Common use of Administration of the Serviced Mortgage Loans Clause in Contracts

Administration of the Serviced Mortgage Loans. (a) Each of the Master Servicers and the Special Servicer shall service and administer the Serviced Mortgage Loans that each 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 any Serviced Loan Combination, for the benefit of the Certificateholders and the related Serviced Non-Trust Mortgage Loan Noteholder(s), taking into consideration the subordination of any related Serviced Subordinate Non-Trust Mortgage Loan(s) as set forth in the related Co-Lender Agreement), in accordance with any and all applicable laws, the terms of this Agreement, the terms of the respective Serviced Mortgage Loans and any and all intercreditor, co-lender and similar agreements and, to the extent consistent with the foregoing, in accordance with the Servicing Standard. With respect to each Serviced 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 a 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) Master Servicer No. 1 shall service and administer all Citigroup Trust Mortgage Loans and any related Serviced Non-Trust Mortgage Loans that are not Specially Serviced Mortgage Loans (exclusive of the CGM RRI Hotel Portfolio Trust Mortgage Loan, the Lincoln Square Trust Mortgage Loan and the Seattle Space Needle Trust Mortgage Loan), and (ii) Master Servicer No. 2 shall service and administer all GSMC Trust Mortgage Loans (exclusive of the One Liberty Plaza Trust Mortgage Loan, the Scottsdale Fashion Square Trust Mortgage Loan and the Xxxx Terminal Trust Mortgage Loan) and any related Serviced Non-Trust Mortgage Loans that are not Specially Serviced Mortgage Loans; and (iii) the Special Servicer shall service and administer each Specially Serviced Mortgage Loan and Administered REO Property and shall render such services with respect to all Serviced Mortgage Loans and Administered REO Properties as are specifically provided for herein; provided that Master Servicer No. 1 shall continue to receive payments, make all calculations, and prepare, or cause to be prepared, all reports required hereunder with respect to those Citigroup Trust Mortgage Loans (exclusive of the CGM RRI Hotel Portfolio Trust Mortgage Loan, the Lincoln Square Trust Mortgage Loan and the Seattle Space Needle Trust Mortgage Loan) and any related Serviced Non-Trust Mortgage Loans that are Specially Serviced Mortgage Loans, except for the reports specified

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2008-C7)

AutoNDA by SimpleDocs

Administration of the Serviced Mortgage Loans. (a) Each of the Master Servicers and the Special Servicer shall service and administer the Serviced Mortgage Loans that each 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 any Serviced Loan Combination, for the benefit of the Certificateholders and the related Serviced Non-Trust Mortgage Loan Noteholder(s), taking into consideration the subordination of any the related Serviced Subordinate B-Note Non-Trust Mortgage Loan(s) as set forth in the related Co-Lender Agreement), in accordance with any and all applicable laws, the terms of this Agreement, the terms of the respective Serviced Mortgage Loans and any and all intercreditor, co-lender and similar agreements and, to the extent consistent with the foregoing, in accordance with the Servicing Standard. With respect to each Serviced 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 a 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) Master Servicer No. 1 shall service and administer all LaSalle Trust Mortgage Loans (exclusive of the Ala Moana Portfolio Trust Mortgage Loan and the IAC Industrial Portfolio Trust Mortgage Loans) and any related Serviced Non-Trust Mortgage Loans that are not Specially Serviced Mortgage Loans, (ii) Master Servicer No. 2 shall service and administer all PNC Trust Mortgage Loans, all Citigroup Trust Mortgage Loans (exclusive of the AmeriCold Portfolio Trust Mortgage Loan), the IAC Industrial Portfolio Trust Mortgage Loans and any related Serviced Non-Trust Mortgage Loans that are not Specially Serviced Mortgage Loans Loans; (exclusive of the CGM RRI Hotel Portfolio Trust Mortgage Loan, the Lincoln Square Trust Mortgage Loan and the Seattle Space Needle Trust Mortgage Loan), and (iiiii) Master Servicer No. 2 3 shall service and administer all GSMC Capmark Trust Mortgage Loans (exclusive of the One Liberty Plaza Trust Mortgage Loan, the Scottsdale Fashion Square Trust Mortgage Loan and the Xxxx Terminal Trust Mortgage Loan) and any related Serviced Non-Trust Mortgage Loans that are not Specially Serviced Mortgage Loans; , and (iiiiv) the Special Servicer shall service and administer each Specially Serviced Mortgage Loan and Administered REO Property and shall render such services with respect to all Serviced Mortgage Loans and Administered REO Properties as are specifically provided for herein; provided that Master Servicer No. 1 shall continue to receive payments, make all calculations, and prepare, or cause to be prepared, all reports required hereunder with respect to those Citigroup LaSalle Trust Mortgage Loans (exclusive of the CGM RRI Hotel Ala Moana Portfolio Trust Mortgage Loan, the Lincoln Square Trust Mortgage Loan and the Seattle Space Needle IAC Industrial Portfolio Trust Mortgage LoanLoans) and any related Serviced Non-Trust Mortgage Loans that are Specially Serviced Mortgage 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 related Administered REO Properties (and any related REO Mortgage Loans), as if no REO Acquisition had occurred, and to render such incidental services with respect to such Specially Serviced Mortgage Loans and Administered REO Properties (and with respect to the Ala Moana Portfolio Trust Mortgage Loan and any successor REO Trust Mortgage Loan with respect thereto) as are specifically provided for herein; and provided, further, that Master Servicer No. 2 shall continue to receive payments, make all calculations, and prepare, or cause to be prepared, all reports required hereunder with respect to those PNC Trust Mortgage Loans, Citigroup Trust Mortgage Loans (exclusive of the AmeriCold Portfolio Trust Mortgage Loan), IAC Industrial Portfolio Trust Mortgage Loans and any related Serviced Non-Trust Mortgage Loans that are Specially Serviced Mortgage Loans, except for the reports specified

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2007-C6)

Administration of the Serviced Mortgage Loans. (a) Each of the Master Servicers and the Special Servicer shall service and administer the Serviced Mortgage Loans that each 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 any Serviced A/B Loan Combination, for the benefit of the Certificateholders and the related Serviced NonB-Trust Mortgage Loan Noteholder(s), taking into consideration the subordination of any the related Serviced Subordinate B-Note Non-Trust Mortgage Loan(s) as set forth in the related Co-Lender Agreement), in accordance with any and all applicable laws, the terms of this Agreement, the terms of the respective Serviced Mortgage Loans and any and all intercreditor, co-lender and similar agreements and, to the extent consistent with the foregoing, in accordance with the Servicing Standard. With respect to each Serviced A/B 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 a 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) Master Servicer No. 1 shall service and administer all Citigroup Trust Mortgage Loans and any related Serviced Non-Trust Mortgage Loans that are not Specially Serviced Mortgage Loans (exclusive of the CGM RRI Hotel Portfolio Trust Mortgage LoanLoans, the Lincoln Square Trust Mortgage Loan and the Seattle Space Needle Trust Mortgage Loan), and (ii) Master Servicer No. 2 shall service and administer all GSMC PNC Trust Mortgage Loans, the LaSalle Trust Mortgage Loans (exclusive of other than the One Liberty Plaza Trust Mortgage Loan, the Scottsdale Fashion Square Trust Mortgage Loan and the Xxxx Terminal Ala Moana Portfolio Trust Mortgage Loan) and any related Serviced B-Note Non-Trust Mortgage Loans that are not Specially Serviced Mortgage Loans; Loans and (iii) the Special Servicer shall service and administer each Specially Serviced Mortgage Loan and Administered REO Property and shall render such services with respect to all Serviced Mortgage Loans and Administered REO Properties as are specifically provided for herein; provided that Master Servicer No. 1 shall continue to receive payments, make all calculations, and prepare, or cause to be prepared, all reports required hereunder with respect to those the Citigroup Trust Mortgage Loans that are Specially Serviced Mortgage 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 related Administered REO Properties (exclusive of and any related REO Mortgage Loans), as if no REO Acquisition had occurred, and to render such incidental services with respect to such Specially Serviced Mortgage Loans and Administered REO Properties (and with respect to the CGM RRI Hotel Ala Moana Portfolio Trust Mortgage LoanLoans and any successor REO Trust Mortgage Loans with respect thereto) as are specifically provided for herein; and provided, further, that Master Servicer No. 2 shall continue to receive payments, make all calculations, and prepare, or cause to be prepared, all reports required hereunder with respect to the PNC Trust Mortgage Loans, the Lincoln Square LaSalle Trust Mortgage Loan and Loans (other than the Seattle Space Needle Ala Moana Portfolio Trust Mortgage LoanLoans) and any related Serviced B-Note Non-Trust Mortgage Loans that are Specially Serviced Mortgage Loans, except for the reports specifiedspecified herein as prepared by the Special Servicer, as if no Servicing Transfer Event had occurred and with respect to the related Administered REO Properties (and any related REO Mortgage Loans), as if no REO Acquisition had occurred, and to render such incidental services with respect to such Specially Serviced Mortgage Loans and Administered REO Properties as are specifically provided for herein; and provided, further, that no Master Servicer shall 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 subject 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 Master 104

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2006-C5)

AutoNDA by SimpleDocs

Administration of the Serviced Mortgage Loans. (a) Each of the Master Servicers and the Special Servicer shall service and administer the Serviced Mortgage Loans that each 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 any Serviced Loan Combination, for the benefit of the Certificateholders and the related Serviced Non-Trust Mortgage Loan Noteholder(s), taking into consideration the subordination of any the related Serviced Subordinate B-Note Non-Trust Mortgage Loan(s) as set forth in the related Co-Lender Agreement), in accordance with any and all applicable laws, the terms of this Agreement, the terms of the respective Serviced Mortgage Loans and any and all intercreditor, co-lender and similar agreements and, to the extent consistent with the foregoing, in accordance with the Servicing Standard. With respect to each Serviced 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 a 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) Master Servicer No. 1 shall service and administer all Citigroup GACC Trust Mortgage Loans and any related Serviced Non-Trust Mortgage Loans that are not Specially Serviced Mortgage Loans (exclusive of other than the CGM RRI Hotel DB AmeriCold Portfolio Trust Mortgage Loan, the Lincoln Square Trust Mortgage Loan and the Seattle Space Needle Mall of America Portfolio Trust Mortgage Loan), and (ii) Master Servicer No. 2 shall service and administer all GSMC the ACS Trust Mortgage Loans (exclusive of other than the One Liberty Plaza Trust Mortgage Loan, the Scottsdale Fashion Square Trust Mortgage Loan and the Xxxx Terminal JQH Hotel Portfolio B-Note Trust Mortgage Loan) and any related Serviced Non-Trust Mortgage Loans that are not Specially Serviced Mortgage Loans; , (ii) Master Servicer No. 2 shall service and administer all PNC Trust Mortgage Loans, all Citigroup Trust Mortgage Loans and any related Serviced Non-Trust Mortgage Loans that are not Specially Serviced Mortgage Loans, (iii) Master Servicer No. 3 shall service and administer all RBC Trust Mortgage Loans, all LaSalle Trust Mortgage Loans (other than the Ala Moana Portfolio Trust Mortgage Loan) and any related Serviced Non-Trust Mortgage Loans that are not Specially Serviced Mortgage Loans, and (iiiiv) the Special Servicer shall service and administer each Specially Serviced Mortgage Loan and Administered REO Property and shall render such services with respect to all Serviced Mortgage Loans and Administered REO Properties as are specifically provided for herein; provided that Master Servicer No. 1 shall continue to receive payments, make all calculations, and prepare, or cause to be prepared, all reports required hereunder with respect to those Citigroup the GACC Trust Mortgage Loans (exclusive of other than the CGM RRI Hotel DB AmeriCold Portfolio Trust Mortgage Loan, the Lincoln Square Trust Mortgage Loan and the Seattle Space Needle Mall of America Portfolio Trust Mortgage Loan), all ACS Trust Mortgage Loans (other than the JQH Hotel Portfolio B-Note Trust Mortgage Loan) and any related Serviced Non-Trust Mortgage Loans that are Specially Serviced Mortgage Loans, except for the reports specifiedspecified herein as prepared by the Special Servicer, as if no Servicing Transfer Event had occurred and with respect to the related Administered REO Properties (and any related REO Mortgage Loans), as if no REO Acquisition had occurred, and to render such incidental services with respect to such Specially Serviced Mortgage Loans and Administered REO Properties (and with respect to the Outside Serviced Trust Mortgage Loans and any successor REO Trust Mortgage Loans with respect thereto) as are specifically provided for herein; and provided, further, that Master Servicer No. 2 shall continue to receive payments, make all calculations, and prepare, or cause to be prepared, all reports required hereunder with respect to the PNC Trust Mortgage Loans, the Citigroup Trust Mortgage Loans and any related Serviced Non-Trust Mortgage Loans that

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CD 2007-Cd4 Commercial Mortgage Trust)

Time is Money Join Law Insider Premium to draft better contracts faster.