Common use of Section 303 Clause in Contracts

Section 303. The Primary Servicer may not waive late payment charges, Default Interest or Excess Interest 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 operating statements, income statements, budgets and rent rolls collected by the Primary Servicer within the timeframe set forth in Section 3.01(c)(26) of this Agreement. The Primary Servicer shall promptly notify the Master Servicer of any defaults under any Mortgage Loan, collection issues or customer issues; provided that the Primary Servicer shall not take any action with respect to enforcing any Mortgage Loan without the prior written approval of the Master Servicer.

Section 303. The Primary Servicer may not waive late payment charges, Default Interest or Excess Interest 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 promptly (but in no event later than thirty (30) days after the related collection) forward to the Master Servicer a copy of all operating statements, income statements, budgets and rent rolls collected by the Primary Servicer within the timeframe set forth in Section 3.01(c)(26) of this AgreementServicer. The Primary Servicer shall promptly notify the Master Servicer of any defaults under any the Mortgage LoanLoans, collection issues or customer issues; provided that the Primary Servicer shall not take any action with respect to enforcing any Mortgage Loan without the prior written approval of the Master Servicer.

Section 303. The Primary Servicer may not waive late payment charges, Default Interest or Excess Interest 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 operating statements, income statements, budgets and rent rolls collected by the Primary Servicer within the timeframe set forth in Section 3.01(c)(26) of this Agreement. The Primary Servicer shall promptly notify the Master Servicer of any defaults under any Mortgage Loanthe Serviced Loan Combination, collection issues or customer issues; provided that the Primary Servicer shall not take any action with respect to enforcing any Mortgage the Serviced Loan Combination without the prior written approval of the Master Servicer.