Common use of Certain Reimbursements By Outside A Noteholders and the Note B Holders Clause in Contracts

Certain Reimbursements By Outside A Noteholders and the Note B Holders. If the Lead Master Servicer, the Lead Special Servicer or the Lead Trustee, as applicable (with respect to the Lead Securitization Note) determines that an outstanding Property Advance is a Nonrecoverable Property Advance, and the Lead Master Servicer is requesting the Non-Lead Securitization Note A Holders to reimburse the Lead Securitization for their Pro Rata Shares of Nonrecoverable Property Advance or Advance Interest Amounts on Property Advances pursuant to the provision set forth in the final sentence of Section 2(c), then the Lead Master Servicer or the Lead Trustee (as provided in the Lead Securitization Servicing Agreement, in the case of a determination of non-recoverability by the Lead Master Servicer, the Lead Special Servicer or the Lead Trustee) may but shall not be obligated to require the Outside A Noteholders and the Note B Holders to make reimbursement to the Lead Master Servicer of their Pro Rata Shares of such Nonrecoverable Advance (and unpaid Advance Interest Amounts thereon). Any such Pro Rata Share for each such Noteholder shall be determined according to a fraction, expressed as a percentage, the numerator of which is the initial Note Principal Balance of such Noteholder’s Note and the denominator of which is the initial aggregate Note Principal Balance of all of the Notes. If so required by the Lead Master Servicer or the Lead Trustee, such reimbursement shall be made by the Outside A Noteholders and the Note B Holders within five (5) Business Days following delivery of notice by the Lead Master Servicer or the Lead Trustee to such Noteholder of the reimbursement amount and such Noteholder’s allocable portion thereof. No Noteholder shall have any liability for a failure of another Noteholder to make a reimbursement required to be made by such other Noteholder under this Section 3(h).

Appears in 9 contracts

Samples: Amended And (Bank5 2023-5yr3), Agreement Between Noteholders (BBCMS Mortgage Trust 2023-C21), Amended And (BMO 2023-C6 Mortgage Trust)

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