Common use of Loan Asset Rating Update Clause in Contracts

Loan Asset Rating Update. The Servicer shall cause the Borrower to, or shall on the Borrower’s behalf, update the Xxxxx’x Rating of each Loan Asset included in the Collateral Portfolio whose Xxxxx’x Rating is determined pursuant to clause (iv) of the definition thereof within 12 months of the last rating estimate for each such Loan Asset. The Servicer shall promptly, upon receipt of written notice or upon actual knowledge of a Responsible Officer of the Servicer, notify the Agent in writing if at any time the Xxxxx’x Rating of any Loan Asset included in the Collateral Portfolio has been, or is known will be, changed or withdrawn. The Agent will provide each Lender with a copy of any such notice promptly upon receipt thereof.

Loan Asset Rating Update. The Borrower (or the Servicer shall cause the Borrower to, or shall on behalf of the Borrower’s behalf, ) shall update the Xxxxx’x Rating of each Loan Asset included in the Collateral Portfolio whose Xxxxx’x Rating is determined pursuant to clause (iv) of the definition thereof within 12 months of the last rating estimate for each such Loan Asset. The Servicer Borrower shall promptly, upon receipt of written notice or upon actual knowledge of a Responsible Officer of the ServicerBorrower, notify the Agent in writing if at any time the Xxxxx’x Rating of any Loan Asset included in the Collateral Portfolio has been, or is known will be, changed or withdrawn. The Agent will provide each Lender with a copy of any such notice promptly upon receipt thereof.

Loan Asset Rating Update. The Servicer shall cause the Borrower to, or shall on the Borrower’s behalf, update the Xxxxx’x Rating of each Loan Asset included in the Collateral Portfolio whose Xxxxx’x Rating is determined pursuant to clause (iv) of the definition thereof within 12 months of the last rating estimate for each such Loan Asset. The Servicer shall promptly, upon receipt of written notice or upon actual knowledge of a Responsible Officer of the Servicer, notify the Agent in writing if at any time the Xxxxx’x Rating of any Loan Asset included in the Collateral Portfolio has been, or is known will be, changed or withdrawn. The Agent will provide each Lender with a copy of any such notice promptly upon receipt thereof.Reserved.