Common use of (g) Clause in Contracts

(g). The Primary Servicer shall establish a collection account (hereinafter the “Primary Servicer Serviced Whole Loan Collection Account”), meeting all of the requirements of the Serviced Whole Loan Collection Account, and references to the Serviced Whole Loan Collection Account shall be references to such Primary Servicer Serviced Whole Loan Collection Account. The creation of any Primary Servicer Serviced Whole Loan Collection Account shall be evidenced by a certification in the form of Exhibit F attached hereto and a copy of such certification shall be furnished to the Master Servicer within three (3) days of the Closing Date and thereafter to the Master Servicer upon any transfer of the Primary Servicer Serviced Whole Loan Collection Account. Notwithstanding the second paragraph of Section 3.05(g) of the Pooling and Servicing Agreement, the Primary Servicer shall deposit into the Primary Servicer Serviced Whole Loan Collection Account and include in its Primary Servicer Remittance Amount all Default Interest, any late payment fees, Modification Fees, defeasance fees, Assumption Fees, loan service transaction fees, assumption application fees, consent fees, Prepayment Interest Excess, charges for beneficiary statements or demands, amounts collected for checks returned for insufficient funds and other fees and amounts collected from the Borrowers that constitute additional Servicing Compensation and/or additional Special Servicing Compensation (in each case, other than those to which the Primary Servicer is entitled pursuant to Section 3.01(c)(23) of this Agreement). Any amounts of additional Special Servicing Compensation payable to the Special Servicer shall be remitted to the Special Servicer by the Master Servicer. For purposes of the last paragraph of Section 3.05(g) of the Pooling and Servicing Agreement, the Master Servicer shall direct the Special Servicer to make payment of amounts referenced therein directly to the Primary Servicer for deposit in the Primary Servicer Serviced Whole Loan Collection Account.

Appears in 6 contracts

Samples: Primary Servicing Agreement (GS Mortgage Securities Trust 2015-Gs1), Primary Servicing Agreement (CFCRE 2016-C3 Mortgage Trust), Primary Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-Gc36)

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(g). The Primary Servicer shall establish a collection account (hereinafter the “Primary Servicer Serviced Whole Loan Combination Collection Account”), meeting all of the requirements of the Serviced Whole Loan Combination Collection Account, and references to the Serviced Whole Loan Combination Collection Account shall be references to such Primary Servicer Serviced Whole Loan Combination Collection Account. The creation of any Primary Servicer Serviced Whole Loan Combination Collection Account shall be evidenced by a certification in the form of Exhibit F attached hereto and a copy of such certification shall be furnished to the Master Servicer within three (3) days of the Closing Date and thereafter to the Master Servicer upon any transfer of the Primary Servicer Serviced Whole Loan Combination Collection Account. Notwithstanding the second paragraph of Section 3.05(g) of the Pooling and Servicing Agreement, the Primary Servicer shall deposit into the Primary Servicer Serviced Whole Loan Combination Collection Account and include in its Primary Servicer Serviced Loan Combination Remittance Amount all Default Interest, any late payment fees, Modification Fees, defeasance fees, Assumption Fees, loan service transaction fees, assumption application fees, consent fees, Prepayment Interest Excess, charges for beneficiary statements or demands, amounts collected for checks returned for insufficient funds and other fees and amounts collected from the Borrowers that constitute additional Servicing Compensation and/or additional Special Servicing Compensation (in each case, other than those to which the Primary Servicer is entitled pursuant to Section 3.01(c)(233.01(c)(22) of this Agreement). Any amounts of additional Special Servicing Compensation payable to the Special Servicer shall be remitted to the Special Servicer by the Master Servicer. For purposes of the last paragraph of Section 3.05(g) of the Pooling and Servicing Agreement, the Master Servicer shall direct the Special Servicer to make payment of amounts referenced therein directly to the Primary Servicer for deposit in the Primary Servicer Serviced Whole Loan Combination Collection Account.

Appears in 1 contract

Samples: Primary Servicing Agreement (COMM 2015-Ccre24 Mortgage Trust)

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