Certain Calculations in Respect of the Mortgage Loan. (a) All amounts collected by or on behalf of the Trust in respect of the Mortgage Loan in the form of payments from or on behalf of the Borrower Related Parties, any Liquidation Proceeds, Condemnation Proceeds or Insurance Proceeds shall, to the extent not inconsistent with the Mortgage Loan Documents (as modified by the Co-Lender Agreement to establish prioritization among the Notes), and in any event during the continuance of a Mortgage Loan Event of Default, be applied in the following order of priority: first, as a recovery of any related and unreimbursed Property Protection Advances plus interest accrued thereon and, if applicable, other unreimbursed Trust Fund Expenses (excluding interest on Administrative Advances, Monthly Interest Payment Advances and Companion Loan Advances); second, to make (without duplication) payments of interest, principal and reimbursements of any other costs, expenses, advances and losses on the Trust Notes and the Companion Loan Note(s) in the amounts and order of priority provided in the Co-Lender Agreement; provided, that for purposes of determining distributions on the Certificates any Liquidation Proceeds, Condemnation Proceeds or Insurance Proceeds on the Mortgage Loan or Property that would be so allocated as interest and principal on the Trust Notes will be applied to the Trust Notes in the following amounts and order:
Appears in 6 contracts
Samples: Trust and Servicing Agreement (Bank 2022-Bnk41), Trust and Servicing Agreement (BBCMS Mortgage Trust 2022-C15), Trust and Servicing Agreement (Morgan Stanley Capital I Trust 2022-L8)
