Common use of Modifications of Mortgage Loans Clause in Contracts

Modifications of Mortgage Loans. Notwithstanding anything to the contrary in this Agreement, neither the Trustee, the Master Servicer nor the Special Servicer shall permit any modification of any Money Term of a Mortgage Loan or a Specially Serviced Mortgage Loan unless the Trustee and the Master Servicer have received a Nondisqualification Opinion or a ruling to the same effect as a Nondisqualification Opinion from the Internal Revenue Service (at the expense of the party making the request that the Master Servicer or the Special Servicer modify the Mortgage Loan or a Specially Serviced Mortgage Loan) to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Treasury regulation Section 1.860G-2(b) of the Code).

Modifications of Mortgage Loans. Notwithstanding anything to the contrary in this Agreement, neither the Trustee, the Paying Agent, the Master Servicer nor the Special Servicer shall permit any modification of any a Money Term of a Mortgage Loan or a Specially Serviced Mortgage Loan unless (i) the Trustee Trustee, the Special Servicer, Paying Agent and the Master Servicer have received a Nondisqualification Opinion or a ruling to the same effect as a Nondisqualification Opinion from the Internal Revenue Service (at the expense of the party making the request that the Master Servicer or the Special Servicer modify the Mortgage Loan or a Specially Serviced Mortgage Loan) to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Treasury regulation Section 1.860G-2(b) of the Code).-227-

Modifications of Mortgage Loans. Notwithstanding anything to the contrary in this Agreement, neither the Trustee, the Master Servicer nor the Special Servicer shall permit any modification of any Money Term of a Mortgage Loan or a Specially Serviced Mortgage Loan unless (i) the Trustee and the Master Servicer have received a Nondisqualification Opinion or a ruling to the same effect as a Nondisqualification Opinion from the Internal Revenue Service (at the expense of the party making the request that the Master Servicer or the Special Servicer modify the Mortgage Loan or a Specially Serviced Mortgage Loan) to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Treasury regulation Section 1.860G-2(bTreas. Reg. Sec. 1.860G-2(B) of the Code)) or (ii) such modification meets the requirements set forth in Sections 8.15 or 9.5.

Modifications of Mortgage Loans. Notwithstanding anything to the contrary in this Agreement, neither the Trustee, the Master Servicer nor the Special Servicer shall permit any modification of any Money Term of a Mortgage Loan or a Specially Serviced Mortgage Loan unless (i) the Trustee and the Master Servicer have received a Nondisqualification Opinion or a ruling to the same effect as a Nondisqualification Opinion from the Internal Revenue Service (at the expense of the party making the request that the Master Servicer or the Special Servicer modify the Mortgage Loan or a Specially Serviced Mortgage Loan) to the effect that such modification would not be treated as an exchange pursuant to Section 1001 of the Code (or, if it would be so treated, would not be treated as a "significant modification" for purposes of Treasury regulation Section 1.860G-2(bTreas. Reg. Sec. 1.860G-2(B) of the Code)) or (ii) such modification meets the requirements set forth in Sections 8.18 or 9.5.