Examples of Split Mortgage Loan in a sentence
In connection therewith: (a) the 200 Park Avenue Mortgage Loan and the Courtyard by Marriott Portfolio Mortgage Loan are sometimes referred to as the "Split Mortgage Loans"; (b) the respective Pooled Components of the Split Mortgage Loans are sometimes referred to as the "Split Mortgage Loan Pooled Components"; and (c) the respective Non-Pooled Components of the Split Mortgage Loans are sometimes referred to as the "Split Mortgage Loan Non-Pooled Components".
Any transfer of the Mortgage Loans, except in the case of Split Mortgage Loans (other than the Oakmonte Senior Portion), pursuant to this paragraph shall be on a servicing-released basis; and, if any Mortgage Loan (other than the Oakmonte Senior Portion) purchased pursuant to this Section 9.01 is a Split Mortgage Loan, the release, endorsement or assignment of the documents constituting the related Mortgage File and Servicing File shall be in the manner contemplated by Section 3.25.
Such assignment includes all interest and principal received or receivable on or with respect to the Mortgage Loans and the Oakmonte Junior Portion and due after the Cut-off Date and, in the case of each Split Mortgage Loan other than the Oakmonte Senior Portion, is subject to the related Loan Pair Co-Lender Agreement.
For purposes of the preceding sentence Appraisal Reduction Amounts with respect to a Loan Pair (including the Oakmonte Apartment Homes Whole Loan) shall be applied first to the related Companion Loan and then to the related Split Mortgage Loan.
In the case of a Mortgage Loan that becomes a Split Mortgage Loan or a Modified Mortgage Loan, for the purposes of determining the interest amount payable in respect of such Mortgage Loan, the Current Balance of such Mortgage Loan will be deemed to be reduced by the principal balance of the related Warehoused Mortgage Account.