Common use of Master Servicer Responsibilities Clause in Contracts

Master Servicer Responsibilities. The Master Servicer will have the full power and authority on behalf of and for the benefit of, and is responsible to, each Trust, to do or cause to be done any and all things that it may deem necessary or appropriate in its sole discretion in connection with the servicing of the Mortgage Loans subject only to the standard in Subsection 5.1(1) above. Such responsibilities may include the following: (a) enter into Servicing Contracts with Primary Servicers providing for the servicing and administration of the Mortgage Loans in accordance with the related Trust Documents (except that the related Servicing Contract may be more restrictive); (b) supervise and monitor the servicing of the Mortgage Loans by the Primary Servicers; (c) make Servicing Advances if a Primary Servicer does not do so and if the Master Servicer determines to do so pursuant to Subsection 5.2(1); (d) establish procedures for the retention, release and return of Mortgage Documents by the related Custodian; (e) maintain records regarding each Trust as provided in Subsection 5.4(4); (f) manage and dispose of REO Property as provided in Subsection 5.10; (g) retain possession of Defeasance Securities and Supplemental Collateral (unless otherwise provided in the Servicing Contract); and (h) make and authorize withdrawals from the Custodial Account as provided in Sections 6.2 and 6.