Common use of Modifications of Mortgage Loans Clause in Contracts

Modifications of Mortgage Loans. Notwithstanding anything to the contrary in this Agreement, neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit any modification of a Money Term of a Mortgage Loan or the uncrossing of any cross-collateralized Mortgage Loan (including in connection with the transfer of any Mortgaged Property), in either case that is not in default or as to which default is not reasonably foreseeable unless (i) the Trustee, the Special Servicer, the Paying Agent and the Master Servicer have received a Nondisqualification Opinion or a ruling from the Internal Revenue Service (at the expense of the party making the request that the Master Servicer or the Special Servicer modify the Mortgage Loan or a Specially Serviced Mortgage Loan) to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code ccxciii (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Section 1.860G-2(b) of the Treasury Regulations) or (ii) such modification meets the requirements set forth in Sections 8.18 or 9.5.

Modifications of Mortgage Loans. Notwithstanding anything to the contrary in this Agreement, neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit any modification of (other than a Money Term modification that adds, deletes, or alters customary accounting or financial covenants) of a Mortgage Loan or the uncrossing of any cross-collateralized a Specially Serviced Mortgage Loan (including in connection with the transfer of any Mortgaged Property), in either case that which is not in default or as to which a default is not reasonably foreseeable unless (i) the Trustee, the Special Servicer, the Paying Agent Servicer and the Master Servicer have received has determined (and the Special Servicer or Master Servicer, as applicable, may rely upon a Nondisqualification Opinion or a ruling from the Internal Revenue Service (at the expense of the party making the request that the Master Servicer or the Special Servicer modify the Mortgage Loan or a Specially Serviced Mortgage Loan) to the effect that that) such modification would not be treated as an exchange pursuant to Section 1001 of the Code ccxciii (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Treasury Regulations Section 1.860G-2(b1.860G-2(B) of the Treasury RegulationsCode) or (ii) such modification meets the requirements set forth in Sections 8.18 or 9.5.

Modifications of Mortgage Loans. Notwithstanding anything to the contrary in this Agreement, neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit any modification of a Money Term of a Mortgage Loan or the uncrossing of any cross-collateralized Mortgage Loan (including in connection with the transfer of any Mortgaged Property), in either case that is not in default or as to which default is not reasonably foreseeable unless (i) the Trustee, the Special Servicer, the Paying Agent and the Master Servicer have received a Nondisqualification Opinion or a ruling from the Internal Revenue Service (at the expense of the party making the request that the Master Servicer or the Special Servicer modify the Mortgage Loan or a Specially Serviced Mortgage Loan) to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code ccxciii (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Section 1.860G-2(b) of the Treasury Regulations) or (ii) such modification meets the requirements set forth in Sections 8.18 or 9.5.. 293

Modifications of Mortgage Loans. Notwithstanding anything to the contrary in this Agreement, neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit any modification of (other than a Money Term modification that adds, deletes, or alters customary accounting or financial covenants) of a Mortgage Loan or the uncrossing of any cross-collateralized a Specially Serviced Mortgage Loan (including in connection with the transfer of any Mortgaged Property), in either case that which is not in default or as to which a default is not reasonably foreseeable unless (i) the Trustee, the Special Servicer, the Paying Agent Servicer and the Master Servicer have received has determined (and the Special Servicer or Master Servicer, as applicable, may rely upon a Nondisqualification Opinion or a ruling from the Internal Revenue Service (at the expense of the party making the request that the Master Servicer or the Special Servicer modify the Mortgage Loan or a Specially Serviced Mortgage Loan) to the effect such effect) that such modification would not be treated as an exchange pursuant to Section 1001 of the Code ccxciii (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Treasury Regulations Section 1.860G-2(b) of the Treasury RegulationsCode) or (ii) such modification meets the requirements set forth in Sections 8.18 or 9.5.

Modifications of Mortgage Loans. Notwithstanding anything to the contrary in this Agreement, neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit any modification of a Money Term of a Mortgage Loan or the uncrossing of any cross-collateralized Mortgage Loan (including in connection with the transfer of any Mortgaged Property), in either case that is not in default or as to which default is not reasonably foreseeable or a Specially Serviced Mortgage Loan unless (i) the Trustee, the Special Servicer, the Paying Agent and the Master Servicer have received a Nondisqualification Opinion or a ruling from the Internal Revenue Service (at the expense of the party making the request that the Master Servicer or the Special Servicer modify the Mortgage Loan or a Specially Serviced Mortgage Loan) to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code ccxciii (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Section 1.860G-2(b) of the Treasury Regulations) or (ii) such modification meets the requirements set forth in Sections 8.18 or 9.5.