Outside Servicing Agreement definition
Outside Servicing Agreement. With respect to an Outside Serviced Mortgage Loan or the related Outside Serviced Loan Combination, the pooling and servicing agreement, trust and servicing agreement or other comparable agreement governing the creation of an Outside Securitization Trust that includes a related Outside Serviced Companion Loan, the issuance of securities backed by the assets of such Outside Securitization Trust and the servicing of such Outside Serviced Mortgage Loan, such Outside Serviced Loan Combination and the related Outside Serviced Companion Loan(s), or any successor servicing agreement with respect to such Outside Serviced Mortgage Loan, such Outside Serviced Loan Combination and the related Outside Serviced Companion Loan(s) contemplated by the related Co-Lender Agreement. The only Outside Servicing Agreements related to the Trust as of the Closing Date are identified in the Loan Combination Table under the column heading “Outside Servicing Agreement.” With respect to each Servicing Shift Mortgage Loan and the related Servicing Shift Loan Combination, on or after the related Servicing Shift Date, the related Servicing Shift Mortgage Loan Pooling and Servicing Agreement shall be an Outside Servicing Agreement.
Outside Servicing Agreement. With respect to an Outside Serviced Mortgage Loan or the related Outside Serviced Loan Combination, the pooling and servicing agreement or other comparable agreement governing the creation of an Outside Securitization Trust that includes a related Outside Serviced Companion Loan, the issuance of securities backed by the assets of such Outside Securitization Trust and the servicing of such Outside Serviced Mortgage Loan, such Outside Serviced Loan Combination and the related Outside Serviced Companion Loan(s), or any successor servicing agreement with respect to such Outside Serviced Mortgage Loan, such Outside Serviced Loan Combination and the related Outside Serviced Companion Loan(s) contemplated by the related Co-Lender Agreement. The only Outside Servicing Agreements related to the Trust as of the Closing Date are (i) the CGCMT 2016-GC36 Pooling and Servicing Agreement pursuant to which the 5 Penn Plaza Mortgage Loan (which is an Outside Serviced Mortgage Loan) is being serviced, (ii) the 2016-225L Trust and Servicing Agreement pursuant to which the ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Mortgage Loan (which is an Outside Serviced Mortgage Loan) is being serviced, (iii) the WFCM 2015-P2 Pooling and Servicing Agreement pursuant to which the Heritage Industrial Portfolio Mortgage Loan (which is an Outside Serviced Mortgage Loan) is being serviced and (iv) the WFCM 2015-NXS3 Pooling and Servicing Agreement pursuant to which the One Court Square Mortgage Loan (which is an Outside Serviced Mortgage Loan) is being serviced. On and after the ▇▇▇ ▇▇▇▇▇▇▇▇ Controlling Note Securitization Date, the ▇▇▇ ▇▇▇▇▇▇▇▇ Mortgage Loan will be serviced under the pooling and servicing agreement governing the creation of the Outside Securitization Trust that holds the ▇▇▇ ▇▇▇▇▇▇▇▇ Controlling Pari Passu Companion Loan and such pooling and servicing agreement will be an Outside Servicing Agreement. On and after the Home Depot - Elk Grove Village Controlling Note Securitization Date, the Home Depot - Elk Grove Village Mortgage Loan will be serviced under the pooling and servicing agreement governing the creation of the Outside Securitization Trust that holds the Home Depot - Elk Grove Village Controlling Pari Passu Companion Loan and such pooling and servicing agreement will be an Outside Servicing Agreement.
Outside Servicing Agreement means a servicing agreement (other than a Sub-Servicing Agreement or an agreement whereby any Person acts as agent or sub-contractor on behalf of the Master Servicer, the Special Servicer or the Trustee) that governs material servicing functions with respect to any Outside Serviced Trust Mortgage Loan or related REO Property. The Outside Servicing Agreement in effect for any Outside Serviced Trust Mortgage Loan as of the Closing Date will be identified on Schedule VIII attached hereto.
Examples of Outside Servicing Agreement in a sentence
With respect to each Outside Serviced Mortgage Loan serviced under an Outside Servicing Agreement, the Certificate Administrator shall use commercially reasonable efforts to procure, and upon receipt deliver to the Certifying Person, a ▇▇▇▇▇▇▇▇-▇▇▇▇▇ back-up certification similar in form and substance to the certifications referenced in the preceding sentence, from the related Outside Servicer, the related Outside Special Servicer, the related Outside Paying Agent and the related Outside Trustee.
Such assignment of any Outside Serviced Mortgage Loan is further subject to the terms and conditions of the applicable Outside Servicing Agreement and the related Co-Lender Agreement.
With respect to P&I Advances and each Outside Serviced Mortgage Loan, the Master Servicer and the Back-Up Advancing Agent shall be entitled to rely on the “appraisal reduction amount” calculated by the related Outside Special Servicer or the related Outside Servicer in accordance with the terms of the applicable Outside Servicing Agreement.
The Master Servicer shall also be entitled to make withdrawals from time to time, from the Collection Account of amounts necessary for the payments or reimbursement of amounts required to be paid to the parties to, and/or the securitization trust created under, the applicable Outside Servicing Agreement by the holder of each Outside Serviced Mortgage Loan pursuant to each Outside Serviced Co-Lender Agreement.
More Definitions of Outside Servicing Agreement
Outside Servicing Agreement. With respect to an Outside Serviced Trust Loan or the related Outside Serviced Loan Combination, the pooling and servicing agreement or other comparable agreement governing the creation of an Outside Securitization Trust that includes a related Outside Serviced Companion Loan, the issuance of securities backed by the assets of such Outside Securitization Trust and the servicing of such Outside Serviced Trust Loan, such Outside Serviced Loan Combination and the related Outside Serviced Companion Loan(s), or any successor servicing agreement with respect to such Outside Serviced Trust Loan, such Outside Serviced Loan Combination and the related Outside Serviced Companion Loan(s) contemplated by the related Co-Lender Agreement. The only Outside Servicing Agreements related to the Trust as of the Closing Date are (i) the COMM 2015-CCRE24 Pooling and Servicing Agreement pursuant to which the Eden Roc Mortgage Loan (which is an Outside Serviced Trust Loan) is being serviced, (ii) the GSMS 2015-GC32 Pooling and Servicing Agreement pursuant to which the Ascentia MHC Portfolio Mortgage Loan (which is an Outside Serviced Trust Loan) is being serviced, (iii) the CGBAM 2015-SMRT Trust and Servicing Agreement pursuant to which the US StorageMart Portfolio Mortgage Loan (which is an Outside Serviced Trust Loan) is being serviced and (iv) the MSCCG Trust 2015-ALDR Trust and Servicing Agreement pursuant to which the Alderwood Mall Mortgage Loan (which is an Outside Serviced Trust Loan) is being serviced.
Outside Servicing Agreement means: (i) in the case of the ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ Trust Mortgage Loan (or any successor REO Trust Mortgage Loan with respect thereto), the ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇ Servicing Agreement; (ii) in the case of the Courtyard by Marriott Trust Mortgage Loan (or any successor REO Trust Mortgage Loan with respect thereto), the Courtyard by Marriott Servicing Agreement; (iii) in the case of the 1345 Avenue of the Americas Trust Mortgage Loan (or any successor REO Trust Mortgage Loan with respect thereto), the 1345 Avenue of the Americas Servicing Agreement; and (iv) in the case of the Park Avenue Plaza Trust Mortgage Loan (or any successor REO Trust Mortgage Loan with respect thereto), the Park Avenue Plaza Servicing Agreement
Outside Servicing Agreement means: (i) in the case of the ________________ Trust Mortgage Loan (or any successor REO Trust Mortgage Loan with respect thereto), the ________________ Servicing Agreement; (ii) in the case of the ________________ Trust Mortgage Loan (or any successor REO Trust Mortgage Loan with respect thereto), the ________________ Servicing Agreement; and (iii) in the case of the ____________________ Trust Mortgage Loan (or any successor REO Trust Mortgage Loan with respect thereto), the ____________________ Servicing Agreement.
Outside Servicing Agreement. As defined in the Preliminary Statement hereto.
Outside Servicing Agreement means, in the case of the Meriden Mall Trust Mortgage Loan (or any successor REO Trust Mortgage Loan with respect thereto), the Meriden Mall Servicing Agreement and, in the case of the Grace Building Trust Mortgage Loan (or any successor REO Trust Mortgage Loan with respect thereto), the Grace Building Servicing Agreement.
Outside Servicing Agreement. The Ala Moana Portfolio Outside Servicing Agreement or the AmeriCold Portfolio Outside Servicing Agreement, as applicable.
Outside Servicing Agreement. A servicing agreement (other than this Agreement, a Sub-Servicing Agreement or an agreement whereby any Person acts as agent, sub-contractor or vendor on behalf of the Master Servicer, the Special Servicer or the Trustee) that governs most material servicing functions with respect to any Trust Mortgage Loan or related REO Property. For purposes of this Agreement and with respect to the Farallon Portfolio Trust Mortgage Loan, the term "Outside Servicing Agreement" refers to that certain Pooling and Servicing Agreement, dated as of August 1, 2007, between ▇▇▇▇▇▇▇ ▇▇▇▇▇ Mortgage Investors, Inc., as depositor, Keycorp Real Estate Capital Markets, Inc. as master servicer no. 1, ▇▇▇▇▇ Fargo as master servicer no. 2, Midland as special servicer, and LaSalle as trustee and custodian, or any successor agreement thereto as contemplated by the related Loan Combination Co-Lender Agreement.