Noteless Loan Asset definition

Noteless Loan Asset means a Loan Asset with respect to which the Loan Agreements (i) do not require the Obligor to execute and deliver a promissory note to evidence the indebtedness created under such Loan Asset or (ii) require any holder of the indebtedness created under such Loan Asset to affirmatively request a promissory note from the related Obligor.
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Noteless Loan Asset means a Loan Asset with respect to which the Loan Agreement (i) does not require the Obligor to execute and deliver a promissory note to evidence the indebtedness created under such Loan Asset or (ii) requires any holder of the indebtedness created under such Loan Asset to affirmatively request a promissory note from the related Obligor (and none has been requested with respect to such Loan Asset held by the Borrower).
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Noteless Loan Asset means a Loan Asset with respect to which the Loan Agreements (a) do not require the Obligor to execute and deliver a promissory note to evidence the Indebtedness created under such Loan Asset or (b) require the Obligor to execute and deliver such promissory note to any holder of the Indebtedness created under such Loan Asset only if such holder requests the Obligor to deliver such promissory note, and the Obligor has not been requested to deliver such promissory note with respect to such Loan Asset held by the Borrower.
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Examples of Noteless Loan Asset in a sentence

  • At any time a Noteless Loan Asset is included as part of the Collateral Portfolio pursuant to this Agreement, the Servicer shall deliver to the Administrative Agent, the Collateral Agent and the Collateral Custodian a copy of the related Loan Asset Register, together with a certificate of a Responsible Officer of the Servicer (in the form of Exhibit Q) certifying to the accuracy of such Loan Asset Register as of the applicable Cut-Off Date.


More Definitions of Noteless Loan Asset

Noteless Loan Asset means a Loan Asset with respect to which the underlying Loan Asset Documents either (i) do not require the Obligor to execute and deliver a promissory note to evidence the indebtedness created under such Loan Asset or (ii) require execution and delivery of such a promissory note only upon the request of any holder of the indebtedness created under such Loan Asset, and as to which the Borrower has not requested a promissory note.
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Noteless Loan Asset means a debt Portfolio Investment with respect to which the underlying loan or credit agreement does not require the underlying obligor to execute and deliver a promissory note to evidence the indebtedness (or requires the holder of the indebtedness to affirmatively request a promissory note and such promissory note has been requested but not yet received); provided that for any debt Portfolio Investment for which the Borrower or its Affiliates is the administrative agent, all such debt obligations shall be evidenced by a promissory note; provided, further that any Noteless Loan Asset shall be identified as such in the Borrowing Base Certificate.
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Noteless Loan Asset means a Loan Asset with respect to which the Loan Agreements (a) do not require the Obligor to execute and deliver a promissory note to evidence the Indebtedness created under such Loan Asset or (b) require the Obligor to execute and deliver such promissory note to any holder of the Indebtedness created under such Loan Asset only if such holder requests the Obligor to deliver such promissory note, and the Obligor has not been requested to deliver such promissory note with respect to such Loan Asset held by the Borrower. Principal Collections shall be deposited, in the name of the Borrower for the benefit of and under the control of the Collateral Agent for the benefit of the Secured Parties; provided that the funds deposited therein (including any interest and earnings thereon) from time to time shall constitute the property and assets of the Borrower, and the Borrower shall be solely liable for any Taxes payable with respect to the Principal Collection Account.
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Noteless Loan Asset means a Loan Asset with respect to which the Loan Agreements (a) do not require the Obligor to execute and deliver a promissory note to evidence the Indebtedness created under such Loan Asset or (b) require the Obligor to execute and deliver such promissory note to any holder of the Indebtedness created under such Loan Asset only if BUSINESS.29976944.1031088955.8 by Omnibus Amendment No. 3, dated as of June 30, 2015 and as may be further amended, restated, supplemented and/or otherwise modified from time to time.
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Related to Noteless Loan Asset

  • Loan Asset means each commercial loan identified on Schedule A hereto, and each commercial loan identified on any Purchase Notice.

  • Mortgage Loan Borrower shall have the meaning assigned to such term in the recitals.

  • Mortgage Loan Agreement means the Loan Agreement, dated as of June 17, 2022, between the Mortgage Loan Borrower, as borrower, and Xxxxx Fargo Bank, National Association, as lender, as the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • Note A-4 Securitization means the first sale by the Note A-4 Holder of all or a portion of Note A-4 to a depositor who will in turn include such portion of Note A-4 as part of the securitization of one or more mortgage loans.