Common use of Administration of the Loans Clause in Contracts

Administration of the Loans. (a) All of the Serviced Loans and Administered REO Properties (which does not include the Windsor Capital Portfolio Loan Pair) are to be serviced and administered by the Master Servicer and/or the Special Servicer hereunder. Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and REO Properties that it is obligated to service and administer pursuant to this Agreement on behalf of the Trustee, for the benefit of the Certificateholders (or, in the case of the Companion Loans, on behalf of the related Companion Loan Noteholders), as determined in the good faith and reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, in accordance with: (i) any and all applicable laws; (ii) the express terms of this Agreement, the respective Serviced Loans and, in the case of the Loan Pairs, the related Co-Lender Agreement; and (iii) to the extent consistent with the foregoing, the Servicing Standard. The Master Servicer or the Special Servicer, as applicable in accordance with this Agreement, shall service and administer each Cross-Collateralized Group as a single Mortgage Loan as and when necessary and appropriate consistent with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.22, (i) the Master Servicer shall service and administer all of the Performing Serviced Loans and shall render such services with respect to the Specially Serviced Loans as are specifically provided for herein, and (ii) the Special Servicer shall service and administer each Specially Serviced Loan and Administered REO Property and shall render such services with respect to the Performing Serviced Loans as are specifically provided for herein. All references herein to the respective duties of the Master Servicer and the Special Servicer, and to the areas in which they may exercise discretion, shall be subject to Section 3.22. The parties hereto acknowledge that the Windsor Capital Portfolio Loan Pair and any related REO property are being serviced and administered under the 2003-C1 PSA and the 2003-C1 Master Servicer will make any advances required thereunder in respect of such loan and remit collections on the Windsor Capital Portfolio Trust Loan to or on behalf of the Trust. The Master Servicer, the Special Servicer, the Trustee or the Fiscal Agent shall have no obligation or authority to supervise the 2003-C1 Master Servicer, the 2003-C1 Special Servicer, the 2003-C1 Trustee or the 2003-C1 Fiscal Agent or to make Servicing Advances or P&I Advances, except to the limited extent described in Section 4.03A with respect to P&I Advances to be made by the Master Servicer, the Trustee or the Fiscal Agent with respect to the Windsor Capital Portfolio Trust Loan. Although the Windsor Capital Portfolio Loan Pair is being serviced under the 2003-C1 PSA, the Controlling Class Representative will have certain rigxxx xxxxxxxg to the servicing of the Windsor Capital Portfolio Loan Pair as "Directing Holder" under the 2003-C1 PSA during an "Appraisal Control Event" as such term is defined in the 2003-C1 PSA. The obligation of the Master Servicer to provide information and collections to the Trustee and the Certi?cateholders with respect to the Windsor Capital Portfolio Loan Pair shall be dependent on its receipt of the corresponding information and collections from the 2003-C1 Master Servicer or the 2003-C1 Special Servicer.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Greenwich Capital Comm Mort Pass THR Certs Ser 2003-C2), Pooling and Servicing Agreement (Greenwich Capital Comm Mort Pass THR Certs Ser 2003-C2)

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Administration of the Loans. (a) All of the Serviced Loans and Administered REO Properties (which does not include the Windsor Capital Portfolio Non-Serviced Loan PairGroups) are to be serviced and administered by the Master Servicer and/or the Special Servicer hereunder. Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and REO Properties that it is obligated to service and administer pursuant to this Agreement on behalf of the Trustee, for the benefit of the Certificateholders (or, in the case of the Companion Loans, on behalf of the related Companion Loan Noteholders), as determined in the good faith and reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, in accordance with: (i) any and all applicable laws; (ii) the express terms of this Agreement, the respective Serviced Loans and, in the case of the Loan PairsGroups, the related Co-Lender Agreement; and (iii) to the extent consistent with the foregoing, the Servicing Standard. The Master Servicer or the Special Servicer, as applicable in accordance with this Agreement, shall service and administer each Cross-Collateralized Group Group, if any, as a single Mortgage Loan as and when necessary and appropriate consistent with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.22, (i) the Master Servicer shall service and administer all of the Performing Serviced Loans and shall render such services with respect to the Specially Serviced Loans as are specifically provided for herein, and (ii) the Special Servicer shall service and administer each Specially Serviced Loan and Administered REO Property and shall render such services with respect to the Performing Serviced Loans as are specifically provided for herein. All references herein to the respective duties of the Master Servicer and the Special Servicer, and to the areas in which they may exercise discretion, shall be subject to Section 3.22. The parties hereto acknowledge that the Windsor Capital Portfolio Non-Serviced Loan Pair Groups and any related REO property Property are being serviced and administered under the 2003-C1 applicable Lead PSA and the 2003-C1 applicable Lead Master Servicer will make any advances required thereunder in respect of such loan and remit collections on the Windsor Capital Portfolio Non-Serviced Trust Loan Loans to or on behalf of the Trust. The Master Servicer, the Special Servicer, Servicer or the Trustee or the Fiscal Agent shall have no obligation or authority to supervise the 2003-C1 applicable Lead Master Servicer, the 2003-C1 applicable Lead Special Servicer, the 2003-C1 applicable Lead Trustee or the 2003-C1 Lead Fiscal Agent or to make Servicing Advances or P&I Advances, except to the limited extent as described in Section 4.03A with respect to P&I Advances to be made by the Master Servicer, Servicer or the Trustee or the Fiscal Agent with respect to certain of the Windsor Capital Portfolio Non-Serviced Trust LoanLoans. Although the Windsor Capital Portfolio Non-Serviced Loan Pair is Groups are being serviced under the 2003-C1 applicable Lead PSA, the Controlling Class Representative Directing Holder will have certain rigxxx xxxxxxxg rights relating to the servicing of the Windsor Capital Portfolio Non-Serviced Loan Pair as "Directing Holder" under Groups pursuant to the 2003applicable Lead PSA and the applicable Co-C1 PSA during an "Appraisal Control Event" as such term is defined in the 2003-C1 PSALender Agreement. The obligation of the Master Servicer to provide information and collections to the Trustee and the Certi?cateholders Certificateholders with respect to the Windsor Capital Portfolio Non-Serviced Loan Pair Groups shall be dependent on its receipt of the corresponding information and collections from the 2003-C1 applicable Lead Master Servicer or the 2003-C1 applicable Lead Special Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenwich Capital Commercial Funding Corp. Commercial Mortgage Trust 2006-Gg7)

Administration of the Loans. (a) All of the Serviced Loans and Administered REO Properties (which does not include other than the Windsor Capital Portfolio _______________ Mortgage Loan Pairand any _______________ REO Property) are to be serviced and administered by the Master Servicer and/or the Special Servicer hereunder. Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and REO Properties that it is obligated to service and administer pursuant to this Agreement on behalf of the Trustee, for the benefit of the Certificateholders (or, in the case of the _______________ Companion LoansLoan, on behalf of the related _______________ Companion Loan NoteholdersNoteholder), as determined in the good faith and reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, in accordance with: (i) any and all applicable laws; (ii) the express terms of this Agreement, the respective Serviced Loans and, in the case of the _______________ Loan PairsPair, the related _______________ Co-Lender Agreement; and (iii) to the extent consistent with the foregoing, the Servicing Standard. The Master Servicer or the Special Servicer, as applicable in accordance with this Agreement, shall service and administer each Cross-Collateralized Group as a single Mortgage Loan as and when necessary and appropriate consistent with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.223.21, (i) the Master Servicer shall service and administer all of the Performing Serviced Loans and shall render such services with respect to the Specially Serviced Loans as are specifically provided for herein, and (ii) the Special Servicer shall service and administer each Specially Serviced Loan and Administered REO Property and shall render such services with respect to the Performing Serviced Loans as are specifically provided for herein. All references herein to the respective duties of the Master Servicer and the Special Servicer, and to the areas in which they may exercise discretion, shall be subject to Section 3.22. The parties hereto acknowledge that the Windsor Capital Portfolio Loan Pair and any related REO property are being serviced and administered under the 2003-C1 PSA and the 2003-C1 Master Servicer will make any advances required thereunder in respect of such loan and remit collections on the Windsor Capital Portfolio Trust Loan to or on behalf of the Trust. The Master Servicer, the Special Servicer, the Trustee or the Fiscal Agent shall have no obligation or authority to supervise the 2003-C1 Master Servicer, the 2003-C1 Special Servicer, the 2003-C1 Trustee or the 2003-C1 Fiscal Agent or to make Servicing Advances or P&I Advances, except to the limited extent described in Section 4.03A with respect to P&I Advances to be made by the Master Servicer, the Trustee or the Fiscal Agent with respect to the Windsor Capital Portfolio Trust Loan. Although the Windsor Capital Portfolio Loan Pair is being serviced under the 2003-C1 PSA, the Controlling Class Representative will have certain rigxxx xxxxxxxg to the servicing of the Windsor Capital Portfolio Loan Pair as "Directing Holder" under the 2003-C1 PSA during an "Appraisal Control Event" as such term is defined in the 2003-C1 PSA. The obligation of the Master Servicer to provide information and collections to the Trustee and the Certi?cateholders with respect to the Windsor Capital Portfolio Loan Pair shall be dependent on its receipt of the corresponding information and collections from the 2003-C1 Master Servicer or the 2003-C1 Special Servicer3.21.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Securities Corp Ii)

Administration of the Loans. (a) All of the Serviced Loans and Administered REO Properties (which does not include the Windsor Capital Portfolio Loan Pair311 South Wacker Dxxxx X/X Xxxx xxx xxxx include the Oakmonte Junior Portion) are to be serviced and administered by the Master Servicer and/or the Special Servicer hereunder. Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and REO Properties that it is obligated to service and administer pursuant to this Agreement on behalf of the Trustee, for the benefit of the Certificateholders (or, in the case of the Companion Loans, on behalf of the Certificateholder and the related Companion Loan NoteholdersNoteholder), as determined in the good faith and reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, in accordance with: (i) any and all applicable laws; (ii) the express terms of this Agreement, the respective Serviced Loans and, in the case of the Loan PairsPairs (other than the Oakmonte Apartment Homes Whole Loan), the related Loan Pair Co-Lender Agreement; and (iii) to the extent consistent with the foregoing, the Servicing Standard. The Master Servicer or the Special Servicer, as applicable in accordance with this Agreement, shall service and administer each Cross-Collateralized Group as a single Mortgage Loan as and when necessary and appropriate consistent with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.223.21, (i) the Master Servicer shall service and administer all of the Performing Serviced Loans and shall render such services with respect to the Specially Serviced Loans as are specifically provided for herein, and (ii) the Special Servicer shall service and administer each Specially Serviced Loan and Administered REO Property and shall render such services with respect to the Performing Serviced Loans as are specifically provided for herein. All references herein to the respective duties of the Master Servicer and the Special Servicer, and to the areas in which they may exercise discretion, shall be subject to Section 3.223.21. The parties hereto acknowledge that the Windsor Capital Portfolio Loan Pair and any 311 South Wacker Dxxxx X/X Xxxx xxx xxx related REO property are being serviced and administered under the 20032002-C1 PSA and the 20032002-C1 Master Servicer will make any advances required thereunder in respect of such loan and remit collections on the Windsor Capital Portfolio Trust Loan to 311 South Wacker Dxxxx Xxxxx Xxxx xx or on behalf of the Trust. The Master Servicer, the Special Servicer, the Trustee or the Fiscal Agent shall have no obligation or authority to supervise the 20032002-C1 Master Servicer, the 20032002-C1 Special Servicer, the 20032002-C1 Trustee or the 20032002-C1 Fiscal Agent or to make Servicing Advances or P&I Advances, Advances (except to the limited extent described in Section 4.03A with respect to P&I Advances to be made by the Master Servicer, the Trustee or the Fiscal Agent with respect to on the Windsor Capital Portfolio Trust Loan. Although the Windsor Capital Portfolio Loan Pair is being serviced under the 2003-C1 PSA, the Controlling Class Representative will have certain rigxxx xxxxxxxg to the servicing of the Windsor Capital Portfolio Loan Pair as "Directing Holder" under the 2003-C1 PSA during an "Appraisal Control Event" as such term is defined in the 2003-C1 PSA311 South Wacker Dxxxx Xxxxx Xxxx). The obligation of the Master Servicer to provide information and collections to the Trustee and the Certi?cateholders with respect to the Windsor Capital Portfolio Loan Pair shall be 311 South Wacker Dxxxx X/X Xxxx xxxxx xx dependent on its receipt of the corresponding information and collections from the 20032002-C1 Master Servicer or the 20032002-C1 Special Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenwich Capital Commercial Fund Corp Comm Mort Tr 2003-C1)

Administration of the Loans. (a) All of the Serviced Loans and Administered REO Properties (which does not include the Windsor Capital Portfolio Non-Serviced Loan PairGroups) are to be serviced and administered by the Master Servicer and/or the Special Servicer hereunder. Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and REO Properties that it is obligated to service and administer pursuant to this Agreement on behalf of the Trustee, for the benefit of the Certificateholders (or, in the case of the Companion Loans, on behalf of the related Companion Loan Noteholders), as determined in the good faith and reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, in accordance with: (i) any and all applicable laws; (ii) the express terms of this Agreement, the respective Serviced Loans and, in the case of the Loan PairsGroups, the related Co-Lender Agreement; and (iii) to the extent consistent with the foregoing, the Servicing Standard. The Master Servicer or the Special Servicer, as applicable in accordance with this Agreement, shall service and administer each Cross-Collateralized Group Group, if any, as a single Mortgage Loan as and when necessary and appropriate consistent with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.22, (i) the Master Servicer shall service and administer all of the Performing Serviced Loans and shall render such services with respect to the Specially Serviced Loans as are specifically provided for herein, and (ii) the Special Servicer shall service and administer each Specially Serviced Loan and Administered REO Property and shall render such services with respect to the Performing Serviced Loans as are specifically provided for herein. All references herein to the respective duties of the Master Servicer and the Special Servicer, and to the areas in which they may exercise discretion, shall be subject to Section 3.22. The parties hereto acknowledge that the Windsor Capital Portfolio Non-Serviced Loan Pair Groups and any related REO property are being serviced and administered under the 2003-C1 applicable Lead PSA and the 2003-C1 applicable Lead Master Servicer will make any advances required thereunder in respect of such loan and remit collections on the Windsor Capital Portfolio Non-Serviced Trust Loan Loans to or on behalf of the Trust. The Master Servicer, the Special Servicer, Servicer or the Trustee or the Fiscal Agent shall have no obligation or authority to supervise the 2003-C1 applicable Lead Master Servicer, the 2003-C1 applicable Lead Special Servicer, the 2003-C1 Trustee Servicer or the 2003-C1 Fiscal Agent applicable Lead Trustee or to make Servicing Advances or P&I Advances, except to the limited extent as described in Section 4.03A with respect to P&I Advances to be made by the Master Servicer, Servicer or the Trustee or the Fiscal Agent with respect to certain of the Windsor Capital Portfolio Non-Serviced Trust LoanLoans. Although the Windsor Capital Portfolio Non-Serviced Loan Pair is Groups are being serviced under the 2003-C1 applicable Lead PSA, the Controlling Class Representative Directing Holder will have certain rigxxx xxxxxxxg rights relating to the servicing of the Windsor Capital Portfolio Non-Serviced Loan Pair as "Directing Holder" under Groups pursuant to the 2003applicable Lead PSA and the applicable Co-C1 PSA during an "Appraisal Control Event" as such term is defined in the 2003-C1 PSALender Agreement. The obligation of the Master Servicer to provide information and collections to the Trustee and the Certi?cateholders with respect to the Windsor Capital Portfolio Non-Serviced Loan Pair Groups shall be dependent on its receipt of the corresponding information and collections from the 2003-C1 applicable Lead Master Servicer or the 2003-C1 applicable Lead Special Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenwich Capital Commercial Funding Corp)

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Administration of the Loans. (a) All of the Serviced Loans and Administered REO Properties (which does not include the Windsor Capital Portfolio Loan Pair) are to be serviced and administered by the Master Servicer and/or the Special Servicer hereunder. Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans (excluding the Fashion Show Mall Mortgage Loan) and any REO Properties (excluding any REO Property related to the Fashion Show Mall Mortgage Loan) that it is obligated to service and administer pursuant to this Agreement on behalf of the Trustee, and in the best interests and for the benefit of the Certificateholders (ortaking into account the subordination of the CP Subordinate Component), or if a Whole Loan is affected, in the case best interest and for the benefit of the Companion Loans, on behalf of Certificateholders and the related Companion Loan Noteholders)Noteholders (as a collective whole taking into account the subordination of the CP Subordinate Component, the Mission City Corporate Center B Note and the Regents Square I & II B Note, as determined in the good faith and reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, applicable) in accordance with: (i) with any and all applicable laws; (ii) , the express terms of this Agreement, the terms of the respective Serviced Loans and, and in the case of the Loan Pairsa Whole Loan, the related Co-Lender Intercreditor Agreement; and (iii) , and, to the extent consistent with the foregoing, the Servicing Standard. The Master Servicer or the Special Servicer, as applicable in accordance with this Agreement, shall service and administer each Cross-Collateralized Group as a single Mortgage Loan as and when necessary and appropriate consistent with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.223.21, (i) the Master Servicer shall service and administer all of Performing Loans (other than the Performing Serviced Loans and shall render such services with respect to the Specially Serviced Loans as are specifically provided for hereinFashion Show Mall Mortgage Loan), and (ii) the Special Servicer shall service and administer (x) each Loan (other than a Corrected Loan or the Fashion Show Mall Mortgage Loan) as to which a Servicing Transfer Event has occurred and is continuing, and (y) each REO Property (other than any REO Property related to the Fashion Show Mall Mortgage Loan); provided, however, that the Master Servicer shall continue to collect information and prepare all reports to the Trustee required hereunder with respect to any Specially Serviced Loan Loans and Administered REO Property Properties (and shall the related REO Loans), and further to render such incidental services with respect to any Specially Serviced Loans and REO Properties as are specifically provided for herein; and provided, further, that the Special Servicer shall render such incidental services with respect to Performing Serviced Loans as are specifically provided for herein. All references herein to the respective duties of the The Master Servicer and the Special Servicershall not, and to the areas in which they may exercise discretion, shall be subject to Section 3.22. The parties hereto acknowledge that the Windsor Capital Portfolio Loan Pair and any related REO property are being serviced and administered under the 2003-C1 PSA and the 2003-C1 Master Servicer will make any advances required thereunder in respect of such loan and remit collections on the Windsor Capital Portfolio Trust Loan to or on behalf of the Trust. The Master Servicer, the Special Servicer, the Trustee or the Fiscal Agent shall have no obligation or authority obtain title to supervise the 2003-C1 Master Servicer, the 2003-C1 Special Servicer, the 2003-C1 Trustee or the 2003-C1 Fiscal Agent or to make Servicing Advances or P&I Advances, except to the limited extent described in Section 4.03A with respect to P&I Advances to be made by the Master Servicer, the Trustee or the Fiscal Agent with respect to the Windsor Capital Portfolio Trust Loan. Although the Windsor Capital Portfolio Loan Pair is being serviced under the 2003-C1 PSA, the Controlling Class Representative will have certain rigxxx xxxxxxxg to the servicing of the Windsor Capital Portfolio Loan Pair as "Directing Holder" under the 2003-C1 PSA during an "Appraisal Control Event" as such term is defined in the 2003-C1 PSA. The obligation of the Master Servicer to provide information and collections to the Trustee and the Certi?cateholders with respect to the Windsor Capital Portfolio Loan Pair shall be dependent on its receipt of the corresponding information and collections from the 2003-C1 Master Servicer or the 2003-C1 Special Servicera Mortgaged Property.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2005-2)

Administration of the Loans. (a) All of the Serviced Loans and Administered REO Properties (which does not include the Windsor Capital Portfolio Non-Serviced Loan PairGroups) are to be serviced and administered by the Master Servicer and/or the Special Servicer hereunder. Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and REO Properties that it is obligated to service and administer pursuant to this Agreement on behalf of the Trustee, for the benefit of the Certificateholders (or, in the case of the Companion Loans, on behalf of the related Companion Loan Noteholders), as determined in the good faith and reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, in accordance with: (i) any and all applicable laws; (ii) the express terms of this Agreement, the respective Serviced Loans and, in the case of the Loan PairsGroups, the related Co-Lender Agreement; and (iii) to the extent consistent with the foregoing, the Servicing Standard. The Master Servicer or the Special Servicer, as applicable in accordance with this Agreement, shall service and administer each Cross-Collateralized Group Group, if any, as a single Mortgage Loan as and when necessary and appropriate consistent with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.22, (i) the Master Servicer shall service and administer all of the Performing Serviced Loans and shall render such services with respect to the Specially Serviced Loans as are specifically provided for herein, and (ii) the Special Servicer shall service and administer each Specially Serviced Loan and Administered REO Property and shall render such services with respect to the Performing Serviced Loans as are specifically provided for herein. All references herein to the respective duties of the Master Servicer and the Special Servicer, and to the areas in which they may exercise discretion, shall be subject to Section 3.22. The parties hereto acknowledge that the Windsor Capital Portfolio Non-Serviced Loan Pair Groups and any related REO property are being serviced and administered under the 2003-C1 applicable Lead PSA and the 2003-C1 applicable Lead Master Servicer will make any advances required thereunder in respect of such loan and remit collections on the Windsor Capital Portfolio Non-Serviced Trust Loan Loans to or on behalf of the Trust. The Master Servicer, the Special Servicer, the Trustee or the Fiscal Agent shall have no obligation or authority to supervise the 2003-C1 applicable Lead Master Servicer, the 2003-C1 applicable Lead Special Servicer, the 2003-C1 applicable Lead Trustee or the 2003-C1 applicable Lead Fiscal Agent or to make Servicing Advances or P&I Advances, except to the limited extent as described in Section 4.03A with respect to P&I Advances to be made by the Master Servicer, the Trustee or the Fiscal Agent with respect to certain of the Windsor Capital Portfolio Non-Serviced Trust LoanLoans. Although the Windsor Capital Portfolio Non-Serviced Loan Pair is Groups are being serviced under the 2003-C1 applicable Lead PSA, the Controlling Class Representative Directing Holder will have certain rigxxx xxxxxxxg rights relating to the servicing of the Windsor Capital Portfolio Non-Serviced Loan Pair as "Directing Holder" under Groups pursuant to the 2003applicable Lead PSA and the applicable Co-C1 PSA during an "Appraisal Control Event" as such term is defined in the 2003-C1 PSALender Agreement. The obligation of the Master Servicer to provide information and collections to the Trustee and the Certi?cateholders with respect to the Windsor Capital Portfolio Non-Serviced Loan Pair Groups shall be dependent on its receipt of the corresponding information and collections from the 2003-C1 applicable Lead Master Servicer or the 2003-C1 applicable Lead Special Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (GCCFC 2005-Gg3)

Administration of the Loans. (a) All of the Serviced Loans and Administered REO Properties (which does not include the Windsor Capital Portfolio Non-Serviced Loan PairGroups) are to be serviced and administered by the Master Servicer and/or the Special Servicer hereunder. Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and REO Properties that it is obligated to service and administer pursuant to this Agreement on behalf of the Trustee, for the benefit of the Certificateholders (or, in the case of the Companion Loans, on behalf of the related Companion Loan Noteholders), as determined in the good faith and reasonable judgment of the Master Servicer or the Special Servicer, as the case may be, in accordance with: (i) any and all applicable laws; (ii) the express terms of this Agreement, the respective Serviced Loans and, in the case of the Loan PairsGroups, the related Co-Lender Agreement; and (iii) to the extent consistent with the foregoing, the Servicing Standard. The Master Servicer or the Special Servicer, as applicable in accordance with this Agreement, shall service and administer each Cross-Collateralized Group as a single Mortgage Loan as and when necessary and appropriate consistent with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.22, (i) the Master Servicer shall service and administer all of the Performing Serviced Loans and shall render such services with respect to the Specially Serviced Loans as are specifically provided for herein, and (ii) the Special Servicer shall service and administer each Specially Serviced Loan and Administered REO Property and shall render such services with respect to the Performing Serviced Loans as are specifically provided for herein. All references herein to the respective duties of the Master Servicer and the Special Servicer, and to the areas in which they may exercise discretion, shall be subject to Section 3.22. The parties hereto acknowledge that the Windsor Capital Portfolio Non-Serviced Loan Pair Groups and any related REO property are being serviced and administered under the 2003-C1 applicable Lead PSA and the 2003-C1 applicable Lead Master Servicer will make any advances required thereunder in respect of such loan and remit collections on the Windsor Capital Portfolio Non-Serviced Trust Loan Loans to or on behalf of the Trust. The Master Servicer, the Special Servicer, the Trustee or the Fiscal Agent shall have no obligation or authority to supervise the 2003-C1 applicable Lead Master Servicer, the 2003-C1 applicable Lead Special Servicer, the 2003-C1 applicable Lead Trustee or the 2003-C1 applicable Lead Fiscal Agent or to make Servicing Advances or P&I Advances, except to the limited extent as described in Section 4.03A with respect to P&I Advances to be made by the Master Servicer, the Trustee or the Fiscal Agent with respect to certain of the Windsor Capital Portfolio Non-Serviced Trust LoanLoans. Although the Windsor Capital Portfolio Non-Serviced Loan Pair is Groups are being serviced under the 2003-C1 applicable Lead PSA, the Controlling Class Representative Directing Holder will have certain rigxxx xxxxxxxg rights relating to the servicing of the Windsor Capital Portfolio Non-Serviced Loan Pair as "Directing Holder" under Groups pursuant to the 2003applicable Lead PSA and the applicable Co-C1 PSA during an "Appraisal Control Event" as such term is defined in the 2003-C1 PSALender Agreement. The obligation of the Master Servicer to provide information and collections to the Trustee and the Certi?cateholders with respect to the Windsor Capital Portfolio Non-Serviced Loan Pair Groups shall be dependent on its receipt of the corresponding information and collections from the 2003-C1 applicable Lead Master Servicer or the 2003-C1 applicable Lead Special Servicer.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenwich Capital Commercial Funding Corp. Commercial Mortgage Pass-Through Certificates Series 2004-Gg1)

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