Common use of Certain Matters Regarding Significant Obligors Clause in Contracts

Certain Matters Regarding Significant Obligors. (a) For purposes of this Agreement, the Mortgagors under Mortgage Loan No. 1 identified as Miami International Mall and Loan No. 2 identified as Jordan Creek Town Center on the Mortgage Loan Schedule is a significant obligor (“Significant Obligor”) and, accordingly, Item 6 of Form 10-D and Item 1112(b) of Form 10-K, provide for the inclusion of updated net operating income of the related Mortgagor as required by Item 1112(b) of Regulation AB, on each Form 10-D to be filed by the Trust with respect to a Distribution Date immediately following the date in which each financial statement of the Significant Obligor is required to be delivered to the lender under the related Mortgage Loan documents (which, for the avoidance of doubt, is forty-five (45) days following the end of the first, second and third calendar quarter, and seventy-five (75) days following the end of each fiscal year, as set forth in the related loan agreement), or on each Form 10-K filed by the Trust, as applicable. With respect to the Significant Obligor, after receipt of the updated net operating income information, the Master Servicer shall update the following columns of the CREFC® Loan Periodic Update File for (i) the next applicable Distribution Date if the Master Servicer receives such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date or (ii) the second succeeding Distribution Date if the Master Servicer does not receive such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date: BB, BP, BT and BU (corresponding fields 54, 68, 72 and 73). The Master Servicer shall provide the related Mortgagor under the Miami International Mall Whole Loan with written notice no later than sixty (60) days after the end of any calendar year that it is requesting such financial statements to be delivered within seventy-five (75) days after the close of the calendar year, and shall use reasonable best efforts to cause the Mortgagor to deliver the same on or before the date that is seventy-five (75) days after the close of the applicable calendar year.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C19), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C21), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C18)

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Certain Matters Regarding Significant Obligors. (a) For purposes of this Agreement, the Mortgagors Mortgagor under Mortgage Loan No. 1 identified as Miami International Mall and Loan No. 2 identified as Jordan Creek Town Center The Outlets at Orange on the Mortgage Loan Schedule is a significant obligor (“Significant Obligor”) and, accordinglyrelated to the Trust. With respect to the Significant Obligor, Item 6 of Form 10-D and Item 1112(b) of Form 10-K, provide for the inclusion of updated net operating income of the related Mortgagor as required by Item 1112(b) of Regulation AB, on each Form 10-D to be filed by the Trust with respect to a Distribution Date immediately following the date in which each financial statement of the Significant Obligor is required to be delivered to the lender under the related Mortgage Loan documents (which, for the avoidance of doubt, is forty-five (45) days following the end of the first, second and third calendar quarter, and seventy-five (75) days following the end of each fiscal calendar year, and forty-five (45) days following the end of each calendar quarter, as set forth in the related loan agreement), or on each Form 10-K filed by the Trust, as applicable. With respect to the Significant Obligor, after receipt of the updated net operating income information, the Master Servicer shall update the following columns of the CREFC® Loan Periodic Update File for (i) the next applicable Distribution Date if the Master Servicer receives such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date or (ii) the second succeeding Distribution Date if the Master Servicer does not receive such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date: BB, BP, BT and BU (corresponding fields 54, 68, 72 and 73). The Master Servicer shall provide the related Mortgagor under the Miami International Mall Whole Loan with written notice no later than sixty (60) days after the end of any calendar year that it is requesting such financial statements to be delivered within seventy-five (75) days after the close of the calendar year, and shall use reasonable best efforts to cause the Mortgagor to deliver the same on or before the date that is seventy-five (75) days after the close of the applicable calendar year.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C21), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2014-C20)

Certain Matters Regarding Significant Obligors. (a) For purposes of this Agreement, the Mortgagors Mortgagor under Mortgage Loan No. 1 identified as Miami International Mall and Loan No. 2 identified as Jordan Creek Town Center on the Mortgage Loan Schedule is a significant obligor (“Significant Obligor”) and, accordingly, Item 6 of Form 10-D and Item 1112(b) of Form 10-K, provide for the inclusion of updated net operating income of the related Mortgagor as required by Item 1112(b) of Regulation AB, on each Form 10-D to be filed by the Trust with respect to a Distribution Date immediately following the date in which each financial statement of the Significant Obligor is required to be delivered to the lender under the related Mortgage Loan documents (which, for the avoidance of doubt, is forty-five (45) days following the end of the first, second and third calendar quarter, and seventy-five (75) days following the end of each fiscal calendar year, and forty-five (45) days following the end of each calendar quarter as set forth in the related loan agreement), or on each Form 10-K filed by the Trust, as applicable. With respect to the Significant Obligor, after receipt of the updated net operating income information, the Master Servicer shall update the following columns of the CREFC® Loan Periodic Update File for (i) the next applicable Distribution Date if the Master Servicer receives such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date or (ii) the second succeeding Distribution Date if the Master Servicer does not receive such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date: BB, BP, BT and BU (corresponding fields 54, 68, 72 and 73). The Master Servicer shall provide the related Mortgagor under the Miami International Mall Whole Loan with written notice no later than sixty (60) days after the end of any calendar year that it is requesting such financial statements to be delivered within seventy-five (75) days after the close of the calendar year, and shall use reasonable best efforts to cause the Mortgagor to deliver the same on or before the date that is seventy-five (75) days after the close of the applicable calendar year.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C18), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2013-C17)

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Certain Matters Regarding Significant Obligors. [(a) For purposes of this Agreement, the Mortgagors under Mortgage Loan No. 1 Mortgaged Property identified as Miami International Mall and Loan No. 2 identified as Jordan Creek Town Center on the Mortgage Loan Schedule as [ ] is a significant obligor obligor” (a “Significant Obligor”) andas such term is used in Items 1101 and 1112 of Regulation AB. Accordingly, accordinglyas required by Item 1112(b) of Regulation AB, each of Item 6 of Form 10-D and Item 1112(b) of Form 10-K, K provide for the inclusion of updated net operating income of the related Mortgagor as required by Item 1112(b) on each Form 10-K to be filed on behalf of Regulation AB, on the Trust and each Form 10-D to be filed by on behalf of the Trust with respect to a Distribution Date occurring on or immediately following the date in on which each financial statement of the Significant Obligor is required to be delivered to the lender under the related Mortgage Loan documents Documents (which, for the avoidance of doubt, which is forty-five (45) [ ] days following the end of the first, second and third calendar quarter, and seventyeach fiscal quarter (including year-five (75end) or [ ] days following the end of each fiscal year, as applicable, as set forth in Section [ ] and Section [ ] of the related loan agreement), or on each Form 10-K filed agreement relating to the Mortgage Loan secured by the Trust, Mortgaged Property identified on the Mortgage Loan Schedule as applicable[ ]). With respect to the Significant Obligor, after After receipt of the updated net operating income informationinformation relating to the Significant Obligor, the Master Servicer shall update the following columns fields of the CREFC® CREFC Loan Periodic Update File for the (ia) the next applicable immediately succeeding Distribution Date if the Master Servicer receives such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date (or such shorter period as may be necessary to comply with revised law or regulations or interpretations thereof; provided the Master Servicer receives written notice of such shorter period from the Depositor or the Trustee) or (iib) the second succeeding Distribution Date if the Master Servicer does not receive such updated net operating income information at least ten (10) Business Days prior to the Determination Date related date set forth in clause (a): 54 – “Preceding Fiscal Year NOI,” 68 – “Most Recent NOI,” 72 – “Most Recent Financial As of Start Date” and 73 – “Most Recent Financial As of End Date”, as such field numbers may change from time to such Distribution Date: BB, BP, BT and BU (corresponding fields 54, 68, 72 and 73). The Master Servicer shall provide the related Mortgagor under the Miami International Mall Whole Loan with written notice no later than sixty (60) days after the end of any calendar year that it is requesting such financial statements to be delivered within seventy-five (75) days after the close of the calendar year, and shall use reasonable best efforts to cause the Mortgagor to deliver the same on or before the date that is seventy-five (75) days after the close of the applicable calendar yeartime.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Barclays Commercial Mortgage Securities LLC)

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