Examples of Master Servicer in a sentence
The Primary Servicer shall promptly notify the Master Servicer of any defaults under the Mortgage Loans or Serviced Companion Loans, collection issues or customer issues and shall take no actions with respect to enforcing such Mortgage Loans or Serviced Companion Loans without the prior written consent of the Master Servicer.
References to the Master Servicer shall not be deemed to be references to the Primary Servicer for purposes of Section 3.09 (other than Section 3.09(f)) of the Pooling and Servicing Agreement; provided, however, with respect to any Serviced Whole Loan, the Primary Servicer shall promptly provide written notice to the related Serviced Companion Noteholder upon the occurrence of any Serviced Whole Loan event of default.
The Master Servicer may waive any default by the Primary Servicer in the performance of its obligations hereunder and its consequences.
The Master Servicer may, at its sole option, terminate any rights the Primary Servicer may have hereunder with respect to any or all of the Mortgage Loans or the Serviced Companion Loans, as provided in Section 4.01 of this Agreement upon the occurrence of an Primary Servicer Termination Event.
The Primary Servicer may not waive any Penalty Charges that the Master Servicer is permitted to waive under Section 3.02 of the Pooling and Servicing Agreement without the consent of the Master Servicer.