Additional Obligations of Master Servicer. (a) The Master Servicer shall deposit in the Collection Account on each P&I Advance Date (prior to any transfer of funds from the Collection Account to the Distribution Account on such date), without any right of reimbursement therefor with respect to those Trust Mortgage Loans that were, in each such case, subject to a Principal Prepayment during the most recently ended Collection Period (other than Principal Prepayments made out of Insurance Proceeds or Liquidation Proceeds and other than Casualty/Condemnation Principal Prepayments) creating a Prepayment Interest Shortfall, an aggregate amount equal to the lesser of (i) the amount of the related Prepayment Interest Shortfalls in respect of the Trust Mortgage Loans and (ii) the sum of (A) that portion of the Master Servicing Fees on the Mortgage Pool that represents an accrual at a rate of 0.01% per annum and (B) the total amount of Prepayment Interest Excesses that were collected during the related Collection Period; provided, however, that if a Prepayment Interest Shortfall occurs as a result of the Master Servicer's allowing the related Mortgagor to deviate from the terms of the related Mortgage Loan documents regarding principal prepayments (other than (x) subsequent to a material default under the related Mortgage Loan documents, (y) pursuant to applicable law or a court order, or (z) at the request or with the consent of the Special Servicer or the Controlling Class Representative) then, for purposes of determining the payment that the Master Servicer is required to make to cover that Prepayment Interest Shortfall, the reference to "Master Servicing Fee" in clause (A) above shall be construed to include (1) the entire Master Servicing Fees payable to the Master Servicer with respect to the related Collection Period, inclusive of any portion payable to a third-party primary servicer and inclusive of any portion thereof that constitutes the related Excess Servicing Strip and (2) the amount of any investment income earned by the Master Servicer on the related Principal Prepayment while on deposit in the Collection Account. Following the payments made by the Master Servicer pursuant to the preceding paragraph (excluding the payments contemplated by the proviso to the sole sentence of the preceding paragraph), the Master Servicer shall apply any remaining Prepayment Interest Excesses to offset any Casualty/Condemnation Interest Shortfall incurred with respect to any Trust Mortgage Loan during the subject...
Additional Obligations of Master Servicer. The Master Servicer shall deliver to the Paying Agent for deposit in the Distribution Account on each P&I Advance Date, without any right of reimbursement therefor, an amount equal to the lesser of (i) the excess, if any, of (A) aggregate amount of Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received during the most recently ended Collection Period over (B) the aggregate amount of Prepayment Interest Excesses collected in connection with Principal Prepayments received during such Collection Period, and (ii) the total amount of all servicing compensation received by the Master Servicer during such Collection Period.
Additional Obligations of Master Servicer. (a) The Master Servicer shall deliver to the Trustee for deposit in the Distribution Account on each Master Servicer Remittance Date, without any right of reimbursement therefor, an amount equal to the lesser of (i) the aggregate amount of Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received during the most recently ended Collection Period, and (ii) the total amount of Master Servicing Fees received by the Master Servicer during such Collection Period plus any Prepayment Interest Excesses received during such Collection Period.
(b) No more frequently than once per calendar month, the Special Servicer may require the Master Servicer, and the Master Servicer shall be obligated, to reimburse from its own funds the Special Servicer for any Servicing Advances made by but not previously reimbursed to the Special Servicer, and to pay the Special Servicer interest thereon at the Reimbursement Rate from the date made to, but not including, the date of reimbursement. Such reimbursement and any accompanying payment of interest shall be made within ten (10) days of the request therefor by wire transfer of immediately available funds to an account designated by the Special Servicer. Upon the Master Servicer's reimbursement to the Special Servicer of any Servicing Advance and payment to the Special Servicer of interest thereon, all in accordance with this Section 3.19(b), the Master Servicer shall for all purposes of this Agreement be deemed to have made such Servicing Advance at the same time as the Special Servicer actually made such Advance, and accordingly, the Master Servicer shall be entitled to reimbursement for such Advance, together with interest thereon in accordance with Sections 3.05(a) and 3.11(f), at the same time, in the same manner and to the same extent as the Master Servicer would otherwise have been entitled if it had actually made such Servicing Advance at the time the Special Servicer did. Notwithstanding anything to the contrary contained in this Agreement, if the Special Servicer is required under this Agreement to make any Servicing Advance but does not desire to do so, the Special Servicer may, in its sole discretion, request that the Master Servicer make such Advance, such request to be made in writing and in a timely manner that does not adversely affect the interests of any Certificateholder; provided, however, that the Special Servicer shall have an obligation to make any Emergency Advance. The Master Ser...
Additional Obligations of Master Servicer. The Master Servicer shall deliver to the Trustee for deposit in the Bond Account on each Master Servicer Remittance Date, without any right of reimbursement therefor, an amount equal to the lesser of (i) the aggregate amount of Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received during the most recently ended Collection Period, and (ii) the total amount of Master Servicing Fees received by the Master Servicer during such Collection Period plus any Prepayment Interest Excesses received during such Collection Period.
Additional Obligations of Master Servicer. (a) The Master Servicer shall deposit in the Collection Account on each P&I Advance Date, without any right of reimbursement therefor with respect to those Trust Mortgage Loans that were, in each such case, subject to a Principal Prepayment during the most recently ended Collection Period (other than Principal Prepayments made out of Insurance Proceeds or Liquidation
Additional Obligations of Master Servicer. The Master Servicer shall deliver to the Paying Agent for deposit in the Distribution Account on each P&I Advance Date, without any right of reimbursement therefor, an amount equal to the lesser of (i) the excess, if any, of (A) aggregate amount of Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received during the most recently ended Collection Period over (B) the aggregate amount of Prepayment Interest Excesses collected in connection with Principal Prepayments received during such Collection Period, and (ii) the total amount of servicing compensation received by the Master Servicer during such Collection Period; provided, however, that in determining servicing compensation of the initial Master Servicer for purposes of this Section 3.19, with respect to each Mortgage Loan for which the initial Master Servicer has received the Scheduled Payment for the related Due Date, the initial Master Servicer shall be deemed to have received a Servicing Fee computed based upon the Imputed Servicing Fee Rate.
Additional Obligations of Master Servicer. SECTION 3.20. Modifications, Waivers, Amendments and Consents.......
Additional Obligations of Master Servicer. The Master Servicer shall deliver to the Paying Agent for deposit in the Distribution Account on each P&I Advance Date, without any right of reimbursement therefor, an amount equal to the aggregate of any Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received during the most recently ended Collection Period (but only up to the sum of (i) a portion of the Master Servicing Fee for the related Collection Period equal to .01% per annum on a Mortgage Loan on an aggregate basis and (ii) any Prepayment Interest Excess received during such Collection Period); provided, however, that to the extent the Master Servicer accepts a prepayment on any day other than the Due Date and the applicable Mortgage Loan documents only permit the Mortgagor to make a prepayment on the Due Date, the Master Servicer shall deposit an amount equal to the sum of (i) the entire aggregate Master Servicer Fee payable to the Master Servicer for the related Collection Period plus (ii) any Prepayment Interest Excess received during such Collection Period.
Additional Obligations of Master Servicer. Section 3.20 Modifications, Waivers, Amendments and Consents........................................................ Section 3.21 Transfer of Servicing Between Master Servicer and Special Servicer; Record Keeping......................................................... Section 3.22 Sub-Servicing Agreements........................................ Section 3.23 Controlling ClassRepresentative................................ Section 3.24 Certain Rights and Powers of the Controlling ClassRepresentative................................ Section 3.25
Additional Obligations of Master Servicer. (a) The Master Servicer shall deliver to the Paying Agent for deposit in the Distribution Account on each P&I Advance Date, without any right of reimbursement therefor, an amount equal to the lesser of (i) the excess, if any, of (A) aggregate amount of Prepayment Interest Shortfalls incurred in connection with Principal Prepayments received during the most recently ended Collection Period over (B) the aggregate amount of Prepayment Interest Excesses collected in connection with Principal Prepayments received during such Collection Period, and (ii) the total amount of Master Servicing Fee received by the Master Servicer during such Collection Period (with respect to all Mortgage Loans other than Specially Serviced Mortgage Loans and only up to 0.01% per annum per Mortgage Loan on an aggregate basis).
(b) The Master Servicer shall, as to each Mortgage Loan which is secured by the interest of the related Mortgagor under a Ground Lease, unless the related ground lessor has previously received notice, promptly (and in any event within 45 days of the Closing Date) notify the related ground lessor of the transfer of such Mortgage Loan to the Trust Fund pursuant to this Agreement and inform such ground lessor that any notices of default under the related Ground Lease should thereafter be forwarded to the Master Servicer.
