Lease Enhancement Policy definition

Lease Enhancement Policy. With respect to a Credit Lease Loan, any non-cancelable credit lease enhancement insurance policy that insures against certain losses arising out of casualty and/or condemnation of the related Mortgaged Property.
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Lease Enhancement Policy. With respect to Mortgage Loan numbers 72 and 100 on the Mortgage Loan Schedule, any non-cancelable lease enhancement insurance policy that insures against certain losses arising out of casualty and/or condemnation of the related Mortgage Property.
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Lease Enhancement Policy. A non-cancelable credit lease enhancement insurance policy that insures against certain losses arising out of casualty or condemnation of the related Mortgaged Property, the form of which has been approved by the Rating Agencies.
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Examples of Lease Enhancement Policy in a sentence

  • Costs and expenses (other than extraordinary enforcement expenses related to the enforcement of the Lease Enhancement Policy, including related judicial proceedings and "out-of-pocket" costs and expenses of outside legal counsel) incurred by the Master Servicer in connection with this Section 3.28 shall be reimbursable out of the Servicing Compensation only.

  • None of the Depositor, the Master Servicer or the Special Servicer shall be liable for making any payments under the Lease Enhancement Policy.

  • In the event that the Master Servicer receives notice of any termination of a Lease Enhancement Policy or a Residual Value Insurance Policy, the Master Servicer shall, within three Business Days after receipt of such notice, notify the Rating Agencies and the Trustee of such termination in writing.

  • Each of the Master Servicer and the Special Servicer agrees that it will not consent to the transfer of fee simple title to any Mortgaged Property covered by a Lease Enhancement Policy, or beneficial ownership thereof, in a transaction which fails to comply with items (i)-(iii) above.

  • Notwithstanding anything provided in the two preceding sentences, the Master Servicer shall only be obligated to maintain or cause to be maintained with respect to each Mortgaged Property the types and amounts of insurance required pursuant to Section 3.07, and any actions taken by the Master Servicer with respect to the Lease Enhancement Policy shall be consistent with the related Mortgage Loan documents.

  • Any and all amounts collected under a Lease Enhancement Policy shall be immediately deposited in the Certificate Account, subject to withdrawal as provided herein.

  • Any legal fees incurred in connection with a resolution of such termination of a Lease Enhancement Policy or a Residual Value Insurance Policy shall be paid by the Master Servicer and shall be reimbursable to it as a Trust Fund expense (to the extent not required to be paid, and not actually paid, by the related Mortgagor under the applicable Mortgage Loan documents).

  • A student who is allowed to progress their studies carrying a failure(s) in an optional module may be allowed to make good the deficiency in either the same failed module or an approved alternative module of at least the same level and credit value.

  • Within 30 days after the Closing Date, the Master Servicer shall notify the insurer under any Lease Enhancement Policy and/or Residual Value Insurance Policy for any CTL Loan that (i) both the Master Servicer and the Special Servicer shall be sent notices under each such policy and (ii) the Trustee for the benefit of the Certificateholders shall be the loss payee under each such policy.

  • In the event that the Master Servicer has actual knowledge of any event (an "INSURED EVENT") giving rise to a claim under any Lease Enhancement Policy or Residual Value Insurance Policy, the Master Servicer shall prepare and file a "proof of loss" form with the appropriate insurer within five Business Days after receiving notice of any Insured Event under any such policy and shall diligently process any claims under such policy in accordance with the Servicing Standard.


More Definitions of Lease Enhancement Policy

Lease Enhancement Policy. With respect to a Credit Lease Loan, the related insurance policy, if any, covering the exercise by the related credit tenant of certain rights to terminate or abate rent in the event of a casualty or condemnation with respect xx xhe related Mortgaged Property.
Sample 1
Lease Enhancement Policy means any lease enhancement insurance policy issued by National Fire & Marine Insurance Company (or any replacement insurer approved by the Buyer) in favor of the Seller.
Sample 1
Lease Enhancement Policy means an insurance policy that provides, subject to customary exclusions, that in the event of a permitted termination or abatement of a Credit Tenant Lease by the related Credit Tenant as a result of a casualty or condemnation, the insurer under such policy will be required to make a specified insurance payment.
Sample 1
Lease Enhancement Policy means any lease enhancement insurance policy issued in respect of a Commercial Mortgage Loan by an acceptable insuror to or in favor of CLF or Bank.
Sample 1
Lease Enhancement Policy. An insurance policy that provides, subject to customary exclusions, that in the event of a permitted termination or abatement of a Credit Lease by the related Tenant as a result of a casualty or condemnation, the insurer under such policy will be required to make a specified insurance payment.
Sample 1

Related to Lease Enhancement Policy

  • Procurement Policy means ADB’s Procurement Policy - Goods, Works, Nonconsulting and Consulting Services (2017, as amended from time to time);

  • Risk Management Policy means the Risk Management Policy of the Borrower in effect on the date of this Agreement as amended from time to time.

  • Investment Policy means the investment policy from time to time determined by the Commission under the Rules;

  • Special Primary Insurance Policy Any Primary Insurance Policy covering a Mortgage Loan the premium of which is payable by the Trustee pursuant to Section 4.04(a), if so identified in the Mortgage Loan Schedule. There are no Special Primary Insurance Policies with respect to any of the Mortgage Loans.

  • Data Processing Lease means any lease or licensing agreement, binding on the Failed Bank as of Bank Closing, the subject of which is data processing equipment or computer hardware or software used in connection with data processing activities. A lease or licensing agreement for computer software used in connection with data processing activities shall constitute a Data Processing Lease regardless of whether such lease or licensing agreement also covers data processing equipment.

  • Credit Policy means the “New Jersey Infrastructure Bank Credit Policy,” as adopted by the Board of Directors of the I-Bank and as further amended and supplemented from time to time.

  • Procurement Policy Board or “PPB” shall mean the board established pursuant to Charter § 311 whose function is to establish comprehensive and consistent procurement policies and rules which have broad application throughout the City.

  • Investment Policies means the investment objectives, policies, restrictions and limitations set forth in the “BUSINESS” section of its Registration Statement, and as the same may be changed, altered, expanded, amended, modified, terminated or restated from time to time.

  • Group Policy /”policy” means the breakdown policy as set out in this document;

  • Required Insurance Policy With respect to any Mortgage Loan, any insurance policy that is required to be maintained from time to time under this Agreement.

  • R&W Policy means those certain buyer-side representations and warranties insurance policies purchased by Buyer in connection with this Agreement.

  • Business Continuity and Disaster Recovery Plan means the Schedule containing plans and provisions for business continuity and disaster recovery.

  • CREFC® Significant Insurance Event Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Interest Significant Insurance Event Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • risk management plan ’ means a risk management plan submitted to the Ad- ministrator by an owner or operator of a stationary source under subparagraph (B)(iii).

  • Bond Insurance Policy means the municipal bond insurance policy, if any, issued by the Bond Insurer that guarantees payment of principal of and interest on the Bonds and constitutes a Bond Facility under the Indenture.

  • Primary Insurance Policy Each policy of primary mortgage guaranty insurance or any replacement policy therefor with respect to any Mortgage Loan.

  • Support Services Policy means Elastic’s support services policy for a Product, as further described at a URL referenced in an applicable Addendum.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Credit Risk Management Agreement The respective agreements between the Credit Risk Manager and the Servicer and/or Master Servicer regarding the loss mitigation and advisory services to be provided by the Credit Risk Manager.

  • SAP Policies means the operational guidelines and policies applied by SAP to provide and support the Cloud Service as incorporated in an Order Form.

  • Xxxxxx Mae Guide The Xxxxxx Xxx Single Family Seller/Servicer Guide and all amendments or additions thereto.