Common use of Pooling and Servicing Agreements Clause in Contracts

Pooling and Servicing Agreements. Notwithstanding the provisions of this Article IX, to the extent the Collateral (or portions thereof) are serviced by a PSA Servicer (other than the Borrowers or any Servicer) under a Pooling and Servicing Agreement, (a) the standards for servicing such items of Collateral shall be those set forth in the applicable Pooling and Servicing Agreement, to the extent of the items covered therein, and otherwise as provided in this Agreement, (b) the Borrowers shall enforce its rights and interests under such agreements for and on behalf of itself and the Administrative Agent, (c) the Borrowers shall instruct the applicable PSA Servicer to deposit all Income received in respect of the Collateral into the Collection Account in accordance with Section 5.17 of this Agreement, (d) the Borrowers shall not take any action or fail to take 110 any action or consent to any action or inaction under any Pooling and Servicing Agreement where the effect of such action or inaction would prejudice or adversely affect the interests of the Administrative Agent, (e) the Administrative Agent shall be entitled to exercise any and all rights of the Borrowers or the holder of any such item of Collateral under such Pooling and Servicing Agreements as such rights relate to the Collateral, and (f) the Borrowers shall not consent to any amendment or modification to any Pooling and Servicing Agreement without the prior written consent of the Administrative Agent in its reasonable discretion.

Appears in 2 contracts

Samples: Credit Agreement (Northstar Realty), Credit Agreement (Northstar Realty)

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Pooling and Servicing Agreements. Notwithstanding the provisions of this Article IX, to the extent the Collateral (or portions thereof) are serviced by a PSA Servicer (other than the Borrowers or any Servicer) under a Pooling and Servicing Agreement, (a) the standards for servicing such items of Collateral shall be those set forth in the applicable Pooling and Servicing Agreement, to the extent of the items covered therein, and otherwise as provided in this Agreement, (b) the Borrowers shall enforce its rights and interests under such agreements for and on behalf of itself and the Administrative Agent, (c) the Borrowers shall instruct the applicable PSA Servicer to deposit all Income received in respect of the Collateral into the Collection Account in accordance with Section 5.17 of this Agreement, (d) the Borrowers shall not take any action or fail to take 110 any action or consent to any action or inaction under any Pooling and Servicing Agreement where the effect of such action or inaction would prejudice or adversely affect the interests of the Administrative Agent, (e) the Administrative Agent shall be entitled to exercise any and all rights of the Borrowers or the holder of any such item of Collateral under such Pooling and Servicing Agreements as such rights relate to the Collateral, and (f) the Borrowers shall not consent to any amendment or modification to any Pooling and Servicing Agreement without the prior written consent of the Administrative Agent in its reasonable discretion. The Administrative Agent agrees to promptly consider any request for consent under this Section 9.11.

Appears in 2 contracts

Samples: Credit Agreement (CapLease, Inc.), Credit Agreement (CapLease, Inc.)

Pooling and Servicing Agreements. Notwithstanding the provisions of this Article IXVI, to the extent the Collateral (or portions thereof) Purchased Items are serviced by a PSA Servicer (other than the Borrowers Seller or any Servicer) under a Pooling and Servicing Agreement, (a) the standards for servicing such items of Collateral those Purchased Items shall be those set forth in the applicable Pooling and Servicing Agreement, to the extent of the items covered therein, and otherwise as provided in this Agreement, (b) the Borrowers Seller shall enforce its rights and interests under such agreements for and on behalf of itself and the Administrative AgentPurchaser, (c) the Borrowers Seller shall instruct the applicable PSA Servicer to deposit all Income received in respect of the Collateral Purchased Items into the Collection Account in accordance with Section 5.17 within one (1) Business Day of this the date the PSA Servicer is obligated to make payments under the applicable Pooling and Servicing Agreement, (d) prior to a Termination Event, the Borrowers Seller shall not take any action or fail to take 110 any action or consent to any action or inaction under any Pooling and Servicing Agreement where the effect of such action or inaction would prejudice or adversely affect the interests of the Administrative AgentPurchaser, (e) the Administrative Agent Seller will not consent to any change or modification to any payment dates, interests rates, fees, payments of principal or interest, maturity dates, restrictions on Indebtedness or any monetary term or release any Borrowers, guarantors or collateral without the written consent of the Purchaser, and, (f) following a Termination Event, the Purchaser shall be entitled to exercise any and all rights of the Borrowers or the holder of any such item of Collateral Seller under such Pooling and Servicing Agreements as such rights relate to the Collateral, and (f) the Borrowers shall not consent to any amendment or modification to any Pooling and Servicing Agreement without the prior written consent of the Administrative Agent in its reasonable discretionPurchased Items.

Appears in 1 contract

Samples: Repurchase Agreement (Arbor Realty Trust Inc)

Pooling and Servicing Agreements. Notwithstanding the provisions of this Article IX, to the extent the Collateral (or portions thereof) are serviced by a PSA Servicer (other than the Borrowers or any Servicer) under a Pooling and Servicing Agreement, (a) the standards for servicing such items of Collateral shall be those set forth in the applicable Pooling and Servicing Agreement, to the extent of the items covered therein, and otherwise as provided in this Agreement, (b) the Borrowers shall enforce its rights and interests under such agreements for and on behalf of itself and the Administrative Agent, (c) the Borrowers shall instruct the applicable PSA Servicer to deposit all Income received in respect of the Collateral into the Collection Account in accordance with Section 5.17 of this Agreement, (d) the Borrowers shall not take any action or fail to take 110 any action or consent to any action or inaction under any Pooling and Servicing Agreement where the effect of such action or inaction would prejudice or adversely affect the interests of the Administrative Agent, (e) the Administrative Agent shall be entitled to exercise any and all rights of the Borrowers or the holder of any such item of Collateral under such Pooling and Servicing Agreements as such rights relate to the Collateral, and (f) the Borrowers shall not consent to any amendment or modification to any Pooling and Servicing Agreement without the prior written consent of the Administrative Agent in its reasonable discretion. The Administrative Agent agrees to promptly consider any request for consent under this Section 9.10.

Appears in 1 contract

Samples: Credit Agreement (Gramercy Capital Corp)

Pooling and Servicing Agreements. Notwithstanding the provisions of this Article IX, to the extent the Collateral (or portions thereof) are serviced by a PSA Servicer (other than the Borrowers or any Servicer) under a Pooling and Servicing Agreement, (a) the standards for servicing such items of Collateral shall be those set forth in the applicable Pooling and Servicing Agreement, to the extent of the items covered therein, and otherwise as provided in this Agreement, (b) the Borrowers shall enforce its rights and interests under such agreements for and on behalf of itself and the Administrative Agent, (c) the Borrowers shall instruct the applicable PSA 113 Servicer to deposit all Income received in respect of the Collateral into the Collection Account in accordance with Section 5.17 of this Agreement, (d) the Borrowers shall not take any action or fail to take 110 any action or consent to any action or inaction under any Pooling and Servicing Agreement where the effect of such action or inaction would prejudice or adversely affect the interests of the Administrative Agent, (e) the Administrative Agent shall be entitled to exercise any and all rights of the Borrowers or the holder of any such item of Collateral under such Pooling and Servicing Agreements as such rights relate to the Collateral, and (f) the Borrowers shall not consent to any amendment or modification to any Pooling and Servicing Agreement without the prior written consent of the Administrative Agent in its reasonable discretion.

Appears in 1 contract

Samples: Credit Agreement (Arbor Realty Trust Inc)

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Pooling and Servicing Agreements. Notwithstanding the provisions of this Article IXXIII, to the extent the Collateral (or portions thereof) are serviced by a PSA Servicer (other than the Borrowers Borrower or any Servicer) under a Pooling and Servicing Agreement, (a) the standards for servicing such items of Collateral shall be those set forth in the applicable Pooling and Servicing Agreement, to the extent of the items covered therein, and otherwise as provided in this Agreement, (b) the Borrowers Borrower shall enforce its rights and interests under such agreements for and on behalf of itself and the Administrative Agent, (c) the Borrowers Borrower shall instruct the applicable PSA Servicer to deposit all Income received in respect of the Collateral into the Collection Account in accordance with Section 5.17 6.1 of this Agreement, (d) the Borrowers Borrower shall not take any action or fail to take 110 any action or consent to any action or inaction under any Pooling and Servicing Agreement where the effect of such action or inaction would prejudice or adversely affect the interests of the Administrative Agent, (e) the Administrative Agent shall be entitled to exercise any and all rights of the Borrowers Borrower or the holder of any such item of Collateral under such Pooling and Servicing Agreements as such rights relate to the Collateral, and (f) the Borrowers Borrower shall not consent to any amendment or modification to any Pooling and Servicing Agreement without the prior written consent of the Administrative Agent in its reasonable discretion. The Administrative Agent agrees to promptly consider any request for consent under this Section 13.10.

Appears in 1 contract

Samples: Credit Agreement (CapLease, Inc.)

Pooling and Servicing Agreements. Notwithstanding the provisions of this Article IX, to the extent the Collateral (or portions thereof) are serviced by a PSA Servicer (other than the Borrowers or any Servicer) under a Pooling and Servicing Agreement, (a) the standards for servicing such items of Collateral shall be those set forth in the applicable Pooling and Servicing Agreement, to the extent of the items covered therein, and otherwise as provided in this Agreement, (b) the Borrowers shall enforce its rights and interests under such agreements for and on behalf of itself and the Administrative Agent, (c) the Borrowers shall instruct the applicable PSA Servicer to deposit all Income received in respect of the Collateral into the Collection Account in accordance with Section 5.17 of this Agreement, (d) the Borrowers shall not take any action or fail to take 110 any action or consent to any action or inaction under any Pooling and Servicing Agreement where the effect of such action or inaction would prejudice or adversely affect the interests of the Administrative Agent, (e) the Administrative Agent shall be entitled to exercise any and all rights of the Borrowers or the holder of any such item of Collateral under such Pooling and Servicing Agreements as such rights relate to the Collateral, and (f) the Borrowers shall not consent to any amendment or modification to any 110 Pooling and Servicing Agreement without the prior written consent of the Administrative Agent in its reasonable discretion.

Appears in 1 contract

Samples: Credit Agreement (Arbor Realty Trust Inc)

Pooling and Servicing Agreements. Notwithstanding the provisions of this Article IXVI, to the extent the Collateral Purchased Items (or portions thereof) are serviced by a PSA Servicer (other than the Borrowers Seller or any Servicer) under a Pooling and Servicing Agreement, (a) the standards for servicing such items of Collateral those Purchased Items shall be those set forth in the applicable Pooling and Servicing Agreement, to the extent of the items covered therein, and otherwise as provided in this Agreement, (b) the Borrowers Seller shall enforce its rights and interests under such agreements for and on behalf of itself and the Administrative AgentDeal Agent as agent for the Secured Parties, (c) the Borrowers Seller shall instruct the applicable PSA Servicer to deposit all Income received in respect of the Collateral Purchased Items into the Collection Account in accordance with Section 5.17 Subsection 5.1(f) of this Agreement, (d) the Borrowers Seller shall not take any action or fail to take 110 any action or consent to any action or inaction under any Pooling and Servicing Agreement where the effect of such action or inaction would prejudice or adversely affect the interests of the Administrative AgentDeal Agent as agent for the Secured Parties, (e) the Administrative Deal Agent as agent for the Secured Parties shall be entitled to exercise any and all rights of the Borrowers Seller or the holder of any such item of Collateral Purchased Asset under such Pooling and Servicing Agreements as such rights relate to the CollateralPurchased Items, and (f) the Borrowers Seller shall not consent to any amendment or modification to any Pooling and Servicing Agreement without the prior written consent of the Administrative Deal Agent in its reasonable discretion.

Appears in 1 contract

Samples: Master Repurchase Agreement (Municipal Mortgage & Equity LLC)

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