Significant Obligor. With respect to any Companion Loan that the applicable Other Depositor has notified the Servicer in writing that the Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”) with respect to an Other Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor for any calendar quarter (other than the fourth calendar quarter of any calendar year), beginning with the first calendar quarter following receipt of notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust exists, or the updated financial statements of such Significant Obligor for any calendar year, beginning for the calendar year following such notice from the Other Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization Trust, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or four (4) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen (14) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor, together with the net operating income of such Significant Obligor for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen (14) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor, together with the net operating income of such Significant Obligor for the applicable period as reported by the related Mortgagor in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer (i) shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) shall (and shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial information, and (iii) if unsuccessful, shall, no later than five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or the related Significant Obligor NOI Yearly Filing Deadline, as applicable, forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust.
Appears in 18 contracts
Samples: Trust and Servicing Agreement (CSAIL 2021-C20 Commercial Mortgage Trust), Trust and Servicing Agreement (BBCMS Mortgage Trust 2021-C9), Trust and Servicing Agreement (Benchmark 2021-B23 Mortgage Trust)
Significant Obligor. With respect to any Companion Loan that the applicable Other Depositor has notified the Servicer in writing that the Property is constitutes a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”) with respect to an Other Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor for any calendar quarter (other than the fourth calendar quarter of any calendar year), beginning with the first calendar quarter following receipt of notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust exists, or the updated financial statements of such Significant Obligor for any calendar year, beginning for the calendar year following such notice from the Other Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization Trust, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or four (4) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen (14) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor, together with the net operating income of such Significant Obligor for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen (14) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor, together with the net operating income of such Significant Obligor for the applicable period as reported by the related Mortgagor in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer (i) shall use efforts consistent with the Accepted Servicing Standard Practice (taking into account, in addition, the ongoing reporting obligations of the related Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) shall (and shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial information, and (iii) if unsuccessful, shall, no later than five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or the related Significant Obligor NOI Yearly Filing Deadline, as applicable, forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust.
Appears in 11 contracts
Samples: Trust and Servicing Agreement (Benchmark 2024-V10 Mortgage Trust), Trust and Servicing Agreement (BBCMS Mortgage Trust 2024-5c29), Trust and Servicing Agreement (Bank5 2024-5yr9)
Significant Obligor. With respect to any the Mortgaged Property and a Companion Loan that Loan, if the applicable Other Depositor has notified the Servicer and Special Servicer in writing that the Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”together with notification of the Relevant Distribution Date) with respect to an the applicable Other Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year) from the Borrower (in the case of the Whole Loan when it is not a Specially Serviced Whole Loan) or the Special Servicer (in the case of the Whole Loan when it is a Specially Serviced Whole Loan), beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsDepositor, or the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for the calendar year following receipt of such notice from the Other Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustDepositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or four seven (47) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen seventeen (1417) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer (or by the Special Servicer and provided to the Servicer in the case of a Specially Serviced Whole Loan or Foreclosed Property) in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen seventeen (1417) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statementsstatements (or as reported by the Borrower to the Special Servicer and provided by the Special Servicer to the Servicer in the case of a Specially Serviced Whole Loan or as reported by the Special Servicer with respect to Foreclosed Property and provided by the Special Servicer to the Servicer). If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by such “significant obligor” within ten (10) Business Days after the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer shall notify the Other Depositor with respect to such Other Securitization Trust that includes the related Companion Loan (iand shall cause each applicable sub-servicing agreement to require any related Sub-Servicer to notify such Other Depositor) that it has not received such financial information. The Servicer (in the case of the Whole Loan when it is not a Specially Serviced Whole Loan) or the Special Servicer (in the case of the Whole Loan when it is a Specially Serviced Whole Loan) shall use efforts consistent with the Accepted Servicing Standard Practices (taking into account, in addition, the ongoing reporting obligations of the related such Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, . The Servicer (iiin the case of the Whole Loan when it is not a Specially Serviced Whole Loan) or the Special Servicer (in the case of the Whole Loan when it is a Specially Serviced Whole Loan) shall (and shall cause each applicable Subsub-Servicing Agreement servicing agreement entered into after receipt of written notice from the Other Depositor that such Companion Loan is a significant obligor to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower related to any such “significant obligor” (identified to it as such by the Other Depositor in accordance with the second preceding paragraph) to obtain the required financial informationinformation and is unsuccessful and, and (iii) if unsuccessful, shall, no later than within five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline date in which a Form 10-D or the related Significant Obligor NOI Yearly Filing DeadlineForm 10-K, as applicable, is required to be filed by the Other Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust. This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Other Pooling and Servicing Agreement.
Appears in 7 contracts
Samples: Trust and Servicing Agreement (Benchmark 2022-B35 Mortgage Trust), Trust and Servicing Agreement (Bank 2022-Bnk41), Trust and Servicing Agreement (Benchmark 2022-B34 Mortgage Trust)
Significant Obligor. With respect to any Companion Loan that the applicable If an Other Depositor has notified the Servicer in writing that the Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”) with respect to an Other Securitization Trust that includes such Companion LoanLoan and of the distribution date under the Other Pooling and Servicing Agreement, to the extent that Servicer shall, if the Servicer is in receipt of (i) the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year), beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsDepositor, or (ii) the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for with the calendar year following such notice from the Other Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustTrustee, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or four seven (47) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen seventeen (1417) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor“significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and or (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen seventeen (1417) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor“significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Loan Borrower in such financial statementsstatement. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by such “significant obligor” within ten (10) Business Days after the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer shall notify the Other Depositor with respect to such Other Securitization Trust that includes the related Companion Loan (iand shall cause each applicable sub-servicing agreement to require any related Sub-Servicer to notify such Other Depositor) that it has not received them. The Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related such Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Loan Borrower under the Mortgage Loan Documents, (ii) . The Servicer shall (and shall cause each applicable Subsub-Servicing Agreement servicing agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Loan Borrower to obtain the required financial informationinformation and is unsuccessful and, and (iii) if unsuccessful, shall, no later than within five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline date in which a Form 10-D or the related Significant Obligor NOI Yearly Filing DeadlineForm 10-K, as applicable, is required to be filed with respect to the Other Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust. This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Other Pooling and Servicing Agreement.
Appears in 7 contracts
Samples: Trust and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2021-C61), Trust and Servicing Agreement (3650R 2021-Pf1 Commercial Mortgage Trust), Trust and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2021-C60)
Significant Obligor. With respect to any Companion Loan that the applicable If an Other Depositor has notified the Servicer in writing that the a Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”) with respect to an Other Securitization Trust that includes such Companion LoanLoan and of the distribution date under the Other Pooling and Servicing Agreement, to the extent that Servicer shall, if the Servicer is in receipt of (i) the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year), beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsDepositor, or (ii) the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for with the calendar year following such notice from the Other Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustTrustee, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or four seven (47) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen seventeen (1417) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor“significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and or (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen seventeen (1417) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor“significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Loan Borrower in such financial statementsstatement. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by such “significant obligor” within ten Business Days after the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer shall notify the Other Depositor with respect to such Other Securitization Trust that includes the related Companion Loan (iand shall cause each applicable sub-servicing agreement to require any related Sub-Servicer to notify such Other Depositor) that it has not received them. The Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related such Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Loan Borrower under the Mortgage Loan Documents, (ii) . The Servicer shall (and shall cause each applicable Subsub-Servicing Agreement servicing agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Loan Borrower to obtain the required financial informationinformation and is unsuccessful and, and (iii) if unsuccessful, shall, no later than within five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline date in which a Form 10-D or the related Significant Obligor NOI Yearly Filing DeadlineForm 10-K, as applicable, is required to be filed with respect to the Other Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust. This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Other Pooling and Servicing Agreement.
Appears in 7 contracts
Samples: Trust and Servicing Agreement (CSAIL 2017-Cx10 Commercial Mortgage Trust), Trust and Servicing Agreement (CSAIL 2017-Cx9 Commercial Mortgage Trust), Trust and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2017-C39)
Significant Obligor. With respect to any If a Companion Loan that the applicable Other Depositor has notified the Servicer and Special Servicer in writing that the Mortgaged Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”together with notification of the Relevant Distribution Date) with respect to an Other a Companion Loan Securitization Trust that includes such Senior Pari Passu Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year)) from the Mortgagor or Special Servicer, beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsCompanion Loan Depositor, or the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for the calendar year following such notice from the Other Companion Loan Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustCompanion Loan Depositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor “significant obligor” NOI Quarterly Filing Deadline or four seven (47) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen seventeen (1417) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business Days Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen seventeen (1417) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer (i) shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) shall (and shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial information, and (iii) if unsuccessful, shall, no later than five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or the related Significant Obligor NOI Yearly Filing Deadline, as applicable, forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust.
Appears in 5 contracts
Samples: Trust and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-P6), Trust and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-P5), Trust and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2016-C30)
Significant Obligor. With respect to any If a Companion Loan that the applicable Other Depositor has notified the Servicer and Special Servicer in writing that the Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”together with notification of the Relevant Distribution Date) with respect to an Other a Companion Loan Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year)) from the Borrower or Special Servicer, beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsCompanion Loan Depositor, or the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for the calendar year following such notice from the Other such Companion Loan Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustCompanion Loan Depositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor “significant obligor” NOI Quarterly Filing Deadline or four (4) seven Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) 12 or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen (14) 17 or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) 12 Business Days Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen (14) 17 Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer (i) shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) shall (and shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial information, and (iii) if unsuccessful, shall, no later than five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or the related Significant Obligor NOI Yearly Filing Deadline, as applicable, forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust.
Appears in 4 contracts
Samples: Trust and Servicing Agreement (BBCMS Mortgage Trust 2019-C5), Trust and Servicing Agreement (UBS Commercial Mortgage Trust 2019-C17), Trust and Servicing Agreement (BBCMS Mortgage Trust 2019-C4)
Significant Obligor. With respect to any Companion Loan that the applicable If an Other Depositor has notified the Servicer in writing that the a Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”) with respect to an Other Securitization Trust that includes such Companion LoanLoan and of the distribution date under the Other Pooling and Servicing Agreement, to the extent that Servicer shall, if the Servicer is in receipt of (i) the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year), beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsDepositor, or (ii) the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for with the calendar year following such notice from the Other Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustTrustee, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or four seven (47) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen seventeen (1417) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor“significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and or (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen seventeen (1417) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor“significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statementsstatement. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by such “significant obligor” within ten Business Days after the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer shall notify the Other Depositor with respect to such Other Securitization Trust that includes the related Companion Loan (iand shall cause each applicable sub-servicing agreement to require any related Sub-Servicer to notify such Other Depositor) that it has not received them. The Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related such Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Loan Borrower under the Mortgage Loan Documents, (ii) . The Servicer shall (and shall cause each applicable Subsub-Servicing Agreement servicing agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Loan Borrower to obtain the required financial informationinformation and is unsuccessful and, and (iii) if unsuccessful, shall, no later than within five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline date in which a Form 10-D or the related Significant Obligor NOI Yearly Filing DeadlineForm 10-K, as applicable, is required to be filed with respect to the Other Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust. This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Other Pooling and Servicing Agreement.
Appears in 3 contracts
Samples: Trust and Servicing Agreement (JPMDB Commercial Mortgage Securities Trust 2017-C5), Trust and Servicing Agreement (GS Mortgage Securities Trust 2017-Gs5), Trust and Servicing Agreement (GS Mortgage Securities Trust 2015-Gs1)
Significant Obligor. With respect to any Property that secures the Companion Loan Loans that the applicable Other Depositor has notified the Servicer and Special Servicer in writing that the Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”together with notification of the Relevant Distribution Date) with respect to an Other Securitization Trust that includes such a Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year)) from the Borrower or Special Servicer, beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsDepositor, or the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for the calendar year following such notice from the Other Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustDepositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or four seven (47) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (Ai) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen seventeen (1417) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (Bii) if such financial statement receipt occurs less than twelve (12) Business Days Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen seventeen (1417) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by such “significant obligor” within ten (10) Business Days after the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer shall notify the Other Depositor with respect to such Other Securitization Trust that includes a Companion Loan (iand shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer to notify such Other Depositor) that it has not received such financial information. The Servicer shall use efforts consistent with the Accepted Servicing Standard Practices (taking into account, in addition, the ongoing reporting obligations of the related such Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) . The Servicer shall (and shall cause each applicable Sub-Servicing Agreement entered into after receipt of written notice from the Other Depositor that a Companion Loan is a significant obligor to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower related to any such “significant obligor” (identified to it as such by the Other Depositor in accordance with the second preceding paragraph) to obtain the required financial informationinformation and is unsuccessful and, and (iii) if unsuccessful, shall, no later than within five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline date in which a Form 10-D or the related Significant Obligor NOI Yearly Filing DeadlineForm 10-K, as applicable, is required to be filed by the Other Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust. This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Other Pooling and Servicing Agreement.
Appears in 3 contracts
Samples: Trust and Servicing Agreement (Morgan Stanley Capital I Trust 2016-Bnk2), Trust and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2016-C31), Trust and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2016-C30)
Significant Obligor. With respect to any If a Companion Loan that the applicable Other Depositor has notified the Servicer and Special Servicer in writing that the Mortgaged Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”together with notification of the Relevant Distribution Date) with respect to an Other a Senior Companion Loan Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year)) from the Mortgagor or Special Servicer, beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsSenior Companion Loan Depositor, or the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for the calendar year following such notice from the Other such Senior Companion Loan Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustSenior Companion Loan Depositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor “significant obligor” NOI Quarterly Filing Deadline or four (4) seven Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) 12 or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen (14) 17 or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) 12 Business Days Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen (14) 17 Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer (i) shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) shall (and shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial information, and (iii) if unsuccessful, shall, no later than five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or the related Significant Obligor NOI Yearly Filing Deadline, as applicable, forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust.
Appears in 2 contracts
Samples: Trust and Servicing Agreement (BBCMS Mortgage Trust 2019-C5), Trust and Servicing Agreement (BBCMS Mortgage Trust 2019-C3)
Significant Obligor. With respect to any If a Companion Loan that the applicable Other Depositor has notified the Servicer and Special Servicer in writing that the Mortgaged Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”together with notification of the Relevant Distribution Date) with respect to an Other a Companion Loan Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year)) from the Mortgagor or Special Servicer, beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsCompanion Loan Depositor, or the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for the calendar year following such notice from the Other Companion Loan Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustCompanion Loan Depositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor “significant obligor” NOI Quarterly Filing Deadline or four seven (47) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) 12 or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen (14) 17 or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) 12 Business Days Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen (14) 17 Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer (i) shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) shall (and shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial information, and (iii) if unsuccessful, shall, no later than five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or the related Significant Obligor NOI Yearly Filing Deadline, as applicable, forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust.
Appears in 2 contracts
Samples: Trust and Servicing Agreement (CSAIL 2018-C14 Commercial Mortgage Trust), Trust and Servicing Agreement (UBS Commercial Mortgage Trust 2018-C12)
Significant Obligor. With respect to any Companion Loan that the applicable Other Depositor has notified the Servicer in writing that the Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”) with respect to an Other Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in shall, after receipt of updated net operating income information for the updated Property, (x) promptly deliver the financial statements of such Significant Obligor for any calendar quarter (other than the fourth calendar quarter of any calendar year), beginning with the first calendar quarter following receipt of notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust exists, or the updated financial statements of such Significant Obligor for any calendar year, beginning for the calendar year following such notice from the Other Depositor, as applicable, the Servicer shall deliver “significant obligor” to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization Trust, on or prior Trust and (y) update the following columns related to the day that occurs two “significant obligor” of the CREFC Loan Periodic Update File for (2i) the next applicable Distribution Date if the Servicer receives such updated net operating income information at least ten (10) Business Days prior to the Determination Date related Significant Obligor NOI Quarterly Filing Deadline to such Distribution Date or four (4ii) Business Days the second succeeding Distribution Date if the Master Servicer does not receive such updated net operating income information prior to the related Significant Obligor NOI Yearly Filing Deadlinedate set forth in clause (i): BB, BP, BT and BU (corresponding fields 54 – “Preceding Fiscal Year NOI,” 68 – “Most Recent NOI,” 72 – “Most Recent Financial As of Start Date” and 73 – “Most Recent Financial As of End Date”), as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior column references and field numbers may change from time to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen (14) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor, together with the net operating income of such Significant Obligor for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen (14) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor, together with the net operating income of such Significant Obligor for the applicable period as reported by the related Mortgagor in such financial statementstime. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by such “significant obligor” within ten Business Days after the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer shall notify the Other Depositor with respect to such Other Securitization Trust that includes the related Companion Loan (iand shall cause each applicable sub-servicing agreement to require any related Sub-Servicer to notify such Other Depositor) that it has not received them. The Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related such Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) . The Servicer shall (and shall cause each applicable Subsub-Servicing Agreement servicing agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial informationinformation and is unsuccessful and, and (iii) if unsuccessful, shall, no later than within five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline date in which a Form 10-D or the related Significant Obligor NOI Yearly Filing DeadlineForm 10-K, as applicable, is required to be filed with respect to the Other Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust. This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Other Pooling and Servicing Agreement.
Appears in 2 contracts
Samples: Trust and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2015-C28), Trust and Servicing Agreement (Deutsche Mortgage & Asset Receiving Corp)
Significant Obligor. With respect to any Companion Loan that the applicable If an Other Depositor has notified the Servicer in writing that the a Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”) with respect to an Other Securitization Trust that includes such Companion LoanLoan and of the distribution date under the Other Pooling and Servicing Agreement, to the extent that Servicer shall, if the Servicer is in receipt of (i) the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year), beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsDepositor, or (ii) the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for with the calendar year following such notice from the Other Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustTrustee, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or four seven (47) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen seventeen (1417) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor“significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and or (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen seventeen (1417) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor“significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statementsstatement. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by such “significant obligor” within ten Business Days after the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer shall notify the Other Depositor with respect to such Other Securitization Trust that includes the related Companion Loan (iand shall cause each applicable sub-servicing agreement to require any related Sub-Servicer to notify such Other Depositor) that it has not received them. The Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related such Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower Loan Borrowers under the Mortgage Loan Documents, (ii) . The Servicer shall (and shall cause each applicable Subsub-Servicing Agreement servicing agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower Loan Borrowers to obtain the required financial informationinformation and is unsuccessful and, and (iii) if unsuccessful, shall, no later than within five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline date in which a Form 10-D or the related Significant Obligor NOI Yearly Filing DeadlineForm 10-K, as applicable, is required to be filed with respect to the Other Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust. This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Other Pooling and Servicing Agreement.
Appears in 2 contracts
Samples: Trust and Servicing Agreement (GS Mortgage Securities Trust 2016-Gs3), Trust and Servicing Agreement (Gs Mortgage Securities Corp Ii)
Significant Obligor. With respect to any If a Companion Loan that the applicable Other Depositor has notified the Servicer and Special Servicer in writing that the Mortgaged Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”together with notification of the Relevant Distribution Date) with respect to an Other a Senior Companion Loan Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year)) from the Mortgagor or Special Servicer, beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsSenior Companion Loan Depositor, or the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for the calendar year following such notice from the Other such Senior Companion Loan Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustSenior Companion Loan Depositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor “significant obligor” NOI Quarterly Filing Deadline or four seven (47) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen seventeen (1417) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business Days Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen seventeen (1417) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer (i) shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) shall (and shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial information, and (iii) if unsuccessful, shall, no later than five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or the related Significant Obligor NOI Yearly Filing Deadline, as applicable, forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust.
Appears in 2 contracts
Samples: Trust and Servicing Agreement (CSAIL 2018-Cx11 Commercial Mortgage Trust), Trust and Servicing Agreement (UBS Commercial Mortgage Trust 2017-C7)
Significant Obligor. With respect to any If a Companion Loan that the applicable Other Depositor has notified the Servicer and Special Servicer in writing that the Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”together with notification of the Relevant Distribution Date) with respect to an Other a Companion Loan Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year)) from the Borrower or Special Servicer, beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsCompanion Loan Depositor, or the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for the calendar year following such notice from the Other such Companion Loan Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustCompanion Loan Depositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor “significant obligor” NOI Quarterly Filing Deadline or four (4) seven Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) 12 or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen (14) 17 or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) 12 Business Days Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen (14) 17 Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by such “significant obligor” within ten (10) Business Days after the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer shall notify the Companion Loan Depositor with respect to such Companion Loan Securitization Trust that includes the related Companion Loan (iand shall cause each applicable sub-servicing agreement to require any related Sub-Servicer to notify such Companion Loan Depositor) that it has not received such financial information. The Servicer (in the case of the Whole Loan when it is not a Specially Serviced Loan) or the Special Servicer (in the case of the Whole Loan when it is a Specially Serviced Loan) shall use efforts consistent with the Accepted Servicing Standard Practices (taking into account, in addition, the ongoing reporting obligations of the related Other such Companion Loan Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, . The Servicer (iiin the case of the Whole Loan when it is not a Specially Serviced Loan) or the Special Servicer (in the case of the Whole Loan when it is a Specially Serviced Loan) shall (and shall cause each applicable Subsub-Servicing Agreement servicing agreement entered into after receipt of written notice from the Companion Loan Depositor that such Companion Loan is a significant obligor to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower related to any such “significant obligor” (identified to it as such by the Companion Loan Depositor in accordance with the second preceding paragraph) to obtain the required financial informationinformation and is unsuccessful and, and (iii) if unsuccessful, shall, no later than within five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline date in which a Form 10-D or the related Significant Obligor NOI Yearly Filing DeadlineForm 10-K, as applicable, is required to be filed by the Companion Loan Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Companion Loan Depositor related to such Other Companion Loan Securitization Trust. This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Companion Loan Pooling and Servicing Agreement.
Appears in 2 contracts
Samples: Trust and Servicing Agreement (Bank 2020-Bnk25), Trust and Servicing Agreement (Bank 2019-Bnk23)
Significant Obligor. With respect to any If a Companion Loan that the applicable Other Depositor has notified the Servicer and Special Servicer in writing that the Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”together with notification of the Relevant Distribution Date) with respect to an Other a Senior Companion Loan Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year)) from the Borrower or Special Servicer, beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsSenior Companion Loan Depositor, or the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for the calendar year following such notice from the Other such Senior Companion Loan Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustSenior Companion Loan Depositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor “significant obligor” NOI Quarterly Filing Deadline or four (4) seven Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) 12 or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen (14) 17 or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) 12 Business Days Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen (14) 17 Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer (i) shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) shall (and shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial information, and (iii) if unsuccessful, shall, no later than five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or the related Significant Obligor NOI Yearly Filing Deadline, as applicable, forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust.
Appears in 2 contracts
Samples: Trust and Servicing Agreement (BBCMS Mortgage Trust 2019-C4), Trust and Servicing Agreement (CSAIL 2019-C15 Commercial Mortgage Trust)
Significant Obligor. With respect to any Companion Loan that the applicable If an Other Depositor has notified the Servicer in writing that the a Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”) with respect to an Other Securitization Trust that includes such Companion LoanLoan and of the distribution date under the Other Pooling and Servicing Agreement, to the extent that Servicer shall, if the Servicer is in receipt of (i) the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year), beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsDepositor, or (ii) the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for with the calendar year following such notice from the Other Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustTrustee, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or four seven (47) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen seventeen (1417) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor“significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and or (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen seventeen (1417) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor“significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Loan Borrower in such financial statementsstatement. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by such “significant obligor” within ten (10) Business Days after the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer shall notify the Other Depositor with respect to such Other Securitization Trust that includes the related Companion Loan (iand shall cause each applicable sub-servicing agreement to require any related Sub-Servicer to notify such Other Depositor) that it has not received them. The Servicer shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related such Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Loan Borrower under the Mortgage Loan Documents, (ii) . The Servicer shall (and shall cause each applicable Subsub-Servicing Agreement servicing agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Loan Borrower to obtain the required financial informationinformation and is unsuccessful and, and (iii) if unsuccessful, shall, no later than within five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline date in which a Form 10-D or the related Significant Obligor NOI Yearly Filing DeadlineForm 10-K, as applicable, is required to be filed with respect to the Other Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust. This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Other Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Trust and Servicing Agreement (CSAIL 2019-C15 Commercial Mortgage Trust)
Significant Obligor. With respect to any If a Companion Loan that the applicable Other Depositor has notified the Servicer and Special Servicer in writing that the Mortgaged Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”together with notification of the Relevant Distribution Date) with respect to an Other a Senior Companion Loan Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year)) from the Mortgagor or Special Servicer, beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsSenior Companion Loan Depositor, or the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for the calendar year following such notice from the Other Senior Companion Loan Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustSenior Companion Loan Depositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor “significant obligor” NOI Quarterly Filing Deadline or four seven (47) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen seventeen (1417) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business Days Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen seventeen (1417) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer (i) shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) shall (and shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial information, and (iii) if unsuccessful, shall, no later than five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or the related Significant Obligor NOI Yearly Filing Deadline, as applicable, forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust.
Appears in 1 contract
Samples: Trust and Servicing Agreement (UBS Commercial Mortgage Trust 2017-C1)
Significant Obligor. With respect to any the Companion Loan that the applicable Other Depositor has notified the Servicer in writing that the Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”) with respect to an Other Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in shall, after receipt of updated net operating income information for the updated Property, (x) promptly deliver the financial statements of such Significant Obligor for any calendar quarter (other than the fourth calendar quarter of any calendar year), beginning with the first calendar quarter following receipt of notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust exists, or the updated financial statements of such Significant Obligor for any calendar year, beginning for the calendar year following such notice from the Other Depositor, as applicable, the Servicer shall deliver “significant obligor” to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization Trust, on or prior Trust and (y) update the following columns related to the day that occurs two “significant obligor” of the CREFC® Loan Periodic Update File for (2i) the next applicable Distribution Date if the Servicer receives such updated net operating income information at least ten (10) Business Days prior to the Determination Date related Significant Obligor NOI Quarterly Filing Deadline to such Distribution Date or four (4ii) Business Days the second succeeding Distribution Date if the Master Servicer does not receive such updated net operating income information prior to the related Significant Obligor NOI Yearly Filing Deadlinedate set forth in clause (i): BB, BP, BT and BU (corresponding fields 54 – “Preceding Fiscal Year NOI,” 68 – “Most Recent NOI,” 72 – “Most Recent Financial As of Start Date” and 73 – “Most Recent Financial As of End Date”), as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior column references and field numbers may change from time to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen (14) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor, together with the net operating income of such Significant Obligor for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen (14) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligor, together with the net operating income of such Significant Obligor for the applicable period as reported by the related Mortgagor in such financial statementstime. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by such “significant obligor” within ten Business Days after the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer shall notify the Other Depositor with respect to such Other Securitization Trust that includes the related Companion Loan (iand shall cause each applicable sub-servicing agreement to require any related Sub-Servicer to notify such Other Depositor) that it has not received them. The Servicer shall use efforts consistent with the Accepted Servicing Standard Practices (taking into account, in addition, the ongoing reporting obligations of the related such Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) . The Servicer shall (and shall cause each applicable Subsub-Servicing Agreement servicing agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial informationinformation and is unsuccessful and, and (iii) if unsuccessful, shall, no later than within five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline date in which a Form 10-D or the related Significant Obligor NOI Yearly Filing DeadlineForm 10-K, as applicable, is required to be filed with respect to the Other Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust. This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Other Pooling and Servicing Agreement.
Appears in 1 contract
Samples: Trust and Servicing Agreement (WFRBS Commercial Mortgage Trust 2013-C18)
Significant Obligor. With respect to any If a Companion Loan that the applicable Other Depositor has notified the Servicer and Special Servicer in writing that the Mortgaged Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”together with notification of the Relevant Distribution Date) with respect to an Other a Companion Loan Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year)) from the Mortgagor or Special Servicer, beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsCompanion Loan Depositor, or the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for the calendar year following such notice from the Other Companion Loan Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustCompanion Loan Depositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor “significant obligor” NOI Quarterly Filing Deadline or four seven (47) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen seventeen (1417) or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) Business Days Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen seventeen (1417) Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer (i) shall use efforts consistent with the Servicing Standard (taking into account, in addition, the ongoing reporting obligations of the related Other Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, (ii) shall (and shall cause each applicable Sub-Servicing Agreement to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower to obtain the required financial information, and (iii) if unsuccessful, shall, no later than five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or the related Significant Obligor NOI Yearly Filing Deadline, as applicable, forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Depositor related to such Other Securitization Trust.
Appears in 1 contract
Samples: Trust and Servicing Agreement (CSAIL 2017-Cx10 Commercial Mortgage Trust)
Significant Obligor. With respect to any If a Companion Loan that the applicable Other Depositor has notified the Servicer and Special Servicer in writing that the Property is a “significant obligor” (within the meaning of Item 1101(k) of Regulation AB) (a “Significant Obligor”together with notification of the Relevant Distribution Date) with respect to an Other a Companion Loan Securitization Trust that includes such Companion Loan, to the extent that the Servicer is in receipt of the updated financial statements of such Significant Obligor “significant obligor” for any calendar quarter (other than the fourth calendar quarter of any calendar year)) from the Borrower or Special Servicer, beginning with the first calendar quarter following receipt of such notice from the Other Depositor that such Significant Obligor with respect to such Other Securitization Trust existsCompanion Loan Depositor, or the updated financial statements of such Significant Obligor “significant obligor” for any calendar year, beginning for the calendar year following such notice from the Other such Companion Loan Depositor, as applicable, the Servicer shall deliver to the Other Depositor and the Other Exchange Act Reporting Party of such Other Securitization TrustCompanion Loan Depositor, on or prior to the day that occurs two (2) Business Days prior to the related Significant Obligor “significant obligor” NOI Quarterly Filing Deadline or four (4) seven Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, (A) if such financial statement receipt occurs twelve (12) 12 or more Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline or fourteen (14) 17 or more Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as calculated by the Servicer in accordance with CREFC® guidelines and (B) if such financial statement receipt occurs less than twelve (12) 12 Business Days Day prior to the related Significant Obligor NOI Quarterly Filing Deadline or less than fourteen (14) 17 Business Days prior to the related Significant Obligor NOI Yearly Filing Deadline, as applicable, such financial statements of such Significant Obligorthe “significant obligor”, together with the net operating income of such Significant Obligor “significant obligor” for the applicable period as reported by the related Mortgagor Borrower in such financial statements. If the Servicer does not receive financial information satisfactory to comply with Item 6 of Form 10-D or Item 1112(b)(1) of Form 10-K, as the case may be, of any Significant Obligor with respect to an Other Securitization Trust by such “significant obligor” within ten (10) Business Days after the date on which such financial information is required to be delivered under the related Mortgage Loan Documents, the Servicer shall notify the Companion Loan Depositor with respect to such Companion Loan Securitization Trust that includes the related Companion Loan (iand shall cause each applicable sub-servicing agreement to require any related Sub-Servicer to notify such Companion Loan Depositor) that it has not received such financial information. The Servicer (in the case of the Whole Loan when it is not a Specially Serviced Loan) or the Special Servicer (in the case of the Whole Loan when it is a Specially Serviced Loan) shall use efforts consistent with the Accepted Servicing Standard Practices (taking into account, in addition, the ongoing reporting obligations of the related Other such Companion Loan Depositor under the Exchange Act) to obtain the periodic financial statements of the Borrower under the Mortgage Loan Documents, . The Servicer (iiin the case of the Whole Loan when it is not a Specially Serviced Loan) or the Special Servicer (in the case of the Whole Loan when it is a Specially Serviced Loan) shall (and shall cause each applicable Subsub-Servicing Agreement servicing agreement entered into after receipt of written notice from the Companion Loan Depositor that such Companion Loan is a significant obligor to require any related Sub-Servicer to) retain written evidence of each instance in which it (or a Sub-Servicer) attempts to contact the Borrower related to any such “significant obligor” (identified to it as such by the Companion Loan Depositor in accordance with the second preceding paragraph) to obtain the required financial informationinformation and is unsuccessful and, and (iii) if unsuccessful, shall, no later than within five (5) Business Days prior to the related Significant Obligor NOI Quarterly Filing Deadline date in which a Form 10-D or the related Significant Obligor NOI Yearly Filing DeadlineForm 10-K, as applicable, is required to be filed by the Companion Loan Securitization Trust, shall forward an Officer’s Certificate evidencing its attempts to obtain this information to the Other Exchange Act Reporting Party and Other Companion Loan Depositor related to such Other Companion Loan Securitization Trust. This Officer’s Certificate should be addressed to the certificate administrator at its corporate trust office, as specified in the related Companion Loan Pooling and Servicing Agreement.
Appears in 1 contract