Common use of Rights of the Non-Directing Holders Clause in Contracts

Rights of the Non-Directing Holders. (a) The Note A-1 PSA shall provide that the Servicer shall be required: (i) to provide copies of the same notices, information and reports that it is required to provide to the Directing Holder pursuant to the Servicing Agreement with respect to any Major Actions or the implementation of any recommended actions outlined in an Asset Status Report relating to the Mortgage Loan to the Non-Directing Holders (but without regard to whether or not the Directing Holder actually has lost any rights to receive such information as a result of a Consultation Termination Event), within the same time frame as specified with respect to the Directing Holder (but without regard to whether or not the Directing Holder actually has lost any rights to receive such information as a result of a Consultation Termination Event), provided, however, that if Note X-0, Xxxx X-0 or Note A-4 has been included in a Securitization transaction, then for any information for which the Special Servicer would be required to provide to such

Appears in 2 contracts

Samples: Co Lender Agreement (COMM 2016-Ccre28 Mortgage Trust), Co Lender Agreement (CFCRE 2016-C3 Mortgage Trust)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!