Common use of Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping Clause in Contracts

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Loan, the Special Servicer shall promptly give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 75 contracts

Samples: Pooling and Servicing Agreement (Benchmark 2019-B15 Mortgage Trust), Pooling and Servicing Agreement (UBS Commercial Mortgage Trust 2017-C1), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-C2)

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Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related any applicable Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) Holder, any applicable Consulting Party and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Loan, the Special Servicer shall promptly give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 30 contracts

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2020-Gc46), Pooling and Servicing Agreement (Bank 2022-Bnk42), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2020-Gsa2)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become that had otherwise been a Specially Performing Serviced Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof (or, if applicable, the Special Servicer shall immediately give notice thereof to the Special Master Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), and the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and Master Servicer shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan Mortgage Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of each related Servicing Transfer Event (or of notice of the occurrence of such Serviced Loan until Servicing Transfer Event, if applicable); provided, however, that if the Special Servicer has commenced the servicing of such Serviced Loaninformation, which shall occur upon the receipt documents and records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to delivery. The Special Servicer may conclusively rely on the Master Servicer. The 's determination (and the Master Servicer shall forward any notices it would otherwise send may conclusively rely on the Special Servicer's determination, as applicable) that a Servicing Transfer Event has occurred giving rise to the Mortgagor of such a Serviced Mortgage Loan's becoming a Specially Serviced Loan to the Mortgage Loan. The Special Servicer who shall send such notice not be liable or in default hereunder for any reasonable act or failure to act because of or arising out of the related MortgagorMaster Servicer's failure to deliver information, documents or records with respect to any Specially Serviced Mortgage Loan in accordance with the requirements hereof. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall within five (5) Business Days of such occurrence return the related Servicing File, together with any and all new information, documents and records relating to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion subject Mortgage Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Serviced Mortgage Loan upon its becoming a Corrected Mortgage Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 18 contracts

Samples: Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C4), Pooling and Servicing Agreement (Structured Asset Securities Corp Ii), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C8)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Multifamily Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event together with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File related Mortgage File, to the a Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the such Special Servicer with all information, documents (but excluding the original documents constituting the such Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Multifamily Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-ServicerSubservicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Multifamily Loan became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Multifamily Loan (i) if the Master Servicer does not exercise such discretion or (ii) until the Special Servicer has commenced the servicing of such Serviced Multifamily Loan, which shall occur upon the receipt by the Special Servicer of the Servicing Fileinformation, documents and records referred to in the preceding sentence. No later than 10 Business Days before the Master Servicer is required to deliver a copy of the Mortgage File to the Special Servicer, it shall review the Mortgage File and request from the Indenture Trustee any material documents that it is aware are missing from the Mortgage File to the extent that the Indenture Trustee has such documents. With respect to each such Serviced Multifamily Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Multifamily Loan is no longer a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence Servicer and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loansnotice, the Special Servicer’s 's obligation to service such Serviced Multifamily Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Multifamily Loan as a Serviced Mortgage Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 9 contracts

Samples: Servicing Agreement (Imh Assets Corp Impac CMB Trust Series 2003 11), Servicing Agreement (Imh Assets Corp Collateralized Asset Backed Bonds Ser 2004 3), Servicing Agreement (IMPAC CMB Trust Series 2004-10)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 9 contracts

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2015-Gc33), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2015-Gc32), Pooling and Servicing Agreement (Benchmark 2021-B23 Mortgage Trust)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially Serviced Loanand if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced the servicing of such Serviced may, as to any delinquent Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to occurrence of a Servicing Transfer Event with respect thereto, request and obtain the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorforegoing documents and information. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly give written notice thereof thereof, and return the related Servicing File, to the Master Servicer and upon giving such notice, and returning such Servicing File, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced Loan in accordance with this Agreement shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, the Master Servicer shall remain responsible for the billing and collection, accounting, data collection, reporting and other basic Master Servicer administrative functions with respect to make payments to the Special ServicerSpecially Serviced Mortgage Loans, upon such determination, provided that the Special Servicer shall instruct establish procedures for the Master Servicer as to the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts with and notices to Mortgagors and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master ServicerMortgaged Property.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc), Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc), Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially Serviced Loanand if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagordelivery. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicerthereof, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, and shall return the related Directing Holder (prior to the occurrence Servicing File and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andall other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc), Pooling and Servicing Agreement (First Union Commercial Mortgage Securities Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially or Serviced LoanLoan Combination, the applicable Master Servicer shall promptly give written notice thereof to the Subordinate Class Representative and the Majority Subordinate Certificateholder (and to the related Serviced Pari Passu Companion Loan Holder(s)), and if the applicable Master Servicer is not also the applicable Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination)applicable Master Servicer shall promptly give notice thereof to the applicable Special Servicer, the Operating Advisor, the Certificate Administrator, Trust Advisor and the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the applicable Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its best reasonable efforts to provide the applicable Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan or Serviced Loan Combination and reasonably requested by the applicable Special Servicer to enable it the applicable Special Servicer to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The information, documents and records to be delivered by the applicable Master Servicer to the applicable Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls (or, with respect to Co-op Mortgage Loans, maintenance schedules), Insurance Policies, UCC Financing Statements and tenant estoppels, to the extent they are in the possession of the applicable Master Servicer (or any Sub-Servicer thereof). The applicable Master Servicer shall use its best reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the applicable Master Servicer is not also the applicable Special Servicer, the applicable Special Servicer shall promptly immediately give written notice thereof to the applicable Master Servicer, the Trust Advisor, the Trustee, the Operating Advisor, Subordinate Class Representative and the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder Majority Subordinate Certificateholder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage LoanServiced Pari Passu Companion Loan Holder(s)) and, for posting and shall return the related Servicing File within five (5) Business Days to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon applicable Master Servicer. Upon giving such notice and the return of the returning such Servicing File to the applicable Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the applicable Special Servicer’s obligation to service such Serviced Mortgage Loan or Serviced Loan Combination and the applicable Special Servicer’s right to receive the Special Servicing Fee with respect to such Serviced Mortgage Loan or Serviced Loan Combination, shall terminate terminate, and the obligations of the applicable Master Servicer to service and administer such Serviced Mortgage Loan or Serviced Loan Combination shall resume. Notwithstanding anything herein to the contrary, in connection with the transfer to the applicable Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a Serviced result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the applicable Master Servicer with respect to any such Cross-Collateralized Mortgage Loan that is not upon its becoming a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determinationCorrected Mortgage Loan, the applicable Master Servicer and the applicable Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 8 contracts

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2013-Ubs1), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2013-C18), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2013-C18)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly give written notice thereof thereof, and return the related Servicing File, to the Master Servicer and upon giving such notice, and returning such Servicing File, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, the Master Servicer shall remain responsible for the accounting, data collection, reporting and other basic Master Servicer administrative functions with respect to make payments to the Special ServicerSpecially Serviced Mortgage Loans, upon such determination, provided that the Special Servicer shall instruct establish procedures for the Master Servicer as to the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts (including billing and collection) with and notices to Mortgagors and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly Mortgaged Property. Also notwithstanding anything herein to the contrary, in connection with the transfer to the Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master ServicerServicer with respect to any such Mortgage Loan upon its becoming a Corrected Mortgage Loan, the Master Servicer and the Special Servicer shall each transfer to the other, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Group.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc), Pooling and Servicing Agreement (Nationslink Funding Corp), Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially or Serviced LoanLoan Combination, the Master Servicer shall promptly give written notice thereof to the Subordinate Class Representative and the Majority Subordinate Certificateholder (and to the related Serviced Pari Passu Companion Loan Holder(s)), and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, Trust Advisor and the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its best reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan or Serviced Loan Combination and reasonably requested by the Special Servicer to enable it the Special Servicer to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The information, documents and records to be delivered by the Master Servicer to the Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls, Insurance Policies, UCC Financing Statements and tenant estoppels, to the extent they are in the possession of the Master Servicer (or any Sub-Servicer thereof). The Master Servicer shall use its best reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trust Advisor, the Trustee, the Operating Advisor, Subordinate Class Representative and the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder Majority Subordinate Certificateholder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage LoanServiced Pari Passu Companion Loan Holder(s)) and, for posting and shall return the related Servicing File within five (5) Business Days to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon Master Servicer. Upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan or Serviced Loan Combination and the Special Servicer’s right to receive the Special Servicing Fee with respect to such Serviced Mortgage Loan or Serviced Loan Combination, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan or Serviced Loan Combination shall resume. Notwithstanding anything herein to the contrary, in connection with the transfer to the Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a Serviced result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Cross-Collateralized Mortgage Loan that is not upon its becoming a Specially Serviced Loan shall resume. In additionCorrected Mortgage Loan, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-Nxs1), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2014-C25), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-C27)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with 258 respect to any Serviced Mortgage Loan has become a Specially or Serviced LoanLoan Combination, the Master Servicer shall promptly give written notice thereof to the Subordinate Class Representative and the Majority Subordinate Certificateholder (and to the related Serviced Companion Loan Holder(s)), and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, Trust Advisor and the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its best reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan or Serviced Loan Combination and reasonably requested by the Special Servicer to enable it the Special Servicer to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The information, documents and records to be delivered by the Master Servicer to the Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls, Insurance Policies, UCC Financing Statements and tenant estoppels, to the extent they are in the possession of the Master Servicer (or any Sub-Servicer thereof). The Master Servicer shall use its best reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trust Advisor, the Trustee, the Operating Advisor, Subordinate Class Representative and the Certificate Administrator, any Majority Subordinate Certificateholder (and to the related Serviced Companion Loan Holder, Holder(s)) and shall return the related Directing Holder Servicing File within five (prior 5) Business Days to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon Master Servicer. Upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan or Serviced Loan Combination and the Special Servicer’s right to receive the Special Servicing Fee with respect to such Serviced Mortgage Loan or Serviced Loan Combination, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan or Serviced Loan Combination shall resume. Notwithstanding anything herein to the contrary, in connection with the transfer to the Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a Serviced result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Cross-Collateralized Mortgage Loan that is not upon its becoming a Specially Serviced Loan shall resume. In additionCorrected Mortgage Loan, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-C29), Pooling and Servicing Agreement (COMM 2015-Lc19 Mortgage Trust), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-Lc20)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Mortgage Loan or Serviced Whole Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan CombinationWhole Loan), the Operating Advisor, the Certificate Administrator, the TrusteeTrustee and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such the Mortgage Loan or Serviced Whole Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Mortgage Loan and/or Serviced Companion Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Mortgage Loan and/or Serviced Companion Loan until the Special Servicer has commenced the servicing of such Mortgage Loan and/or Serviced Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Mortgage Loan and/or Serviced Companion Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Mortgage Loan and/or Serviced Companion Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan HolderHolder and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 -220- Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Mortgage Loan and/or Serviced Companion Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Mortgage Loan and/or Serviced Companion Loan shall terminate and the obligations of the Master Servicer to service and administer such Mortgage Loan and/or Serviced Companion Loan as a Mortgage Loan and/or Serviced Companion Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2015-Ubs8), Pooling and Servicing Agreement (CSAIL 2015-C3 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C3 Commercial Mortgage Trust)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Mortgage Loan or Serviced Whole Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan CombinationWhole Loan), the Operating Advisor, the Certificate Administrator, the TrusteeTrustee and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such the Mortgage Loan or Serviced Whole Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Mortgage Loan and/or Serviced Companion Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Mortgage Loan and/or Serviced Companion Loan until the Special Servicer has commenced the servicing of such Mortgage Loan and/or Serviced Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Mortgage Loan and/or Serviced Companion Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Mortgage Loan and/or Serviced Companion Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan HolderHolder and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Mortgage Loan and/or Serviced Companion Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Mortgage Loan and/or Serviced Companion Loan shall terminate and the obligations of the Master Servicer to service and administer such Mortgage Loan and/or Serviced Companion Loan as a Mortgage Loan and/or Serviced Companion Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc20), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2017-H1), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc22)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof notify the Trustee, the Special Servicer and the Controlling Class Representative (and with respect to a Loan Combination, the related Non-Trust Noteholder(s)), and if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and Master Servicer shall promptly deliver or cause to be delivered a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan the Mortgage Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicerthereto. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. After the related Mortgagor to continue to remit all occurrence of a Servicing Transfer Event, the Special Servicer shall collect payments in respect of on such Serviced Mortgage Loan and make remittances to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorin accordance with Section 3.04. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, Servicer and the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Controlling Class Representative (and with respect to a Loan HolderCombination, the related Directing Holder (prior to the occurrence Non-Trust Noteholder(s)), and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andServicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Trust 2005-Cki1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Trust 2005-Cki1), Pooling and Servicing Agreement (MLCFC Commercial Mortgage Trust Series 2006-1)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to the Subordinate Class Representative and the Majority Subordinate Certificateholder, and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, Trust Advisor and the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its best reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan and reasonably requested by the Special Servicer to enable it the Special Servicer to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The information, documents and records to be delivered by the Master Servicer to the Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls, Insurance Policies, UCC Financing Statements and tenant estoppels, to the extent they are in the possession of the Master Servicer (or any Sub-Servicer thereof). The Master Servicer shall use its best reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trust Advisor, the Trustee, the Operating Advisor, Subordinate Class Representative and the Certificate Administrator, any related Serviced Companion Loan Holder, Majority Subordinate Certificateholder and shall return the related Directing Holder Servicing File within five (prior 5) Business Days to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon Master Servicer. Upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan and the Special Servicer’s right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Cross-Collateralized Mortgage Loan upon its becoming a Corrected Mortgage Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2012-C6), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2012-C9), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2012-C6)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially or Serviced LoanLoan Combination, the Master Servicer shall promptly give written notice thereof to the Subordinate Class Representative (other than with respect to any Excluded Loan) and the Majority Subordinate Certificateholder (other than with respect to any Excluded Loan) (and to the related Serviced Companion Loan Holder(s)), and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, Trust Advisor and the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its best reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan or Serviced Loan Combination and reasonably requested by the Special Servicer to enable it the Special Servicer to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The information, documents and records to be delivered by the Master Servicer to the Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls, Insurance Policies, UCC Financing Statements and tenant estoppels, to the extent they are in the possession of the Master Servicer (or any Sub-Servicer thereof). The Master Servicer shall use its best reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trust Advisor, the Trustee, the Operating Advisor, Subordinate Class Representative (other than with respect to any Excluded Loan) and the Certificate Administrator, Majority Subordinate Certificateholder (other than with respect to any Excluded Loan) (and to the related Serviced Companion Loan Holder, Holder(s)) and shall return the related Directing Holder Servicing File within five (prior 5) Business Days to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon Master Servicer. Upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan or Serviced Loan Combination and the Special Servicer’s right to receive the Special Servicing Fee with respect to such Serviced Mortgage Loan or Serviced Loan Combination, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan or Serviced Loan Combination shall resume. Notwithstanding anything herein to the contrary, in connection with the transfer to the Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a Serviced result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Cross-Collateralized Mortgage Loan that is not upon its becoming a Specially Serviced Loan shall resume. In additionCorrected Mortgage Loan, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-C28), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-C29), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-C28)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become that had otherwise been a Specially Performing Serviced Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof (or, if applicable, the Special Servicer shall promptly give notice thereof to the Special Master Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), and the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and Master Servicer shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan Mortgage Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of each related Servicing Transfer Event (or of notice of the occurrence of such Serviced Loan until Servicing Transfer Event, if applicable); provided, however, that if the Special Servicer has commenced the servicing of such Serviced Loaninformation, which shall occur upon the receipt documents and records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to delivery. The Special Servicer may conclusively rely on the Master Servicer. The 's determination (and the Master Servicer shall forward any notices it would otherwise send may conclusively rely on the Special Servicer's determination, as applicable) that a Servicing Transfer Event has occurred giving rise to the Mortgagor of such a Serviced Mortgage Loan's becoming a Specially Serviced Loan to the Mortgage Loan. The Special Servicer who shall send such notice not be liable or in default hereunder for any reasonable act or failure to act because of or arising out of the related MortgagorMaster Servicer's failure to deliver information, documents or records with respect to any Specially Serviced Mortgage Loan in accordance with the requirements hereof. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall within five (5) Business Days of such occurrence return the related Servicing File, together with any and all new information, documents and records relating to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion subject Mortgage Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Serviced Mortgage Loan upon its becoming a Corrected Mortgage Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (LB Commercial Mortgage Trust 2007-C3), Pooling and Servicing Agreement (LB Commercial Mortgage Trust 2007-C3), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2007-C6)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Mortgage Loan or Serviced Whole Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan CombinationWhole Loan), the Operating Advisor, the Certificate Administrator, the TrusteeTrustee and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such the Mortgage Loan or Serviced Whole Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Mortgage Loan and/or Serviced Companion Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Mortgage Loan and/or Serviced Companion Loan until the Special Servicer has commenced the servicing of such Mortgage Loan and/or Serviced Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Mortgage Loan and/or Serviced Companion Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Mortgage Loan and/or Serviced Companion Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan HolderHolder and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Mortgage Loan and/or Serviced Companion Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Mortgage Loan and/or Serviced Companion Loan shall terminate and the obligations of the Master Servicer to service and administer such Mortgage Loan and/or Serviced Companion Loan as a Mortgage Loan and/or Serviced Companion Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (CSAIL 2015-C4 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C2 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C3 Commercial Mortgage Trust)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan CombinationWhole Loan), the Operating Advisor, the Certificate Administrator, the Trustee, the related any applicable Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) Holder, any applicable Consulting Party and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Loan, the Special Servicer shall promptly give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (BMO 2023-C7 Mortgage Trust), Pooling and Servicing Agreement (BMO 2023-C6 Mortgage Trust), Pooling and Servicing Agreement (BBCMS 2023-C20)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially or Serviced LoanLoan Combination, the Master Servicer shall promptly give written notice thereof to the Subordinate Class Representative and the Majority Subordinate Certificateholder (and to the related Serviced Pari Passu Companion Loan Holder(s)), and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, Trust Advisor and the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its best reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Mortgage Loan or Serviced Loan Combination and reasonably requested by the Special Servicer to enable it the Special Servicer to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The information, documents and records to be delivered by the Master Servicer to the Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls, Insurance Policies, UCC Financing Statements and tenant estoppels, to the extent they are in the possession of the Master Servicer (or any Sub-Servicer thereof). The Master Servicer shall use its best reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trust Advisor, the Trustee, the Operating Advisor, Subordinate Class Representative and the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder Majority Subordinate Certificateholder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage LoanServiced Pari Passu Companion Loan Holder(s)) and, for posting and shall return the related Servicing File within five (5) Business Days to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon Master Servicer. Upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Mortgage Loan or Serviced Loan Combination and the Special Servicer’s right to receive the Special Servicing Fee with respect to such Mortgage Loan or Serviced Loan Combination, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Mortgage Loan or Serviced Loan Combination shall resume. Notwithstanding anything herein to the contrary, in connection with the transfer to the Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a Serviced result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Cross-Collateralized Mortgage Loan that is not upon its becoming a Specially Serviced Loan shall resume. In additionCorrected Mortgage Loan, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2012-C8), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2012-Lc5), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2012-C8)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan or Whole Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan CombinationWhole Loan), the Operating Advisor, the Certificate Administrator, the TrusteeTrustee and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan or Whole Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan and/or Companion Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan and/or Companion Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan and/or Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Mortgage Loan and/or Companion Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan and/or Companion Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan HolderHolder and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Mortgage Loan and/or Companion Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan and/or Companion Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan and/or Companion Loan as a Serviced Mortgage Loan and/or Companion Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2014-Gc19), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc18), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc18)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage LoanEvent) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage LoanEvent) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc26), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2014-Gc25), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2014-Gc23)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Mortgage Loan or Serviced Whole Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan CombinationWhole Loan), the Operating Advisor, the Certificate Administrator, the TrusteeTrustee and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event (and other than with respect to any Excluded Loan then subject to an Exclusion Period), the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such the Mortgage Loan or Serviced Whole Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Mortgage Loan and/or Serviced Companion Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Mortgage Loan and/or Serviced Companion Loan until the Special Servicer has commenced the servicing of such Mortgage Loan and/or Serviced Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Mortgage Loan and/or Serviced Companion Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Mortgage Loan and/or Serviced Companion Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan HolderHolder and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with (and other than in respect of any Excluded Loan then subject to an Exclusion Period), the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Mortgage Loan and/or Serviced Companion Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Mortgage Loan and/or Serviced Companion Loan shall terminate and the obligations of the Master Servicer to service and administer such Mortgage Loan and/or Serviced Companion Loan as a Mortgage Loan and/or Serviced Companion Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (CSAIL 2015-C1 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C2 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C3 Commercial Mortgage Trust)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly give written notice thereof, and return the related Servicing File (or a copy thereof to the extent a copy had been received by the Special Servicer), to the Master Servicer and upon giving such notice, and returning such Servicing File (or copy thereof), to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, to make payments to the Master Servicer shall remain responsible for the accounting, data collection, reporting (based on reports delivered by the Special Servicer) and other basic Master Servicer administrative functions with respect to Specially Serviced Mortgage Loans, upon such determination, provided that the Special Servicer shall instruct establish procedures for the Master Servicer as to the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts (including billing and collection) with and notices to Mortgagors and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly Mortgaged Property. Also notwithstanding anything herein to the contrary, in connection with the transfer to the Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master ServicerServicer with respect to any such Mortgage Loan upon its becoming a Corrected Mortgage Loan, the Master Servicer and the Special Servicer shall each transfer to the other, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Group.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Mortgage Capital Funding Inc), Pooling and Servicing Agreement (Mortgage Capital Funding Inc), Pooling and Servicing Agreement (Mortgage Capital Funding Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially or Serviced LoanLoan Combination, the applicable Master Servicer shall promptly give written notice thereof to the Subordinate Class Representative and the Majority Subordinate Certificateholder (and to the related Serviced Pari Passu Companion Loan Holder(s)), and if the applicable Master Servicer is not also the applicable Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination)applicable Master Servicer shall promptly give notice thereof to the applicable Special Servicer, the Operating Advisor, the Certificate Administrator, Trust Advisor and the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the applicable Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its best reasonable efforts to provide the applicable Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan or Serviced Loan Combination and reasonably requested by the applicable Special Servicer to enable it the applicable Special Servicer to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The information, documents and records to be delivered by the applicable Master Servicer to the applicable Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls (or, with respect to Co-op Mortgage Loans, maintenance schedules), Insurance Policies, UCC Financing Statements and tenant estoppels, to the extent they are in the possession of the applicable Master Servicer (or any Sub-Servicer thereof). The applicable Master Servicer shall use its best reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the applicable Master Servicer is not also the applicable Special Servicer, the applicable Special Servicer shall promptly immediately give written notice thereof to the applicable Master Servicer, the Trust Advisor, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder Subordinate Class Representative and the Majority Subordinate Certificateholder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage LoanServiced Pari Passu Companion Loan Holder(s)) and, for posting and shall return the related Servicing File within five (5) Business Days to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon applicable Master Servicer. Upon giving such notice and the return of the returning such Servicing File to the applicable Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the applicable Special Servicer’s obligation to service such Serviced Mortgage Loan or Serviced Loan Combination and the applicable Special Servicer’s right to receive the Special Servicing Fee with respect to such Serviced Mortgage Loan or Serviced Loan Combination, shall terminate terminate, and the obligations of the applicable Master Servicer to service and administer such Serviced Mortgage Loan or Serviced Loan Combination shall resume. Notwithstanding anything herein to the contrary, in connection with the transfer to the applicable Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a Serviced result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the applicable Master Servicer with respect to any such Cross-Collateralized Mortgage Loan that is not upon its becoming a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determinationCorrected Mortgage Loan, the applicable Master Servicer and the applicable Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2013-C16), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2013-C13), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2013-C13)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially Serviced Loanand if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable best efforts to comply effect compliance with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced the servicing of such Serviced may, as to any delinquent Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send occurrence of a Servicing Transfer Event with respect thereto, request and obtain the foregoing documents and information in order to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorperform its duties described in Section 3.02(a). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall return the related Servicing File within 10 Business Days, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider ; and, upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 3 contracts

Samples: Servicing and Administration Agreement (Structured Asset Securities Corp Series 1997 Ll I), Servicing and Administration Agreement (Criimi Mae CMBS Corp), Servicing and Administration Agreement (Criimi Mae CMBS Corp)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially Serviced Loanor Loan Combination, the Master Servicer shall promptly give written notice thereof to the Subordinate Class Representative and the Majority Subordinate Certificateholder (and to the related Companion Loan Holder(s)), and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, Trust Advisor and the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its best reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan or Loan Combination and reasonably requested by the Special Servicer to enable it the Special Servicer to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The information, documents and records to be delivered by the Master Servicer to the Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls, Insurance Policies, UCC Financing Statements and tenant estoppels, to the extent they are in the possession of the Master Servicer (or any Sub-Servicer thereof). The Master Servicer shall use its best reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trust Advisor, the Trustee, the Operating Advisor, Subordinate Class Representative and the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder Majority Subordinate Certificateholder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage LoanCompanion Loan Holder(s)) and, for posting and shall return the related Servicing File within five (5) Business Days to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon Master Servicer. Upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan or Loan Combination and the Special Servicer’s right to receive the Special Servicing Fee with respect to such Mortgage Loan or Loan Combination, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan or Loan Combination shall resume. Notwithstanding anything herein to the contrary, in connection with the transfer to the Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a Serviced result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Cross-Collateralized Mortgage Loan that is not upon its becoming a Specially Serviced Loan shall resume. In additionCorrected Mortgage Loan, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2012-C7), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2012-C7), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2012-C8)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially Serviced Loanand if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable best efforts to comply effect compliance with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced the servicing of such Serviced may, as to any delinquent Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send occurrence of a Servicing Transfer Event with respect thereto, request and obtain the foregoing documents and information in order to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorperform its duties described in Section 3.02. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall return the related Servicing File within 10 Business Days, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider ; and, upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (DLJ Commercial Mortgage Corp), Pooling and Servicing Agreement (Criimi Mae CMBS Corp), Pooling and Servicing Agreement (Criimi Mae CMBS Corp)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become that had otherwise been a Specially Performing Serviced Loan, and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence Servicer and continuance of a Consultation Termination Event with respect to any Loan Group to the related Mortgage Loan) andCompanion Loan Noteholder, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, that if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to delivery. The Special Servicer may conclusively rely on the Master Servicer. The Master Servicer shall forward any notices it would otherwise send 's determination that a Servicing Transfer Event has occurred giving rise to the Mortgagor of such a Serviced Loan's becoming a Specially Serviced Loan to Loan. Neither the Master Servicer nor the Special Servicer who shall send such notice be liable or in default hereunder for any reasonable act or failure to act because of or arising out of the related Mortgagorother party's failure to deliver information, documents or records with respect to any Specially Serviced Loan in accordance with the requirements hereof. Upon determining that a Specially Serviced Loan has become a Corrected Loan, and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall within five Business Days of such occurrence return the related Servicing File, together with any and all new information, documents and records relating to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion subject Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Mortgage Loan upon its becoming a Corrected Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (GCCFC 2005-Gg3), Pooling and Servicing Agreement (Greenwich Capital Commercial Funding Corp. Commercial Mortgage Trust 2006-Gg7), Pooling and Servicing Agreement (Greenwich Capital Commercial Funding Corp)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor Controlling Class Representative and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Subsub-Servicerservicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing Fileinformation, documents and records referred to in the preceding sentence. With respect to each such Serviced Mortgage Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor Borrower to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. If GMAC Commercial Mortgage Corporation ceases to be the Master Servicer or the Special Servicer, the successor Master Servicer or Special Servicer, as applicable, may agree that, notwithstanding the preceding sentence, with respect to each Mortgage Loan that became a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Borrower to remit all payments in respect of such Mortgage Loan to the Special Servicer, provided that the payee in respect of such payments shall remain the Master Servicer. The Special Servicer shall remit to the Master Servicer any such payments received by it pursuant to the preceding sentence within one Business Day of receipt. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor Borrower of such a Specially Serviced Mortgage Loan to the Special Servicer who shall send such notice to the related MortgagorBorrower. Upon determining that no event has occurred and is continuing with respect to a Mortgage Loan that causes such Mortgage Loan to be a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider Servicer and, upon giving such notice and the return of the Servicing File to the Master Servicernotice, such Serviced Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan in accordance with the first proviso of the definition of Specially Serviced Mortgage Loans, the Special Servicer’s 's obligation to service such Serviced Mortgage Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Mortgage Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor Borrower has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor Borrower to remit all payments in respect of such Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Gs Mortgages Sec Corp Ii Com Mort Pas THR Cert Ser 1998-C1), Pooling and Servicing Agreement (Gs Mortgages Sec Corp Ii Com Mort Pas THR Cert Ser 1998-C1), Pooling and Servicing Agreement (Gs Mortgages Sec Corp Ii Com Mort Pas THR Cert Ser 1998-C1)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Mortgage Loan or Serviced Whole Loan (other than the Non-Serviced Mortgage Loan or the Companion Loan related thereto) has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the TrusteeControlling Class Representative, the related Directing Holder (prior to Companion Loan Noteholder(s) and the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider Trustee and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such the Mortgage Loan or Serviced Whole Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Subsub-Servicerservicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan and/or Companion Loan became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan and/or Companion Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan and/or Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Mortgage Loan and/or Companion Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan and/or Companion Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Mortgage Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, Trustee and any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage LoanNoteholder(s) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Mortgage Loan and/or Companion Loan shall cease to be a Specially Serviced Mortgage Loan in accordance with the first proviso of the definition of Specially Serviced Mortgage Loans, the Special Servicer’s 's obligation to service such Serviced Mortgage Loan and/or Companion Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan and/or Companion Loan as a Serviced Mortgage Loan and/or Companion Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2007-Gg10), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2006-Gg8), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2006-Gg8)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially or Serviced LoanLoan Combination, the Master Servicer shall promptly give written notice thereof to the Subordinate Class Representative and the Majority Subordinate Certificateholder (and to the related Serviced Pari Passu Companion Loan Holder(s)), and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, Trust Advisor and the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its best reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan or Serviced Loan Combination and reasonably requested by the Special Servicer to enable it the Special Servicer to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The information, documents and records to be delivered by the Master Servicer to the Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls (or, with respect to Co-op Mortgage Loans, maintenance schedules), Insurance Policies, UCC Financing Statements and tenant estoppels, to the extent they are in the possession of the Master Servicer (or any Sub-Servicer thereof). The Master Servicer shall use its best reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trust Advisor, the Trustee, the Operating Advisor, Subordinate Class Representative and the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder Majority Subordinate Certificateholder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage LoanServiced Pari Passu Companion Loan Holder(s)) and, for posting and shall return the related Servicing File within five (5) Business Days to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon Master Servicer. Upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan or Serviced Loan Combination and the Special Servicer’s right to receive the Special Servicing Fee with respect to such Serviced Mortgage Loan or Serviced Loan Combination, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan or Serviced Loan Combination shall resume. Notwithstanding anything herein to the contrary, in connection with the transfer to the Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a Serviced result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Cross-Collateralized Mortgage Loan that is not upon its becoming a Specially Serviced Loan shall resume. In additionCorrected Mortgage Loan, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (RBS Commercial Funding Inc.), Pooling and Servicing Agreement (SG Commercial Mortgage Securities, LLC), Pooling and Servicing Agreement (SG Commercial Mortgage Securities, LLC)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become that had otherwise been a Specially Performing Serviced Loan, and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence Servicer and continuance of a Consultation Termination Event with respect to any Loan Pair to the related Mortgage Loan) andCompanion Loan Noteholder, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, that if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to delivery. The Special Servicer may conclusively rely on the Master Servicer. The Master Servicer shall forward any notices it would otherwise send 's determination that a Servicing Transfer Event has occurred giving rise to the Mortgagor of such a Serviced Loan's becoming a Specially Serviced Loan to the Loan. The Special Servicer who shall send such notice not be liable or in default hereunder for any reasonable act or failure to act because of or arising out of the related MortgagorMaster Servicer's failure to deliver information, documents or records with respect to any Specially Serviced Loan in accordance with the requirements hereof. Upon determining that a Specially Serviced Loan has become a Corrected Loan, and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall within five Business Days of such occurrence return the related Servicing File, together with any and all new information, documents and records relating to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion subject Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Mortgage Loan upon its becoming a Corrected Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Greenwich Capital Comm Mort Pass THR Certs Ser 2003-C2), Pooling and Servicing Agreement (Greenwich Capital Comm Mort Pass THR Certs Ser 2003-C2)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the TrusteeTrustee and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Mortgage Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate AdministratorAdministrator and, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Mortgage Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Mortgage Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2012-Gcj9), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2012-Gcj9)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan or Whole Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any the related Serviced Companion Loan Holder Holders (in the case of a Serviced Loan CombinationWhole Loan), the Operating Advisor, the Certificate Administrator, the TrusteeTrustee and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan or Whole Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Subsub-Servicerservicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan and/or Companion Loan became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan and/or Companion Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan and/or Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Mortgage Loan and/or Companion Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan and/or Companion Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Mortgage Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced the Companion Loan HolderHolder(s) and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Mortgage Loan and/or Companion Loan shall cease to be a Specially Serviced Mortgage Loan in accordance with the first proviso of the definition of Specially Serviced Mortgage Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan and/or Companion Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan and/or Companion Loan as a Serviced Mortgage Loan and/or Companion Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2012-Gcj7), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2012-Gcj7)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer or Special Servicer, as applicable, shall promptly give written notice thereof to notify the Trustee and Master Servicer or Special Servicer, as applicable, and, if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior Master Servicer shall immediately deliver or cause to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable the related Companion Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and, if applicable, the Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced and, if applicable, the related Companion Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Wachovia Bank Commercial Mortgage Trust Series 2005-C22), Pooling and Servicing Agreement (Wachovia Bank Commercial Mortgage Trust Series 2004-C15)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Loan, the Special Servicer shall promptly give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.Master

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-C27), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2015-Gc27)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan or Whole Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan CombinationWhole Loan), the Operating Advisor, the Certificate Administrator, the TrusteeTrustee and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan or Whole Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan and/or Companion Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan and/or Companion Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan and/or Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Mortgage Loan and/or Companion Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan and/or Companion Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan HolderHolder and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Mortgage Loan and/or Companion Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan and/or Companion Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan and/or Companion Loan as a Serviced Mortgage Loan and/or Companion Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Gs Mortgage Securities Corp Ii), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the TrusteeTrustee and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Mortgage Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate AdministratorAdministrator and, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Mortgage Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Mortgage Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.shall

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2013-Gcj12), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2013-Gcj12)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Subsub-Servicerservicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing Fileinformation, documents and records referred to in the preceding sentence. With respect to each such Serviced Mortgage Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor Borrower to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. If GMAC Commercial Mortgage Corporation ceases to be the Master Servicer or the Special Servicer, the successor Master Servicer or Special Servicer, as applicable, may agree that, notwithstanding the preceding sentence, with respect to each Mortgage Loan that became a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Borrower to remit all payments in respect of such Mortgage Loan to the Special Servicer, provided that the payee in respect of such payments shall remain the Master Servicer. The Special Servicer shall remit to the Master Servicer any such payments received by it pursuant to the preceding sentence within one Business Day of receipt. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor Borrower of such a Specially Serviced Mortgage Loan to the Special Servicer who shall send such notice to the related MortgagorBorrower. Upon determining that no event has occurred and is continuing with respect to a Mortgage Loan that causes such Mortgage Loan to be a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider Servicer and, upon giving such notice and the return of the Servicing File to the Master Servicernotice, such Serviced Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan in accordance with the first proviso of the definition of Specially Serviced Mortgage Loans, the Special Servicer’s 's obligation to service such Serviced Mortgage Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Mortgage Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor Borrower has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor Borrower to remit all payments in respect of such Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Commercial Mortgage Pass Through Cert Series 1998 Gl Ii), Pooling and Servicing Agreement (Commercial Mortgage Pass Through Cert Series 1998 Gl Ii)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Mortgage Loan (other than a Non-Serviced Loan has become a Specially Mortgage Loan) or Serviced LoanB Note and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such the Mortgage Loan or Serviced Loan B Note and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced the servicing of such may, as to any delinquent Mortgage Loan (other than a Non-Serviced Mortgage Loan) or Serviced B Note, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Serviceroccurrence of a Servicing Transfer Event with respect thereto, request and obtain the foregoing documents and information. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. 190 Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly give written notice thereof thereof, and return the related Servicing File, to the Master Servicer and upon giving such notice, and returning such Servicing File, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Mortgage Loan or Serviced B Note, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan or Serviced B Note, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Mortgage Loan or Serviced Loan as a Serviced Loan that is not a Specially Serviced Loan B Note in accordance with this Agreement shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, the Master Servicer shall remain responsible for the billing and collection, accounting, data collection, reporting and other basic Master Servicer administrative functions with respect to make payments to the Special ServicerSpecially Serviced Mortgage Loans, upon such determinationprovided, that the Special Servicer shall instruct establish procedures for the Master Servicer as to the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts with and notices to Mortgagors and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor Mortgaged Property. The Master Servicer, upon the occurrence of a Servicing Transfer Event with respect to remit all payments in respect of any Serviced B Note, and the Special Servicer upon a determination that such Specially Serviced Mortgage Loan directly has become a Corrected Mortgage Loan, shall promptly give written notice thereof to the Master Servicerrelated Serviced B Note Holders.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (GMAC Commercial Mortgage Securities, Inc. Series 2005-C1 Trust), Pooling and Servicing Agreement (GMAC Commercial Mortgage Securities, Inc. Series 2005-C1 Trust)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon Within five Business Days after determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become that had otherwise been a Specially Performing Serviced Loan, and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof to the Special ServicerServicer and, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to any Loan Combination, to the related Mortgage Loan) andCompanion Loan Noteholder, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan Mortgage Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, that if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to delivery. The Special Servicer may conclusively rely on the Master Servicer. The Master Servicer shall forward any notices it would otherwise send 's determination that a Servicing Transfer Event has occurred giving rise to the Mortgagor of such a Serviced Loan's becoming a Specially Serviced Loan to Mortgage Loan. Neither the Master Servicer nor the Special Servicer who shall send such notice be liable or in default hereunder for any reasonable act or failure to act because of or arising out of the related Mortgagorother party's failure to deliver information, documents or records with respect to any Specially Serviced Mortgage Loan in accordance with the requirements hereof. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall within five (5) Business Days of such occurrence return the related Servicing File, together with any and all new information, documents and records relating to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion subject Mortgage Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Mortgage Loan upon its becoming a Corrected Mortgage Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (COBALT CMBS Commercial Mortgage Trust 2007-C3), Pooling and Servicing Agreement (COBALT CMBS Commercial Mortgage Trust 2007-C2)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof notify the Trustee, the Special Servicer and the Controlling Class Representative (and with respect to the Great Mall Loan Pair, the Great Mall B-Noteholder) and if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and Master Servicer shall promptly deliver or cause to be delivered a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan the Mortgage Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicerthereto. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. After the related Mortgagor to continue to remit all occurrence of a Servicing Transfer Event, the Special Servicer shall collect payments in respect of on such Serviced Mortgage Loan and make remittances to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorin accordance with Section 3.04. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, Servicer and the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder Controlling Class Representative (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this AgreementGreat Mall Loan Pair, the Rule 17g-5 Information Provider andGreat Mall B-Noteholder), upon giving such notice and shall return the return related Servicing File and all other information, documents and records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc Trust 2004-Mkb1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc Trust 2004-Mkb1)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan or the Loan Combination has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan the Non-Trust Mortgage Interest Holder (in the case of a Serviced the Loan Combination), the Operating Trust Advisor, the Certificate Administrator, the TrusteeTrustee and, during a Subordinate Control Period or a Collective Consultation Period, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) Subordinate Class Representative , and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Trust Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan or the Loan Combination and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Subsub-Servicerservicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan and/or Non-Trust Mortgage Interest became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan and/or Non-Trust Mortgage Interest until the Special Servicer has commenced the servicing of such Serviced LoanMortgage Loan and/or Non-Trust Mortgage Interest, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Mortgage Loan and/or Non-Trust Mortgage Interest that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan and/or Non-Trust Mortgage Interest to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Mortgage Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Trust Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Non-Trust Mortgage LoanInterest Holder(s) and, for posting to during a Subordinate Control Period or a Collective Consultation Period, the Rule 17g-5 Information Provider’s Website pursuant Subordinate Class Representative , and, subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Mortgage Loan and/or Non-Trust Mortgage Interest shall cease to be a Specially Serviced Mortgage Loan in accordance with the first proviso of the definition of Specially Serviced Mortgage Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan and/or Non-Trust Mortgage Interest shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan and/or Non-Trust Mortgage Interest as a Serviced Mortgage Loan and/or Non-Trust Mortgage Interest that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (RBS Commercial Funding Inc.), Pooling and Servicing Agreement (RBS Commercial Funding Inc.)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan or the Whole Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced the Companion Loan Holder (in the case of a Serviced Loan Combinationthe Whole Loan), the Operating Advisor, the Certificate Administrator, the TrusteeTrustee and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan or the Whole Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Subsub-Servicerservicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan and/or Companion Loan became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan and/or Companion Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan and/or Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Mortgage Loan and/or Companion Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan and/or Companion Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Mortgage Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced the Companion Loan HolderHolder(s) and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Mortgage Loan and/or Companion Loan shall cease to be a Specially Serviced Mortgage Loan in accordance with the first proviso of the definition of Specially Serviced Mortgage Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan and/or Companion Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan and/or Companion Loan as a Serviced Mortgage Loan and/or Companion Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2011-Gc5), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2011-Gc5)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan or Serviced Loan Combination has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder Controlling Class Representative (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage LoanEvent) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Mortgage Loan or Serviced Loan Combination and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Mortgage Loan and/or Serviced Companion Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Mortgage Loan and/or Serviced Companion Loan until the Special Servicer has commenced the servicing of such Mortgage Loan and/or Serviced Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Mortgage Loan and/or Serviced Companion Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Mortgage Loan and/or Serviced Companion Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder Controlling Class Representative (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage LoanEvent) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Mortgage Loan and/or Serviced Companion Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Mortgage Loan and/or Serviced Companion Loan shall terminate and the obligations of the Master Servicer to service and administer such Mortgage Loan and/or Serviced Companion Loan as a Mortgage Loan and/or Serviced Companion Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2014-Gc19), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc22)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Mortgage Loan (other than the Non-Serviced Loan has become a Specially Serviced LoanMortgage Loans), the Master Servicer or Special Servicer, as applicable, shall promptly notify the Trustee and Master Servicer or Special Servicer, as applicable, and, if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof immediately deliver or cause to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable the related Companion Loan, either in the Master Servicer’s or any of its directors’, officers’, employees’, affiliates’ or agents’ possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) 5 Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within 5 Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s obligation to service such Serviced Mortgage Loan, and, if applicable, the Companion Loan, and the Special Servicer’s right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced and, if applicable, the related Companion Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Distribution Instructions (Wachovia Bank Commercial Mortgage Trust Series 2007-C31), Intercreditor Agreement (Wachovia Bank Commercial Mortgage Trust Series 2007-C31)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Multifamily Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event together with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File related Mortgage File, to the a Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the such Special Servicer with all information, documents (but excluding the original documents constituting the such Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Multifamily Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-ServicerSubservicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Multifamily Loan became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Multifamily Loan (i) if the Master Servicer does not exercise such discretion or (ii) until the Special Servicer has commenced the servicing of such Serviced Multifamily Loan, which shall occur upon the receipt by the Special Servicer of the Servicing Fileinformation, documents and records referred to in the preceding sentence. No later than 10 Business Days before the Master Servicer is required to deliver a copy of the Mortgage File to the Special Servicer, it shall review the Mortgage File and request from the Indenture Trustee any material documents that it is aware are missing from the Mortgage File to the extent that the Indenture Trustee has such documents. With respect to each such Serviced Multifamily Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Multifamily Loan is no longer a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence Servicer and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loansnotice, the Special Servicer’s obligation to service such Serviced Multifamily Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Multifamily Loan as a Serviced Mortgage Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Servicing Agreement (Impac CMB Trust Series 2005-8), Servicing Agreement (IMH Assets Corp., Collateralized Asset-Backed Bonds, Series 2005-6)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become that had otherwise been a Specially Serviced Performing Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof (or, if applicable, the Special Servicer shall immediately give notice thereof to the Special Master Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), and the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and Master Servicer shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan Mortgage Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of each related Servicing Transfer Event (or of notice of the occurrence of such Serviced Loan until Servicing Transfer Event, if applicable); provided, however, that if the Special Servicer has commenced the servicing of such Serviced Loaninformation, which shall occur upon the receipt documents and records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to delivery. The Special Servicer may conclusively rely on the Master Servicer. The 's determination (and the Master Servicer shall forward any notices it would otherwise send may conclusively rely on the Special Servicer's determination, as applicable) that a Servicing Transfer Event has occurred giving rise to the Mortgagor of such a Mortgage Loan's becoming a Specially Serviced Loan to the Mortgage Loan. The Special Servicer who shall send such notice not be liable or in default hereunder for any reasonable act or failure to act because of or arising out of the related MortgagorMaster Servicer's failure to deliver information, documents or records with respect to any Specially Serviced Mortgage Loan in accordance with the requirements hereof. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall within five (5) Business Days of such occurrence return the related Servicing File, together with any and all new information, documents and records relating to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion subject Mortgage Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Mortgage Loan upon its becoming a Corrected Mortgage Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C3), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C1)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to the Subordinate Class Representative and the Majority Subordinate Certificateholder, and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, Trust Advisor and the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its best reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan and reasonably requested by the Special Servicer to enable it the Special Servicer to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The information, documents and records to be delivered by the Master Servicer to the Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls, Insurance Policies, UCC Financing Statements and tenant estoppels, to the extent they are in the possession of the Master Servicer (or any Sub-Servicer thereof). The Master Servicer shall use its best reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trust Advisor, the Trustee, the Operating Advisor, Subordinate Class Representative and the Certificate Administrator, any related Serviced Companion Loan Holder, Majority Subordinate Certificateholder and shall return the related Directing Holder Servicing File within five (prior 5) Business Days to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon Master Servicer. Upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan and the Special Servicer’s right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Cross-Collateralized Mortgage Loan upon its becoming a Corrected Mortgage Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2011-C5), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2011-C5)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan or Whole Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan CombinationWhole Loan), the Operating Advisor, the Certificate Administrator, the TrusteeTrustee and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan or Whole Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Subsub-Servicerservicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan and/or Companion Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan and/or Companion Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan and/or Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Mortgage Loan and/or Companion Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan and/or Companion Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan HolderHolder and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Mortgage Loan and/or Companion Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan and/or Companion Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan and/or Companion Loan as a Serviced Mortgage Loan and/or Companion Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2012-Gc8), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2012-Gc8)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become that had otherwise been a Specially Performing Serviced Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof (or, if applicable, the Special Servicer shall promptly give notice thereof to the Special Master Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), and the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and Master Servicer shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan Mortgage Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of each related Servicing Transfer Event (or of notice of the occurrence of such Serviced Loan until Servicing Transfer Event, if applicable); provided, however, that if the Special Servicer has commenced the servicing of such Serviced Loaninformation, which shall occur upon the receipt documents and records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to delivery. The Special Servicer may, absent manifest error, conclusively rely on the Master Servicer. The 's determination (and the Master Servicer shall forward any notices it would otherwise send may, absent manifest error, conclusively rely on the Special Servicer's determination, as applicable) that a Servicing Transfer Event has occurred giving rise to the Mortgagor of such a Serviced Mortgage Loan's becoming a Specially Serviced Loan to the Mortgage Loan. The Special Servicer who shall send such notice not be liable or in default hereunder for any reasonable act or failure to act because of or arising out of the related MortgagorMaster Servicer's failure to deliver information, documents or records with respect to any Specially Serviced Mortgage Loan in accordance with the requirements hereof. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall within five (5) Business Days of such occurrence return the related Servicing File, together with any and all new information, documents and records relating to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion subject Mortgage Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Serviced Mortgage Loan upon its becoming a Corrected Mortgage Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2007-C7), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2008-C1)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially or Serviced LoanLoan Combination, the Master Servicer shall promptly give written notice thereof to the Subordinate Class Representative and the Majority Subordinate Certificateholder (and to the related Serviced Pari Passu Companion Loan Holder(s) and the Loan-Specific Subordinate Class Representative (in the case of the St. Xxxxx Town Center Loan Combination) and the Loan-Specific Majority Subordinate Certificateholder (in the case of the St. Xxxxx Town Center Loan Combination)), and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, Trust Advisor and the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its best reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan or Serviced Loan Combination and reasonably requested by the Special Servicer to enable it the Special Servicer to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The information, documents and records to be delivered by the Master Servicer to the Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls, Insurance Policies, UCC Financing Statements and tenant estoppels, to the extent they are in the possession of the Master Servicer (or any Sub-Servicer thereof). The Master Servicer shall use its best reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trust Advisor, the Trustee, the Operating Advisor, Subordinate Class Representative and the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder Majority Subordinate Certificateholder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Serviced Pari Passu Companion Loan Holder(s) and the Loan-Specific Subordinate Class Representative (in the case of the St. Xxxxx Town Center Loan Combination)) and, for posting and shall return the related Servicing File within five (5) Business Days to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon Master Servicer. Upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan or Serviced Loan Combination and the Special Servicer’s right to receive the Special Servicing Fee with respect to such Serviced Mortgage Loan or Serviced Loan Combination, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan or Serviced Loan Combination shall resume. Notwithstanding anything herein to the contrary, in connection with the transfer to the Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a Serviced result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Cross-Collateralized Mortgage Loan that is not upon its becoming a Specially Serviced Loan shall resume. In additionCorrected Mortgage Loan, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2014-C25), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2014-C24)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to notify the Trustee, and if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination)Master Servicer shall immediately give notice thereof, the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver or cause to be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicerthereof, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Commercial Mortgage Pass Through Certiticates Series 1999 C2), Pooling and Servicing Agreement (First Union Commercial Mortgage Securities Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Loan commercial or mixed-use loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event together with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File related Mortgage File, to the a Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the such Special Servicer with all information, documents (but excluding the original documents constituting the such Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan commercial or mixed-use loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-ServicerSubservicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan commercial or mixed-use loan became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan commercial or mixed-use loan (i) if the Master Servicer does not exercise such discretion or (ii) until the Special Servicer has commenced the servicing of such Serviced Loancommercial or mixed-use loan, which shall occur upon the receipt by the Special Servicer of the Servicing Fileinformation, documents and records referred to in the preceding sentence. No later than 10 Business Days before the Master Servicer is required to deliver a copy of the Mortgage File to the Special Servicer, it shall review the Mortgage File and request from the Trustee any material documents that it is aware are missing from the Mortgage File to the extent that the Trustee has such documents. With respect to each such Serviced Loan commercial or mixed-use loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a commercial or mixed-use loan is no longer a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence Servicer and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loansnotice, the Special Servicer’s obligation to service such Serviced Loan commercial or mixed-use loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Loan commercial or mixed-use loan as a Serviced Mortgage Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Impac Secured Assets Corp), Pooling and Servicing Agreement (Impac Secured Assets Corp)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof notify the Trustee, the Special Servicer and the Controlling Class Representative (and with respect to the 00 Xxxx Xxxxxx Xxxxx Mortgage Loan, the WW Controlling Holder) (and with respect to any Loan Pair, the related Companion Holder) and if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and Master Servicer shall promptly deliver or cause to be delivered a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable, the related Companion Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicerthereto. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. After the related Mortgagor to continue to remit all occurrence of a Servicing Transfer Event, the Special Servicer shall collect payments in respect of on such Serviced Mortgage Loan and make remittances to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorin accordance with Section 3.04. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, Servicer and the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder Controlling Class Representative (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related 00 Xxxx Xxxxxx Xxxxx Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider andWW 172 Controlling Holder), upon giving such notice (and with respect to any Loan Pair, any related Companion Holder) and shall return the return related Servicing File and all other information, documents and records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan and, if applicable, the related Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan and, if applicable, the related Companion Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced Loan and, if applicable, the related Companion Loan, shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Comm Mort Ps THR Certs Ser 2003-Key1)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof notify the Trustee, the Special Servicer and the Controlling Class Representative (and with respect to a Loan Combination, the related Non-Trust Noteholder(s)), and if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and Master Servicer shall promptly deliver or cause to be delivered a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such the Serviced Loan Mortgage Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicerthereto. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. After the related Mortgagor to continue to remit all occurrence of a Servicing Transfer Event, the Special Servicer shall collect payments in respect of on such Serviced Mortgage Loan and make remittances to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorin accordance with Section 3.04. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, Servicer and the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Controlling Class Representative (and with respect to a Loan HolderCombination, the related Directing Holder (prior to the occurrence Non-Trust Noteholder(s)), and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andServicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Subsub-Servicerservicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing Fileinformation, documents and records referred to in the preceding sentence. With respect to each such Serviced Mortgage Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor Borrower to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. If GMAC Commercial Mortgage Corporation or AMRESCO Management, Inc. ceases to be the Master Servicer (with respect to GMACCM only) or the Special Servicer, respectively, the remaining party of the two and the successor Master Servicer or Special Servicer, as applicable, may agree that, notwithstanding the preceding sentence, with respect to each Mortgage Loan that became a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Borrower to remit all payments in respect of such Mortgage Loan to the Special Servicer, provided that the payee in respect of such payments shall remain the Master Servicer. The Special Servicer shall remit to the Master Servicer any such payments received by it pursuant to the preceding sentence within one Business Day of receipt. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor Borrower of such a Specially Serviced Mortgage Loan to the Special Servicer who shall send such notice to the related MortgagorBorrower. Upon determining that no event has occurred and is continuing with respect to a Mortgage Loan that causes such Mortgage Loan to be a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider Servicer and, upon giving such notice and the return of the Servicing File to the Master Servicernotice, such Serviced Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan in accordance with the first proviso of the definition of Specially Serviced Mortgage Loans, the Special Servicer’s 's obligation to service such Serviced Mortgage Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Mortgage Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor Borrower has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor Borrower to remit all payments in respect of such Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Gs Mortgage Securities Ii Series 1997-Gl I)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder Depositor (in the case of an LBHI Mortgage Loan) and UBSPF (in the case of a Serviced Loan CombinationUBS Mortgage Loan), and if the Operating AdvisorMaster Servicer is not also the Special Servicer, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and Master Servicer shall promptly also deliver a copy of the related 138 Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan Mortgage Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, that if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to delivery. The Special Servicer may conclusively rely on the Master Servicer. The Master Servicer shall forward any notices it would otherwise send 's determination that a Servicing Transfer Event has occurred giving rise to the Mortgagor of such a Mortgage Loan becoming a Specially Serviced Loan to the Mortgage Loan. The Special Servicer who shall send such notice not be liable or in default hereunder for any reasonable act or failure to act because of or arising out of the related MortgagorMaster Servicer's failure to deliver information, documents or records with respect to any Specially Serviced Mortgage Loan in accordance with the requirements hereof. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanLoan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall within five Business Days of such occurrence return the related Servicing File, together with any and all new information, documents and records relating to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related subject Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Mortgage Loan upon its becoming a Corrected Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Commercial Mortgage Pass-Through Certificates Series 2000-C4)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event together with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File related Mortgage File, to the Special Servicer and concurrently provide (with a copy of such Servicing File the notice to the Operating Advisor Controlling Class Representative) and the Master Servicer shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the such Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan became a 105 Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing Fileinformation, documents and records referred to in the preceding sentence. With respect to each such Serviced Mortgage Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor Borrower to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. The If Midland ceases to be the Master Servicer or the Special Servicer, Midland and the successor Master Servicer or Special Servicer, as applicable, may agree that, notwithstanding the preceding sentence, with respect to each Mortgage Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall forward any notices it would otherwise send instruct the related Borrower to the Mortgagor remit all payments in respect of such a Specially Serviced Mortgage Loan to the Special Servicer who Servicer, provided that the payee in respect of such payments shall send such notice to remain the related MortgagorMaster Servicer. Upon determining that no event has occurred and is continuing with respect to a Mortgage Loan that causes such Mortgage Loan to be a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence Servicer and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicernotice, such Serviced Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan in accordance with pursuant to the first proviso of to the definition of Specially Serviced LoansMortgage Loan, the Special Servicer’s 's obligation to service such Serviced Mortgage Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Mortgage Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor Borrower has been instructed, pursuant to the last sentence of the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor such Borrower to remit all payments in respect of such Mortgage Loan that is no longer a Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Commercial Mortgage Acceptance Corp)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Subsub-Servicerservicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing Fileinformation, documents and records referred to in the preceding sentence. With respect to each such Serviced Mortgage Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor Borrower to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. If GMAC Commercial Mortgage Corporation ceases to be the Master Servicer or the Special Servicer, the then current Master Servicer and Special Servicer may agree that, notwithstanding the preceding sentence, with respect to each Mortgage Loan that became a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Borrower to remit all payments in respect of such Mortgage Loan to the Special Servicer, provided that the payee in respect of such payments shall remain the Master Servicer. The Special Servicer shall remit to the Master Servicer any such payments received by it pursuant to the preceding sentence within one Business Day of receipt. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor Borrower of such a Specially Serviced Mortgage Loan to the Special Servicer who shall send such notice to the related MortgagorBorrower. Upon determining that no event has occurred and is continuing with respect to a Mortgage Loan that causes such Mortgage Loan to be a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider Servicer and, upon giving such notice and the return of the Servicing File to the Master Servicernotice, such Serviced Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan in accordance with the first proviso of the definition of Specially Serviced Mortgage Loans, the Special Servicer’s 's obligation to service such Serviced Mortgage Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Mortgage Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor Borrower has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor Borrower to remit all payments in respect of such Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Securities Corp Series 1997 Ll I)

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Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer or Special Servicer, as applicable, shall promptly give written notice thereof to notify the Trustee and Master Servicer or Special Servicer, as applicable, and, if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior Master Servicer shall immediately deliver or cause to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable the related Companion Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence Servicer and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and, if applicable, the Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced and, if applicable, the related Companion Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Commercial Mort Pass THR Certs Ser 2004-C10)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to notify the Trustee and, if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination)Master Servicer shall immediately give notice thereof, the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver or cause to be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable the related Companion Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and, if applicable, the Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced and, if applicable, the related Companion Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Commercial Mort Pass Thru Cert Ser 2002-C2)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan or Whole Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any the related Serviced Companion Loan Holder (in the case of a Serviced Loan CombinationInterest Holder(s), the Operating Advisor, the Certificate AdministratorTrustee and, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative, and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.14 of this Agreement, the Rule 17g-5 Information Provider and each Rating Agency shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan or Whole Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Subsub-Servicerservicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan and/or Companion Interest became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan and/or Companion Interest until the Special Servicer has commenced the servicing of such Serviced LoanMortgage Loan and/or Companion Interest, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Mortgage Loan and/or Companion Interest that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan and/or Companion Interest to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Mortgage Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage LoanInterest Holder(s) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.14 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Mortgage Loan and/or Companion Interest shall cease to be a Specially Serviced Mortgage Loan in accordance with the first proviso of the definition of Specially Serviced Mortgage Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan and/or Companion Interest shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan and/or Companion Interest as a Serviced Mortgage Loan and/or Companion Interest that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Gs Mortgage Securities Corp Ii)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. Without regard to whether the Master Servicer and the Special Servicer are the same Person, the Master Servicer shall immediately give notice of a Servicing Transfer Event in respect of any Serviced Mortgage Loan to the Controlling Class Representative. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced the servicing of such may, as to any delinquent Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send occurrence of a Servicing Transfer Event with respect thereto, request and obtain the foregoing documents and information in order to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorperform its duties described in Section 3.02. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Serviced Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Controlling Class Representative. In addition, if the Master Servicer is not also the Special Servicer, the TrusteeSpecial Servicer shall immediately give notice thereof, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, and shall return the related Directing Holder (prior Servicing File within five Business Days, to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider Master Servicer; and, upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Mortgage Loan upon its becoming a Corrected Serviced Mortgage Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Serviced Mortgage Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Securities Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. Without regard to whether the Master Servicer and the Special Servicer are the same Person, the Master Servicer shall immediately give notice of a Servicing Transfer Event in respect of any Serviced Mortgage Loan to the Controlling Class Representative. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced the servicing of such may, as to any delinquent Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send occurrence of a Servicing Transfer Event with respect thereto, request and obtain the foregoing documents and information in order to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorperform its duties described in SECTION 3.02. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Serviced Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Controlling Class Representative. In addition, if the Master Servicer is not also the Special Servicer, the TrusteeSpecial Servicer shall immediately give notice thereof, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, and shall return the related Directing Holder (prior Servicing File within five Business Days, to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider Master Servicer; and, upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Mortgage Loan upon its becoming a Corrected Serviced Mortgage Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; PROVIDED that no Cross-Collateralized Mortgage Loan may become a Corrected Serviced Mortgage Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become that had otherwise been a Specially Performing Serviced Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof (or, if applicable, the Special Servicer shall immediately give notice thereof to the Special Master Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), and the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and Master Servicer shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan Mortgage Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of each related Servicing Transfer Event (or of notice of the occurrence of such Serviced Loan until Servicing Transfer Event, if applicable); provided, however, that if the Special Servicer has commenced the servicing of such Serviced Loaninformation, which shall occur upon the receipt documents and records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to delivery. The Special Servicer may conclusively rely on the Master Servicer. The 's determination (and the Master Servicer shall forward any notices it would otherwise send may conclusively rely on the Special Servicer's determination, as applicable) that a Servicing Transfer Event has occurred giving rise to the Mortgagor of such a Serviced Mortgage Loan's becoming a Specially Serviced Loan to the Mortgage Loan. The Special Servicer who shall send such notice not be liable or in default hereunder for any reasonable act or failure to act because of or arising out of the related MortgagorMaster Servicer's failure to deliver information, documents or records with respect to any Specially Serviced Mortgage Loan in accordance with the requirements hereof. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall within five Business Days of such occurrence return the related Servicing File, together with any and all new information, documents and records relating to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion subject Mortgage Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Serviced Mortgage Loan upon its becoming a Corrected Mortgage Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Sec Corp Lb Ubs Com Mort Tr 2003-C8)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan Mortgage Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, that if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to delivery. The Special Servicer may conclusively rely on the Master Servicer. The Master Servicer shall forward any notices it would otherwise send 's determination that a Servicing Transfer Event has occurred giving rise to the Mortgagor of such a Mortgage Loan's becoming a Specially Serviced Loan to the Mortgage Loan. The Special Servicer who shall send such notice not be liable or in default hereunder for any reasonable act or failure to act because of or arising out of the related MortgagorMaster Servicer's failure to deliver information, documents or records with respect to any Specially Serviced Mortgage Loan in accordance with the requirements hereof. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Loan, and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall within five Business Days of such occurrence return the related Servicing File, together with any and all new information, documents and records relating to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related subject Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CDC Commercial Mortgage Trust 2002-Fx1)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to notify the Trustee and the Paying Agent, and if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination)Master Servicer shall immediately give notice thereof, the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver or cause to be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable the related Companion Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and, if applicable, the Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced and, if applicable, the related Companion Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Union Commercial Mortgage Pass THR Cer Ser 2001-C3)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially Serviced Loanor Companion Loan and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan or Companion Loan, as the case may be, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; PROVIDED, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to delivery. The Special Servicer may conclusively rely on the Master Servicer. The Master Servicer shall forward any notices it would otherwise send 's determination that a Servicing Transfer Event has occurred giving rise to the Mortgagor of such a Mortgage Loan or Companion Loan becoming a Specially Serviced Loan to the Loan. The Special Servicer who shall send such notice not be liable or in default hereunder for any reasonable act or failure to act because of or arising out of the related MortgagorMaster Servicer's failure to deliver information, documents or records with respect to any Specially Serviced Loan in accordance with the requirements hereof. Upon determining that a Specially Serviced Loan has become a Corrected LoanLoan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicerthereof, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, and shall within five Business Days of such occurrence return the related Directing Holder (prior to the occurrence Servicing File and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andall other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan or Companion Loan, as applicable, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan or Companion Loan, as applicable, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan or Companion Loan, as applicable shall resume. Notwithstanding anything herein to the contrary, in connection with the transfer to the Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a Serviced result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Mortgage Loan that is not upon its becoming a Specially Serviced Loan shall resume. In additionCorrected Loan, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; PROVIDED that no Cross-Collateralized Mortgage Loan may become a Corrected Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Sec Corp Com Mort Pas THR Certs Ser 2000-C3)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), Controlling Class Representative and the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor Trustee and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Subsub-Servicerservicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing Fileinformation, documents and records referred to in the preceding sentence. With respect to each such Serviced Mortgage Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor Borrower to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. If GMAC Commercial Mortgage Corporation ceases to be the Master Servicer or if Lennar ceases to be the Special Servicer, the successor Master Servicer or Special Servicer, as applicable, may agree that, notwithstanding the preceding sentence, with respect to each Mortgage Loan that became a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Borrower to remit all payments in respect of such Mortgage Loan to the Special Servicer, provided that the payee in respect of such payments shall remain the Master Servicer. The Special Servicer shall remit to the Master Servicer any such payments received by it pursuant to the preceding sentence within one Business Day of receipt. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor Borrower of such a Specially Serviced Mortgage Loan to the Special Servicer who shall send such notice to the related MortgagorBorrower. Upon determining that no event has occurred and is continuing with respect to a Mortgage Loan that causes such Mortgage Loan to be a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider Servicer and, upon giving such notice and the return of the Servicing File to the Master Servicernotice, such Serviced Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan in accordance with the first proviso of the definition of Specially Serviced Mortgage Loans, the Special Servicer’s 's obligation to service such Serviced Mortgage Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Mortgage Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor Borrower has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor Borrower to remit all payments in respect of such Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Gs Mortgage Sec Corp Ii Comm Mort Pa Thro Cer Ser 1999-C1)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially Serviced Loanand if the Master Servicer is not also the Special Servicer, the Master Servicer 101 shall promptly give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced the servicing of such Serviced may, as to any delinquent Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to occurrence of a Servicing Transfer Event with respect thereto, request and obtain the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorforegoing documents and information. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly give written notice thereof thereof, and return the related Servicing File, to the Master Servicer and upon giving such notice, and returning such Servicing File, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced Loan in accordance with this Agreement shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, the Master Servicer shall remain responsible for the billing and collection, accounting, data collection, reporting and other basic Master Servicer administrative functions with respect to make payments to the Special ServicerSpecially Serviced Mortgage Loans, upon such determination, provided that the Special Servicer shall instruct establish procedures for the Master Servicer as to the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts with and notices to Mortgagors and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master ServicerMortgaged Property.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to notify the Trustee and the Paying Agent, and if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination)Master Servicer shall immediately give notice thereof, the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver or cause to be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Union National Bank Com Mort Pas THR Cert Ser 2002 C1)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the TrusteeTrustee and, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Mortgage Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate AdministratorAdministrator and, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to Event, the related Mortgage Loan) Controlling Class Representative and, for posting to the Rule 17g-5 Information Provider’s Website pursuant subject to Section 12.13 11.13 of this Agreement, the Rule 17g-5 Information Provider each Rating Agency and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Mortgage Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Mortgage Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Mortgage Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2013-Gcj14)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Mortgage Loan (other than the 2004-C15 Serviced Loan has become a Specially Serviced LoanMortgage Loans), the Master Servicer or Special Servicer, as applicable, shall promptly notify the Trustee and Master Servicer or Special Servicer, as applicable, and, if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof immediately deliver or cause to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable the related Companion Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and, if applicable, the Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced and, if applicable, the related Companion Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Bank Commercial Mortgage Trust Series 2005-C16)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof thereof, and deliver the related Servicing File and, to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to extent received from the related Mortgage Loan) andLoan Seller, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing related Mortgage File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced the servicing of such Serviced may, with respect to any delinquent Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send occurrence of a Servicing Transfer Event with respect thereto, request and obtain the foregoing documents and information in order to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorperform its duties described in Section 3.02. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly give written notice thereof, and return the related Servicing File (or a copy thereof to the extent a copy had been received by the Special Servicer), to the Master Servicer (using its reasonable efforts to do so within five (5) Business Days) and upon giving such notice, and returning such Servicing File (or copy thereof), to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, to make payments to the Master Servicer shall remain responsible for the accounting, data collection, reporting (based on reports delivered by the Special Servicer) and other basic Master Servicer administrative functions with respect to Specially Serviced Mortgage Loans, upon such determination, provided that the Special Servicer shall instruct establish procedures for the Master Servicer as to the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts (including billing and collection) with and notices to Borrowers and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly Mortgaged Property. Also notwithstanding anything herein to the contrary, in connection with the transfer to the Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer.Servicer with respect to any such Mortgage Loan upon its becoming a Corrected Mortgage Loan, the Master Servicer and the Special Servicer shall each transfer to the other, as and when applicable, the

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Com Mor Pas THR Cer Se 1999-C1)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer or Special Servicer, as applicable, shall promptly give written notice thereof to notify the Trustee and Master Servicer or Special Servicer, as applicable, and, if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior Master Servicer shall immediately deliver or cause to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable the related Companion Loan, either in the Master Servicer’s or any of its directors’, officers’, employees’, affiliates’ or agents’ possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special 153 Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s obligation to service such Serviced Mortgage Loan, and, if applicable, the Companion Loan, and the Special Servicer’s right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced and, if applicable, the related Companion Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Bank Commercial Mortgage Trust Series 2006-C24)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially Serviced or Xxxxxxxx Fashion Center Companion Loan (other than the Oakbrook Center Mortgage Loan) and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan or Xxxxxxxx Fashion Center Companion Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced may, as to any delinquent Mortgage Loan or Xxxxxxxx Fashion Center Companion Loan (other than the servicing of such Serviced Oakbrook Center Mortgage Loan), which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to occurrence of a Servicing Transfer Event with respect thereto, request and obtain the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorforegoing documents and information. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly give written notice thereof thereof, and return the related Servicing File, to the Master Servicer and upon giving such notice, and returning such Servicing File, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Mortgage Loan or Xxxxxxxx Fashion Center Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan or Xxxxxxxx Fashion Center Companion Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced or Xxxxxxxx Fashion Center Companion Loan that is not a Specially Serviced Loan in accordance with this Agreement shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, the Master Servicer shall remain responsible for the billing and collection, accounting, data collection, reporting and other basic Master Servicer administrative functions with respect to make payments to the Special ServicerSpecially Serviced Mortgage Loans, upon such determinationprovided, that the Special Servicer shall instruct establish procedures for the Master Servicer as to 171 the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts with and notices to Mortgagors and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor Mortgaged Property. The Master Servicer, upon the occurrence of a Servicing Transfer Event with respect to remit all payments in respect of the Xxxxxxxx Fashion Center A/B Loan, and the Special Servicer upon a determination that such Specially Serviced Mortgage Loan directly has become a Corrected Mortgage Loan, shall promptly give written notice thereof to the Master ServicerXxxxxxxx Fashion Center Companion Holders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Controlling Class Representative, and if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination)such Master Servicer shall immediately give notice thereof, the Operating Advisor, the Certificate Administrator, the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the such Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. To the extent such is in the possession of the Master Servicer or any Sub-Servicer thereof, the information, documents and records to be delivered by such Master Servicer to the Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls, title insurance policies, UCC's and tenant estoppels. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event and in any event shall continue to act as the Master Servicer and administrator shall deliver a copy of such Serviced Loan until the related Servicing File in its possession to the Special Servicer within such five Business Day period. Upon determining that a Servicing Transfer Event has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loanoccurred, the Master Servicer shall instruct review the related Mortgagor to continue to remit all payments in respect of Servicing File and request from the Trustee any material documents that it is aware are missing from such Serviced Servicing File. Any B Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such constitute a Specially Serviced Mortgage Loan to for which the Special Servicer who shall send such notice to is responsible for so long as the related MortgagorA Loan is a Specially Serviced Mortgage Loan. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the such Special Servicer shall promptly immediately give written notice thereof thereof, and shall return the related Servicing File within five Business Days, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider ; and, upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and such Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Mortgage Loan upon its becoming a Corrected Mortgage Loan, upon such determination, the Master Servicer and such Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse Commercial Mortgage Trust Series 2006-C3)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly give written notice thereof thereof, and return the related Servicing File, to the Master Servicer and upon giving such notice, and returning such Servicing File, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, the Master Servicer shall remain responsible for the accounting, data collection, reporting and other basic Master Servicer administrative functions with respect to make payments to the Special ServicerSpecially Serviced Mortgage Loans, upon such determination, provided that the Special Servicer shall instruct establish procedures for the Master Servicer as to the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts (including billing and collection) with and notices to Mortgagors and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master ServicerMortgaged Property.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage Capital Funding Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related any applicable Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) Holder, any applicable Consulting Party and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. Upon determining that a Specially Serviced Loan has become a Corrected Loan, the Special Servicer shall promptly give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 12.12 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s obligation to service such Serviced Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (BMO 2022-C1 Mortgage Trust)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to notify the Trustee and if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination)Master Servicer shall immediately give notice thereof, the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver or cause to be delivered a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable, the related Companion Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, and shall return the related Directing Holder (prior to the occurrence Servicing File and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andall other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan and, if applicable, the related Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan and, if applicable, the related Companion Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced Loan and, if applicable, the related Companion Loan, shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mort Inv Inc Com MRT Pas THR Cert Ser 2002 Mw1)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Mortgage Loan (other than a Non-Serviced Loan has become a Specially Serviced Mortgage Loan), the Master Servicer or Special Servicer, as applicable, shall promptly notify the Trustee and Master Servicer or Special Servicer, as applicable, and, if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof immediately deliver or cause to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable the related Companion Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and, if applicable, the Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced and, if applicable, the related Companion Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Bank Commercial Mortgage Trust Series 2005-C20)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the applicable Master Servicer shall promptly give written notice thereof to the or Special Servicer, any related Serviced Companion Loan Holder whichever made such determination, shall promptly notify the other such party, the Controlling Class Representative and the Trustee (and, in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to Serviced Non-Trust Mortgage Loan Noteholder(s)), and if the occurrence and continuance of a Consultation Termination Event with respect to applicable Master Servicer is not also the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this AgreementSpecial Servicer, the Rule 17g-5 Information Provider and applicable Master Servicer shall promptly immediately deliver or cause to be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such the Serviced Loan Mortgage Loan, either in the applicable Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the applicable Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The applicable Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the applicable Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The applicable Master Servicer shall forward any notices it would otherwise send continue to receive payments on the Mortgagor of such a Specially subject Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the applicable Master Servicer is not also the Special Servicer, the Special Servicer shall promptly give written notice thereof to the applicable Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior Servicer and shall use reasonable efforts to the occurrence and continuance of a Consultation Termination Event with respect to return the related Mortgage Loan) and, for posting File to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice Custodian and the return related Servicing File, together with all other information, documents and records that were not part of the Servicing File when it was delivered to the Special Servicer, to the applicable Master Servicer (or such other Person as may be directed by the applicable Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso ) within five (5) Business Days of the definition of Specially Serviced Loansoccurrence. Upon giving such notice, and returning such Servicing File, to the applicable Master Servicer (or such other Person as may be directed by the applicable Master Servicer), the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Serviced Mortgage Loan, shall terminate terminate, and the obligations of the applicable Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2008-C7)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the each related Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related MortgagorTransfer Event. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly give written notice thereof, and return the related Servicing File (or a copy thereof to the extent a copy had been received by the Special Servicer), to the Master Servicer and upon giving such notice, and returning such Servicing File (or copy thereof), to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, to make payments to the Master Servicer shall remain responsible for the accounting, data collection, reporting (based on reports delivered by the Special Servicer) and other basic Master Servicer administrative functions with respect to Specially Serviced Mortgage Loans, upon such determination, provided that the Special Servicer shall instruct establish procedures for the Master Servicer as to the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts (including billing and collection) with and notices to Borrowers and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly Mortgaged Property. Also notwithstanding anything herein to the contrary, in connection with the transfer to the Special Servicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master ServicerServicer with respect to any such Mortgage Loan upon its becoming a Corrected Mortgage Loan, the Master Servicer and the Special Servicer shall each transfer to the other, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at any time that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Group.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage Capital Funding Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the applicable Master Servicer or Special Servicer, whichever made such determination, shall promptly give written notice thereof to notify the other such party, the Controlling Class Representative and the Trustee (and, in the case of an A/B Loan Combination, the related B-Noteholder(s)), and if the applicable Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior applicable Master Servicer shall immediately deliver or cause to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such the Serviced Loan Mortgage Loan, either in the applicable Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the applicable Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The applicable Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the applicable Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The applicable Master Servicer shall forward any notices it would otherwise send continue to receive payments on the Mortgagor of such a Specially subject Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the applicable Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the applicable Master ServicerServicer and, within five (5) Business Days of the Trusteeoccurrence, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) and, for posting File to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice Custodian and the return related Servicing File, together with all other information, documents and records that were not part of the Servicing File when it was delivered to the Special Servicer, to the applicable Master Servicer (or such other Person as may be directed by the applicable Master Servicer). Upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the applicable Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced Loansapplicable Master Servicer), the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Serviced Mortgage Loan, shall terminate terminate, and the obligations of the applicable Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2006-C5)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly give written notice thereof to notify the Trustee, and if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination)Master Servicer shall immediately give notice thereof, the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver or cause to be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable, the Crowne Plaza Companion Loan either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagor. 133 Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicerthereof, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan and, if applicable, the Crowne Plaza Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan and, if applicable, the Crowne Plaza Companion Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced and, if applicable, the Crowne Plaza Companion Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Union Commercial Mortgage Securities Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Mortgage Loan, the Master Servicer or Special Servicer, as applicable, shall promptly give written notice thereof to notify the Trustee and Master Servicer or Special Servicer, as applicable, and, if the Master Servicer is not also the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior Master Servicer shall immediately deliver or cause to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable the related Companion Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) [__] Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within [__] Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and, if applicable, the Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced and, if applicable, the related Companion Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Commercial Mortgage Securities Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Mortgage Loan (other than the Mall at Millenia Mortgage Loan, the Xxxxx Fargo Tower Mortgage Loan and the Geneva Commons Mortgage Loan) or Serviced Companion Loan has become a Specially Serviced Loanand if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such the Mortgage Loan or Serviced Companion Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced may, as to any delinquent Mortgage Loan (other than the servicing of such Serviced Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Mall at Millenia Mortgage Loan, the Master Servicer shall instruct Xxxxx Fargo Tower Mortgage Loan and the related Mortgagor to continue to remit all payments in respect of such Geneva Commons Mortgage Loan) or Serviced Loan Companion Loan, prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to occurrence of a Servicing Transfer Event with respect thereto, request and obtain the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorforegoing documents and information. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly give written notice thereof thereof, and return the related Servicing File, to the Master Servicer and upon giving such notice, and returning such Servicing File, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Mortgage Loan or Serviced Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan or Serviced Companion Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Mortgage Loan or Serviced Companion Loan as a Serviced Loan that is not a Specially Serviced Loan in accordance with this Agreement shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, the Master Servicer shall remain responsible for the billing and collection, accounting, data collection, reporting and other basic Master Servicer administrative functions with respect to make payments to the Special ServicerSpecially Serviced Mortgage Loans, upon such determinationprovided, that the Special Servicer shall instruct establish procedures for the Master Servicer as to the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts with and notices to Mortgagors and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor Mortgaged Property. The Master Servicer, upon the occurrence of a Servicing Transfer Event with respect to remit all payments in respect of any Serviced Companion Loan, and the Special Servicer upon a determination that such Specially Serviced Mortgage Loan directly has become a Corrected Mortgage Loan, shall promptly give written notice thereof to the Master Servicerrelated Serviced Companion Loan Holders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Loan has become a Specially Serviced Loan, the Master Servicer shall promptly give written notice thereof to the or Special Servicer, any related Serviced Companion Loan Holder whichever made such determination, shall promptly notify the other such party, the Controlling Class Representative and the Trustee (and, in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to Non-Trust Loan Noteholder(s)), and if the occurrence and continuance of a Consultation Termination Event with respect to Master Servicer is not also the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this AgreementSpecial Servicer, the Rule 17g-5 Information Provider and Master Servicer shall promptly immediately deliver or cause to be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such the Serviced Loan Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable 157 efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to receive payments on the Mortgagor of such a Specially subject Serviced Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Loan has become a Corrected LoanLoan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master ServicerServicer and, within five (5) Business Days of the Trusteeoccurrence, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) and, for posting File to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice Custodian and the return related Servicing File, together with all other information, documents and records that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer). Upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Loan Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Serviced Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2006-C4)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially Serviced Loanor the Companion Loan and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan or Companion Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced the servicing of such Serviced may, as to any delinquent Mortgage Loan or Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to occurrence of a Servicing Transfer Event with respect thereto, request and obtain the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorforegoing documents and information. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly give written notice thereof thereof, and return the related Servicing File, to the Master Servicer and upon giving such notice, and returning such Servicing File, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Mortgage Loan or Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan or Companion Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced or Companion Loan that is not a Specially Serviced Loan in accordance with this Agreement shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, the Master Servicer shall remain responsible for the billing and collection, accounting, data collection, reporting and other basic Master Servicer administrative functions with respect to make payments to the Special ServicerSpecially Serviced Mortgage Loans, upon such determination, provided that the Special Servicer shall instruct establish procedures for the Master Servicer as to the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts with and notices to Mortgagors and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master ServicerMortgaged Property.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Mortgage Loan (other than the 2004-C10 Serviced Loan has become a Specially Serviced Mortgage Loan), the Master Servicer or Special Servicer, as applicable, shall promptly notify the Trustee and Master Servicer or Special Servicer, as applicable, and, if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof immediately deliver or cause to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable the related Companion Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and, if applicable, the Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced and, if applicable, the related Companion Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Bank Commercial Mortgage Trust Series 2004-C12)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially Serviced Loanand if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and shall deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. To the extent such is in the possession of the Master Servicer or any Sub-Servicer thereof, the information, documents and records to be delivered by the Master Servicer to the Special Servicer pursuant to the prior sentence shall include, but not be limited to, financial statements, appraisals, environmental/engineering reports, leases, rent rolls, title insurance policies, UCC's and tenant estoppels. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence two sentences within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced the servicing of such Serviced may, as to any delinquent Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send occurrence of a Servicing Transfer Event with respect thereto, request and obtain the foregoing documents and information in order to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorperform its duties described in Section 3.02. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall return the related Servicing File within five Business Days, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider ; and, upon giving such notice and the return of the returning such Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Mortgage Loan upon its becoming a Corrected Mortgage Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenwich Capital Commercial Funding Corp)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially Serviced Loan(other than the Mesa Grande Loan A2) and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan and in any event shall continue to act as Master Servicer and administrator occurrence of such Serviced Loan until the each related Servicing Transfer Event. The Special Servicer has commenced may, as to any delinquent Mortgage Loan (other than the servicing of such Serviced LoanMesa Grande Loan A2), which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to occurrence of a Servicing Transfer Event with respect thereto, request and obtain the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorforegoing documents and information. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly give written notice thereof thereof, and return the related Servicing File, to the Master Servicer and upon giving such notice, and returning such Servicing File, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced Loan in accordance with this Agreement shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, the Master Servicer shall remain responsible for the billing and collection, accounting, data collection, reporting and other basic Master Servicer administrative functions with respect to make payments to the Special ServicerSpecially Serviced Mortgage Loans, upon such determination, provided that the Special Servicer shall instruct establish procedures for the Master Servicer as to the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts with and notices to Mortgagors and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master ServicerMortgaged Property.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Mortgage Loan (other than the John Hancock Tower Mortgage Loan and the Boulevard Mall Mortgaxx Lxxx) xx Serviced Companion Loan has become a Specially Serviced Loanand if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, and deliver the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andServicing File, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such the Mortgage Loan or Serviced Companion Loan and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced occurrence of each related Servicing Transfer Event. The Special Servicer may, as to any delinquent Mortgage Loan became a Specially Serviced (other than the John Hancock Tower Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Boulevard Mall Mortgage Lxxx) xx Xxxviced Companion Loan, which shall occur upon the receipt by the Special Servicer of the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor to continue to remit all payments in respect of such Serviced Loan prior to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to occurrence of a Servicing Transfer Event with respect thereto, request and obtain the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagorforegoing documents and information. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly give written notice thereof thereof, and return the related Servicing File, to the Master Servicer and upon giving such notice, and returning such Servicing File, to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicer, such Serviced Loan shall cease to be a Specially Serviced Loan in accordance with the first proviso of the definition of Specially Serviced Loans, the Special Servicer’s 's obligation to service such Mortgage Loan or Serviced Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan or Serviced Companion Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Mortgage Loan or Serviced Companion Loan as a Serviced Loan that is not a Specially Serviced Loan in accordance with this Agreement shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding other provisions in this Agreement to the preceding paragraphcontrary, the Master Servicer shall remain responsible for the billing and collection, accounting, data collection, reporting and other basic Master Servicer administrative functions with respect to make payments to the Special ServicerSpecially Serviced Mortgage Loans, upon such determinationprovided, that the Special Servicer shall instruct establish procedures for the Master Servicer as to the application of receipts and tendered payments and shall have the exclusive responsibility for and authority over all contacts with and notices to Mortgagors and similar matters relating to each Specially Serviced Mortgage Loan and the related Mortgagor Mortgaged Property. The Master Servicer, upon the occurrence of a Servicing Transfer Event with respect to remit all payments in respect of any Serviced Companion Loan, and the Special Servicer upon a determination that such 159 Specially Serviced Mortgage Loan directly has become a Corrected Mortgage Loan, shall promptly give written notice thereof to the Master Servicerrelated Serviced Companion Loan Holders.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become that had otherwise been a Specially Serviced Performing Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Loan Mortgage Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, that if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to delivery. The Special Servicer may conclusively rely on the Master Servicer. The Master Servicer shall forward any notices it would otherwise send 's determination that a Servicing Transfer Event has occurred giving rise to the Mortgagor of such a Mortgage Loan's becoming a Specially Serviced Loan to Mortgage Loan. Neither the Master Servicer nor the Special Servicer who shall send such notice be liable or in default hereunder for any reasonable act or failure to act because of or arising out of the related Mortgagorother party's failure to deliver information, documents or records with respect to any Specially Serviced Mortgage Loan in accordance with the requirements hereof. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected Mortgage Loan, and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof thereof, and shall within five Business Days of such occurrence return the related Servicing File, together with any and all new information, documents and records relating to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion subject Mortgage Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return that were not part of the Servicing File when it was delivered to the Special Servicer, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant Notwithstanding anything herein to the preceding paragraphcontrary, to make payments in connection with the transfer to the Special ServicerServicer of the servicing of a Cross-Collateralized Mortgage Loan as a result of a Servicing Transfer Event or the re-assumption of servicing responsibilities by the Master Servicer with respect to any such Mortgage Loan upon its becoming a Corrected Mortgage Loan, upon such determination, the Master Servicer and the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly each transfer to the Master Servicerother, as and when applicable, the servicing of all other Cross-Collateralized Mortgage Loans constituting part of the same Cross-Collateralized Group; provided that no Cross-Collateralized Mortgage Loan may become a Corrected Mortgage Loan at anytime that a continuing Servicing Transfer Event exists with respect to another Cross-Collateralized Mortgage Loan in the same Cross-Collateralized Group.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWCapital Commercial Funding Corp.)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Serviced Mortgage Loan has become a Specially Serviced Loanand if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the related Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct the related Mortgagor have such period of time as reasonably necessary to continue to remit all payments in respect of make such Serviced Loan to the Master Servicer. The Master Servicer shall forward any notices it would otherwise send to the Mortgagor of such a Specially Serviced Loan to the Special Servicer who shall send such notice to the related Mortgagordelivery. Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicerthereof, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, and shall return the related Directing Holder (prior to the occurrence Servicing File and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) andall other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within five Business Days of the occurrence, to the Master Servicer (or such -91- other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Loan Mortgage Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan, shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Loan as a Serviced Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that a Servicing Transfer Event has occurred with respect to any Mortgage Loan (other than the Non-Serviced Loan has become a Specially Serviced LoanMortgage Loans), the Master Servicer or Special Servicer, as applicable, shall promptly notify the Trustee, Controlling Class Representative, any related Companion Holder and Master Servicer or Special Servicer, as applicable, and, if the Master Servicer is not also the Special Servicer, the Master Servicer shall promptly give written notice thereof immediately deliver or cause to the Special Servicer, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver be delivered a copy of the related Mortgage File and Servicing File File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the Mortgage File, but including or copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced the Mortgage Loan and, if applicable the related Companion Loan, either in the Master Servicer's or any of its directors', officers', employees', affiliates' or agents' possession or control or otherwise available to the Master Servicer without undue burden or expense, and reasonably requested (from time to time) by the Special Servicer to enable it to assume its duties functions hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable efforts to comply with the preceding sentence within five (5) 5 Business Days of the date such Serviced Loan became a Specially Serviced Loan occurrence of each related Servicing Transfer Event; provided, however, if the information, documents and in any event shall continue to act as Master Servicer and administrator of such Serviced Loan until the Special Servicer has commenced the servicing of such Serviced Loan, which shall occur upon the receipt records requested by the Special Servicer of are not contained in the Servicing File. With respect to each such Serviced Loan that becomes a Specially Serviced Loan, the Master Servicer shall instruct have such period of time as reasonably necessary to make such delivery. Notwithstanding the related Mortgagor to continue to remit all payments in respect occurrence of such Serviced Loan to a Servicing Transfer Event, the Master Servicer. The Master Servicer shall forward any notices it would otherwise send continue to the Mortgagor of receive payments on such a Specially Serviced Mortgage Loan to (including amounts collected by the Special Servicer who shall send such notice to the related MortgagorServicer). Upon determining that a Specially Serviced Mortgage Loan has become a Corrected LoanMortgage Loan and if the Master Servicer is not also the Special Servicer, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event with respect to shall return the related Mortgage Loan) andFile and Servicing File and all other information, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice documents and the return records that were not part of the Servicing File when it was delivered to the Special Servicer within 5 Business Days of the occurrence, to the Master Servicer (or such other Person as may be directed by the Master Servicer) and upon giving such notice, and returning such Serviced Loan shall cease Servicing File, to the Master Servicer (or such other Person as may be a Specially Serviced Loan in accordance with directed by the first proviso of the definition of Specially Serviced LoansMaster Servicer), the Special Servicer’s 's obligation to service such Serviced Mortgage Loan, and, if applicable, the Companion Loan, and the Special Servicer's right to receive the Special Servicing Fee with respect to such Mortgage Loan shall terminate terminate, and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Loan that is not a Specially Serviced and, if applicable, the related Companion Loan shall resume. In addition, if the related Mortgagor has been instructed, pursuant to the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor to remit all payments in respect of such Specially Serviced Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wachovia Bank Commercial Mortgage Trust Series 2007-C33)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event together with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File related Mortgage File, to the Special Servicer and concurrently provide (with a copy of such Servicing File the notice to the Operating Advisor Controlling Class Representative) and the Master Servicer shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the such Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan became a 106 Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing Fileinformation, documents and records referred to in the preceding sentence. With respect to each such Serviced Mortgage Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor Borrower to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. The If Midland ceases to be the Master Servicer or the Special Servicer, Midland and the successor Master Servicer or Special Servicer, as applicable, may agree that, notwithstanding the preceding sentence, with respect to each Mortgage Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall forward any notices it would otherwise send instruct the related Borrower to the Mortgagor remit all payments in respect of such a Specially Serviced Mortgage Loan to the Special Servicer who Servicer, provided that the payee in respect of such payments shall send such notice to remain the related MortgagorMaster Servicer. Upon determining that no event has occurred and is continuing with respect to a Mortgage Loan that causes such Mortgage Loan to be a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence Servicer and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicernotice, such Serviced Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan in accordance with pursuant to the first proviso of to the definition of Specially Serviced LoansMortgage Loan, the Special Servicer’s 's obligation to service such Serviced Mortgage Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Mortgage Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor Borrower has been instructed, pursuant to the last sentence of the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor such Borrower to remit all payments in respect of such Mortgage Loan that is no longer a Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (PNC Mort Accept Corp Commerc Mort Pass THR Cert Ser 1999 Cm1)

Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping. (a) Upon determining that any Serviced Mortgage Loan has become a Specially Serviced Mortgage Loan, the Master Servicer shall promptly immediately give written notice thereof to the Special Servicerthereof, any related Serviced Companion Loan Holder (in the case of a Serviced Loan Combination), the Operating Advisor, the Certificate Administrator, the Trustee, the related Directing Holder (prior to the occurrence and continuance of a Consultation Termination Event together with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and shall promptly deliver a copy of the Servicing File related Mortgage File, to the Special Servicer and concurrently provide a copy of such Servicing File to the Operating Advisor and shall use its reasonable best efforts to provide the Special Servicer with all information, documents (but excluding the original documents constituting the such Mortgage File, but including copies thereof) and records (including records stored electronically on computer tapes, magnetic discs and the like) relating to such Serviced Mortgage Loan and reasonably requested by the Special Servicer to enable it to assume its duties hereunder with respect thereto without acting through a Sub-Servicer. The Master Servicer shall use its reasonable best efforts to comply with the preceding sentence within five (5) Business Days of the date such Serviced Mortgage Loan became a Specially Serviced Mortgage Loan and in any event shall continue to act as Master Servicer and administrator of such Serviced Mortgage Loan until the Special Servicer has commenced the servicing of such Serviced Mortgage Loan, which shall occur upon the receipt by the Special Servicer of the Servicing Fileinformation, documents and records referred to in the preceding sentence. With respect to each such Serviced Mortgage Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall instruct the related Mortgagor Borrower to continue to remit all payments in respect of such Serviced Mortgage Loan to the Master Servicer. The If Midland Loan Services, Inc. ceases to be the Master Servicer or the Special Servicer, Midland Loan Services, Inc. and the successor Master Servicer or Special Servicer, as applicable, may agree that, notwithstanding the preceding sentence, with respect to each Mortgage Loan that becomes a Specially Serviced Mortgage Loan, the Master Servicer shall forward any notices it would otherwise send instruct the related Borrower to the Mortgagor remit all payments in respect of such a Specially Serviced Mortgage Loan to the Special Servicer who Servicer, provided that the payee in respect of such payments shall send such notice to remain the related MortgagorMaster Servicer. Upon determining that no event has occurred and is continuing with respect to a Mortgage Loan that causes such Mortgage Loan to be a Specially Serviced Loan has become a Corrected Mortgage Loan, the Special Servicer shall promptly immediately give written notice thereof to the Master Servicer, the Trustee, the Operating Advisor, the Certificate Administrator, any related Serviced Companion Loan Holder, the related Directing Holder (prior to the occurrence Servicer and continuance of a Consultation Termination Event with respect to the related Mortgage Loan) and, for posting to the Rule 17g-5 Information Provider’s Website pursuant to Section 12.13 of this Agreement, the Rule 17g-5 Information Provider and, upon giving such notice and the return of the Servicing File to the Master Servicernotice, such Serviced Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan in accordance with pursuant to the first proviso of to the definition of Specially Serviced LoansMortgage Loan, the Special Servicer’s 's obligation to service such Serviced Mortgage Loan shall terminate and the obligations of the Master Servicer to service and administer such Serviced Mortgage Loan as a Serviced Mortgage Loan that is not a Specially Serviced Mortgage Loan shall resume. In addition, if the related Mortgagor Borrower has been instructed, pursuant to the last sentence of the preceding paragraph, to make payments to the Special Servicer, upon such determination, the Special Servicer shall instruct the related Mortgagor such Borrower to remit all payments in respect of such Mortgage Loan that is no longer a Specially Serviced Mortgage Loan directly to the Master Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Commercial Mortgage Pass Through Certificates Series 1998 C1)

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