Additional Terminations. Notwithstanding any provision herein to the contrary, this Agreement shall terminate with respect to any Mortgage Loan if and when (i) such Mortgage Loan becomes a Specially Serviced Mortgage Loan or an REO Mortgage Loan (provided that this Agreement shall resume as to such Mortgage Loan if and when such Mortgage Loan becomes a Rehabilitated Mortgage Loan), (ii) such Mortgage Loan is sold or otherwise disposed of by or on behalf of the Trust or (iii) such Mortgage Loan is defeased. In the event of such termination, the Subservicer shall comply with Section 6.5 as if a Subservicer Default had occurred, except that such Section shall be construed to relate only to such Mortgage Loan and references therein to Subservicing Termination Date shall be construed to mean the date of such termination, and (ii) the Subservicer shall cooperate in the orderly transfer of the servicing of such Mortgage Loan and shall forward to the Capmark Master Servicer such documents as it may receive from time to time with respect thereto and provide such other assistance as may reasonably be required by the Capmark Master Servicer with respect thereto. The Subservicer shall be entitled to all fees, compensation, interest and earnings on such Mortgage Loan (to which the Subservicer is otherwise entitled hereunder) accrued through the date of termination of its obligations and rights with respect to such Mortgage Loan under this Agreement, except that the Capmark Master Servicer shall be entitled to any and all fees actually collected in connection with the defeasance of any Mortgage Loan. If a Mortgage Loan subsequently becomes a Rehabilitated Mortgage Loan, then the Subservicer shall promptly resume the servicing of such Mortgage Loan in accordance with the terms hereof.
Appears in 2 contracts
Samples: Subservicing Agreement (Morgan Stanley Capital I Trust 2007-Iq16), Subservicing Agreement (Morgan Stanley Capital I Trust 2007-Iq15)
Additional Terminations. Notwithstanding any provision herein to the contrary, this Agreement shall terminate with respect to any Mortgage Loan if and when (i) such Mortgage Loan becomes a Specially Serviced Mortgage Loan or an REO Mortgage Loan (provided that this Agreement shall resume as to such Mortgage Loan if and when such Mortgage Loan becomes a Rehabilitated Mortgage Loan), ) or (ii) such Mortgage Loan is sold or otherwise disposed of by or on behalf of the Trust (which sale or (iii) such Mortgage disposition shall not include the transformation of a Loan is defeasedinto a Defeasance Loan). In the event of such termination, the Subservicer Primary Servicer shall comply with Section 6.5 as if a Subservicer Primary Servicer Default had occurred, except that such Section shall be construed to relate only to such Mortgage Loan and references therein to Subservicing Primary Servicing Termination Date shall be construed to mean the date of such termination, and (ii) the Subservicer Primary Servicer shall cooperate in the orderly transfer of the servicing of such Mortgage Loan and shall forward to the Capmark Master Servicer such documents as it may receive from time to time with respect thereto and provide such other assistance as may reasonably be required by the Capmark Master Servicer with respect thereto. The Subservicer Primary Servicer shall be entitled to all fees, compensation, interest and earnings on such Mortgage Loan (to which the Subservicer Primary Servicer is otherwise entitled hereunder) accrued through the date of termination of its obligations and end rights with respect to such Mortgage Loan under this Agreement, except that the Capmark Master Servicer shall be entitled to any and all fees actually collected in connection with the defeasance of any Mortgage Loan. If a Mortgage Loan subsequently becomes a Rehabilitated Mortgage Loan, then the Subservicer Primary Servicer shall promptly resume the servicing of such Mortgage Loan in accordance with the terms hereof.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq6), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq6)
Additional Terminations. Notwithstanding any provision herein to the contrary, this Agreement shall terminate with respect to any Mortgage Loan if and when (i) such Mortgage Loan becomes a Specially Serviced Mortgage Loan or an REO Mortgage Loan (provided that this Agreement shall resume as to such Mortgage Loan if and when such Mortgage Loan becomes a Rehabilitated Mortgage Loan), ) or (ii) such Mortgage Loan is sold or otherwise disposed of by or on behalf of the Trust (which sale or (iii) such Mortgage disposition shall not include the transformation of a Loan is defeasedinto a Defeasance Loan). In the event of such termination, the Subservicer Primary Servicer shall comply with Section 6.5 as if a Subservicer Primary Servicer Default had occurred, except that such Section shall be construed to relate only to such Mortgage Loan and references therein to Subservicing Primary Servicing Termination Date shall be construed to mean the date of such termination, and (ii) the Subservicer Primary Servicer shall cooperate in the orderly transfer of the servicing of such Mortgage Loan and shall forward to the Capmark Master Servicer such documents as it may receive from time to time with respect thereto and provide such other assistance as may reasonably be required by the Capmark Master Servicer with respect thereto. The Subservicer Primary Servicer shall be entitled to all fees, compensation, interest and earnings on such Mortgage Loan (to which the Subservicer Primary Servicer is otherwise entitled hereunder) accrued through the date of termination of its obligations and rights with respect to such Mortgage Loan under this Agreement, except that the Capmark Master Servicer shall be entitled to any and all fees actually collected in connection with the defeasance of any Mortgage Loan. If a Mortgage Loan subsequently becomes a Rehabilitated Mortgage Loan, then the Subservicer Primary Servicer shall promptly resume the servicing of such Mortgage Loan in accordance with the terms hereof.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq7), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Top20)
Additional Terminations. Notwithstanding any provision herein to the contrary, this Agreement shall terminate with respect to any Mortgage Loan if and when (i) such Mortgage Loan becomes a Specially Serviced Mortgage Loan or an REO Mortgage Loan (provided that this Agreement shall resume as to such Mortgage Loan if and when such Mortgage Loan becomes a Rehabilitated Mortgage Loan), ) or (ii) such Mortgage Loan is sold or otherwise disposed of by or on behalf of the Trust (which sale or (iii) such Mortgage disposition shall not include the transformation of a Loan is defeasedinto a Defeasance Loan). In the event of such termination, the Subservicer Primary Servicer shall comply with Section 6.5 as if a Subservicer Primary Servicer Default had occurred, except that such Section shall be construed to relate only to such Mortgage Loan and references therein to Subservicing Primary Servicing Termination Date shall be construed to mean the date of such termination, and (ii) the Subservicer Primary Servicer shall cooperate in the orderly transfer of the servicing of such Mortgage Loan and shall forward to the Capmark Master Servicer such documents as it may receive from time to time with respect thereto and provide such other assistance as may reasonably be required by the Capmark Master Servicer with respect thereto. The Subservicer Primary Servicer shall be entitled to all fees, compensation, interest and earnings on such Mortgage Loan (to which the Subservicer Primary Servicer is otherwise entitled hereunder) accrued through the date of termination of its obligations and rights with respect to such Mortgage Loan under this Agreement, except that the Capmark Master Servicer shall be entitled to any and all fees actually collected in connection with the defeasance of any Mortgage Loan. If a Mortgage Loan subsequently becomes a Rehabilitated Mortgage Loan, then the Subservicer Primary Servicer shall promptly resume the servicing of such Mortgage Loan in accordance with the terms hereof.
ARTICLE VII SUBCONTRACTORS Without prior notice to or the prior written consent of the Master Servicer, the Primary Servicer shall be permitted to employ, at its own expense, subcontractors to perform selected services (such as the engagement of tax monitoring services, property inspections, etc.) in connection with Primary Servicer's performance of the Services for the Mortgage Loans; provided, however, that: the Primary Servicer shall remain fully liable at all times for the timely performance of all Services and for all other obligations hereunder.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Top18), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Top18)
Additional Terminations. Notwithstanding any provision herein to the contrary, this Agreement shall terminate with respect to any Mortgage Loan if and when (i) such Mortgage Loan becomes a Specially Serviced Mortgage Loan or an REO Mortgage Loan (provided that this Agreement shall resume as to such Mortgage Loan if and when such Mortgage Loan becomes a Rehabilitated Mortgage Loan), or (ii) such Mortgage Loan is sold or otherwise disposed of by or on behalf of the Trust or (iii) such Mortgage Loan is defeasedTrust. In the event of such termination, the Subservicer shall comply with Section 6.5 as if a Subservicer Default had occurred, except that such Section shall be construed to relate only to such Mortgage Loan and references therein to Subservicing Termination Date shall be construed to mean the date of such termination, and (ii) the Subservicer shall cooperate in the orderly transfer of the servicing of such Mortgage Loan and shall forward to the Capmark Master Servicer such documents as it may receive from time to time with respect thereto and provide such other assistance as may reasonably be required by the Capmark Master Servicer with respect thereto. The Subservicer shall be entitled to all fees, compensation, interest and earnings on such Mortgage Loan (to which the Subservicer is otherwise entitled hereunder) accrued through the date of termination of its obligations and rights with respect to such Mortgage Loan under this Agreement, except that the Capmark Master Servicer shall be entitled to any and all fees actually collected in connection with the defeasance of any Mortgage Loan. If a Mortgage Loan subsequently becomes a Rehabilitated Mortgage Loan, then the Subservicer shall promptly resume the servicing of such Mortgage Loan in accordance with the terms hereof.
Appears in 1 contract
Samples: Subservicing Agreement (Morgan Stanley Capital I Trust 2006-Hq8)
Additional Terminations. Notwithstanding any provision herein to the contrary, this Agreement shall terminate with respect to any Mortgage Loan if and when (i) such Mortgage Loan becomes a Specially Serviced Mortgage Loan or an REO Mortgage Loan (provided that this Agreement shall resume as to such Mortgage Loan if and when such Mortgage Loan becomes a Rehabilitated Mortgage Loan), (ii) such Mortgage Loan is sold or otherwise disposed of by or on behalf of the Trust or (iii) such Mortgage Loan is defeased. In the event of such termination, the Subservicer shall comply with Section 6.5 as if a Subservicer Default had occurred, except that such Section shall be construed to relate only to such Mortgage Loan and references therein to Subservicing Termination Date shall be construed to mean the date of such termination, and (ii) the Subservicer shall cooperate in the orderly transfer of the servicing of such Mortgage Loan and shall forward to the Capmark Master Servicer such documents as it may receive from time to time with respect thereto and provide such other assistance as may reasonably be required by the Capmark Master Servicer with respect thereto. The Subservicer shall be entitled to all fees, compensation, interest and earnings on such Mortgage Loan (to which the Subservicer is otherwise entitled hereunder) accrued through the date of termination of its obligations and rights with respect to such Mortgage Loan under this Agreement, except that the Capmark Master Servicer shall be entitled to any and all fees actually collected in connection with the defeasance of any Mortgage Loan. If a Mortgage Loan subsequently becomes a Rehabilitated Mortgage Loan, then the Subservicer shall promptly resume the servicing of such Mortgage Loan in accordance with the terms hereof.
Appears in 1 contract
Samples: Subservicing Agreement (Morgan Stanley Capital I Trust 2007-Iq14)
Additional Terminations. Notwithstanding any provision herein to the contrary, this Agreement shall terminate with respect to any Mortgage Loan if and when (i) such Mortgage Loan becomes a Specially Serviced Mortgage Loan or an REO Mortgage Loan (provided that this Agreement shall resume as to such Mortgage Loan if and when such Mortgage Loan becomes a Rehabilitated Corrected Mortgage Loan), ) or (ii) such Mortgage Loan is sold or otherwise disposed of by or on behalf of the Trust or (iii) such Mortgage Loan is defeasedTrust. In the event of such termination, (i) the Subservicer shall comply with Section 6.5 as if a Subservicer Default had occurred, except that such Section shall be construed to relate only to such Mortgage Loan and references therein to Subservicing Termination Date shall be construed to mean the date of such termination, and (ii) the Subservicer shall cooperate in the orderly transfer of the servicing of such Mortgage Loan and shall forward to the Capmark Master Servicer such documents as it may receive from time to time with respect thereto and provide such other assistance as may reasonably be required by the Capmark Master Servicer with respect thereto. The Subservicer shall be entitled to all fees, compensation, interest and earnings on such Mortgage Loan (to which the Subservicer is otherwise entitled hereunder) accrued through the date of termination of its obligations and rights with respect to such Mortgage Loan under this Agreement, except that the Capmark Master Servicer shall be entitled to any and all fees actually collected in connection with the defeasance of any Mortgage Loan. If a Mortgage Loan subsequently becomes a Rehabilitated Corrected Mortgage Loan, then the Subservicer shall promptly resume the servicing of such Mortgage Loan in accordance with the terms hereof.
Appears in 1 contract
Samples: Subservicing Agreement (COMM 2006-C7 Mortgage Trust)
Additional Terminations. Notwithstanding any provision herein to the contrary, this Agreement shall terminate with respect to any Mortgage Loan if and when (i) such Mortgage Loan becomes a Specially Serviced Mortgage Loan or an REO Mortgage Loan (provided that this Agreement shall resume as to such Mortgage Loan if and when such Mortgage Loan becomes a Rehabilitated Mortgage Loan), (ii) such Mortgage Loan is sold or otherwise disposed of by or on behalf of the Trust or (iii) such Mortgage Loan is defeased. In the event of such termination, the Subservicer Primary Servicer shall comply with Section 6.5 as if a Subservicer Primary Servicer Default had occurred, except that such Section shall be construed to relate only to such Mortgage Loan and references therein to Subservicing Primary Servicing Termination Date shall be construed to mean the date of such termination, and (ii) the Subservicer Primary Servicer shall cooperate in the orderly transfer of the servicing of such Mortgage Loan and shall forward to the Capmark Master Servicer such documents as it may receive from time to time with respect thereto and provide such other assistance as may reasonably be required by the Capmark Master Servicer with respect thereto. The Subservicer Primary Servicer shall be entitled to all fees, compensation, interest and earnings on such Mortgage Loan (to which the Subservicer Primary Servicer is otherwise entitled hereunder) accrued through the date of termination of its obligations and rights with respect to such Mortgage Loan under this Agreement, except that the Capmark Master Servicer shall be entitled to any and all fees actually collected in connection with the defeasance of any Mortgage Loan. If a Mortgage Loan subsequently becomes a Rehabilitated Mortgage Loan, then the Subservicer Primary Servicer shall promptly resume the servicing of such Mortgage Loan in accordance with the terms hereof.
Appears in 1 contract
Samples: Primary Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq13)