Common use of Restoration of Specially Serviced Mortgage Loans Clause in Contracts

Restoration of Specially Serviced Mortgage Loans. (a) Upon determining with respect to a Specially Serviced Mortgage Loan that (i) three consecutive Monthly Payments on a Specially Serviced Mortgage Loan have been made in accordance with the terms of the related Mortgage Note (taking into account any grace periods contained therein), (ii) such Mortgage Loan is current as to payments of principal and interest and (iii) no Servicing Transfer Event is continuing, the Special Servicer shall immediately give written notice thereof to the Master Servicer, and the Trustee in the form of Exhibit W hereto. (b) Unless the Master Servicer and the Special Servicer with respect to a Mortgage Loan are the same Person, not later than two (2) Business Days after notice has been given pursuant to subsection (a) above, the Special Servicer shall send a letter by first class mail in the form of Exhibit X hereto, with a copy to the Master Servicer, notifying the related Mortgagor that such Mortgage Loan has ceased being a Specially Serviced Mortgage Loan and instructing such Mortgagor to direct all future notices and communications to the Master Servicer. (c) In the event that a Specially Serviced Mortgage Loan ceases to be such pursuant to this Section 6.12, not later than five (5) Business Days after notice has been given in (a) above the Special Servicer shall provide the Master Servicer with copies of all information, documents and records (including records stored electronically on computer tapes, magnetic disks and the like) in its possession relating to such Mortgage Loan. Upon receipt of such notice and all information, documents and records by the Master Servicer pursuant to Section 6.02(c) hereof, such Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan, the Special Servicer's obligation to service such Mortgage Loan shall terminate, and all duties and obligations of the Master Servicer with respect to such Mortgage Loan to the extent set forth herein previously assumed by the Special Servicer shall be reassumed by the Master Servicer.

Restoration of Specially Serviced Mortgage Loans. (a) Upon determining with respect to a Specially Serviced Mortgage Loan that (i) three consecutive Monthly Payments on a Specially Serviced Mortgage Loan have been made in accordance with the terms of the related Mortgage Note (taking into account any grace periods contained therein), (ii) such Mortgage Loan is current as to payments of principal and interest and (iii) no Servicing Transfer Event is continuing, the Special Servicer shall immediately give written notice thereof to the Master Servicer, the related Primary Servicer and the Trustee in the form of Exhibit W hereto. (b) Unless the Master related Primary Servicer and the Special Servicer with respect to a Related Mortgage Loan are the same Person, not later than two (2) Business Days after notice has been given pursuant to subsection (a) above, the Special Servicer shall send a letter by first class mail in the form of Exhibit X hereto, with a copy to the Master related Primary Servicer, notifying the related Mortgagor that such Mortgage Loan has ceased being a Specially Serviced Mortgage Loan and instructing such Mortgagor to direct all future notices and communications to the Master related Primary Servicer. (c) In the event that a Specially Serviced Mortgage Loan ceases to be such pursuant to this Section 6.12, not later than five (5) Business Days after notice has been given in (a) above the Special Servicer shall provide the Master related Primary Servicer with copies of all information, documents and records (including records stored electronically on computer tapes, magnetic disks and the like) in its possession relating to such Mortgage Loan. Upon receipt of such notice and all information, documents and records by the Master related Primary Servicer pursuant to Section 6.02(c) hereof, such Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan, the Special Servicer's obligation to service such Related Mortgage Loan shall terminate, and all duties and obligations of the Master related Primary Servicer with respect to such Related Mortgage Loan to the extent set forth herein previously assumed by the Special Servicer shall be reassumed by the Master related Primary Servicer.

Restoration of Specially Serviced Mortgage Loans. (a) Upon determining with respect to a Specially Serviced Mortgage Loan that (i) three consecutive Monthly Payments on a Specially Serviced Mortgage Loan have been made in accordance with the terms of the related Mortgage Note (taking into account any grace periods contained therein), (ii) such Mortgage Loan is current as to payments of principal and interest and (iii) no Servicing Transfer Event is continuing, the Special Servicer shall immediately give written notice thereof to the Master Servicer, the Directing Certificateholder and the Trustee substantially in the form of Exhibit W hereto. (b) Unless the Master Servicer and the Special Servicer with respect to a Mortgage Loan are the same Person, not later than two (2) Business Days after notice has been given pursuant to subsection (a) above, the Special Servicer shall send a letter by first class mail substantially in the form of Exhibit X hereto, with a copy to the Master Servicer, notifying the related Mortgagor that such Mortgage Loan (and any related Cross Collateralized Loan, if applicable) has ceased being a Specially Serviced Mortgage Loan and instructing such Mortgagor to direct all future notices and communications to the Master Servicer. (c) In the event that a Specially Serviced Mortgage Loan (and any related Cross Collateralized Loan, if applicable) ceases to be such pursuant to this Section 6.12, not later than five (5) Business Days after notice has been given in (a) above the Special Servicer shall provide the Master Servicer with copies of all information, documents and records (including records stored electronically on computer tapes, magnetic disks and the like) in its possession relating to such Mortgage Loan (and any related Cross Collateralized Loan, if applicable) . Upon receipt of such notice and all information, documents and records by the Master Servicer pursuant to Section 6.02(c) hereof, such Mortgage Loan (and any related Cross Collateralized Loan, if applicable) shall cease to be a Specially Serviced Mortgage Loan, the Special Servicer's obligation to service such Mortgage Loan (and any related Cross Collateralized Loan, if applicable) shall terminate, and all duties and obligations of the Master Servicer with respect to such Mortgage Loan (and any related Cross Collateralized Loan, if applicable) to the extent set forth herein previously assumed by the Special Servicer shall be reassumed by the Master Servicer.

Restoration of Specially Serviced Mortgage Loans. (a) Upon determining with respect to a Specially Serviced Mortgage Loan that (i) three consecutive Monthly Payments on a Specially Serviced Mortgage Loan have been made in accordance with the terms of the related Mortgage Note (taking into account any grace periods contained therein), (ii) such Mortgage Loan is current as to payments of principal and interest and (iii) no Servicing Transfer Event is continuing, the Special Servicer shall immediately give written notice thereof to the Master Servicer, Servicer and the Trustee in the form of Exhibit W heretoTrustee. (b) Unless the Master Servicer and the Special Servicer with respect to a Mortgage Loan are the same Person, not later than two (2) Business Days after notice has been given pursuant to subsection (a) above, the Special Servicer shall send a letter by first class mail in the form of Exhibit X heretomail, with a copy to the Master Servicer, notifying the related Mortgagor that such Mortgage Loan has ceased being a Specially Serviced Mortgage Loan and instructing such Mortgagor to direct all future notices and communications to the Master Servicer. (c) In the event that a Specially Serviced Mortgage Loan ceases to be such pursuant to this Section 6.126.10, not later than five (5) Business Days after notice has been given in (a) above above, the Special Servicer shall use its best efforts to provide the Master Servicer with copies of all information, documents and records (including records stored electronically on computer tapes, magnetic disks and the like) in its possession relating to such Mortgage Loan. Upon receipt of such notice and all information, documents and records by the Master Servicer pursuant to this Section 6.02(c) 6.10 hereof, such Mortgage Loan shall cease to be a Specially Serviced Mortgage Loan, the Special Servicer's obligation to service such Mortgage Loan shall terminate, and all duties and obligations of the Master Servicer with respect to such Mortgage Loan to the extent set forth herein previously assumed undertaken by the Special Servicer shall be reassumed resumed by the Master Servicer.

Restoration of Specially Serviced Mortgage Loans. (a) Upon determining with respect to a Specially Serviced Mortgage Loan that (i) three (3) consecutive Monthly Payments on a Specially Serviced Mortgage Loan have been made in accordance with the terms of the related Mortgage Note (taking into account any grace periods contained therein), (ii) such Mortgage Loan is current as to payments of principal and interest and (iii) no Servicing Transfer Event is continuing, the Special Servicer shall 115 immediately give written notice thereof to the Master Servicer, the Directing Certificateholder and the Trustee substantially in the form of Exhibit W hereto.W. (b) Unless the Master Servicer and the Special Servicer with respect to a Mortgage Loan are the same Person, not later than two (2) Business Days after notice has been given pursuant to subsection (a) above, the Special Servicer shall send a letter by first class mail substantially in the form of Exhibit X heretoX, with a copy to the Master Servicer, notifying the related Mortgagor that such Mortgage Loan (and any related Cross Collateralized Loan, if applicable) has ceased being a Specially Serviced Mortgage Loan and instructing such Mortgagor to direct all future notices and communications to the Master Servicer. (c) In the event that a Specially Serviced Mortgage Loan (and any related Cross Collateralized Loan, if applicable) ceases to be such pursuant to this Section 6.12, not later than five (5) Business Days after notice has been given in (a) above the Special Servicer shall provide the Master Servicer with copies of all information, documents and records (including records stored electronically on computer tapes, magnetic disks and the like) in its possession relating to such Mortgage Loan (and any related Cross Collateralized Loan, if applicable). Upon receipt of such notice and all information, documents and records by the Master Servicer pursuant to Section 6.02(c) hereof, such Mortgage Loan (and any related Cross Collateralized Loan, if applicable) shall cease to be a Specially Serviced Mortgage Loan, the Special Servicer's obligation to service such Mortgage Loan (and any related Cross Collateralized Loan, if applicable) shall terminate, and all duties and obligations of the Master Servicer with respect to such Mortgage Loan (and any related Cross Collateralized Loan, if applicable) to the extent set forth herein previously assumed by the Special Servicer shall be reassumed by the Master Servicer.