CMSA OPERATING STATEMENT ANALYSIS REPORTS REGARDING THE MORTGAGED PROPERTIES Clause Samples
The CMSA Operating Statement Analysis Reports clause requires the preparation and delivery of standardized financial analysis reports concerning the mortgaged properties. These reports typically summarize key financial metrics, such as income, expenses, and net operating income, based on data provided by property managers or borrowers. By mandating regular and consistent reporting, this clause ensures that lenders and investors have reliable, up-to-date information to monitor the financial performance and health of the mortgaged properties, thereby supporting informed decision-making and risk management.
CMSA OPERATING STATEMENT ANALYSIS REPORTS REGARDING THE MORTGAGED PROPERTIES. Within 105 calendar days after the end of each of the first three calendar quarters (in each year) for the trailing or quarterly information received, commencing in the quarter ending on June 30, 2005, the Master Servicer (in the case of Mortgage Loans that are not Specially Serviced Mortgage Loans) or the Special Servicer (in the case of Specially Serviced Mortgage Loans) shall deliver to the Trustee and the Operating Adviser, and solely if it relates to any A/B Mortgage Loan, to the holder of the related B Note (but only so long as the holder of such B Note is the directing or controlling holder as defined in the related Intercreditor Agreement), a CMSA Operating Statement Analysis Report and a CMSA Financial File for each Mortgaged Property (in electronic format), prepared using the non-normalized quarterly and normalized year-end operating statements and rent rolls received from the related Mortgagor. Not later than the Report Date occurring in June of each year, beginning in 2005 for year-end 2004, the Master Servicer (in the case of Mortgage Loans that are not Specially Serviced Mortgage Loans) or the Special Servicer (in the case of Specially Serviced Mortgage Loans) shall deliver to the Trustee and the Operating Adviser a CMSA Operating Statement Analysis Report, a CMSA Financial File and an NOI Adjustment Worksheet for each Mortgage Loan (in electronic format), based on the most recently available year-end financial statements and most recently available rent rolls of each applicable Mortgagor (to the extent provided to the Master Servicer by or on behalf of each Mortgagor, or, in the case of Specially Serviced Mortgaged Loans, as provided to the Special Servicer (by or on behalf of each applicable Mortgagor), which Special Servicer shall forward such information to the Master Servicer on or before May 31 of each such year), containing such information and analyses for each Mortgage Loan provided for in the respective forms of CMSA Operating Statement Analysis Report, CMSA Financial File and an NOI Adjustment Worksheet as would customarily be included in accordance with the Servicing Standard including, without limitation, Debt Service Coverage Ratios and income, subject, in the case of any Non-Serviced Mortgage Loan, to the receipt of such report from the applicable Non-Serviced Mortgage Loan Master Servicer or the applicable Non-Serviced Mortgage Loan Special Servicer. The Master Servicer shall make reasonable efforts, consistent with the Servic...