Multifamily Loan Group definition
Examples of Multifamily Loan Group in a sentence
Each Mortgage in the Multifamily Loan Group is secured by a Mortgaged Property or properties each of which contains at least five dwelling units.
For each Mortgaged Property financed by a Mortgage in the Multifamily Loan Group, a certificate of occupancy has been collected or confirmation that the certificate of occupancy has been issued by the appropriate authority has been obtained.
The Mortgage Loan documents for each mortgage in the Multifamily Loan Group contain covenants that prohibit a change of use of the Mortgaged Property securing such mortgage without the mortgagee's prior consent.
As used in Exhibit B, the term "Multifamily Loan Group" shall mean a loan group comprised of the multifamily mortgages and mortgages on manufactured housing parks identified as Loan Group 2 on the Mortgage Loan Schedule.
The term "Multifamily Representation" shall mean each of the representations and warranties made by the Seller with respect to any Mortgage Loan in the Multifamily Loan Group in clause (48) of Exhibit B.
Each Mortgaged Property financed by a Mortgage in the Multifamily Loan Group that is secured by a newly-constructed property has achieved a percentage of physical occupancy of more than 65% as indicated in Annex A to the Prospectus Supplement.
For purposes of this Section 5(a) and other related provisions of this Agreement, a breach of any Multifamily Representation with respect to a Mortgage Loan in the Multifamily Loan Group shall be deemed to materially and adversely affect the value of the Mortgage Loan or the related Mortgaged Property or the interests of the Purchaser in such Mortgage Loan and shall constitute a Material Breach.
Each Mortgaged Property that relates to a Mortgage Loan in the Multifamily Loan Group and that is improved by a newly-constructed multifamily apartment building has achieved the percentage of occupancy indicated in Annex A to the Prospectus Supplement.
Each Mortgage Loan in the Multifamily Loan Group is secured by a Mortgaged Property or properties each of which contains at least five dwelling units.
Each Mortgaged Property securing a Mortgage Loan in Loan Group No. 2 (the "Multifamily Loan Group") is located in the United States or in its territories (Puerto Rico, the U.S. Virgin Islands, Guam).