Description of Exception. Times Square Each Mortgage Loan is cross-collateralized and cross-defaulted with its related Companion Loan(s), which is/are not included in the Mortgage Pool. In addition, the related Companion Loan(s) is/are secured by the same Mortgaged Property and the same Mortgage securing each Mortgage Loan. 2 Beacon D.C. & Seattle Pool 5 ▇▇▇▇▇ ▇▇▇▇▇▇ Village & Stuyvesant Town With respect to three of the assets in the related portfolio only, the mortgagee does not have a mortgage on the related real property. Instead, the underlying owners of such real property have covenanted to deposit portions of the related cash flow and additional collateral from such real properties into a lockbox.
Appears in 2 contracts
Sources: Mortgage Loan Purchase Agreement (Wachovia Bank Commercial Mortgage Trust Series 2007-C31), Mortgage Loan Purchase Agreement (Wachovia Bank Commercial Mortgage Trust Series 2007-C31)