Prudential Loans definition
Examples of Prudential Loans in a sentence
The Depositor will deliver the original Mortgage Notes (or lost note affidavits with copies of the related Mortgage Notes, as described in the definition of Mortgage File) relating to the Prudential Loans to the Trustee, endorsed as otherwise provided herein, to effect the transfer to the Trustee of such Mortgage Notes and all related deeds of trust, mortgages and other loan documents.
P&I Advances and Servicing Advances shall be made as provided herein by the General Master Servicer and the Prudential Master Servicer (with respect to the Prudential Loans) and, if the applicable Master Servicer does not make such Advances, by the Trustee, except to the extent that the applicable Master Servicer or the Trustee determines in accordance with Section 4.4 below, that any such Advance would be a Nonrecoverable Advance.
Any expenses incurred or indemnification payments made by each such Primary Servicer with respect to the Principal Loans or the Prudential Loans, as applicable, shall be reimbursed by the party so paid, if a court of competent jurisdiction makes a final, non-appealable judgment that the conduct of such Primary Servicer was not culpable or that such Primary Servicer did not act with willful misfeasance, bad faith or negligence.
With respect to the Prudential Loans, the applicable Inspection Reports shall be available for review by the Trustee, the Special Servicer, the Rating Agencies, the Placement Agent, the Underwriters, the Depositor, the Paying Agent, the Operating Adviser, any Certificate Owner, any Seller and any Primary Servicer via password protocol and execution of an agreement relating thereto on the Prudential Master Servicer's Website.
The General Master Servicer shall maintain the Certificate Account with respect to all of the Mortgage Loans (other than the Prudential Loans) and the Prudential Master Servicer shall maintain the Certificate Account with respect to the Prudential Loans.
The Trustee, the Paying Agent or the General Master Servicer shall promptly make from the applicable Certificate Account any payments certified by the related Primary Servicer with respect to the Principal Loans or the Prudential Loans, as appliciable, to the Trustee and the Paying Agent as required to be made to such Primary Servicer pursuant to this Section 8.25.
The Paying Agent shall maintain the Interest Reserve Accounts with respect to non-Prudential Loans and the Paying Agent shall maintain the Interest Reserve Accounts with respect to the Prudential Loans.
The General Master Servicer shall be the Master Servicer with respect to all the Mortgage Loans (other than the Prudential Loans), the Serviced Companion Loans and other assets in the Trust (other than the Prudential Trust Assets) and, as such, shall service and administer such assets as shall be required of the Master Servicer hereunder with respect to such Trust assets.
The General Master Servicer shall also be entitled to the Primary Servicing Fee (except with respect to the Prudential Loans), which shall be payable by the Trust from amounts held in the applicable Certificate Account (or a sub-account thereof) or otherwise collected from the Mortgage Loans as provided in Section 5.2, provided that the Primary Servicing Fee payable to the General Master Servicer shall only be collected from the Mortgage Loans set forth on Schedule III and Schedule VI.
The Capmark Master Servicer shall maintain the Certificate Account with respect to the Mortgage Loans other than the Prudential Loans, and the Prudential Master Servicer shall maintain the Certificate Account with respect to the Prudential Loans other than the Non-Trust Serviced Mortgage Loan.