Delivery and Possession of Servicing Files. On or before the related Servicing Transfer Date, the Owner shall deliver or cause to be delivered to the Master Servicer (a) a Servicing File with respect to each Mortgage Loan; and (b) the amounts, if any, received by the Owner representing Escrow Payments previously made by the Borrowers. The Master Servicer shall promptly acknowledge receipt of the Servicing File and Escrow Payments for the Mortgage Loans and shall promptly deposit such Escrow Payments in the Escrow Accounts established pursuant to this Agreement. The contents of each Servicing File delivered to the Master Servicer shall be held by the Master Servicer for the benefit of the Owner as the owner thereof; the Master Servicer’s possession of the contents of each Servicing File so delivered is for the sole purpose of servicing the related Mortgage Loan; and such possession by the Master Servicer shall be in a custodial capacity only. The Master Servicer shall release its custody of the contents of any Servicing File only in accordance with written instructions from the Owner, and upon request of the Owner, the Master Servicer shall deliver to the Owner the Servicing File or a copy of any document contained therein; provided, however, that if the Master Servicer is unable to perform its Loan Servicing obligations with respect to the related Mortgage Loan after any such release or delivery of the Servicing File, then the Master Servicer shall not be liable to the Owner or any third party while the related Servicing File is not in the Master Servicer’s possession for any inability of the Master Servicer to perform any such obligation hereunder and Master Servicer may terminate this Agreement with respect to such Mortgage Loan immediately upon written notice to the Owner.
Delivery and Possession of Servicing Files. The parties acknowledge that KRECM did previously have possession of or control over, the Subservicing Files. KRECM shall on the Effective Date, transfer to the Subservicer electronically each of the servicing files relating to the Mortgage Loans in accordance with the Transfer Instructions. Upon receipt, the Subservicer shall acknowledge possession of the Subservicing Files. The contents of each Subservicing File are and shall be held in trust by the Subservicer for the benefit of the Trust as the owner thereof; the Subservicer’s possession of the contents of each Subservicing File is for the sole purpose of servicing the related Mortgage Loan; and such possession by the Subservicer shall be in a custodial capacity only. The Subservicer shall release its custody of the contents of any Subservicing File only in accordance with written instructions from KRECM, and upon request of KRECM, the Subservicer shall deliver to KRECM the requested Subservicing File or an electronic copy (in a format reasonably acceptable to KRECM) of any document contained therein. In addition, KRECM shall also complete the Subservicer’s standard electronic data transfer template for each Mortgage Loan and provide such electronic data transfer template to Subservicer on the Effective Date to enable the Subservicer to board the Mortgage Loans to its servicing system.
Delivery and Possession of Servicing Files. On or before the applicable Servicing Transfer Date, the Issuer (or the Collateral Manager on behalf of the Issuer) shall deliver or cause to be delivered to the Servicer (i) a Servicing File with respect to each Commercial Real Estate Loan; (ii) the amounts, if any, received by the Issuer representing Escrow Payments previously made by the Obligors; and (iii) if such Servicing Transfer Date is not the Closing Date, the related Subsequent Transfer Instrument including the related amount of Retained Interest, if any. The Servicer shall promptly acknowledge receipt of the Servicing File and Escrow Payments and shall promptly deposit such Escrow Payments in the Escrow Accounts established pursuant to this Agreement. The contents of each Servicing File delivered to the Servicer are and shall be held in trust by the Servicer on behalf of the Issuer for the benefit of the Relevant Parties in Interest. The Servicer’s possession of the contents of each Servicing File so delivered shall be for the sole purpose of servicing the related Commercial Real Estate Loan and such possession by the Servicer shall be in a custodial capacity only. The Servicer shall release its custody of the contents of any Servicing File only in accordance with written instructions from the Issuer (or the Collateral Manager acting on behalf of the Issuer), and upon written request of the Issuer (or the Collateral Manager acting on behalf of the Issuer), the Servicer shall deliver to the Issuer, or its nominee, the Servicing File or a copy of any document contained therein in accordance with such written requests; provided, however, that if the Servicer is unable to perform its Servicing obligations with respect to the related Commercial Real Estate Loan as a result of any such release or delivery of the Servicing File, then the Servicer shall not be liable, while the related Servicing File is not in the Servicer’s possession, for any failure to perform any obligation hereunder with respect to the related Commercial Real Estate Loan.
Delivery and Possession of Servicing Files. The Primary Servicer hereby acknowledges receipt of the Primary Servicing Files. The contents of each Primary Servicing File delivered to the Primary Servicer are and shall be held in trust by the Primary Servicer for the benefit of the Trust Fund as the owner thereof; the Primary Servicer's possession of the contents of each Primary Servicing File so delivered is for the sole purpose of servicing the related Mortgage Loan; and such possession by the Primary Servicer shall be in a custodial capacity only. The Primary Servicer shall release its custody of the contents of any Primary Servicing File only in accordance with written instructions from the Master Servicer, and upon the reasonable request of the Master Servicer, the Primary Servicer shall deliver to the Master Servicer the Primary Servicing File or a copy of any document contained therein.
Delivery and Possession of Servicing Files. (a) Owner shall deliver or cause to be delivered to Servicer (i) a Servicing File with respect to each Serviced Loan, and (ii) the amounts, if any, received by Owner representing Escrow Payments previously made by Borrowers. The contents of each Servicing File delivered to Servicer are and shall be held in trust by Servicer for the benefit of Owner as the owner thereof. Servicer’s possession of each Servicing File is for the sole purpose of servicing the related Serviced Loan; and to the extent it has received originals from the Custodian, such possession by Servicer shall be in a custodial capacity only. Servicer shall release its custody of the contents of any Servicing File only in accordance with written instructions from Owner. At Owner’s request, Servicer shall deliver to Owner the Servicing File or a copy of any document contained therein; but if Servicer is unable to perform its Loan Servicing obligations with respect to the related Serviced Loan after any such release or delivery of one or more documents in the Servicing File, then Servicer’s responsibilities for Loan Servicing with respect to such Serviced Loan may be terminated immediately by Servicer without penalty upon Owner’s failure to deliver such Servicing File document(s) to Servicer within ten (10) Business Days after the date upon which written notice of such inability to perform Loan Servicing obligations is given to Owner by Servicer, and Servicer shall have no obligation to service such Serviced Loan (other than to accept funds and to report material events to Owner) during such ten (10) Business Day period or until the return of the Servicing File document(s), whichever is earlier. Any cost or expense incurred by Servicer pursuant to this Section 3.05 shall be paid as a Servicing Expense.
(b) Owner acknowledges and agrees that Servicer is not holding any original Serviced Loan Documents except to the extent required in connection with the servicing of the Serviced Loans and that otherwise the Custodian is holding all such original Serviced Loan Documents on behalf of Owner. Owner acknowledges that it shall, at all times during the term of this Agreement, be the responsibility of the Custodian to maintain the originals of all Serviced Loan Documents. Servicer may from time to time request the release to Servicer of any such documents held by the Custodian to the extent needed in connection with its servicing of a Serviced Loan, and Servicer shall return to the Custodian any such doc...
Delivery and Possession of Servicing Files. On or before the applicable Servicing Transfer Date, the Issuer (or the Collateral Manager acting on behalf of the Issuer) shall deliver or cause to be delivered to the Servicer (i) a Servicing File with respect to each Commercial Real Estate Loan; (ii) the amounts, if any, received by the Issuer representing Escrow Payments previously made by the Obligors and (iii) if such Servicing Transfer Date is not the Closing Date, the related subsequent transfer instrument including the related amount of Retained Interest, if any. The Servicer shall promptly acknowledge receipt of the Servicing File and Escrow Payments and shall promptly deposit such Escrow Payments in the Escrow Accounts established pursuant to this Agreement. The contents of each Servicing File delivered to the Servicer are and shall be held in trust by the Servicer on behalf of the Issuer for the benefit of the Relevant Parties in Interest. The Servicer’s possession of the contents of each Servicing File so delivered shall be for the sole purpose of servicing the related Commercial Real Estate Loan and such possession by the Servicer shall be in a custodial capacity only. The Servicer shall release its custody of the contents of any Servicing File only in accordance with written instructions from the Issuer (or the Collateral Manager acting on behalf of the Issuer), and upon request of the Issuer (or the Collateral Manager acting on behalf of the Issuer), the Servicer shall deliver to the Issuer, or its nominee, the Servicing File or a copy of any document contained therein; provided, however, that if the Servicer is unable to perform its Servicing obligations with respect to the related Commercial Real Estate Loan as a result of any such release or delivery of the Servicing File, then the Servicer shall not be liable, while the related Servicing File is not in the Servicer’s possession, for any failure to perform any obligation hereunder with respect to the related Commercial Real Estate Loan.
Delivery and Possession of Servicing Files. In connection with the execution of this Agreement, the Servicer shall acknowledge receipt of the Servicing File and Escrow Payments for the Loan Assets and shall promptly deposit, or cause to be deposited, such Escrow Payments in the Escrow Accounts established pursuant to this Agreement. The contents of each Servicing File shall be held in trust by the Servicer for the benefit of the Owner as the owner thereof; the Servicer’s possession of the contents of each Servicing File is for the sole purpose of servicing the related Loan Asset; and such possession by the Servicer shall be in a custodial capacity only. The Servicer shall release its custody of the contents of any Servicing File only in accordance with written instructions from the Owner and, upon request of the Owner, the Servicer shall deliver to the Owner the Servicing File or a copy of any document contained therein; provided, however, that if the Servicer is unable to perform its Loan Servicing obligations with respect to the related Loan Asset after any such release or delivery of the Servicing File, then the Servicer’s responsibilities for Loan Servicing with respect to such Loan Asset may be terminated immediately by the Servicer upon the failure of the Owner to deliver such Servicing File to the Servicer within two Business Days after the date upon which written notice of such inability to perform Loan Servicing obligations shall have been given to the Owner by the Servicer.
Delivery and Possession of Servicing Files. The Subservicer hereby acknowledges possession of the Subservicing Files and acknowledges and agrees that the Master Servicer has never previously had possession of or control over, and therefore makes no warranty or representation as to the contents or completeness of, the Subservicing Files. The contents of each Subservicing File are and shall be held in trust by the Subservicer for the benefit of the Trust as the owner thereof; the Subservicer’s possession of the contents of each Subservicing File is for the sole purpose of servicing the related Mortgage Loan; and such possession by the Subservicer shall be in a custodial capacity only. The Subservicer shall release its custody of the contents of any Subservicing File only in accordance with written instructions from the Master Servicer, and upon request of the Master Servicer, the Subservicer shall deliver to the Master Servicer the requested Subservicing File or an electronic copy (in a format reasonably acceptable to the Master Servicer) of any document contained therein.
Delivery and Possession of Servicing Files. The Subservicer hereby acknowledges receipt of the Subservicing File. The contents of the Subservicing File delivered to the Subservicer are and shall be held in trust by the Subservicer for the benefit of the Trust Fund as the owner thereof; the Subservicer's possession of the contents of the Subservicing File so delivered is for the sole purpose of servicing the Mortgage Loan; and such possession by the Subservicer shall be in a custodial capacity only. The Subservicer shall release its custody of the contents of the Subservicing File only in accordance with written instructions from the Master Servicer, and upon the reasonable request of the Master Servicer, the Subservicer shall deliver to the Master Servicer the Subservicing File or a copy of any document contained therein.
Delivery and Possession of Servicing Files. The Subservicer hereby acknowledges possession of the Subservicing Files and acknowledges and agrees that the Master Servicer has never previously had possession of or control over, and therefore makes no warranty or representation as to the contents or completeness of, the Subservicing Files. The contents of each Subservicing File are and shall be held in a custodial capacity by the Subservicer for and on behalf of the Trustee and the Certificateholders (or the holder of any Serviced Companion Mortgage Loan, as applicable); the Subservicer's possession of the contents of each Subservicing File is for the sole purpose of servicing the related Mortgage Loan and any related Serviced Companion Mortgage Loans; and such possession by the Subservicer shall be in a custodial capacity only. The Subservicer shall release its custody of the contents of any Subservicing File only in accordance with written instructions from the Master Servicer or in accordance with the PSA's grant (if any) to the Master Servicer of authority to release the Servicing File under the PSA.
