Subordinate Companion Loan Holder definition
Examples of Subordinate Companion Loan Holder in a sentence
Any Threshold Event Collateral posted by a Serviced Subordinate Companion Loan Holder shall be held in an outside reserve fund which shall not be an asset of any Trust REMIC, and the party that posted such Threshold Event Collateral shall be the owner of such outside reserve fund, all within the meaning of Treasury Regulations Section 1.860G-2(h).
Any Threshold Event Collateral posted by a Serviced Subordinate Companion Loan Holder shall be held in an outside reserve fund which shall not be an asset of either Trust REMIC, and the party that posted such Threshold Event Collateral shall be the owner of such outside reserve fund, all within the meaning of Treasury Regulations Section 1.860G-2(h).
In addition, notwithstanding anything to the contrary, the Master Servicer or Special Servicer, as applicable, shall deliver reports and notices to the Serviced Subordinate Companion Loan Holder or its representative as required under the related Intercreditor Agreement.
With respect to each AB Whole Loan where the Subordinate Companion Loan Holder or its designee is the related Whole Loan Directing Holder, upon request of such Whole Loan Directing Holder, the Special Servicer shall make a knowledgeable Servicing Officer available via telephone conference during regular business hours to verbally answer questions from such Whole Loan Directing Holder on a Business Day that is reasonably convenient to the Special Servicer and such Whole Loan Directing Holder.
Notwithstanding anything to the contrary contained herein, if and for so long as the related Subordinate Companion Loan Holder is the Whole Loan Directing Holder for the AB Whole Loan or any related REO Property, any successor special servicer with respect to such AB Whole Loan or related REO Property appointed or otherwise designated pursuant to this Section 7.02 shall be subject to the approval of the related Whole Loan Directing Holder as required under the related Co-Lender Agreement.
Notwithstanding anything to the contrary contained herein, if and for so long the related Subordinate Companion Loan Holder is the Whole Loan Directing Holder for the AB Whole Loan or any related REO Property, any successor Special Servicer with respect to such AB Whole Loan or related REO Property appointed or otherwise designated pursuant to this Section 7.02 shall be subject to the approval of the related Whole Loan Directing Holder as required under the related Co-Lender Agreement.
The Flatiron Hotel Subordinate Companion Loan and all amounts attributable thereto will not be an asset of the Trust Fund, the REMIC Pools or the Grantor Trust and will be beneficially owned by the related Serviced Subordinate Companion Loan Holder.
Each of the Master Servicer and Special Servicer acknowledges and agrees that each Subordinate Companion Loan Holder or mezzanine lender or its respective designee has the right to purchase the Mortgage Loan pursuant to the terms and conditions of this Agreement and the related Intercreditor Agreement to the extent provided for therein.
The Subordinate Companion Loan Paying Agent shall maintain a register (the “Subordinate Companion Loan Register”) with respect to each Subordinate Companion Loan on which it will record the names and addresses of, and wire transfer instructions for, the related Subordinate Companion Loan Holders from time to time, to the extent such information is provided in writing to it by each Subordinate Companion Loan Holder.
The Certificate Administrator shall promptly notify the Master Servicer and Special Servicer of any change in the identity and/or contact information of any Subordinate Companion Loan Holder (to the extent it receives written notice of such change).