Major Decision Reporting Package definition
Major Decision Reporting Package. As defined in Section 6.08(a).
Major Decision Reporting Package. With respect to any Major Decision, (a) a written report prepared by the Special Servicer describing in reasonable detail (i) the background and circumstances requiring action of the Special Servicer, (ii) the proposed course of action recommended, and (iii) information regarding any direct or indirect conflict of interest in the subject action, and (b) all information in the Special Servicer’s possession that is reasonably requested by the party receiving such Major Decision Reporting Package in order for such party to exercise any consultation or consent rights available to such party under this Agreement.
Major Decision Reporting Package. With respect to any Major Decision, (a) a written report prepared by the Special Servicer describing in reasonable detail (i) the background and circumstances requiring action of the Special Servicer, (ii) the proposed course of action recommended, and (iii) information regarding any direct or indirect conflict of interest in the subject action, and (b) all information in the Special Servicer’s possession that is reasonably requested by the party receiving such Major Decision Reporting Package in order for such party to exercise any consultation or consent rights available to such party under this Agreement. For the avoidance of doubt, the Special Servicer may provide the information described in clauses (i)(1) and (i)(2) in the definition of “Major Decision Reporting Package” in the form of an Asset Status Report.
Examples of Major Decision Reporting Package in a sentence
With respect to any particular Major Decision and related Major Decision Reporting Package and any Asset Status Report, the Special Servicer shall make available to the Operating Advisor a Servicing Officer with relevant knowledge regarding the related Mortgage Loan and such Major Decision and/or Asset Status Report in order to address reasonable questions that the Operating Advisor may have relating to, among other things, such Major Decision and/or Asset Status Report.
In connection with any Major Decision processed by the Special Servicer, the Special Servicer will provide any final Major Decision Reporting Package prepared by it to the Master Servicer promptly after the Directing Certificateholder’s approval of such final Major Decision Reporting Package.
For so long as (a) a Special Servicing Loan Event has occurred and is continuing or (b) an Operating Advisor Consultation Event has occurred and is continuing, the Special Servicer will be required to send notice to the Operating Advisor notifying it of the Directing Certificateholder’s denial, approval or deemed approval of such Major Decision Reporting Package within 10 days of such denial, approval or deemed approval.
More Definitions of Major Decision Reporting Package
Major Decision Reporting Package shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.
Major Decision Reporting Package shall (I) prior to the Lead Securitization Date, mean, with respect to any Major Decision, (a) a written report prepared by the Lead Special Servicer describing in reasonable detail (i) the background and circumstances requiring action of the Lead Special Servicer, (ii) the proposed course of action recommended, and (iii) information regarding any direct or indirect conflict of interest in the subject action, and (b) all information in the Lead Special Servicer's possession that is reasonably requested by the party receiving such Major Decision Reporting Package in order for such party to exercise any consultation or consent rights available to such party under this Agreement; provided, for the avoidance of doubt, that the Lead Special Servicer may provide the information described in clauses (a)(i) and (a)(ii) above in the form of an Asset Status Report and (II) from and after the Lead Securitization Date, have the meaning assigned to such term or another analogous term in the Servicing Agreement.
Major Decision Reporting Package means, with respect to any Major Decision for which it is processing, a written report by the Master Servicer or the Special Servicer, as applicable, describing in reasonable detail (i) the background and circumstances requiring action of the Master Servicer or the Special Servicer, as applicable, and (ii) the proposed course of action recommended.
Major Decision Reporting Package. With respect to any Major Decision, a written report prepared by the Special Servicer describing in reasonable detail (i) the background and circumstances requiring action of the Special Servicer, (ii) the proposed course of action recommended, (iii) all information reasonably requested by the Controlling Class Representative and in the Special Servicer's possession that is necessary in order for the Controlling Class Representative to exercise any consultation or consent rights available to the Controlling Class Representative and (iv) all information reasonably requested by the Operating Advisor and in the Special Servicer's possession that is necessary in order for the Operating Advisor to exercise any consultation rights available to the Operating Advisor.
Major Decision Reporting Package shall have the meaning assigned to such term in the Securitization Servicing Agreement.
Major Decision Reporting Package. With respect to any Major Decision, (a) a written report prepared by the Special Servicer describing in reasonable detail (i) the background and circumstances requiring action of the Special Servicer, (ii) the proposed course of action recommended, and (iii) information regarding any direct or indirect conflict of interest in the subject action, provided, that such written report may, in the discretion of the Special Servicer, be in the form of an Asset Status Report as long as the items set forth in clauses (i) through (iii) are contained therein, and (b) all information in the Special Servicer’s possession that is reasonably requested by the party receiving such Major Decision Reporting Package in order for such party to exercise any consultation or consent rights available to such party under this Agreement.