Prudent Lender Standard definition

Prudent Lender Standard shall, with respect to any matter, be deemed to have been met if the matter in question (i) prior to a Securitization, is reasonably acceptable to Lender and (ii) after a Securitization, (A) if permitted by REMIC Requirements applicable to such matter, would be reasonably acceptable to Lender or (B) if the Lender discretion in the foregoing subsection (A) is not permitted under such applicable REMIC Requirements, would be acceptable to a prudent lender of securitized commercial mortgage loans.
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Prudent Lender Standard shall, with respect to any matter, be deemed to have been met if the matter in question (i) prior to a Securitization, is reasonably acceptable to Lender and (ii) after a Securitization, would be acceptable to a prudent lender of securitized commercial mortgage loans.
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Prudent Lender Standard shall, with respect to any matter, be deemed to have been satisfied if the matter in question (i) prior to the Start-Up Day, is reasonably acceptable to Lender, and (ii) after the Start-Up Day, would be acceptable to a prudent lender of securitized commercial mortgage loans.
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Examples of Prudent Lender Standard in a sentence

  • The Successor Obligor shall assume, in a writing or writings satisfying the Prudent Lender Standard, all of Borrower’s obligations under the Full Defeased Note or the Defeased Note, as the case may be, the other Loan Documents and the Security Agreement and, upon such assignment, Borrower shall, except as set forth herein, be relieved of its obligations hereunder.

  • As used herein, the term “Satisfactory Replacement Guarantor” shall mean a replacement guarantor that (1) satisfies the net worth and liquidity requirements set forth herein, (2) is acceptable to the Rating Agencies, (3) satisfies the Prudent Lender Standard and (4) is an Affiliate of Sponsor.

  • Notwithstanding anything to the contrary contained in this Section 4.27, the parties hereto hereby acknowledge and agree that after the Securitization of the Loan (or any portion thereof or interest therein), with respect to any Lender approval or similar discretionary rights over any matters contained in this Section 4.27, such rights shall be construed such that Lender shall only be permitted to withhold its consent or approval if the same fails to meet the Prudent Lender Standard.

  • Notwithstanding anything to the contrary contained herein or in the other Loan Documents, the Defeased Note and the Undefeased Note shall not be cross defaulted or cross collateralized unless the Rating Agencies or Lender (in its application of the Prudent Lender Standard) shall require otherwise.

  • Upon the satisfaction of the foregoing conditions set forth in this Section 2.16(b), Lender shall execute customary instruments satisfying the Prudent Lender Standard releasing and discharging the applicable Fort Worth East Tower Property from the Liens of the Loan Documents (other than any liability or obligation relating to any environmental matters arising under Section 5.1(F) of this Agreement).

  • Upon the satisfaction of the foregoing conditions set forth in this Section 2.16(b), Lender shall execute customary instruments satisfying the Prudent Lender Standard releasing and discharging the applicable Office Building Property from the Liens of the Loan Documents (other than any liability or obligation relating to any environmental matters arising under Section 5.1(F) of this Agreement through the date of the release).

  • Upon the satisfaction of the foregoing conditions precedent, as reasonably determined by Lender in accordance with the Prudent Lender Standard, Lender will release its lien from the Substituted Property and the Replacement Property shall be deemed to be the applicable Mortgaged Property for purposes of the Mortgages and the Allocated Loan Amount with respect to the Substituted Property shall be deemed to be the Allocated Loan Amount with respect to the Replacement Property for all purposes hereunder.

  • In addition, Borrower shall provide all other documentation as may reasonably be required to satisfy the Prudent Lender Standard in connection with such release, together with an Officer’s Certificate certifying that such documentation (i) is in compliance with all applicable Legal Requirements, and (ii) will effect such release in accordance with the terms of this Agreement.

  • If the Loan (or any interest therein) is held by a REMIC, Borrower shall include in the certificate required pursuant to clause (E) above such additional representations and warranties with respect to Borrower, the Property, the Added Fee Collateral or the Loan as the Lender or the Rating Agencies may require (in accordance with the Prudent Lender Standard), and shall deliver such certificate in form and substance satisfactory to the Lender and the Rating Agencies.

  • However, in her trial testimony, this date changes to June 11, 2013.


More Definitions of Prudent Lender Standard

Prudent Lender Standard shall, with respect to any matter, be deemed to have been met if the matter in question (i) prior to a Securitization, is acceptable to Lender in its commercially reasonable discretion and (ii) after a Securitization, (A) if permitted by the applicable legal requirements relating to any REMIC Trust (including, without limitation, those relating to the continued treatment of the Loan (or the applicable portion thereof and/or interest therein) as a “qualified mortgage” held by such REMIC Trust), the continued qualification of such REMIC Trust as such, the non-imposition of any tax on such REMIC Trust (including, without limitation, taxes on “prohibited transactions” and “contributions”) and any other REMIC Requirements, would be acceptable to Lender in its commercially reasonable discretion or (B) if the Lender discretion in the foregoing subsection (A) is not permitted under such applicable REMIC Requirements, would be acceptable to a prudent lender of commercial mortgage loans exercising its commercially reasonable discretion.
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Prudent Lender Standard shall, with respect to any matter, be deemed to have been met if the matter in question is reasonably acceptable to Lender.
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Prudent Lender Standard shall, with respect to any matter, be deemed to have been met if the matter in question (i) prior to a Securitization, is reasonably acceptable to Lender and (ii) after a Securitization, (A) if permitted by legal requirements relating to any REMIC Trust formed pursuant to a Securitization maintaining its status as a “real estate mortgage investment conduit” within the meaning of Section 860D of the IRS Code applicable to such matter, would be reasonably acceptable to Lender or (B) if the Lender discretion in the foregoing subsection (A) is not permitted under such applicable legal requirements relating to any REMIC Trust formed pursuant to a Securitization maintaining its status as a “real estate mortgage investment conduit” within the meaning of Section 860D of the IRS Code applicable to such matter, would be acceptable to a prudent lender of securitized commercial mortgage loans similar to the Loan.
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Prudent Lender Standard shall, with respect to any matter, be deemed to have been met if the matter in question (i) prior to a Securitization, is reasonably acceptable to Lender and (ii) after a Securitization, (A) if permitted by REMIC Requirements applicable to such matter, would be reasonably acceptable to Lender or (B) if the Lender discretion in the foregoing subsection (A) is not permitted under such applicable REMIC Requirements, would be acceptable to a prudent lender of securitized commercial mortgage loans. “Qualified Carrier” shall have the meaning set forth in Section 5.1 hereof. “Qualified Management Agreement” shall mean a management agreement with a Qualified Manager with respect to the Property which is approved by Xxxxxx in writing (which such approval may be conditioned upon Xxxxxx's receipt of (i) a Rating Agency Confirmation with respect to such management agreement and (ii) if such Qualified Manager is an Affiliated Manager, and a Non-Consolidation Opinion has been previously provided to Lender, a New Non-Consolidation Opinion with respect to such management agreement). “Qualified Manager” shall mean a Person approved by Xxxxxx in writing (which such approval may be conditioned upon Xxxxxx's receipt of (i) a Rating Agency Confirmation with respect to such Person and (ii) if such Person is an Affiliated Manager, and a Non-Consolidation Opinion has been previously provided to Lender, a New Non-Consolidation Opinion with respect to such Person). “Rating Agencies” shall mean each of S&P, Moody’s, Fitch, DBRS, Inc., Xxxxx Bond Ratings and Morningstar Credit Ratings, LLC and any other nationally-recognized statistical rating agency designated by Xxxxxx (and any successor to any of the foregoing) in connection with and/or in anticipation of any Secondary Market Transaction. “Rating Agency Confirmation” shall mean a written affirmation from each of the Rating Agencies that the credit rating of the Securities given by such Rating Agency immediately prior to the occurrence of the event with respect to which such Rating Agency Confirmation is sought will not be qualified, downgraded or withdrawn as a result of the occurrence of such event, which affirmation may be granted or withheld in such Rating Agency’s sole and absolute discretion; provided, however, (i) if a Securitization has occurred and either (A) any Rating Agency fails to respond to any request for a Rating Agency Confirmation with respect to such event or otherwise elects (verbally or in writing) not to cons...
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Prudent Lender Standard shall, with respect to any matter, be deemed to have been met if the matter in question (i) prior to a Securitization, is reasonably acceptable to Lender and
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Prudent Lender Standard shall, with respect to any matter, be deemed to have been satisfied if the matter in question (i) prior to the “start up day” (within the meaning of Section 860G(a)(9) of the Code) of the REMIC trust established in connection with the first Securitization involving the Loan, is reasonably acceptable to Lender and (ii) after the “start up day” (within the meaning of Section 860G(a)(9) of the Code) of the REMIC trust established in connection with the first Securitization involving the Loan, would be acceptable to a prudent lender of securitized commercial mortgage loans.
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Related to Prudent Lender Standard

  • Replacement Lender shall have the meaning provided in Section 2.13.

  • Required Prepayment Lenders the Majority Facility Lenders in respect of each Facility.

  • Refinancing Lenders has the meaning specified in Section 2.15(c).

  • Refinancing Lender means, at any time, any bank, other financial institution or institutional investor that agrees to provide any portion of any Credit Agreement Refinancing Indebtedness pursuant to a Refinancing Amendment in accordance with Section 2.28; provided that each Refinancing Lender (other than any Person that is a Lender, an Affiliate of a Lender or an Approved Fund of a Lender at such time) shall be subject to the approval of the Administrative Agent and each Issuing Bank (in the case of Other Refinancing Revolving Commitments or Other Refinancing Revolving Loans) (such approval not to be unreasonably withheld or delayed), in each case to the extent any such consent would be required from the Administrative Agent and each Issuing Bank (in the case of Other Refinancing Revolving Commitments or Other Refinancing Revolving Loans) under Section 10.4(b) for an assignment of Loans or Commitments to such Refinancing Lender.

  • New Lenders has the meaning set forth in Section 2.16(c).

  • Required Facility Lenders means, with respect to any Facility on any date of determination, Lenders having more than 50% of the sum of (i) the outstanding Loans under such Facility and (ii) the aggregate unused Commitments under such Facility; provided that, to the same extent set forth in Section 10.07(h) with respect to determination of Required Lenders, the Loans of any Affiliated Lender shall in each case be excluded for purposes of making a determination of Required Facility Lenders.

  • Purchasing Lenders shall have the meaning set forth in Section 9.6(c).

  • Exit Facility Lenders means each of the lenders under the Exit Facility Credit Agreement, solely in their respective capacities as such.

  • Requisite Revolving Lenders means Lenders having (a) more than 66 2/3% of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, more than 66 2/3% of the aggregate outstanding amount of the Revolving Loan.

  • Additional Commitment Lender shall have the meaning provided in Section 2.15(c).

  • Requisite Term Loan Lenders shall in no event mean less than two Term Loan Lenders.

  • Additional Lenders has the meaning assigned to such term in Section 2.18(b).

  • Lender Affiliate means, (a) with respect to any Lender, (i) an Affiliate of such Lender or (ii) any entity (whether a corporation, partnership, trust or otherwise) that is engaged in making, purchasing, holding or otherwise investing in bank loans and similar extensions of credit in the ordinary course of its business and is administered or managed by a Lender or an Affiliate of such Lender and (b) with respect to any Lender that is a fund which invests in bank loans and similar extensions of credit, any other fund that invests in bank loans and similar extensions of credit and is managed by the same investment advisor as such Lender or by an Affiliate of such investment advisor.

  • Supermajority Lenders of any Tranche shall mean those Non-Defaulting Lenders which would constitute the Required Lenders under, and as defined in, this Agreement if (x) all outstanding Obligations of the other Tranches under this Agreement were repaid in full and all Commitments with respect thereto were terminated and (y) the percentage “50%” contained therein were changed to “66-2/3%.”

  • Delinquent Lender has the meaning provided in SECTION 8.15.

  • Refinancing Revolving Lender as defined in Section 2.26(a).

  • Existing Lenders means the lenders party to the Existing Credit Agreement.

  • Qualified Financial Institution means, at any time, a financial institution organized under the laws of any jurisdiction in the United States of America or Europe that at such time has outstanding debt obligations with a stated maturity of one year or less from the date of issue and rated A-1 or higher by Standard & Poor’s, a division of The McGraw Hill Companies, Inc., Ratings Group (or any successor) or P-1 or higher by Moody’s Investors Service, Inc. (or any successor) or, in either case, such other comparable rating, if any, then used by such rating agency.

  • Replacement Liquidity Provider has the meaning set forth in the Intercreditor Agreement.

  • Supermajority Revolving Lenders means Lenders having (a) 80% or more of the Revolving Loan Commitments of all Lenders, or (b) if the Revolving Loan Commitments have been terminated, 80% or more of the aggregate outstanding amount of the Revolving Loan (with the Swing Line Loan being attributed to the Lender making such Loan) and Letter of Credit Obligations.

  • Consenting Lenders has the meaning specified in Section 2.13(b).

  • Funding Lender means Citibank N.A., a national banking association, and any successor under this Funding Loan Agreement and the Borrower Loan Documents.

  • Affected Financial Institution means (a) any EEA Financial Institution or (b) any UK Financial Institution.

  • Restricted Lender means a Lender that fails to approve an amendment, waiver or consent requested by the Loan Parties pursuant to Section 10.01 that has received the written approval of not less than the Required Lenders but also requires the approval of such Lender.

  • Impacted Lender means a Defaulting Lender or a Lender as to which (a) the Administrative Agent or L/C Issuer has a good faith belief that such Lender has defaulted in fulfilling its obligations under one or more other syndicated credit facilities or (b) an entity that controls such Lender has been deemed insolvent or become the subject of a bankruptcy or insolvency proceeding.

  • Qualified Lender means a lender approved by the Director of Transportation to finance the transfer of Medallions under the former Taxi Medallion Sales Pilot Program or the Taxi Medallion Transfer Program.