Common use of Inspections Clause in Contracts

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 2014, or every second (2nd) calendar year beginning in 2015 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 9 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11)

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Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 2014, or every second (2nd) calendar year beginning in 2015 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar not less frequently than once each year beginning commencing in 2015 2022, so long as a Special Servicing Loan Event is not then continuing; provided that the Servicer shall not be required to inspect the Mortgaged Property if the Special Servicer has inspected the Mortgaged Property in the past 12 months. The Special Servicer shall inspect or cause to be inspected the Mortgaged Property, as applicable, and as soon as practicable following the occurrence of a Special Servicing Loan Event and annually for so long as a Special Servicing Loan Event is continuing. The Servicer or the Special Servicer, as applicable, shall further inspect, or cause to be inspected, the Mortgaged Property whenever it receives information that the Mortgaged Property has been materially damaged, left vacant, or abandoned, or if waste is being committed thereto. All such inspections shall be performed in such manner as shall be consistent with Accepted Servicing Practices. The cost of the annual inspections referred to in the first sentence of this paragraph shall be an expense of the Servicer; the cost of all additional inspections referred to in this paragraph shall be a Trust Fund Expense (except to the extent such expense is required to be borne by the Companion Loan Holders pursuant to the terms of the Co-Lender Agreement) and if paid by the Servicer shall constitute a Property Protection Advance. If such amounts are reimbursed from amounts allocable to the Mortgage Loan, the Servicer (with respect to the Whole Loan when it is not a Specially Serviced Whole Loan) or Special Servicer (with respect to a Specially Serviced Whole Loan or Foreclosed Property) will be required, after receiving payment from amounts on deposit in the Collection Account allocable to the Mortgage Loan, if any, to (i) promptly notify the Companion Loan Pair continues Holders and (ii) use efforts consistent with Accepted Servicing Practices to be exercise on behalf of the Trust the rights of the Trust under the Co-Lender Agreement to obtain reimbursement from the Companion Loan Holders for a pro rata portion (based on the CREFC® Servicer Watch List; provided, if outstanding principal balance of the Notes) of such Mortgage Loan or Loan Pair is no longer on amount allocable to the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be requiredCompanion Loans. The Master Servicer or Special Servicer, as the case may be, shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report a written report of inspection and deliver it to the Certificate Administrator (who and the Companion Loan Holders in electronic format. The Certificate Administrator shall promptly upon receipt post it to such report on the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.78.15(b), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 7 contracts

Samples: Trust and Servicing Agreement (Benchmark 2022-B35 Mortgage Trust), Trust and Servicing Agreement (Benchmark 2022-B34 Mortgage Trust), Trust and Servicing Agreement (Morgan Stanley Capital I Trust 2022-L8)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142015, or every second (2nd) calendar year beginning in 2015 2016 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2016 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142005, or every second (2nd) calendar year beginning in 2015 2005 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at the request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2005 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any Sellerthe Primary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2004-Top16), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2004-Top16), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 TOP 17)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142013, or every second (2nd) calendar year beginning in 2015 2013 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® CREFC Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2013 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® CREFC Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® CREFC Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 5 contracts

Samples: Distribution Instructions (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5), Distribution Instructions (Morgan Stanley Capital I Trust 2012-C4), Distribution Instructions (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 2014, or every second (2nd) calendar year beginning in 2015 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2013 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C7), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C8), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C7)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 2014, or every second (2nd) calendar year beginning in 2015 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal 267 Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12), Pooling and Servicing Agreement (COMM 2013-Lc13 Mortgage Trust)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142005 (provided that the Master Servicer shall have until March 2006 to complete any inspections required for the calendar year 2005), or every second (2nd) calendar year beginning in 2015 2005 (provided that the Master Servicer shall have until March 2006 to complete any inspections required for the calendar year 2005), if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2005 (provided that the Master Servicer shall have until March 2006 to complete any inspections required for the calendar year 2005) so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)-190- Underwriters, the Depositor, the Trustee, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 HQ5), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 HQ5), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 HQ5)

Inspections. The Master Primary Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142007, or every second (2nd) calendar year beginning in 2015 2007 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than under $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch ListWatchlist, the Master Servicer shall Primary Servicer, at its own expense, shall, at the request of the Controlling Class Representative, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2007 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® CMSA Servicer Watch List; and provided, further, that Primary Servicer will not be obligated to inspect any particular Mortgaged Property during any one-year or two-year, as applicable, period contemplated above in this sentence, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Special Servicer Watch List at has already done so during that period pursuant to the time the inspection was scheduled, no such inspection shall be requiredPooling and Servicing Agreement. The Master Primary Servicer shall prepare cause to be prepared an Inspection Report Report, in the form set forth in Exhibit H attached hereto, relating to each inspection. The Master Primary Servicer shall promptly forward three (3) copies of the applicable Inspection Report to the Certificate Administrator Master Servicer within twenty (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.420) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder days of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Sellerinspection. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to After a Mortgage Loan that is not becomes a Specially Serviced Mortgage Loan; provided that , the Special Primary Servicer notifies will have no obligations under this Section. However, once a Specially Serviced Mortgage Loan is rehabilitated and becomes a Corrected Mortgage Loan, the Master provisions of this Section 3.14 shall once again apply to the Primary Servicer prior with respect to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) monthsCorrected Mortgage Loan.

Appears in 3 contracts

Samples: Primary Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2006-Pwr13), Primary Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2006-Pwr14), Primary Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 2014, or every second (2nd) calendar year beginning in 2015 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Specially-Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided provided, further, that with respect to any Mortgage Loan (other than a Specially Specially-Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2014 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, provided that if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C10), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11)

Inspections. The Each Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property for which it is acting as Master Servicer, other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142008, or every second (2nd) calendar year beginning in 2015 2008 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than under $2,000,000; provided that the each Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan for which it is acting as Master Servicer (other than a Specially Serviced Mortgage Loan Loan, or Non-Serviced Mortgage Loanif there has not been an inspection within the past six months) that has a Debt Service Coverage Ratio that falls below 1.0x and provided furtheror, that with respect to any Co-op Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage LoanLoans, 0.90x. The foregoing sentence shall not alter the terms of the applicable Special Servicer's obligation to inspect Mortgaged Properties as set forth in Section 9.4(b) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the hereto. The applicable Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare prepared an Inspection Report relating to each inspection. The applicable Inspection Reports shall be available for review by the Trustee, the applicable Special Servicer, the Rating Agencies, the Placement Agent, the Underwriters, the Depositor, the Operating Adviser, any Certificate Owner, any Seller and any Primary Servicer via password protocol and execution of an agreement relating thereto on the General Master Servicer shall promptly forward Servicer's Website. With respect to the NCB, FSB Loans, the applicable Inspection Report to Reports shall be available for review by the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Trustee, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the applicable Special Servicer, solely as it relates to any Loan Pairthe Rating Agencies, to the holder of Placement Agent, the related Serviced Companion LoanUnderwriters, and solely as it relates to any A/B Whole Loanthe Depositor, to the holder of the related B Note, and upon request, to any CertificateholderOperating Adviser, any Certificate Owner Owner, any Seller and any SellerPrimary Servicer via password protocol and execution of an agreement relating thereto on the NCB Master Servicer's Website (which shall be initially located at www.ncb.coop) by the Business Day following the Distribution Date in Xxxxx 0000. The NCB Master Servicer shall, upon request by any of such parties, deliver copies of such documents to any of the foregoing parties if such documents are not available on the NCB Master Servicer's Website at such time. The applicable Special Servicer shall have the right (right, but not the obligation), in its sole discretionno duty, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the such Special Servicer notifies the such Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 3 contracts

Samples: Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2007-Iq13), Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2007-Iq13), Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2007-Iq13)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142015, or every second (2nd) calendar year beginning in 2015 2016 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that that, to the extent the applicable Mortgaged Property has not been inspected within the prior 60 days, the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2016 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142005, or every second (2nd) calendar year beginning in 2015 2005 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2005 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any Sellerthe Primary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 HQ4), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust Series 2004-Top15), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Sec Inc Trust 2004 Top14)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142003, or every second (2nd) calendar year beginning in 2015 2003 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and and; provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall shall, at the expense of the Trust and at request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2003 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any SellerPrimary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Ser 2003 Top9), Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Ser 2003 Top9)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142013, or every second (2nd) calendar year beginning in 2015 2014 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® CREFC Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2013 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® CREFC Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® CREFC Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C6), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C6)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142007, or every second (2nd) calendar year beginning in 2015 2008 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,0002,000,000 (it being understood that such Mortgaged Properies securing a Mortgage Loan or Loan Pair with a Principal Balance of less than $2,000,000 will be inspected in the 2008 calendar year and every second calendar year thereafter); provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at the request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2007 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any Sellerthe Primary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Top23), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2006-Top24)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142004, or every second (2nd) calendar year beginning in 2015 2004 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and and; provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or the Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall shall, at the expense of the Trust and at request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2004 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any the Loan Pair, to the holder of the related Serviced WestShore Plaza Companion Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any SellerPrimary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Ii Inc), Pooling and Servicing Agreement (Bear Stearns Commercial Mort Sec Tru 2003-Top12)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142012, or every second (2nd) calendar year beginning in 2015 2013 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,0002,000,000 (it being understood that such Mortgaged Properties securing a Mortgage Loan or Loan Pair with an Unpaid Principal Balance of less than $2,000,000 will be inspected in the 2013 calendar year and every second (2nd) calendar year thereafter); provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® CREFC Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2012 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® CREFC Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® CREFC Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) 12 months.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2011-C3), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2011-C3)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142005, or every second (2nd) calendar year beginning in 2015 2005 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2005 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 HQ4), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 HQ4)

Inspections. The Each Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property for which it is acting as Master Servicer, other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142007, or every second (2nd) calendar year beginning in 2015 2008 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than under $2,000,000; provided that the each Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan for which it is acting as Master Servicer (other than a Specially Serviced Mortgage Loan Loan, or Non-Serviced Mortgage Loanif there has not been an inspection within the past six months) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect 1.0x. The foregoing sentence shall not alter the terms of the Special Servicer's obligation to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loaninspect Mortgaged Properties as set forth in Section 9.4(b) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the hereto. The applicable Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare prepared an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to Reports shall be available for review by the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period)Trustee, the Special Servicer, solely as it relates to any Loan Pairthe Rating Agencies, to the holder Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser (in the case of the related Serviced Companion Loaninitial Operating Advisor, and solely as it relates to any A/B Whole Loan, to in accordance with the holder of the related B Note, and upon request, to any CertificateholderARCap Naming Convention), any Certificate Owner Owner, any Seller and any SellerPrimary Servicer via password protocol and execution of an agreement relating thereto on the General Master Servicer's Website. With respect to the Prudential Loans, the applicable Inspection Reports shall be available for review by the Trustee, the Special Servicer, the Rating Agencies, the Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser, any Certificate Owner, any Seller and any Primary Servicer via password protocol and execution of an agreement relating thereto on the Prudential Master Servicer's Website. The Special Servicer shall have the right (right, but not the obligation), in its sole discretionno duty, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the such Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Iq12), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Iq12)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 2014, or every second (2nd) calendar year beginning in 2015 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided provided, further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2014 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C8), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C8)

Inspections. The applicable Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 2014, 2006 or every second (2nd) calendar year beginning in 2015 2006, if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the applicable Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the applicable Master Servicer shall shall, at the expense of the Trust and at request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2006 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The applicable Master Servicer shall prepare an Inspection Report relating to each inspection. The applicable Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Trustee, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period)Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, also to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, the Underwriters, the Rating Agencies and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the applicable Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq6), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq6)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142007, or every second (2nd) calendar year beginning in 2015 2007 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at the request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2007 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any Sellerthe Primary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage SecuritiesTrust 2006-Top22)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142008, or every second (2nd) calendar year beginning in 2015 2009 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,0002,000,000 (it being understood that such Mortgaged Properties securing a Mortgage Loan or Loan Pair with a Principal Balance of less than $2,000,000 will be inspected in the 2009 calendar year and every second calendar year thereafter); provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at the request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2008 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any Sellerthe Primary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.-188-

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Top25)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142008, or every second (2nd) calendar year beginning in 2015 2009 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,0002,000,000 (it being understood that such Mortgaged Properties securing a Mortgage Loan or Loan Pair with a Principal Balance of less than $2,000,000 will be inspected in the 2009 calendar year and every second calendar year thereafter); provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at the request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2008 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Placement Agent, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Underwriters, the Trust Advisor (other than during any Subordinate Control Period), the Special ServicerDepositor, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to the Trustee, the Operating Adviser, the Special Servicer, the Rating Agencies, any Certificateholder, any Certificate Owner Owner, any Seller and any SellerPrimary Servicer; provided that, the Master Servicer shall make the applicable Inspection Reports available to the Trustee, the Operating Adviser and the Special Servicer in a downloadable format on the Master Servicer's internet website. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The inspection and provides the Master Servicer is not required with a copy of such inspection promptly following its completion. If the Special Servicer inspects, or causes to inspect be inspected, any Mortgaged Property that has been inspected by for a non-Specially Serviced Mortgage Loan pursuant to the Special Servicer during immediately preceding sentence within the preceding prior twelve (12) monthsmonths and the Master Servicer has no actual knowledge of any material change in the condition of the related Mortgaged Property since the date of the related inspection, the Master Servicer shall not be required to inspect such Mortgaged Property pursuant to this Section 8.17 for a period of up to twelve (12) months after the date of such inspection by the Special Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Hq13)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142006, or every second (2nd) calendar year beginning in 2015 2006 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at the request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2006 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any Sellerthe Primary Servicers. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq7)

Inspections. The Each Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property for which it is acting as Master Servicer, other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142007, or every second (2nd) calendar year beginning in 2015 2008 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than under $2,000,000; provided that the each Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan for which it is acting as Master Servicer (other than a Specially Serviced Mortgage Loan Loan, or Non-Serviced Mortgage Loanif there has not been an inspection within the past six months) that has a Debt Service Coverage Ratio that falls below 1.0x and provided furtheror, that with respect to any Co-op Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage LoanLoans, 0.90x. The foregoing sentence shall not alter the terms of the applicable Special Servicer's obligation to inspect Mortgaged Properties as set forth in Section 9.4(b) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the hereto. The applicable Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare prepared an Inspection Report relating to each inspection. The applicable Inspection Reports shall be available for review by the Trustee, the applicable Special Servicer, the Rating Agencies, the Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser, any Certificate Owner, any Seller and any Primary Servicer via password protocol and execution of an agreement relating thereto on the General Master Servicer shall promptly forward Servicer's Website. With respect to the NCB, FSB Loan and the NCCB Loan, the applicable Inspection Report to Reports shall be available for review by the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Trustee, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)applicable Special Servicer and, upon request, the Trust Advisor (other than during any Subordinate Control Period)Rating Agencies, the Special ServicerPlacement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser, any Seller, any Primary Servicer and, solely as it relates to any a Serviced Loan PairGroup, to the holder of the related Serviced Companion Loan, via password protocol and solely as it relates execution of an agreement relating thereto on the NCB Master Servicer's Website (which shall be initially located at www.ncb.coop) by the Business Day following the Distribution Date in Xxxx 0000. Xhe NCB Master Servicer shall, upon request by any of such parties, deliver copies of such documents to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Sellerforegoing parties if such documents are not available on the NCB Master Servicer's Website at such time. The applicable Special Servicer shall have the right (right, but not the obligation), in its sole discretionno duty, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the such Special Servicer notifies the such Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Iq11)

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Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loansthe 1290 Pari Passu Loan and the Perryville I Corporate Park Office Pari Passu Loan, every calendar year beginning in 20142004, or every second (2nd) calendar year beginning in 2015 2004 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and and; provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall shall, at the expense of the Trust and at request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2004 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any the Loan Pair, to the holder of the related Serviced Federal Center Plaza Companion Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any SellerPrimary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2003-Top10)

Inspections. The Commencing in 2000, the Master Servicer shall, at its own cost and expense, inspect or cause the inspection of each Mortgaged Property at least once every two years (or, if the related Mortgage Loan has a then current balance greater than $2,000,000, or if the long-term debt rating given by a Rating Agency with respect to the Tenant under the related Mortgage Loan has been downgraded by one rating letter grade or below "BB-" or its equivalent, then at the time of such downgrade, and thereafter at least once every year), provided that at least 50% of the Mortgaged Properties (by both number and aggregate Stated Principal Balances of the related Mortgage Loans) 109 will be inspected each Mortgaged Property other than Mortgaged Properties related to year by the Master Servicer (or an entity employed by the Master Servicer for such purpose) or, in accordance with the second succeeding sentence, by the Special Servicer. The Master Servicer shall be responsible for such inspections only in respect of (i) Mortgage Loans that are not Specially Serviced Mortgage Loans and Non-Serviced (ii) Corrected Mortgage Loans. The Special Servicer, every calendar year beginning subject to statutory limitations or limitations set forth in 2014the related Mortgage Loan documents, shall perform or every second (2nd) calendar year beginning in 2015 if cause to be performed a physical inspection of a Mortgaged Property as soon as practicable after the Unpaid Principal Balance servicing of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause transferred thereto pursuant to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage LoanSection 3.21(a) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 annually thereafter so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair it is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that . The Master Servicer and the Special Servicer notifies shall each prepare or cause to be prepared as soon as reasonably possible a written report of each such inspection performed or caused to be performed thereby detailing the condition of the Mortgaged Property and specifying the existence of (i) any vacancy in the Mortgaged Property that is, in the reasonable judgment of the Master Servicer prior to or Special Servicer (or their respective designees), as the case may be, material and is evident from such inspection, (ii) any abandonment of the Mortgaged Property, (iii) any change in the condition or value of the Mortgaged Property that is, in the reasonable judgment of the Master Servicer or Special Servicer (or their respective designees), as the case may be, material and is evident from such inspection, (iv) any waste on or deferred maintenance in respect of the Mortgaged Property that is evident from such inspection or (v) any capital improvements made that are evident from such inspection. The Master Servicer is not required and Special Servicer each shall, within 10 days of the preparation thereof, deliver to inspect the Trustee, the Directing Certificateholder, the Rating Agencies, the Certificate Insurer, each other and, upon request of a Class X, Class B, Class C, Class D, Class E and Class F Certificateholder, such Holder, a copy of (and, upon request by any Mortgaged Property that has been inspected such Person, shall promptly discuss therewith the contents of) each such written report prepared or caused to be prepared by or on behalf of it. Furthermore, the Master Servicer shall obtain (and shall deliver to the requesting party and the Trustee) such additional information with respect to the matters addressed in such written report as the Special Servicer, the Certificate Insurer, and/or the Directing Certificateholder, may reasonably request and shall cooperate with and reasonably assist the Special Servicer in making direct inquiries with any Mortgagor to the extent any such direct inquiry by the Special Servicer during would not violate the terms of any applicable Sub-Servicing Agreement; provided that if the Special Servicer or any such Certificateholder shall desire such an inquiry to be made of a Mortgagor, and if the subject Mortgage Loan is then being primary serviced by a Sub-Servicer, then the Master Servicer shall in each instance (regardless of whether such Mortgage Loan was originated by such Sub-Servicer), unless otherwise agreed by such Sub-Servicer, first request that such Sub-Servicer make such inquiry (and the Master Servicer or the Special Servicer may contact such Mortgagor directly in such instance if such request has been so made to such Sub-Servicer and the requested information has not thereafter been obtained by such Sub-Servicer within a reasonable time). The Trustee shall make available to Certificateholders, Certificate Owners and prospective Certificateholders and Certificate Owners (which prospective Certificateholders and Certificate Owners have been certified to it as such by a Certificateholder or a Certificate Owner), in accordance with Section 8.12(b), copies of all the written reports delivered to it pursuant to this Section 3.12 and, if and to the extent delivered to it in a written or electronic format, the related additional information referred to in the preceding twelve (12) monthssentence. In the absence of actual knowledge that the Master Servicer or the Special Servicer is in default under this Section 3.12, the Trustee shall have no 110 obligation to confirm that inspections of the Mortgaged Properties are being performed in accordance with this Section 3.12.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142006, or every second (2nd) calendar year beginning in 2015 2006 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at the request of the Operating Adviser, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2006 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any SellerPrimary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.189

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Hq8)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142004, or every second (2nd) calendar year beginning in 2015 2004 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and and; provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall shall, at the expense of the Trust and at request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2004 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any SellerPrimary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stan Dean Wit Cap Com Mort Ps THR CRTS Ser 2003-Top13)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142004, or every second (2nd) calendar year beginning in 2015 2004 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and and; provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2004 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agent, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any the Seller. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Capital I Tr 2004-Hq3)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142007, or every second (2nd) calendar year beginning in 2015 2008 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; (it being understood that such Mortgaged Properties securing a Mortgage Loan or Loan Pair with a Principal Balance of less than $2,000,000 will be inspected in the 2008 calendar year and every second calendar year thereafter) provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at the request of the Operating Adviser, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2007 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any SellerPrimary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.ccxii

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Hq10)

Inspections. The Each Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property for which it is acting as Master Servicer, other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142008, or every second (2nd) calendar year beginning in 2015 2008 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than under $2,000,000; provided that the each Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan for which it is acting as Master Servicer (other than a Specially Serviced Mortgage Loan Loan, or Non-Serviced Mortgage Loanif there has not been an inspection within the past six months) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect 1.0x. The foregoing sentence shall not alter the terms of the applicable Special Servicer's obligation to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loaninspect Mortgaged Properties as set forth in Section 9.4(b) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the hereto. The applicable Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare prepared an Inspection Report relating to each inspection. The Master Servicer shall promptly forward With respect to the Mortgage Loans other than the Prudential Loans, the applicable Inspection Report to Reports shall be available for review by the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Trustee, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the General Special Servicer, solely as it relates to any Loan Pairthe Rating Agencies, to the holder Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser (in the case of the related Serviced Companion Loaninitial Operating Advisor, and solely as it relates to any A/B Whole Loan, to in accordance with the holder of the related B Note, and upon request, to any CertificateholderCenterline Naming Convention), any Certificate Owner Owner, any Seller and any SellerPrimary Servicer via password protocol and execution of an agreement relating thereto on the Capmark Master Servicer's Website. With respect to the Prudential Loans, the applicable Inspection Reports shall be available for review by the Trustee, the applicable Special Servicer, the Rating Agencies, the Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser, any Certificate Owner, any Seller and any Primary Servicer via password protocol and execution of an agreement relating thereto on the Prudential Master Servicer's website. The applicable Special Servicer shall have the right (right, but not the obligation), in its sole discretionno duty, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the such Special Servicer notifies the such Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq15)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loansthe Xxxx Xxxxxxx Tower Pari Passu Loan, every calendar year beginning in 20142004, or every second (2nd) calendar year beginning in 2015 2004 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and and; provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall shall, at the expense of the Trust and at request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2004 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any the Loan Pair, to the holder of the related Serviced RSA Companion Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any SellerPrimary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Trust 2003-Top 11)

Inspections. The Each Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property for which it is acting as Master Servicer, other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142008, or every second (2nd) calendar year beginning in 2015 2008 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than under $2,000,000; provided that the each Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan for which it is acting as Master Servicer (other than a Specially Serviced Mortgage Loan Loan, or Non-Serviced Mortgage Loanif there has not been an inspection within the past six months) that has a Debt Service Coverage Ratio that falls below 1.0x and provided furtheror, that with respect to any Co-op Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage LoanLoans, 0.90x. The foregoing sentence shall not alter the terms of the applicable Special Servicer's obligation to inspect Mortgaged Properties as set forth in Section 9.4(b) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the hereto. The applicable Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare prepared an Inspection Report relating to each inspection. The Master Servicer shall promptly forward With respect to the Mortgage Loans other than the RBC Loans, the Nationwide Loans and the NCB, FSB Loans, the applicable Inspection Report to Reports shall be available for review by the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Trustee, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the General Special Servicer, solely as it relates to any Loan Pairthe Rating Agencies, to the holder Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser (in the case of the related Serviced Companion Loaninitial Operating Advisor, and solely as it relates to any A/B Whole Loan, to in accordance with the holder of the related B Note, and upon request, to any CertificateholderCenterline Naming Convention), any Certificate Owner Owner, any Seller and any SellerPrimary Servicer via password protocol and execution of an agreement relating thereto on the Capmark Master Servicer's Website. With respect to the RBC Loans and the Nationwide Loans, the applicable Inspection Reports shall be available for review by the Trustee, the General Special Servicer, the Rating Agencies, the Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser (in the case of the initial Operating Advisor, in accordance with the Centerline Naming Convention), any Certificate Owner, any Seller and any Primary Servicer via password protocol and execution of an agreement relating thereto on the Wells Fargo Master Servicer's Websxxx. With respect to the NCB, FSB Loans, the applicable Inspection Reports shall be available for review by the Trustee, the Co-op Special Servicer, the Rating Agencies, the Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser, any Certificate Owner, any Seller and any Primary Servicer via password protocol and execution of an agreement relating thereto on the NCB Master Servicer's Website (which shall be initially located at www.ncb.coop) by the Business Day xxxxxxxxx xxe Distribution Date in December 2007. The NCB Master Servicer shall, upon request by any of such parties, deliver copies of such documents to any of the foregoing parties if such documents are not available on the NCB Master Servicer's Website at such time. The applicable Special Servicer shall have the right (right, but not the obligation), in its sole discretionno duty, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the such Special Servicer notifies the such Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2007-Iq16)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage LoansLoans and the 633 17th Street B Note, every calendar year beginning in 20142007, or every second (2nd) calendar exxxx xxxxxx xxxxxdar year beginning in 2015 2008 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; (it being understood that such Mortgaged Properties securing a Mortgage Loan or Loan Pair with a Principal Balance of less than $2,000,000 will be inspected in the 2008 calendar year and every second calendar year thereafter) provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at the request of the Operating Adviser, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2007 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any SellerPrimary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006 - HQ9)

Inspections. The Each Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property for which it is acting as Master Servicer, other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142006, or every second (2nd) calendar year beginning in 2015 2007 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than under $2,000,000; provided that the each Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan for which it is acting as Master Servicer (other than a Specially Serviced Mortgage Loan Loan, or Non-Serviced Mortgage Loanif there has not been an inspection within the past six months) that has a Debt Service Coverage Ratio that falls below 1.0x and provided furtheror, that with respect to any Co-op Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage LoanLoans, 0.90x. The foregoing sentence shall not alter the terms of the applicable Special Servicer's obligation to inspect Mortgaged Properties as set forth in Section 9.4(b) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the hereto. The applicable Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare prepared an Inspection Report relating to each inspection. The applicable Inspection Reports shall be available for review by the Trustee, the applicable Special Servicer, the Rating Agencies, the Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser, any Certificate Owner, any Seller and any Primary Servicer via password protocol and execution of an agreement relating thereto on the General Master Servicer shall promptly forward Servicer's Website. With respect to the NCB, FSB Loans, the applicable Inspection Report to Reports shall be available for review by the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Trustee, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)applicable Special Servicer and, the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, the Rating Agencies, the Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser, any Seller and any Primary Servicer via password protocol and execution of an agreement relating thereto on the NCB Master Servicer's Website (which shall be initially located at www.ncb.coop) by the Business Day following the Distribution Date in Xxxxxxxx 0005. The NCB Master Servicer shall, upon request by any of such parties, deliver copies of such documents to any Certificateholder, any Certificate Owner and any Sellerof the foregoing parties if such documents are not available on the NCB Master Servicer's Website at such time. The applicable Special Servicer shall have the right (right, but not the obligation), in its sole discretionno duty, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the such Special Servicer notifies the such Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Agreement (Morgan Stanley Capital I Trust 2005 IQ10)

Inspections. The Master Servicer shallLandlord shall maintain all RHS Program Units and related facilities in decent, safe and sanitary condition. If the LAA schedules an inspection of the RHS Program Units and related facilities, the Landlord shall give proper notice to the Tenant as provided in the Lease to make the RHS Program Unit available to the LAA for the inspection. Further, the Landlord shall provide access to the common areas and grounds of the building to the LAA for such inspection. If the LAA determines in its inspection that a RHS Program Unit does not satisfy the Authority’s housing standards set forth to the Program Requirements, the Landlord shall correct identified deficiencies within thirty (30) days after receipt of notice from the LAA. If such violation is not corrected to the satisfaction of the LAA within such thirty (30) day period, the LAA may declare a default under this Contract; however, if such condition is not reasonably curable within thirty (30) days despite the Landlord’s reasonable and continued efforts to cure, the Landlord may develop a written plan to correct the deficiencies and submit such plan to the LAA. The LAA, at its own expensesole discretion, inspect may grant or cause deny additional days to be inspected each Mortgaged Property other than Mortgaged Properties related cure such deficiencies. Notwithstanding the foregoing, if a deficiency is in an occupied RHS Program Unit and poses a serious threat to Specially Serviced Mortgage Loans the health and Non-Serviced Mortgage Loans, every calendar year beginning in 2014, or every second (2nd) calendar year beginning in 2015 if the Unpaid Principal Balance safety of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch ListTenant, the Master Servicer shall inspect or cause to be inspected Landlord must correct such the related Mortgaged Property every calendar year beginning in 2015 so long as deficiency within seventy-two (72) hours after receipt of notice from the LAA. Any such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if deficiency not cured within such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the seventy-two (72) hour time the inspection was scheduled, no such inspection period shall be requireda default under this Contract. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Loan, and solely as it relates to any A/B Whole Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner and any Seller. The Special Servicer Authority shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at conduct its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) monthsinspection of all RHS Program Units receiving Rental Assistance under this Contract.

Appears in 1 contract

Samples: Rental Assistance Contract

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142008, or every second (2nd) calendar year beginning in 2015 2009 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; (it being understood that such Mortgaged Properties securing a Mortgage Loan or Loan Pair with a Principal Balance of less than $2,000,000 will be inspected in the 2009 calendar year and every second calendar year thereafter) provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at the request of the Operating Adviser, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2008 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Rating Agencies, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period)Placement Agents, the Trust Advisor (other than during any Subordinate Control Period)Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser, the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any SellerPrimary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Hq11)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142006, or every second (2nd) calendar year beginning in 2015 2006 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at the request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2006 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator Rating Agencies, the Placement Agents, the Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser (who shall promptly upon receipt post it or the Lakeforest Mall Mortgage Loan Operating Adviser with respect only to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control PeriodLakeforest Mall Mortgage Loan), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any Sellerthe Primary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.related

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Top20)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property for which it is acting as Master Servicer, other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 201420__, or every second (2nd) calendar year beginning in 2015 20__ if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than under $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan for which it is acting as Master Servicer (other than a Specially Serviced Mortgage Loan Loan, or Non-Serviced Mortgage Loanif there has not been an inspection within the past six months) that has a Debt Service Coverage Ratio that falls below [1.0x and provided furtheror, that with respect to any Co-op Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage LoanLoans, 0.90x]. The foregoing sentence shall not alter the terms of the Special Servicer’s obligation to inspect Mortgaged Properties as set forth in Section 9.4(b) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be requiredhereto. The Master Servicer shall prepare cause to be prepared an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to Reports shall be available for review by the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period)Trustee, the Special Servicer, solely as it relates to any Loan Pairthe Rating Agencies, to the holder of Placement Agent, the related Serviced Companion LoanUnderwriters, and solely as it relates to any A/B Whole Loanthe Depositor, to the holder of Paying Agent, the related B Note, and upon request, to any CertificateholderOperating Adviser, any Certificate Owner Owner, any Seller and any SellerPrimary Servicer via password protocol and execution of an agreement relating thereto on the Master Servicer’s Website. The Special Servicer shall have the right (right, but not the obligation), in its sole discretionno duty, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Distribution Instructions (Morgan Stanley Capital I Inc.)

Inspections. The Each Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property for which it is acting as Master Servicer, other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142006, or every second (2nd) calendar year beginning in 2015 2007 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than under $2,000,000; provided that the each Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan for which it is acting as Master Servicer (other than a Specially Serviced Mortgage Loan Loan, or Non-Serviced Mortgage Loanif there has not been an inspection within the past six months) that has a Debt Service Coverage Ratio that falls below 1.0x and provided furtheror, that with respect to any Co-op Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage LoanLoans, 0.90x. The foregoing sentence shall not alter the terms of the applicable Special Servicer's obligation to inspect Mortgaged Properties as set forth in Section 9.4(b) or Loan Pair that has an Unpaid Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer Watch List, the hereto. The applicable Master Servicer shall inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare prepared an Inspection Report relating to each inspection. The Each Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator (who shall promptly upon receipt post it to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7)Trustee, the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control Period), the applicable Special Servicer, solely as it relates to the Rating Agencies, the Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser, any Loan PairCertificate Owner, any Seller and any Primary Servicer. With respect to the holder of NCB, FSB Loans, the related Serviced Companion Loanapplicable Inspection Reports shall be available for review by the Trustee, and solely as it relates to any A/B Whole Loanthe applicable Special Servicer and, to the holder of the related B Note, and upon request, the Rating Agencies, the Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser, any Seller and any Primary Servicer via password protocol and execution of an agreement relating thereto on the NCB Master Servicer's Website (which shall be initially located at www.ncb.coop) by the Business Day following the Distribution Date in Xxxxx 0000. The NCB Master Servicer shall, upon request by any of such parties, deliver copies of such documents to any Certificateholder, any Certificate Owner and any Sellerof the foregoing parties if such documents are not available on the NCB Master Servicer's Website at such time. The applicable Special Servicer shall have the right (right, but not the obligation), in its sole discretionno duty, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the such Special Servicer notifies the such Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 IQ9)

Inspections. The Master Servicer shall, at its own expense, inspect or cause to be inspected each Mortgaged Property other than Mortgaged Properties related to Specially Serviced Mortgage Loans and Non-Serviced Mortgage Loans, every calendar year beginning in 20142006, or every second (2nd) calendar year beginning in 2015 2006 if the Unpaid Principal Balance of the related Mortgage Loan or Loan Pair is less than $2,000,000; provided that the Master Servicer shall, at the expense of the Trust, inspect or cause to be inspected each Mortgaged Property related to a Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) that has a Debt Service Coverage Ratio that falls below 1.0x and provided further, that with respect to any Mortgage Loan (other than a Specially Serviced Mortgage Loan or Non-Serviced Mortgage Loan) or Loan Pair that has an Unpaid a Principal Balance of less than $2,000,000 and has been placed on the CREFC® Servicer CMSA Watch List, the Master Servicer shall shall, at the expense of the Trust and at the request of the Controlling Class, inspect or cause to be inspected the related Mortgaged Property every calendar year beginning in 2015 2006 so long as such Mortgage Loan or Loan Pair continues to be on the CREFC® Servicer CMSA Watch List; provided, if such Mortgage Loan or Loan Pair is no longer on the CREFC® Servicer CMSA Watch List at the time the inspection was scheduled, no such inspection shall be required. The Master Servicer shall prepare an Inspection Report relating to each inspection. The Master Servicer shall promptly forward the applicable Inspection Report to the Certificate Administrator Rating Agencies, the Placement Agents, the Underwriters, the Depositor, the Trustee, the Paying Agent, the Operating Adviser (who shall promptly upon receipt post it or the Monmouth Mall Mortgage Loan Operating Adviser with respect only to the Certificate Administrator’s Website pursuant to Section 5.4) and the 17g-5 Information Provider (who shall promptly upon receipt post it to the 17g-5 Information Provider’s Website pursuant to Section 5.7), the Controlling Class Representative (during any Subordinate Control Period and any Collective Consultation Period), the Trust Advisor (other than during any Subordinate Control PeriodMonmouth Mall Mortgage Loan), the Special Servicer, solely as it relates to any Loan Pair, to the holder of the related Serviced Companion Mortgage Loan, and solely as it relates to any A/B Whole Mortgage Loan, to the holder of the related B Note, and upon request, to any Certificateholder, any Certificate Owner Owner, any Seller and any Sellerthe Primary Servicer. The Special Servicer shall have the right (but not the obligation), in its sole discretion, to inspect or cause to be inspected (at its own expense) every calendar year any Mortgaged Property related to a Mortgage Loan that is not a Specially Serviced Mortgage Loan; , provided that the Special Servicer notifies the Master Servicer prior to such inspection. The Master Servicer is not required to inspect any Mortgaged Property that has been inspected by the Special Servicer during the preceding twelve (12) months.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2006-Top21)

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