Common use of Master Servicer Responsibilities Clause in Contracts

Master Servicer Responsibilities. The Master Servicer will supervise, monitor and oversee the obligation of the Direct Servicers to service and administer the applicable Mortgage Loans in accordance with Accepted Servicing Practices and will have full power and authority to do any and all things which it may deem necessary or appropriate in its sole discretion in connection with such master servicing and administration in a manner consistent with Accepted Servicing Practices. If the Master Servicer is otherwise eligible to do so, and in the case of Xxxxxx Xxx as Master Servicer no Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred and is continuing, then it may act as an interim servicer (when replacing a Direct Servicer) or as a Direct Servicer, and in such capacity will be responsible for performing all of the obligations listed under Subsection 5.1(3) and Sections 5.2 through 5.10 as it deems necessary and appropriate in servicing the Mortgage Loans in each Pool for and on behalf of Holders. Any or all of the obligations of the Direct Servicer may be performed by the Master Servicer if the Direct Servicer is not required by the related Servicing Contract or under paragraph (a) of Subsection 5.1(4) to perform them.

Master Servicer Responsibilities. The Master Servicer will supervise, monitor and oversee the obligation of the Direct Primary Servicers to service and administer the applicable Mortgage Loans in accordance with Accepted Servicing Practices and will have full power and authority to do any and all things which it may deem necessary or appropriate in its sole discretion in connection with such master servicing and administration in a manner consistent with Accepted Servicing Practices. Practices.‌ If the Master Servicer is otherwise eligible to do so, and in the case of Xxxxxx Xxx as Master Servicer no Guarantor Event of Default of the type described in clause (a) of Section 12.1 has occurred and is continuing, then it may act as an interim servicer (when replacing a Direct Primary Servicer) or as a Direct Primary Servicer, and in such capacity will be responsible for performing all of the obligations listed under Subsection 5.1(3) and Sections 5.2 through 5.10 5.11 as it deems necessary and appropriate in servicing the Mortgage Loans in each Pool for and on behalf of Holders. Any or all of the obligations of the Direct Primary Servicer may be performed by the Master Servicer if the Direct Primary Servicer is not required by the related Servicing Contract or under paragraph (a) of Subsection 5.1(4) to perform them.