Priority of Notes. Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 and Note A-4 shall be of equal priority, and no portion of any of Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 4 contracts
Samples: Co Lender Agreement (JPMDB Commercial Mortgage Securities Trust 2017-C5), Co Lender Agreement (CD 2017-Cd3 Mortgage Trust), Co Lender Agreement (CD 2016-Cd2 Mortgage Trust)
Priority of Notes. Note A-1-A, Note A-1-B1, Note A-1-B2, Note A-2-1A, Note A-2-2B, Note A-3-1, Note A-3-2, Note A-3-3 A-3 and Note A-4 shall be of equal priority, and no portion of any of Note A-1-A, Note A-2A-1-1B1, Note A-2A-1-2B2, Note A-3X-0-1X, Note A-3Xxxx X-0-2X, Note A-3-3 Xxxx X-0 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1-A, Note A-2A-1-1B1, Note A-2A-1-2B2, Note A-3X-0-1X, Note A-3Xxxx X-0-2X, Note A-3-3 Xxxx X-0 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-1-B1, Note A-1-B2 Note A-2-1A, Note A-2-2B, Note A-3-1, Note A-3-2, Note A-3-3 A-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to Note A-2A-1-1B1, Note A-2A-1-2B2, Note A-3X-0-1X, Note A-3Xxxx X-0-2X, Note A-3-3 Xxxx X-0, or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 4 contracts
Samples: Lender Agreement (CD 2016-Cd1 Mortgage Trust), Lender Agreement (COMM 2016-Dc2 Mortgage Trust), Lender Agreement (CD 2016-Cd2 Mortgage Trust)
Priority of Notes. Note A-1X-0, Xxxx X-0-0, Xxxx X-0-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2A-5, Note A-3-1A-6, Note A-3-2, Note A-3-3 A-7 and Note A-4 A-8 shall be of equal priority, and no portion of any of Note A-1X-0, Xxxx X-0-0, Xxxx X-0-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2A-5, Note A-3-1A-6, Note A-3-2, Note A-3-3 A-7 or Note A-4 A-8 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1, Note A-2-1, Note A-2-2, Note A-3-1X-0, Xxxx X-0, Xxxx X-0, Note A-3-2A-6, Note A-3-3 A-7 and Note A-4 A-8 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as any of Note A-2-1, 1 or Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 2 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectivelyany such note not in a securitization, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 4 contracts
Samples: Co Lender Agreement (CFCRE 2016-C4 Mortgage Trust), Co Lender Agreement (CFCRE 2016-C6 Mortgage Trust), Co Lender Agreement (Citigroup Commercial Mortgage Trust 2016-C1)
Priority of Notes. Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-2X-0, Xxxx X-0, Xxxx X-0, Note A-3-1A-10, Note A-3-211, Note A-3-3 A-12 and Note A-4 A-13 shall be of equal priority, and no portion of any of Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-2X-0, Xxxx X-0, Xxxx X-0, Note A-3-1A-10, Note A-3-211, Note A-3-3 or A-12 and Note A-4 A-13 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to each Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to such Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 4 contracts
Samples: Lender and Future Funding Indemnification Agreement (Citigroup Commercial Mortgage Trust 2017-P7), Lender and Future Funding Indemnification Agreement (CSMC 2016-NXSR Commercial Mortgage Trust), Lender and Future Funding Indemnification Agreement (Morgan Stanley Capital I Trust 2016-Ubs12)
Priority of Notes. Note A-1-1, Note A-1-2, Note A-2-1, Note A-2-2. Note, A-2-3, Note A-3-1, Note A-3-2, Note A-3-3 A-3 and Note A-4 shall be of equal priority, and no portion of any of Note A-1-1, Note A-1-2, Note A-2-1, Note A-2-2, Note A-3A-2-13, Note A-3-2, Note A-3-3 A-3 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1-1, Note A-1-2, Note A-2-1, Note A-2-2, Note A-3A-2-13, Note A-3-2, Note A-3-3 A-3 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-1-2, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3A-2-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that is not included in a Securitization that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 3 contracts
Samples: Co Lender Agreement (Benchmark 2019-B9 Mortgage Trust), Lender Agreement (UBS Commercial Mortgage Trust 2018-C15), Lender Agreement (Benchmark 2018-B8 Mortgage Trust)
Priority of Notes. Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1A, Note A-3-2, Note A-3-3 B and Note A-4 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1A, Note A-3-2, Note A-3-3 B or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1A, Note A-3-2, Note A-3-3 B and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as any of Note A-2-1, Note A-2-2, Note A-3-1A, Note A-3-2, Note A-3-3 B or Note A-4 is not included in a Securitization, any Penalty Charges allocated to any such Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that is not in a securitization that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 3 contracts
Samples: Co Lender Agreement (COMM 2016-Cor1 Mortgage Trust), Co Lender Agreement (DBJPM 2016-C1 Mortgage Trust), Co Lender Agreement (JPMCC Commercial Mortgage Securities Trust 2016-Jp2)
Priority of Notes. Note A-1-A, Note A-2A-1-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 B and Note A-4 A-2 shall be of equal priority, and no portion of any of Note A-1-A, Note A-2A-1-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 B or Note A-4 A-2 shall have priority or preference over any portion of the other Note Notes or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1-A, Note A-2A-1-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 B and Note A-4 A-2 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to such Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 3 contracts
Samples: Lender Agreement (UBS Commercial Mortgage Trust 2017-C7), Lender Agreement (UBS Commercial Mortgage Trust 2017-C6), Lender Agreement (Wells Fargo Commercial Mortgage Trust 2017-C41)
Priority of Notes. Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-3 is not included in a Securitization, any Penalty Charges allocated to such Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectivelythat is not included in a Securitization, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 3 contracts
Samples: Co Lender Agreement (CD 2017-Cd6 Mortgage Trust), Co Lender Agreement (JPMDB Commercial Mortgage Securities Trust 2017-C7), Co Lender Agreement (Bank 2017-Bnk7)
Priority of Notes. Note A-1-A, Note A-2A-1-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 B and Note A-4 A-2 shall be of equal priority, and no portion of any of Note A-1-A, Note A-2A-1-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 B or Note A-4 A-2 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1-A, Note A-2A-1-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 B and Note A-4 A-2 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2A-1-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A or Note A-4 A-1-B is not included in a Securitization, any Penalty Charges allocated to any such Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectivelynot in a securitization, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 3 contracts
Samples: Lender Agreement (UBS Commercial Mortgage Trust 2017-C6), Co Lender Agreement (CCUBS Commercial Mortgage Trust 2017-C1), Co Lender Agreement (Citigroup Commercial Mortgage Trust 2017-C4)
Priority of Notes. Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 shall be of equal priority, and no portion of any of Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 or Note A-4 A-5 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Note A-2Xxxx X-0-10, Note A-2Xxxx X-0-20, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1A-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 2 or Note A-4A-4 is not included in a Securitization, respectively, any Penalty Charges allocated to any Note that is not included in a Securitization that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 3 contracts
Samples: Lender Agreement (Benchmark 2018-B8 Mortgage Trust), Lender Agreement (BBCMS Mortgage Trust 2018-C2), Lender Agreement (DBGS 2018-C1 Mortgage Trust)
Priority of Notes. Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2A-4-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 1 and Note A-4 A-4-2 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3A-4-2, Note A-3-3 1 or Note A-4 A-4-2 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2A-4-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 1 and Note A-4 A-4-2 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2A-4-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 2 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1, Note A-2A-4-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 3 contracts
Samples: Co Lender Agreement (SG Commercial Mortgage Securities Trust 2016-C5), Co Lender Agreement (CFCRE 2016-C3 Mortgage Trust), Co Lender Agreement (CFCRE 2016-C4 Mortgage Trust)
Priority of Notes. Note A-1-A, Note A-2-1, Note A-2-2, A and Note A-3-1, Note A-3-2, Note A-3-3 and Note A-4 A shall be of equal priority, and no portion of any of Note A-1-A, Note A-2-1, Note A-2-2, A or Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 A shall have priority or preference over any portion of the other Note Notes or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1-A, Note A-2-1, Note A-2-2, A and Note A-3-1, Note A-3-2, Note A-3-3 and Note A-4 A on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to such Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 3 contracts
Samples: Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2020-C55), Co Lender Agreement (UBS Commercial Mortgage Trust 2019-C18), Co Lender Agreement (Citigroup Commercial Mortgage Trust 2019-C7)
Priority of Notes. Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 A-4 or Note A-4 A-5 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to the Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1X-0, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-5 is not included in a Securitization, any Penalty Charges allocated to such Note A-2-1X-0, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4, respectively, A-5 that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 3 contracts
Samples: Co Lender Agreement (Citigroup Commercial Mortgage Trust 2017-P7), Co Lender Agreement (CSMC 2016-NXSR Commercial Mortgage Trust), Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2016-Nxs6)
Priority of Notes. Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 A-1 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, A-1 that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 3 contracts
Samples: Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2016-C37), Co Lender Agreement (JPMCC Commercial Mortgage Securities Trust 2016-Jp4), Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2016-Lc24)
Priority of Notes. Note A-1A-0, Xxxx X-0 xnd Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 and Note A-4 A-3 shall be of equal priority, and no portion of any of Note A-1A-0, Xxxx X-0 xr Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 A-3 shall have priority or preference over any portion of the other Note Notes or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1A-0, Xxxx X-0 xnd Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 and Note A-4 A-3 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to such Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Co Lender Agreement (UBS Commercial Mortgage Trust 2018-C12), Co Lender Agreement (CSAIL 2018-Cx12 Commercial Mortgage Trust)
Priority of Notes. Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower Borrowers or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 A-2 is not included in a Securitization, any Penalty Charges allocated to any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that is not included in a Securitization that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Co Lender Agreement (CD 2017-Cd6 Mortgage Trust), Co Lender Agreement (JPMDB Commercial Mortgage Securities Trust 2017-C7)
Priority of Notes. Note A-1X-0, Xxxx X-0-0, Xxxx X-0-0, Xxxx X-0, Note A-2A-4, Note A-5-1, Note A-2A-5-2, Note A-3-1, Note A-3-2, Note A-3-3 2 and Note A-4 A-6 shall be of equal priority, and no portion of any of Note A-1X-0, Xxxx X-0-0, Xxxx X-0-0, Xxxx X-0, Note A-2A-4, Note A-5-1, Note A-2A-5-2, Note A-3-1, Note A-3-2, Note A-3-3 2 or Note A-4 A-6 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Xxxx X-0-0, Xxxx X-0-0, Xxxx X-0, Note A-2A-4, Note A-5-1, Note A-2A-5-2, Note A-3-1, Note A-3-2, Note A-3-3 2 and Note A-4 A-6 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1, any of Note A-2-2, Note A-3A-4, Note A-5-1, Note A-3A-5-2, Note A-3-3 2 or Note A-4 A-6 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectivelyany such note not in a securitization, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Co Lender Agreement (Citigroup Commercial Mortgage Trust 2016-Gc37), Co Lender Agreement (DBJPM 2016-C1 Mortgage Trust)
Priority of Notes. Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2A-4-1A, Note A-2X-0-2X, Xxxx X-0, Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 A-7 and Note A-4 A-8, shall be of equal priority, and no portion of any of Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2A-4-1A, Note A-2A-4-2B, Note A-3-1A-5, Note A-3-2A-6, Note A-3-3 A-7 or Note A-4 A-8 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2A-4-1A, Note A-2X-0-2X, Xxxx X-0, Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 A-7 and Note A-4 A-8 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1X-0, Xxxx X-0, Note A-2A-4-2A, Note A-3-1, A-7 and Note A-3-2, Note A-3-3 or Note A-4 is A-8 are not included in a Securitization, any Penalty Charges allocated to any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that is not in a securitization that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Co Lender Agreement (JPMDB Commercial Mortgage Securities Trust 2017-C5), Co Lender Agreement (CD 2017-Cd3 Mortgage Trust)
Priority of Notes. Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2A-5, Note A-3-1A-6, Note A-3-2, Note A-3-3 A-7 and Note A-4 A-8 shall be of equal priority, and no portion of any of Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2A-5, Note A-3-1A-6, Note A-3-2, Note A-3-3 A-7 or Note A-4 A-8 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2A-5, Note A-3-1A-6, Note A-3-2, Note A-3-3 A-7 and Note A-4 A-8 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as any of Note A-2-1X-0, Xxxx X-0, Note A-2-2A-6, Note A-3-1, Note A-3-2, Note A-3-3 A-7 or Note A-4 A-8 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectivelyany such note not in a securitization, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Co Lender Agreement (Citigroup Commercial Mortgage Trust 2016-C1), Co Lender Agreement (CFCRE 2016-C4 Mortgage Trust)
Priority of Notes. Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1X-0, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Co Lender Agreement (COMM 2016-Ccre28 Mortgage Trust), Co Lender Agreement (CFCRE 2016-C3 Mortgage Trust)
Priority of Notes. Note A-1A-0, Xxxx X-0, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 shall be of equal priority, and no portion of any of Note A-1A-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 A-4 or Note A-4 A-5 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to the Note A-1A-0, Xxxx X-0, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1A-0, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-5 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1A-0, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4, respectively, A-5 that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2016-Nxs5), Lender Agreement (Wells Fargo Commercial Mortgage Trust 2015-Nxs4)
Priority of Notes. Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that is not in a securitization that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Lender Agreement (CD 2017-Cd4 Mortgage Trust), Lender Agreement (JPMDB Commercial Mortgage Securities Trust 2017-C5)
Priority of Notes. Note A-1, Note A-2-1, 1 and Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 and Note A-4 2 shall be of equal priority, and no portion of any of Note A-1, Note A-2-1, 1 or Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 2 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1, Note A-2-1, 1 and Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 and Note A-4 2 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1, 1 or Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 2 is not included in a Securitization, any Penalty Charges allocated to any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that is not included in a Securitization that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Co Lender Agreement (DBGS 2018-C1 Mortgage Trust), Lender Agreement (Benchmark 2018-B6 Mortgage Trust)
Priority of Notes. Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1A, Note A-3-2B, Note A-3A-4-3 A and Note A-4 A-4-B shall be of equal priority, and no portion of any of Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1A, Note A-3-2B, Note A-3A-4-3 A or Note A-4 A-4-B shall have priority or preference over any portion of the any other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1A, Note A-3-2B, Note A-3A-4-3 A and Note A-4 A-4-B on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to pay (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to such Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Lender Agreement (JPMDB Commercial Mortgage Securities Trust 2016-C2), Lender Agreement (Wells Fargo Commercial Mortgage Trust 2016-C33)
Priority of Notes. Note A-1A-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-5 and Note A-4 A-6 shall be of equal priority, and no portion of any of Note A-1A-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-5 or Note A-4 A-6 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1A-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-5 and Note A-4 A-6 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1A-0, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-6 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1A-0, Note A-2-2Xxxx X-0, Note A-3-1Xxxx X-0, Note A-3-2, Note A-3-3 or Note A-4, respectivelyA-6, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Co Lender Agreement (DBJPM 2016-C1 Mortgage Trust), Lender Agreement (COMM 2016-Dc2 Mortgage Trust)
Priority of Notes. Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-5 and Note A-4 A-6 shall be of equal priority, and no portion of any of Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-5 or Note A-4 A-6 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-5 and Note A-4 A-6 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1X-0, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-6 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1X-0, Note A-2-2Xxxx X-0, Note A-3-1Xxxx X-0, Note A-3-2, Note A-3-3 or Note A-4, respectivelyA-6, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Lender Agreement (DBJPM 2016-C3 Mortgage Trust), Lender Agreement (JPMDB Commercial Mortgage Securities Trust 2016-C2)
Priority of Notes. Note A-1A-0, Note A-2-1Xxxx X-0X, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0X and Note A-4 A-3 shall be of equal priority, and no portion of any of Note A-1A-0, Note A-2-1Xxxx X-0X, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0X or Note A-4 A-3 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1A-0, Note A-2-1Xxxx X-0X, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0X and Note A-4 A-3 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to pay (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 A-1 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, A-1 that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Lender Agreement (COMM 2016-Ccre28 Mortgage Trust), Lender Agreement (COMM 2015-Lc23 Mortgage Trust)
Priority of Notes. Note A-1, Note A-2-1, Note A-2-2, A and Note A-3-1, Note A-3-2, Note A-3-3 and Note A-4 A shall be of equal priority, and no portion of any of Note A-1, Note A-2-1, Note A-2-2, A or Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 A shall have priority or preference over any portion of the other Note Notes or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1, Note A-2-1, Note A-2-2, A and Note A-3-1, Note A-3-2, Note A-3-3 and Note A-4 A on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to such Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 2 contracts
Samples: Co Lender Agreement (UBS Commercial Mortgage Trust 2019-C16), Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2019-C49)
Priority of Notes. Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 A-4 or Note A-4 A-5 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to such Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 1 contract
Samples: Lender Agreement (CSAIL 2017-C8 Commercial Mortgage Trust)
Priority of Notes. Note A-1-A, Note A-2A-0-1X, Xxxx X-0-X, Xxxx X-0-X, Xxxx X-0, Note A-2A-4-2A, Note A-3A-4-1B, Note A-3-2, Note A-3-3 A-5 and Note A-4 A-6 shall be of equal priority, and no portion of any of Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1, Note A-3A-4-2A, Note A-3A-4-3 B, Note A-5 or Note A-4 A-6 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1, Note A-3A-4-2A, Note A-3A-4-3 B, Note A-5 and Note A-4 A-6 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to pay (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2A-1-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 A is not included in a Securitization, any Penalty Charges allocated to Note A-2A-1-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, A that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 1 contract
Priority of Notes. Note A-1-1, Note A-2-1, Note A-2A-1-2, Note A-3A-1-13, Note A-3A-2-2, 2 and Note A-3A-2-3 and Note A-4 shall be of equal priority, and no portion of any of Note A-1-1, Note A-2-1, Note A-2A-1-2, Note A-3A-1-13, Note A-3A-2-2, 2 or Note A-3A-2-3 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1-1, Note A-2-1, Note A-2A-1-2, Note A-3A-1-13, Note A-3A-2-2, 2 and Note A-3A-2-3 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2A-1-12, Note A-1-3, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 2 or Note A-4 A-2-3, as applicable, is not included in a Securitization, any Penalty Charges allocated to Note A-2A-1-12, Note A-1-3, Note A-2-2, 2 or Note A-3-1, Note A-3-2, Note A-3A-2-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 1 contract
Samples: Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2015-Lc22)
Priority of Notes. Note A-1A-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 shall be of equal priority, and no portion of any of Note A-1A-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1A-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1A-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1A-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 1 contract
Priority of Notes. Note A-1A-0-X, Note A-2Xxxx X-0-1X, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 A-3 shall be of equal priority, and no portion of any of Note A-1A-0-X, Note A-2Xxxx X-0-1X, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-3 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1A-0-X, Note A-2Xxxx X-0-1X, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 A-3 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to pay (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, Advances (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 A-1 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, A-1 that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 1 contract
Samples: Lender Agreement (Wells Fargo Commercial Mortgage Trust 2015-Lc22)
Priority of Notes. Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 A-4 or Note A-4 A-5 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1X-0, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that is not included in a Securitization that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 1 contract
Samples: Lender Agreement (Wells Fargo Commercial Mortgage Trust 2018-C46)
Priority of Notes. Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-3 and Note A-4 shall be of equal priority, and no portion of any of Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-3 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-3 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 1 contract
Priority of Notes. Note A-1A-0-X, Xxxx X-0-X, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-3 and Note A-4 shall be of equal priority, and no portion of any of Note A-1A-0-X, Xxxx X-0-X, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-3 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1A-0-X, Xxxx X-0-X, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-3 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2A-0-1X, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to Note A-2A-0-1X, Note A-2-2Xxxx X-0, Note A-3-1Xxxx X-0, Note A-3-2, Note A-3-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 1 contract
Priority of Notes. Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to the Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-3 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4, respectively, A-3 that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
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Samples: Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2015-Nxs3)
Priority of Notes. Note A-1A-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 shall be of equal priority, and no portion of any of Note A-1A-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1A-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as any of Note A-2-1A-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to any such Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that is not in a securitization that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
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Priority of Notes. Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 A-4 or Note A-4 A-5 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1X-0, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 2 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to any Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, that is not included in a Securitization that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 1 contract
Samples: Co Lender Agreement (Benchmark 2018-B6 Mortgage Trust)
Priority of Notes. Note A-1X-0-X, Note A-2Xxxx X-0-1X, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 A-3 shall be of equal priority, and no portion of any of Note A-1X-0-X, Note A-2Xxxx X-0-1X, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-3 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0-X, Note A-2Xxxx X-0-1X, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 and Note A-4 A-3 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to pay (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, Advances (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 A-1 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, A-1 that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
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Priority of Notes. Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1, Note A-3-2, Note A-3-3 A-3 and Note A-4 shall be of equal priority, and no portion of any of Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1, Note A-3-2, Note A-3-3 A-3 or Note A-4 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1, Note A-3-2, Note A-3-3 A-3 and Note A-4 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2A-1-1B, Note A-2-2A, Note A-3A-2-1B, Note A-3-2, Note A-3-3 A-3 or Note A-4 is not included in a Securitization, any Penalty Charges allocated to Note A-2A-1-1B, Note A-2-2A, Note A-3A-0-1X, Note A-3-2Xxxx X-0, Note A-3-3 or Note A-4, respectively, that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
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Priority of Notes. Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 A-4 or Note A-4 A-5 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to the Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 and Note A-4 A-5 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1X-0, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-5 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1X-0, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4, respectively, A-5 that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 1 contract
Samples: Lender Agreement (Citigroup Commercial Mortgage Trust 2016-P3)
Priority of Notes. Note A-1X-0, Note A-2-1Xxxx X-0X, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0X and Note A-4 A-3 shall be of equal priority, and no portion of any of Note A-1X-0, Note A-2-1Xxxx X-0X, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0X or Note A-4 A-3 shall have priority or preference over any portion of the other Note or security therefor. Except for the Excluded Amounts, all amounts tendered by the Borrower or otherwise available for payment on the Mortgage Loan, whether received in the form of Monthly Payments, a balloon payment, Liquidation Proceeds, proceeds under any guaranty, letter of credit or other instrument serving as security on the Mortgage Loan, proceeds under title, hazard or other insurance policies or awards or settlements in respect of condemnation proceedings or similar exercise of the power of eminent domain shall be distributed by the Master Servicer and applied to Note A-1X-0, Note A-2-1Xxxx X-0X, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0X and Note A-4 A-3 on a Pro Rata and Pari Passu Basis. The Servicing Agreement may provide for the application of Penalty Charges paid in respect of the Mortgage Loan to be used to pay (i) pay the Master Servicer, the Trustee or the Special Servicer for interest accrued on any Property Advances and reimbursement of Property Advances, (ii) to pay the parties to any Securitization for interest accrued on any P&I Advance, (iii) to pay certain other expenses incurred with respect to the Mortgage Loan and (iv) to pay to the Master Servicer and/or the Special Servicer as additional servicing compensation, except that, for so long as Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 A-1 is not included in a Securitization, any Penalty Charges allocated to Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4, respectively, A-1 that are not applied pursuant to clauses (i)-(iii) above shall be remitted to the respective Holder and shall not be paid to the Master Servicer and/or the Special Servicer without the express consent of such Holder.
Appears in 1 contract
Samples: Lender Agreement (Wells Fargo Commercial Mortgage Trust 2015-P2)
