Common use of VERSION Clause in Contracts

VERSION. related special servicer), update payment records, file UCC Financing Statements, monitor tax amounts due, and monitor insurance coverage with respect to each such specially serviced Mortgage Loan and shall provide KRECM or the special servicer with any information reasonably required by KRECM or the special servicer to perform its duties under the related PSA, but the Subservicer shall take no other actions with respect to such specially serviced Mortgage Loan unless expressly directed in writing by KRECM or the special servicer. Berkadia will be responsible for all communications with any special servicer under the related PSA. If an inquiry on a specially serviced Mortgage Loan requires the review or consent of KRECM, Subservicer shall forward such request to KRECM for review/consent/denial/modification and will coordinate the delivery of such consent/denial/modification to the special servicer, if applicable. If permitted or not prohibited by the related PSA, upon a specially serviced Mortgage Loan becoming a “corrected” or “performing” Mortgage Loan, KRECM shall promptly notify the Subservicer of such change and the Subservicer shall resume its servicing obligations and duties required pursuant to this Agreement. Notwithstanding any provision to the contrary in this Agreement, the Subservicer shall be entitled to receive any and all fees, compensation and other amounts as provided for in this Agreement during any time that any Mortgage Loan is a specially serviced Mortgage Loan and all such amounts shall be payable to Subservicer if and to the extent (i) sufficient payments or other amounts are received that are allocable to such Mortgage Loan, and (ii) the related PSA permits the payment of such fees, compensation or other amounts during any time that such Mortgage Loan is a specially serviced Mortgage Loan. If any amounts payable to the Subservicer are not paid because there are not sufficient amounts received with respect to such Mortgage Loan at any time, all such amounts shall accrue and remain payable to the Subservicer from any amounts, if any, that are subsequently received with respect to such Mortgage Loan.

Appears in 4 contracts

Sources: Subservicing Agreement, Subservicing Agreement (Citigroup Commercial Mortgage Trust 2016-Gc37), Subservicing Agreement (Morgan Stanley Capital I Trust 2016-Ubs9)