SLC Mortgaged Property definition
Examples of SLC Mortgaged Property in a sentence
If such REO Acquisition occurs with respect to an SLC Mortgaged Property, then the Special Servicer shall establish an REO Account solely with respect to such property (an "SLC REO Account"), to be held for the benefit of the Certificateholders and the related Serviced Non-Trust Mortgage Loan Noteholder(s), as their interests may appear.
Notwithstanding the foregoing, in no event shall a Master Servicer or the Special Servicer obtain an appraisal of any SLC Mortgaged Property pursuant to this Section 3.09(a) after the related SLC Trust Mortgage Loan has been paid in full.
The Special Servicer will deliver a copy of each Required Appraisal (or letter update or internal valuation) to the applicable Master Servicer, the Controlling Class Representative and the Trustee (and, in the case of an SLC Mortgaged Property, the related Serviced Non-Trust Mortgage Loan Noteholder(s)) within 10 Business Days of obtaining such Required Appraisal (or letter update or internal valuation).
The Special Servicer will deliver a copy of each Required Appraisal (or letter update or internal valuation) to the applicable Master Servicer, the Controlling Class Representative and the Trustee (and, in the case of the One World Financial Center Mortgaged Property, the Class WFC Representative and, in the case of an SLC Mortgaged Property, the related Serviced Non-Trust Mortgage Loan Noteholder(s)) within 10 Business Days of obtaining such Required Appraisal (or letter update or internal valuation).