Common use of Lead Securitization Servicing Agreement Clause in Contracts

Lead Securitization Servicing Agreement. Each Non-Lead Master Servicer and the special servicer (a “Non-Lead Special Servicer”) and the trustee (a “Non-Lead Trustee”) under each Non-Lead Securitization Servicing Agreement, as applicable, shall be entitled to make its own recoverability determination with respect to a P&I Advance to be made on the related Non-Lead Securitization Note based on the information that they have on hand and in accordance with the related Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as applicable, and any Non-Lead Master Servicer or Non-Lead Trustee, as applicable, shall be required to notify the other parties to each applicable other Securitization of the amount of its P&I Advance within two business days of making such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect to the Lead Securitization Note(s)) or a Non-Lead Master Servicer, a Non-Lead Special Servicer or a Non-Lead Trustee, as applicable (with respect to a Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would be non-recoverable or an outstanding P&I Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently determines that a proposed Property Protection Advance or Administrative Advance would, if made, be non-recoverable or an outstanding Property Protection Advance or Administrative Advance is or would be non-recoverable, then the party making such determination shall notify each Non-Lead Master Servicer and Non-Lead Trustee (in the case of a determination by the Master Servicer or the Trustee) or each of the Master Servicer and the Trustee (in the case of a determination by any Non-Lead Master Servicer or Non-Lead Trustee) within two business days of making such determination. Each of the Master Servicer, the Trustee, the related Non-Lead Master Servicer and the related Non-Lead Trustee, as applicable, shall be entitled to reimbursement for a P&I Advance (and Advance Interest thereon) or an Administrative Advance (and Advance Interest thereon) that becomes non-recoverable from the Collection Account from amounts allocable to the Mortgage Loan prior to any distributions to the Noteholders.

Lead Securitization Servicing Agreement. Each Non-Lead Master Servicer and the special servicer (a “Non-Lead Special Servicer”) and the trustee (a “Non-Lead Trustee”) under each Non-Lead Securitization Servicing Agreement, as applicable, shall be entitled to make its own recoverability determination with respect to a P&I Advance to be made on the related Non-Lead Securitization Note based on the information that they have on hand and in accordance with the related Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as applicable, and any the Non-Lead Master Servicer or the Non-Lead Trustee, as applicable, Trustee shall be required to notify the other parties to each applicable other Securitization of the amount of its P&I Advance within two business days of making such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect to the Lead Securitization Note(s)Note) or a the Non-Lead Master Servicer, a Non-Lead Special Servicer or a the Non-Lead Trustee, as applicable (with respect to a the Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would be non-recoverable or an outstanding P&I Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently determines that a proposed Property Protection Servicing Advance or Administrative Advance would, if made, would be non-recoverable or an outstanding Property Protection Advance or Administrative Servicing Advance is or would be non-recoverable, then the party making such Master Servicer or the Trustee (as provided in the Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or the Non-Lead Master Servicer or the Non-Lead Trustee (as provided in the Non-Lead Securitization Servicing Agreement, in the case of the a determination of non-recoverability by the Non-Lead Master Servicer, the Non-Lead Special Servicer or the Non-Lead Trustee) shall notify each the Master Servicer and the Trustee, or the Non-Lead Master Servicer and Non-Lead Trustee (in the case of a determination by the Master Servicer or the Trustee) or each of the Master Servicer and the Trustee (in the case of a determination by any Non-Lead Master Servicer or Non-Lead Trustee) , as the case may be, of the other Securitization within two business days of making such determination. Each of the Master Servicer, the Trustee, the related Non-Lead Master Servicer and the related Non-Lead Trustee, as applicable, shall will only be entitled to reimbursement for a P&I Advance (and Advance Interest thereon) or an Administrative Advance (and Advance Interest thereon) advance interest thereon that becomes non-recoverable first from the Collection Certificate Account or Companion Distribution Account from amounts allocable to the Mortgage Loan prior to any distributions Note for which such P&I Advance was made, and then, if funds are insufficient, (i) in the case of the Lead Securitization Note, from general collections of the Lead Securitization Trust, pursuant to the Noteholdersterms of the Lead Securitization Servicing Agreement and (ii) in the case of the Non-Lead Securitization Note, from general collections of the related Securitization Trust, as and to the extent provided in the Non-Lead Securitization Servicing Agreement.

Lead Securitization Servicing Agreement. Each Non-Lead Master Servicer and the special servicer (a “Non-Lead Special Servicer”) and the trustee (a “Non-Lead Trustee”) under each Non-Lead Securitization Servicing Agreement, as applicable, shall be entitled to make its own recoverability determination with respect to a P&I Advance to be made on the related Non-Lead Securitization Note based on the information that they have on hand and in accordance with the related Non-Lead Securitization Servicing Agreement. The Master Servicer and the Trustee, as applicable, and any the related Non-Lead Master Servicer or the related Non-Lead Trustee, as applicable, Trustee shall be required to notify the other parties to each applicable other Securitization of the amount of its P&I Advance within two business days Business Days of making such advance. If the Master Servicer, the Special Servicer or the Trustee, as applicable (with respect to the Lead Securitization Note(s)Note) or a Non-Lead Master Servicer, a Non-Lead Special Servicer or a Non-Lead Trustee, as applicable (with respect to a Non-Lead Securitization Note), determines that a proposed P&I Advance, if made, would be non-recoverable or an outstanding P&I Advance is or would be non-recoverable, or if the Master Servicer, the Special Servicer or the Trustee, as applicable, subsequently determines that a proposed Property Protection Servicing Advance or Administrative Advance would, if made, would be non-recoverable or an outstanding Property Protection Advance or Administrative Servicing Advance is or would be non-recoverable, then the party making such Master Servicer or the Trustee (as provided in the Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability by the Master Servicer, the Special Servicer or the Trustee) or the related Non-Lead Master Servicer or the related Non-Lead Trustee (as provided in the related Non-Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability by the related Non-Lead Master Servicer, the related Non-Lead Special Servicer or the related Non-Lead Trustee) shall notify each the related Master Servicer and the related Trustee, or the Non-Lead Master Servicer and Non-Lead Trustee (in the case of a determination by the Master Servicer or the Trustee) or each of the Master Servicer and the Trustee (in the case of a determination by any Non-Lead Master Servicer or Non-Lead Trustee) within two business days , as the case may be, of the other Securitization promptly upon making such determination. Each of the Master ServicerServicer and the Trustee will only be entitled to reimbursement for a P&I Advance made with respect to the Lead Securitization Note and advance interest thereon that becomes non-recoverable first from the Certificate Account from amounts allocable to the Lead Securitization Note, and then, if funds are insufficient, from general collections of the TrusteeLead Securitization Trust, pursuant to the related terms of the Lead Securitization Servicing Agreement. Each of a Non-Lead Master Servicer and the related a Non-Lead Trustee, as applicable, shall will only be entitled to reimbursement for a P&I Advance (made with respect to the Non-Lead Securitization Note and Advance Interest thereon) or an Administrative Advance (and Advance Interest thereon) advance interest thereon that becomes non-recoverable from general collections of the Collection Account from amounts allocable related Non-Lead Securitization Trust, as and to the Mortgage Loan prior to any distributions to extent provided in the Noteholdersrelated Non-Lead Securitization Servicing Agreement.