Common use of General Servicing Provision Clause in Contracts

General Servicing Provision. The Master Servicer hereby agrees to service and administer the Qualified Loans sold pursuant to this Master Agreement in accordance with the terms of this Master Agreement, applicable law and the terms of the Qualified Loans. In connection with such servicing and administration, the Master Servicer shall, consistent with and subject to all other servicing-related provisions in this Master Agreement, have full power and authority, acting alone and/or through sub-servicers, to do or cause to be done any and all things, in connection with such servicing and administration, that the Master Servicer may deem necessary or desirable and consistent with the terms of this Master Agreement including, but not limited to, the power and authority, subject to the terms hereof, (a) to execute and deliver, on behalf of the Purchaser, customary consents or waivers and other instruments and documents, (b) to consent to transfers of any Mortgaged Property and assumptions of the Mortgage Notes and related Mortgages (but only in the manner provided in this Master Agreement), (c) to collect any Other Insurance Proceeds and other Cash Liquidation amounts, and (d) with Fxxxxx Mac’s prior consent, to effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing any Qualified Loan. In servicing and administering the Qualified Loans, the Master Servicer shall employ procedures in accordance with the Customary Servicing Procedures of the Master Servicer. The Master Servicer will exercise the same care in servicing the Qualified Loans that it exercises in servicing Qualified Loans to the same Borrower held in the Master Servicer's portfolio. The Master Servicer will act in the best interest of the Purchaser in servicing Qualified Loans. Without limiting the generality of the foregoing, the Master Servicer, in its own name or in the name of the Purchaser, is hereby authorized and empowered by the Purchaser, when the Master Servicer believes it appropriate in its reasonable judgment, to execute and deliver on behalf of the Purchaser any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Qualified Loans and with respect to the related Mortgaged Properties. The Master Servicer shall prepare and deliver to the Purchaser such documents requiring execution and delivery by it as is necessary or appropriate to enable the Master Servicer to service and administer the Qualified Loans to the extent that the Master Servicer is not permitted to execute and deliver such documents pursuant to the preceding sentence. In addition to the foregoing, the Purchaser shall provide a power of attorney or other appropriate authorization as shall be necessary or desirable, in the Master Servicer's judgment, to enable the Master Servicer to act as the agent of the Purchaser as the mortgagee under each Mortgage and as the secured party under each Additional Collateral Document. Upon receipt of such documents, the Purchaser, upon the direction of the Master Servicer, shall promptly execute such documents and deliver them to the Master Servicer.

General Servicing Provision. The Master Servicer hereby agrees to service and administer the Qualified Loans sold pursuant to this Master Agreement in accordance with the terms of this Master Agreement, applicable law and the terms of the Qualified Loans. In connection with such servicing and administration, the Master Servicer shall, consistent with and subject to all other servicing-related provisions in this Master Agreement, have full power and authority, acting alone and/or through sub-servicers, to do or cause to be done any and all things, in connection with such servicing and administration, that the Master Servicer may deem necessary or desirable and consistent with the terms of this Master Agreement including, but not limited to, the power and authority, subject to the terms hereof, (a) to execute and deliver, on behalf of the Purchaser, customary consents or waivers and other instruments and documents, (b) to consent to transfers of any Mortgaged Property and assumptions of the Mortgage Notes and related Mortgages (but only in the manner provided in this Master Agreement), (c) to collect any Other Insurance Proceeds and other Cash Liquidation amounts, and (d) with Fxxxxx Xxxxxx Mac’s prior consent, to effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing any Qualified Loan. In servicing and administering the Qualified Loans, the Master Servicer shall employ procedures in accordance with the Customary Servicing Procedures of the Master Servicer. The Master Servicer will exercise the same care in servicing the Qualified Loans that it exercises in servicing Qualified Loans to the same Borrower held in the Master Servicer's ’s portfolio. The Master Servicer will act in the best interest of the Purchaser in servicing Qualified Loans. Without limiting the generality of the foregoing, the Master Servicer, in its own name or in the name of the Purchaser, is hereby authorized and empowered by the Purchaser, when the Master Servicer believes it appropriate in its reasonable judgment, to execute and deliver on behalf of the Purchaser any and all instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Qualified Loans and with respect to the related Mortgaged Properties. The Master Servicer shall prepare and deliver to the Purchaser such documents requiring execution and delivery by it as is necessary or appropriate to enable the Master Servicer to service and administer the Qualified Loans to the extent that the Master Servicer is not permitted to execute and deliver such documents pursuant to the preceding sentence. In addition to the foregoing, the Purchaser shall provide a power of attorney or other appropriate authorization as shall be necessary or desirable, in the Master Servicer's ’s judgment, to enable the Master Servicer to act as the agent of the Purchaser as the mortgagee under each Mortgage and as the secured party under each Additional Collateral Document. Upon receipt of such documents, the Purchaser, upon the direction of the Master Servicer, shall promptly execute such documents and deliver them to the Master Servicer.