Common use of and B Clause in Contracts

and B. The Sub-Servicer shall promptly (but, in the case of inspections, in no event later than thirty (30) days after completion of the related inspection report or, in the case of operating statements, rent rolls, budgets and financial statements, at least five (5) Business Days before Master Servicer must deliver or make available under the Pooling and Servicing Agreement) forward to the Master Servicer a copy of all inspection reports prepared by or on behalf of the Sub-Servicer and electronically deliver a copy of all operating statements, rent rolls, budgets and financial statements collected by the Sub-Servicer. If any inspection report identifies a “life safety” or other material deferred maintenance item existing with respect to the related Mortgaged Property, the Sub-Servicer (x) shall promptly send to the related Mortgagor (with a copy to the Master Servicer by email to xxxxxx@xxxxxxxxxx.xxx) a letter identifying such deferred maintenance item and instructing the related Mortgagor to correct such deferred maintenance item and (y) shall follow up with the related Mortgagor in writing (with a copy to the Master Servicer by email to xxxxxx@xxxxxxxxxx.xxx) and at such frequency as is in accordance with the Servicing Standard to confirm that such deferred maintenance item is being corrected. The Sub-Servicer shall electronically deliver to the Master Servicer in Microsoft Excel format promptly upon completion, and in any event, at least five (5) Business Days before Master Servicer must deliver or make available such reports, statements and files under the Pooling and Servicing Agreement, each CREFC® NOI Adjustment Worksheet and CREFC® Operating Statement Analysis Report.

Appears in 3 contracts

Samples: Sub Servicing Agreement (UBS Commercial Mortgage Trust 2018-C10), Sub Servicing Agreement (UBS Commercial Mortgage Trust 2017-C7), Sub Servicing Agreement (UBS Commercial Mortgage Trust 2017-C6)

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and B. The Sub-Servicer shall promptly (but, in the case of inspections, but in no event later than the earlier of (i) thirty (30) days after completion and receipt of the related inspection report or, in the case and (ii) December 15th of operating statements, rent rolls, budgets and financial statements, at least five (5) Business Days before Master Servicer must deliver or make available under the Pooling and Servicing Agreementeach year) forward to the Master Servicer a copy of all such inspection reports prepared by or on behalf of the Sub-Servicer. The Sub-Servicer shall promptly (but at least five (5) Business Days before the Master Servicer must deliver or make available such items under the Pooling and Servicing Agreement) deliver electronically deliver a copy of to the Master Servicer all operating statements, rent rolls, budgets and financial statements collected by the Sub-Servicer. If any inspection report identifies a “life safety” or other material deferred maintenance item existing with respect to the related Mortgaged Property, the Sub-Servicer shall (x) shall promptly send to the related Mortgagor (with a copy to the Master Servicer by email to xxxxxx@xxxxxxxxxx.xxx) a letter identifying such deferred maintenance item and instructing the related Mortgagor to correct such deferred maintenance item and (y) shall follow up with the related Mortgagor in writing (with a copy to notify the Master Servicer (by email to xxxxxx@xxxxxxxxxx.xxx) and at upon resolution of such frequency as is in accordance with the Servicing Standard to confirm that such “life safety” or deferred maintenance item is being correcteditem. The Sub-Servicer may engage a third party at its cost to perform property inspections and prepare property inspection reports without first obtaining the consent of the Master Servicer; provided, that the Sub-Servicer shall remain obligated and primarily liable to the Master Servicer for satisfactory completion of the inspections and reports as required by this Agreement. The Sub-Servicer shall electronically deliver to the Master Servicer in Microsoft Excel format promptly upon completion, and in any event, at least five (5) Business Days before Master Servicer must deliver or make available such reports, statements and files under the Pooling and Servicing Agreement, each CREFC® NOI Adjustment Worksheet and CREFC® Operating Statement Analysis Report. With respect to any Mortgage Loan, the Sub-Servicer shall inform each ground lessor that any notices of default under the related Ground Lease should thereafter be forwarded to the Master Servicer and the Sub-Servicer.

Appears in 2 contracts

Samples: Sub Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-P3), Sub Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-P2)

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and B. The Sub-Servicer shall promptly (but, in the case of inspections, but in no event later than the earlier of (i) thirty (30) days after completion and receipt of the related inspection report or, in the case and (ii) December 15th of operating statements, rent rolls, budgets and financial statements, at least five (5) Business Days before Master Servicer must deliver or make available under the Pooling and Servicing Agreementeach year) forward to the Master Servicer a copy of all such inspection reports prepared by or on behalf of the Sub-Servicer. The Sub-Servicer shall promptly (but at least five (5) Business Days before the Master Servicer must deliver or make available such items under the Pooling and Servicing Agreement) deliver electronically deliver a copy of to the Master Servicer all operating statements, rent rolls, budgets and financial statements collected by the Sub-Servicer. If any inspection report identifies a “life safety” or other material deferred maintenance item existing with respect to the related Mortgaged Property, the Sub-Servicer shall (x) shall promptly send to the related Mortgagor (with a copy to the Master Servicer by email to xxxxxx@xxxxxxxxxx.xxx) a letter identifying such deferred maintenance item and instructing the related Mortgagor to correct such deferred maintenance item and (y) shall follow up with notify the related Mortgagor in writing Master Servicer (with by email to cmxxxx@xxxxxxxxxx.xxx) upon resolution of such “life safety” or deferred maintenance item. The Sub-Servicer may engage a copy third party at its cost to perform property inspections and prepare property inspection reports without first obtaining the consent of the Master Servicer; provided, that the Sub-Servicer shall remain obligated and primarily liable to the Master Servicer for satisfactory completion of the inspections and reports as required by email to xxxxxx@xxxxxxxxxx.xxx) and at such frequency as is in accordance with the Servicing Standard to confirm that such deferred maintenance item is being correctedthis Agreement. The Sub-Servicer shall electronically deliver to the Master Servicer in Microsoft Excel format promptly upon completion, and in any event, at least five (5) Business Days before Master Servicer must deliver or make available such reports, statements and files under the Pooling and Servicing Agreement, each CREFC® NOI Adjustment Worksheet and CREFC® Operating Statement Analysis Report. With respect to any Mortgage Loan, the Sub-Servicer shall inform each ground lessor that any notices of default under the related Ground Lease should thereafter be forwarded to the Master Servicer and the Sub-Servicer.

Appears in 1 contract

Samples: Sub Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-P2)

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