Delegation of Servicing. At the option of Lender, the Loan may be serviced by one or more servicers (each a, “Servicer”) selected by Lender and Lender may delegate all or any portion of its responsibilities under this Agreement and the other Loan Documents to such servicer or servicers pursuant to a servicing agreement between Lender and such servicer (a “Servicing Agreement”). Borrower shall be responsible for any reasonable set-up fees or any other initial costs relating to or arising under the Servicing Agreement and neither Borrower nor any other Loan Party shall be responsible for payment of the regular monthly master servicing fee or trustee fee due to Servicer or the trustee under the Servicing Agreement or any fees or expenses required to be borne by Servicer.
Appears in 3 contracts
Samples: Lease Agreement (Ashford Hospitality Trust Inc), Mezzanine a Loan Agreement (Ashford Hospitality Trust Inc), Mezzanine B Loan Agreement (Ashford Hospitality Trust Inc)
Delegation of Servicing. At the option of Lender, the Loan may be serviced by one or more servicers (each a, “Servicer”) selected by Lender and Lender may delegate all or any portion of its responsibilities under this Agreement and the other Loan Documents to such servicer or servicers pursuant to a servicing agreement between Lender and such servicer (a “Servicing Agreement”). Borrower shall be responsible for any reasonable set-up fees or any other initial costs relating to or arising under the Servicing Agreement and neither Borrower nor any other Loan Party shall be responsible for payment of the regular monthly master servicing fee or trustee fee due to Servicer or the trustee under the Servicing Agreement or any fees or expenses required to be borne by Servicer.. 00000000.0.XXXXXXXX 140
Appears in 1 contract
Samples: Mezzanine C Loan Agreement (Ashford Hospitality Trust Inc)
Delegation of Servicing. At the option of Lender, the Loan may be serviced by one or more servicers (each a, “Servicer”) selected by Lender and Lender may delegate all or any portion of its responsibilities under this Agreement and the other Loan Documents to such servicer or servicers pursuant to a servicing agreement between Lender and such servicer (a “Servicing Agreement”). Borrower shall be responsible for any reasonable set-up fees or any other initial costs relating to or arising under the Servicing Agreement and neither Borrower nor any other Loan Party shall be responsible for payment of the regular monthly master servicing fee or trustee fee due to Servicer or the trustee under the Servicing Agreement or any fees or expenses required to be borne by Servicer.. 00000000.0.XXXXXXXX 144
Appears in 1 contract
Samples: Mezzanine D Loan Agreement (Ashford Hospitality Trust Inc)
