Common use of Credit Risk Retention Clause in Contracts

Credit Risk Retention. On the Closing Date, pursuant to the VRR Interest Purchase Agreement, CGMRC is purchasing $22,556,995 of the VRR Interest for cash from the Depositor, NREC is purchasing $5,575,671 of the VRR Interest for cash from CGMRC, and PCC is purchasing $4,827,664 of the VRR Interest for cash from CGMRC, with CGMRC to retain the remaining $12,153,660 of the VRR Interest. The portion of the VRR Interest that NREC is so purchasing from CGMRC on the Closing Date, as such portion of the VRR Interest may be exchanged pursuant to Section 5.13, is referred to in this Agreement as the “VRR2 Interest”. The portion of the VRR Interest that PCC is so purchasing from CGMRC on the Closing Date, as such portion of the VRR Interest may be exchanged pursuant to Section 5.13, is referred to in this Agreement as the “VRR3 Interest”. The portion of the VRR Interest that CGMRC is so purchasing from the Depositor on the Closing Date and thereafter continuing to retain, as such portion of the VRR Interest may be exchanged pursuant to Section 5.13, is referred to in this Agreement as the “VRR1 Interest”. On the Closing Date, the Third Party Purchaser is purchasing from the Initial Purchasers for cash the Class E, Class F and Class G Certificates. The Class E, Class F and Class G Certificates that the Third Party Purchaser is purchasing are referred to in this Agreement as the “HRR Interest”. As of the Cut-Off Date, the Mortgage Loans have an aggregate Stated Principal Balance equal to approximately $1,025,317,969. In consideration of the mutual agreements herein contained, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator and the Trustee agree as follows:

Credit Risk Retention. On the Closing Date, pursuant to the VRR Interest Purchase Agreement, CGMRC is purchasing $22,556,995 25,222,199 of the VRR Interest for cash from the Depositor, NREC and DBNY is purchasing $5,575,671 of the VRR Interest for cash from CGMRC, and PCC is purchasing $4,827,664 13,303,790 of the VRR Interest for cash from CGMRC, with CGMRC to retain the remaining $12,153,660 11,918,409 of the VRR Interest. The portion of the VRR Interest that NREC DBNY is so purchasing from CGMRC on the Closing Date, as such portion of the VRR Interest may be exchanged pursuant to Section 5.13, is referred to in this Agreement as the “VRR2 Interest”. The portion of the VRR Interest that PCC is so purchasing from CGMRC on the Closing Date, as such portion of the VRR Interest may be exchanged pursuant to Section 5.13, is referred to in this Agreement as the “VRR3 Interest”. The portion of the VRR Interest that CGMRC is so purchasing from the Depositor on the Closing Date and thereafter continuing to retain, as such portion of the VRR Interest may be exchanged pursuant to Section 5.13, is referred to in this Agreement as the “VRR1 Interest”. On the Closing Date, the Third Party Purchaser is purchasing from the Initial Purchasers for cash the Class E, Class F and Class G Certificates. The Class E, Class F and Class G Certificates that the Third Party Purchaser is purchasing are referred to in this Agreement as the “HRR Interest”. As of the Cut-Off Date, the Mortgage Loans have an aggregate Stated Principal Balance equal to approximately $1,025,317,9691,327,484,158. In consideration of the mutual agreements herein contained, the Depositor, the Master Servicer, the Special Servicer, the Operating Advisor, the Asset Representations Reviewer, the Certificate Administrator and the Trustee agree as follows: