Duties of the Special Servicers. (a) Subject to the express provisions of this Agreement, for and on behalf of the Certificateholders and the Trustee, the applicable Special Servicer shall service the Specially Serviced Mortgage Loans and manage the related REO Properties in accordance with the provisions of this Agreement and the Servicing Standard (subject to the servicing of the Non-Trust-Serviced Pari Passu Loan by the 2007-HQ11 Master Servicer and the 2007-HQ11 Special Servicer in accordance with the 2007-HQ11 Pooling and Servicing Agreement). Certain of the provisions of this Article IX make explicit reference to their non-applicability to the Non-Trust-Serviced Pari Passu Loan; notwithstanding such explicit references, references to "Mortgage Loans," "Specially Serviced Mortgage Loans," "REO Mortgage Loan," "REO Property," "Rehabilitated Mortgage Loan" and "Mortgaged Property" contained in this Article IX, unless otherwise specified, shall be construed to exclude the Non-Trust-Serviced Pari Passu Loan and any related real property (but any other terms that are defined in Article I and used in this Article IX shall be construed according to such definitions without regard to this sentence). The General Special Servicer shall be the Special Servicer with respect to all the Mortgage Loans and other assets of the Trust other than the Co-op Trust Assets and the Non-Trust Serviced Loan Group and, as such, shall service and administer such of the assets of the Trust (other than the Co-op Trust Assets and the Non-Trust Serviced Loan Group) as constitute Specially Serviced Mortgage Loans and REO Properties and shall render such incidental services as are required of such Special Servicer with respect to such of the assets of the Trust (other than the Co-op Trust Assets and the Non-Trust Serviced Loan Group) as constitute assets that are not Specially Serviced Mortgage Loans or REO Properties. The Co-op Special Servicer shall be the Special Servicer with respect to the Co-op Trust Assets and, as such, shall service and administer such of the Co-op Trust Assets as constitute Specially Serviced Mortgage Loans or REO Properties and shall render such incidental services as are required of such Special Servicer with respect to such of the Co-op Trust Assets as are not Specially Serviced Mortgage Loans or REO Properties.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq13), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq13), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq13)
Duties of the Special Servicers. (a) Subject to the express provisions of this Agreement, for and on behalf of the Certificateholders (and, solely as it relates to a Serviced Loan Group, for the benefit of each holder of a related Serviced Companion Loan) and the Trustee, the applicable Special Servicer shall service the Specially Serviced Mortgage Loans and manage the related REO Properties in accordance with the provisions of this Agreement and the Servicing Standard (subject to the servicing of the Non-Trust-Serviced Pari Passu Loan by the 2007-HQ11 Master Servicer and the 2007-HQ11 Special Servicer in accordance with the 2007-HQ11 Pooling and Servicing Agreement)Standard. Certain of the provisions of this Article IX make explicit reference to their non-applicability to Mortgage Loans and the Non-Trust-Serviced Pari Passu LoanCompanion Loans; notwithstanding such explicit references, references to "Mortgage Loans," "Specially Serviced Mortgage Loans," "REO Mortgage Loan," "REO Property," "Rehabilitated Mortgage Loan" and "Mortgaged Property" contained in this Article IX, unless otherwise specified, shall be construed to exclude refer also to the Non-Trust-related Serviced Pari Passu Companion Loan and any related real property (but any other terms that are defined in Article I and used in this Article IX shall be construed according to such definitions without regard to this sentence). The General Special Servicer shall be the Special Servicer with respect to all the Mortgage Loans and other assets of the Trust other than the Co-op Trust Assets and the Non-Trust Serviced Loan Group and, as such, shall service and administer such of the assets of the Trust (other than the Co-op Trust Assets and the Non-Trust Serviced Loan GroupAssets) as constitute Specially Serviced Mortgage Loans and REO Properties and shall render such incidental services as are required of such Special Servicer with respect to such of the assets of the Trust (other than the Co-op Trust Assets and the Non-Trust Serviced Loan GroupAssets) as constitute assets that are not Specially Serviced Mortgage Loans or REO Properties. The Co-op Special Servicer shall be the Special Servicer with respect to the Co-op Trust Assets and, as such, shall service and administer such of the Co-op Trust Assets as constitute Specially Serviced Mortgage Loans or REO Properties and shall render such incidental services as are required of such Special Servicer with respect to such of the Co-op Trust Assets as are not Specially Serviced Mortgage Loans or REO Properties.
(b) Each Special Servicer shall cooperate with the applicable Master Servicer and provide the applicable Master Servicer with the information reasonably requested by such Master Servicer, in writing, to the extent required to allow such Master Servicer to perform its servicing obligations with respect to the Specially Serviced Mortgage Loans hereunder; provided, however, that (i) a Special Servicer shall not be required to produce any ad hoc reports or incur any unusual expense or effort in connection therewith and (ii) if a Special Servicer elects to provide such ad hoc reports requested by the applicable Master Servicer, such Special Servicer may require the applicable Master Servicer to pay a reasonable fee to cover the costs of the preparation thereof. A Special Servicer's obligations with respect to the servicing of any Specially Serviced Mortgage Loan and any related REO Properties shall terminate when such Specially Serviced Mortgage Loan has become a Rehabilitated Mortgage Loan, unless and until another Servicing Transfer Event with respect to such Rehabilitated Mortgage Loan occurs.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Iq11)
Duties of the Special Servicers. (a) Subject to the express provisions of this Agreement, for and on behalf of the Certificateholders (and, solely as it relates to a Serviced Loan Group, for the benefit of each holder of a related Serviced Companion Loan) and the Trustee, the applicable Special Servicer shall service the Specially Serviced Mortgage Loans and manage the related REO Properties in accordance with the provisions of this Agreement and the Servicing Standard (subject to the servicing of the Non-a Non Trust-Serviced Pari Passu Loan by the 2007-HQ11 related Other Master Servicer and the 2007-HQ11 related Other Special Servicer in accordance with the 2007-HQ11 related Other Pooling and Servicing Agreement). Certain of the provisions of this Article IX make explicit reference to their non-applicability to Mortgage Loans and the Serviced Companion Loans; notwithstanding such explicit references, references to "Mortgage Loans" contained in this Article IX, unless otherwise specified, shall be construed to refer also to the related Serviced Companion Loan (but any other terms that are defined in Article I and used in this Article IX shall be construed according to such definitions without regard to this sentence). Certain of the provisions of this Article IX make explicit reference to their non applicability to the Non-Non Trust-Serviced Pari Passu Loan; notwithstanding such explicit references, references to "Mortgage Loans," "Specially Serviced Mortgage Loans," "REO Mortgage Loan," "REO Property," "Rehabilitated Mortgage Loan" and "Mortgaged Property" contained in this Article IX, unless otherwise specified, shall be construed to exclude the Non-Non Trust-Serviced Pari Passu Loan and any related real property (but any other terms that are defined in Article I and used in this Article IX shall be construed according to such definitions without regard to this sentence). The General Special Servicer shall be the Special Servicer with respect to all the Mortgage Loans (other than the NCB, FSB Loans) and other assets of the Trust other than the Non-Trust Serviced Loan Groups and the Co-op Trust Assets and the Non-Trust Serviced Loan Group and, as such, shall service and administer such of the assets of the Trust (other than the Co-op Trust Assets and the Non-Trust Serviced Loan GroupGroups and the Co-op Trust Assets) as constitute Specially Serviced Mortgage Loans and REO Properties and shall render such incidental services as are required of such Special Servicer with respect to such of the assets of the Trust (other than the Co-op Trust Assets and the Non-Trust Serviced Loan GroupGroups and the Co-op Trust Assets) as constitute assets that are not Specially Serviced Mortgage Loans or REO Properties. The Co-op Special Servicer shall be the Special Servicer with respect to the Co-op Trust Assets and, as such, shall service and administer such of the Co-op Trust Assets as constitute Specially Serviced Mortgage Loans or REO Properties Property and shall render such incidental services as are required of such Special Servicer with respect to such of the Co-op Trust Assets as constitute assets that are not Specially Serviced Mortgage Loans or REO Properties.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq16)
Duties of the Special Servicers. (a) Subject to the express provisions of this Agreement, for and on behalf of the Certificateholders and the Trustee, the applicable Special Servicer shall service the Specially Serviced Mortgage Loans and manage the related REO Properties in accordance with the provisions of this Agreement and the Servicing Standard (subject to the servicing of the Non-Trust-Serviced Pari Passu Loan by the 2007-HQ11 Master Servicer and the 2007-HQ11 Special Servicer in accordance with the 2007-HQ11 Pooling and Servicing Agreement). Certain of the provisions of this Article IX make explicit reference to their non-applicability to the Non-Trust-Serviced Pari Passu Loan; notwithstanding such explicit references, references to "Mortgage Loans," "Specially Serviced Mortgage Loans," "REO Mortgage Loan," "REO Property," "Rehabilitated Mortgage Loan" and "Mortgaged Property" contained in this Article IX, unless otherwise specified, shall be construed to exclude the Non-Trust-Serviced Pari Passu Loan and any related real property (but any other terms that are defined in Article I and used in this Article IX shall be construed according to such definitions without regard to this sentence)Standard. The General Special Servicer shall be the Special Servicer with respect to all the Mortgage Loans and other assets of the Trust other than the Co-op Trust Assets and the Non-Trust Serviced Loan Group and, as such, shall service and administer such of the assets of the Trust (other than the Co-op Trust Assets and the Non-Trust Serviced Loan GroupAssets) as constitute Specially Serviced Mortgage Loans and REO Properties and shall render such incidental services as are required of such Special Servicer with respect to such of the assets of the Trust (other than the Co-op Trust Assets and the Non-Trust Serviced Loan GroupAssets) as constitute assets that are not Specially Serviced Mortgage Loans or REO Properties. The Co-op Special Servicer shall be the Special Servicer with respect to the Co-op Trust Assets and, as such, shall service and administer such of the Co-op Trust Assets as constitute Specially Serviced Mortgage Loans or REO Properties and shall render such incidental services as are required of such Special Servicer with respect to such of the Co-op Trust Assets as are not Specially Serviced Mortgage Loans or REO Properties.
(b) Each Special Servicer shall cooperate with the applicable Master Servicer and provide the applicable Master Servicer with the information reasonably requested by such Master Servicer, in writing, to the extent required to allow such Master Servicer to perform its servicing obligations with respect to the Specially Serviced Mortgage Loans hereunder; provided, however, that (i) a Special Servicer shall not be required to produce any ad hoc reports or incur any unusual expense or effort in connection therewith and (ii) if a Special Servicer elects to provide such ad hoc reports requested by the applicable Master Servicer, such Special Servicer may require the applicable Master Servicer to pay a reasonable fee to cover the costs of the preparation thereof. A Special Servicer's obligations with respect to the servicing of any Specially Serviced Mortgage Loan and any related REO Properties shall terminate when such Specially Serviced Mortgage Loan has become a Rehabilitated Mortgage Loan, unless and until another Servicing Transfer Event with respect to such Rehabilitated Mortgage Loan occurs.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 IQ10)
Duties of the Special Servicers. (a) Subject to the express provisions of this Agreement, for and on behalf of the Certificateholders and the TrusteeTrustee and, the applicable Special Servicer shall service the Specially Serviced Mortgage Loans and manage the related REO Properties in accordance with the provisions of this Agreement and the Servicing Standard (subject to the servicing of the Non-Trust-Serviced Pari Passu Loan by the 2007-HQ11 Master Servicer and the 2007-HQ11 Special Servicer in accordance with the 2007-HQ11 Pooling and Servicing Agreement). Certain of the provisions of this Article IX make explicit reference to their non-applicability to the Non-Trust-Serviced Pari Passu Loan; notwithstanding such explicit references, references to "Mortgage Loans," "Specially Serviced Mortgage Loans," "REO Mortgage Loan," "REO Property," "Rehabilitated Mortgage Loan" and "Mortgaged Property" contained in this Article IX, unless otherwise specified, shall be construed to exclude the Non-Trust-Serviced Pari Passu Loan and any related real property (but any other terms that are defined in Article I and used in this Article IX shall be construed according to such definitions without regard to this sentence)Standard. The General Special Servicer shall be the Special Servicer with respect to all the Mortgage Loans and other assets of the Trust other than the Co-op Trust Assets and the Non-Trust Serviced Loan Group and, as such, shall service and administer such of the assets of the Trust (other than the Co-op Trust Assets and the Non-Trust Serviced Loan GroupAssets) as constitute Specially Serviced Mortgage Loans and REO Properties and shall render such incidental services as are required of such Special Servicer with respect to such of the assets of the Trust (other than the Co-op Trust Assets and the Non-Trust Serviced Loan GroupAssets) as constitute assets that are not Specially Serviced Mortgage Loans or REO Properties. The Co-op Special Servicer shall be the Special Servicer with respect to the Co-op Trust Assets and, as such, shall service and administer such of the Co-op Trust Assets as constitute Specially Serviced Mortgage Loans or REO Properties and shall render such incidental services as are required of such Special Servicer with respect to such of the Co-op Trust Assets as are not Specially Serviced Mortgage Loans or REO Properties.
(b) Each Special Servicer shall cooperate with the applicable Master Servicer and provide the applicable Master Servicer with the information reasonably requested by such Master Servicer, in writing, to the extent required to allow such Master Servicer to perform its servicing obligations with respect to the Specially Serviced Mortgage Loans hereunder; provided, however, that (i) a Special Servicer shall not be required to produce any ad hoc reports or incur any unusual expense or effort in connection therewith and (ii) if a Special Servicer elects to provide such ad hoc reports requested by the applicable Master Servicer, such Special Servicer may require the applicable Master Servicer to pay a reasonable fee to cover the costs of the preparation thereof. A Special Servicer's obligations with respect to the servicing of any Specially Serviced Mortgage Loan and any related REO Properties shall terminate when such Specially Serviced Mortgage Loan has become a Rehabilitated Mortgage Loan, unless and until another Servicing Transfer Event with respect to such Rehabilitated Mortgage Loan occurs.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 IQ9)
Duties of the Special Servicers. (a) Subject to the express provisions of this Agreement, for and on behalf of the Certificateholders (and, solely as it relates to a Serviced Loan Group, for the benefit of each holder of a related Serviced Companion Loan) and the Trustee, the applicable Special Servicer shall service the Specially Serviced Mortgage Loans and manage the related REO Properties in accordance with the provisions of this Agreement and the Servicing Standard (subject to the servicing of the Non-Non Trust-Serviced Pari Passu Loan by the 20072006-HQ11 PWR14 Master Servicer and the 20072006-HQ11 PWR14 Special Servicer in accordance with the 20072006-HQ11 PWR14 Pooling and Servicing Agreement). Certain of the provisions of this Article IX make explicit reference to their non-applicability to Mortgage Loans and the Serviced Companion Loans; notwithstanding such explicit references, references to "Mortgage Loans" contained in this Article IX, unless otherwise specified, shall be construed to refer also to the related Serviced Companion Loan (but any other terms that are defined in Article I and used in this Article IX shall be construed according to such definitions without regard to this sentence). Certain of the provisions of this Article IX make explicit reference to their non applicability to the Non-Non Trust-Serviced Pari Passu Loan; notwithstanding such explicit references, references to "Mortgage Loans," "Specially Serviced Mortgage Loans," "REO Mortgage Loan," "REO Property," "Rehabilitated Mortgage Loan" and "Mortgaged Property" contained in this Article IX, unless otherwise specified, shall be construed to exclude the Non-Non Trust-Serviced Pari Passu Loan and any related real property (but any other terms that are defined in Article I and used in this Article IX shall be construed according to such definitions without regard to this sentence). The General Special Servicer shall be the Special Servicer with respect to all the Mortgage Loans and other assets of the Trust other than the Co-op Trust Assets and the Non-Trust Serviced Loan Group and the DC Hilton Trust Assets and, as such, shall service xxxxx xervice and administer such of the assets of the Trust (other than the Co-op Trust Assets and the Non-Trust Serviced Loan GroupGroup and the DC Hilton Trust Assets) as constitute Specially constituxx Xxxxxxlly Serviced Mortgage Loans and REO Properties and shall render such incidental services as are required of such Special Servicer with respect to such of the assets of the Trust (other than the Co-op Trust Assets and the Non-Trust Serviced Loan GroupGroup and the DC Hilton Trust Assets) as constitute assets constituxx xxxxxx that are not Specially Serviced Mortgage Loans or REO Properties. The Co-op DC Hilton Special Servicer shall be the Special xxx Xxxxial Servicer with respect to the Co-op DC Hilton Trust Assets and, as such, shall service xxxxx xervice and administer such of the Co-op DC Hilton Trust Assets as constitute Specially constitutx Xxxxxxxly Serviced Mortgage Loans or REO Properties Property and shall render such incidental services as are required of such Special Servicer with respect to such of the Co-op DC Hilton Trust Assets as constitutx xxxxxx that are not Specially Serviced Mortgage Loans or REO Properties.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq15)