Common use of Release of Custodial Files Clause in Contracts

Release of Custodial Files. (a) Upon (i) becoming aware of the payment in full of any Mortgage Loan or (ii) the receipt by the Master Servicer or the applicable Servicer of a notification that payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next applicable Distribution Date, the Master Servicer, pursuant to the Pooling Agreement shall, or shall cause the applicable Servicer to, promptly notify the Custodian by a certification (which certification will include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Collection Account or custodial account maintained by the Master Servicer or the applicable Servicer pursuant to the Pooling Agreement or the applicable Servicing Agreement have been or will be deposited) of a Servicing Officer and shall request the Custodian, on the request for release and receipt substantially in the form of Exhibit B-4 (or an electronic version mutually acceptable to the Custodian and the applicable Servicer), to deliver to the Master Servicer or the applicable Servicer, as the case may be, the related Custodial File. Upon receipt of such certification and request, the Custodian shall promptly release and send via overnight mail the related Custodial File within three Business Days to the applicable Servicer and the Custodian shall have no further responsibility with regard to such Custodial File. (b) The Custodian shall, upon request of the Master Servicer or the applicable Servicer and delivery to the Custodian of a request for release and receipt signed by a Servicing Officer substantially in the form of Exhibit B-4 (or an electronic version acceptable to the Custodian) for the purposes of servicing the Custodial File, release within three Business Days the related Custodial File held in its possession or control to the Master Servicer or the applicable Servicer. Such release shall obligate the Master Servicer or the applicable Servicer to return the Custodial File to the Custodian when the need therefor by the Master Servicer or the applicable Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Custodial File shall be released by the Custodian to the Master Servicer or the applicable Servicer.

Release of Custodial Files. (a) Upon Upon (i) becoming aware of the payment in full of any Mortgage Loan or Loan, (ii) the receipt by the Master Servicer or the applicable Servicer Subservicer of a notification that payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next applicable Distribution Date, or (iii) in the Master Servicercase of a Mortgage Loan as to which the related Mortgaged Property is located in California, pursuant to if the Pooling Agreement shallServicer or the Subservicer reasonably expects that payment in full will be received promptly, the Servicer or shall cause the applicable Servicer to, Subservicer will promptly notify the Custodian by a certification (which certification will include (except in the case of a request for release pursuant to clause (iii) above) a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Collection Custodial Account or custodial account maintained by the Master Servicer or the applicable Servicer Subservicer pursuant to the Pooling Agreement or the applicable Transfer and Servicing Agreement have been or will be deposited) of a Servicing Officer and shall request the Custodian, on the request for release and receipt substantially in the form of Exhibit B-4 (or an in a mutually agreeable electronic version mutually format acceptable to the Custodian and the applicable ServicerCustodian), to deliver to the Master Servicer or the applicable ServicerSubservicer, as the case may be, the related Custodial File. Upon receipt of such certification and request, the Custodian shall promptly release and send via overnight mail the related Custodial File within three (3) Business Days to the applicable Servicer or the Subservicer and the Custodian shall have no further responsibility with regard to such Custodial File. (b) . If the Servicer or Subservicer does not request release of a Custodial File with respect to any Mortgage Loan that has been paid in full, the Master Servicer may submit a request for release to the Custodian and the Custodian shall deliver the Custodial File to the Master Servicer. The Custodian shall, upon request of the Master Servicer, the Servicer or the applicable Servicer Subservicer and delivery to the Custodian of a request for release and receipt signed by a Servicing Officer substantially in the form of Exhibit B-4 (or an in a mutually agreeable electronic version format acceptable to the Custodian) for the purposes of servicing the Custodial File), release within three (3) Business Days the related Custodial File held in its possession or control to the Master Servicer, the Servicer or the applicable ServicerSubservicer. Such release trust receipt shall obligate the Master Servicer or the applicable Servicer to return the Custodial File to the Custodian when the need therefor by the Master Servicer or the applicable Servicer Subservicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Custodial File shall be released by the Custodian to the Master Servicer, the Servicer or the applicable ServicerSubservicer.

Release of Custodial Files. (a) Upon (i) becoming aware of the payment in full of any Mortgage Loan Loan, or (ii) the receipt by the Master Servicer or the applicable Servicer of a notification that payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next applicable Distribution Datepurposes, the Master Servicer, pursuant to the Pooling Agreement shall, or Servicer promptly shall cause the applicable Servicer to, promptly notify the Custodian by a certification (which certification will include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Collection Account or custodial account maintained by the Master Servicer or the applicable Servicer pursuant to the Pooling Agreement or the applicable Transfer and Servicing Agreement have been or will be so deposited) of a Servicing Officer and shall request the Custodian, on the request for release and receipt substantially in the form of Exhibit B-4 (or an electronic version mutually acceptable to the Custodian and the applicable Servicer)B-4, to deliver to the Master Servicer or the applicable Servicer, as the case may be, the related Custodial File. Upon receipt of such certification and request, the Custodian shall promptly release and send via overnight mail within three (3) Business Days the related Custodial File within three Business Days to the applicable Servicer and the Custodian shall have no further responsibility with regard to such Custodial File. (b) The Custodian shall, upon request of the Master Servicer or the applicable Servicer and delivery to the Custodian of a request for release and receipt signed by a Servicing Officer substantially in the form of Exhibit B-4 (or an electronic version acceptable to the Custodian) for the purposes of servicing the Custodial FileB-4, promptly release within three (3) Business Days of receipt of such request the related Custodial File held in its possession or control to the Master Servicer or the applicable Servicer. Such request for release and receipt shall obligate the Master Servicer or the applicable Servicer to return the Custodial File to the Custodian when the need therefor by the Master Servicer or the applicable Servicer no longer exists (but no later than the time specified in Exhibit B-4) unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Custodial File shall be released by the Custodian to the Master Servicer or the applicable Servicer.

Release of Custodial Files. (a) Upon (i) becoming aware of the payment in full of any Mortgage Loan or Loan, (ii) the receipt by the Master Servicer, the Servicer or the applicable Servicer Subservicer of a notification that payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next applicable Distribution Date, or (iii) in the case of a Mortgage Loan as to which the related Mortgaged Property is located in California, receipt by the Master Servicer of notification from the Servicer or the Subservicer that the Servicer or the Subservicer reasonably expects that payment in full will be received promptly, the Master Servicer, pursuant to the Pooling Trust Agreement shallwill, or shall will cause the applicable Servicer or the Subservicer to, promptly notify the Custodian by a certification (which certification will include (except in the case of a request for release pursuant to clause (iii) above) a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Collection Account or custodial account maintained by the Master Servicer or the applicable Servicer pursuant to the Pooling Agreement or the applicable Servicing Trust Agreement have been or will be deposited) of a Servicing Officer and shall request the Custodian, on the request for release and receipt substantially in the form of Exhibit B-4 (or an electronic version mutually acceptable to the Custodian and the applicable Servicer)B-4, to deliver to the Master Service, the Servicer or the applicable ServicerSubservicer, as the case may be, the related Custodial File. Upon receipt of such certification and request, the Custodian shall promptly release and send via overnight mail the related Custodial File within three (3) Business Days to the applicable Servicer or the Subservicer and the Custodian shall have no further responsibility with regard to such Custodial File. (b) The Custodian shall, upon request of the Master Servicer, the Servicer or the applicable Servicer Subservicer and delivery to the Custodian of a request for release and receipt signed by a Servicing Officer substantially in the form of Exhibit B-4 (or an electronic version acceptable to the Custodian) for the purposes of servicing the Custodial FileB-4, release within three (3) Business Days the related Custodial File held in its possession or control to the Master Servicer, the Servicer or the applicable ServicerSubservicer. Such release trust receipt shall obligate the Master Servicer or the applicable Servicer to return the Custodial File to the Custodian when the need therefor by the Master Servicer or the applicable Servicer Subservicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Custodial File shall be released by the Custodian to the Master Servicer or the applicable ServicerServicer or the Subservicer.

Release of Custodial Files. (a) Upon (i) becoming aware of the payment in full of any Mortgage Loan Loan, or (ii) the receipt by the Master Servicer or the applicable Servicer of a notification that payment in full has been escrowed in a manner customary for such purposes for payment to Certificateholders on the next applicable Distribution Datepurposes, the Master Servicer, pursuant to the Pooling Agreement shall, or shall cause the applicable Servicer to, shall promptly notify the Custodian by a certification (which certification will include a statement to the effect that all amounts received in connection with such payment that are required to be deposited in the Collection Account or custodial account maintained by the Master Servicer or the applicable Servicer pursuant to the Pooling Agreement or the applicable Servicing Agreement have been or will be so deposited) of a Servicing Officer and shall request the Custodian, on the request for release and receipt substantially in the form of Exhibit B-4 (or an electronic version mutually acceptable to the Custodian and the applicable Servicer)B-4, to deliver to the Master applicable Servicer or the applicable Servicer, as the case may be, the related Custodial File. Upon receipt of such certification and request, the Custodian shall promptly release and send via overnight mail within [______] Business Days the related Custodial File within three Business Days to the applicable Servicer and the Custodian shall have no further responsibility with regard to such Custodial File. (b) The Custodian shall, upon request of the Master Servicer or the applicable Servicer and delivery to the Custodian of a request for release and receipt signed by a Servicing Officer substantially in the form of Exhibit B-4 (or an electronic version acceptable to the Custodian) for the purposes of servicing the Custodial FileB-4, release within three [______] Business Days the related Custodial File held in its possession or control to the Master Servicer or the applicable related Servicer. Such release trust receipt shall obligate the Master Servicer or the applicable Servicer to return the Custodial File to the Custodian when the need therefor by the Master Servicer or the applicable Servicer no longer exists unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a certificate of a Servicing Officer similar to that hereinabove specified, the Custodial File shall be released by the Custodian to the Master Servicer or the applicable such Servicer.