Common use of Cooperation with the Sponsor with Respect to Rights Under the Loan Agreement Clause in Contracts

Cooperation with the Sponsor with Respect to Rights Under the Loan Agreement. It is expressly agreed and understand that, notwithstanding the assignment of the Loan Documents, it is expressly intended that the Sponsor get the benefit of the provisions of any section of the Loan Agreement or securitization cooperation agreement related to indemnification of the Loan Lender and/or its affiliates with respect to any securitization of the related Loan. Therefore, the Depositor, the Servicer, the Special Servicer, the Certificate Administrator and Trustee hereby agree to cooperate with the Sponsor with respect to the benefits of the provisions of any section of the Loan Agreement or securitization cooperation agreement related to indemnification of the Loan Lender and/or its affiliates with respect to any securitization of the Trust Loan with respect to securitization indemnification, including, without limitation, reassignment to the Sponsor of such sections, but no other portion of the Loan Documents, to permit the Sponsor and their 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 10.18, such document shall be in form and substance reasonably acceptable to the Trustee.

Appears in 10 contracts

Samples: Trust and Servicing Agreement (3650R 2021-Pf1 Commercial Mortgage Trust), Trust and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2021-C60), Trust and Servicing Agreement (CSAIL 2021-C20 Commercial Mortgage Trust)

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Cooperation with the Sponsor with Respect to Rights Under the Loan Agreement. It is expressly agreed and understand that, notwithstanding the assignment of the Loan Documents, it is expressly intended that the Sponsor get the benefit of the provisions of any section of the Loan Agreement or securitization cooperation agreement related to indemnification of the Loan Lender and/or its affiliates with respect to any securitization of the related Loan. Therefore, the Depositor, the Servicer, the Special Servicer, the Certificate Administrator and Trustee hereby agree to cooperate with the Sponsor with respect to the benefits of the provisions of any section of the Loan Agreement or securitization cooperation agreement related to indemnification of the Loan Lender and/or its affiliates with respect to any securitization of the Trust Loan with respect to securitization indemnification, including, without limitation, reassignment to the Sponsor of such sections, but no other portion of the Loan Documents, to permit the Sponsor and their 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 10.18, such document shall be in form and substance reasonably acceptable to the Trustee.222

Appears in 1 contract

Samples: Trust and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2021-C61)

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