Common use of CERTAIN REMIC LIMITATIONS ON MODIFICATION OF SPECIALLY SERVICED MORTGAGE LOANS Clause in Contracts

CERTAIN REMIC LIMITATIONS ON MODIFICATION OF SPECIALLY SERVICED MORTGAGE LOANS. Notwithstanding anything to the contrary in this Agreement, the Special Servicer shall not permit any modification of any Money Term of a Specially Serviced Mortgage Loan unless (i) the Special Servicer shall have received a Nondisqualification Opinion or a ruling from the Internal Revenue Service to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Treasury Regulations Section 1.860G-2(b) of the Code), the reasonable cost of which opinion shall be an expense of the Trust or (ii) such modification meets the requirements set forth in Section 9.5.

CERTAIN REMIC LIMITATIONS ON MODIFICATION OF SPECIALLY SERVICED MORTGAGE LOANS. Notwithstanding anything to the contrary in this Agreement, the Special Servicer shall not permit any modification of any Money Term of a Specially Serviced Mortgage Loan if the Mortgage Loan is not in default or default with respect thereto is not reasonably foreseeable unless (i) the Special Servicer shall have received a Nondisqualification Opinion or a ruling from the Internal Revenue Service to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Treasury Regulations Section 1.860G-2(b) of the Code), the reasonable cost of which opinion shall be an expense of the Trust or (ii) such modification meets the requirements set forth in Section 9.5.

CERTAIN REMIC LIMITATIONS ON MODIFICATION OF SPECIALLY SERVICED MORTGAGE LOANS. Notwithstanding anything to the contrary in this Agreement, the Special Servicer shall not permit any modification of any Money Term of a Specially Serviced Mortgage Loan unless (i) the Special Servicer shall have received a Nondisqualification Opinion or a ruling from the Internal Revenue Service to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Treasury Regulations Section 1.860G-2(bSec 1.860G-2(B) of the Code), the reasonable cost of which opinion shall be an expense of the Trust or (ii) such modification meets the requirements set forth in Section 9.5.

CERTAIN REMIC LIMITATIONS ON MODIFICATION OF SPECIALLY SERVICED MORTGAGE LOANS. Notwithstanding anything to the contrary in this Agreement, the Special Servicer shall not permit any modification of any Money Term of a Specially Serviced Mortgage Loan unless (i) the Special Servicer shall have received a Nondisqualification Opinion or a ruling from the Internal Revenue Service to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code (or, if it would be so treated, would 191 not be treated as a "significant modification" for purposes of Treasury Regulations Section 1.860G-2(bSec 1.860G-2(B) of the Code), the reasonable cost of which opinion shall be an expense of the Trust or (ii) such modification meets the requirements set forth in Section 9.5.

CERTAIN REMIC LIMITATIONS ON MODIFICATION OF SPECIALLY SERVICED MORTGAGE LOANS. Notwithstanding anything to the contrary in this Agreement, the Special Servicer shall not permit any modification of any Money Term of a Specially Serviced Mortgage Loan unless (i) the Special Servicer shall have received a Nondisqualification Opinion 165 173 or a ruling from the Internal Revenue Service to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Treasury Regulations Section 1.860G-2(bSec 1.860G-2(B) of the Code), the reasonable cost of which opinion shall be an expense of the Trust or (ii) such modification meets the requirements set forth in Section 9.5.

CERTAIN REMIC LIMITATIONS ON MODIFICATION OF SPECIALLY SERVICED MORTGAGE LOANS. Notwithstanding anything to the contrary in this Agreement, the Special Servicer shall not permit any modification of any Money Term of a Specially Serviced Mortgage Loan unless (i) the Special Servicer shall have received a Nondisqualification Opinion or a ruling from the Internal Revenue Service to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Treasury Regulations Section Sec 1.860G-2(b) of the Code), the reasonable cost of which opinion shall be an expense of the Trust or (ii) such modification meets the requirements set forth in Section 9.5.