinquent Mortgage Loan. A Mortgage Loan that is delinquent at least sixty days in respect of its Periodic Payments or Balloon Payment, if any, in either case such delinquency to be determined without giving effect to any Grace Period.

Delinquent Mortgage Loan. Any mortgage loan with respect to which the related Mortgagor is greater than thirty (30) calendar days delinquent following the first date of delinquency under the MBA method of delinquency.

Delinquent Mortgage Loan. A Mortgage Loan is delinquent if the Monthly Payment due thereon is not received by the close of business on the day the related Monthly Payment is scheduled to be made, after taking into account any applicable grace period, in accordance with the terms of the related Mortgage Note and until such delinquency is subsequently cured.

Delinquent Mortgage Loan. Each Mortgage Loan with respect to which any portion of a Scheduled Payment is, as of the last day of the prior Due Period, two months or more past due (without giving effect to any grace period), each Mortgage Loan in foreclosure, all REO Property and each Mortgage Loan for which the Mortgagor has filed for bankruptcy (but not including any Liquidated Mortgage Loan (or related REO Property) as of the end of the related Prepayment Period).

Delinquent Mortgage Loan means either a Thirty-Day Delinquent Mortgage Loan or a Sixty-Day Delinquent Mortgage Loan; provided that in no event shall a Mortgage Loan or Underlying Mortgage Loan that is ninety (90) days or more delinquent have a Collateral Value in excess of zero.

Delinquent Mortgage Loan means a Mortgage Asset under which the Obligor is 30 or more days in payment default or the Obligor has taken any action, or suffered any event of the type described in Sections 8.1(f), 8.1(g) or 8.1(h) or is in foreclosure.