Common use of Cooperation with the Mortgage Loan Sellers with Respect to Rights Under the Loan Agreements Clause in Contracts

Cooperation with the Mortgage Loan Sellers with Respect to Rights Under the Loan Agreements. It is expressly agreed and understood that, notwithstanding the assignment of the Loan Documents, it is expressly intended that the Mortgage Loan Sellers get the benefit of any securitization indemnification provisions in the Loan Documents. Therefore, the Depositor, Master Servicer, Special Servicer and Trustee hereby agree to cooperate with any Mortgage Loan Seller with respect to the benefits of the provisions of any section of a Loan Agreement or securitization cooperation agreement related to indemnification of the lender and/or its affiliates with respect to any securitization of the related Mortgage Loan, including, without limitation, reassignment to the related Mortgage Loan Seller of such sections, but no other portion of the Loan Documents, to permit the related Mortgage Loan Seller and its respective affiliates to enforce such provisions for their respective benefits. To the extent that the Trustee is required to execute any document facilitating an assignment under this Section 11.15, such document shall be in form and substance reasonably acceptable to the Trustee.

Appears in 12 contracts

Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2013-Gcj12), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc20), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2013-Gcj16)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.