Common use of Rights of Operating Adviser Clause in Contracts

Rights of Operating Adviser. (a) Notwithstanding anything to the contrary herein, including but not limited to Article 8 hereof, the Operating Adviser may advise the applicable Special Servicer with respect to the following actions of such Special Servicer and such Special Servicer will not be permitted to take any of the following actions with respect to any Mortgage Loan (other than the Non-Trust Serviced Pari Passu Loan) unless and until it has notified the Operating Adviser in writing and such Operating Adviser has not objected in writing (i) within 5 Business Days of having been notified thereof in respect of actions relating to non-Specially Serviced Mortgage Loans (which 5 Business Day period shall run concurrently with the time periods set forth in the Primary Servicing Agreement with respect to such actions) and (ii) within 10 Business Days of having been notified thereof in respect of actions relating to Specially Serviced Mortgage Loans and having been provided with all reasonably requested information with respect thereto (it being understood and agreed that if such written objection has not been received by the applicable Special Servicer within such 5 Business Day or 10 Business Day period, as applicable, then the Operating Adviser's approval will be deemed to have been given):

Appears in 3 contracts

Samples: Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2007-Iq13), Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2007-Iq13), Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2007-Iq13)

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Rights of Operating Adviser. (a) Notwithstanding anything to the contrary hereinherein (and, with respect to each Serviced Loan Group, subject to Section 9.40 and the related Intercreditor Agreement), including but not limited to Article 8 hereof, the Operating Adviser may advise the applicable Special Servicer with respect to the following actions of such the Special Servicer and such the Special Servicer will not be permitted to take any of the following actions with respect to any Mortgage Loan (other than the Non-Trust Serviced Pari Passu Loan) unless and until it has notified the Operating Adviser in writing and such Operating Adviser has not objected in writing (i) within 5 Business Days of having been notified thereof in respect of actions relating to non-Specially Serviced Mortgage Loans (which 5 Business Day period shall run concurrently with the time periods set forth in the Primary Servicing Agreement with respect to such actions) and (ii) within 10 Business Days of having been notified thereof in respect of actions relating to Specially Serviced Mortgage Loans and having been provided with all reasonably requested information with respect thereto (it being understood and agreed that if such written objection has not been received by the applicable Special Servicer within such 5 Business Day or 10 Business Day period, as applicable, then the Operating Adviser's approval will be deemed to have been given):

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Iq12), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Iq12)

Rights of Operating Adviser. (a) Notwithstanding With respect to each Mortgage Loan (other than the Non-Trust Serviced Pari Passu Loan) (or Serviced Loan Group, as applicable), notwithstanding anything to the contrary hereinherein (and, with respect to each Serviced Loan Group, subject to Section 9.40 and the related Co-Lender Agreement), including but not limited to Article 8 hereof, the Operating Adviser may advise the applicable Special Servicer with respect to the following actions of such Special Servicer and such Special Servicer will not be permitted to take any of the following actions with respect to any Mortgage Loan (other than the Non-Trust Serviced Pari Passu Loan) unless and until it has notified the Operating Adviser in writing and such Operating Adviser has not objected in writing (i) within 5 Business Days of having been notified thereof in respect of actions relating to non-Specially Serviced Mortgage Loans (which 5 Business Day period shall run concurrently with the time periods set forth in the Primary Servicing Agreement with respect to such actions) and (ii) within 10 Business Days of having been notified thereof in respect of actions relating to Specially Serviced Mortgage Loans and having been provided with all reasonably requested information with respect thereto (it being understood and agreed that if such written objection has not been received by the applicable such Special Servicer within such 5 Business Day or 10 Business Day period, as applicable, then the Operating Adviser's approval will be deemed to have been given):

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq15)

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Rights of Operating Adviser. (a) Notwithstanding With respect to each Mortgage Loan (other than a Non-Trust Serviced Pari Passu Loan) (or Serviced Loan Group, as applicable), notwithstanding anything to the contrary hereinherein (and, with respect to each Serviced Loan Group, subject to Section 9.40 and the related Co-Lender Agreement), including but not limited to Article 8 hereof, the Operating Adviser may advise the applicable Special Servicer with respect to the following actions of such Special Servicer and such Special Servicer will not be permitted to take any of the following actions with respect to any Mortgage Loan (other than the a Non-Trust Serviced Pari Passu Loan) unless and until it has notified the Operating Adviser in writing and such Operating Adviser has not objected in writing (i) within 5 Business Days of having been notified thereof in respect of actions relating to non-Specially Serviced Mortgage Loans (which 5 Business Day period shall run concurrently with the time periods set forth in the Primary Servicing Agreement with respect to such actions) and (ii) within 10 Business Days of having been notified thereof in respect of actions relating to Specially Serviced Mortgage Loans and having been provided with all reasonably requested information with respect thereto (it being understood and agreed that if such written objection has not been received by the applicable such Special Servicer within such 5 Business Day or 10 Business Day period, as applicable, then the Operating Adviser's approval will be deemed to have been given):

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2007-Iq16)

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