Common use of Servicing Standard; Commencement of Servicing Responsibilities Clause in Contracts

Servicing Standard; Commencement of Servicing Responsibilities. KRECM hereby engages the Subservicer to perform, and the Subservicer hereby agrees to perform, the servicing duties and obligations of the master servicer under each PSA with respect to the Mortgage Loans, beginning on each applicable Effective Date and continuing throughout the term of, subject to the Relevant Servicing Criteria, and otherwise upon and subject to the terms, covenants and provisions of, this Agreement. Pools of mortgage loans will become “Mortgage Loans” and serviced pursuant to this Agreement from time to time pursuant to each Acknowledgement Agreement as of each applicable Effective Date. The Subservicer shall service and administer each Mortgage Loan in accordance with the applicable “Servicing Standard” or “