Common use of Servicing of the Loan Clause in Contracts

Servicing of the Loan. Pursuant to this Agreement or the Lead Securitization Servicing Agreement, the Master Servicer (whose identity may change from time to time as provided in this Agreement or the Servicing Agreement) will be appointed as the servicer of the Mortgage Loan. Pursuant to the Lead Securitization Servicing Agreement, the Special Servicer will be appointed as the special servicer of the Mortgage Loan. The parties agree that the Servicers shall service the Mortgage Loan on behalf of the Holders. Prior to the Lead Securitization Date, the Lead Note Holder shall have the right to appoint and remove the Interim Servicer with or without cause under this Agreement and from and after the Lead Securitization Date, the Lead Note Holder shall have the right to appoint and remove the Master Servicer in accordance with the terms of the Lead Securitization Servicing Agreement. The Lead Note Holder has appointed KeyBank National Association to serve as the initial Interim Servicer. All rights and obligations of the Lead Note Holder described hereunder may be exercised by the Servicer and/or the Special Servicer (except as set forth in the preceding sentence) and, to the extent applicable, the Certificate Administrator, the Trustee or the paying agent on behalf of the Lead Note Holder and the other Holders agree to cooperate with any such Persons with respect to its exercise of such rights and obligations.

Appears in 5 contracts

Samples: Co Lender Agreement (Wells Fargo Commercial Mortgage Securities Inc), Co Lender Agreement (CSAIL 2020-C19 Commercial Mortgage Trust), Co Lender Agreement (CSAIL 2019-C15 Commercial Mortgage Trust)

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Servicing of the Loan. Pursuant to this Agreement or the Lead Securitization Servicing Agreement, the Master Servicer (whose identity may change from time to time as provided in this Agreement or the Servicing Agreement) will be appointed as the servicer of the -56- Co-Lender Agreement (Westchester) Mortgage Loan. Pursuant to the Lead Securitization Servicing Agreement, the Special Servicer will be appointed as the special servicer of the Mortgage Loan. The parties agree that the Servicers shall service the Mortgage Loan on behalf of the Holders. Prior to the Lead Securitization Date, the Lead Note Holder shall have the right to appoint and remove the Interim Servicer with or without cause under this Agreement and from and after the Lead Securitization Date, the Lead Note Holder shall have the right to appoint and remove the Master Servicer in accordance with the terms of the Lead Securitization Servicing Agreement. The Lead Note Holder has appointed KeyBank National Association to serve as the initial Interim Servicer. All rights and obligations of the Lead Note Holder described hereunder may be exercised by the Master Servicer and/or the Special Servicer (except as set forth in the preceding sentence) and, to the extent applicable, the Certificate Administrator, the Trustee or the paying agent on behalf of the Lead Note Holder and the other Holders agree to cooperate with any such Persons with respect to its exercise of such rights and obligations.

Appears in 4 contracts

Samples: Co Lender Agreement (3650R 2021-Pf1 Commercial Mortgage Trust), Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2021-C60), Co Lender Agreement (CSAIL 2021-C20 Commercial Mortgage Trust)

Servicing of the Loan. Pursuant to this Agreement or the Lead Securitization Servicing Agreement, the Master Servicer (whose identity may change from time to time as provided in this Agreement or the Servicing Agreement) will be appointed as the servicer of the Mortgage Loan. Pursuant to the Lead Securitization Servicing Agreement, the Special Servicer will be appointed as the special servicer of the Mortgage Loan. The parties agree that the Servicers shall service the Mortgage Loan on behalf of the Holders. Prior to the Lead Securitization Date, the Lead Note Holder shall have the right to appoint and remove the Interim Servicer with or without cause under this Agreement and from and after the Lead Securitization Date, the Lead Note Holder shall have the right to appoint and remove the Master Servicer in accordance with the terms of the Lead Securitization Servicing Agreement. The Lead Note Holder has appointed KeyBank National Association to serve as the initial Interim Servicer. All rights and obligations of the Lead Note Holder described hereunder may be exercised by the Master Servicer and/or the Special Servicer (except as set forth in the preceding sentence) and, to the extent applicable, the Certificate Administrator, the Trustee or the paying agent on behalf of the Lead Note Holder and the other Holders agree to cooperate with any such Persons with respect to its exercise of such rights and obligations.

Appears in 1 contract

Samples: Co Lender Agreement (Wells Fargo Commercial Mortgage Trust 2021-C61)

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Servicing of the Loan. Pursuant to this Agreement or the Lead Securitization Servicing Agreement, the Master Servicer (whose identity may change from time to time as provided in this Agreement or the Servicing Agreement) will be appointed as the servicer of the Mortgage Loan. Pursuant to the Lead Securitization Servicing Agreement, the Special Servicer will be appointed as the special servicer of the Mortgage Loan. The parties agree that the Servicers shall service the Mortgage Loan on behalf of the Holders. Prior to the Lead Securitization Date, the Lead Note Holder shall have the right to appoint and remove the Interim Servicer with or without cause under this Agreement and from and after the Lead Securitization Date, the Lead Note Holder shall have the right to appoint and remove the Master Servicer in accordance with the terms of the Lead Securitization Servicing Agreement. The Lead Note Holder has appointed KeyBank National Association to serve as the initial Interim Servicer. All rights and obligations of the Lead Note Holder described hereunder may be exercised by the Servicer and/or the Special Servicer (except as set forth in the preceding sentence) and, to the extent Co-Lender Agreement (One California Plaza) applicable, the Certificate Administrator, the Trustee or the paying agent on behalf of the Lead Note Holder and the other Holders agree to cooperate with any such Persons with respect to its exercise of such rights and obligations.

Appears in 1 contract

Samples: Co Lender Agreement (CSAIL 2017-Cx10 Commercial Mortgage Trust)

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