Collection of Mortgage Loan Payments; Collection Account; Distribution Account Sample Clauses

Collection of Mortgage Loan Payments; Collection Account; Distribution Account. (a) The Master Servicer shall enforce the obligation of the Servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with the applicable Servicing Agreement and the terms and provisions of any related Required Insurance Policy.
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Collection of Mortgage Loan Payments; Collection Account; Distribution Account. (a) The Servicer shall make reasonable efforts in accordance with Accepted Servicing Practices to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Required Insurance Policy. Consistent with the foregoing, the Servicer may in its discretion extend the due dates for payments due on a Mortgage Note for a period not greater than 270 days; provided, however, that the NIMs Insurer's prior written consent shall be required for any modification, waiver or amendment if the aggregate number of outstanding Mortgage Loans which have been modified, waived or amended exceeds 5% of the number of Mortgage Loans as of the Cut-Off Date. In the event of any such arrangement, subject to Section 4.01, the Servicer shall make any Advances on the related Mortgage Loan during the scheduled period in accordance with the amortization schedule of such Mortgage Loan without modification thereof by reason of such arrangements. The Servicer shall waive a prepayment penalty in connection with the prepayment of a Mortgage Loan in response to a request for such a waiver under the following circumstances (but only under the following circumstances): (i) Loss Mitigation; (ii) Assertion of Non-Compliance; (iii) Mortgagor hardship due to an External Life Event; or (iv) to avoid or resolve active, pending or threatened litigation involving the related Mortgage Loan. The Servicer shall not be required to institute or join in litigation with respect to collection of any payment (whether under a Mortgage, Mortgage Note or otherwise or against any public or governmental authority with respect to a taking or condemnation) if it reasonably believes that enforcing the provision of the Mortgage or other instrument pursuant to which such payment is required is prohibited by applicable law.
Collection of Mortgage Loan Payments; Collection Account; Distribution Account. Group I Cap 1 Account; Group I Cap 2 Account; Group I Swap Account; Class I-P Reserve Fund; Carryover Reserve Fund.
Collection of Mortgage Loan Payments; Collection Account; Distribution Account. Yield Maintenance Reserve Account; Excess Reserve Fund Account........................ Section 3.08 Collection of Taxes, Assessments and Similar Items; Escrow Accounts............................................. Section 3.09 Access to Certain Documentation and Information Regarding the Mortgage Loans................................ Section 3.10 Permitted Withdrawals from the Collection Account and Distribution Account........................................ Section 3.11
Collection of Mortgage Loan Payments; Collection Account; Distribution Account. (a) The Servicer shall make reasonable efforts in accordance with Accepted Servicing Practices to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related
Collection of Mortgage Loan Payments; Collection Account; Distribution Account. Group 1 Basis Risk Account; Group 2 Basis Risk Account.................................. Section 3.08 Collection of Taxes, Assessments and Similar Items; Escrow Accounts............................................. Section 3.09 Access to Certain Documentation and Information Regarding the Mortgage Loans.......................................... Section 3.10 Permitted Withdrawals from the Collection Account, Distribution Account, Group 1 Basis Risk Account and Group 2 Basis Risk Account.................................. Section 3.11
Collection of Mortgage Loan Payments; Collection Account; Distribution Account. (a) The Servicer shall make reasonable efforts in accordance with Accepted Servicing Practices to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Required Insurance Policy. Consistent with the foregoing and subject to the provisions of Section 3.01 hereof, the Servicer may in its discretion extend the due dates for payments due on a Mortgage Note for a period not greater than 270 days. The Servicer shall waive a prepayment penalty in connection with the prepayment of a Mortgage Loan in response to a request for such a waiver under the following circumstances (but only under the following circumstances): (i) Loss Mitigation; (ii) Assertion of Non-Compliance; (iii) Mortgagor hardship due to an External Life Event; or (iv) to avoid or resolve active, pending or threatened litigation involving the related Mortgage Loan. The Servicer shall not be required to institute or join in litigation with respect to collection of any payment (whether under a Mortgage, Mortgage Note or otherwise or against any public or governmental authority with respect to a taking or condemnation) if it reasonably believes that enforcing the provision of the Mortgage or other instrument pursuant to which such payment is required is prohibited by applicable law.
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Collection of Mortgage Loan Payments; Collection Account; Distribution Account. (a) The Servicer shall make reasonable efforts in accordance with Accepted Servicing Practices to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Required Insurance Policy. Consistent with the foregoing, the Servicer may in its discretion (i) waive any late payment charge or any prepayment charge or penalty interest in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Mortgage Note for a period not greater than 270 days. In the event of any such arrangement, subject to Section 4.01, the Servicer shall make any Advances on the related Mortgage Loan during the scheduled period in accordance with the amortization schedule of such Mortgage Loan without modification thereof by reason of such arrangements. The Servicer shall not be required to institute or join in litigation with respect to collection of any payment (whether under a Mortgage, Mortgage Note or otherwise or against any public or governmental authority with respect to a taking or condemnation) if it reasonably believes that enforcing the provision of the Mortgage or other instrument pursuant to which such payment is required is prohibited by applicable law.
Collection of Mortgage Loan Payments; Collection Account; Distribution Account. Carryover Reserve Fund; Cap Account; Mezzanine Cap Account; Class P Reserve Fund. 76
Collection of Mortgage Loan Payments; Collection Account; Distribution Account. (a) The Servicer shall make reasonable efforts in accordance with Accepted Servicing Practices to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Required Insurance Policy. Consistent with the foregoing, the Servicer may in its discretion extend the due dates for payments due on a Mortgage Note for a period not greater than 270 days; provided, however, that the NIMs Insurer's prior written consent shall be required for any modification, waiver or amendment if the aggregate number of outstanding Mortgage Loans which have been modified, waived or amended exceeds 5% of the number of Mortgage Loans as of the Cut-Off Date. In the event of any such arrangement, subject to Section 4.01, the Servicer shall make any Advances on the related Mortgage Loan during the scheduled period in accordance with the amortization schedule of such Mortgage
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