Examples of Replaced Property in a sentence
From and after the Substitution of a Substitute Property in accordance herewith, such Substitute Property shall thereafter be deemed a Property, and shall have the Allocated Loan Amount applicable to the Replaced Property.
After giving effect to such Substitution, as of the Substitution Date the LTV Ratio for all of the Properties then remaining subject to the Liens of the Security Instrument (i.e. including the Substitute Property and excluding the Replaced Property), shall not be less than 79.8%.
After giving effect to such Substitution, as of the Substitution Date the LTV Ratio for all of the Properties then remaining subject to the Liens of the Security Instruments (i.e. including the Substitute Property and excluding the Replaced Property), shall not be more than the Closing Date LTV.
Concurrently with the completion of all steps necessary to effect a Substitution as provided in this Section 2.3.5, Mezzanine Lender shall cause Mortgage Lender to release such Replaced Property from the Lien of the Security Instrument and related Loan Documents (or to the extent so requested by Mortgage Borrower, assign the Lien of the Security Instrument to a new lender without representation, warranty or recourse).
Concurrently with the completion of all steps necessary to effect a Substitution as provided in this Section 2.3.5, Mezzanine Lender shall permit Mortgage Lender to release such Replaced Property from the Lien of the applicable Security Instrument and related Loan Documents (Mortgage) and convey the Replaced Property to a Person other than Mortgage Borrower or another SPE Entity.