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For purposes of determining the loan amount to fund a TALF loan secured by a legacy CMBS loan, what is the method to determine the applicable price?

cmbs determine determining fund legacy loan method purposes secured talf
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For purposes of determining the loan amount to fund a TALF loan secured by a legacy CMBS loan, what is the method to determine the applicable price?

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The applicable price will be the lesser of the purchase price on trade date or the market price as of subscription date of the CMBS.

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