Common use of Section 317 Clause in Contracts

Section 317. The Primary Servicer shall promptly (but in no event later than thirty (30) days after the related inspection or collection, as applicable) forward to the Master Servicer a copy of all inspection reports prepared by the Primary Servicer. With respect to the Mortgage Loans serviced hereunder, the Primary Servicer shall inform the ground lessor that any notices of default under the related ground lease should thereafter be forwarded to the Master Servicer in addition to the Primary Servicer. The Primary Servicer may engage a third party at its cost to perform property inspections and prepare property inspection reports without first obtaining the consent of the Master Servicer; provided, however, that the Primary Servicer shall remain obligated and primarily liable to the Master Servicer for satisfactory completion of the inspections and reports as required by this Agreement. The Primary Servicer shall deposit all Prepayment Interest Shortfalls in the Primary Servicer Collection Account on each Primary Servicer Remittance Date without regard to any limitations described in Section 3.17(c) of the Pooling and Servicing Agreement. Notwithstanding the foregoing, the Primary Servicer shall have no obligation to deposit any amount set forth in the preceding sentence for Specially Serviced Loans or Mortgage Loans on which the Master Servicer or Special Servicer consented to the Primary Servicer allowing a Principal Prepayment on a date other that the applicable Due Date.