Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, and the Note A-4 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0, Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3, and Note A-4 by wire transfer to accounts maintained by the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 or Note A-4 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, the Note A-4 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, or the Note A-4 Holder, as applicable, and the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, the Note A-4 Holder, or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, or the Note A-4 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 4 contracts
Samples: Co Lender Agreement (JPMDB Commercial Mortgage Securities Trust 2017-C5), Co Lender Agreement (CD 2017-Cd3 Mortgage Trust), Co Lender Agreement (CD 2016-Cd2 Mortgage Trust)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder and the Note A-4 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0, Xxxx X-0A-1-A, Note A-3A-1-1B1, Note A-3A-1-2B2, Note A-3A-2-3A, Note A-2-B, Note A-3 and Note A-4 by wire transfer to accounts maintained by the Note A-1 A-1-A Holder, the Note A-1-B1 Holder, the Note A-1-B2 Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1-A, Note A-2A-1-1B1, Note A-2A-1-2B2, Note A-3X-0-1X, Note A-3Xxxx X-0-2X, Note A-3-3 Xxxx X-0 or Note A-4 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1-A, Note A-2A-1-1B1, Note A-2A-1-2B2, Note A-3X-0-1X, Note A-3Xxxx X-0-2X, Note A-3-3 Xxxx X-0 or Note A-4 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 A-1-A Holder, the Note A-1-B1 Holder, the Note A-1-B2 Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder Holder, or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 A-1-A Holder, the Note A-1-B1 Holder, the Note A-1-B2 Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, as applicable, and the Note A-1 A-1-A Holder, the Note A-1-B1 Holder, the Note A-1-B2 Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 A-1-A Holder, the Note A-1-B1 Holder, the Note A-1-B2 Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 A-1-A Holder, the Note A-1-B1 Holder, the Note A-1-B2 Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, Holder or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 A-1-A Holder, the Note A-1-B1 Holder, the Note A-1-B2 Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 A-1-A Holder, the Note A-1-B1 Holder, the Note A-1-B2 Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 A-1-A Holder, the Note A-1-B1 Holder, the Note A-1-B2 Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 A-1-A Holder, the Note A-1-B1 Holder, the Note A-1-B2 Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 A-1-A Holder, the Note A-1-B1 Holder, the Note A-1-B2 Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 4 contracts
Samples: Lender Agreement (CD 2016-Cd1 Mortgage Trust), Lender Agreement (COMM 2016-Dc2 Mortgage Trust), Lender Agreement (CD 2016-Cd2 Mortgage Trust)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 A-3 Holder, the Note A-3-2 A-4 Holder, the Note A-3-3 A-5 Holder, Note A-6 Holder, Note A-7 Holder and the Note A-4 A-8 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0, Xxxx X-0-0, Xxxx X-0-0, Xxxx X-0, Note A-3-1A-4, Note A-3-2A-5, Note A-3-3A-6, Note A-7 and Note A-4 A-8 by wire transfer to accounts maintained by the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 A-3 Holder, the Note A-3-2 A-4 Holder, the Note A-3-3 A-5 Holder, Note A-6 Holder, Note A-7 Holder and the Note A-4 A-8 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1X-0, Xxxx X-0-0, Xxxx X-0-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2X-0, Note A-3-1Xxxx X-0, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-8 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1X-0, Xxxx X-0-0, Xxxx X-0-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2X-0, Note A-3-1Xxxx X-0, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-8 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 HolderHolder , the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the Note A-7 Holder or the Note A-8 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 A-3 Holder, the Note A-3-2 A-4 Holder, the Note A-3-3 A-5 Holder, the Note A-6 Holder, the Note A-7 Holder or the Note A-4 A-8 Holder, as applicable, and the Note A-1 HolderHolder , the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 A-3 Holder, the Note A-3-2 A-4 Holder, the Note A-3-3 A-5 Holder, the Note A-6 Holder, the Note A-7 Holder or the Note A-4 A-8 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 A-3 Holder, the Note A-3-2 A-4 Holder, the Note A-3-3 A-5 Holder, the Note A-6 Holder, the Note A-7 Holder or the Note A-4 A-8 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the Note A-7 Holder or the Note A-8 Holder or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 A-3 Holder, the Note A-3-2 A-4 Holder, the Note A-3-3 A-5 Holder, the Note A-6 Holder, the Note A-7 Holder and the Note A-4 A-8 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 A-3 Holder, the Note A-3-2 A-4 Holder, the Note A-3-3 A-5 Holder, the Note A-6 Holder, the Note A-7 Holder or the Note A-4 A-8 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 HolderHolder , the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 A-3 Holder, the Note A-3-2 A-4 Holder, the Note A-3-3 A-5 Holder, the Note A-6 Holder, the Note A-7 Holder or the Note A-4 A-8 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 A-3 Holder, the Note A-3-2 A-4 Holder, the Note A-3-3 A-5 Holder, the Note A-6 Holder, the Note A-7 Holder and the Note A-4 A-8 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 A-3 Holder, the Note A-3-2 A-4 Holder, the Note A-3-3 A-5 Holder, the Note A-6 Holder, the Note A-7 Holder and the Note A-4 A-8 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 4 contracts
Samples: Co Lender Agreement (CFCRE 2016-C4 Mortgage Trust), Co Lender Agreement (CFCRE 2016-C6 Mortgage Trust), Co Lender Agreement (Citigroup Commercial Mortgage Trust 2016-C1)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-4 Holder and the Note A-4 A-5 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0A-1, Xxxx X-0Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3, A-4 and Note A-4 by wire transfer to accounts maintained by the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder, A-5 respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 or Note A-4 A-5 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-4 or Note A-4 A-5 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, the Note A-4 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-4 Holder or the Note A-4 A-5 Holder, as applicable, and the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder or the Note A-4 A-5 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which that shall have been theretofore distributed to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder or the Note A-4 A-5 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder, the Note A-4 A-5 Holder, or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder and the Note A-4 Holder A-5 Holder, agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder or the Note A-4 A-5 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-4 Holder or the Note A-4 A-5 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder and the Note A-4 A-5 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder and the Note A-4 Holder A-5 Holder, under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 3 contracts
Samples: Lender Agreement (Benchmark 2018-B8 Mortgage Trust), Lender Agreement (BBCMS Mortgage Trust 2018-C2), Lender Agreement (DBGS 2018-C1 Mortgage Trust)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder and the Note A-4 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0, Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3, A-3 and Note A-4 by wire transfer to accounts maintained by the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder Holder, or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, as applicable, and the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, Holder or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, or the Note A-4 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.excess
Appears in 3 contracts
Samples: Co Lender Agreement (JPMCC Commercial Mortgage Securities Trust 2016-Jp4), Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2016-C37), Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2016-Lc24)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 A-1-1 Holder, the Note A-1-2 Holder, Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder and the Note A-4 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0, Xxxx X-0A-1-2, Note A-3A-2-1, Note A-3A-2-2, Note A-3-3, A-3 and Note A-4 by wire transfer to accounts maintained by the Note A-1 A-1-1 Holder, the Note A-1-2 Holder, Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1-1, Note A-1-2, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-3 or Note A-4 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1-1, Note A-1-2, Note A-2-1, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-3 or Note A-4 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 A-1-1 Holder, the Note A-1-2 Holder, Note A-2-1 Holder, the Note A-2-2 Holder, Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, the Note A-4 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 A-1-1 Holder, the Note A-1-2 Holder, Note A-2-1 Holder, the Note A-2-2 Holder, Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, as applicable, and the Note A-1 A-1-1 Holder, the Note A-1-2 Holder, Note A-1-2 Holder, Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 A-1-1 Holder, the Note A-1-2 Holder, Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 A-1-1 Holder, the Note A-1-2 Holder, Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 A-1-1 Holder, the Note A-1-2 Holder, Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 A-1-1 Holder, the Note A-1-2 Holder, Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 A-1-1 Holder, the Note A-1-2 Holder, Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 A-1-1 Holder, the Note A-1-2 Holder, Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 A-1-1 Holder, the Note A-1-2 Holder, Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 3 contracts
Samples: Co Lender Agreement (CFCRE 2016-C6 Mortgage Trust), Co Lender Agreement (Citigroup Commercial Mortgage Trust 2016-P4), Co Lender Agreement (Citigroup Commercial Mortgage Trust 2016-C1)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 HolderX-0, the Xxxx X-0-0, Xxxx X-0-0, Xxxx X-0, Note A-2A-4, Note A-5-1 Holder1, the Note A-2A-5-2 Holder, the and Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, and the Note A-4 A-6 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0, Xxxx X-0-0, Xxxx X-0-0, Xxxx X-0, Note A-3A-4, Note A-5-1, Note A-3A-5-2, Note A-3-3, 2 and Note A-4 A-6 by wire transfer to accounts maintained by the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3A-3 Holder, Note A-4 Holder, Note A-5-1 Holder, the Note A-3A-5-2 Holder, the Note A-3-3 Holder and the Note A-4 A-6 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1X-0, Xxxx X-0-0, Xxxx X-0-0, Xxxx X-0, Note A-2A-4, Note A-5-1, Note A-2A-5-2, Note A-3-1, Note A-3-2, Note A-3-3 2 or Note A-4 A-6 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1X-0, Xxxx X-0-0, Xxxx X-0-0, Xxxx X-0, Note A-2A-4, Note A-5-1, Note A-2A-5-2, Note A-3-1, Note A-3-2, Note A-3-3 2 or Note A-4 A-6 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3A-3 Holder, the Note A-4 Holder, the Note A-5-1 Holder, the Note A-3A-5-2 Holder, Holder or the Note A-3-3 Holder, the Note A-4 A-6 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3A-3 Holder, the Note A-4 Holder, the Note A-5-1 Holder, the Note A-3A-5-2 Holder, the Note A-3-3 Holder, Holder or the Note A-4 A-6 Holder, as applicable, and the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3A-3 Holder, the Note A-4 Holder, the Note A-5-1 Holder, the Note A-3A-5-2 Holder, the Note A-3-3 Holder or the Note A-4 A-6 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3A-3 Holder, the Note A-4 Holder, the Note A-5-1 Holder, the Note A-3A-5-2 Holder, the Note A-3-3 Holder or the Note A-4 A-6 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, the Note A-4 Holder, the Note A-5-1 Holder, the Note A-5-2 Holder or the Note A-6 Holder or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3A-3 Holder, the Note A-4 Holder, the Note A-5-1 Holder, the Note A-3A-5-2 Holder, the Note A-3-3 Holder and the Note A-4 A-6 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3A-3 Holder, the Note A-4 Holder, the Note A-5-1 Holder, the Note A-3A-5-2 Holder, the Note A-3-3 Holder or the Note A-4 A-6 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3A-3 Holder, the Note A-4 Holder, the Note A-5-1 Holder, the Note A-3A-5-2 Holder, the Note A-3-3 Holder, Holder or the Note A-4 A-6 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3A-3 Holder, the Note A-4 Holder, the Note A-5-1 Holder, the Note A-3A-5-2 Holder, the Note A-3-3 Holder and the Note A-4 A-6 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 A-3 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.Note
Appears in 2 contracts
Samples: Co Lender Agreement (Citigroup Commercial Mortgage Trust 2016-Gc37), Co Lender Agreement (DBJPM 2016-C1 Mortgage Trust)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder and the Note A-4 A-6 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0-X, Xxxx X-0-X, Xxxx X-0-X0, Note A-2-A2, Note X-0-X, Xxxx X-0, Note A-3A-4-1A, Note A-3A-4-2B, Note A-3A-5-3A, Note A-5-B and Note A-4 A-6, by wire transfer to accounts maintained by the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder and the Note A-4 A-6 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1X-0-X, Xxxx X-0-X, Xxxx X-0-X0, Note A-2-1A2, Note A-2X-0-2X, Xxxx X-0, Note A-3A-4-1A, Note A-3A-4-2B, Note A-3A-5-3 A, Note A-5-B or Note A-4 A-6 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1X-0-X, Xxxx X-0-X, Xxxx X-0-X0, Note A-2-1A2, Note A-2X-0-2X, Xxxx X-0, Note A-3A-4-1A, Note A-3A-4-2B, Note A-3A-5-3 A, Note A-5-B or Note A-4 A-6 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower Borrowers or paid to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4 A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder or the Note A-6 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder or the Note A-4 A-6 Holder, as applicable, and the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder or the Note A-4 A-6 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder or the Note A-4 A-6 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the BorrowerBorrowers, the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4 A-4-B Holder, or the Note A-5-A Holder, the Note A-5-B Holder, the Note A-6 Holder, any Servicer or such other person or entity with respect thereto. Each of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder and the Note A-4 A-6 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder or the Note A-4 A-6 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder or the Note A-4 A-6 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 Holder and B Holder, the Note A-4 A-5-A Holder, the Note A-5-B Holder or the Note A-6 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder and the Note A-4 A-6 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 2 contracts
Samples: Co Lender Agreement (JPMDB Commercial Mortgage Securities Trust 2016-C2), Co Lender Agreement (COMM 2016-Ccre28 Mortgage Trust)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 A-3 Holder, the Note A-3-1 A-4 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-5 Holder and the Note A-4 A-6 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note A-0, Xxxx X-0, Xxxx X-0, Note A-3-1A-4, Note A-3-2, Note A-3-3, A-5 and Note A-4 A-6 by wire transfer to accounts maintained by the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 A-3 Holder, the Note A-3-1 A-4 Holder, the Note A-3-2 Holder, the Note A-3-3 A-5 Holder and the Note A-4 A-6 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1A-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-5 or Note A-4 A-6 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1A-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-5 or Note A-4 A-6 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, the Note A-4 Holder, the Note A-5 Holder or the Note A-6 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, or the Note A-4 Holder, as applicable, and the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, the Note A-4 Holder, or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, or the Note A-4 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.Note
Appears in 2 contracts
Samples: Co Lender Agreement (DBJPM 2016-C1 Mortgage Trust), Lender Agreement (COMM 2016-Dc2 Mortgage Trust)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 A-3 Holder, the Note A-3-1 A-4 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-5 Holder and the Note A-4 A-6 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0, Xxxx X-0, Note A-3-1Xxxx X-0, Note A-3-2A-4, Note A-3-3, A-5 and Note A-4 A-6 by wire transfer to accounts maintained by the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 A-3 Holder, the Note A-3-1 A-4 Holder, the Note A-3-2 Holder, the Note A-3-3 A-5 Holder and the Note A-4 A-6 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-5 or Note A-4 A-6 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 A-5 or Note A-4 A-6 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, the Note A-4 Holder, the Note A-5 Holder or the Note A-6 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, or the Note A-4 Holder, as applicable, and the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, the Note A-4 Holder, or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, or the Note A-4 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.Note
Appears in 2 contracts
Samples: Lender Agreement (DBJPM 2016-C3 Mortgage Trust), Lender Agreement (JPMDB Commercial Mortgage Securities Trust 2016-C2)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder and the Note A-4 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0, Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3, A-3 and Note A-4 by wire transfer to accounts maintained by the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1X-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, the Note A-4 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, as applicable, and the such Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have that has been theretofore distributed to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, the Note A-4 Holder, or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 2 contracts
Samples: Lender Agreement (UBS Commercial Mortgage Trust 2018-C9), Lender Agreement (UBS Commercial Mortgage Trust 2018-C8)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A Holder, the Note A-3-2 B Holder, the Note A-3A-4-3 Holder, A Holder and the Note A-4 A-4-B Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0A-1-A, Xxxx X-0Note A-1-B, Note A-2-A, Note A-2-B, Note A-3-1A, Note A-3-2B, Note A-3A-4-3, A and Note A-4 A-4-B (net of amounts payable or reimbursable from such Collection Account), by wire transfer to accounts maintained by the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A Holder, the Note A-3-2 B Holder, the Note A-3A-4-3 A Holder and the Note A-4 A-4-B Holder, respectively; provided that delinquent payments and principal prepayments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1A, Note A-3-2B, Note A-3A-4-3 A or Note A-4 A-4-B determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1A, Note A-3-2B, Note A-3A-4-3 A or Note A-4 A-4-B must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A Holder, the Note A-3-2 B Holder, the Note A-3A-4-3 Holder, A Holder and the Note A-4 A-4-B Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A Holder, the Note A-3-2 B Holder, the Note A-3A-4-3 Holder, or A Holder and the Note A-4 A-4-B Holder, as applicable, and the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A Holder, the Note A-3-2 B Holder, the Note A-3A-4-3 A Holder or the Note A-4 A-4-B Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A Holder, the Note A-3-2 B Holder, the Note A-3A-4-3 A Holder or the Note A-4 A-4-B Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A Holder, the Note A-3-2 B Holder, the Note A-3A-4-3 A Holder, the Note A-4 A-4-B Holder, or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A Holder, the Note A-3-2 B Holder, the Note A-3A-4-3 A Holder and the Note A-4 A-4-B Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A Holder, the Note A-3-2 B Holder, the Note A-3A-4-3 A Holder or the Note A-4 A-4-B Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A Holder, the Note A-3-2 B Holder, the Note A-3A-4-3 Holder, A Holder or the Note A-4 A-4-B Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A Holder, the Note A-3-2 B Holder, the Note A-3A-4-3 A Holder and the Note A-4 A-4-B Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A Holder, the Note A-3-2 B Holder, the Note A-3A-4-3 A Holder and the Note A-4 A-4-B Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 2 contracts
Samples: Lender Agreement (JPMDB Commercial Mortgage Securities Trust 2016-C2), Lender Agreement (Wells Fargo Commercial Mortgage Trust 2016-C33)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder and the Note A-4 A-6 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note A-0-X, Xxxx X-0-X, Xxxx X-0-X0, Note A-2-A2, Note A-0-X, Xxxx X-0, Note A-3A-4-1A, Note A-3A-4-2B, Note A-3A-5-3A, Note A-5-B and Note A-4 A-6, by wire transfer to accounts maintained by the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder and the Note A-4 A-6 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1A-0-X, Xxxx X-0-X, Xxxx X-0-X0, Note A-2-1A2, Note A-2A-0-2X, Xxxx X-0, Note A-3A-4-1A, Note A-3A-4-2B, Note A-3A-5-3 A, Note A-5-B or Note A-4 A-6 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1A-0-X, Xxxx X-0-X, Xxxx X-0-X0, Note A-2-1A2, Note A-2A-0-2X, Xxxx X-0, Note A-3A-4-1A, Note A-3A-4-2B, Note A-3A-5-3 A, Note A-5-B or Note A-4 A-6 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower Borrowers or paid to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4 A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder or the Note A-6 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder or the Note A-4 A-6 Holder, as applicable, and the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder or the Note A-4 A-6 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder or the Note A-4 A-6 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the BorrowerBorrowers, the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4 A-4-B Holder, or the Note A-5-A Holder, the Note A-5-B Holder, the Note A-6 Holder, any Servicer or such other person or entity with respect thereto. Each of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder and the Note A-4 A-6 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder or the Note A-4 A-6 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder or the Note A-4 A-6 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 Holder and B Holder, the Note A-4 A-5-A Holder, the Note A-5-B Holder or the Note A-6 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A1 Holder, the Note A-2-2 A2 Holder, the Note A-3A-2-1 B Holder, the Note A-3-2 A-3 Holder, the Note A-3A-4-3 A Holder, the Note A-4-B Holder, the Note A-5-A Holder, the Note A-5-B Holder and the Note A-4 A-6 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 2 contracts
Samples: Lender Agreement (Wells Fargo Commercial Mortgage Trust 2016-Lc24), Co Lender Agreement (COMM 2015-Lc23 Mortgage Trust)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 HolderX-0, the Xxxx X-0, Xxxx X-0, Note A-2-1 HolderA-4, the Note A-2-2 HolderA-5, the Note A-3-1 HolderA-6, the Note A-3-2 Holder, the A-7 and Note A-3-3 Holder, and the Note A-4 A-8 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0, Xxxx X-0, Note A-3-1Xxxx X-0, Note A-3-2A-4, Note A-3-3A-5, Note A-6, Note A-7 and Note A-4 A-8 by wire transfer to accounts maintained by the Note A-1 HolderX-0, the Xxxx X-0, Xxxx X-0, Note A-2-1 HolderA-4, the Note A-2-2 HolderA-5, the Note A-3-1 HolderA-6, the Note A-3-2 Holder, the A-7 and Note A-3-3 Holder and the Note A-4 A-8 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2X-0, Note A-3-1Xxxx X-0, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-8 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1X-0, Xxxx X-0, Xxxx X-0, Note A-2-1A-4, Note A-2-2X-0, Note A-3-1Xxxx X-0, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 A-8 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 Holder , the Note A-2 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the Note A-7 Holder or the Note A-8 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 Holder , Note A-2 Holder, the Note A-2-1 A-3 Holder, the Note A-2-2 A-4 Holder, the Note A-3-1 A-5 Holder, the Note A-3-2 A-6 Holder, the Note A-3-3 Holder, A-7 Holder or the Note A-4 A-8 Holder, as applicable, and Note A-1 Holder , the Note A-1 A-2 Holder, the Note A-2-1 A-3 Holder, the Note A-2-2 A-4 Holder, the Note A-3-1 A-5 Holder, the Note A-3-2 A-6 Holder, the Note A-3-3 A-7 Holder or the Note A-4 A-8 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 Holder , the Note A-2 Holder, the Note A-2-1 A-3 Holder, the Note A-2-2 A-4 Holder, the Note A-3-1 A-5 Holder, the Note A-3-2 A-6 Holder, the Note A-3-3 A-7 Holder or the Note A-4 A-8 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 Holder , the Note A-2 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, the Note A-4 Holder, the Note A-5 Holder, the Note A-6 Holder, the Note A-7 Holder or the Note A-8 Holder or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 Holder , the Note A-2 Holder, the Note A-2-1 A-3 Holder, the Note A-2-2 A-4 Holder, the Note A-3-1 A-5 Holder, the Note A-3-2 A-6 Holder, the Note A-3-3 A-7 Holder and the Note A-4 A-8 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder , the Note A-2 Holder, the Note A-2-1 A-3 Holder, the Note A-2-2 A-4 Holder, the Note A-3-1 A-5 Holder, the Note A-3-2 A-6 Holder, the Note A-3-3 A-7 Holder or the Note A-4 A-8 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder , the Note A-2 Holder, the Note A-2-1 A-3 Holder, the Note A-2-2 A-4 Holder, the Note A-3-1 A-5 Holder, the Note A-3-2 A-6 Holder, the Note A-3-3 Holder, A-7 Holder or the Note A-4 A-8 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder , the Note A-2 Holder, the Note A-2-1 A-3 Holder, the Note A-2-2 A-4 Holder, the Note A-3-1 A-5 Holder, the Note A-3-2 A-6 Holder, the Note A-3-3 A-7 Holder and the Note A-4 A-8 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder , the Note A-2 Holder, the Note A-2-1 A-3 Holder, the Note A-2-2 A-4 Holder, the Note A-3-1 A-5 Holder, the Note A-3-2 A-6 Holder, the Note A-3-3 A-7 Holder and the Note A-4 A-8 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 2 contracts
Samples: Co Lender Agreement (Citigroup Commercial Mortgage Trust 2016-C1), Co Lender Agreement (CFCRE 2016-C4 Mortgage Trust)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 A-1-A Holder, the Note A-2A-1-1 B Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder and the Note A-4 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note A-0-X, Xxxx X-0-X, Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3, A-3 and Note A-4 by wire transfer to accounts maintained by the Note A-1 A-1-A Holder, the Note A-2A-1-1 B Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1-A, Note A-2A-0-1X, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1-A, Note A-2A-0-1X, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 A-1-A Holder, the Note A-2A-1-1 B Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder Holder, or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 A-1-A Holder, the Note A-2A-1-1 B Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, as applicable, and the Note A-1 A-1-A Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, the Note A-4 Holder, or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder or the Note A-4 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, or the Note A-4 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.A-
Appears in 1 contract
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 B Holder, the Note A-5 Holder and the Note A-4 A-6 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0A-1-A, Xxxx X-0Note A-1-B, Note A-2-A, Note A-2-B, Note A-3-1, Note A-3A-4-2A, Note A-3A-4-3B, Note A-5 and Note A-4 A-6, by wire transfer to accounts maintained by the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 B Holder, the Note A-5 Holder and the Note A-4 A-6 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1, Note A-3A-0-2X, Note A-3Xxxx X-0-3 X, Xxxx X-0 or Note A-4 A-6 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1, Note A-3A-0-2X, Note A-3Xxxx X-0-3 X, Xxxx X-0 or Note A-4 A-6 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower Borrowers or paid to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 B Holder, the Note A-4 A-5 Holder or the Note A-6 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 B Holder, the Note A-5 Holder or the Note A-4 A-6 Holder, as applicable, and the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 B Holder, the Note A-5 Holder or the Note A-4 A-6 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 B Holder, the Note A-5 Holder or the Note A-4 A-6 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the BorrowerBorrowers, the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 B Holder, the Note A-4 A-5 Holder, or the Note A-6 Holder, any Servicer or such other person or entity with respect thereto. Each of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 B Holder, the Note A-5 Holder and the Note A-4 A-6 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the N Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 B Holder, the Note A-5 Holder or the Note A-4 A-6 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 B Holder, the Note A-5 Holder or the Note A-4 A-6 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 A-3 Holder, the Note A-3A-4-1 A Holder, the Note A-3A-4-2 B Holder, the Note A-3-3 A-5 Holder and or the Note A-4 A-6 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 A-3 Holder, the Note A-3A-4-2 A Holder, the Note A-3A-4-3 B Holder, the Note A-5 Holder and the Note A-4 A-6 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 1 contract
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, and the Note A-4 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note A-0, Xxxx X-0, Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3, and Note A-4 by wire transfer to accounts maintained by the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1A-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1A-0, Note A-2-1Xxxx X-0, Note A-2-2, Note A-3-1, Note A-3-2, Note A-3-3 Xxxx X-0 or Note A-4 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, the Note A-4 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, or the Note A-4 Holder, as applicable, and the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, the Note A-4 Holder, or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder, or the Note A-4 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder, the Note A-2-1 A-2 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 1 contract
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-4 Holder and the Note A-4 A-5 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0, Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3, A-4 and Note A-4 by wire transfer to accounts maintained by the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder and the Note A-4 Holder, A-5 respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 A-4 or Note A-4 A-5 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1X-0, Note A-2-1, Note A-2-2Xxxx X-0, Note A-3-1, Note A-3-2, Note A-3-3 A-4 or Note A-4 A-5 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, the Note A-4 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-4 Holder or the Note A-4 A-5 Holder, as applicable, and the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder or the Note A-4 A-5 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which that shall have been theretofore distributed to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder or the Note A-4 A-5 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder, the Note A-4 A-5 Holder, or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder and the Note A-4 Holder A-5 Holder, agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder or the Note A-4 A-5 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-4 Holder or the Note A-4 A-5 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder and the Note A-4 A-5 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder, the Note A-2-1 Holder, the Note A-2-2 A-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-4 Holder and the Note A-4 Holder A-5 Holder, under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
Appears in 1 contract
Samples: Co Lender Agreement (Benchmark 2018-B6 Mortgage Trust)
Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2- A Holder, the Note A-2-1 B Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder and the Note A-4 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0, Xxxx X-0A-1-A, Note A-3A-1-1B, Note A-3A-2-2A, Note A-3A-2-3B, Note A-3 and Note A-4 by wire transfer to accounts maintained by the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1, Note A-3-2, Note A-3-3 A-3 or Note A-4 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1-A, Note A-1-B, Note A-2-1A, Note A-2-2B, Note A-3-1, Note A-3-2, Note A-3-3 A-3 or Note A-4 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder Holder, or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, as applicable, and the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, Holder or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder or the Note A-4 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 Holder, A-3 Holder or the Note A-4 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 A-1-A Holder, the Note A-1-B Holder, the Note A-2-1 A Holder, the Note A-2-2 B Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3-3 A-3 Holder and the Note A-4 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
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Accounts; Payment Procedure. The Servicing Agreement shall provide that the Master Servicer shall establish and maintain the Collection Account or Collection Accounts, as applicable. Each of the Note A-1 A-1-1 Holder, the Note A-2-1 Holder, the Note A-2A-1-2 Holder, the Note A-3A-1-1 3 Holder, the Note A-3A-2-2 Holder, the Note A-3-3 Holder, Holder and the Note A-4 A-2-3 Holder hereby directs the Master Servicer, in accordance with the priorities set forth in Section 3 hereof, and subject to the terms of the Servicing Agreement, (i) to deposit into the applicable Collection Account within the time period specified in the Servicing Agreement all payments received with respect to the Mortgage Loan and (ii) to remit from the applicable Collection Account for deposit or credit on the applicable Master Servicer Remittance Date all payments received with respect to and allocable to Note X-0, Xxxx X-0, Note A-3A-1-1, Note A-3A-2-1, Note A-1-2, Note A-3A-1-3, Note A-2-2 and Note A-4 A-2-3 by wire transfer to accounts maintained by the Note A-1 A-1-1 Holder, the Note A-2-1 Holder, the Note A-2A-1-2 Holder, the Note A-3A-1-1 3 Holder, the Note A-3A-2-2 Holder, the Note A-3-3 Holder and the Note A-4 A-2-3 Holder, respectively; provided that delinquent payments received by the Master Servicer after the related Master Servicer Remittance Date shall be remitted by the Master Servicer to such accounts within the time period specified in the Servicing Agreement, except with respect to any delinquent payments related to Note A-1-3 or Note A-2-3, as applicable, which shall be remitted by the Master Servicer within one (1) Business Day of receipt and identification thereof. If any Servicer holding or having distributed any amount received or collected in respect of Note A-1-1, Note A-2-1, Note A-2A-1-2, Note A-3A-1-13, Note A-3A-2-2, 2 or Note A-3A-2-3 or Note A-4 determines, or a court of competent jurisdiction orders, at any time that any amount received or collected in respect of Note A-1-1, Note A-2-1, Note A-2A-1-2, Note A-3A-1-13, Note A-3A-2-2, 2 or Note A-3A-2-3 or Note A-4 must, pursuant to any insolvency, bankruptcy, fraudulent conveyance, preference or similar law, be returned to the Borrower or paid to the Note A-1 A-1-1 Holder, the Note A-2-1 Holder, the Note A-1-2 Holder, the Note A-1-3 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3A-2-3 Holder, the Note A-4 Holder or any Servicer or paid to any other Person, then, notwithstanding any other provision of this Agreement, no Servicer shall be required to distribute any portion thereof to the Note A-1 A-1-1 Holder, the Note A-2-1 Holder, the Note A-2A-1-2 Holder, the Note A-3A-1-1 3 Holder, the Note A-3A-2-2 Holder, the Note A-3-3 Holder, Holder or the Note A-4 A-2-3 Holder, as applicable, and the Note A-1 A-1-1 Holder, the Note A-2-1 Holder, the Note A-2A-1-2 Holder, the Note A-3A-1-1 3 Holder, the Note A-3A-2-2 Holder, the Note A-3-3 Holder or the Note A-4 A-2-3 Holder, as applicable, shall promptly on demand repay to such Servicer the portion thereof which shall have been theretofore distributed to the Note A-1 A-1-1 Holder, the Note A-2-1 Holder, the Note A-2A-1-2 Holder, the Note A-3A-1-1 3 Holder, the Note A-3A-2-2 Holder, the Note A-3-3 Holder or the Note A-4 A-2-3 Holder, as applicable, together with interest thereon at such rate, if any, as such Servicer shall have been required to pay to the Borrower, the Note A-1 A-1-1 Holder, the Note A-2-1 Holder, the Note A-1-2 Holder, the Note A-1-3 Holder, the Note A-2-2 Holder, the Note A-3-1 Holder, the Note A-3-2 Holder, the Note A-3A-2-3 Holder, the Note A-4 Holder, or any Servicer or such other person or entity with respect thereto. Each of the Note A-1 A-1-1 Holder, the Note A-2-1 Holder, the Note A-2A-1-3 Holder, the Note A-1-2 Holder, the Note A-3-1 Holder, the Note A-3A-2-2 Holder, the Note A-3-3 Holder and the Note A-4 A-2-3 Holder agrees that if at any time it shall receive from any sources whatsoever any payment on account of the Mortgage Loan in excess of its distributable share thereof, it will promptly remit such excess to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 A-1-1 Holder, the Note A-2-1 Holder, the Note A-2A-1-2 Holder, the Note A-3A-1-1 3 Holder, the Note A-3A-2-2 Holder, the Note A-3-3 Holder or the Note A-4 A-2-3 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 A-1-1 Holder, the Note A-2-1 Holder, the Note A-2A-1-2 Holder, the Note A-3A-1-1 3 Holder, the Note A-3A-2-2 Holder, the Note A-3-3 Holder, Holder or the Note A-4 A-2-3 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 A-1-1 Holder, the Note A-2-1 Holder, the Note A-2A-1-2 Holder, the Note A-3A-1-1 3 Holder, the Note A-3A-2-2 Holder, the Note A-3-3 Holder and the Note A-4 A-2-3 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 A-1-1 Holder, the Note A-2-1 Holder, the Note A-2A-1-2 Holder, the Note A-3A-1-1 3 Holder, the Note A-3A-2-2 Holder, the Note A-3-3 Holder and the Note A-4 A-2-3 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
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Samples: Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2015-Lc22)
