Examples of Mortgage Asset Documents in a sentence
If such Purchased Asset is not sold within thirty (30) calendar days, Seller or its designee shall return to Custodian the Mortgage Asset Document(s) previously released from Custodian’s Mortgage Asset File immediately after the expiration of such thirty-day period.
In the case of any Transaction that is a Wet Funding, Seller shall (i) no later than 12:00 noon (New York City time) on the Purchase Date, deliver or cause Bailee to deliver to Custodian and Buyer by Electronic Transmission, PDF copies of the Mortgage Asset Documents and (ii) deliver or cause Bailee to deliver the original Mortgage Asset Documents to Custodian no later than 5:00 p.m., New York City time, on the fifth (5th) Business Days after the Purchase Date in accordance with Section 2.01(f)(ii) above.
In the case of any Transaction that is not a Wet Funding, Seller shall deliver the Mortgage Asset Documents to Custodian one (1) Business Day prior to the Purchase Date.
The terms of the Mortgage Asset Documents require the Mortgagor to comply in all material respects with all applicable governmental regulations, zoning and building laws.
No other escrow amounts have been released except in accordance with the terms and conditions of the Mortgage Asset Documents.
All escrow deposits and payments required to be escrowed with lender pursuant to the Mortgage Asset Documents are in the possession, or under the control, of Issuer or its servicer, and there are no deficiencies (subject to any applicable grace or cure periods) in connection therewith.
The Mortgage Asset Documents for each Mortgage Asset that is secured by a hospitality property operated pursuant to a franchise agreement includes an executed comfort letter or similar agreement signed by the Mortgagor and franchisor of such property enforceable against such franchisor, either directly or as an assignee of the originator.
Both the Mortgage Asset Documents and the organizational documents of the Mortgagor with respect to each Mortgage Asset with a principal amount on the Cut-off Date of $5 million or more provide that the borrower is a Single- Purpose Entity, and each Mortgage Asset with a principal amount on the Cut-off Date of $20 million or more has a counsel’s opinion regarding non-consolidation of the Mortgagor.
The Servicer shall notify the Indenture Trustee that any such assumption agreement or similar agreement has been completed by forwarding to the Indenture Trustee the original copy of such assumption agreement or similar agreement for addition to the related Mortgage Asset Documents.
The Mortgage or other Mortgage Asset Documents provide that to the extent any rating agency fees are incurred in connection with the review of and consent to any transfer or encumbrance, the Mortgagor is responsible for such payment along with all other reasonable fees and expenses incurred by the Mortgagee relative to such transfer or encumbrance.