Specially Serviced Loan Any Serviced Loan (including a related REO Mortgage Loan or REO Companion Loan) as to which any of the following events has occurred:
Specially Designated Nationals and Blocked Persons list maintained by the Office of Foreign Assets Control of the United States Department of the Treasury found at: xxxxx://xxx.xxxxxxxx.xxx/ofac/downloads/sdnlist.pdf;
Other Loans Specially Mentioned Special Mention", "Substandard", "Doubtful", "Loss", "Classified", "Criticized", "Watch list" or words of similar import, together with the principal amount of and accrued and unpaid interest on each such Loan and the identity of the obligor thereunder, (4) where a reasonable doubt exists as to the timely future collectibility of principal and/or interest, whether or not interest is still accruing or the loans are less than 90 days past due, (5) where the interest rate terms have been reduced and/or the maturity dates have been extended subsequent to the agreement under which the loan was originally created due to concerns regarding the borrower's ability to pay in accordance with such initial terms, or (6) where a specific reserve allocation exists in connection therewith, and (G) all assets classified by Innes Street or Citizens Bank as real estate acquired through foreclosure or in lieu of foreclosure, including in-substance foreclosures, and all other assets currently held that were acquired through foreclosure or in lieu of foreclosure.
Commercially Useful Function means responsibility for the execution of a distinct element of the work of the contract, which is carried out by actually performing, managing, and supervising the work involved, evidencing the responsibilities and risks of a business owner such as negotiating the terms of (sub)contracts, taking on a financial risk commensurate with the contract or its subcontract, responsibility for acquiring the appropriate lines of credit and/or loans, or fulfilling responsibilities as a joint venture partner as described in the joint venture agreement.
Specially Serviced Mortgage Loan means the Mortgage Loan during the period it is serviced by the Special Servicer following a Servicing Transfer Event.
Financially Literate means the ability to read and understand a set of financial statements that present a breadth and level of complexity of accounting issues that are generally comparable to the breadth and complexity of the issues that can reasonably be expected to be raised by the Corporation’s financial statements.
medically approved means certified by a medical practitioner;
Substantially all means a sale, lease, exchange or other transfer involving seventy percent (70%) or more of the fair market value of the assets of such entity; or
publicly controlled means owned by or otherwise under the control of an organ of state, including a –
OFAC SDN List means the list of the Specially Designated Nationals and Blocked Persons maintained by OFAC.
Specially Designated Mortgage Loan Documents With respect to any Mortgage Loan, subject to Section 1.04, the following documents on a collective basis:
Socially and economically disadvantaged person means an individual who is a citizen or lawful permanent resident of the United States and who is Black, Hispanic, Native American, Asian, Female; or a member of another group or an individual found to be disadvantaged by the Small Business Administration pursuant to Section 3 of the Small Business Act.
Controlled unaffiliated business means a company:
Officially Designated means designated by the Shareholder of Record:
Commercially available off-the-shelf (COTS) item means a COTS item as defined in FAR 2.101
Principally Above Ground means that at least 51% of the actual cash value of the structure is above ground.
Financially Evaluated Entity means the company which has been evaluated for the satisfaction of the financial requirement set forth in Clause 2.1.3 hereof;
Residential facility for persons with a disability means a residence:
Acutely mentally ill means a condition which is limited to
Commonly Controlled Entity an entity, whether or not incorporated, that is under common control with the Borrower within the meaning of Section 4001 of ERISA or is part of a group that includes the Borrower and that is treated as a single employer under Section 414 of the Code.
Regulated motor vehicle surface means any of the following, alone or in combination:
Totally and Permanently Disabled means a person as defined in 42 U.S.C. section 416.
Executive Order shall have the meaning assigned to such term in Section 3.22.
Safeguarding and promoting the welfare of children means: • Protecting children from maltreatment• Preventing impairment of children’s mental or physical health or development• Ensuring that children grow up in circumstances consistent with the provision of safe and effective care• Taking action to enable all children to have the best outcomes
Sexually motivated ’ means that one of the purposes for which the defendant committed the crime was for the purpose of the defendant’s sexual gratification.
Sexually oriented business means an adult arcade, adult bookstore or adult video store, adult cabaret, adult motel, adult motion picture theater, adult theater, escort agency, nude model studio, or sexual encounter center.