Common use of Administration of the Serviced Loans Clause in Contracts

Administration of the Serviced Loans. (a) Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and any REO Properties 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 and, in the case of a Serviced Whole Loan, on behalf of the related Companion Loan Holder, as a collective whole (and, in the case of a Serviced Whole Loan that is an A/B Whole Loan, taking into account the subordination of the related Companion Loan), in accordance with any and all applicable laws, the terms of this Agreement, the terms of the respective Serviced Loans and, in the case of a Serviced Whole Loan, the related Intercreditor Agreement, and, to the extent consistent with the foregoing, in accordance with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.21, (i) the Master Servicer shall service and administer all Performing Serviced Loans, and (ii) the Special Servicer shall service and administer (x) each Serviced Loan (other than a Corrected Serviced Loan) as to which a Servicing Transfer Event has occurred and is continuing, and (y) each REO Property; provided, however, the Master Servicer shall continue to collect information and prepare all reports to the Trustee and the Certificate Administrator required hereunder with respect to any Specially Serviced Loans and REO Properties (and 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, the Special Servicer shall render such incidental services with respect to Performing Serviced Loans as are specifically provided for herein. The Master Servicer shall not, on behalf of the Trust, obtain title to a Mortgaged Property.

Administration of the Serviced Loans. (a) Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and any REO Properties 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 and, in the case of a the Serviced Whole Loan, on behalf of the related Companion Loan Holder, One Stamford Forum Note B Holder (as a collective whole (and, in the case of a Serviced Whole Loan that is an A/B Whole Loan, taking into account the subordination of the related Companion Loan), One Stamford Forum Note B) in accordance with any and all applicable laws, the terms of this Agreement, the terms of the respective Serviced Loans and, and in the case of a the Serviced Whole Loan, the related Intercreditor Agreement, and, to the extent consistent with the foregoing, in accordance with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.21, (i) the Master Servicer shall service and administer all Performing Serviced Loans, and (ii) the Special Servicer shall service and administer (x) each Serviced Loan (other than a Corrected Serviced Loan) as to which a Servicing Transfer Event has occurred and is continuing, and (y) each REO Property; provided, however, that the Master Servicer shall continue to collect information and prepare all reports to the Trustee and the Certificate Administrator required hereunder with respect to any Specially Serviced Loans and REO Properties (and the related REO Serviced 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. The Master Servicer shall not, on behalf of the Trust, obtain title to a Mortgaged Property.

Administration of the Serviced Loans. (a) Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and any REO Properties that it each 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 and(or, in the case of a Serviced Whole Loan, on behalf of the related Companion Loan Holder, as a collective whole (and, in the case of a Serviced Whole Loan that is an any A/B Whole LoanLoan Combination, for the benefit of the Certificateholders and the related B-Noteholder(s), taking into account consideration the subordination of the related Companion LoanB-Note Loan(s) as set forth in the related A/B Intercreditor Agreement), in accordance with any and all applicable laws, the terms of this Agreement, the terms of the respective Serviced Loans andand any and all intercreditor, in the case of a Serviced Whole Loan, the related Intercreditor Agreement, co-lender and similar agreements and, to the extent consistent with the foregoing, in accordance with the Servicing Standard. With respect to each A/B Loan Combination, in the event of a conflict between this Agreement and the related A/B Intercreditor Agreement, such Intercreditor Agreement shall control; provided, however, that in no event shall the Master Servicer or the Special Servicer take any action or omit to take any action in accordance with the terms of any A/B Intercreditor Agreement that would cause such servicer to violate the Servicing Standard, applicable law, the Grantor Trust Provisions or the REMIC Provisions. Without limiting the foregoing, and subject to Section 3.21, (i) the Master Servicer shall service and administer all Performing Serviced Loans that are not Specially Serviced Loans, and (ii) the Special Servicer shall service and administer (x) each Specially Serviced Loan (other than a Corrected Serviced Loan) as to which a Servicing Transfer Event has occurred and is continuing, Administered REO Property and (y) each REO Property; provided, however, the Master Servicer shall continue to collect information and prepare all reports to the Trustee and the Certificate Administrator required hereunder with respect to any Specially Serviced Loans and REO Properties (and the related REO Loans), and further to render such incidental services with respect to any Specially all Serviced Loans and Administered REO Properties as are specifically provided for herein; provided that the Master Servicer shall continue to receive payments, make all calculations, and providedprepare, furtheror cause to be prepared, all reports required hereunder with respect to the Specially Serviced Loans, except for the reports specified herein as prepared by the Special Servicer shall Servicer, as if no Servicing Transfer Event had occurred and with respect to the Administered REO Properties (and any related REO Loans), as if no REO Acquisition had occurred, and to render such incidental services with respect to Performing such Specially Serviced Loans and Administered REO Properties as are specifically provided for herein. The ; provided further, however, that the Master Servicer shall not, on behalf not be liable for its failure to comply with such duties insofar as such failure results from a failure by the Special Servicer to provide sufficient information to the Master Servicer to comply with such duties or failure by the Special Servicer to otherwise comply with its obligations hereunder. All references herein to the respective duties of the TrustMaster Servicer and the Special Servicer, obtain title and to a Mortgaged Propertythe areas in which they may exercise discretion, shall be subject to Section 3.21.

Administration of the Serviced Loans. (a) Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and any REO Properties that it each 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 and(or, in the case of a Serviced Whole Loanany Loan Combination, on behalf for the benefit of the Certificateholders and the related Companion Non-Trust Loan HolderNoteholder(s), as a collective whole (andtaking into consideration, in the case of a Serviced Whole the Wimbledon Place Apartments Loan that is an A/B Whole LoanCombination, taking into account the subordination of the Wimbledon Place Apartments Non-Trust Loan as set forth in the related Companion LoanCo-Lender Agreement), in accordance with any and all applicable laws, the terms of this Agreement, the terms of the respective Serviced Loans andand any and all intercreditor, in the case of a Serviced Whole Loan, the related Intercreditor Agreement, co-lender and similar agreements and, to the extent consistent with the foregoing, in accordance with the Servicing Standard. With respect to each Loan Combination, in the event of a conflict between this Agreement and the related Co-Lender Agreement, such Co-Lender Agreement shall control; provided, however, that in no event shall the Master Servicer or the Special Servicer take any action or omit to take any action in accordance with the terms of any Co-Lender Agreement that would cause such servicer to violate the Servicing Standard, applicable law, the Grantor Trust Provisions or the REMIC Provisions. Without limiting the foregoing, and subject to Section 3.21, (i) the Master Servicer shall service and administer all Performing Serviced Loans that are not Specially Serviced Loans, and (ii) the Special Servicer shall service and administer (x) each Specially Serviced Loan (other than a Corrected and REO Property and shall render such services with respect to all Serviced Loan) Loans and REO Properties as to which a Servicing Transfer Event has occurred and is continuing, and (y) each REO Propertyare specifically provided for herein; provided, however, provided that the Master Servicer shall continue to collect information receive payments, make all calculations, and prepare prepare, or cause to be prepared, all reports to the Trustee and the Certificate Administrator required hereunder with respect to any the Specially Serviced Loans Loans, except for the reports specified herein as prepared by the Special Servicer, as if no Servicing Transfer Event had occurred and with respect to the REO Properties (and the any related REO Loans), as if no REO Acquisition had occurred, and further to render such incidental services with respect to any such Specially Serviced Loans and REO Properties as are specifically provided for herein; and provided, provided further, however, that the Master Servicer shall not be liable for its failure to comply with such duties insofar as such failure results from a failure by the Special Servicer shall render such incidental services with respect to Performing Serviced Loans as are specifically provided for herein. The provide sufficient information to the Master Servicer shall not, on behalf to comply with such duties or failure by the Special Servicer to otherwise comply with its obligations hereunder. All references herein to the respective duties of the TrustMaster Servicer and the Special Servicer, obtain title and to a Mortgaged Propertythe areas in which they may exercise discretion, shall be subject to Section 3.21.

Administration of the Serviced Loans. (a) Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and any REO Properties 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 and, in the case of a Serviced Whole Loan, on behalf of the related Companion Loan Holder, as a collective whole (and, in the case of a Serviced Whole Loan that is an A/B Whole Loan, taking into account the subordination of the related A/B Companion Loan), ) in accordance with any and all applicable laws, the terms of this Agreement, the terms of the respective Serviced Loans and, in the case of a Serviced Whole Loan, the related Intercreditor Agreement, and, to the extent consistent with the foregoing, in accordance with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.21, (i) the Master Servicer shall service and administer all Performing Serviced Loans, and (ii) the Special Servicer shall service and administer (x) each Serviced Loan (other than a Corrected Serviced Loan) as to which a Servicing Transfer Event has occurred and is continuing, and (y) each REO Property; provided, however, the Master Servicer shall continue to collect information and prepare all reports to the Trustee and the Certificate Administrator required hereunder with respect to any Specially Serviced Loans and REO Properties (and 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, the Special Servicer shall render such incidental services with respect to Performing Serviced Loans as are specifically provided for herein. The Master Servicer shall not, on behalf of the Trust, obtain title to a Mortgaged Property.

Administration of the Serviced Loans. (a) Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and any REO Properties 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 and, in the case of a Serviced Whole Loan, on behalf of the related Companion Loan Holder, Holder(s) (as a collective whole (and, in the case of a Serviced Whole Loan that is an A/B Whole Loan, taking into account the subordination of the related Companion Loanany Subordinate Interest(s), ) in accordance with any and all applicable laws, the terms of this Agreement, the terms of the respective Serviced Loans and, and in the case of a Serviced Whole Loan, the related Intercreditor Agreement, and, to the extent consistent with the foregoing, in accordance with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.21, (i) the Master Servicer shall service and administer all Performing Serviced Loans, and (ii) the Special Servicer shall service and administer (x) each Serviced Loan (other than a Corrected Serviced Loan) as to which a Servicing Transfer Event has occurred and is continuing, and (y) each REO Property; provided, however, that the Master Servicer shall continue to collect information and prepare all reports to the Trustee and the Certificate Administrator required hereunder with respect to any Specially Serviced Loans and REO Properties (and the related REO Serviced 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. The Master Servicer shall not, on behalf of the Trust, obtain title to a Mortgaged Property.

Administration of the Serviced Loans. (a) Each of the Master Servicer and the Special Servicer shall service and administer the Serviced Loans and any REO Properties 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 and, in the case of a Serviced Whole Loan, on behalf of the related Companion Loan Holder, as a collective whole (and, in the case of a Serviced Whole Loan that is an A/B Whole Loan, taking into account the subordination of the related Companion Loan), in accordance with any and all applicable laws, the terms of this Agreement, the terms of the respective Serviced Loans and, in the case of a Serviced Whole Loan, the related Intercreditor Agreement, and, to the extent consistent with the foregoing, in accordance with the Servicing Standard. Without limiting the foregoing, and subject to Section 3.21, (i) the Master Servicer shall service and administer all Performing Serviced Loans, and (ii) the Special Servicer shall service and administer (x) each Serviced Loan (other than a Corrected Serviced Loan) as to which a Servicing Transfer Event has occurred and is continuing, and (y) each REO Property; provided, however, the Master Servicer shall continue to collect information and prepare all reports to the Trustee and the Certificate Administrator required hereunder with respect to any Specially Serviced Loans and REO Properties (and 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, the Special Servicer shall render such incidental services with respect to Performing Serviced Loans as are specifically provided for herein. The Master Servicer shall not, on behalf of the Trust, obtain title to a Mortgaged Property.