Pari Passu Loans definition

Pari Passu Loans. Mortgage Loans secured by Mortgaged Properties that also secure on a pari passu basis any Companion Loans.
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Pari Passu Loans means the Loans as defined in the Pari Passu Credit Agreement.
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Pari Passu Loans means the Woodfield Pari Passu Loan and the Long Beach Pari Passu Loan.
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Examples of Pari Passu Loans in a sentence

  • The transfer and assignment of the Non-Trust-Serviced Pari Passu Loans to the Trustee and the right to service such Mortgage Loans are subject to the terms and conditions of the Other Pooling and Servicing Agreements and the Intercreditor Agreements.

  • The Master Servicer shall be the Master Servicer with respect to all the Mortgage Loans (other than the Non-Trust-Serviced Pari Passu Loans), the Serviced Companion Loan and other assets in the Trust and, as such, shall service and administer such assets as shall be required of the Master Servicer hereunder with respect to such of the Trust assets.

  • The duties of the Special Servicer set forth in this Section 9.4(b) with respect to the Specially Serviced Mortgage Loans shall not include the Non-Trust-Serviced Pari Passu Loans.

  • Notwithstanding anything contained in Article IV or in this Article VIII to the contrary, the Master Servicer will not be required to make any Servicing Advances with respect to the Non-Trust-Serviced Pari Passu Loans.

  • Trust-Serviced Pari Passu Loans With respect to each Non-Trust-Serviced Pari Passu Loan, in the event that the Master Servicer or the Trustee receives notice from any of Moody's, Fitch or S&P that the Master Servicer or the Trustee, as app▇▇▇▇▇▇▇, is no longer approved by such Rating Agency, the Master Servicer or the Trustee, as applicable, shall be required to notify each of the other parties to this Agreement and the related Other Master Servicer of the same.

  • Notwithstanding anything to the contrary contained herein, for purposes of this Agreement, there are no Serviced Pari Passu Loans, and each reference to a Whole Loan with a "Serviced Pari Passu Loan" shall be ignored as inapplicable to this Agreement.

  • The Capmark Master Servicer shall maintain the Certificate Account with respect to the MSMCH Loans, the GECC Loans, the PCFII Loans and the NatCity Loans other than the Non-Trust Serviced Pari Passu Loans, the Wells Fargo Master Servicer shall ▇▇▇▇▇ain the Certificate Account with respect to the RBC Loans and the Nationwide Loans, and the NCB Master Servicer shall maintain the Certificate Account with respect to the NCB, FSB Loans.

  • I Advances with Respect to the Non-Trust Serviced Pari Passu Loans.................................................

  • Borrower shall provide the Administrative Agent with Appraisals covering all interests required to be included within the Collateral: (a) no later than the Closing Date (other than with respect to the GK Collateral); and (b) as may be required in connection with Pari Passu Loans as provided herein.

  • Amounts attributable to the Desert Passage Pari Passu Loans will not be assets of the Trust Fund or the Trust REMICs and will be beneficially owned by the respective Companion Loan Noteholders.

Related to Pari Passu Loans

  • Pari Passu Companion Loan A Companion Loan that, pursuant to the related Loan Documents and/or the related Co-Lender Agreement, is pari passu in right of payment to the related Split Mortgage Loan. The only Pari Passu Companion Loans related to the Trust as of the Closing Date are evidenced by the Notes identified in the Loan Combination Table under the column heading “Pari Passu Companion Loan(s),” each of which Notes evidences a separate Pari Passu Companion Loan.

  • Pari Passu Debt means any Debt of the Issuer that ranks pari passu in right of payment to the Notes.

  • Pari Passu Securities means any class or series of capital stock of the Company hereafter created specifically ranking, by its terms, on parity with the Designated Preferred Stock as to distribution of assets upon liquidation, dissolution or winding up of the Company, whether voluntary or involuntary.

  • Pari Passu Lien Obligations means any Financial Indebtedness that has equal or substantially equal Security Interest priority to the Facilities on the Security (taking into account any intercreditor arrangements).

  • Pari Passu Indebtedness means any Indebtedness of the Issuer or any Guarantor that ranks pari passu in right of payment with the Notes or the Note Guarantees, as applicable.