Common use of Rights of the Depositor and the Trustee in Respect of the Master Servicers and the Special Servicers Clause in Contracts

Rights of the Depositor and the Trustee in Respect of the Master Servicers and the Special Servicers. Each of the Master Servicers and the Special Servicers shall afford the Depositor and the Trustee, upon reasonable notice, during normal business hours access to all records maintained by it in respect of its rights and obligations hereunder and access to such of its officers as are responsible for such obligations. Upon reasonable request and as reasonably related to the performance of the obligations of the related Master Servicer and the related Special Servicer, as applicable, pursuant to this Agreement, each of the Master Servicers and the Special Servicers shall furnish the Depositor and the Trustee with its most recent publicly available annual audited financial statements (or, if not available, the most recent publicly available audited annual financial statements of its corporate parent) and such other information as is publicly available regarding its business, affairs, property and condition, financial or otherwise. Each of the Master Servicers and the Special Servicers may affix to any such information described in this Section 6.06 provided by it any disclaimer it deems appropriate in its reasonable discretion. The Depositor may, but is not obligated to, enforce the obligations of the Master Servicers or the Special Servicers hereunder and may, but is not obligated to, perform, or cause a designee to perform, any defaulted obligation of any Master Servicer or any Special Servicer hereunder or exercise the rights of a Master Servicer or a Special Servicer hereunder; provided that neither a Master Servicer nor a Special Servicer shall be relieved of any of its obligations hereunder by virtue of such performance by the Depositor or its designee. The Depositor shall not have any responsibility or liability for any action or failure to act by a Master Servicer or a Special Servicer and is not obligated to supervise the performance of any Master Servicer or any Special Servicer under this Agreement or otherwise.

Appears in 16 contracts

Samples: Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-C27), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-C26), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2014-Lc18)

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Rights of the Depositor and the Trustee in Respect of the Master Servicers and the Special Servicers. Each of the Master Servicers and the Special Servicers shall afford the Depositor and the Trustee, upon reasonable notice, during normal business hours access to all records maintained by it in respect of its rights and obligations hereunder and access to such of its officers as are responsible for such obligations. Upon reasonable request and as reasonably related to the performance of the obligations of the related Master Servicer and the related Special Servicer, as applicable, pursuant to this Agreement, each of the Master Servicers and the Special Servicers shall furnish the Depositor and the Trustee with its most recent publicly available annual audited financial statements (or, if not available, the most recent publicly available audited annual financial statements of its corporate parent) and such other information as is publicly available regarding its business, affairs, property and condition, financial or otherwise. Each of the Master Servicers Masters Servicer and the Special Servicers may affix to any such information described in this Section 6.06 provided by it any disclaimer it deems appropriate in its reasonable discretion. The Depositor may, but is not obligated to, enforce the obligations of the Master Servicers or the Special Servicers hereunder and may, but is not obligated to, perform, or cause a designee to perform, any defaulted obligation of any Master Servicer or any Special Servicer hereunder or exercise the rights of a Master Servicer or a Special Servicer hereunder; provided provided, that neither a Master Servicer nor a Special Servicer shall be relieved of any of its obligations hereunder by virtue of such performance by the Depositor or its designee. The Depositor shall not have any responsibility or liability for any action or failure to act by a Master Servicer or a Special Servicer and is not obligated to supervise the performance of any Master Servicer or any Special Servicer under this Agreement or otherwise.

Appears in 11 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2014-Lc14)

Rights of the Depositor and the Trustee in Respect of the Master Servicers and the Special Servicers. Each of the Master Servicers and the Special Servicers shall afford the Depositor and the Trustee, upon reasonable notice, during normal business hours access to all records maintained by it in respect of its rights and obligations hereunder and access to such of its officers as are responsible for such obligations. Upon reasonable request and as reasonably related to the performance of the obligations of the related Master Servicer and the related Special Servicer, as applicable, pursuant to this Agreement, each of the Master Servicers and the Special Servicers shall furnish the Depositor and the Trustee with its most recent publicly available annual audited financial statements (or, if not available, the most recent publicly available audited annual financial statements of its corporate parent) and such other information as is publicly available regarding its business, affairs, property and condition, financial or otherwise. Each of the Master Servicers and the Special Servicers may affix to any such information described in this Section 6.06 provided by it any disclaimer it deems appropriate in its reasonable discretion. The Depositor may, but is not obligated to, enforce the obligations of the Master Servicers or the Special Servicers hereunder and may, but is not obligated to, perform, or cause a designee to perform, any defaulted obligation of any Master Servicer or any Special Servicer hereunder or exercise the rights of a Master Servicer or a Special Servicer hereunder; provided provided, that neither a Master Servicer nor a Special Servicer shall be relieved of any of its obligations hereunder by virtue of such performance by the Depositor or its designee. The Depositor shall not have any responsibility or liability for any action or failure to act by a Master Servicer or a Special Servicer and is not obligated to supervise the performance of any Master Servicer or any Special Servicer under this Agreement or otherwise.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2014-C19)

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Rights of the Depositor and the Trustee in Respect of the Master Servicers and the Special Servicers. Each of the Master Servicers Servicer and the each Special Servicers Servicer shall afford the Depositor and Depositor, the Trustee, the Controlling Class Representative and each Rating Agency, upon reasonable notice, during normal business hours access to all records maintained by it in respect of its rights and obligations hereunder and with respect to any of the Mortgage Loans and, at mutually agreeable times, access to such of its officers as are responsible for such obligationsobligations ;provided, that the Controlling Class Representative shall have additional access to information as provided in Section 3.15(c) and Section 8.12(b) hereof. Upon reasonable request and as reasonably related to the performance of the obligations of the related request, each Master Servicer and the related each Special Servicer, as applicable, pursuant to this Agreement, each of the Master Servicers and the Special Servicers Servicer shall furnish the Depositor and the Trustee with its most recent publicly available annual audited financial statements (or, if not available, the most recent publicly available audited annual financial statements of its corporate parent) and such other information as is publicly available regarding its business, affairs, property and condition, financial or otherwise; provided that neither the Depositor nor the Trustee may disclose the contents of such financial statements or other information to non-affiliated third parties (other than accountants, attorneys, financial advisors and other representatives retained to help it evaluate such financial statements or other information), unless it is required to do so under applicable securities laws or is otherwise compelled to do so as a matter of law. Each of the Master Servicers Servicer and the each Special Servicers Servicer may affix to any such information described in this Section 6.06 6.05 provided by it any disclaimer it deems appropriate in its reasonable discretion. The Depositor may, but is not obligated to, enforce the obligations of the Master Servicers or the and Special Servicers hereunder and may, but is not obligated to, perform, or cause a designee to perform, any defaulted obligation of any the Master Servicer Servicers or any the Special Servicer Servicers hereunder or exercise the rights of a the Master Servicer Servicers or a the Special Servicer Servicers hereunder; provided provided, however, that neither a of the Master Servicer Servicers nor a the Special Servicer Servicers shall be relieved of any of its obligations hereunder by virtue of such performance by the Depositor or its designee. The Depositor shall not have any responsibility or liability for any action or failure to act by a the Master Servicer Servicers or a the Special Servicer Servicers and is not obligated to supervise the performance of any the Master Servicer Servicers or any the Special Servicer Servicers under this Agreement or otherwise.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Sec Corp Comm Mort Pass THR Cert Ser 2003-Cnp1)

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