Common use of Section 303 Clause in Contracts

Section 303. The Primary Servicer may not waive any Penalty Charges that the Master Servicer is permitted to waive under Section 3.03 of the Pooling and Servicing Agreement without the consent of the Master Servicer. The Primary Servicer shall forward to the Master Servicer a copy of all income statements, rent rolls and other reporting information collected by the Primary Servicer within the timeframe set forth in Section 3.01(c)(35) of this Agreement. The Primary Servicer shall promptly notify the Master Servicer of any defaults under the Serviced Loan Combination, collection issues or customer issues; provided that the Primary Servicer shall not take any action with respect to enforcing the Serviced Loan Combination without the prior written approval of the Master Servicer.

Section 303. The Primary Servicer may not waive any Penalty Charges that the Master Servicer is permitted to waive under Section 3.03 of the Pooling and Servicing Agreement without the consent of the Master Servicer. The Primary Servicer shall forward to the Master Servicer a copy of all income statements, rent rolls and other reporting information collected by the Primary Servicer within the timeframe set forth in Section 3.01(c)(353.01(c)(32) of this Agreement. The Primary Servicer shall promptly notify the Master Servicer of any defaults under the Serviced Loan Combinationany Mortgage Loan, collection issues or customer issues; provided that the Primary Servicer shall not take any action with respect to enforcing the Serviced any Mortgage Loan Combination without the prior written approval of the Master Servicer.