Special Servicing Period definition

Special Servicing Period. Any Interest Accrual Period during which a Mortgage Loan is at any time a Specially Serviced Mortgage Loan.
Sample 1Sample 2Sample 3
Special Servicing Period means any period of time during which any of the Notes constitute Specially Serviced Notes (as such term is defined in the Servicing Agreement).
Sample 1Sample 2Sample 3
Special Servicing Period has the meaning set forth in the Trust Agreement.
Sample 1Sample 2Sample 3

Examples of Special Servicing Period in a sentence

  • The Servicer will be entitled to rely on information supplied by the Borrowers or the Manager in any case without independent verification (and during a Special Servicing Period, to the extent consistent with the Servicing Standard).

  • From and after the second (2nd) anniversary of the Initial Closing Date the Asset Entities may dispose of Tower Sites at any time; provided that (i) during a Special Servicing Period, no Tower Site dispositions may be made without the Servicer’s consent and (ii) if, after giving effect to any proposed disposition of a Tower Site, the Tenant Quality Tests would not be satisfied, the Issuer shall have delivered to the Indenture Trustee a Rating Agency Confirmation with respect thereto.

  • With respect to the Securitization Indebtedness, except as set forth on Schedule 3.4(b) or in connection with the Purchase Option (for which Sellers shall be responsible in accordance with Section 2.6(c)), no Event of Default, Special Servicing Period, Amortization Period or Cash Trap Condition (as those terms are defined in the indentures governing the Securitization Indebtedness) is (A) currently ongoing or (B) will be triggered by the transactions contemplated hereby.

  • With respect to each Specially Serviced Loan and any Distribution Date, an amount per Special Servicing Period equal to the product of (i) one-twelfth of the Special Servicing Fee Rate and (ii) the Stated Principal Balance of such Specially Serviced Loan or REO Loan as of the Due Date (without giving effect to all payments of principal on such Specially Serviced Loan or REO Loan on such Due Date) in the Collection Period prior to such Distribution Date.

  • At any time during a Special Servicing Period, no Tower Site dispositions may be made without the Servicer’s consent.

  • The Asset Entities may dispose of Tower Sites at any time; provided that (i) during a Special Servicing Period, no Tower Site dispositions may be made without the Servicer’s consent and (ii) if, after giving effect to any proposed disposition of a Tower Site, the Tenant Quality Tests would not be satisfied, the Issuer shall have delivered to the Indenture Trustee a Rating Agency Confirmation with respect thereto.


More Definitions of Special Servicing Period

Special Servicing Period means any period (i) during an Event of Default, (ii) following a Casualty where the cost of Restoration exceeds the Restoration Threshold, beginning 30 days after such Casualty, but only to the extent that material property damage not covered by insurance remains unrestored, (iii) any failure timely to pay Taxes or Insurance Premiums (or, if deposits for Tax and Insurance Funds are then required hereunder, to pay such deposits), (iv) if at any time Underwritable Cash Flow for the trailing 12-month period is below $870,000, (v) if at any time beginning September 30, 2024 or later, the Debt Yield for the trailing 12-month period is below 7.25%, or if a Franchise Agreement Trigger Period is continuing.
Sample 1
Special Servicing Period. Any Interest Accrual Period during which any of the following have occurred:
Sample 1
Special Servicing Period. The period during which a Mortgage Loan or Companion Loan is a Specially Serviced Loan.
Sample 1
Special Servicing Period means any period of time during which any of the Notes constitute Specially Serviced Notes.
Sample 1

Related to Special Servicing Period

  • Interim Servicing Period The period from the Closing Date to the related Servicing Transfer Date.

  • Special Servicer Servicing Personnel The divisions and individuals of the Special Servicer who are involved in the performance of the duties of the Special Servicer under this Agreement.

  • Special Servicing Fee shall have the meaning given to such term in the Servicing Agreement.

  • Special Servicing Fees shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • Master Servicer Servicing Personnel The divisions and individuals of the Master Servicer who are involved in the performance of the duties of the Master Servicer under this Agreement.

  • Master Servicing Fee As to any Distribution Date, an amount equal to one-twelfth the product of (a) the Master Servicing Fee Rate and (b) the outstanding principal balance of each Mortgage Loan. Master Servicing Fee Rate: 0.00% per annum.

  • Servicing Transfer Date The date on which a Servicing Transfer occurs.

  • Primary Servicing Fee means, with respect to each Mortgage Loan and REO Mortgage Loan, the fee payable to the Primary Servicer pursuant to Section 3.01(c)(20) of this Agreement.

  • Excess Servicing Fees With respect to each Mortgage Loan (including an REO Mortgage Loan), that portion of the Servicing Fee that accrues at a per annum rate equal to the Excess Servicing Fee Rate.

  • Servicing Portfolio means, as to any Person, the unpaid principal balance of Mortgage Loans serviced by that Person under Servicing Contracts, minus the principal balance of all Mortgage Loans that are serviced by that Person for others under subservicing arrangements.

  • Countrywide Servicing Agreement Solely with respect to the Countrywide Mortgage Loans, the Mortgage Loan Purchase and Servicing Agreement, dated as of November 1, 2001, between the Transferor, as purchaser, and Countrywide, as seller and as servicer (as successor to Countrywide Home Loans, Inc. by an assignment dated January 1, 2001, as the same may be amended or supplemented), as the same may be amended from time to time, and any assignments and conveyances related to the Countrywide Mortgage Loans.

  • Interim Servicing Agreement The agreement to be entered into by the Purchaser and the Interim Servicer, providing for the Interim Servicer to service the Mortgage Loans as specified by the Interim Servicing Agreement.

  • FTPS Unit Servicing Agent means FTP Services LLC or any successor FTPS Unit servicing agent appointed as hereinafter provided."

  • Excess Servicing Fee Right With respect to each Mortgage Loan (including an REO Mortgage Loan with respect thereto), the right to receive Excess Servicing Fees. In the absence of any transfer of the Excess Servicing Fee Right, the Master Servicer shall be the owner of such Excess Servicing Fee Right.

  • Master Servicer Advance Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Master Servicing Agreement means the master servicing agreement entered into on 20 May 2013 between the Guarantor, the Issuer and the Master Servicer.

  • Noteholder Servicing Fee is defined in Section 3.1.

  • Note A-1 Special Servicer means the special servicer under the Note A-1 PSA.

  • Investor Servicing Fee means, with respect to any Distribution Date, an amount equal to the product of the Investor Servicing Fee Percentage and the Series Investor Interest on the first day of the Due Period related to such Distribution Date (or in the case of the first Distribution Date for the Series established hereby, the Series Initial Investor Interest).

  • Master Servicer Remittance Date With respect to any Distribution Date, the Business Day immediately preceding such Distribution Date.

  • Note A-2 Special Servicer means the special servicer under the Note A-2 PSA.

  • Primary Servicing Agreement means the agreement between the Primary Servicer and the General Master Servicer, dated as of March 1, 2007, under which the Primary Servicer services the Mortgage Loans set forth on the schedule attached thereto.

  • Note A-3 Special Servicer means the special servicer under the Note A-3 PSA.

  • Other Servicer Mortgage Loan Any of the Mortgage Loans, if any, identified in Exhibit F-2 hereto, as such Exhibit may be amended from time to time in connection with a substitution pursuant to Sections 2.02 or 2.06, which Mortgage Loan is serviced under an Other Servicing Agreement.

  • Excess Servicing Fee For each calendar month, as to each Mortgage Loan, the portion of the related Excess Servicing Fee Rate applicable to such month (determined in the same manner as the applicable Mortgage Rate determined for such Mortgage Loan for such month) multiplied by the Scheduled Principal Balance of such Mortgage Loan immediately before the Due Date occurring in such month, but prorated for the number of days during the calendar month for such Mortgage Loan for which interest actually accrues on such Mortgage Loan and only from collections on such Mortgage Loan.

  • Sub-Servicing Account An account established by a Sub-Servicer which meets the requirements set forth in Section 3.08 and is otherwise acceptable to the Master Servicer.