Common use of Collection of Mortgage Loan and Serviced Whole Loan Payments Clause in Contracts

Collection of Mortgage Loan and Serviced Whole Loan Payments. (a) The Master Servicer (or the Special Servicer with respect to the Specially Serviced Mortgage Loans) shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans (excluding the Non-Serviced Mortgage Loans) and the Serviced Whole Loans serviced hereunder, and shall, to the extent such procedures shall be consistent with this Agreement and the terms and conditions of the Mortgage Loans and Serviced Whole Loans, follow such collection procedures as are consistent with the Servicing 128 Standard; provided, however, that nothing herein contained shall be construed as an express or implied guarantee by the Master Servicer or the Special Servicer of the collectibility of the Mortgage Loans and Serviced Whole Loans. Consistent with the foregoing, the Master Servicer may in its discretion waive any Penalty Charge in connection with any delinquent payment on a Mortgage Loan or Serviced Whole Loan serviced hereunder (other than a Specially Serviced Mortgage Loan) and the Special Servicer may in its discretion waive any Penalty Charge in connection with any delinquent payment on a Specially Serviced Mortgage Loan. (b) Promptly following the Closing Date, the Trustee shall send written notice to the COMM 2005-LP5 Trustee, the COMM 2005-LP5 Master Servicer, the GE 2005-C2 Trustee and the GE 2005-C2 Master Servicer, stating that, as of the Closing Date, the Trustee is the holder of the General Motors Building Mortgage Loan, the 000 Xxxx 00xx Xxxxxx Mortgage Loan, the Loews Miami Beach Mortgage Loan and the Wellpoint Office Tower Mortgage Loan, as applicable, and directing the COMM 2005-LP5 Master Servicer and the GE 2005-C2 Master Servicer, as applicable, to remit to the Master Servicer all amounts payable to, and directing the the COMM 2005-LP5 Master Servicer and the GE 2005-C2 Master Servicer, as applicable, to forward, deliver or otherwise make available, as the case may be, to the Master Servicer all reports, statements, documents, communications and other information that are to be forwarded, delivered or otherwise made available to, the respective holders of the General Motors Building Mortgage Loan, the 000 Xxxx 00xx Xxxxxx Mortgage Loan, the Loews Miami Beach Mortgage Loan and the Wellpoint Office Tower Mortgage Loan under the COMM 2005-LP5 Pooling and Servicing Agreement and the GE 2005-C2 Pooling and Servicing Agreement, as applicable, and the General Motors Building Intercreditor Agreement, the General Motors Building Agreement Among Noteholders, the 000 Xxxx 00xx Xxxxxx Intercreditor Agreement, the Loews Miami Beach Intercreditor Agreement and the Wellpoint Office Tower Intercreditor Agreement, as applicable. The Master Servicer shall, on the day of receipt thereof, deposit into the Certificate Account all amounts received with respect to the General Motors Building Mortgage Loan, the 000 Xxxx 00xx Xxxxxx Mortgage Loan, the Loews Miami Beach Mortgage Loan and the Wellpoint Office Tower Mortgage Loan and any related Mortgaged Property or any related REO Property.

Collection of Mortgage Loan and Serviced Whole Loan Payments. (a) The Master Servicer (or the Special Servicer with respect to the Specially Serviced Mortgage Loans) shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans (excluding the Non-Serviced Mortgage LoansLoan) and the Serviced Whole Loans Loan serviced hereunder, and shall, to the extent such procedures shall be consistent with this Agreement and the terms and conditions of the Mortgage Loans and Serviced Whole LoansLoan, follow such collection procedures as are consistent with the Servicing 128 Standard; provided, however, that nothing herein contained shall be construed as an express or implied guarantee by the Master Servicer or the Special Servicer of the collectibility of the Mortgage Loans and Serviced Whole LoansLoan. Consistent with the foregoing, the Master Servicer may in its discretion waive any Penalty Charge in connection with any delinquent payment on a Mortgage Loan or Serviced Whole Loan serviced hereunder (other than a Specially Serviced Mortgage Loan) and the Special Servicer may in its discretion waive any Penalty Charge in connection with any delinquent payment on a Specially Serviced Mortgage Loan. (b) Promptly following the Closing Date, the Trustee shall send written notice to the COMM 2005GE 2004-LP5 Trustee, the COMM 2005-LP5 Master Servicer, the GE 2005-C2 C3 Trustee and the GE 20052004-C2 C3 Master Servicer, Servicer stating that, as of the Closing Date, the Trustee is the holder of the General Motors Building Mortgage Loan, the 000 Xxxx 00xx Xxxxxx Mortgage Loan, the Loews Miami Beach Strategic Hotel Portfolio Mortgage Loan and the Wellpoint Office Tower Mortgage Loan, as applicable, and directing the COMM 2005GE 2004-LP5 C3 Master Servicer and the GE 2005-C2 Master Servicer, as applicable, to remit to the Master Servicer all amounts payable to, and directing the the COMM 2005GE 2004-LP5 C3 Master Servicer and the GE 2005-C2 Master Servicer, as applicable, to forward, deliver or otherwise make available, as the case may be, to the Master Servicer all reports, statements, documents, communications and other information that are to be forwarded, delivered or otherwise made available to, the respective holders holder of the General Motors Building Mortgage Loan, the 000 Xxxx 00xx Xxxxxx Mortgage Loan, the Loews Miami Beach Mortgage Loan and the Wellpoint Office Tower Strategic Hotel Portfolio Mortgage Loan under the COMM 2005GE 2004-LP5 C3 Pooling and Servicing Agreement and the GE 2005-C2 Pooling and Servicing Agreement, as applicable, and the General Motors Building Strategic Hotel Portfolio Intercreditor Agreement, the General Motors Building Agreement Among Noteholders, the 000 Xxxx 00xx Xxxxxx Intercreditor Agreement, the Loews Miami Beach Intercreditor Agreement and the Wellpoint Office Tower Intercreditor Agreement, as applicableAgreements. The Master Servicer shall, on the day of receipt thereof, deposit into the Certificate Account all amounts received with respect to the General Motors Building Mortgage Loan, the 000 Xxxx 00xx Xxxxxx Mortgage Loan, the Loews Miami Beach Mortgage Loan and the Wellpoint Office Tower Strategic Hotel Portfolio Mortgage Loan and any related Mortgaged Property or any related REO Property, except the Balloon Payment due on the Strategic Hotel Portfolio Mortgage Loan, which shall be remitted directly to the Trustee. 121 Upon receipt by the Trustee of any such Balloon Payment described in the foregoing clause (b), the Master Servicer may withdraw from general collections on deposit in the Certificate Account amounts that would otherwise be payable to the Master Servicer and the Special Servicer from such Balloon Payment pursuant to Section 3.05(a) had it been received by the Master Servicer or the Special Servicer. Such notice shall also provide contact information for the Trustee, the Master Servicer, the Special Servicer and the Majority Certificateholder of the Controlling Class.

Collection of Mortgage Loan and Serviced Whole Loan Payments. (a) The Master Servicer (or the Special Servicer with respect to the Specially Serviced Mortgage Loans) shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans (excluding the Non-Serviced Mortgage Loans) and the Serviced Whole Loans serviced hereunder, and shall, to the extent such procedures shall be consistent with this Agreement and the terms and conditions of the Mortgage Loans and Serviced Whole Loans, follow such collection procedures as are consistent with the Servicing 128 Standard; provided, however, that nothing herein contained shall be construed as an express or implied guarantee by the Master Servicer or the Special Servicer of the collectibility of the Mortgage Loans and Serviced Whole Loans. Consistent with the foregoing, the Master Servicer may in its discretion waive any Penalty Charge in connection with any delinquent payment on a Mortgage Loan or Serviced Whole Loan serviced hereunder (other than a Specially Serviced Mortgage Loan) and the Special Servicer may in its discretion waive any Penalty Charge in connection with any delinquent payment on a Specially Serviced Mortgage Loan. (b) Promptly following the Closing Date, the Trustee shall send written notice to the COMM 2005-LP5 Trustee, the COMM 2005-LP5 Master Servicer, the GE 2005-C2 C4 Trustee and the GE 2005-C2 C4 Master Servicer, Servicer stating that, as of the Closing Date, the Trustee is the holder of the General Motors Building Mortgage Loan, the 000 Xxxx 00xx Xxxxxx Mortgage Loan, the Loews Miami Beach DDR/Macquarie Mervyn's Portfolio Mortgage Loan and the Wellpoint Office Tower Design Center of the Americas Mortgage Loan, as applicable, Loan and directing the COMM 2005-LP5 Master Servicer and the GE 2005-C2 C4 Master Servicer, as applicable, Servicer to remit to the Master Servicer all amounts payable to, and directing the the COMM 2005-LP5 Master Servicer and the GE 2005-C2 C4 Master Servicer, as applicable, Servicer to forward, deliver or otherwise make available, as the case may be, to the Master Servicer all reports, statements, documents, communications and other information that are to be forwarded, delivered or otherwise made available to, the respective holders holder of the General Motors Building Mortgage Loan, the 000 Xxxx 00xx Xxxxxx Mortgage Loan, the Loews Miami Beach DDR/Macquarie Mervyn's Portfolio Mortgage Loan and the Wellpoint Office Tower holder of the Design Center of the Americas Mortgage Loan under the COMM GE 2005-LP5 C4 Pooling and Servicing Agreement and the GE 2005-C2 Pooling and Servicing Agreement, as applicable, and the General Motors Building Intercreditor Agreement, the General Motors Building Agreement Among Noteholders, the 000 Xxxx 00xx Xxxxxx Intercreditor Agreement, the Loews Miami Beach DDR/Macquarie Mervyn's Portfolio Intercreditor Agreement and the Wellpoint Office Tower Design Center of the Americas Intercreditor Agreement, as applicable. The Master Servicer shall, on the day of receipt thereof, deposit into the Certificate Account all amounts received with respect to the General Motors Building Mortgage Loan, the 000 Xxxx 00xx Xxxxxx Mortgage Loan, the Loews Miami Beach DDR/Macquarie Mervyn's Portfolio Mortgage Loan and the Wellpoint Office Tower Design Center of the Americas Mortgage Loan and any related Mortgaged Property or any related REO Property.

Collection of Mortgage Loan and Serviced Whole Loan Payments. (a) The Master Servicer (or the Special Servicer with respect to the Specially Serviced Mortgage Loans) shall make reasonable efforts to collect all payments called for under the terms and provisions of the Mortgage Loans (excluding the Non-Serviced Mortgage Loans) and the Serviced Whole Loans serviced hereunder, and shall, to the extent such procedures shall be consistent with this Agreement and the terms and conditions of the Mortgage Loans and Serviced Whole Loans, follow such collection procedures as are consistent with the Servicing 128 Standard; provided, however, that nothing herein contained shall be construed as an express or implied guarantee by the Master Servicer or the Special Servicer of the collectibility of the Mortgage Loans and Serviced Whole Loans. Consistent with the foregoing, the Master Servicer may in its discretion waive any Penalty Charge in connection with any delinquent payment on a Mortgage Loan or Serviced Whole Loan serviced hereunder (other than a Specially Serviced Mortgage Loan) and the Special Servicer may in its discretion waive any Penalty Charge in connection with any delinquent payment on a Specially Serviced Mortgage Loan. (b) Promptly following the Closing Date: (i) The Trustee shall send written notice to the GCCFC 2004-GG1 Trustee and the GCCFC 2004-GG1 Master Servicer stating that, as of the Closing Date, the 121 Trustee is the holder of the 000 Xxxxxx Xxxxxx Mortgage Loan and directing the GCCFC 2004-GG1 Master Servicer to remit to the Master Servicer all amounts payable to, and directing the GCCFC 2004-GG1 Master Servicer to forward, deliver or otherwise make available, as the case may be, to the Master Servicer all reports, statements, documents, communications and other information that are to be forwarded, delivered or otherwise made available to, the holder of the 000 Xxxxxx Xxxxxx Mortgage Loan under the GCCFC 2004-GG1 Pooling and Servicing Agreement and the 000 Xxxxxx Xxxxxx Intercreditor Agreement. The Master Servicer shall, on the day of receipt thereof, deposit into the Certificate Account all amounts received with respect to the 000 Xxxxxx Xxxxxx Mortgage Loan and any related Mortgaged Property or any related REO Property, except the Balloon Payment due on the 000 Xxxxxx Xxxxxx Mortgage Loan, which shall be remitted directly to the Trustee. (ii) The Trustee shall send written notice to the COMM 20052004-LP5 Trustee, the COMM 2005-LP5 Master Servicer, the GE 2005-C2 LNB3 Trustee and the GE 2005COMM 2004-C2 LNB3 Master Servicer, Servicer stating that, as of the Closing Date, the Trustee is the holder of the General Motors Building Mortgage Loan, the 000 Xxxx 00xx Xxxxxx Mortgage Loan, the Loews Miami Beach 731 Lexington Avenue-Bloomberg Headquarters Mortgage Loan and the Wellpoint Office Tower Mortgage Loan, as applicable, and directing the COMM 20052004-LP5 LNB3 Master Servicer and the GE 2005-C2 Master Servicer, as applicable, to remit to the Master Servicer all amounts payable to, and directing the the COMM 20052004-LP5 LNB3 Master Servicer and the GE 2005-C2 Master Servicer, as applicable, to forward, deliver or otherwise make available, as the case may be, to the Master Servicer all reports, statements, documents, communications and other information that are to be forwarded, delivered or otherwise made available to, the respective holders of the General Motors Building Mortgage Loan, the 000 Xxxx 00xx Xxxxxx Mortgage Loan, the Loews Miami Beach Mortgage Loan and the Wellpoint Office Tower 731 Lexington Avenue-Bloomberg Headquarters Mortgage Loan under the COMM 20050000-LP5 Pooling XXX0 Xxxxxxx and Servicing Agreement and the GE 2005000 Xxxxxxxxx Xxxxxx-C2 Pooling and Servicing Agreement, as applicable, and the General Motors Building Xxxxxxxxx Xxxxxxxxxxxx Intercreditor Agreement, the General Motors Building Agreement Among Noteholders, the 000 Xxxx 00xx Xxxxxx Intercreditor Agreement, the Loews Miami Beach Intercreditor Agreement and the Wellpoint Office Tower Intercreditor Agreement, as applicableAgreements. The Master Servicer shall, on the day of receipt thereof, deposit into the Certificate Account all amounts received with respect to the General Motors Building Mortgage Loan, the 000 Xxxx 00xx Xxxxxx Mortgage Loan, the Loews Miami Beach Mortgage Loan and the Wellpoint Office Tower 731 Lexington Avenue-Bloomberg Headquarters Mortgage Loan and any related Mortgaged Property or any related REO Property, except the Balloon Payment due on the 731 Lexington Avenue-Bloomberg Headquarters Mortgage Loan, which shall be remitted directly to the Trustee. (iii) The Trustee shall send written notice to the GMACCM 2004-C1 Trustee and the GMACCM 2004-C1 Master Servicer stating that, as of the Closing Date, the Trustee is the holder of the Two Gateway Center Mortgage Loan and directing the GMACCM 2004-C1 Master Servicer to remit to the Master Servicer all amounts payable to, and directing the GMACCM 2004-C1 Master Servicer to forward, deliver or otherwise make available, as the case may be, to the Master Servicer all reports, statements, documents, communications and other information that are to be forwarded, delivered or otherwise made available to, the respective holders of the Two Gateway Center Mortgage Loan under the GMACCM 2004-C1 Pooling and Servicing Agreement and the Two Gateway Center Intercreditor Agreement. The Master Servicer shall, on the day of receipt thereof, deposit into the Certificate Account all amounts received with respect to the Two Gateway Center Mortgage Loan and any related Mortgaged Property or any related REO Property, except the Balloon Payment due on the Two Gateway Center Mortgage Loan, which shall be remitted directly to the Trustee. Upon receipt by the Trustee of any such Balloon Payment described in the foregoing clauses (i), (ii) and (iii), the Master Servicer may withdraw from general collections on deposit in the Certificate Account amounts that would otherwise be payable to the Master Servicer and the Special Servicer from such Balloon Payment pursuant to Section 3.05(a) had it been received by the Master Servicer or the Special Servicer. Such notice shall also provide contact information 122 for the Trustee, the Master Servicer, the Special Servicer and the Majority Certificateholder of the Controlling Class.