Common use of Master Servicer Reports; Account Statements Clause in Contracts

Master Servicer Reports; Account Statements. (a) For each Distribution Date, (i) the Master Servicer shall deliver to the Paying Agent (or with respect to the Serviced Companion Loan, to the holder thereof) on the related Report Date, the Loan Periodic Update File with respect to such Distribution Date, (ii) the Master Servicer shall report to the Paying Agent on the related Advance Report Date, the amount of any P&I Advance to be made by the Master Servicer on the related Master Servicer Remittance Date and (iii) the Master Servicer shall notify the Paying Agent as soon as reasonably possible, but no later than noon, New York City time on the Master Servicer Remittance Date, of the amount of any Principal Payments and Balloon Payments received by the Business Day immediately preceding the Master Servicer Remittance Date, which amounts were not reported pursuant to clause (i) or (ii) immediately above. The Special Servicer is required to provide, in the form required under Section 9.32, all information relating to Specially Serviced Mortgage Loans in order for the Master Servicer to satisfy its duties in this Section 8.11 not later than one Business Day prior to the date the Master Servicer is required to distribute any report. The Master Servicer shall be entitled in good faith to rely on and shall have no liability for information provided by third parties, including the Special Servicer or any Other Master Servicer. (b) The Master Servicer shall notify the Trustee and the Paying Agent on or before the Closing Date of the initial location of the Certificate Account and, promptly following any change in location of any Certificate Account, the new location thereof. (c) The Master Servicer shall promptly inform the Special Servicer of the name, account number, location and other necessary information concerning the Certificate Account in order to permit the Special Servicer to make deposits therein.

Master Servicer Reports; Account Statements. (a) For each Distribution Date, (i) the each Master Servicer shall deliver to the Paying Agent (or with respect to the Serviced Companion Loan, to the holder thereof) Trustee on the related Report Date, the Loan Periodic Update File for the related Mortgage Loans with respect to such Distribution Date, and (ii) the Master Servicer shall report to the Paying Agent on the related Advance Report Date, the amount of any P&I Advance to be made by the Master Servicer on the related Master Servicer Remittance Date and (iii) the each Master Servicer shall notify the Paying Agent Trustee as soon as reasonably possible, but no later than noon, New York City time on the Master Servicer Remittance Date, of the amount of any Principal Payments Prepayments and Balloon Payments received that are required to be remitted by the Business Day immediately preceding the such Master Servicer Remittance Date, which amounts were not reported pursuant to clause (i) or (ii) immediately aboveSection 5.2(b). The Special Servicer is required to provide, in the form required under Section 9.32, all information relating to Specially Serviced Mortgage Loans in order for the applicable Master Servicer to satisfy its duties in this Section 8.11 not later than one Business Day prior to the date the such Master Servicer is required to distribute any report. The applicable Master Servicer shall have no obligation to provide such information or reports set forth in clauses (ii) and (iii) above to the extent that it has not received such information or reports from the Special Servicer; provided, however, that such Master Servicer shall not be relieved of its obligation to provide other information or reports as set forth in this Section 8.11(a). Each Master Servicer shall be entitled in good faith to rely on and shall have no liability for information provided by third parties, including the Special Servicer or any Other Master ServicerServicers. (b) The Each Master Servicer shall notify the Trustee and the Paying Agent on or before the Closing Date of the initial location of the applicable Certificate Account Accounts and, promptly following any change in location of any Certificate Account, the new location thereof. (c) The Each Master Servicer shall promptly inform the applicable Special Servicer of the name, account number, location and other necessary information concerning the applicable Certificate Account Accounts in order to permit the such Special Servicer to make deposits therein. (d) [Reserved] (e) Each Master Servicer shall deliver a copy of any reports or information delivered to the Trustee pursuant to subsection (a) or subsection (b) of this Section 8.11 to the Depositor, the applicable Special Servicer, the Operating Adviser and each Rating Agency, in each case upon request by such Person and only to the extent such reports and information are not otherwise required to be delivered to such Person under any provision of this Agreement. (f) Notwithstanding any provision of this Agreement to the contrary, the Master Servicers shall not have any obligation to deliver any statement, notice or report that is then made available on such Master Servicer's website or the Trustee's Website, provided that it has notified all parties entitled to delivery of such reports, by electronic mail or other notice provided in this Agreement, to the effect that such statements, notices or reports shall thereafter be made available on such website from time to time. (g) Each Master Servicer shall deliver or cause to be delivered to the Trustee the following CMSA Reports with respect to the Mortgage Loans serviced by such Master Servicer (and, if applicable, the related REO Properties) (and, if applicable, the related REO Properties and, to the extent received from the 2007-HQ11 Master Servicer, the Non-Trust-Serviced Pari Passu Loan) providing the required information as of the related Determination Date upon the following schedule: (i) a CMSA Comparative Financial Status Report not later than each Report Date, commencing in May 2007; (ii) a CMSA Operating Statement Analysis Report, the CMSA Financial File and the CMSA NOI Adjustment Worksheet in accordance with Section 8.14 of this Agreement; (iii) a CMSA Servicer Watch List in accordance with and subject to the terms of Section 8.11(h) on each Report Date, commencing in May 2007; (iv) a CMSA Loan Setup File (with respect to the initial Distribution Date only) not later than the Report Date in April 2007; (v) a CMSA Loan Periodic Update File not later than each Report Date commencing in April 2007 (an April 2007 report will be issued by the Master Servicer in the format and with the content as reasonably agreed by the Master Servicer and the Trustee); (vi) a CMSA Property File on each Report Date, commencing in May 2007; (vii) a CMSA Delinquent Loan Status Report on each Report Date, commencing in May 2007; (viii) a CMSA Historical Loan Modification and Corrected Mortgage Loan Report not later than each Report Date, commencing in May 2007; (ix) a CMSA Historical Liquidation Report not later than each Report Date, commencing in May 2007 and (x) a CMSA REO Status Report on each Report Date, commencing in May 2007. In the case of the CMSA Property File, the CMSA Comparative Financial Status Reports, the quarterly CMSA Operating Statement Analysis Report and quarterly CMSA Financial File, the applicable Master Servicer will only be required to deliver such reports at the level of frequency at which the related Mortgagor is required to deliver the applicable financial information to the lender (which generally is annually). The information that pertains to Specially Serviced Mortgage Loans and REO Properties reflected in such reports shall be based solely upon the reports delivered by the applicable Special Servicer to the applicable Master Servicer in writing and on a computer readable medium reasonably acceptable to the Master Servicers and such Special Servicer on the date and in the form required under Section 9.32. The information that pertains to the Non-Trust-Serviced Pari Passu Loan reflected in such reports shall be based solely upon the reports delivered by the applicable Other Master Servicer. The applicable Master Servicers' responsibilities under this Section 8.11(g) with respect to REO Mortgage Loans and Specially Serviced Mortgage Loans shall be subject to the satisfaction of the applicable Special Servicer's obligations under Section 9.32. Solely with respect to the Non-Trust-Serviced Pari Passu Loan, the General Master Servicer's responsibilities under this Section 8.11(g) shall be subject to the performance of the 2007-HQ11 Master Servicer and the 2007-HQ11 Special Servicer of their respective reporting obligations to the General Master Servicer under the 2007-HQ11 Pooling and Servicing Agreement. (h) If a Master Servicer, in accordance with the Servicing Standard, seeks to effect a drawing on any letter of credit or debt service reserve account under which the Trust has rights as the holder of any Mortgage Loan for purposes other than payment or reimbursement of amounts contemplated in and by a reserve or escrow agreement, such Master Servicer shall deliver notice thereof to the Special Servicer, the Operating Adviser and the Trustee, which notice shall set forth (i) the unpaid Principal Balance of such Mortgage Loan immediately before and immediately after the drawing, and (ii) a brief description of the circumstances that in such Master Servicer's good faith and reasonable judgment and in compliance with the Servicing Standard will entitle such Master Servicer to make such drawing. The applicable Special Servicer shall have five Business Days to consent to such drawing, which consent may be communicated by facsimile transmission or e-mail and shall not be unreasonably withheld. If the Special Servicer does not respond within such five Business Day period, consent shall be deemed to have been given.

Master Servicer Reports; Account Statements. (a) For each Distribution Date, (i) the each Master Servicer shall deliver to the Paying Agent (or with respect to the Serviced Companion Loan, to the holder thereof) on the related Report Date, the Loan Periodic Update File with respect to such Distribution Date, (ii) the each Master Servicer shall report to the Paying Agent on the related Advance Report Date, the amount of any P&I Advance to be made by the such Master Servicer on the related Master Servicer Remittance Date and (iii) the each Master Servicer shall notify the Paying Agent as soon as reasonably possible, but no later than noon, New York City time on the Master Servicer Remittance Date, of the amount of any Principal Payments and Balloon Payments received by the Business Day immediately preceding the Master Servicer Remittance Date, which amounts were not reported pursuant to clause (i) or (ii) immediately above. The Each Special Servicer is required to provide, in the form required under Section 9.32, all information relating to Specially Serviced Mortgage Loans in order for the applicable Master Servicer to satisfy its duties in this Section 8.11 not later than one Business Day prior to the date the such Master Servicer is required to distribute any report. The Each Master Servicer shall be entitled in good faith to rely on and shall have no liability for information provided by third parties, including the Special Servicer or any Other Master ServicerServicers. (b) The Each Master Servicer shall notify the Trustee and the Paying Agent on or before the Closing Date of the initial location of the applicable Certificate Account Accounts and, promptly following any change in location of any Certificate Account, the new location thereof. (c) The Each Master Servicer shall promptly inform the applicable Special Servicer of the name, account number, location and other necessary information concerning the applicable Certificate Account Accounts in order to permit the such Special Servicer to make deposits therein.

Master Servicer Reports; Account Statements. (a) For each Distribution Date, (i) the Master Servicer shall deliver to the Paying Agent (or with respect to the Serviced Companion Loan, to the holder thereof) on the related Report Date, the Loan Periodic Update File with respect to such Distribution Date, (ii) the Master Servicer shall report to the Paying Agent on the related Advance Report Date, the amount of any P&I Advance to be made by the Master Servicer on the related Master Servicer Remittance Date and (iii) the Master Servicer shall notify the Paying Agent as soon as reasonably possible, but no later than noon, New York City time on the Master Servicer Remittance Date, of the amount of any Principal Payments and Balloon Payments received by the Business Day immediately preceding the Master Servicer Remittance Date, which amounts were not reported pursuant to clause (i) or (ii) immediately above. The Special Servicer is required to provide, in the form required under Section 9.32, all information relating to Specially Serviced Mortgage Loans in order for the Master Servicer to satisfy its duties in this Section 8.11 not later than one Business Day prior to the date the Master Servicer is required to distribute any report. The Master Servicer shall be entitled in good faith to rely on and shall have no liability for information provided by third parties, including the Special Servicer or any Other Master Servicer. (b) The Master Servicer shall notify the Trustee and the Paying Agent on or before the Closing Date of the initial location of the applicable Certificate Account Accounts and, promptly following any change in location of any Certificate Account, the new location thereof. (c) The Master Servicer shall promptly inform the Special Servicer of the name, account number, location and other necessary information concerning the applicable Certificate Account Accounts in order to permit the Special Servicer to make deposits therein.