Common use of Operation of REO Property Clause in Contracts

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Commercial Mortgage Pass-Through Certificates, Series 2013-C7, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C7), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C8), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C7)

AutoNDA by SimpleDocs

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Bank Wxxxx Fargo Bank, National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Mxxxxx Sxxxxxx Bank of America Xxxxxxx Xxxxx Mxxxxxx Lxxxx Trust 2013-C7C10, Commercial Mortgage Pass-Through Certificates, Series 2013-C7C10, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C10)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Mxxxxx Sxxxxxx Bank of America Xxxxxxx Xxxxx Mxxxxxx Lxxxx Trust 2013-C7C12, Commercial Mortgage Pass-Through Certificates, Series 2013-C7C12, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12), Pooling and Servicing Agreement (COMM 2013-Lc13 Mortgage Trust)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Deutsche Bank National AssociationTrust Company Americas, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Mxxxxx Sxxxxxx Bank of America Xxxxxxx Xxxxx Mxxxxxx Lxxxx Trust 2013-C7C11, Commercial Mortgage Pass-Through Certificates, Series 2013-C7C11, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C10), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Bank for Wxxxx Fargo Bank, National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7Mxxxxx Sxxxxxx Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series 20132012-C7C4, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear [name of Property Account]” (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 3 contracts

Samples: Distribution Instructions (Morgan Stanley Capital I Trust 2012-C4), Distribution Instructions (Morgan Stanley Capital I Trust 2012-C4), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2012-C4)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC "Xxxxx Fargo Bank, National Association, as Special Servicer on behalf of U.S. Bank National Association., as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Capital I Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132005-C7HQ5, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 HQ5), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 HQ5), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 HQ5)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan ServicesRialto Capital Advisors, a Division of PNC Bank, National AssociationLLC, as Special Servicer on behalf of U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 20132014-C7C14, Commercial Mortgage Pass-Through Certificates, Series 20132014-C7C14, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan ServicesRialto Capital Advisors, a Division of PNC Bank, National AssociationLLC, as Special Servicer on behalf of U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Mxxxxx Sxxxxxx Bank of America Xxxxxxx Xxxxx Mxxxxxx Lxxxx Trust 2013-C7C13, Commercial Mortgage Pass-Through Certificates, Series 2013-C7C13, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C13), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C13)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan ServicesLNR Partners, a Division of PNC Bank, National AssociationLLC, as Special Servicer on behalf of U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 20132014-C7C16, Commercial Mortgage Pass-Through Certificates, Series 20132014-C7C16, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Capital I Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132004-C7HQ4, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 HQ4), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 HQ4)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Bear Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132004-C7TOP16, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2004-Top16), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2004-Top16)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Capital I Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132004-C7TOP15, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust Series 2004-Top15), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 HQ4)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of for U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7Mxxxxx Sxxxxxx Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series 20132011-C7C3, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear [name of Property Account]” (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2011-C3), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2011-C3)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Mxxxxx Sxxxxxx Bank of America Xxxxxxx Xxxxx Mxxxxxx Lxxxx Trust 20132012-C7C6, Commercial Mortgage Pass-Through Certificates, Series 20132012-C7C6, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C6), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C6)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7Mxxxxx Sxxxxxx Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series 20132012-C7C5, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear [name of Property Account]” (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 2 contracts

Samples: Distribution Instructions (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5), Distribution Instructions (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Bear Stearns Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificates, Thxxxxx Xertificates Series 20132005-C7TOP18, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Top18), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Top18)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Deutsche Bank National AssociationTrust Company Americas, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 20132014-C7C15, Commercial Mortgage Pass-Through Certificates, Series 20132014-C7C15, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Capital I Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132005-C7TOP17, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 TOP 17), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 TOP 17)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Xxxx Xxxxxx Capital I Inc. Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132003-C7TOP9, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Ser 2003 Top9), Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Ser 2003 Top9)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan ServicesNS Servicing II, a Division of PNC Bank, National AssociationLLC, as Special Servicer on behalf of U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7C8, Commercial Mortgage Pass-Through Certificates, Series 2013-C7C8, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C8), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C8)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Capital I Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132005-C7HQ6, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the applicable Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq6), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq6)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Federal Center Plaza Companion Loan if in connection with a the Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Bear Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132003-C7TOP10, the holder of any Serviced the Federal Center Plaza Companion Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2003-Top10)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC "Xxxxx Fargo Bank, National Association, as Special Servicer on behalf of U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7Capital I Inc., Commercial Mortgage Pass-Through Certificates, Certificates Series 20132007-C7HQ13, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Hq13)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced WestShore Plaza Companion Loan if in connection with a the Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Bear Stearns Commercial Mortgage PassSecurities Inc. Commercial Mortgage Pasx-Through Certificates, Xxxxxgh Certificates Series 20132003-C7TOP12, the holder of any Serviced the WestShore Plaza Companion Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Ii Inc)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7Capital I Inc., Commercial Mortgage Pass-Through Certificates, Certificates Series 20132006-C7TOP21, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Mortgage Loan Purchase Agreement (Morgan Stanley Capital I Trust 2006-Top21)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Capital I Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132007-C7HQ12, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Hq12)

AutoNDA by SimpleDocs

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC "Xxxxx Fargo Bank, National Association, as Special Servicer on behalf of U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Capital I Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132007-C7HQ11, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in 250 writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Hq11)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Bank Wxxxx Fargo Bank, National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Mxxxxx Sxxxxxx Bank of America Xxxxxxx Xxxxx Mxxxxxx Lxxxx Trust 2013-C7C9, Commercial Mortgage Pass-Through Certificates, Series 2013-C7C9, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services"HSBC Bank USA, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Morgan Stanley Capital I Inc. Commercial Mortgage Pass-Through Certificates, Series 2013Certxxxxxxex Xxxxxs 2006-C7HQ9, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.. 284

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006 - HQ9)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Capital I Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132004-C7TOP13, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stan Dean Wit Cap Com Mort Ps THR CRTS Ser 2003-Top13)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Morgan Stanley Capital I Inc. Commercial Mortgage Pass-Through Certificates, Series 2013Cxxxxxxcxxxx Xxries 2006-C7HQ10, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Hq10)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services"Xxxxx Fargo Bank Minnesota, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Bank National AssociationN.A., as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Xxxx Xxxxxx Capital I Inc. Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132002-C7HQ, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Dep Series 2002-Hq)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Deutsche Bank National AssociationTrust Company Americas, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Mxxxxx Sxxxxxx Bank of America Xxxxxxx Xxxxx Mxxxxxx Lxxxx Trust 20132014-C7C15, Commercial Mortgage Pass-Through Certificates, Series 20132014-C7C15, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Txxxxxx Certificates Series 20132006-C7TOP24, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2006-Top24)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced WestShore Plaza Companion Loan if in connection with a the Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Bear Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132003-C7TOP12, the holder of any Serviced the WestShore Plaza Companion Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mort Sec Tru 2003-Top12)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Bear Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132004-C7TOP14, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Sec Inc Trust 2004 Top14)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Loan and the holder of the related Serviced Companion Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. Bank Xxxxx Fargo Bank, National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7C9, Commercial Mortgage Pass-Through Certificates, Series 2013-C7C9, the holder of any Serviced Companion Loan and the holder of any B Note as their interests may appear (each, an “REO Account”), which shall be an Eligible Account. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified funds. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special Servicer. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Bear Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Commercial Mortgage Securities Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132005-C7TOP20, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Top20)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7Capital I Inc., Commercial Mortgage Pass-Through Certificates, Certificates Series 20132006-C7TOP23, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Top23)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of "U.S. Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7, Capital I Inc. Commercial Mortgage Pass-Through Certificates, Certificates Series 20132006-C7HQ8, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Hq8)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7Mxxxxx Sxxxxxx Capital I Inc., Commercial Mortgage Pass-Through Certificates, Certificates Series 20132007-C7TOP25, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Top25)

Operation of REO Property. (a) The Special Servicer shall segregate and hold all funds collected and received in connection with the operation of each REO Property separate and apart from its own funds and general assets and shall establish and maintain with respect to each REO Property one or more accounts held in trust for the benefit of the Certificateholders (and the holder of the related B Note if in connection with an A/B Whole Mortgage Loan and the holder of the related Serviced Companion Mortgage Loan if in connection with a Loan Pair) in the name of Midland Loan Services, a Division of PNC Bank, National Association, as Special Servicer on behalf of U.S. "LaSalle Bank National Association, as Trustee for the benefit of the Holders of Xxxxxx Xxxxxxx Bank of America Xxxxxxx Xxxxx Trust 2013-C7Bear Stearns Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Txxxxxx Certificates Series 20132006-C7TOP22, the holder of any Serviced Companion Mortgage Loan and the holder of any B Note as their interests may appear [name of Property Account]" (each, an "REO Account"), which shall be an Eligible Account. Amounts in any REO Account shall be invested in Eligible Investments. The Special Servicer shall deposit all funds received with respect to an REO Property in the applicable REO Account within two (2) days of receipt of properly identified fundsreceipt. The Special Servicer shall account separately for funds received or expended with respect to each REO Property. All funds in each REO Account may be invested only in Eligible Investments at the risk of the Special ServicerInvestments. The Special Servicer shall notify the Trustee and the Master Servicer in writing of the location and account number of each REO Account and shall notify the Trustee prior to any subsequent change thereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage SecuritiesTrust 2006-Top22)

Time is Money Join Law Insider Premium to draft better contracts faster.