Common use of Cross-Collateralized Mortgage Loans Clause in Contracts

Cross-Collateralized Mortgage Loans. Notwithstanding anything herein to the contrary, it is hereby acknowledged that certain groups of Mortgage Loans identified on the Mortgage Loan Schedule as being cross- collateralized with each other are, in the case of each such particular group of Mortgage Loans (each, a "Group"), evidenced by a single mortgage note and secured by mortgages, deeds of trust and/or deeds to secure debt on all the Mortgaged Properties identified on the Mortgage Loan Schedule as corresponding to such Group. It is hereby further acknowledged that each such Mortgage Loan represents a portion of the entire indebtedness evidenced by the related mortgage note that has been allocated to the Mortgaged Property identified on the Mortgage Loan Schedule as corresponding to such Mortgage Loan. Each of the Mortgage Loans constituting each such Group shall be deemed to be a separate Mortgage Loan that is (i) evidenced by a mortgage note identical to the mortgage note that evidences such Group (but in a principal amount equal to the principal balance of such Mortgage Loan) and (ii) cross-defaulted and cross-collateralized with each other Mortgage Loan in such Group. In addition, it is hereby acknowledged that certain other groups of Mortgage Loans identified on the Mortgage Loan Schedule as being cross-collateralized with each other are, in the case of each such particular group of Mortgage Loans (each, also a "Group"), by their terms, cross- defaulted and cross-collateralized with each other. For purposes of reference only in this Agreement, and without in any way limiting the servicing rights and powers of the Master Servicer and/or the Special Servicer, with respect to any Cross-Collateralized Mortgage Loan (or successor REO Loan), the Mortgaged Property (or REO Property) that relates or corresponds thereto shall be the property identified in the Mortgage Loan Schedule as corresponding thereto. The provisions of this Agreement, including, without limitation, each of the defined terms set forth in Section 1.01, shall be interpreted in a manner consistent with this Section 1.03; provided that, if there exists with respect to any of the above specified Groups only one original of any document referred to in the definition of "Mortgage File" covering all the Mortgage Loans in such Group, then the inclusion of the original of such document in the Mortgage File for any of the Mortgage Loans constituting such Group shall be deemed an inclusion of such original in the Mortgage File for each such Mortgage Loan (the Mortgage Loan Seller, in the case of the CREI Mortgage Loans, and the Additional Warranting Party, in the case of the NMCC Mortgage Loans, will notify the Trustee as to which Mortgage Files will contain copies based on this proviso).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage Capital Funding Inc)

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Cross-Collateralized Mortgage Loans. Notwithstanding anything herein to the contrary, it is hereby acknowledged that certain groups of Mortgage Loans identified on the Mortgage Loan Schedule as being cross- cross-collateralized with each other other, are, in the case of each such particular group of Mortgage Loans (each, a "Cross-Collateralized Group"), evidenced by a single mortgage note and secured by mortgages, deeds of trust and/or deeds to secure debt on all the Mortgaged Properties identified on the Mortgage Loan Schedule as corresponding to such Cross-Collateralized Group. It is hereby further acknowledged that each Each such Mortgage Loan actually represents a portion of the entire indebtedness evidenced by the related mortgage note that has been allocated to the Mortgaged Property identified on the Mortgage Loan Schedule as corresponding to such Mortgage Loan. Each of the Mortgage Loans constituting each such Cross-Collateralized Group shall be deemed to be a separate Mortgage Loan that is (ia) evidenced by a mortgage note identical to the mortgage note that evidences such Cross-Collateralized Group (but in a principal amount equal to the principal balance of allocated to such Mortgage Loan) and (iib) cross-defaulted and cross-collateralized with each other Mortgage Loan in such Cross- Collateralized Group. In addition, it is hereby acknowledged that certain other groups of Mortgage Loans identified on the Mortgage Loan Schedule as being cross-collateralized with each other other, are, in the case of each such particular group of Mortgage Loans (each, also a "Cross-Collateralized Group"), by their terms, cross- cross-defaulted and cross-collateralized with each othercollateralized. For purposes of reference only in this Agreement, and without in any way limiting the servicing rights and powers of the Master Servicer and/or the Special Servicer, with respect to any Cross-Collateralized Mortgage Loan (or successor REO Loan)reference, the Mortgaged Property (or REO Property) that relates or corresponds thereto to any of the Mortgage Loans referred to in this Section 19 shall be the property identified in the Mortgage Loan Schedule as corresponding thereto. The provisions of this Agreement, including, without limitation, each of the defined terms representations and warranties set forth in Section 1.01Exhibit C hereto and each of the capitalized terms used herein but defined in the Pooling and Servicing Agreement, shall be interpreted in a manner consistent with this Section 1.03; provided that19. In addition, if there exists with respect to any of the above specified Groups Cross-Collateralized Group only one original of any document referred to in the definition of "Mortgage File" and covering all the Mortgage Loans in such Cross- Collateralized Group, then the inclusion of the original of such document in the Mortgage File for any of the Mortgage Loans constituting such Cross-Collateralized Group shall be deemed an inclusion of such original in the Mortgage File for each such Mortgage Loan (the Mortgage Loan Seller, in the case of the CREI Mortgage Loans, and the Additional Warranting Party, in the case of the NMCC Mortgage Loans, will notify the Trustee as to which Mortgage Files will contain copies based on this proviso)Loan.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (DLJ Commercial Mort Corp Comm Mort Pass THR Cer Ser 1998-Cg1)

Cross-Collateralized Mortgage Loans. Notwithstanding anything herein to the contrary, it is hereby acknowledged that certain groups of Mortgage Loans identified on the Mortgage Loan Schedule as being cross- cross-collateralized with each other are, in the case of each such particular group of Mortgage Loans (each, a "Group")Loans, evidenced by a single mortgage note and secured by mortgages, deeds of trust and/or deeds to secure debt on all the Mortgaged Properties identified on the Mortgage Loan Schedule as corresponding to such Groupgroup. It is hereby further acknowledged that each Each such Mortgage Loan actually represents a portion of the entire indebtedness evidenced by the related mortgage note that has been allocated to the Mortgaged Property identified on the Mortgage Loan Schedule as corresponding to such Mortgage Loan. Each of the Mortgage Loans constituting each such Group group shall be deemed to be a separate Mortgage Loan that is (i) evidenced by a mortgage note identical to the mortgage note that evidences such Group group (but in a principal amount equal to the principal balance of allocated to such Mortgage Loan) and (ii) cross-defaulted and cross-collateralized with each other Mortgage Loan in such Groupgroup. In addition, it is hereby acknowledged that certain other groups of Mortgage Loans identified on the Mortgage Loan Schedule as being cross-collateralized with each other are, in the case of each such particular group of Mortgage Loans (each, also a "Group")Loans, by their terms, cross- cross-defaulted and cross-collateralized with each other. For purposes of reference only in this Agreement, and without in any way limiting the servicing rights and powers of the Master Servicer and/or the Special Servicer, with respect to any Cross-Collateralized Mortgage Loan (or successor REO Mortgage Loan), the Mortgaged Property (or REO Property) that relates or corresponds thereto shall be the property identified in the Mortgage Loan Schedule as corresponding thereto. The provisions of this Agreement, including, without limitation, each of the defined terms set forth in Section 1.01, shall be interpreted in a manner consistent with this Section 1.031.04; provided that, if there exists with respect to any of the above specified Groups Cross- Collateralized Group only one original of any document referred to in the definition of "Mortgage File" covering all the Mortgage Loans in such Cross-Collateralized Group, then the inclusion of the original of such document in the Mortgage File for any of the Mortgage Loans constituting such Cross-Collateralized Group shall be deemed an inclusion of such original in the Mortgage File for each such Mortgage Loan (the Mortgage Loan Seller, in the case of the CREI Mortgage Loans, and the Additional Warranting Party, in the case of the NMCC Mortgage Loans, will notify the Trustee as to which Mortgage Files will contain copies based on this proviso)Loan.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (DLJ Commercial Mort Corp Comm Mort Pass THR Cer Ser 1998-Cg1)

Cross-Collateralized Mortgage Loans. Notwithstanding anything herein to the contrary, it is hereby acknowledged that certain groups of Mortgage Loans identified on the Mortgage Loan Schedule as being cross- cross-collateralized with each other other, are, in the case of each such particular group of Mortgage Loans (each, a "Cross-Collateralized Group"), evidenced by a single mortgage note and secured by mortgages, deeds of trust and/or deeds to secure debt on all the Mortgaged Properties identified on the Mortgage Loan Schedule as corresponding to such Cross-Collateralized Group. It is hereby further acknowledged that each Each such Mortgage Loan actually represents a portion of the entire indebtedness evidenced by the related mortgage note that has been allocated to the Mortgaged Property identified on the Mortgage Loan Schedule as corresponding to such Mortgage Loan. Each of the Mortgage Loans constituting each such Cross-Collateralized Group shall be deemed to be a separate Mortgage Loan that is (ia) evidenced by a mortgage note identical to the mortgage note that evidences such Cross-Collateralized Group (but in a principal amount equal to the principal balance of allocated to such Mortgage Loan) and (iib) cross-defaulted and cross-collateralized with each other Mortgage Loan in such Cross-Collateralized Group. In addition, it is hereby acknowledged that certain other groups of Mortgage Loans identified on the Mortgage Loan Schedule as being cross-collateralized with each other other, are, in the case of each such particular group of Mortgage Loans (each, also a "Cross-Collateralized Group"), by their terms, cross- cross-defaulted and cross-collateralized with each othercollateralized. For purposes of reference only in this Agreement, and without in any way limiting the servicing rights and powers of the Master Servicer and/or the Special Servicer, with respect to any Cross-Collateralized Mortgage Loan (or successor REO Loan)reference, the Mortgaged Property (or REO Property) that relates or corresponds thereto to any of the Mortgage Loans referred to in this Section 19 shall be the property identified in the Mortgage Loan Schedule as corresponding thereto. The provisions of this Agreement, including, without limitation, each of the defined terms representations and warranties set forth in Section 1.01Exhibit C hereto and each of the capitalized terms used herein but defined in the Pooling and Servicing Agreement, shall be interpreted in a manner consistent with this Section 1.03; provided that19. In addition, if there exists with respect to any of the above specified Groups Cross-Collateralized Group only one original of any document referred to in the definition of "Mortgage File" and covering all the Mortgage Loans in such Cross-Collateralized Group, then the inclusion of the original of such document in the Mortgage File for any of the Mortgage Loans constituting such Cross-Collateralized Group shall be deemed an inclusion of such original in the Mortgage File for each such Mortgage Loan (the Mortgage Loan Seller, in the case of the CREI Mortgage Loans, and the Additional Warranting Party, in the case of the NMCC Mortgage Loans, will notify the Trustee as to which Mortgage Files will contain copies based on this proviso)Loan.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (DLJ Commercial Mort Corp Comm Mort Pass THR Cer Ser 1998-Cg1)

Cross-Collateralized Mortgage Loans. Notwithstanding anything herein to the contrary, it is hereby acknowledged that certain the groups of Mortgage Loans identified on the Mortgage Loan Schedule as being cross- collateralized with each other are, in the case of each such particular group of Mortgage Loans (each, a "Group"), evidenced by a single mortgage note and secured by mortgages, deeds of trust and/or deeds to secure debt on all the Mortgaged Properties identified on the Mortgage Loan Schedule as corresponding to such Group. It is hereby further acknowledged that each such Mortgage Loan represents a portion of the entire indebtedness evidenced by the related mortgage note that has been allocated to the Mortgaged Property identified on the Mortgage Loan Schedule as corresponding to such Mortgage Loan. Each of the Mortgage Loans constituting each such Group shall be deemed to be a separate Mortgage Loan that is (i) evidenced by a mortgage note identical to the mortgage note that evidences such Group (but in a principal amount equal to the principal balance of such Mortgage Loan) and (ii) cross-defaulted and cross-collateralized with each other Mortgage Loan in such Group. In addition, it is hereby acknowledged that certain other groups of Mortgage Loans identified on the Pooled Mortgage Loan Schedule as being cross-collateralized with each other are, in the case of each such particular group of Mortgage Loans (each, also a "Group")Loans, by their terms, cross- cross-defaulted and cross-collateralized with each other. For purposes of reference only in this Agreement, and without in any way limiting the servicing rights and powers of the applicable Master Servicer and/or the applicable Special Servicer, with respect to any Cross-Collateralized Mortgage Loan (or successor REO Mortgage Loan), the Mortgaged Property (or REO Property) that relates or corresponds thereto shall be the property identified in the Pooled Mortgage Loan Schedule as corresponding thereto. The provisions of this Agreement, including, without limitation, including each of the defined terms set forth in Section 1.01, shall be interpreted in a manner consistent with this Section 1.031.04; provided that, if there exists with respect to any of the above specified Groups Cross-Collateralized Group only one original of any document referred to in the definition of "Mortgage File" covering all the Mortgage Loans in such Cross-Collateralized Group, then the inclusion of the original of such document in the Mortgage File for any of the Mortgage Loans constituting such Cross-Collateralized Group shall be deemed an inclusion of such original in the Mortgage File for each such Mortgage Loan (the Mortgage Loan Seller, in the case of the CREI Mortgage Loans, and the Additional Warranting Party, in the case of the NMCC Mortgage Loans, will notify the Trustee as to which Mortgage Files will contain copies based on this proviso)Loan.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Sec Tr 2002-Pbw1)

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Cross-Collateralized Mortgage Loans. Notwithstanding anything herein to the contrary, it is hereby acknowledged that certain any groups of Pooled Mortgage Loans identified on the Mortgage Loan Schedule as being cross- collateralized with each other are, in the case of each such particular group of Mortgage Loans (each, a "Group"), evidenced by a single mortgage note and secured by mortgages, deeds of trust and/or deeds to secure debt on all the Mortgaged Properties identified on the Mortgage Loan Schedule as corresponding to such Group. It is hereby further acknowledged that each such Mortgage Loan represents a portion of the entire indebtedness evidenced by the related mortgage note that has been allocated to the Mortgaged Property identified on the Mortgage Loan Schedule as corresponding to such Mortgage Loan. Each of the Mortgage Loans constituting each such Group shall be deemed to be a separate Mortgage Loan that is (i) evidenced by a mortgage note identical to the mortgage note that evidences such Group (but in a principal amount equal to the principal balance of such Mortgage Loan) and (ii) cross-defaulted and cross-collateralized with each other Mortgage Loan in such Group. In addition, it is hereby acknowledged that certain other groups of Mortgage Loans identified on the Pooled Mortgage Loan Schedule as being cross-collateralized with each other are, in the case of each such particular group of Pooled Mortgage Loans (each, also a "Group")Loans, by their terms, cross- cross-defaulted and cross-collateralized with each other. For purposes of reference only in this Agreement, and without in any way limiting the servicing rights and powers of the applicable Master Servicer and/or the applicable Special Servicer, with respect to any Cross-Collateralized Mortgage Loan (or successor REO LoanMortgage Loan with respect thereto), the Mortgaged Property (or REO Property) that relates or corresponds thereto shall be the property identified in the Pooled Mortgage Loan Schedule as corresponding thereto. The provisions of this Agreement, including, without limitation, including each of the defined terms set forth in Section 1.01, shall be interpreted in a manner consistent with this Section 1.031.04; provided that, if there exists with respect to any of the above specified Groups Cross-Collateralized Group only one original of any document referred to in the definition of "β€œMortgage File" ” covering all the Pooled Mortgage Loans in such Cross-Collateralized Group, then the inclusion of the original of such document in the Mortgage File for any of the Pooled Mortgage Loans constituting such Cross-Collateralized Group shall be deemed an inclusion of such original in the Mortgage File for each such Pooled Mortgage Loan (the Mortgage Loan Seller, in the case of the CREI Mortgage Loans, and the Additional Warranting Party, in the case of the NMCC Mortgage Loans, will notify the Trustee as to which Mortgage Files will contain copies based on this proviso)Loan.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2007-Pwr16)

Cross-Collateralized Mortgage Loans. Notwithstanding anything herein to the contrary, it is hereby acknowledged that certain groups of Mortgage Loans identified on the Mortgage Loan Schedule as being cross- cross-collateralized with each other other, are, in the case of each such particular group of Mortgage Loans (each, a "Cross-Collateralized Group"), evidenced by a single mortgage note and secured by mortgages, deeds of trust and/or deeds to secure debt on all the Mortgaged Properties identified on the Mortgage Loan Schedule as corresponding to such Cross-Collateralized Group. It is hereby further acknowledged that each Each such Mortgage Loan actually represents a portion of the entire indebtedness evidenced by the related mortgage note that has been allocated to the Mortgaged Property identified on the Mortgage Loan Schedule as corresponding to such Mortgage Loan. Each of the Mortgage Loans constituting each such Cross-Collateralized Group shall be deemed to be a separate Mortgage Loan that is (ia) evidenced by a mortgage note identical to the mortgage note that evidences such Cross-Collateralized Group (but in a principal amount equal to the principal balance of such Mortgage Loan) and (iib) cross-defaulted and cross-collateralized with each other Mortgage Loan in such Cross-Collateralized Group. In addition, it is hereby acknowledged that certain other groups of Mortgage Loans identified on the Mortgage Loan Schedule as being cross-collateralized with each other other, are, in the case of each such particular group of Mortgage Loans (each, also a "Cross-Collateralized Group"), by their terms, cross- cross-defaulted and cross-collateralized with each othercollateralized. For purposes of reference only in this Agreement, and without in any way limiting the servicing rights and powers of the Master Servicer and/or the Special Servicer, with respect to any Cross-Collateralized Mortgage Loan (or successor REO Loan)reference, the Mortgaged Property (or REO Property) that relates or corresponds thereto to any of the Mortgage Loans referred to in this Section 19 shall be the property identified in the Mortgage Loan Schedule schedule as corresponding thereto. The provisions of this Agreement, including, without limitation, each of the defined terms representations and warranties set forth in Section 1.01Exhibit C hereto and each of the capitalized terms used herein but defined in the Pooling and Servicing Agreement, shall be interpreted in a manner consistent with this Section 1.0319; provided that, if there exists with respect to any of the above specified Groups Cross-Collateralized Group only one original of any document referred to in the definition of "Mortgage File" and covering all the Mortgage Loans in such Cross-Collateralized Group, then the inclusion of the original of such document in the Mortgage File for any of the Mortgage Loans constituting such Cross-Collateralized Group shall be deemed an inclusion of such original in the Mortgage File for each such Mortgage Loan (the Mortgage Loan Seller, in the case of the CREI Mortgage Loans, and the Additional Warranting Party, in the case of the NMCC Mortgage Loans, will notify the Trustee as to which Mortgage Files will contain copies based on this proviso)Loan.]

Appears in 1 contract

Samples: Mortgage Loan Purchase and Sale Agreement (Criimi Mae CMBS Corp)

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