Defeasance Lockout Date definition

Defeasance Lockout Date means the date that is two (2) years from the “startup day” within the meaning of Section 860G(a)(9) of the Code of the final REMIC Trust created that holds either Note A-1 or Note A-2.
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Defeasance Lockout Date means the earlier of (a) the fourth (4th) anniversary of the date hereof and (b) the Prepayment Lockout Date.
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Defeasance Lockout Date means earlier to occur of (i) the fourth anniversary of the Closing Date and (ii) the date that is two (2) years from the “startup day” (within the meaning of the REMIC Requirements) of the REMIC Trust established in connection with the last Securitization involving any portion of or interest in the Loan.
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Examples of Defeasance Lockout Date in a sentence

  • Provided no Event of Default shall then exist, from and after the earlier to occur, (i) the Defeasance Lockout Date, or (ii) the Permitted Release Date, and upon not less than thirty (30) days’ prior written notice to Lender, Borrower may prepay the Loan in whole, or in part (“Prepayment”), provided such Prepayment is made concurrently with a Defeasance Event and the release of the Properties or Individual Property in accordance with the Senior Loan Documents.

  • If the Permitted Release Date has occurred, but the Defeasance Lockout Date has not occurred, the Debt may be prepaid in whole (but not in part) prior to the date permitted under Section 2.4.1 hereof upon not less than thirty (30) days’ prior notice to Lender specifying the Payment Date on which prepayment is to be made (a “Prepayment Date”) provided no Event of Default exists and upon payment of an amount equal to the Yield Maintenance Premium.

Related to Defeasance Lockout Date

  • Defeasance Loan Those Mortgage Loans which provide the related Mortgagor with the option to defease the related Mortgaged Property.

  • Defeasance Date shall have the meaning set forth in Section 2.4.1(a)(i) hereof.

  • Defeasance Period is defined in the Note, if applicable.

  • Defeasance Event shall have the meaning set forth in Section 2.5.1(a).

  • Defeasance Collateral means: (i) a ▇▇▇▇▇▇▇ Mac Debt Security, (ii) a ▇▇▇▇▇▇ Mae Debt Security, (iii) U.S. Treasury Obligations, or (iv) FHLB Obligations.