Risk Retention Consultation Party means each risk retention consultation party appointed pursuant to the Lead Securitization Servicing Agreement.
Risk Retention Consultation Party. Each of (i) the party selected by CGMRC and (ii) the party selected by the holder (or group of affiliated holders) of the majority of the VRR2 Interest, by Certificate Balance, as determined by the Certificate Registrar from time to time. The Certificate Administrator shall promptly provide the name and contact information for the initial Risk Retention Consultation Parties upon request of any party to this Agreement and any such requesting party may conclusively rely on the name and contact information provided by the Depositor. The other parties hereto shall be entitled to assume, without independent investigation or verification, that the identity of any Risk Retention Consultation Party has not changed until such parties receive written notice of (including the identity of and contact information for) a replacement of such Risk Retention Consultation Party from CGMRC (in the case of the VRR1 Risk Retention Consultation Party) or a party holding the requisite interest in the VRR2 Interest (in the case of the VRR2 Risk Retention Consultation Party), as confirmed by the Certificate Registrar. Notwithstanding the foregoing, no Risk Retention Consulting Party shall have any consultation rights with respect to any related Excluded RRCP Mortgage Loan. For avoidance of doubt, there may be multiple Risk Retention Consultation Parties. The initial VRR1 Risk Retention Consultation Party shall be CGMRC and the initial VRR2 Risk Retention Consultation Party shall be DBNY. In the event that no VRR1 Risk Retention Consultation Party or VRR2 Risk Retention Consultation Party, as applicable, has been appointed or identified to the Master Servicer or the Special Servicer, as applicable, and the Master Servicer or the Special Servicer, as applicable, has attempted to obtain such information from the Certificate Administrator and no such entity has been identified to the Master Servicer or the Special Servicer, as applicable, then until such time as the new such Risk Retention Consultation Party is identified, the Master Servicer or the Special Servicer, as applicable, shall have no duty to consult with, provide notice to, or seek the approval or consent of any such Risk Retention Consultation Party as the case may be.
Risk Retention Consultation Party. The Risk Retention Consultation Party shall be the party selected by the Holders of more than 50% of the RR Interest by Certificate Balance, as determined by the Certificate Registrar from time to time. The Depositor shall promptly provide the name and contact information for the initial Risk Retention Consultation Party upon request of any party to this Agreement and any such requesting party may conclusively rely on the name and contact information provided by the Depositor. The Certificate Administrator and the other parties hereto shall be entitled to assume that the identity of the Risk Retention Consultation Party has not changed until such parties receive written notice of a replacement of the Risk Retention Consultation Party from a party holding the requisite interest in the RR Interest (as confirmed by the Certificate Registrar). The initial Risk Retention Consultation Party shall be NREC. In the event that no Risk Retention Consultation Party has been appointed or identified to the Servicer or the Special Servicer, as applicable, and the Servicer or the Special Servicer, as applicable, has attempted to obtain such information from the Certificate Administrator and no such entity has been identified to the Servicer or the Special Servicer, as applicable, then until such time as the new Risk Retention Consultation Party is identified, the Servicer or the Special Servicer, as applicable, shall have no duty to consult with, provide notice to, or seek the approval or consent of any such Risk Retention Consultation Party as the case may be.
Examples of Risk Retention Consultation Party in a sentence
With respect to each Major Decision regarding a Serviced Loan as to which any Risk Retention Consultation Party has consultation rights pursuant to this Section 6.09, the Special Servicer shall provide the related Major Decision Reporting Package to such Risk Retention Consultation Party, simultaneously with the Special Servicer’s request for such Risk Retention Consultation Party’s input regarding the related Major Decision.
For the avoidance of doubt, (x) no Risk Retention Consulting Party shall have any consultation rights with respect to any related Excluded RRCP Mortgage Loan and (y) any consultation with any Risk Retention Consultation Party under this Agreement shall be on a strictly non-binding basis and shall be subject to all limitations with respect to the procedures and timing for such consultation set forth in this Section 6.09.
In any event, the Directing Holder, the Operating Advisor or any Risk Retention Consultation Party, as applicable, agrees to identify for the Master Servicer and the Special Servicer in advance (but at least two (2) Business Days prior to the related monthly conference) the applicable Mortgage Loans (or Serviced Loan Combination) and/or REO Properties it intends to discuss.
The taking of, or refraining from taking, any action by the Master Servicer or Special Servicer in accordance with the direction of or approval of a Directing Holder or the recommendation of the Operating Advisor or any Risk Retention Consultation Party that does not violate any law or the Servicing Standard or any other provisions of this Agreement, will not result in any liability on the part of the Master Servicer or the Special Servicer.
The Risk Retention Consultation Party shall have no liability to the Trust Fund, any party to this Agreement or any Certificateholders for any action taken, or for refraining from the taking of any action, pursuant to this Agreement, or for errors in judgment.
More Definitions of Risk Retention Consultation Party
Risk Retention Consultation Party. Each of (i) the party selected by CREFI, (ii) the party selected by JPMCB, and (iii) the party selected by DBNY. The Certificate Administrator shall promptly provide the name and contact information for the initial Risk Retention Consultation Parties upon request of any party to this Agreement and any such requesting party may conclusively rely on the name and contact information provided by the Certificate Administrator. The other parties hereto shall be entitled to assume, without independent investigation or verification, that the identity of any Risk Retention Consultation Party has not changed until such parties receive written notice of (including the identity of and contact information for) a replacement of such Risk Retention Consultation Party from CREFI (in the case of the VRR1 Risk Retention Consultation Party), DBNY (in the case of the VRR2 Risk Retention Consultation Party) or JPMCB (in the case of the VRR3 Risk Retention Consultation Party). Notwithstanding the foregoing, no Risk Retention Consultation Party shall have any consultation rights with respect to any Excluded RRCP Mortgage Loan with respect thereto. The initial VRR1 Risk Retention Consultation Party shall be CREFI, the initial VRR2 Risk Retention Consultation Party shall be DBNY, and the initial VRR3 Risk Retention Consultation Party shall be JPMCB.
Risk Retention Consultation Party shall have the meaning assigned to the term in the Lead Securitization Servicing Agreement.
Risk Retention Consultation Party. Each of (i) the party selected by CREFI, (ii) the party selected by GSMC, (iii) the party selected by BCREI and (iv) the party selected by BMO Hxxxxx. The Certificate Administrator shall promptly provide the name and contact information for each initial Risk Retention Consultation Party upon request of any party to this Agreement and any such requesting party may conclusively rely on the name and contact information provided by the Certificate Administrator. The other parties hereto shall be entitled to assume, without independent investigation or verification, that the identity of any Risk Retention Consultation Party has not changed until such parties receive written notice of (including the identity of and contact information for) a replacement of such Risk Retention Consultation Party from CREFI, GSMC, BCREI or BMO Hxxxxx, as applicable. The initial Risk Retention Consultation Parties shall be CREFI, GSMC, BBPLC and BMO Hxxxxx. There shall not be more than four (4) Risk Retention Consultation Parties, and each Risk Retention Consultation Party shall not be a Borrower Restricted Party.
Risk Retention Consultation Party. Each of (i) the party selected by BMO, and (ii) the party selected by Sabal. The Certificate Administrator shall promptly provide the name and contact information for the initial Risk Retention Consultation Parties upon request of any party to this Agreement and any such requesting party may conclusively rely on the name and contact information provided by the Certificate Administrator. The other parties hereto shall be entitled to assume, without independent investigation or verification, that the identity of any Risk Retention Consultation Party has not changed until such parties receive written notice of (including the identity of and contact information for) a replacement of such Risk Retention Consultation Party from BMO (in the case of the VRR1 Risk Retention Consultation Party), or Sabal (in the case of the VRR2 Risk Retention Consultation Party). Notwithstanding the foregoing, no Risk Retention Consultation Party shall have any consultation rights with respect to any Excluded RRCP Mortgage Loan with respect thereto. The initial VRR1 Risk Retention Consultation Party shall be BMO and the initial VRR2 Risk Retention Consultation Party shall be Sabal.
Risk Retention Consultation Party. The parties selected by the holders of the RR Interest. The initial Risk Retention Consultation Parties are Xxxxx Fargo, MSMCH, CREFI and DBNY.
Risk Retention Consultation Party. The Risk Retention Consultation Party shall be the party selected by the Holders of more than 50% of the RR Interest (by Certificate Balance, as determined by the Certificate Registrar) from time to time. The Depositor shall promptly provide the name and contact information for the initial Risk Retention Consultation Party upon request of any party to this Agreement and any such requesting party may conclusively rely on the name and contact information provided by the Depositor. The Certificate Administrator and the other parties hereto shall be entitled to assume that the identity of the Risk Retention Consultation Party has not changed until such parties receive written notice of the identity and contact information of a replacement of the Risk Retention Consultation Party from a party holding the requisite interest in the RR Interest (as confirmed by the Certificate Registrar). The initial Risk Retention Consultation Party shall be Xxxxx Fargo Bank, National Association, a national banking association. For the avoidance of doubt, Xxxxx Fargo Bank, National Association’s performance of the role of initial Risk Retention Consultation Party is not performed through the Corporate Trust Services division or the Commercial Mortgage Servicing division of Xxxxx Fargo Bank, National Association; provided, however, that the Commercial Mortgage Servicing division of Xxxxx Fargo Bank, National Association may perform certain surveillance, monitoring and reporting for the Risk Retention Consultation Party.
Risk Retention Consultation Party. The party selected by the Retaining Sponsor. The Certificate Administrator and the other parties hereto shall be entitled to assume that the identity of the Risk Retention Consultation Party has not changed until such parties receive written notice of a replacement of the Risk Retention Consultation Party from a party holding the requisite interest in the VRR Interest (as confirmed by the Certificate Registrar). The initial Risk Retention Consultation Party shall be LNR Securities Holdings, LLC.