Operating Advisor Consultation Trigger Event definition
Operating Advisor Consultation Trigger Event. The event that occurs when the aggregate Certificate Balance of the HRR Interest (as notionally reduced by any Cumulative Appraisal Reduction Amount then allocable to the HRR Interest in accordance with Section 3.10(a) of this Agreement) is 25% or less of the initial aggregate Certificate Balance of the HRR Interest; provided that an Operating Advisor Consultation Trigger Event shall at all times be deemed to exist with respect to Excluded Mortgage Loans.
Operating Advisor Consultation Trigger Event. With respect to all the Mortgage Loans, the event that occurs when the aggregate Certificate Balance of the HRR Interest (as notionally reduced by any Cumulative Appraisal Reduction Amounts then allocable to the HRR Interest in accordance with Section 3.10(a) of this Agreement) is 25% or less of the initial aggregate Certificate Balance of the HRR Interest; provided that an Operating Advisor Consultation Trigger Event shall at all times be deemed to exist with respect to Excluded Mortgage Loans. Solely with respect to a Trust Subordinate Companion Whole Loan, a related Loan-Specific Operating Advisor Consultation Trigger Event shall be an additional Operating Advisor Consultation Trigger Event.
Operating Advisor Consultation Trigger Event. The event that occurs (i) with respect to any Serviced Loan (including the Woodlands Mall Loan Combination and The Centre Loan Combination), when the aggregate outstanding Certificate Balance of the HRR Interest (as notionally reduced by any Cumulative Appraisal Reduction Amount then allocable to the HRR Interest pursuant to Section 3.06(a) of this Agreement) is 25% or less of the initial aggregate Certificate Balance of the HRR Interest, and (ii) with respect to The Centre Loan Combination, also when the outstanding Certificate Balance of the Class TCRR Certificates (as notionally reduced by any Cumulative Appraisal Reduction Amount then allocable to the Class TCRR Certificates) is 25% or less of the initial aggregate Certificate Balance of the Class TCRR Certificates. Furthermore, with respect to Excluded Mortgage Loans, an Operating Advisor Consultation Trigger Event shall be deemed to exist.
Examples of Operating Advisor Consultation Trigger Event in a sentence
While a Collateral Deficiency Amount exists, the existence thereof shall be taken into account for purposes of determining whether a CCR Control Period and/or Operating Advisor Consultation Trigger Event is or is not then in effect as provided in the definition thereof.
The Special Servicer shall deliver to the Operating Advisor each Final Asset Status Report and, if an Operating Advisor Consultation Trigger Event exists, each other Asset Status Report.
More Definitions of Operating Advisor Consultation Trigger Event
Operating Advisor Consultation Trigger Event. The event that occurs when the aggregate Certificate Balance of the RR Interest (as notionally reduced by any Cumulative Appraisal Reduction Amount then allocable to the RR Interest in accordance with Section 3.10(a) of this Agreement) is 25% or less of the initial aggregate Certificate Balance of the RR Interest; provided that an Operating Advisor Consultation Trigger Event shall at all times be deemed to exist with respect to Excluded Mortgage Loans.
Operating Advisor Consultation Trigger Event. With respect to all the Mortgage Loans, the event that occurs when the aggregate Certificate Balance of the HRR Interest (as notionally reduced by any Cumulative Appraisal Reduction Amounts then allocable to the HRR Interest in accordance with Section 3.10(a) of this Agreement) is 25% or less of the initial aggregate Certificate Balance of the HRR Interest; provided that an Operating Advisor Consultation Trigger Event shall at all times be deemed to exist with respect to Excluded Mortgage Loans. Solely with respect to the Woodfield Mall Whole Loan, a Woodfield Mall Operating Advisor Consultation Trigger Event shall be an additional Operating Advisor Consultation Trigger Event.