Common use of Retention of Servicer Clause in Contracts

Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling and servicing agreement or similar agreement entered into as a result of a Securitization, the Cash Management Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer in connection with a release of the Property, assumption or modification of the Loan, enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of Lender.

Appears in 3 contracts

Samples: Loan Agreement (Maguire Properties Inc), Loan Agreement (Maguire Properties Inc), Loan Agreement (Maguire Properties Inc)

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Retention of Servicer. Lender reserves the right to retain the Servicer a servicer (as well as a special servicer) to act as its agent hereunder with respect to the Loan and the Loan Documents with such powers as are specifically delegated to the Servicer servicer (or such special servicer) by Lender, whether pursuant to the terms of this Agreement, any pooling and a servicing agreement or similar agreement entered into as a result of a Securitizationagreement, the Cash Management Deposit Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay have the right to rely on any reasonable fees notices given by any servicer with the same force and expenses of the Servicer in connection with a release of the Property, assumption or modification of the Loan, enforcement of the Loan Documents or any other action taken affect as if such notices had been given by Servicer hereunder on behalf of Lender.

Appears in 2 contracts

Samples: Loan Agreement (Colony Resorts LVH Acquisitions LLC), Loan Agreement (Colony Resorts LVH Acquisitions LLC)

Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling the Pooling and servicing agreement Servicing Agreement or similar agreement entered into as a result of a Securitization, the Cash Management Collateral Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer in connection with a Defeasance of the Note, release of the Property, assumption or modification of the Loan, Loan or enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of LenderDocuments.

Appears in 2 contracts

Samples: Loan Agreement (Prime Group Realty Trust), Loan Agreement (Prime Group Realty Trust)

Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling the Pooling and servicing agreement Servicing Agreement or similar agreement entered into as a result of a Securitization, the Cash Management Collateral Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower Borrowers shall pay any reasonable fees and expenses of the Servicer in connection with a Defeasance of the Note, release of the a Property, assumption or modification of the Loan, Loan or enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of LenderDocuments.

Appears in 2 contracts

Samples: Loan Agreement (Prime Retail Lp), Loan Agreement (Horizon Group Properties Inc)

Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling the Pooling and servicing agreement Servicing Agreement or similar agreement entered into as a result of a Securitization, the Cash Management Deposit Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer in connection with a Defeasance of the Note, release of the Property, assumption or modification of the Loan, Loan or enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of LenderDocuments.

Appears in 2 contracts

Samples: Loan Agreement (Innkeepers Usa Trust/Fl), Loan Agreement (Innkeepers Usa Trust/Fl)

Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling the Pooling and servicing agreement or similar agreement entered into as a result of a SecuritizationServicing Agreement, the Cash Management Deposit Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower or Manager shall pay any reasonable fees and expenses of the Servicer in connection with a Defeasance, release of the Property, assumption or modification of the Loan, Loan or enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of LenderDocuments.

Appears in 2 contracts

Samples: Loan Agreement (Brookdale Living Communities Inc), Loan Agreement (Brookdale Living Communities Inc)

Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling Pooling and servicing agreement Servicing Agreement or similar agreement entered into as a result of a SecuritizationSecondary Market Transaction, the Cash Management Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower Borrowers shall pay any reasonable fees and expenses of the Servicer in connection with a release or substitution of the Propertyany Collateral Properties, assumption or modification of the Loan, enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of Lender.

Appears in 2 contracts

Samples: Loan Agreement (Westfield America Inc), Loan Agreement (Westfield America Inc)

Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling and servicing agreement or similar agreement entered into as a result of a SecuritizationSecondary Market Transaction, the Cash Management Deposit Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower Borrowers shall pay any reasonable fees and expenses of the Servicer in connection with a release of the any Property, assumption or modification of the Loan, enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of Lender.

Appears in 2 contracts

Samples: Loan Agreement (Supertel Hospitality Inc), Loan Agreement (Humphrey Hospitality Trust Inc)

Retention of Servicer. Lender reserves the right to retain the Servicer a servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer servicer by Lender, whether pursuant to the terms of this Agreement, any pooling and servicing agreement or similar agreement entered into as a result of a SecuritizationMortgage, the Cash Management Collateral Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer in connection with a release of the Property, assumption or modification of the Loan, enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of Lender.

Appears in 1 contract

Samples: And Attornment Agreement (Homestead Village Inc)

Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling and servicing agreement or similar agreement entered into as a result of a SecuritizationSecondary Market Transaction, the Cash Management Deposit Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer in connection with a release of the Property, assumption or modification of the Loan, enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of Lender.

Appears in 1 contract

Samples: Loan Agreement (Amerivest Properties Inc)

Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling and servicing agreement or similar agreement entered into as a result of a Securitization, the Cash Management Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower Borrowers shall pay any reasonable fees and expenses of the Servicer in connection with a release of the Property, assumption or modification of the Loan, enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of Lender.

Appears in 1 contract

Samples: Loan Agreement (Maguire Properties Inc)

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Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling and servicing agreement or similar agreement entered into as a result of a Securitization, the Cash Management Deposit Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer in connection with a release of the Property, assumption or modification of the Loan, enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of Lender.

Appears in 1 contract

Samples: Loan Agreement (Maguire Properties Inc)

Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling the Pooling and servicing agreement Servicing Agreement or similar agreement entered into as a result of a Securitization, the Cash Management Collateral Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower Borrowers shall pay any reasonable fees and expenses of the Servicer in connection with a release or addition of the a Property, assumption or modification of the Loan, Loan or enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of LenderDocuments.

Appears in 1 contract

Samples: Loan Agreement (Prime Retail Lp)

Retention of Servicer. . Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling and servicing agreement or similar agreement entered into as a result of a Securitization, the Cash Management Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer in connection with a release of the Property, assumption or modification of the Loan, enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of Lender.

Appears in 1 contract

Samples: Loan Agreement (Maguire Properties Inc)

Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling Pooling and servicing agreement Servicing Agreement or similar agreement entered into as a result of a SecuritizationSecondary Market Transaction, the Cash Management Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer in connection with a release of the Collateral Property, assumption or modification of the Loan, enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of Lender.

Appears in 1 contract

Samples: Loan Agreement (Westfield America Inc)

Retention of Servicer. Lender reserves the right to retain the --------------------- Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling and servicing agreement or similar agreement entered into as a result of a SecuritizationSecondary Market Transaction, the Cash Management Deposit Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer in connection with a release of the Property, assumption or modification of the Loan, enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of Lender.

Appears in 1 contract

Samples: Loan Agreement (Konover Property Trust Inc)

Retention of Servicer. (a) Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling and servicing agreement or similar agreement entered into as a result of a Securitization, the Cash Management Agreement Secondary Market Transaction or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer in connection with a release of any portion of the PropertyCollateral, assumption or modification of the Loan, enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of Lender.

Appears in 1 contract

Samples: Management Agreement (KBS Real Estate Investment Trust, Inc.)

Retention of Servicer. Lender reserves the right to retain the Servicer to act as its agent hereunder with such powers as are specifically delegated to the Servicer by Lender, whether pursuant to the terms of this Agreement, any pooling the Pooling and servicing agreement or similar agreement entered into as a result of a SecuritizationServicing Agreement, the Cash Management Deposit Account Agreement or otherwise, together with such other powers as are reasonably incidental thereto. Borrower shall pay any reasonable fees and expenses of the Servicer in connection with a Defeasance, release of the Property, assumption or modification of the Loan, Loan or enforcement of the Loan Documents or any other action taken by Servicer hereunder on behalf of LenderDocuments.

Appears in 1 contract

Samples: Loan Agreement (Fac Realty Trust Inc)

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