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;

  • Average Daily Managed Assets of the Fund shall mean the average daily value of the total assets of the Fund, less all accrued liabilities of the Fund (other than the aggregate amount of any outstanding borrowings constituting financial leverage). The Adviser may waive a portion of its fees. If this Agreement becomes effective subsequent to the first day of a month or shall terminate before the last day of a month, compensation for such month shall be computed in a manner consistent with the calculation of the fees payable on a monthly basis. Subject to the provisions of Section 5 below, the accrued fees will be payable monthly as promptly as possible after the end of each month during which this Agreement is in effect.

  • Managed Fund means those Funds, individually and collectively, for which the Portfolio Manager makes buy and sell decisions.

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

  • Managed Assets means the Fund’s net assets, including assets attributable to any principal amount of any borrowings (including the issuance of commercial paper or notes) or preferred shares outstanding. For the avoidance of doubt, assets attributable to borrowings includes the portion of the Fund’s assets in a tender option bond trust of which the Fund owns the residual interest (without regard to the value of the residual interest to avoid double counting).

  • 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;

  • Investment Management Fee means each of the Senior Investment Management Fee, the Subordinated Investment Management Fee and the Incentive Investment Management Fee.

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

  • Investment Company Client means any Investment Company (or series thereof ) as to which the Firm is an investment adviser or investment sub-adviser.

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

  • Managed Accounts means an account that is professionally managed through a wrap program. Managed Accounts require pre-approval through the Compliance Department prior to starting up the account. The Compliance Department will consider the facts and circumstances of the account, including the functions and duties of the employees, when approving or denying such accounts. In addition, preclearance is exempt with Managed Accounts, however, all trades still require reporting and duplicate statements and confirmations are required to be sent to the Compliance Department. Preclearance is only exempt for trades initiated by the wrap manager. All trades initiated by the employee require preclearance.

  • 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.