Minimum Release Price definition

Minimum Release Price means, for any Purchased Asset, an amount equal to the greater of (a) the lesser of (i) the Initial Value of such Purchased Asset, (ii) the Collateral Value for such Purchased Asset as of the date that Capital Trust notifies Buyer of its intent to sell, dispose, transfer or refinance such Purchased Asset pursuant to a Permitted Disposition, and (iii) 110% of the Repurchase Price of such Purchased Asset and (b) the Repurchase Price.

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Minimum Release Price means with respect to any Loan, an amount equal to the greater of (i) the portion of the Repurchase Price allocable to such Loan, and (ii) the full amount of proceeds received in connection with the sale of such Loan.

Minimum Release Price means the amount described in clauses (A)(i)(b), (ii)(b) and (iii)(b) of the definition of “Release Price”

Examples of Minimum Release Price in a sentence

Prior to or simultaneously with the repurchase of any Loan or removal of any Loan from any Trust, the Seller shall pay or cause to be paid to the account specified in Section 4(a) above, the related Minimum Release Price in connection with such Loan.
Company will not dispose of, or permit Servicer to dispose of, a Collateral Loan or otherwise settle the amount owed on any Collateral Loan, or permit any REO Affiliate to dispose of any REO Property, for an amount which is less than the Minimum Release Price.
Borrower shall create at Bank a deposit account (“Excess Release Reserve”) into which any Minimum Release Price payment received in excess of the Loan balance at the time of receipt of such Minimum Release Price shall be deposited.
Notwithstanding anything to the contrary contained herein, at the closing of a sale of any Release Property, Borrower shall have the right but not the obligation to direct any Net Sale Proceeds in excess of the sum of (1) the Minimum Release Price and (2) any Modification Fees then due and payable (including but not limited to the portion of the Modification Fee due and owing as a result of the subject Sale) to the payment of any Modification Fee that has been earned but is not yet due and payable..
For purposes of clarification, following the release of any Property specified above, the then applicable Committed Amount shall be permanently reduced (for all purposes under this Agreement) to a new lesser Committed Amount by an amount equal to the greater of (a) the Minimum Release Price paid to release such Property, or (b) any reduction in the Committed Amount required under Subsection 7.22(e) above.

More Definitions of Minimum Release Price

Minimum Release Price shall have the meaning set forth in Section 8.7.1 hereof.

Minimum Release Price means, in the case of any Permitted Release in connection with the sale, disposition or other transfer of any asset included in the Facility Pool, [***].

Minimum Release Price means, with respect to a Release Parcel or Lot, 200% of the amount set forth on Exhibit A hereto as the Allocated Loan Amount for such Release Parcel or Lot (which amount, with respect to Lots, shall be the amount set forth in column 10a of Exhibit A).

Minimum Release Price means, with respect to each Property, the product of (a) one hundred ten percent (110%); multiplied by (b) the allocated loan amount for the property. If the debt service coverage ratio and/or LTV conditions are not satisfied Mortgagor may either (x) increase the amount of the release price or (y) post cash or a letter of credit with the lender in an amount sufficient to satisfy the debt service coverage ratio and/or LTV conditions so long as any applicable legal requirements relating to any REMIC Trust (including, without limitation, any constraints, rules and/or other regulations and/or requirements relating to the servicing, modification and/or other similar matters with respect to the Mortgage Loan (or any portion thereof and/or interest therein)) have been satisfied. If there is a termination of a Walgreens Lease as a result a casualty or condemnation, the Mortgagor is required to prepay the Mortgage Loan by the applicable allocated loan amount for the applicable individual Property and the applicable individual Property will be released (and no yield maintenance premium will be required), provided, that if the Mortgage Loan or any portion thereof is included in a Securitization and, immediately following a release of any individual Property or any portion of any Property following a casualty or condemnation, the ratio of the unpaid principal balance of the Mortgage Loan to the value of the remaining Properties is greater than 125%, the principal balance of the Mortgage Loan must be paid down by Mortgagor by the greater of (i) 110% of the allocated loan amount or (ii) the least of the following amounts: (A) the net proceeds, (B) the fair market value of the portion of the Property released following such casualty or condemnation at the time of the release, or (C) an amount such that the loan-to-value ratio of the Mortgage Loan (as so determined by Lender) does not increase after the release, unless the Lender receives an opinion of counsel that a different application of the net proceeds will not cause the Securitization to fail to meet applicable REMIC Requirements or subject such Securitization to tax.

Minimum Release Price means, with respect to each Mortgaged Property, the sum of the following amounts:

Minimum Release Price means, with respect to any Unit, the minimum release price set forth on Schedule IX required to be paid to Administrative Agent for the ratable benefit of the Lenders in connection with the release of such Unit from the lien of the Security Instrument pursuant to and in accordance with Section 2.21; provided, however, if the amount of any such Minimum Release Price is less than the amount necessary to ensure that the Loan is not categorized as HVCRE and to otherwise satisfy the requirements of Sections 2.21(j) through (m), then the applicable Minimum Release Price shall be equal to the lowest amount determined by Administrative Agent to be necessary to ensure that the Loan is not categorized as HVCRE and to otherwise satisfy the requirements of Sections 2.21(j) through (m)..

Minimum Release Price means the lowest amount for which a Borrower is permitted to sell the portion of a Mortgaged Property pursuant to the Underlying Instrument.