Insurance and Condemnation Proceeds definition

Insurance and Condemnation Proceeds shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

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Insurance and Condemnation Proceeds. All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation of a Mortgaged Property, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged Property or released to the Mortgagor or any tenants or ground lessors, in either case, in accordance with the Servicing Standard (and in the case of any Mortgage Loan with a related Companion Loan, to the extent any portion of such proceeds are received by the Master Servicer or Certificate Administrator in connection with such Mortgage Loan, pursuant to the allocations set forth in the related Intercreditor Agreement) and the REMIC Provisions.

Examples of Insurance and Condemnation Proceeds in a sentence

To the extent that such amounts are paid by a party other than a Mortgagor, such amounts shall be deemed to have been paid in respect of a purchase of all or part of the Mortgaged Property (in the case of Insurance and Condemnation Proceeds or Liquidation Proceeds) and then paid by the Mortgagor under the Mortgage Loan or Companion Loan(s), as applicable, in accordance with Section 3.02(b)(ii) above.
The Master Servicer shall be entitled to recover unpaid Servicing Fees in respect of any Mortgage Loan, Companion Loan or REO Loan out of that portion of related payments, Insurance and Condemnation Proceeds, Liquidation Proceeds and REO Revenues (in the case of an REO Loan) allocable as recoveries of interest, to the extent permitted by Section 3.05(a).
The Special Servicer shall deposit, or cause to be deposited, in the REO Account, within two (2) Business Days after receipt of properly identified and available funds, all REO Revenues, Insurance and Condemnation Proceeds and Liquidation Proceeds received in respect of an REO Property.

More Definitions of Insurance and Condemnation Proceeds

Insurance and Condemnation Proceeds. (i) prior to the Securitization Date, shall have the meaning assigned to such term in the Model PSA and (ii) following the Securitization Date, shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or any one or more analogous terms in the Lead Securitization Servicing Agreement.

Insurance and Condemnation Proceeds has the meaning assigned thereto in Section 4.4(b)(iv).

Insurance and Condemnation Proceeds shall have the collective meanings assigned to the terms “Insurance Proceeds” and “Condemnation Proceeds” (or any analogous terms) in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

Insurance and Condemnation Proceeds. All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation of a Mortgaged Property, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged Property or released to the Mortgagor or any tenants or ground lessors, in either case, in accordance with the Servicing Standards (and in the case of any AB Mortgage Loan, to the extent any portion of such proceeds are received by the Paying Agent in connection with such AB Mortgage Loan, pursuant to the allocations set forth in the related Intercreditor Agreement).

Insurance and Condemnation Proceeds. All proceeds paid under any Insurance Policy or in connection with the full or partial condemnation of a Mortgaged Property, in either case, to the extent such proceeds are not applied to the restoration of the related Mortgaged Property or released to the Mortgagor or any tenants or ground lessors, in either case, in accordance with the Servicing Standards (and in the case of any Serviced Mortgage Loan or the Non-Serviced Mortgage Loans, to the extent any portion of such proceeds are received by the Trustee in connection with such Serviced Mortgage Loan or the Non-Serviced Mortgage Loans, as applicable, pursuant to the allocations set forth in the related Intercreditor Agreement).

Insurance and Condemnation Proceeds has the meaning assigned thereto in Section 2.6(b)(iii).

Insurance and Condemnation Proceeds shall have the meaning assigned to such term or any one or more analogous terms in the Lead Securitization Servicing Agreement.