Reserve Collateral definition

Reserve Collateral shall have the meaning assigned such term in Section 21(i).

Reserve Collateral means, with respect to any Serviced Senior/Subordinate Loan Combination, any securities, letters of credit, cash or other collateral permitted to be delivered by a Serviced Subordinate Non-Trust Mortgage Loan Noteholder to offset, reduce or otherwise mitigate an Appraisal Reduction Amount in accordance with the related Co-Lender Agreement.

Reserve Collateral means, with respect to any Loan Combination (other than the SBS Tower Loan Combination, the Walgreens Eastpointe Loan Combination and the FedEx Boise Loan Combination), the "Reserve Collateral" within the meaning of the related Co-Lender Agreement.

Examples of Reserve Collateral in a sentence

• Lead Securitization Note Holder will require an opinion, in form and substance and from counsel reasonably acceptable to Lead Securitization Note Holder, regarding the validity, perfection and priority of each Note A Holder’s interest in any Reserve Collateral.

• Within ten (10) Business Days following such Final Recovery Determination and application, the Lead Securitization Note Holder (or the Servicer on its behalf) shall pay any remaining portion of such proceeds of the Reserve Collateral to the Note B Holder.

• The applicable Note B Holder shall grant to and create in favor of each Note A Holder a first priority perfected pledge and security interest in the Reserve Collateral in a manner reasonably satisfactory to Lead Securitization Note Holder.

• The applicable Note B Holder may make such election upon written notice to the Lead Securitization Note Holder of its intention to post Reserve Collateral, and upon notifying Lead Securitization Note Holder of such intention, such Note B Holder shall post such Reserve Collateral as quickly as practicable (but in no event more than three (3) Business Days following the receipt of the above notice) by delivering such Reserve Collateral to Lead Securitization Note Holder.

• In addition, the applicable Note B Holder shall pay or cause to be paid any and all reasonable out of pocket costs and expenses incurred by each Note A Holder (and any servicing party on its behalf) associated with the delivery and/or pledge of such Reserve Collateral, including the costs and expenses of any opinion of counsel.

More Definitions of Reserve Collateral

Reserve Collateral means, with respect to the Alexandria Mall Loan Combination, the "Reserve Collateral" within the meaning of the Alexandria Mall Co-Lender Agreement.

Reserve Collateral shall have the meaning set forth in Section 29.

Reserve Collateral. Has the meaning set forth in Section 5(c) herein.

Reserve Collateral means, with respect to the Charles River Plaza North Loan Combxxxxxxx and the Encino Courtyard Loan Combination, the "Reserve Collateral" within the meaning of the related Co-Lender Agreement.

Reserve Collateral means, with respect to the Greensboro Corporate Center Loan Combination, the "Reserve Collateral" within the meaning of the Greensboro Corporate Center Co-Lender Agreement.

Reserve Collateral means the Initial Reserve Collateral and all other Mortgaged Properties pledged by Counterparty (to be construed in the aggregate) and the Credit Support Providers to Xxxx pursuant to the terms of this Agreement and the other Secured Trading Line Documents, provided that Reserve Collateral shall not include on any date any property that is not then a Qualified Mortgaged Property.

Reserve Collateral shall have the meaning assigned to such term in Section 6(e).