Specially Managed Unit definition

Specially Managed Unit. As defined in the Property Management Agreement.
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Specially Managed Unit. Any Property or Mortgage Loan as to which any of the following events has occurred:
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Specially Managed Unit. Any Property as to which any of the following events has occurred:
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Examples of Specially Managed Unit in a sentence

  • The Property Management Fee with respect to any Property and Mortgage Loan shall cease to accrue if the Property or Mortgage Loan becomes a Specially Managed Unit.

  • The Property Management Fee with respect to any Property shall cease to accrue if the Property becomes a Specially Managed Unit.

  • If a Lease becomes a Specially Managed Unit, the Special Servicer shall perform or obtain a physical inspection of the related Property within six (6) months after such Property becomes a Specially Managed Unit.

  • Subject to all other provisions and limitations set forth herein, the Special Servicer shall take such actions with respect to each Specially Managed Unit as it determines in accordance with the Servicing Standard, acting in the best interests of the applicable Issuer and the Noteholders.

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  • In addition, each Sub-Management Agreement entered into by the Property Manager shall provide that the Sub-Manager thereunder shall have no obligation to take any enforcement or collection action or any other action in the nature of special servicing with respect to any Specially Managed Unit, and any Sub-Management Agreement entered into by the Special Servicer shall relate only to Specially Managed Units and shall terminate with respect to any such Property that ceases to be a Specially Managed Unit.

  • In addition, each Sub-Management Agreement entered into by the Property Manager shall provide that such agreement shall terminate with respect to any Lease and Property, and Loan serviced thereunder at the time such Property or Loan becomes a Specially Managed Unit, and each Sub-Management Agreement entered into by the Special Servicer shall relate only to Specially Managed Units and shall terminate with respect to any such Property or Loan that ceases to be a Specially Managed Unit.

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  • The Property Management Fee with respect to any Property and Loan shall cease to accrue if the Property or Loan becomes a Specially Managed Unit.

  • If a Lease or Loan becomes a Specially Managed Unit, the Special Servicer shall perform or obtain a physical inspection of the related Property within six (6) months after such Property becomes a Specially Managed Unit.


More Definitions of Specially Managed Unit

Specially Managed Unit means any Property as to which a Servicing Transfer Event has occurred.
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Related to Specially Managed Unit

  • fully managed account means an account of a client for which a person makes the investment decisions if that person has full discretion to trade in securities for the account without requiring the client’s express consent to a transaction;

  • Investment Fund has the same meaning as in National Instrument 81-106 Investment Fund Continuous Disclosure;

  • Manager-managed limited liability company means a limited liability company that is managed by

  • Managed Assets means the total assets of the Trust minus the sum of the accrued liabilities (other than the aggregate indebtedness constituting financial leverage). For any period less than a month during which this Agreement is in effect, the fee shall be prorated according to the proportion which such period bears to a full month of 28, 29, 30 or 31 days, as the case may be.

  • Member-managed limited liability company means a limited liability company that is not a manager-managed limited liability company.

  • Managed Account means an account of a client for which a person or company makes the investment decisions if that person or company has discretion to trade in securities for the account without requiring the client’s express consent to a transaction;

  • Recreational vehicle park means any tract of land used for parking five or more self-contained recreational vehicles and includes any roadway, building, structure, vehicle, or enclosure used or intended for use as part of the park facilities and any tract of land that is subdivided for lease or other contract of the individual lots for the express or implied purpose of placing self-contained recreational vehicles for recreation, vacation, or business purposes.

  • Medium-duty vehicle or “MDV” means any motor vehicle rated between 8,501 pounds and 10,000 pounds gross vehicle weight.

  • Affordable Housing Unit means a rental unit in an affordable housing building that rents for an amount that is affordable to households at or below 60 percent of area median income, as median income was most recently determined by the United States Department of Housing and Urban Development for the Minneapolis-St. Paul-Bloomington, Minnesota-Wisconsin Metropolitan Statistical Area, as adjusted for household size and number of bedrooms.

  • Managed health care system means: (a) Any health care

  • Stinger-steered automobile or watercraft transporter means an automobile or watercraft transporter

  • Appraisal management company means, in connection with valuing properties collateralizing mortgage loans or mortgages incorporated into a securitization, any external third party that oversees a network or panel of more than fifteen certified or licensed appraisers in this state or twenty-five or more nationally within a given year, that is authorized either by a creditor of a consumer credit transaction secured by a consumer's principal dwelling or by an underwriter or other principal in the secondary mortgage markets that engages in appraisal management services.

  • Spending unit means the department, bureau, division, office, board, commission,

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) [replaced by The Companies Act, 2013 (No.18 of 2013)] and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund.

  • Residential Unit means a home, apartment, residential condominium unit or mobile home, serving as the principal place of residence.

  • Federally Qualified Health Center means a non-administrative medical facility with a fixed permanent location that is identified on the following search engines and offers health services on a sliding scale payment system: http://findahealthcenter.hrsa.gov or http://www.ihs.gov/ or http://www.aachc.org/.

  • Section 385 Controlled Partnership has the meaning set forth in Treasury Regulation Section 1.385-1(c)(1) for a “controlled partnership”.

  • Recreational Vehicle (RV means a vehicle, which is:

  • Operating Unit means, for purposes of this part, primary and constituent operating units designated as such in the Department Order Series of the De- partment of Commerce and, in addi- tion, the Office of the Secretary.