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.

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.