Operating Advisor Standard definition

Operating Advisor Standard. As defined in Section 3.29(b) of this Agreement.
Sample 1Sample 2Sample 3
Operating Advisor Standard. The requirement that the Operating Advisor must act solely on behalf of the Trust and in the best interest of, and for the benefit of, the Certificateholders (as a collective whole as if such Certificateholders constituted a single lender), and not for the holders of any particular class of Certificates, as determined by the Operating Advisor in the exercise of its good faith and reasonable judgment, but without regard to any conflict of interest arising from any relationship that the Operating Advisor or any of its Affiliates may have with the Loan Borrower, any manager of the Property, the Borrower Sponsor, the Sponsor, the Depositor, the Servicer, the Special Servicer, any Certificateholder, the Controlling Class Representative or any of their respective Affiliates.
Sample 1Sample 2Sample 3
Operating Advisor Standard. The requirement that the Operating Advisor must act solely on behalf of the Trust and in the best interest of, and for the benefit of, the Certificateholders and, with respect to any Serviced Whole Loan for the benefit of the holders of the related Companion Loan (as a collective whole as if such Certificateholders and Companion Holders constituted a single lender, taking into account the pari passu nature of any related Pari Passu Companion Loan and the subordinate nature of any related AB Subordinate Companion Loan), and not to any particular Class of Certificateholders (as determined by the Operating Advisor in the exercise of its good faith and reasonable judgment), but without regard to any conflict of interest arising from any relationship that the Operating Advisor or any of its Affiliates may have with any of the underlying Mortgagors, property managers, any Sponsor, the Mortgage Loan Seller, the Depositor, the Master Servicer, the Special Servicer, the Asset Representations Reviewer, the Directing Holder or any of their respective Affiliates.
Sample 1Sample 2Sample 3

Examples of Operating Advisor Standard in a sentence

  • The Operating Advisor shall at all times act in accordance with the Operating Advisor Standard in fulfilling its responsibilities and obligations under this Agreement.

  • In preparing an Operating Advisor Annual Report, the Operator Advisor is not required to report on instances of non-compliance with, or deviations from, the Servicing Standard or the Special Servicers’ obligations under this Agreement that the Operating Advisor determines, in accordance the Operating Advisor Standard, to be immaterial.


More Definitions of Operating Advisor Standard

Operating Advisor Standard. The requirement that the Operating Advisor must act solely on behalf of the Trust and in the best interest of, and for the benefit of, the Certificateholders and, with respect to any Serviced Whole Loan for the benefit of the holders of the related Companion Loan (as a collective whole as if such Certificateholders and Companion Holders constituted a single lender), and not to any particular Class of Certificateholders (as determined by the Operating Advisor in the exercise of its good faith and reasonable judgment), but without regard to any conflict of interest arising from any relationship that the Operating Advisor or any of its Affiliates may have with any of the underlying Mortgagors, any Sponsor, any Mortgage Loan Seller, the Depositor, the Master Servicer, the Special Servicer, the Asset Representations Reviewer, the Directing Certificateholder, the Risk Retention Consultation Party or any of their Affiliates.
Sample 1Sample 2Sample 3
Operating Advisor Standard. As defined in Section 9.5(b) of this Agreement.
Sample 1Sample 2Sample 3
Operating Advisor Standard is defined in Section 2(a).
Sample 1Sample 2Sample 3
Operating Advisor Standard. As defined in Section 3.22(b).
Sample 1Sample 2Sample 3
Operating Advisor Standard. The requirement that the Operating Advisor must act solely on behalf of the Trust and in the best interest of, and for the benefit of, the Certificateholders (as a collective whole as if such Certificateholders constituted a single lender), and not for any particular class of Certificateholders, as determined by the Operating Advisor in the exercise of its good faith and reasonable judgment, but without regard to any conflict of interest arising from any relationship that the Operating Advisor or any of its Affiliates may have with the Loan Borrower, any manager of the Property, the Borrower Sponsor, the U.S. REIT Sponsor, the Sponsor, the Depositor, the Servicer, the Special Servicer, the Controlling Class Representative or any of their respective Affiliates.
Sample 1Sample 2
Operating Advisor Standard. As defined in Section 3.22(b). “Operating Advisor Termination Event”: As defined in Section 7.06(b). “Optional Redemption”: As defined in the Indenture. “Other Borrower Request”: Any Non-material Borrower Request or request for any Future Funding Amount. “Par Purchase Price”: As defined in Section 3.17. “Pari Passu Participation”: A fully funded pari passu participation interest in a Mortgage Loan or a Combined Loan. “Participated Loan”: Any Mortgage Loan or Combined Loan in which a Pari Passu Participation represents an interest. “Participation”: As defined in the Indenture. “Participation A-2 Holder”: As defined in the related Participation Agreement. “Participation Agent”: With respect to any Participated Loan that is a Non-CLO Custody Collateral Interest, the party designated as such under the related Participation Agreement. “Participation Agent Fee”: With respect to each Participated Loan that is a Non- CLO Custody Collateral Interest, the sum of $250 per month. “Participation Agreement”: With respect to each Participated Loan, the participation agreement that governs the rights and obligations of the holders of the related Pari Passu Participation, the related Future Funding Companion Participation and, if applicable, the Related Funded Companion Participation. “Participation Holder Register”: Shall have the meaning ascribed it in Section 3.25(b) hereof. “Patewood Repurchase Event”: As defined in the Indenture. 00000000.00.
Sample 1

Related to Operating Advisor Standard

  • Operating Advisor Fee With respect to any Mortgage Loan (or any successor REO Mortgage Loan with respect thereto) and any Distribution Date, an amount accrued during the related Interest Accrual Period at the applicable Operating Advisor Fee Rate on, in the case of the initial Distribution Date, the Cut-Off Date Balance of such Mortgage Loan and, in the case of any subsequent Distribution Date, the Stated Principal Balance of such Mortgage Loan as of the close of business on the Distribution Date in the related Interest Accrual Period; provided that such amounts shall be computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed due on the related Mortgage Loan is computed and shall be prorated for partial periods. Such fee shall be in addition to, and not in lieu of, any other fee or other sum payable to the Operating Advisor under this Agreement. For the avoidance of doubt, the Operating Advisor Fee shall be payable from the Lower-Tier REMIC.

  • Operating Advisor means the operating advisor appointed as provided in the Lead Securitization Servicing Agreement.

  • Non-Lead Operating Advisor means the “trust advisor”, “operating advisor” or other analogous term under any Non-Lead Securitization Servicing Agreement.

  • Non-Lead Servicer means any Non-Lead Master Servicer or Non-Lead Special Servicer, as the context may require.

  • Sub-Servicer Any Person with which the Master Servicer has entered into a Sub-Servicing Agreement and which meets the qualifications of a Sub-Servicer pursuant to Section 3.02.

  • Property Manager means an entity that has been retained to perform and carry out at one or more of the Properties property-management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property.

  • Lead Servicer means the master servicer designated under the Note A-1 PSA.

  • Special Servicer means the special servicer appointed to act in such capacity with respect to the Mortgage Loan as provided in the Lead Securitization Servicing Agreement.

  • Reasonable and prudent parent standard means the

  • Non-Lead Special Servicer means the “special servicer” under any Non-Lead Securitization Servicing Agreement.

  • Operating Profit means the excess of Gross Revenues over the following deductions (“Deductions”) incurred by Manager, on behalf of Owner, in operating the Hotel: