REO Extension definition

REO Extension. As defined in Section 3.16(a).
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REO Extension. As defined in Section 3.16(a) of this Agreement.
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REO Extension shall have the meaning assigned thereto in Section 3.17(a).
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Examples of REO Extension in a sentence

  • If the Special Servicer is granted (or is not denied) the REO Extension contemplated by clause (i) of the immediately preceding sentence or obtains the Opinion of Counsel contemplated by clause (ii) of the immediately preceding sentence, the Special Servicer shall sell such REO Property within such longer period as is permitted by such REO Extension or such Opinion of Counsel, as the case may be.

  • Any expense incurred by the Special Servicer in connection with its receiving the REO Extension contemplated by clause (i) of the second preceding sentence or its obtaining the Opinion of Counsel contemplated by clause (ii) of the second preceding sentence shall be an expense of the Trust Fund payable out of the Collection Account pursuant to Section 3.06(a) of this Agreement.

  • Any expense incurred by the Special Servicer in connection with its being granted the REO Extension contemplated by clause (i) of the second preceding sentence or its obtaining the Opinion of Counsel contemplated by clause (ii) of the second preceding sentence, shall be an expense of the Trust Fund payable out of the Certificate Account pursuant to Section 3.05(a).

  • Any expense incurred by the Special Servicer in connection with its applying for and being granted the REO Extension contemplated by clause (i) of the third preceding sentence or its obtaining the Opinion of Counsel contemplated by clause (ii) of the third preceding sentence, and for the creation of and the operating of a limited liability company, shall be covered by, and be reimbursable as, a Servicing Advance.

  • If the Special Servicer is granted or not denied the REO Extension contemplated by clause (i) of the immediately preceding sentence or obtains the Opinion of Counsel contemplated by clause (ii) of the immediately preceding sentence, the Special Servicer shall sell such REO Property within such longer period as is permitted by such REO Extension or such Opinion of Counsel, as the case may be.

  • If the Special Servicer is granted the REO Extension contemplated by clause (i) of the immediately preceding sentence or obtains the Opinion of Counsel contemplated by clause (ii) of the immediately preceding sentence, the Special Servicer shall sell such REO Property within such longer period as is permitted by such REO Extension or such Opinion of Counsel, as the case may be.

  • If the Special Servicer is granted the REO Extension contemplated by clause (i) of the immediately preceding sentence or obtains the Opinion of Counsel contemplated by clause (ii) of the immediately preceding sentence, the Special Servicer shall sell such REO Property within such extended period as is permitted by such REO Extension or such Opinion of Counsel, as the case may be.

  • Regardless of whether the Special Servicer applies for or is granted the REO Extension contemplated by clause (i) of the immediately preceding sentence or obtains the Opinion of Counsel referred to in clause (ii) of such sentence, the Special Servicer shall act in accordance with the Servicing Standard to liquidate the subject Administered REO Property on a timely basis.

  • Any expense incurred by the applicable Special Servicer in connection with its applying for and being granted the REO Extension contemplated by clause (i) of the third preceding sentence or its obtaining the Opinion of Counsel contemplated by clause (ii) of the third preceding sentence, and for the creation of and the operating of a limited liability company, shall be covered by, and be reimbursable as, a Servicing Advance.

  • If the applicable Special Servicer is granted such REO Extension or obtains such Opinion of Counsel with respect to any Administered REO Property, the applicable Special Servicer shall (i) promptly forward a copy of such REO Extension or Opinion of Counsel to the Trustee, and (ii) sell the subject Administered REO Property within such extended period as is permitted by such REO Extension or contemplated by such Opinion of Counsel, as the case may be.


More Definitions of REO Extension

REO Extension has the meaning set forth in Section 8.19(a).
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REO Extension shall have the meaning assigned thereto in Section ------------- ------- 3.16(a). -------
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Related to REO Extension

  • Auto-Extension Letter of Credit has the meaning specified in Section 2.03(b)(iii).

  • Second Extension Period means the period of one (1) Contract Year commencing immediately after the end of the First Extension Period.

  • Resolution Extension Period As defined in Section 2.03(b).

  • Extension Term means the time period defined in §2.C.

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).

  • Line Extension means the provision of facilities (including, but not limited to, poles, fixtures, wires, and appurtenances) necessary for delivering electrical energy from the point of origin to one or more of the customer's points of delivery. Facilities provided by the Company to maintain, protect, upgrade, or improve its overall distribution system (even if necessary due to a customer's load addition) are not considered part of a line extension.

  • Initial Extension of Credit means the earlier to occur of the initial Borrowing and the initial issuance of a Letter of Credit hereunder.

  • Notice of Extension has the meaning specified in Section 2.20.

  • Second Extension Option shall have the meaning set forth in Section 2.6.1 hereof.

  • Extension Option shall have the meaning set forth in Section 2.5(c) hereof.

  • Extension Period has the meaning set forth in Section 2.11.

  • Non-Extended Facility has the meaning specified in Section 3.5(d).

  • Term Loan Extension Request has the meaning set forth in Section 2.16(a).

  • Term Loan Extension Series has the meaning set forth in Section 2.16(a).

  • Time Extension shall have the meaning set forth in Clause 10.5;

  • Non-Extension Drawing has the meaning specified in Section 3.5(d).

  • Extension has the meaning specified in Section 2.18(a).

  • Non-Extension Notice has the meaning specified in Section 2.10.

  • Initial Prepayment shall have the meaning set forth in Section 7.2 of this Agreement.

  • Debt service extension base means an amount equal to that

  • Extended Loans shall have the meaning assigned to such term in Section 2.21(a).

  • Extended Loan shall have the meaning assigned to such term in Section 2.26(a).

  • Renewal Application means a document used to collect pertinent data for renewal of permits

  • Request for Extension of Credit means a written request substantially in the form of Exhibit A duly completed and signed by a Responsible Officer, or a telephonic request followed by such a written request, in each case delivered to Administrative Agent by Requisite Notice. In the case of a request for a new or amended Letter of Credit, the written Letter of Credit Application shall be deemed to be the Request for Extension of Credit.

  • Applied Non-Extension Advance has the meaning assigned to such term in Section 2.06(a).