Permitted Defeasance Date definition

Permitted Defeasance Date means the date that is the earlier of (a) four (4) years from the Closing Date or (b) two (2) years from the “startup day” within the meaning of Section 860G(a)(9) of the Code of the REMIC Trust.

Permitted Defeasance Date means the date that is two (2) years from the “startup day” within the meaning of Section 860G(a)(9) of the Code for the REMIC Trust which holds the portion of the Note last to be securitized.

Permitted Defeasance Date means the earlier of (i) the date that is two (2) years from the “startup day” within the meaning of Section 860G(a)(9) of the Code for the REMIC Trust which holds the portion of the Note last to be securitized and (ii) the third (3rd) anniversary of the first Payment Date.

Examples of Permitted Defeasance Date in a sentence

• Upon the occurrence of the Permitted Defeasance Date, Borrower’s right to prepay under this Section 9(d) shall terminate.

• Borrower shall have the right at any time during the period, if any, following the occurrence of the Permitted Release Date until the Permitted Defeasance Date (hereinafter defined), to prepay the Debt in whole (but not in part) upon not less than thirty (30) days and not more than ninety (90) days prior written notice to Lender specifying the projected date of prepayment and upon payment of an amount equal to the Yield Maintenance Premium.

• Whenever the customer advises the Company's designated representative prior to the disconnection of service that any part of the billing as rendered or any part of the service is in dispute, the Company shall investigate the dispute promptly, advise the customer of investigation and its result, attempt to resolve dispute, and withhold disconnection of service until the investigation is completed and the customer is informed of the findings in writing.

• If the Permitted Release Date (hereinafter defined) has occurred but the Permitted Defeasance Date (hereinafter defined) has not occurred, and provided no Event of Default exists, the Debt may be prepaid in whole (but not in part) prior to the Permitted Defeasance Date upon not less than thirty (30) days and not more than ninety (90) days prior written notice to Lender specifying the projected date of prepayment and upon payment of an amount equal to the Yield Maintenance Premium.

• Prior to the Permitted Defeasance Date, Operating Tenant has no right or option pursuant to the Operating Lease or otherwise to purchase all or any part of the leased premises or the building of which the leased premises are a part.

More Definitions of Permitted Defeasance Date

Permitted Defeasance Date means any Payment Date occurring after the earlier to occur of two years after the start up date within the meaning of Section 860G(a)(9) of the I.R.C. of any Person or pool of assets electing REMIC status in a Secondary Market Transaction in which the Long Note is included or January 1, 2004.

Permitted Defeasance Date means any Payment Date occurring after the earlier of two years after the start up date within the meaning of Section 860G(a)(9) of the I.R.C. of any Person or pool of assets electing REMIC status in a Secondary Market Transaction which includes the Loan or thirty-six (36) months after the Closing Date.

Permitted Defeasance Date means the date that is the earlier of (a) three years from the Closing Date or (b) two (2) years from the "startup day" within

Permitted Defeasance Date shall have the meaning set forth in Section 2.6.1.

Permitted Defeasance Date means any Payment Date after the earlier ------------------------- to occur of two years after the Start Up Date (or such earlier or later time permitted by Treasury Regulation (S)1.860G-2(a)(8), or any successor provision) of any Person or pool of assets electing REMIC status in a securitization which includes the Loan or three years after the Closing Date.

Permitted Defeasance Date means the date that is the earlier of (a) three years from the Closing Date or (b) two (2) years from the "startup day" within the meaning of Section 860G(a)(9) of the Internal Revenue Code of any REMIC Trust that holds the Note.

Permitted Defeasance Date means the date that is the earlier of (a) three (3) years from the Closing Date or (b) two (2) years from the “startup day” within the meaning of Section 860G(a)(9) of the Code of the REMIC Trust. “Permitted Encumbrances” shall mean collectively, (a) the Liens and security interests created by the Loan Documents, (b) all Liens, encumbrances and other matters disclosed in the Title Insurance Policy relating to the Property or any part thereof, (c) Liens, if any, for Taxes imposed by any Governmental Authority not yet delinquent (but expressly excluding any XXXX Xxxx), and (d) such other title and survey exceptions as Lender has approved or may approve in writing in Xxxxxx’s sole discretion; provided that, none of which items (a) through (d), individually or in the aggregate, materially interferes with the value, current use or operation of the Property or the security intended to be provided by the Security Instrument or with the current ability of the Property to generate net cash flow sufficient to service the Loan or Borrower’s ability to pay and perform the Obligations under the Loan Documents when they become due. “Permitted Investments” shall mean “permitted investments” as then defined and required by the Rating Agencies. “Person” shall mean any individual, corporation, partnership, joint venture, limited liability company, estate, trust, unincorporated association, any federal, State, county or municipal government or any bureau, department or agency thereof and any fiduciary acting in such capacity on behalf of any of the foregoing. “Personal Property” shall have the meaning set forth in Article 1 of the Security Instrument. “Physical Conditions Report” shall mean a structural engineering report prepared by a company satisfactory to Lender regarding the physical condition of the Property, satisfactory in form and substance to Lender.