Examples of Supplemental Collateral in a sentence
Each of the Primary Servicer and the Master Servicer is entitled to reimbursement of Servicing Advances made by it from collections received from the related Borrower or otherwise with respect to the related Mortgage Loan and Mortgaged Property or Supplemental Collateral, including interest on such Servicing Advances to the extent that interest on the amounts advanced is collected from the Borrower pursuant to the Mortgage Documents.
MALA: A multiple asset lending arrangement with one or more primary obligors (which may include Borrowers) consisting of one or more loans (which may be funded as separate advances at different times) secured by one or more Mortgages on Multifamily Properties, Defeasance Securities or Supplemental Collateral pursuant to which (i) all liens secure all outstanding loans, and (ii) a default under any such loan constitutes a default under all such loans.
An agreement under which Supplemental Collateral may be pledged, transferred, or otherwise provided to secure the Borrower’s obligations under a Mortgage Loan, and which may include a cash collateral agreement, achievement agreement, replacement reserve and security agreement, loan agreement, completion/repair and security agreement, or other contractual arrangement.
Each Servicing Contract will require that the related Primary Servicer will become obligated to the related Trust to pay to the Trustee (or as otherwise directed in this Trust Agreement) any principal and interest (to the extent of the Pass-Through Rate) received from or paid on behalf of a Borrower or otherwise realized on a Mortgage Loan, Mortgaged Property, Defeasance Securities or Supplemental Collateral.