Section 3.05(a) Sample Clauses

Section 3.05(a). The Sub-Servicer shall establish a custodial account (hereinafter the “Sub-Servicer Collection Account”), meeting all of the requirements of the Collection Account, and references to the Collection Account shall be references to such Sub-Servicer Collection Account. The creation of any Sub-Servicer Collection Account shall be evidenced by a certification in the form of Exhibit F attached hereto and a copy of such certification shall be furnished to the Master Servicer on or prior to the Closing Date and thereafter to the Master Servicer upon any transfer of the Sub-Servicer Collection Account. Notwithstanding the third paragraph of Section 3.05(a) of the Pooling and Servicing Agreement, the Sub-Servicer shall deposit into the Sub-Servicer Collection Account and include in its Sub-Servicer Remittance Amount all Prepayment Interest Excess and all charges for beneficiary statements or demands, Assumption Fees, Modification Fees, extension fees or amounts collected for Mortgagor checks returned for insufficient funds collected by the Sub-Servicer to the extent not constituting Additional Sub-Servicing Compensation, including, without limitation, all Penalty Charges. Any amounts of additional servicing compensation payable to the Special Servicer pursuant to Section 3.12(c) of the Pooling and Servicing Agreement shall be remitted to the Special Servicer by the Sub-Servicer. For purposes of the last paragraph of Section 3.05(a) of the Pooling and Servicing Agreement, the Master Servicer shall direct the Special Servicer to make payment of amounts referenced therein with respect to any Specially Serviced Loans (including, but not limited to, principal payments and Principal Prepayments, interest payments, late payment charges and other Penalty Charges, and Insurance Proceeds, Condemnation Proceeds and Liquidation Proceeds, as more fully described in the Pooling and Servicing Agreement) directly to the Sub-Servicer for deposit in the Sub-Servicer Collection Account.
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Section 3.05(a). The Primary Servicer shall establish a collection account (hereinafter the “Primary Servicer Collection Account”), meeting all of the requirements of the Collection Account, and references to the Collection Account shall be references to such Primary Servicer Collection Account, as applicable. The creation of any Primary Servicer Collection Account shall be evidenced by a certification in the form of Exhibit F attached hereto and a copy of such certification shall be furnished to the Master Servicer on or prior to the Closing Date and thereafter to the Master Servicer prior to any transfer of the Primary Servicer Collection Account. The last four paragraphs of Section 3.05(a) of the Pooling and Servicing Agreement are not incorporated herein. The Primary Servicer shall deposit into the Primary Servicer Collection Account and include in its Primary Servicer Remittance Amount all Assumption Fees, assumption application fees, payments in the nature of late payment charges, Modification Fees, loan service transaction fees, extension fees, demand fees, beneficiary statement charges or similar fees (other than those to which the Primary Servicer is entitled pursuant to Section 3.01(c)(21) of this Agreement). For purposes of the second to last paragraph of Section 3.05(a) of the Pooling and Servicing Agreement, the Master Servicer shall direct the Special Servicer to make payment of amounts referenced therein directly to the Primary Servicer for deposit in the Primary Servicer Collection Account.
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Related to Section 3.05(a)

  • SECTION 308 Persons Deemed Owners.............................. 29

  • SECTION 312 The Primary Servicer shall promptly (but in no event later than thirty (30) days after the related inspection or receipt of the inspection report, which ever is later, or collection, as applicable) forward to the Master Servicer a copy of all inspection reports prepared by the Primary Servicer and all operating statements, budgets, rent rolls and financial statements collected by the Primary Servicer. The Primary Servicer may engage a third party at its cost to perform property inspections and prepare property inspection reports without first obtaining the consent of the Master Servicer; provided, however, that the Primary Servicer shall remain obligated and primarily liable to the Master Servicer for satisfactory completion of the inspections and reports as required by this Agreement. If any inspection report identifies a “life safety” or other material deferred maintenance item existing with respect to the related Mortgaged Property, the Sub-Servicer (x) shall promptly send to the related Borrower (with a copy to the Master Servicer by email to xxxxxx@xxxxxxxxxx.xxx) a letter identifying such deferred maintenance item and instructing the related Borrower to correct such deferred maintenance item and (y) shall notify the Master Servicer (by email to xxxxxx@xxxxxxxxxx.xxx) upon resolution of such life safety or deferred maintenance item.

  • Section 3.5 29 Neither the District, nor the Association, shall discriminate against any employee subject to this 30 Agreement on the basis of race, creed, color, sex, religion, age or marital status or because of a 31 disability with respect to a position, the duties of which may be performed efficiently by an individual 32 without danger to the health or safety of the disabled person or others.

  • SECTION 304 Temporary Securities.................................................... 25

  • SECTION 310 Computation of Interest.....................................32

  • SECTION 311 CUSIP Numbers...................................... 29 PAGE ARTICLE FOUR

  • SECTION 305 Registration, Registration of Transfer and Exchange..........21 SECTION 306. Mutilated, Destroyed, Lost and Stolen Securities..........

  • SECTION 508 Unconditional Right of Holders to Receive Principal, Premium and Interest.................... 36

  • SECTION 514 Undertaking for Costs.............................. 37

  • Section 504 Trustee May File Proofs of Claim................... 34 Section 505. Trustee May Enforce Claims Without Possession of Securities......................................... 35

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