Common use of Preservation Expenses Clause in Contracts

Preservation Expenses. Reasonable and customary expenditures made by the Master Servicer or a Servicer (or subservicer, to the extent such subservicer makes such expenditures on behalf of a Servicer) in connection with a foreclosed Mortgage Loan prior to the liquidation thereof, including, without limitation, expenditures for real estate property taxes and assessments, payments to senior lienholders or holders of any ground lease, hazard insurance premiums, property restoration or preservation.

Preservation Expenses. Reasonable and customary expenditures made by the Master Servicer or a Servicer (or subservicerSubservicer, to the extent such subservicer Subservicer makes such expenditures on behalf of a Servicer) in connection with a foreclosed Mortgage Loan prior to the liquidation thereof, including, without limitation, expenditures for real estate property taxes and assessments, payments to senior lienholders or holders of any ground lease, hazard insurance premiums, property restoration or preservation.