Examples of MGM Grand & Mandalay Bay Mortgage Loan in a sentence
Amounts (other than Excess Interest) deposited into and withdrawn from the Collection Account in respect of the CREFI MGM Grand & Mandalay Bay Mortgage Loan Portion and the GACC MGM Grand & Mandalay Bay Mortgage Loan Portion shall be deemed to be distributed in respect of the related MGM Grand & Mandalay Bay Trust REMIC Regular Interest and the related MGM Grand & Mandalay Bay REMIC Residual Interest in accordance with the related REMIC Declaration.
Notwithstanding anything to the contrary herein, the Mortgage Loan Seller’s obligation in respect of a Material Defect with respect to the MGM Grand & Mandalay Bay Mortgage Loan shall be solely in respect of the Mortgage Loan Seller’s pro rata share of the MGM Grand & Mandalay Bay Mortgage Loan based on the Mortgage Loan Seller’s percentage interest as of the date hereof in the MGM Grand & Mandalay Bay Mortgage Loan.
With respect to the MGM Grand & Mandalay Bay Mortgage Loan, the obligations of the Mortgage Loan Seller and Barclays Capital Real Estate Inc.
If the Mortgage Note with respect to the MGM Grand & Mandalay Bay Mortgage Loan in favor of the Mortgage Loan Seller and its successors and assigns is repurchased or replaced by the Mortgage Loan Seller pursuant to this Section 5(a), and the other related mortgage note evidencing the MGM Grand & Mandalay Bay Mortgage Loan is not repurchased or replaced by Barclays Capital Real Estate Inc.
For the purpose of comparing the “Whole Loan DSCR” characteristic for the MGM Grand & Mandalay Bay Mortgage Loan, the applicable Mortgage Loan Seller(s), on behalf of the Depositor, instructed us to use the master lease annual base rent of $292,000,000, as shown in the applicable Source Document(s), in place of the “Underwritten Net Cash Flow ($)” characteristic to recalculate the “Whole Loan DSCR” characteristic.
Notwithstanding anything to the contrary herein, the Seller’s obligation in respect of a Material Defect with respect to each of the 000 Xxxx Xxxxxx Mortgage Loan and the MGM Grand & Mandalay Bay Mortgage Loan shall be solely in respect of the Seller’s pro rata share of the 000 Xxxx Xxxxxx Mortgage Loan or the MGM Grand & Mandalay Bay Mortgage Loan, as applicable, based on the Seller’s percentage interest as of the date hereof in such Mortgage Loan.
Notwithstanding anything to the contrary herein, the Seller’s obligation in respect of a Material Defect with respect to each of the MGM Grand & Mandalay Bay Mortgage Loan and The Galleria Office Towers Mortgage Loan shall be solely in respect of the Seller’s pro rata share of the MGM Grand & Mandalay Bay Mortgage Loan or The Galleria Office Towers Mortgage Loan, as applicable, based on the Seller’s percentage interest as of the date hereof in such Mortgage Loan.
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The Seller is only selling to the Purchaser the related Mortgage Note(s) in favor of the Seller (or one of its affiliates) and its successors and assigns in the original principal amount of $50,000,000 with respect to the MGM Grand & Mandalay Bay Mortgage Loan, representing the 66.7% pari passu interest of the Seller in the MGM Grand & Mandalay Bay Mortgage Loan (and only such Mortgage Note(s) will constitute a “Mortgage Loan” or “Mortgage Note(s)” hereunder).