Common use of Payments of Principal and Interest Clause in Contracts

Payments of Principal and Interest. Subject to the Servicing Contract, each Direct Servicer will make reasonable efforts to collect all payments required under the terms and provisions of the Mortgage Documents. Each Servicing Contract will require that the related Direct Servicer will become obligated to the related Trust to pay to the Trustee (or as otherwise directed in this Trust Agreement) any principal and interest (to the extent of the Pass-Through Rate) received from or paid on behalf of a Borrower or otherwise realized on a Mortgage Loan or a Mortgaged Property. Each Direct Servicer will deposit payments of principal and interest received on each Mortgage Loan as provided in Section 6.1. The Direct Servicer will be deemed to have complied with this requirement if its collections and deposits are made in accordance with practices that achieve substantial compliance in all material respects. If the amount received by a Direct Servicer from or on behalf of any Borrower for any payment date is more or less than the amount required to be paid under the related Mortgage Documents, then the Direct Servicer will apply or hold the payment as provided in the related Mortgage Documents and the related Servicing Contract. The Direct Servicer may temporarily hold partial or additional payments as unapplied funds in a Custodial Account, or other account established for that Borrower to the extent consistent with the Mortgage Documents and applicable law.

Payments of Principal and Interest. Subject to the Servicing Contract, each Direct Servicer will make reasonable efforts to collect all payments required under the terms and provisions of the Mortgage Documents. Each Servicing Contract will require that the related Direct Primary Servicer will become obligated to the related Trust to pay to the Trustee (or as otherwise directed in this Trust Agreement) any principal and interest (to the extent of the Pass-Through Rate) received from or paid on behalf of a Borrower or otherwise realized on a Mortgage Loan or a Loan, Mortgaged Property, Defeasance Securities or Supplemental Collateral. Each Direct Primary Servicer will deposit payments of principal and interest received on each Mortgage Loan as provided in Section 6.1. The Direct Primary Servicer will be deemed to have complied with this requirement if its collections and deposits are made in accordance with practices that achieve substantial compliance in all material respects. If the amount received by a Direct Primary Servicer from or on behalf of any Borrower for any payment date is more or less than the amount required to be paid under the related Mortgage Documents, then then, unless otherwise provided in the Direct Servicing Contract, the Primary Servicer will apply or hold the payment as provided in the related Mortgage Documents and the related Servicing Contract. The Direct Primary Servicer may temporarily hold partial or additional payments as unapplied funds in a Custodial Account, Account or other account established for that Borrower to the extent consistent with the Mortgage Documents and applicable law.law.‌

Payments of Principal and Interest. Subject to the Servicing Contract, each Direct Servicer will make reasonable efforts to collect all payments required under the terms and provisions of the Mortgage Documents. Each Servicing Contract will require that the related Direct Primary Servicer will become obligated to the related Trust to pay to the Trustee (or as otherwise directed in this Trust Agreement) any principal and interest (to the extent of the Pass-Through Rate) received from or paid on behalf of a Borrower or otherwise realized on a Mortgage Loan or a Loan, Mortgaged Property, Defeasance Securities or Supplemental Collateral. Each Direct Primary Servicer will deposit payments of principal and interest received on each Mortgage Loan as provided in Section 6.1. The Direct Primary Servicer will be deemed to have complied with this requirement if its collections and deposits are made in accordance with practices that achieve substantial compliance in all material respects. If the amount received by a Direct Primary Servicer from or on behalf of any Borrower for any payment date is more or less than the amount required to be paid under the related Mortgage Documents, then then, unless otherwise provided in the Direct Servicing Contract, the Primary Servicer will apply or hold the payment as provided in the related Mortgage Documents and the related Servicing Contract. The Direct Primary Servicer may temporarily hold partial or additional payments as unapplied funds in a Custodial Account, Account or other account established for that Borrower to the extent consistent with the Mortgage Documents and applicable law.

Payments of Principal and Interest. Subject to the Servicing Contract, each Direct Servicer will make reasonable efforts to collect all payments required under the terms and provisions of the Mortgage Documents. Each Servicing Contract will require that the related Direct Primary Servicer will become obligated to the related Trust to pay to the Trustee (or as otherwise directed in this Trust Agreement) any principal and interest (to the extent of the Pass-Through Rate) received from or paid on behalf of a Borrower or otherwise realized on a Mortgage Loan or a Loan, Mortgaged Property, Defeasance Securities or Supplemental Collateral. Each Direct Primary Servicer will deposit payments of principal and interest received on each Mortgage Loan as provided in Section 6.1. The Direct Primary Servicer will be deemed to have complied with this requirement if its collections and deposits are made in accordance with practices that achieve substantial compliance in all material respects. If the amount received by a Direct Primary Servicer from or on behalf of any Borrower for any payment date is more or less than the amount required to be paid under the related Mortgage Documents, then then, unless otherwise provided in the Direct Servicing Contract, the Primary Servicer will apply or hold the payment as provided in the related Mortgage Documents and the related Servicing Contract. Contract.‌ The Direct Primary Servicer may temporarily hold partial or additional payments as unapplied funds in a Custodial Account, Account or other account established for that Borrower to the extent consistent with the Mortgage Documents and applicable law.

Payments of Principal and Interest. Subject to the Servicing Contract, each Direct Servicer will make reasonable efforts to collect all payments required under the terms and provisions of the Mortgage Documents. Each Servicing Contract will require that the related Direct Primary Servicer will become obligated to the related Trust to pay to the Trustee (or as otherwise directed in this Trust Agreement) any principal and interest (to the extent of the Pass-Through Rate) received from or paid on behalf of a Borrower or otherwise realized on a Mortgage Loan or a Loan, Mortgaged Property, Defeasance Securities or Supplemental Collateral. Each Direct Primary Servicer will deposit payments of principal and interest received on each Mortgage Loan as provided in Section 6.1. The Direct Primary Servicer will be deemed to have complied with this requirement if its collections and deposits are made in accordance with practices that achieve substantial compliance in all material respects. If the amount received by a Direct Primary Servicer from or on behalf of any Borrower for any payment date is more or less than the amount required to be paid under the related Mortgage Documents, then then, unless otherwise provided in the Direct Servicing Contract, the Primary Servicer will apply or hold the payment as provided in the related Mortgage Documents and the related Servicing Contract. The Direct Primary Servicer may temporarily hold partial or additional payments as unapplied funds in a Custodial Account, Escrow Account, or other account established Supplemental Account for that Borrower to the extent consistent with the Mortgage Documents and applicable law.law.‌

Payments of Principal and Interest. Subject to the Servicing Contract, each Direct Servicer will make reasonable efforts to collect all payments required under the terms and provisions of the Mortgage Documents. Each Servicing Contract will require that the related Direct Primary Servicer will become obligated to the related Trust to pay to the Trustee (or as otherwise directed in this Trust Agreement) any principal and interest (to the extent of the Pass-Through Rate) received from or paid on behalf of a Borrower or otherwise realized on a Mortgage Loan or a Loan, Mortgaged Property, Defeasance Securities or Supplemental Collateral. Each Direct Primary Servicer will deposit payments of principal and interest received on each Mortgage Loan as provided in Section 6.1. The Direct Primary Servicer will be deemed to have complied with this requirement if its collections and deposits are made in accordance with practices that achieve substantial compliance in all material respects. If the amount received by a Direct Primary Servicer from or on behalf of any Borrower for any payment date is more or less than the amount required to be paid under the related Mortgage Documents, then then, unless otherwise provided in the Direct Servicing Contract, the Primary Servicer will apply or hold the payment as provided in the related Mortgage Documents and the related Servicing Contract. The Direct Primary Servicer may temporarily hold partial or additional payments as unapplied funds in a Custodial Account, Escrow Account, or other account established Supplemental Account for that Borrower to the extent consistent with the Mortgage Documents and applicable law.