Primary Servicing. Section 2.1 Primary Servicing From the Closing Date until the Primary Servicing Termination Date, Master Servicer hereby authorizes and directs Primary Servicer to service each Mortgage Loan and each A/B Mortgage Loan as primary servicer on behalf of and at the direction of the Master Servicer as provided in this Agreement. The Services shall consist of the following:
(a) Primary Servicer shall perform all tasks and responsibilities necessary to meet the requirements under the Task Description, the Post Closing Matters Description, the Payment and Collection Description and the Payment and Mortgage Loan Status Reports, in each case in accordance with the terms of this Agreement and, with respect to each B Note, the terms of the related A/B Intercreditor Agreement, and in a manner not inconsistent with the Pooling and Servicing Agreement. Primary Servicer shall also perform the obligations to which it has expressly agreed under the Pooling and Servicing Agreement and the Master Servicer's obligations set forth in Sections 2.1(c), 2.1(d), that portion of 5.1(g) relating to the Escrow Status Report, 8.11(i), if applicable, and 8.14 of the Pooling and Servicing Agreement relating to Annual Statement and Rent Roll Reporting with respect to the Mortgage Loans and the A/B Mortgage Loans.
Primary Servicing. From the Closing Date until the Primary Servicing Termination Date, Master Servicer hereby authorizes and directs the Primary Servicer to service, and the Primary Servicer hereby agrees to service, the Mortgage Loans as primary servicer on behalf and at the direction of the Master Servicer as provided in this Agreement.
Primary Servicing. With respect to each Primary Servicer, and unless expressly stated otherwise, the provisions of the Trust Documents will be interpreted as referring only to the Mortgage Loans serviced by that Primary Servicer. Terms such as “Custodial Account” and “Certificate Account” will be construed to mean accounts pertaining to only the Mortgage Loans serviced by that Primary Servicer. With respect to each Mortgage Loan, unless expressly stated otherwise, references to the “Primary Servicer” will mean the particular Primary Servicer (and any Subservicer engaged by that Primary Servicer) that is then servicing that Mortgage Loan.
Primary Servicing. 11 SECTION 2.1 PRIMARY SERVICING................................................. 11 SECTION 2.2
Primary Servicing. SECTION 2.2
Primary Servicing. Primary Servicing From the Closing Date until the Primary Servicing Termination Date, Master Servicer hereby authorizes and directs Primary Servicer to service each Mortgage Loan and each A/B Mortgage Loan as primary servicer on behalf of and at the direction of the Master Servicer as provided in this Agreement. The Services shall consist of the following: Primary Servicer shall perform all tasks and responsibilities necessary to meet the requirements under the Task Description, the Post Closing Matters Description, the Payment and Collection Description and the Payment and Mortgage Loan Status Reports, in each case in accordance with the terms of this Agreement and, with respect to each B Note, the terms of the related A/B Intercreditor Agreement, and in a manner not inconsistent with the Pooling and Servicing Agreement. Primary Servicer shall also perform the obligations to which it has expressly agreed under the Pooling and Servicing Agreement and the Master Servicer's obligations set forth in Sections 2.1(c), 2.1(d), that portion of 5.1(g) relating to the Escrow Status Report, 8.11(i), if applicable, and 8.14 of the Pooling and Servicing Agreement relating to Annual Statement and Rent Roll Reporting with respect to the Mortgage Loans and the A/B Mortgage Loans. Master Servicer and Primary Servicer agree and acknowledge that the Task Description is a chart that enumerates a list of tasks and the general allocation of responsibility of servicing obligations between the Master Servicer and the Primary Servicer for such tasks, and the Post Closing Matters Description sets forth a specific method for classifying post closing requests of a Mortgagor and allocating responsibility for handling such requests based upon such classification. Master Servicer and Primary Servicer have made efforts to reconcile the Task Description and Post Closing Matters Description. Without limiting the foregoing, Primary Servicer shall collect and remit payments on the Mortgage Loans and the A/B Mortgage Loans in accordance with the Payment and Collection Description. For the purposes of this Agreement, the "Payment and Collection Description" shall encompass all of the following responsibilities and obligations set forth in the following subsections (i) through (viii) and subsection (xii): On or prior to the Closing Date, the Primary Servicer shall establish a Primary Servicer Collection Account, and give the Master Servicer prior written notice of the name and address of the d...
Primary Servicing. 8 Section 2.1 Primary Servicing....................................... 8 Section 2.2 Standard of Care......................................
Primary Servicing. 9 Section 2.1 Primary Servicing................................................. 9 Section 2.2 Standard of Care.................................................. 18 Section 2.3 Compensation and Other Payments to the Primary Servicer........... 18 Section 2.4 Primary Servicer Representations and Warranties................... 19
Primary Servicing. Section 2.2 Standard of Care.......................................
Primary Servicing. The Company has entered into the Loan Servicing Agreement with GMAC for certain loan servicing activities with respect to the Company's mortgage loans. The Manager will monitor and administer the loan servicing activities provided by third-party servicers of the Company's mortgage loans (including, without limitation, GMAC). Such monitoring and administrative services will include, but not be limited to, the following activities: serving as the Company's consultant with respect to the servicing of loans; collection of information and submission of reports pertaining to the mortgage loans and to moneys remitted to the Manager or the Company by servicers; periodic review and evaluation of the performance of each servicer to determine its compliance with the terms and conditions of the servicing agreement and, if deemed appropriate, recommending to the Company the termination of such servicing agreement; acting as a liaison between servicers and the Company and working with servicers to the extent necessary to improve their servicing performance. The Manager will provide all loan servicing activities which are not provided by third-party servicers. Such services shall include, but not be limited to, the following activities: review of and recommendations as to fire losses, easement problems and condemnation, delinquency and foreclosure procedures with regard to the mortgage loans; preparation of delinquency, foreclosing and other reports on mortgage loans; and advising as to and supervising claims filed under any insurance policies.
