Successor Property Manager definition

Successor Property Manager. As defined in Section 6.02.
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Successor Property Manager. Any Independent Contractor as selected or retained by the Special Servicer, on behalf of the Trust, to serve as manager of the Foreclosed Property, which designation, as evidenced by a Rating Agency Confirmation from the Rating Agency, will not result in the downgrade, withdrawal or qualification of the ratings assigned to the Certificates or any Companion Loan Securities by the Rating Agency.
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Successor Property Manager. As defined in Section 6.01(b). “Successor Replacement Date ”: As defined in Section 6.01(b). “Successor Special Servicer ”: As defined in Section 6.01(b) . “Support Provider ”: Spirit Realty or any successor support provider. “Support Provider SPE ”: Any special purpose, bankruptcy remote subsidiary (direct or indirect) of the Support Provider. 31 US-DOCS\ 96557504.7 102826315.7
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Examples of Successor Property Manager in a sentence

  • Subject to the foregoing, any person, including any holder of Notes or Issuer Interests or any Affiliate thereof, may be appointed as the Successor Property Manager or Successor Special Servicer.

  • In addition, if the Back-Up Manager, as Property Manager, or Special Servicer makes any Advances or incurs any other expenses in accordance with the terms and provisions of this Agreement, any Successor Property Manager will be required to reimburse the Back-Up Manager, as predecessor Property Manager or predecessor Special Servicer, for such Advances and other expenses incurred in accordance with the terms and provisions of this Agreement as a condition to its appointment as successor Property Manager.

  • If the Trust Fund acquires the Foreclosed Property, the Special Servicer, acting on behalf of the Trustee, if the Manager would not be considered an Independent Contractor, shall either renegotiate the applicable Management Agreement or replace the Property Manager with a Successor Property Manager (as appropriate and to the extent permitted under such Management Agreement) so that the Foreclosed Property would be considered to be operated by an Independent Contractor.

  • In connection with such management and subject to Section 3.4(c)(vi), the Successor Property Manager shall be entitled to the REO Management Fee solely from the Foreclosed Property Account or the Collection Account pursuant to Section 3.4(c)(vi)).

  • If the Back-Up Manager has made any Advances that the Property Manager was required to make but did not make which have not been reimbursed, any Successor Property Manager (other than the Back-Up Manager) will be required to reimburse the Back-Up Manager for such Advances as a condition to its appointment as successor (and any amount so reimbursed will be deemed to constitute Advances made by the Successor Property Manager).

  • With the start of the third project year, we will also start developing these modules and hope that they are ready for widespread implementation in December.

  • Any such Property Protection Advance made by the Back-Up Manager or the Indenture Trustee shall thereafter be reimbursable to the such Indenture Trustee or Back-Up Manager, together with Advance Interest thereon, in accordance Section 2.11 of the Indenture or from any Successor Property Manager.

  • Any such Property Protection Advance made by the Back-Up Manager shall be deemed made by the Back-Up Manager in its capacity as successor to the Property Manager and shall thereafter be reimbursable to the Back-Up Manager, together with Advance Interest thereon, in accordance with Section 3.05 and Section 2.11 of the Indenture or from any Successor Property Manager.

  • Any such Property Protection Advance made by the Back-Up Manager shall be deemed made by the Back-Up Manager in its capacity as successor to the Property Manager and shall thereafter be reimbursable to the Back-Up Manager, together with Advance Interest thereon, in accordance with Section 3.05 of this Agreement and Section 2.11 of the Indenture or from any Successor Property Manager.

  • Subject to the foregoing, any person, including any Lender or any Affiliate thereof, may be appointed as the Successor Property Manager or Successor Special Servicer.

Related to Successor Property Manager

  • Successor Property Trustee has the meaning specified in Section 6.6(b).

  • Successor Master Servicer The meaning ascribed to such term pursuant to Section 8.02.

  • Property Manager means an entity that has been retained to perform and carry out at one or more of the Properties property-management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property.

  • Property management means leasing or renting, or offering to lease or rent, real property of others for a fee, commission, compensation, or other valuable consideration pursuant to a property management employment contract.

  • Permitted Special Servicer/Affiliate Fees Any commercially reasonable treasury management fees, banking fees, title insurance and/or other insurance commissions and fees, title agency fees, and appraisal review fees received or retained by the Special Servicer or any of its Affiliates in connection with any services performed by such party with respect to any Serviced Loan or REO Property, in each case, in accordance with Article III of this Agreement.

  • Successor Landlord shall have the meaning given such term in Section 20.2.

  • Successor Manager Any Independent Contractor as selected or retained by the Special Servicer, on behalf of the Trustee for the benefit of the Trust and the Companion Loan Holders, to serve as manager of a Foreclosed Property, which designation, as evidenced by written confirmation from each Rating Agency, shall not result in the downgrade, withdrawal or qualification of the ratings assigned to the Certificates by such Rating Agency.

  • Operator means the operator of an internet website, online service, online application, or mobile application with actual knowledge that the site, service, or application is used for K–12 school purposes. Any entity that operates an internet website, online service, online application, or mobile application that has entered into a signed, written agreement with an LEA to provide a service to that LEA shall be considered an “operator” for the purposes of this section.

  • Operating Property means any property owned, leased, or operated by the Party in question or by any of its Subsidiaries or in which such Party or Subsidiary holds a security interest or other interest (including an interest in a fiduciary capacity), and, where required by the context, includes the owner or operator of such property, but only with respect to such property.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Successor Parent with respect to any Person, means any other Person with more than 50% of the total voting power of the Voting Stock which is, at the time the first Person becomes a Subsidiary of such other Person, “beneficially owned” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act) by one or more Persons that “beneficially owned” (as so defined) more than 50% of the total voting power of the Voting Stock of the first Person immediately prior to the first Person becoming a Subsidiary of such other Person.

  • Water Service Connection means the pipes and fixtures used for the purpose of supplying any premises in the Municipality with water from the Corporation’s water works that is located between the Corporation’s watermain in the street and the street property line abutting the premises so supplied.

  • Property Management Agreement means that certain management agreement between the Company and the Property Manager with respect to the management of the Property.

  • Successor Holdings has the meaning assigned to such term in Section 6.03(a)(v).

  • Chesapeake Bay Preservation Act land-disturbing activity means a land-disturbing activity including clearing, grading, or excavation that results in a land disturbance equal to or greater than 2,500 square feet and less than one acre in all areas of jurisdictions designated as subject to the Chesapeake Bay Preservation Area Designation and Management Regulations (9VAC25-830) adopted pursuant to the Chesapeake Bay Preservation Act.

  • Non-Residential Property means all Assessor’s Parcels of Developed Property for which a building permit(s) was issued for a non-residential use.

  • Other Special Servicer The applicable other “special servicer” under an Other Pooling and Servicing Agreement relating to a Serviced Companion Loan.

  • Contractor-acquired property means property acquired, fabricated, or otherwise provided by the Contractor for performing a contract, and to which the Government has title.

  • Residential property means improved property that:-

  • Outside Special Servicer With respect to an Outside Serviced Mortgage Loan, the special servicer under the applicable Outside Servicing Agreement.

  • Replacement Energy means Energy purchased by Buyer as replacement for any Delivery Shortfall.

  • Hotel means any establishment used for the purpose of temporary, overnight lodging for which a fee is paid and reservations are required.

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Other Master Servicer means the applicable other “master servicer” under an Other Companion Loan Pooling and Servicing Agreement relating to a Non-Serviced Companion Loan or a Serviced Companion Loan, as applicable.

  • Successor Borrower has the meaning assigned to such term in Section 6.07(a).

  • tour operator means, with the exception of an air carrier, an organiser within the meaning of Article 2, point 2, of Council Directive 90/314/EEC of 13 June 1990 on package travel, package holidays and package tours (2);