Specially Serviced Loan definition

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 (taking into account any cure rights of any related Serviced Subordinate Companion Loan Holder under the related Co-Lender Agreement.):

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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 Serviced Loan. As defined in Section 3.01(a).

Examples of Specially Serviced Loan in a sentence

Each Mortgage Loan or any related Serviced Companion Loan that becomes a Specially Serviced Loan shall continue as such until satisfaction of the conditions specified in Section 3.19(a).
Additionally, upon request, the Special Servicer shall consult with the Risk Retention Consultation Party on a non-binding basis (provided, that prior to the occurrence and continuance of a Consultation Termination Event, the related Mortgage Loan must also be a Specially Serviced Loan) in connection with any Major Decision not relating to an Excluded Loan and consider alternative actions recommended by the Risk Retention Consultation Party in respect thereof.
The Special Servicing Fee with respect to any Specially Serviced Loan or REO Loan shall cease to accrue if a Liquidation Event occurs with respect to the related Mortgage Loan.
If the Master Servicer (with respect to a Non-Specially Serviced Loan) or the Special Servicer (with respect to a Specially Serviced Loan) determines in accordance with the Servicing Standard that such failure is not an Acceptable Insurance Default, the Special Servicer (with regard to such determination made by the Special Servicer) shall notify the Master Servicer and the Master Servicer shall use efforts consistent with the Servicing Standard to cause such insurance to be maintained.
In respect of any Mortgage Loan other than an Excluded Loan that is a Specially Serviced Loan and prior to the occurrence and continuance of a Consultation Termination Event, the Master Servicer shall deliver or make available a copy of each such report to the Directing Certificateholder and upon request to each Controlling Class Certificateholder (which request may state that such items may be delivered until further notice).

More Definitions of Specially Serviced Loan

Specially Serviced Loan shall have the meaning assigned to the term “specially serviced loan” or “specially serviced mortgage loan” in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

Specially Serviced Loan shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

Specially Serviced Loan shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or such other analogous term used in the Lead Securitization Servicing Agreement.

Specially Serviced Loan. The Whole Loan during the occurrence of a Special Servicing Loan Event.

Specially Serviced Loan. (other than by reason of a Liquidation Event occurring in respect of such Serviced Loan or a related Mortgaged Property becoming an REO Property).

Specially Serviced Loan. Any Serviced Loan as to which there then exists a Servicing Transfer Event. Upon the occurrence of a Servicing Transfer Event with respect to any Serviced Loan, such Serviced Loan shall remain a Specially Serviced Loan until the earliest of (i) its removal from the Trust Fund (in the case of a Mortgage Loan), (ii) a REO Acquisition with respect to the related Mortgaged Property and (iii) the cessation of all existing Servicing Transfer Events with respect to such Serviced Loan.

Specially Serviced Loan. Any Serviced Loan for which a Special Servicing Transfer Event has occurred and such Specially Serviced Loan has not become a Corrected Loan.