Excluded Loan definition

Excluded Loan shall have the meaning specified in Section 8.07(iii) of the Indenture.

Excluded Loan. With respect to (a) the Directing Certificateholder or the Holder of the majority of the Controlling Class, any Mortgage Loan or Whole Loan if, as of any date of determination, the Directing Certificateholder or the Holder of the majority of the Controlling Class is a Borrower Party, or (b) the Risk Retention Consultation Party or the Holder of the majority of the RR Interest, any Mortgage Loan or Whole Loan if, as of any date of determination, the Risk Retention Consultation Party or the Holder of the majority of the RR Interest is a Borrower Party. For the avoidance of doubt, any Excluded Loan as to either the Directing Certificateholder or the Holder of the majority of the Controlling Class is also an Excluded Controlling Class Loan. As of the Closing Date, there are no Excluded Loans related to the Trust.

Excluded Loan. With respect to the Directing Holder or the Holder of the majority of the Controlling Class, any Mortgage Loan or Whole Loan if, as of any date of determination, the Controlling Class Representative or the Holder of the majority of the Controlling Class (by Certificate Balance) is a Borrower Party. For the avoidance of doubt, any Excluded Loan is also an Excluded Controlling Class Loan. As of the Closing Date, there are no Excluded Loans related to the Trust.

Examples of Excluded Loan in a sentence

• In addition, in the case of an Excluded Loan that is de-designated as such on any Loan Action Date, the Depositor represents and warrants to the Issuer and the Servicer as of such Payment Date that such Loan would constitute an Eligible Loan as of the end of the related Collection Period if the last day of such Collection Period were deemed to be such Loan’s Cut-Off Date.

• On any Loan Action Date during the Revolving Period, an Excluded Loan may be de-designated as such by the delivery by the Depositor (or the Servicer on its behalf) to the Issuer and the Indenture Trustee on or before the Monthly Determination Date relating to such Loan Action Date of a report identifying each such expected Loan (by loan number and Seller and Subservicer) as ceasing to be designated as an Excluded Loan.

• No Excluded Loan may be de-designated as such on any Loan Action Date unless such Loan would constitute an Eligible Loan as of the close of business on the last day of the Collection Period immediately preceding such Loan Action Date if such last day were deemed to be such Loan’s Cut-Off Date.

• The designation of a Loan or 2024-2A SUBI Loan as an Excluded Loan shall be effected by the delivery by the Depositor (or the Servicer on its behalf) to the Issuer and the Indenture Trustee on or before the Monthly Determination Date relating to applicable Loan Action Date of a report identifying each such expected Loan (by loan number and Seller and Subservicer) as an Excluded Loan.

• Such Loan Schedule shall also separately identify each Loan that will be designated as an Excluded Loan for the related Loan Action Date (after giving effect to all Loan Actions that will occur on such Loan Action Date).

More Definitions of Excluded Loan

Excluded Loan has the meaning set forth in Section 2.12(G) hereof.

Excluded Loan. A Loan listed on Schedule IX (i) that was originated, acquired or extended by the Originator, CapitalSource Inc. or any of their respective Subsidiaries prior to May 1, 2007, (ii) under which the Originator, CapitalSource Inc. or any of their respective Subsidiaries is acting as administrative (or other analogous) agent and a lender thereunder, or (iii) for which the documentation governing such Loan has been amended and restated based upon the form documentation utilized by the Originator and CapitalSource Inc. The Seller and the Servicer shall update Schedule IX, when necessary, on each Funding Date.

Excluded Loan means any Loan (a) sold or pledged pursuant to a Purchase Agreement,

Excluded Loan has the meaning set forth in Section 2.11(g) hereof.

Excluded Loan. A Mortgage Loan or Loan Combination with respect to which, as of any date of determination, the Majority Subordinate Certificateholder and/or the Subordinate Class Representative is a Borrower Party.

Excluded Loan means the Hilex Poly Co loan described on the loan list attached to the Master Transfer Agreement, with an outstanding principal balance of $34,331,526.

Excluded Loan. Any Mortgage Loan (if any) as to which at any time (but only for so long as) both (a) the Controlling Class Representative or a Controlling Class Certificateholder (or any Beneficial Owner of a Certificate of the Controlling Class) or any of their Affiliates is the direct or indirect holder of an equity interest in the related Mortgagor and (b) the Master Servicer, the Special Servicer and the Certificate Administrator have received written notice that such Mortgage Loan is an Excluded Loan (including by virtue of physical receipt of an Investor Certification in the form of Exhibit M-1B).