Common use of Foreclosed Property Account Clause in Contracts

Foreclosed Property Account. The Special Servicer shall establish and maintain one or more deposit accounts (the “Foreclosed Property Account”) for the benefit of the Certificateholders and the Companion Loan Holders in the name of “Situs Holdings, LLC, as Special Servicer for Xxxxx Fargo Bank, National Association, as Trustee of Natixis Commercial Mortgage Securities Trust 2019-NEMA, Commercial Mortgage Pass-Through Certificates, Series 2019-NEMA” related to the Foreclosed Property, if any, held in the name of the Special Servicer for the benefit of the Trustee on behalf of the Certificateholders and the Companion Loan Holders. The Foreclosed Property Account must be an Eligible Account maintained with an Eligible Institution. The Special Servicer shall deposit into the Foreclosed Property Account within one Business Day of receipt all properly identified funds collected and received in connection with the operation or ownership of such Foreclosed Property. On or before the Determination Date, the Special Servicer shall withdraw the funds in the Foreclosed Property Account, net of certain expenses and/or reserves (to the extent not inconsistent with the express terms hereof, the amount of such reserves to be determined in accordance with the Special Servicer’s reasonable discretion and in accordance with Accepted Servicing Practices), and deposit them into the Collection Account in accordance with Section 3.4(a). The Special Servicer shall notify the Certificate Administrator in writing of the location and account number of the Foreclosed Property Account and shall notify the Certificate Administrator in writing prior to any subsequent change thereof.

Foreclosed Property Account. The Special Servicer shall establish and maintain one or more deposit accounts (the “Foreclosed Property Account”) for the benefit of the Certificateholders and the Companion Loan Holders in the name of “Situs Holdings, LLC, as Special Servicer for Xxxxx Fargo Bank, National Association, as Trustee of Natixis Commercial Mortgage Securities Trust 2019-NEMALVL, Commercial Mortgage Pass-Through Certificates, Series 2019-NEMALVL” related to the Foreclosed Property, if any, held in the name of the Special Servicer for the benefit of the Trustee on behalf of the Certificateholders and the Companion Loan Holders. The Foreclosed Property Account must be an Eligible Account maintained with an Eligible Institution. The Special Servicer shall deposit into the Foreclosed Property Account within one Business Day of receipt all properly identified funds collected and received in connection with the operation or ownership of such Foreclosed Property. On or before the Determination Date, the Special Servicer shall withdraw the funds in the Foreclosed Property Account, net of certain expenses and/or reserves (to the extent not inconsistent with the express terms hereof, the amount of such reserves to be determined in accordance with the Special Servicer’s reasonable discretion and in accordance with Accepted Servicing Practices), and deposit them into the Collection Account in accordance with Section 3.4(a). The Special Servicer shall notify the Certificate Administrator in writing of the location and account number of the Foreclosed Property Account and shall notify the Certificate Administrator in writing prior to any subsequent change thereof.

Foreclosed Property Account. The Special Servicer shall establish and maintain one or more deposit accounts (the “Foreclosed Property Account”) for the benefit of the Certificateholders and the Companion Loan Holders in the name of “Situs Holdings, LLCKeyBank National Association, as Special Servicer for Xxxxx Fargo Bank, National Association, as Trustee of Natixis Commercial Mortgage Securities Trust 20192018-NEMAOSS, Commercial Mortgage Pass-Through Certificates, Series 20192018-NEMAOSS” related to the Foreclosed Property, if any, held in the name of the Special Servicer for the benefit of the Trustee on behalf of the Certificateholders and the Companion Loan Holders. The Foreclosed Property Account must be an Eligible Account maintained with an Eligible Institution. The Special Servicer shall deposit into the Foreclosed Property Account within one Business Day of receipt all properly identified funds collected and received in connection with the operation or ownership of such Foreclosed Property. On or before the Determination Date, the Special Servicer shall withdraw the funds in the Foreclosed Property Account, net of certain expenses and/or reserves (to the extent not inconsistent with the express terms hereof, the amount of such reserves to be determined in accordance with the Special Servicer’s reasonable discretion and in accordance with Accepted Servicing Practices), and deposit them into the Collection Account in accordance with Section 3.4(a). The Special Servicer shall notify the Certificate Administrator in writing of the location and account number of the Foreclosed Property Account and shall notify the Certificate Administrator in writing prior to any subsequent change thereof.

Foreclosed Property Account. The Special Servicer shall establish and maintain one or more deposit accounts (the “Foreclosed Property Account”) for the benefit of the Certificateholders and the Companion Loan Holders in the name of “Situs Holdings, LLCKeyBank National Association, as Special Servicer for Xxxxx Fargo Bank, National Association, as Trustee of Natixis Commercial Mortgage Securities Trust 20192017-NEMA75B, Commercial Mortgage Pass-Through Certificates, Series 20192017-NEMA75B” related to the Foreclosed Property, if any, held in the name of the Special Servicer for the benefit of the Trustee on behalf of the Certificateholders and the Companion Loan Holders. The Foreclosed Property Account must be an Eligible Account maintained with an Eligible Institution. The Special Servicer shall deposit into the Foreclosed Property Account within one Business Day of receipt all properly identified funds collected and received in connection with the operation or ownership of such Foreclosed Property. On or before the Determination Date, the Special Servicer shall withdraw the funds in the Foreclosed Property Account, net of certain expenses and/or reserves (to the extent not inconsistent with the express terms hereof, the amount of such reserves to be determined in accordance with the Special Servicer’s reasonable discretion and in accordance with Accepted Servicing Practices), and deposit them into the Collection Account in accordance with Section 3.4(a). The Special Servicer shall notify the Certificate Administrator in writing of the location and account number of the Foreclosed Property Account and shall notify the Certificate Administrator in writing prior to any subsequent change thereof.

Foreclosed Property Account. The Special Servicer shall establish and maintain one or more deposit accounts (the “Foreclosed Property Account”) for the benefit of the Certificateholders and the Companion Loan Holders in the name of either (a) “Situs HoldingsAEGON USA Realty Advisors, LLC, as Special Servicer for Xxxxx Fargo BankWilmington Trust, National Association, as Trustee of Natixis Commercial Mortgage Securities Trust 20192018-NEMAALXA, Commercial Mortgage Pass-Through Certificates, Series 20192018-NEMAALXA” or (b) the limited liability company wholly owned by the Trust, managed by the Special Servicer, and formed to hold title to the Foreclosed Property pursuant to Section 3.14, related to the Foreclosed Property, if any, held in the name of the Special Servicer for the benefit of the Trustee on behalf of the Certificateholders and the Companion Loan Holders. The Foreclosed Property Account must be an Eligible Account maintained with an Eligible Institution. The Special Servicer shall deposit into the Foreclosed Property Account within one Business Day of receipt all properly identified funds collected and received in connection with the operation or ownership of such Foreclosed Property. On or before the Determination Date, the Special Servicer shall withdraw the funds in the Foreclosed Property Account, net of certain expenses and/or reserves (to the extent not inconsistent with the express terms hereof, the amount of such reserves to be determined in accordance with the Special Servicer’s reasonable discretion and in accordance with Accepted Servicing Practices), and deposit them into the Collection Account in accordance with Section 3.4(a). The Special Servicer shall notify the Certificate Administrator in writing of the location and account number of the Foreclosed Property Account and shall notify the Certificate Administrator in writing prior to any subsequent change thereof.

Foreclosed Property Account. The Special Servicer shall establish and maintain one or more deposit accounts (the “Foreclosed Property Account”) for the benefit of the Certificateholders and the Companion Loan Holders in the name of “Situs Holdings, LLC, as Special Servicer for Xxxxx Fargo Bank, National Association, as Special Servicer for Deutsche Bank Trust Company Americas, as Trustee of Natixis RBS Commercial Mortgage Securities Trust 2019Funding Inc. 2013-NEMAGSP Trust, Commercial Mortgage Pass-Pass Through Certificates, Series 20192013-NEMAGSP and the Companion Loan Holder, as their interests may appear” related to the Foreclosed Property, if any, held in the name of the Special Servicer for the benefit of the Trustee on behalf of the Certificateholders and the Companion Loan HoldersCertificateholders. The Foreclosed Property Account must be an Eligible Account maintained with an Eligible Institution. The Special Servicer shall deposit into the Foreclosed Property Account within one Business Day of receipt all properly identified funds collected and received in connection with the operation or ownership of such Foreclosed Property. On or before the Determination Datelast day of each Collection Period, the Special Servicer shall withdraw the funds in the Foreclosed Property Account, net of certain expenses and/or reserves (to the extent not inconsistent with the express terms hereof, the amount of such reserves to be determined in accordance with the Special Servicer’s reasonable discretion and in accordance with Accepted Servicing Practices), and deposit them into the Collection Account in accordance with Section 3.4(a). The Special Servicer shall notify the Certificate Administrator in writing of the location and account number of the Foreclosed Property Account and shall notify the Certificate Administrator in writing prior to any subsequent change thereof.