Certain Matters Regarding Significant Obligors. (a) For purposes of this Agreement: (i) the borrower under Mortgage Loan No. 1 identified as InterContinental Hotel Chicago on the Mortgage Loan Schedule and (ii) SunTrust Bank, in its capacity as tenant under the leases related to the SunTrust Bank Portfolio Loans is a significant obligor (each, a “Significant Obligor”), and, accordingly, Item 6 of Form 10-D and Item 1112(b) of Form 10-K, provide for the inclusion of updated net operating income of the related borrower or, with respect to SunTrust Bank, updated information under Item 301 of Regulation S-K, in each case as required by Item 1112(b) of Regulation AB, on each Form 10-D to be filed by the Trust with respect to a Distribution Date immediately following the date in which each financial statement of the applicable Significant Obligor is required to be delivered to the lender under the related Mortgage Loan documents (which, for the avoidance of doubt, is ninety (90) days following the end of each calendar year, and forty-five (45) days following the end of each calendar quarter, as applicable, as set forth in the related loan agreement), or on each Form 10-K filed by the Trust, as applicable. With respect to each Significant Obligor other than SunTrust Bank, upon receipt of the updated net operating income information, the Master Servicer shall update the following columns of the CREFC Loan Periodic Update File for the applicable quarterly or annual Distribution Date: BB, BP, BT and BU (corresponding fields 54, 68, 72 and 73). (b) With respect to the Significant Obligor other than SunTrust Bank, in the event that the Master Servicer does not receive the financial information referred to in clause (a) above to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, of such significant obligor from the related borrower within two (2) Business Days after the date such financial information is required to be delivered under the related Mortgage Loan documents, the Master Servicer shall notify the Depositor that it has not received such financial information. The Master Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the Depositor under the Exchange Act, but in no event requiring the Master Servicer to initiate litigation) to continue to attempt to obtain such financial information from the related borrower. The Master Servicer shall retain written evidence of each instance in which it attempts to contact the Borrower to obtain the required financial information and is unsuccessful and, within five Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by the Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Paying Agent and the Depositor. This Officer’s Certificate should be addressed to the Paying Agent as follows: Wxxxx Fargo Bank, National Association, 9000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000-0000, Attention: Corporate Trust (CMBS) J.X. Xxxxxx Chase Commercial Mortgage Securities Trust Series 2011-C5 with a copy by email to cxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx or faxed to 400-000-0000, Attn: CTS SEC Notifications, and to the Depositor as required by Section 11.14. (c) With respect to the information required by Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, for SunTrust Bank, in its capacity as a “significant obligor” under Regulation AB, the Depositor directs the Master Servicer to use reasonable efforts to (A) obtain from the FDIC’s Internet website located at wxx0.xxxx.xxx/xxxxx/xxxx_xxxxxxxx.xxx (or a successor Internet website for which the Depositor shall provide the Master Servicer reasonable prior written notice that the FDIC has a successor Internet website where such statements are now posted) a “statement of assets and liabilities” and a “statement of income and expenses” for the most recent prior calendar quarter in the case of Item 6 of Form 10-D or the most recent calendar year in the case of Item 1112(b) of Form 10-K, as applicable, for purposes of complying with such Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, or, (B) if such statements are not available on the FDIC’s Internet website, shall (1) promptly, but in no event later than the next Business Day, deliver written notice to the Depositor that the statements are unavailable and (2) promptly deliver a written request to the borrowers under the SunTrust Bank Portfolio Loans to provide the financial information referred to in clause (a) above to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be. In the event the FDIC no longer posts such statements on the FDIC's Internet website located at wxx0.xxxx.xxx/xxxxx/xxxx_xxxxxxxx.xxx (or a successor Internet website), then the Master Servicer shall only contact the borrowers under the SunTrust Bank Portfolio Loans to provide the financial information referred to in clause (a) above. In the case of clause (B) above, the Master Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the Depositor under the Exchange Act, but in no event requiring the Master Servicer to initiate litigation) to continue to attempt to obtain the financial information referred to in clause (a) above from the related borrower until such statements or financial information are provided. The Master Servicer shall retain written evidence of each instance in which it attempts to contact the related borrower to obtain the required statements and is unsuccessful and, within five (5) Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by the Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain these statements or information to the Paying Agent and the Depositor. This Officer’s Certificate should be addressed to the Paying Agent as follows: Wxxxx Fargo Bank, National Association, 9000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000-0000, Attention: Corporate Trust (CMBS) J.X. Xxxxxx Chase Commercial Mortgage Securities Trust Series 2011-C5 with a copy by email to cxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx or faxed to 400-000-0000, Attn: CTS SEC Notifications, and to the Depositor as required by Section 11.14. The Master Servicer shall have no obligation or duty to verify, confirm, analyze or otherwise determine whether the information being delivered under this Section 11.16(c) is accurate, complete or otherwise is or is not anything other than what it purports to be. (d) If the Paying Agent has not timely received financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, it shall include the following statement with respect to Item 6 on the related Form 10-D or Item 1112(b) on the related Form 10-K: “The information required for this [Item 6] [Item 1112(b)] rests with a person or entity which is not affiliated with the registrant. Oral and written requests have been made on behalf of the registrant, to the extent required under the related pooling and servicing agreement, to obtain the information required for this [Item 6] [Item 1112 (b)], and the registrant has been unable to obtain such information to include on this [Form 10-D] [Form 10-K] by the related filing deadline. The information is therefore being omitted herefrom in reliance on Rule 12b-21 under the Securities Exchange Act of 1934, as amended” or such other statement as shall be required by the Depositor. (e) Notwithstanding anything contained in this Section 11.16, in the event that the Paying Agent files a Form 15 Suspension Notification pursuant to Section 11.08 of this Agreement and so long as the Trust is not subject to the reporting requirements of the Exchange Act, the Master Servicer shall not be required to fulfill its obligations under this Section 11.16. (f) For the avoidance of doubt, neither the Master Servicer nor the Special Servicer shall be subject to an Event of Default pursuant to clause (iii) of the definition thereof prior to the expiration of the grace period applicable to such party’s obligations under Article XI as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, during any grace period provided for in this Article XI; provided, that if any such party fails to comply with the delivery requirements of this Article XI by the expiration of any applicable grace period such failure shall constitute an Event of Default. Neither the Master Servicer nor the Special Servicer shall be subject to an Event of Default pursuant to clause (iii) of the definition thereof prior to the expiration of the grace period applicable to such party’s obligations under Article XI as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, for failing to deliver any item required under this Article XI by the time required hereunder with respect to any reporting period for which the Trust is not required to file Exchange Act reports.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2011-C5), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2011-C5)
Certain Matters Regarding Significant Obligors. (a) For purposes of this Agreement: (i) the borrower under Mortgage Loan No. 1 identified as InterContinental Hotel Chicago the Americold Cold Storage Portfolio Mortgage Loan on the Mortgage Loan Schedule and (ii) SunTrust Bank, in its capacity as tenant under the leases related to the SunTrust Bank Portfolio Loans is a significant obligor (each, a “Significant Obligor”), and, accordingly, Item 6 of Form 10-D and Item 1112(b) of Form 10-K, provide for the inclusion of updated net operating income of the related borrower or, with respect to SunTrust Bank, updated information under Item 301 of Regulation S-K, in each case as required by Item 1112(b) of Regulation AB, on each Form 10-D to be filed by the Trust with respect to a Distribution Date immediately following the date in which each financial statement of the applicable Significant Obligor is required to be delivered to the lender under the related Mortgage Loan documents (which, for the avoidance of doubt, is ninety seventy-five (9075) days following the end of each calendar year, and forty-five (45) days following the end of each calendar quarter, as applicable, quarter as set forth in the related loan agreement), or on each Form 10-K filed by the Trust, as applicable. With respect to each the Significant Obligor other than SunTrust BankObligor, upon after receipt of the updated net operating income information, the Master Servicer shall update the following columns of the CREFC CREFC® Loan Periodic Update File for (i) the next applicable quarterly Distribution Date if the Master Servicer receives such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date or annual (ii) the second succeeding Distribution Date if the Master Servicer does not receive such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date: BB, BP, BT and BU (corresponding fields 54, 68, 72 and 73).
(b) With respect to the Significant Obligor other than SunTrust BankObligor, in the event that the Master Servicer does not receive shall request that the related Non-Serviced Master Servicer cooperate in obtaining the financial information referred to in clause (a) above from the related borrower to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, of and in the event that the Master Servicer does not receive such significant obligor information from the related borrower (or from the Non-Serviced Master Servicer with respect to the Significant Obligor) within two five (25) Business Days after the date such financial information is required to be delivered under the related Mortgage Loan documents, the Master Servicer shall notify the Depositor that it has not received such financial information. The Master Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the Depositor under the Exchange Act, but in no event requiring the Master Servicer to initiate litigation) to continue to attempt to cause the related Non-Serviced Master Servicer to obtain such financial information from the related borrower. The Master Servicer shall retain written evidence of each instance in which it attempts to contact the Borrower or the related Non-Serviced Master Servicer to obtain the required financial information and is unsuccessful and, within five Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by the Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Paying Agent and the Depositor. This Officer’s Certificate should be addressed to the Paying Agent as follows: Wxxxx Fargo Bank, National Association, 9000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000-0000, Attention: Corporate Trust (CMBS) J.X. Xxxxxx Chase Commercial Mortgage Securities Trust Series 2011-C5 with a copy by email to cxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx or faxed to 400-000-0000, Attn: CTS SEC Notifications, and to the Depositor as required by Section 11.14.
(c) With respect to the information required by Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, for SunTrust Bank, in its capacity as a “significant obligor” under Regulation AB, the Depositor directs the Master Servicer to use reasonable efforts to (A) obtain from the FDIC’s Internet website located at wxx0.xxxx.xxx/xxxxx/xxxx_xxxxxxxx.xxx (or a successor Internet website for which the Depositor shall provide the Master Servicer reasonable prior written notice that the FDIC has a successor Internet website where such statements are now posted) a “statement of assets and liabilities” and a “statement of income and expenses” for the most recent prior calendar quarter in the case of Item 6 of Form 10-D or the most recent calendar year in the case of Item 1112(b) of Form 10-K, as applicable, for purposes of complying with such Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, or, (B) if such statements are not available on the FDIC’s Internet website, shall (1) promptly, but in no event later than the next Business Day, deliver written notice to the Depositor that the statements are unavailable and (2) promptly deliver a written request to the borrowers under the SunTrust Bank Portfolio Loans to provide the financial information referred to in clause (a) above to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be. In the event the FDIC no longer posts such statements on the FDIC's Internet website located at wxx0.xxxx.xxx/xxxxx/xxxx_xxxxxxxx.xxx (or a successor Internet website), then the Master Servicer shall only contact the borrowers under the SunTrust Bank Portfolio Loans to provide the financial information referred to in clause (a) above. In the case of clause (B) above, the Master Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the Depositor under the Exchange Act, but in no event requiring the Master Servicer to initiate litigation) to continue to attempt to obtain the financial information referred to in clause (a) above from the related borrower until such statements or financial information are provided. The Master Servicer shall retain written evidence of each instance in which it attempts to contact the related borrower to obtain the required statements and is unsuccessful and, within five (5) Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by the Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain these statements or this information to the Paying Agent Certificate Administrator and the Depositor. This Officer’s Certificate should be addressed to the Paying Agent Certificate Administrator as follows: Wxxxx Xxxxx Fargo Bank, National Association, 9000 0000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000-0000, Attention: Corporate Trust (CMBS) J.X. X.X. Xxxxxx Chase Commercial Mortgage Securities Trust Series 20112013-C5 C13 with a copy by email to cxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx or faxed by fax to 400000-000-0000, AttnAttention: CTS SEC Notifications, and to the Depositor as required by Section 11.14. The In any event, and in addition to the foregoing requirements of this Section 11.16(b), if the Master Servicer does not receive the financial information referred to in clause (a) above to comply with (i) Item 6 of Form 10-D within 20 days after the end of each calendar quarter, the Master Servicer shall have request the related Non-Serviced Master Servicer to request the delivery of such information from the related borrower in reliance on Section 11.2.6 of the related loan agreement and that such delivery be made by no obligation later than 30 days from the end of such calendar quarter, or duty (ii) Item 1112(b) of Form 10-K from the related borrower by March 10th of any year in which such information will be required to verifybe included and filed on Form 10-K, confirm, analyze or otherwise determine whether the Master Servicer shall request the related Non-Serviced Master Servicer to request the delivery of such information being delivered under this Section 11.16(c) is accurate, complete or otherwise is or is not anything other from the related borrower and that such delivery be made by no later than what it purports to beMarch 20th of such year.
(dc) If the Paying Agent Certificate Administrator has not timely received financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, it shall include the following statement with respect to Item 6 on the related Form 10-D or Item 1112(b) on the related Form 10-K: “The information required for this [Item 6] [Item 1112(b)] rests with a person or entity which is not affiliated with the registrant. Oral and written requests have been made on behalf of the registrant, to the extent required under the related pooling and servicing agreement, to obtain the information required for this [Item 6] [Item 1112 (b)], and the registrant has been unable to obtain such information to include on this [Form 10-D] [Form 10-K] by the related filing deadline. The information is therefore being omitted herefrom in reliance on Rule 12b-21 under the Securities Exchange Act of 1934, as amended” or such other statement as shall be required by the Depositor.
(e) Notwithstanding anything contained in this Section 11.16, in the event that the Paying Agent files a Form 15 Suspension Notification pursuant to Section 11.08 of this Agreement and so long as the Trust is not subject to the reporting requirements of the Exchange Act, the Master Servicer shall not be required to fulfill its obligations under this Section 11.16.
(f) For the avoidance of doubt, neither the Master Servicer nor the Special Servicer shall be subject to an Event of Default pursuant to clause (iii) of the definition thereof prior to the expiration of the grace period applicable to such party’s obligations under Article XI as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, during any grace period provided for in this Article XI; provided, that if any such party fails to comply with the delivery requirements of this Article XI by the expiration of any applicable grace period such failure shall constitute an Event of Default. Neither the Master Servicer nor the Special Servicer shall be subject to an Event of Default pursuant to clause (iii) of the definition thereof prior to the expiration of the grace period applicable to such party’s obligations under Article XI as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, for failing to deliver any item required under this Article XI by the time required hereunder with respect to any reporting period for which the Trust is not required to file Exchange Act reports.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-C13), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-C13)
Certain Matters Regarding Significant Obligors. (a) For purposes of this Agreement: (i) the borrower under Mortgage Loan No. 1 identified as InterContinental Hotel Chicago Palazzo Westwood Village on the Mortgage Loan Schedule and (ii) SunTrust Bank, in its capacity as tenant under the leases related to the SunTrust Bank Portfolio Loans is a significant obligor (each, a “Significant Obligor”), and, accordingly, Item 6 of Form 10-D and Item 1112(b) of Form 10-K, provide for the inclusion of updated net operating income of the related borrower or, with respect to SunTrust Bank, updated information under Item 301 of Regulation S-K, in each case as required by Item 1112(b) of Regulation AB, on each Form 10-D to be filed by the Trust with respect to a Distribution Date immediately following the date in which each financial statement of the applicable Significant Obligor is required to be delivered to the lender under the related Mortgage Loan documents (which, for the avoidance of doubt, is ninety seventy-five (9075) days following the end of each calendar year, and forty-five twenty (4520) days following the end of each calendar quarter, as applicable, quarter as set forth in the related loan agreement), or on each Form 10-K filed by the Trust, as applicable. With respect to each the Significant Obligor other than SunTrust BankObligor, upon after receipt of the updated net operating income information, the Master Servicer shall update the following columns of the CREFC Loan Periodic Update File for (i) the next applicable quarterly Distribution Date if the Master Servicer receives such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date or annual (ii) the second succeeding Distribution Date if the Master Servicer does not receive such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date: BB, BP, BT and BU (corresponding fields 54, 68, 72 and 73).
(b) With respect to the Significant Obligor other than SunTrust BankObligor, in the event that the Master Servicer does not receive the financial information referred to in clause (a) above to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, of such significant obligor from the related borrower within two five (25) Business Days after the date such financial information is required to be delivered under the related Mortgage Loan documents, the Master Servicer shall notify the Depositor that it has not received such financial information. The Master Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the Depositor under the Exchange Act, but in no event requiring the Master Servicer to initiate litigation) to continue to attempt to obtain such financial information from the related borrower. The Master Servicer shall retain written evidence of each instance in which it attempts to contact the Borrower to obtain the required financial information and is unsuccessful and, within five (5) Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by the Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Paying Agent Certificate Administrator and the Depositor. This Officer’s Certificate should be addressed to the Paying Agent Certificate Administrator as follows: Wxxxx Fargo Bank, National Association, 9000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000-0000, Attention: Corporate Trust (CMBS) J.X. Xxxxxx Chase Cxxxx Commercial Mortgage Securities Trust Series 20112012-C5 with a copy by email to cxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx or faxed to 400-000-0000, Attn: CTS SEC Notifications, and to the Depositor as required by Section 11.14.
(c) With respect to the information required by Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, for SunTrust Bank, in its capacity as a “significant obligor” under Regulation AB, the Depositor directs the Master Servicer to use reasonable efforts to (A) obtain from the FDIC’s Internet website located at wxx0.xxxx.xxx/xxxxx/xxxx_xxxxxxxx.xxx (or a successor Internet website for which the Depositor shall provide the Master Servicer reasonable prior written notice that the FDIC has a successor Internet website where such statements are now posted) a “statement of assets and liabilities” and a “statement of income and expenses” for the most recent prior calendar quarter in the case of Item 6 of Form 10-D or the most recent calendar year in the case of Item 1112(b) of Form 10-K, as applicable, for purposes of complying with such Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, or, (B) if such statements are not available on the FDIC’s Internet website, shall (1) promptly, but in no event later than the next Business Day, deliver written notice to the Depositor that the statements are unavailable and (2) promptly deliver a written request to the borrowers under the SunTrust Bank Portfolio Loans to provide the financial information referred to in clause (a) above to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be. In the event the FDIC no longer posts such statements on the FDIC's Internet website located at wxx0.xxxx.xxx/xxxxx/xxxx_xxxxxxxx.xxx (or a successor Internet website), then the Master Servicer shall only contact the borrowers under the SunTrust Bank Portfolio Loans to provide the financial information referred to in clause (a) above. In the case of clause (B) above, the Master Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the Depositor under the Exchange Act, but in no event requiring the Master Servicer to initiate litigation) to continue to attempt to obtain the financial information referred to in clause (a) above from the related borrower until such statements or financial information are provided. The Master Servicer shall retain written evidence of each instance in which it attempts to contact the related borrower to obtain the required statements and is unsuccessful and, within five (5) Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by the Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain these statements or information to the Paying Agent and the Depositor. This Officer’s Certificate should be addressed to the Paying Agent as follows: Wxxxx Fargo Bank, National Association, 9000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000-0000, Attention: Corporate Trust (CMBS) J.X. Xxxxxx Chase Commercial Mortgage Securities Trust Series 2011-C5 CIBX with a copy by email to cxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx or faxed to 400-000-0000, Attn: CTS SEC Notifications, and to the Depositor as required by Section 11.14. The In any event, and in addition to the foregoing requirements of this Section 11.16(b), if the Master Servicer does not receive the financial information referred to in clause (a) above to comply with (i) Item 6 of Form 10-D from the related borrower within 20 days after the end of each calendar quarter, the Master Servicer shall have request the delivery of such information from the related borrower in reliance on Section 9.1.1 of the related loan agreement and that such delivery be made by no obligation later than 30 days from the end of such calendar quarter, or duty (ii) Item 1112(b) of Form 10-K from the related borrower by March 10th of any year in which such information will be required to verifybe included and filed on Form 10-K, confirm, analyze or otherwise determine whether the Master Servicer shall request the delivery of such information being delivered under this Section 11.16(c) is accurate, complete or otherwise is or is not anything other from the related borrower and that such delivery be made by no later than what it purports to beMarch 20th of such year.
(dc) If the Paying Agent Certificate Administrator has not timely received financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, it shall include the following statement with respect to Item 6 on the related Form 10-D or Item 1112(b) on the related Form 10-K: “The information required for this [Item 6] [6 Item 1112(b)] ) rests with a person or entity which is not affiliated with the registrant. Oral and written requests have been made on behalf of the registrant, to the extent required under the related pooling and servicing agreement, to obtain the information required for this [Item 6] [6 Item 1112 (b)], and the registrant has been unable to obtain such information to include on this [Form 10-D] [Form 10-K] by the related filing deadline. The information is therefore being omitted herefrom in reliance on Rule 12b-21 under the Securities Exchange Act of 1934, as amended” or such other statement as shall be required by the Depositor.
(ed) Notwithstanding anything contained in this Section 11.16, in the event that the Paying Agent Certificate Administrator files a Form 15 Suspension Notification pursuant to Section 11.08 of this Agreement and so long as the Trust is not subject to the reporting requirements of the Exchange Act, the Master Servicer shall not be required to fulfill its obligations under this Section 11.16.
(fe) For the avoidance of doubt, neither the Master Servicer nor the Special Servicer shall be subject to an a Servicer Termination Event of Default pursuant to clause (iii) of the definition thereof prior to the expiration of the grace period applicable to such party’s obligations under Article XI as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, during any grace period provided for in this Article XI; provided, that if any such party fails to comply with the delivery requirements of this Article XI by the expiration of any applicable grace period such failure shall constitute an Event of Defaulta Servicer Termination Event. Neither the Master Servicer nor the Special Servicer shall be subject to an a Servicer Termination Event of Default pursuant to clause (iii) of the definition thereof prior to the expiration of the grace period applicable to such party’s obligations under Article XI as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, for failing to deliver any item required under this Article XI by the time required hereunder with respect to any reporting period for which the Trust is not required to file Exchange Act reports.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-Cibx), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-Cibx)
Certain Matters Regarding Significant Obligors. (a) For purposes of this Agreement: (i) It is hereby acknowledged that the borrower under Mortgage Loan No. 1 identified as InterContinental Hotel Chicago Centro New-Plan Pool I on the Mortgage Loan Schedule and (ii) SunTrust Bank, in its capacity as tenant under the leases related to the SunTrust Bank Portfolio Loans is a significant obligor (each, a “Significant Obligor”)obligor, and, accordingly, Item 6 of Form 10-D and Item 1112(b) of Form 10-K, K provide for the inclusion of updated net operating income of the related borrower orborrower, with respect to SunTrust Bank, updated information under Item 301 of Regulation S-K, in each case as required by Item 1112(b) of Regulation AB, on each Form 10-D to be filed by the Trust with respect to a Distribution Date immediately following the date in which each financial statement of the applicable Significant Obligor significant obligor is required to be delivered to the lender under the related Mortgage Loan documents (which, for the avoidance of doubt, is ninety seventy-five (9075) days following the end of each calendar fiscal year, and forty-five thirty (4530) days following the end of each calendar fiscal quarter, as applicable, as set forth in the related loan agreement), or on each Form 10-K filed by the Trust, as applicable. With respect to each Significant Obligor other than SunTrust Bank, upon Upon receipt of the updated net operating income information, the Master Servicer shall update the following columns of the CREFC CMSA Loan Periodic Update File for the applicable quarterly or annual Distribution Date: BB, BP, BT and BU (corresponding fields 54, 68, 72 72-and 73).
(b) With respect to the Significant Obligor other than SunTrust Bank, in . In the event that the Master Servicer does not receive the xxxx xxx Xxxxxx Xxxxxxxx xxxx xxx xxxxxve financial information referred to in clause (a) above satisfactory to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, of such the significant obligor from the related borrower within two (2) Business Days after the date such financial information is required to be delivered under the related Mortgage Loan documents, the Master Servicer shall notify the Depositor that it has not received such financial informationthem. The Master Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the Depositor under the Exchange Act, but in no event requiring the Master Servicer to initiate litigation) to continue to attempt to obtain such financial information from the related borrowerBorrower. The Master Servicer shall retain written evidence of each instance in which it attempts to contact the Borrower to obtain the required financial information and is unsuccessful and, within five Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by the Trust, shall forward an Officer’s 's Certificate evidencing its attempts to obtain this information to the Paying Agent Trustee and the Depositor. This Officer’s 's Certificate should be addressed to the Paying Agent Trustee as follows: Wxxxx Wells Fargo Bank, National AssociationN.A., 9000 Xxx Xxxxxxxxx Xxxx9062 Old Annapolis Road, XxxxxxxxColumbia, Xxxxxxxx 00000Maryland 21000, Xttention: SEC Reporxxxx Xxxxx, xx x-0000, Attention: Corporate Trust (CMBS) J.X. Xxxxxx Chase Commercial Mortgage Securities Trust Series 2011-C5 with a copy by email to cxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx or faxed to 400-000-0000, Attn: CTS SEC Notificationsxxxxxx xx xxx.xxx.xxxxxxxxxxxx@xellsfargo.com, and to the Depositor as required by Section 11.14.
(c) With respect to the information required by Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, for SunTrust Bank, in its capacity as a “significant obligor” under Regulation AB, the Depositor directs the Master Servicer to use reasonable efforts to (A) obtain from the FDIC’s Internet website located at wxx0.xxxx.xxx/xxxxx/xxxx_xxxxxxxx.xxx (or a successor Internet website for which the Depositor shall provide the Master Servicer reasonable prior written notice that the FDIC has a successor Internet website where such statements are now posted) a “statement of assets and liabilities” and a “statement of income and expenses” for the most recent prior calendar quarter in the case of Item 6 of Form 10-D or the most recent calendar year in the case of Item 1112(b) of Form 10-K, as applicable, for purposes of complying with such Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, or, (B) if such statements are not available on the FDIC’s Internet website, shall (1) promptly, but in no event later than the next Business Day, deliver written notice to the Depositor that the statements are unavailable and (2) promptly deliver a written request to the borrowers under the SunTrust Bank Portfolio Loans to provide the financial information referred to in clause (a) above to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may bebx Xxxxxxx 00.00. In the event the FDIC no longer posts such statements on the FDIC's Internet website located at wxx0.xxxx.xxx/xxxxx/xxxx_xxxxxxxx.xxx (or a successor Internet website), then the Master Servicer shall only contact the borrowers under the SunTrust Bank Portfolio Loans to provide the financial information referred to in clause (a) above. In the case of clause (B) above, the Master Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the Depositor under the Exchange Act, but in no event requiring the Master Servicer to initiate litigation) to continue to attempt to obtain the financial information referred to in clause (a) above from the related borrower until such statements or financial information are provided. The Master Servicer shall retain written evidence of each instance in which it attempts to contact the related borrower to obtain the required statements and is unsuccessful and, within five (5) Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by the Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain these statements or information to the Paying Agent and the Depositor. This Officer’s Certificate should be addressed to the Paying Agent as follows: Wxxxx Fargo Bank, National Association, 9000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000-0000, Attention: Corporate Trust (CMBS) J.X. Xxxxxx Chase Commercial Mortgage Securities Trust Series 2011-C5 with a copy by email to cxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx or faxed to 400-000-0000, Attn: CTS SEC Notifications, and to the Depositor as required by Section 11.14. The Master Servicer shall have no obligation or duty to verify, confirm, analyze or otherwise determine whether the information being delivered under this Section 11.16(c) is accurate, complete or otherwise is or is not anything other than what it purports to be.
(d) If the Paying Agent Xx xxe Trustee has not timely received financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, it shall include the following statement with respect to Item 6 on the related Form 10-D or Item 1112(b) on the related Form 10-K: “"The information required for this [Item 6] [Item 1112(b)] rests with a person or entity which is not affiliated with the registrant. Oral and written requests have been made on behalf of the registrant, to the extent required under the related pooling and servicing agreement, to obtain the information required for this [Item 6] [Item 1112 (b)], and the registrant has been unable to obtain such information to include on this [Form 10-D] [Form 10-K] by the related filing deadline. The information is therefore being omitted herefrom in reliance on Rule 12b-21 under the Securities Exchange Act of 1934, as amended” " or such other statement as shall be required by the Depositor.
(e) . Notwithstanding anything contained in this Section 11.16, in the event that the Paying Agent files a Form 15 Suspension Notification pursuant to Section 11.08 of this Agreement and so long as the Trust is not subject to the reporting requirements of the Exchange Act, the Master Servicer shall not be required to fulfill its obligations under this Section 11.16.
(f) For the avoidance . [End of doubt, neither the Master Servicer nor the Special Servicer shall be subject to an Event of Default pursuant to clause (iii) of the definition thereof prior to the expiration of the grace period applicable to such party’s obligations under Article XI as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, during any grace period provided for in this Article XI; provided, that if any such party fails to comply with the delivery requirements of this Article XI by the expiration of any applicable grace period such failure shall constitute an Event of Default. Neither the Master Servicer nor the Special Servicer shall be subject to an Event of Default pursuant to clause (iii) of the definition thereof prior to the expiration of the grace period applicable to such party’s obligations under Article XI as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, for failing to deliver any item required under this Article XI by the time required hereunder with respect to any reporting period for which the Trust is not required to file Exchange Act reports.]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-Cibc20)
Certain Matters Regarding Significant Obligors. (a) For purposes the avoidance of this Agreement: (i) the borrower under Mortgage Loan No. 1 identified as InterContinental Hotel Chicago on the Mortgage Loan Schedule and (ii) SunTrust Bankdoubt, in its capacity as tenant under the leases related to the SunTrust Bank Portfolio Loans there is a no significant obligor (each, a “Significant Obligor”), and, accordingly) related to the Trust. With respect to the Significant Obligor, Item 6 of Form 10-D and Item 1112(b) of Form 10-K, provide for the inclusion of updated net operating income of the related borrower or, with respect to SunTrust Bank, updated information under Item 301 of Regulation S-K, in each case Mortgagor as required by Item 1112(b) of Regulation AB, on each Form 10-D to be filed by the Trust with respect to a Distribution Date immediately following the date in which each financial statement of the applicable Significant Obligor is required to be delivered to the lender under the related Mortgage Loan documents (which, for the avoidance of doubt, is ninety seventy-five (9075) days following the end of each calendar year, and forty-five (45) days following the end of each calendar quarter, as applicable, quarter as set forth in the related loan agreement), or on each Form 10-K filed by the Trust, as applicable. With respect to each the Significant Obligor other than SunTrust BankObligor, upon after receipt of the updated net operating income information, the Master Servicer shall update the following columns of the CREFC CREFC® Loan Periodic Update File for (i) the next applicable quarterly Distribution Date if the Master Servicer receives such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date or annual (ii) the second succeeding Distribution Date if the Master Servicer does not receive such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date: BB, BP, BT and BU (corresponding fields 54, 68, 72 and 73). The Master Servicer shall provide the related Mortgagor with written notice no later than sixty (60) days after the end of any calendar year that it is requesting such financial statements to be delivered within seventy-five (75) days after the close of the calendar year, and shall use reasonable best efforts to cause the Mortgagor to deliver the same on or before the date that is seventy-five (75) days after the close of the applicable calendar year.
(b) With respect to the Significant Obligor other than SunTrust BankObligor, in the event that the Master Servicer does not receive the financial information referred to in clause (a) above to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, of such significant obligor from the related borrower Mortgagor within two five (25) Business Days after the date such financial information is required to be delivered under the related Mortgage Loan documentsdocuments (it being understood that, so long as the Mortgagor uses such best efforts, it shall not be an Event of Default if such statements are not delivered on or prior to the date that is seventy-five (75) days after the close of the applicable calendar year, but in any event, the Mortgagor shall be obligated to deliver such statements on or before the date that is 80 days after the end of such calendar year), the Master Servicer shall notify the Depositor that it has not received such financial information. The Master Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the Depositor under the Exchange Act, but in no event requiring the Master Servicer to initiate litigation) to continue to attempt to obtain such financial information from the related borrower. The Master Servicer shall retain written evidence of each instance in which it attempts to contact the Borrower to obtain the required financial information and is unsuccessful and, within five Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by the Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Paying Agent and the Depositor. This Officer’s Certificate should be addressed to the Paying Agent as follows: Wxxxx Fargo Bank, National Association, 9000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000-0000, Attention: Corporate Trust (CMBS) J.X. Xxxxxx Chase Commercial Mortgage Securities Trust Series 2011-C5 with a copy by email to cxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx or faxed to 400-000-0000, Attn: CTS SEC Notifications, and to the Depositor as required by Section 11.14.
(c) With respect to the information required by Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, for SunTrust Bank, in its capacity as a “significant obligor” under Regulation AB, the Depositor directs the Master Servicer to use reasonable efforts to (A) obtain from the FDIC’s Internet website located at wxx0.xxxx.xxx/xxxxx/xxxx_xxxxxxxx.xxx (or a successor Internet website for which the Depositor shall provide the Master Servicer reasonable prior written notice that the FDIC has a successor Internet website where such statements are now posted) a “statement of assets and liabilities” and a “statement of income and expenses” for the most recent prior calendar quarter in the case of Item 6 of Form 10-D or the most recent calendar year in the case of Item 1112(b) of Form 10-K, as applicable, for purposes of complying with such Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, or, (B) if such statements are not available on the FDIC’s Internet website, shall (1) promptly, but in no event later than the next Business Day, deliver written notice to the Depositor that the statements are unavailable and (2) promptly deliver a written request to the borrowers under the SunTrust Bank Portfolio Loans to provide the financial information referred to in clause (a) above to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be. In the event the FDIC no longer posts such statements on the FDIC's Internet website located at wxx0.xxxx.xxx/xxxxx/xxxx_xxxxxxxx.xxx (or a successor Internet website), then the Master Servicer shall only contact the borrowers under the SunTrust Bank Portfolio Loans to provide the financial information referred to in clause (a) above. In the case of clause (B) above, the Master Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the Depositor under the Exchange Act, but in no event requiring the Master Servicer to initiate litigation) to continue to attempt to obtain the financial information referred to in clause (a) above from the related borrower until such statements or financial information are providedMortgagor. The Master Servicer shall retain written evidence of each instance in which it attempts to contact the related borrower Mortgagor to obtain the required statements financial information and is unsuccessful and, within five (5) Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by the Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain these statements or this information to the Paying Agent Certificate Administrator and the Depositor. This Officer’s Certificate should be addressed to the Paying Agent Certificate Administrator as follows: Wxxxx Xxxxx Fargo Bank, National Association, 9000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000-000000000 0951, Attention: Corporate Trust (CMBS) J.X. X.X. Xxxxxx Chase Commercial Mortgage Securities Trust Series 20112014-C5 C19 with a copy by email to cxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx xxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx or faxed by fax to 400000-000-0000, AttnAttention: CTS SEC Notifications, and to the Depositor as required by Section 11.14. The In any event, and in addition to the foregoing requirements of this Section 11.16(b), if the Master Servicer does not receive the financial information referred to in clause (a) above to comply with (i) Item 6 of Form 10-D from the related Mortgagor within 20 days after the end of each calendar quarter, the Master Servicer shall have request the delivery of such information from the related Mortgagor in reliance on Section 5.1.11(i) of the related loan agreement and that such delivery be made by no obligation later than 30 days from the end of such calendar quarter, or duty (ii) Item 1112(b) of Form 10-K from the related Mortgagor by March 10th of any year in which such information will be required to verifybe included and filed on Form 10-K, confirm, analyze or otherwise determine whether the Master Servicer shall request the delivery of such information being delivered under this Section 11.16(c) is accurate, complete or otherwise is or is not anything other from the related Mortgagor and that such delivery be made by no later than what it purports to beMarch 20th of such year.
(dc) If the Paying Agent Certificate Administrator has not timely received financial information from the related Mortgagor satisfactory to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, it the Certificate Administrator shall include the following statement with respect to Item 6 on the related Form 10-D or Item 1112(b) on the related Form 10-K: “The information required for this [Item 6] [Item 1112(b)] rests with a person or entity which is not affiliated with the registrant. Oral and written requests have been made on behalf of the registrant, to the extent required under the related pooling and servicing agreement, to obtain the information required for this [Item 6] [Item 1112 (b)], and the registrant has been unable to obtain such information to include on this [Form 10-D] [Form 10-K] by the related filing deadline. The information is therefore being omitted herefrom in reliance on Rule 12b-21 under the Securities Exchange Act of 1934, as amended” or such other statement as shall be required by the Depositor.
(ed) Notwithstanding anything contained in this Section 11.16, in the event that the Paying Agent Certificate Administrator files a Form 15 Suspension Notification pursuant to Section 11.08 of this Agreement and so long as the Trust is not subject to the reporting requirements of the Exchange Act, the Master Servicer shall not be required to fulfill its obligations under this Section 11.16.
(f) For the avoidance of doubt, neither the Master Servicer nor the Special Servicer shall be subject to an Event of Default pursuant to clause (iii) of the definition thereof prior to the expiration of the grace period applicable to such party’s obligations under Article XI as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, during any grace period provided for in this Article XI; provided, that if any such party fails to comply with the delivery requirements of this Article XI by the expiration of any applicable grace period such failure shall constitute an Event of Default. Neither the Master Servicer nor the Special Servicer shall be subject to an Event of Default pursuant to clause (iii) of the definition thereof prior to the expiration of the grace period applicable to such party’s obligations under Article XI as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, for failing to deliver any item required under this Article XI by the time required hereunder with respect to any reporting period for which the Trust is not required to file Exchange Act reports.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C19)
Certain Matters Regarding Significant Obligors. (a) For purposes of this Agreement: (i) , the borrower under Mortgage Loan No. 1 Mortgaged Property identified as InterContinental Hotel Chicago on the Mortgage Loan Schedule and (ii) SunTrust Bank, in its capacity as tenant under the leases related to the SunTrust Bank Portfolio Loans [ ] is a “significant obligor obligor” (each, a “Significant Obligor”)) as such term is used in Items 1101 and 1112 of Regulation AB. Accordingly, andas required by Item 1112(b) of Regulation AB, accordingly, each of Item 6 of Form 10-D and Item 1112(b) of Form 10-K, K provide for the inclusion of updated net operating income of the related borrower or, with respect Mortgagor on each Form 10-K to SunTrust Bank, updated information under Item 301 be filed on behalf of Regulation S-K, in each case as required by Item 1112(b) of Regulation AB, on the Trust and each Form 10-D to be filed by on behalf of the Trust with respect to a Distribution Date occurring on or immediately following the date in on which each financial statement of the applicable Significant Obligor is required to be delivered to the lender under the related Mortgage Loan documents Documents (which, for the avoidance of doubt, which is ninety (90) [ ] days following the end of each calendar fiscal quarter (including year, and forty-five (45end) or [ ] days following the end of each calendar quarterfiscal year, as applicable, as set forth in Section [ ] and Section [ ] of the related loan agreement), or on each Form 10-K filed agreement relating to the Mortgage Loan secured by the Trust, Mortgaged Property identified on the Mortgage Loan Schedule as applicable[ ]). With respect to each Significant Obligor other than SunTrust Bank, upon After receipt of the updated net operating income informationinformation relating to the Significant Obligor, the Master Servicer shall update the following columns fields of the CREFC Loan Periodic Update File for the applicable quarterly (a) immediately succeeding Distribution Date if the Master Servicer receives such updated net operating income information at least ten (10) Business Days prior to the Determination Date related to such Distribution Date (or annual such shorter period as may be necessary to comply with revised law or regulations or interpretations thereof; provided the Master Servicer receives written notice of such shorter period from the Depositor or the Trustee) or (b) the second succeeding Distribution Date if the Master Servicer does not receive such updated net operating income information prior to the date set forth in clause (a): 54 – “Preceding Fiscal Year NOI,” 68 – “Most Recent NOI,” 72 – “Most Recent Financial As of Start Date: BB” and 73 – “Most Recent Financial As of End Date”, BP, BT and BU (corresponding fields 54, 68, 72 and 73)as such field numbers may change from time to time.
(b) With respect to the Significant Obligor other than SunTrust Bank, in In the event that the Master Servicer does not receive from the related Mortgagor the financial information referred to in clause (a) above in order to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, of such significant obligor from the related borrower within two five (25) Business Days after the date such financial information is required to be delivered under the related Mortgage Loan documentsDocuments, the Master Servicer shall notify the Depositor that it has not received such financial information. The Master Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the Depositor under the Exchange Act, but in no event requiring the Master Servicer to initiate litigation) to continue to attempt to obtain such financial information from the related borrowerMortgagor. The Master Servicer shall retain written evidence of each instance in which it attempts to contact the Borrower related Mortgagor to obtain the required financial information and is unsuccessful and, within five Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by on behalf of the Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Paying Agent Trustee and the Depositor. This Officer’s Certificate should be addressed to the Paying Agent as follows: Wxxxx Fargo Bank, National Association, 9000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000-0000, Attention: Corporate Trust (CMBS) J.X. Xxxxxx Chase Commercial Mortgage Securities Trust Series 2011-C5 with a copy by email to cxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx or faxed to 400-000-0000, Attn: CTS SEC Notifications, and to the Depositor as required by Section 11.14.
(c) With respect to the information required by Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, for SunTrust Bank, in its capacity as a “significant obligor” under Regulation AB, the Depositor directs the Master Servicer to use reasonable efforts to (A) obtain from the FDIC’s Internet website located at wxx0.xxxx.xxx/xxxxx/xxxx_xxxxxxxx.xxx (or a successor Internet website for which the Depositor shall provide the Master Servicer reasonable prior written notice that the FDIC has a successor Internet website where such statements are now posted) a “statement of assets and liabilities” and a “statement of income and expenses” for the most recent prior calendar quarter in the case of Item 6 of Form 10-D or the most recent calendar year in the case of Item 1112(b) of Form 10-K, as applicable, for purposes of complying with such Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, or, (B) if such statements are not available on the FDIC’s Internet website, shall (1) promptly, but in no event later than the next Business Day, deliver written notice to the Depositor that the statements are unavailable and (2) promptly deliver a written request to the borrowers under the SunTrust Bank Portfolio Loans to provide the financial information referred to in clause (a) above to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be. In the event the FDIC no longer posts such statements on the FDIC's Internet website located at wxx0.xxxx.xxx/xxxxx/xxxx_xxxxxxxx.xxx (or a successor Internet website), then the Master Servicer shall only contact the borrowers under the SunTrust Bank Portfolio Loans to provide the financial information referred to in clause (a) above. In the case of clause (B) above, the Master Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the Depositor under the Exchange Act, but in no event requiring the Master Servicer to initiate litigation) to continue to attempt to obtain the financial information referred to in clause (a) above from the related borrower until such statements or financial information are provided. The Master Servicer shall retain written evidence of each instance in which it attempts to contact the related borrower to obtain the required statements and is unsuccessful and, within five (5) Business Days prior to the date in which a Form 10-D or Form 10-K, as applicable, is required to be filed by the Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain these statements or information to the Paying Agent and the Depositor. This Officer’s Certificate should be addressed to the Paying Agent as follows: Wxxxx Fargo Bank, National Association, 9000 Xxx Xxxxxxxxx Xxxx, Xxxxxxxx, Xxxxxxxx 00000-0000, Attention: Corporate Trust (CMBS) J.X. Xxxxxx Chase Commercial Mortgage Securities Trust Series 2011-C5 with a copy by email to cxx.xxx.xxxxxxxxxxxxx@xxxxxxxxxx.xxx or faxed to 400-000-0000, Attn: CTS SEC Notifications, and to the Depositor as required by Section 11.14. The Master Servicer shall have no obligation or duty to verify, confirm, analyze or otherwise determine whether the information being delivered under this Section 11.16(c10.16(b) is accurate, complete or otherwise is or is not anything other than what it purports to be.
(dc) If the Paying Agent Trustee has not timely received financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b) of Form 10-K, as the case may be, it shall include the following statement with respect to Item 6 on the related Form 10-D or Item 1112(b) on the related Form 10-K: “The information required for this [Item 6] [Item 1112(b)] rests with a person or entity which is not affiliated with the registrant. Oral and written requests have been made on behalf of the registrant, to the extent required under the related pooling and servicing agreement, to obtain the information required for this [Item 6] [Item 1112 (b)], and the registrant has been unable to obtain such information to include on this [Form 10-D] [Form 10-K] by the related filing deadline. The information is therefore being omitted herefrom in reliance on Rule 12b-21 under the Securities Exchange Act of 1934, as amended” or such other statement as shall be required by the Depositor.
(ed) Notwithstanding anything contained in this Section 11.1610.16, in the event that the Paying Agent files a Form 15 Suspension Notification pursuant to Section 11.08 of this Agreement that, and for so long as as, the Trust is not subject to the reporting requirements of the Exchange Act, the Master Servicer shall not be required to fulfill its obligations under this Section 11.1610.16.
(f) For the avoidance of doubt, neither the Master Servicer nor the Special Servicer shall be subject to an Event of Default pursuant to clause (iii) of the definition thereof prior to the expiration of the grace period applicable to such party’s obligations under Article XI as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, during any grace period provided for in this Article XI; provided, that if any such party fails to comply with the delivery requirements of this Article XI by the expiration of any applicable grace period such failure shall constitute an Event of Default. Neither the Master Servicer nor the Special Servicer shall be subject to an Event of Default pursuant to clause (iii) of the definition thereof prior to the expiration of the grace period applicable to such party’s obligations under Article XI as provided for in such clause (iii) nor shall any such party be deemed to not be in compliance under this Agreement, for failing to deliver any item required under this Article XI by the time required hereunder with respect to any reporting period for which the Trust is not required to file Exchange Act reports.]
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Barclays Commercial Mortgage Securities LLC)