Common use of Special Servicer Advances Clause in Contracts

Special Servicer Advances. The Special Servicer shall not be required to make any Servicing Advances with respect to any Specially Serviced Mortgage Loan, REO Mortgage Loan or REO Property. To the extent that the Special Servicer determines that Servicing Advances will be required with 113 respect to a Specially Serviced Mortgage Loan, REO Mortgage Loan or REO Property, the Special Servicer shall notify the Master Servicer within five (5) Business Days of the need for a Servicing Advance (or, two (2) Business Days if the Special Servicer determines that a Servicing Advance shall be required on an urgent or emergency basis or, if the payment to be covered by such Servicing Advance is required to be made before such two (2) Business Days, the Special Servicer shall make such Advance itself, unless it determines that such Advance would be a Nonrecoverable Advance, in which case it shall deliver to the Master Servicer, the Trustee and the Monitoring Certificateholder a Nonrecoverable Advance Certificate). If the Special Servicer makes a Servicing Advance in accordance with the preceding sentence, the same conditions and restrictions applicable to Servicing Advances made by the Master Servicer shall apply, and the Special Servicer shall be entitled to all of the rights the Master Servicer has with respect to Servicing Advances it makes, including but not limited to, interest thereon at the Advance Rate and repayment in accordance with the terms hereof. The Special Servicer shall provide prompt written notice to the Master Servicer that the Special Servicer has made any such Servicing Advance, the amount of which shall also be included in any CMSA Loan Periodic Update File data files provided to the Master Servicer. The Master Servicer's right of reimbursement for any Servicing Advances, with interest thereon, shall be pro rata to the Special Servicer's right of reimbursement for any Servicing Advances (with interest thereon).

Special Servicer Advances. The (a) To the extent that as of the Determination Date for any month, the full amount of the Monthly Payment due in such month with respect to any Specially Serviced Mortgage Loan has not been received by the Primary Servicer or the Special Servicer, the Special Servicer shall remit to the Master Servicer on the related Primary Remittance Date for deposit into the related Master Collection Account, a P&I Advance in an amount equal to the excess of such Monthly Payment net of any Escrow Payment component over the amount received; provided, however, that the Special Servicer shall not be required to make a Nonrecoverable Advance. If the Special Servicer determines with respect to any Mortgage Loan that a P&I Advance, if made, would constitute a Nonrecoverable Advance or that it has made a Nonrecoverable Advance, it shall deliver to the Master Servicer and the Trustee a Nonrecoverable Advance Certificate. The Special Servicer shall be entitled to reimbursement for any xxxxxxxxxxxx X&X Advance pursuant to this Agreement. The Special Servicer shall make Servicing Advances from its own funds to effect the timely payment of any Property Protection Expense or Property Improvement Expense to the extent necessary to implement any Asset Strategy Report pursuant to the terms hereof; provided that the Special Servicer shall only make Servicing Advances with respect to any Specially Serviced Mortgage Loan, Loan from its own funds to the extent there are not sufficient funds in the related REO Account or the related subaccount of the Escrow Account available to cover any such expenses and as permitted under the Mortgage Loan or REO Property. To Documents and the extent Special Servicer shall not be required to make a Nonrecoverable Advance; and provided, further, that the Special Servicer determines that may only make Servicing Advances will to effect the timely payment of any Property Improvement Expense to the extent consistent with the Asset Strategy Report implemented by the Special Servicer. The Special Servicer shall be required with 113 respect entitled to a Specially Serviced Mortgage Loanreimbursement for any unreimbursed Servicing Advance made pursuant to the immediately preceding sentence pursuant to this Agreement. Notwithstanding, REO Mortgage Loan or REO Propertyany other provision hereof, the Special Servicer shall notify the Master Servicer within five (5) Business Days of the need for a Servicing Advance (or, two (2) Business Days if the Special Servicer determines that a Servicing Advance shall not be required on an urgent or emergency basis or, if entitled to the payment of interest at the Advance Rate on any Advance or portion thereof with respect to be covered by such Servicing Advance is required any Mortgage Loan subsequently determined to be made before such two (2) Business Days, the Special Servicer shall make such Advance itself, unless it determines that such Advance would be a Nonrecoverable AdvanceAdvance or remaining unreimbursed following the occurrence of the related Liquidation Event; provided, in which case it shall deliver to the Master Servicerhowever, the Trustee and the Monitoring Certificateholder a Nonrecoverable Advance Certificate). If the Special Servicer makes a Servicing Advance in accordance with the preceding sentence, the same conditions and restrictions applicable to Servicing Advances made by the Master Servicer shall apply, and that the Special Servicer shall be entitled to all of the rights any such interest if it shall certify to the Master Servicer has and the Trustee that such Advance or portion thereof became a Nonrecoverable Advance or could not be recovered from Liquidation Proceeds following such Liquidation Event as a result of the occurrence of an event which adversely affected the Mortgaged Property following the date such Advance was made or if such Advance was a Servicing Advance for Property Protection Expenses. (b) Within thirty (30) days of the Servicing Transfer Date for any Mortgage Loan to the extent the Special Servicer does not determine such a remittance would be a Nonrecoverable Advance, the Special Servicer shall remit to the related Primary Servicer from its own funds for deposit into the related Primary Collection Account an amount equal to the aggregate unreimbursed Advances with all accrued interest thereon made by such Primary Servicer with respect to such Mortgage Loan. Any such remittance shall be deemed a P&I Advance or Servicing Advances Advance, as applicable, by the Special Servicer. (c) If the Special Servicer determines, in its good faith judgment, that any amount expended or to be expended by it makesfrom its own funds pursuant to clauses (a) and (b) above is or would be a Nonrecoverable Advance, including but not limited tosuch determination shall be evidenced by a Nonrecoverable Advance Certificate delivered to the Trustee and the Master Servicer. (d) Except as otherwise set forth in clause (a) above, the Special Servicer shall be entitled to interest thereon on any Advance it made with respect to a Mortgage Loan. Such interest shall accrue at the Advance Rate and repayment in accordance with from the terms hereof. The Special Servicer shall provide prompt written notice date on which such Advance was made to the Master Servicer that but not including any Business Day on which the Special Servicer has made any such Servicing Advance, the amount of which shall also be included in any CMSA Loan Periodic Update File data files provided is reimbursed pursuant to the Master Servicer. The Master Servicer's right of reimbursement for any Servicing Advances, with interest thereon, shall be pro rata to the Special Servicer's right of reimbursement for any Servicing Advances (with interest thereon)this Agreement.

Special Servicer Advances. The (a) To the extent that as of the Determination Date for any month, the full amount of the Monthly Payment due in such month with respect to any Specially Serviced Mortgage Loan has not been received by the Master Servicer, the Special Servicer shall remit to the Master Servicer on the Master Remittance Date for deposit into the related Collection Account, a P&I Advance in an amount equal to the excess of such Monthly Payment net of any Escrow Payment component over the amount received; provided, however, that the Special Servicer shall not be required to make a Nonrecoverable Advance. If the Special Servicer determines with respect to any Mortgage Loan that a P&I Advance, if made, would constitute a Nonrecoverable Advance or that it has made a Nonrecoverable Advance, it shall deliver to the Master Servicer and the Trustee a Nonrecoverable Advance Certificate. The Special Servicer shall be entitled to reimbursement for any unreimbursed P&I Advance pursuant tx xxxx Xxxxxxxxx. The Special Servicer shall make Servicing Advances from its own funds to effect the timely payment of any Property Protection Expense or Property Improvement Expense to the extent necessary to implement any Asset Strategy Report pursuant to the terms hereof; provided that the Special Servicer shall only make Servicing Advances with respect to any Specially Serviced Mortgage Loan, Loan from its own funds to the extent there are not sufficient funds in the related REO Account or the related subaccount of the Escrow Account available to cover any such expenses and as permitted under the Mortgage Loan or REO Property. To Documents and the extent Special Servicer shall not be required to make a Nonrecoverable Advance; and provided, further, that the Special Servicer determines that may only make Servicing Advances will to effect the timely payment of any Property Improvement Expense to the extent consistent with the Asset Strategy Report implemented by the Special Servicer. The Special Servicer shall be required with 113 respect entitled to a Specially Serviced Mortgage Loan, REO Mortgage Loan or REO Propertyreimbursement for any unreimbursed Servicing Advance made pursuant to the immediately preceding sentence pursuant to this Agreement. Notwithstanding any other provision hereof, the Special Servicer shall notify the Master Servicer within five (5) Business Days of the need for a Servicing Advance (or, two (2) Business Days if the Special Servicer determines that a Servicing Advance shall not be required on an urgent or emergency basis or, if entitled to the payment of interest at the Advance Rate on any Advance or portion thereof with respect to be covered by such Servicing Advance is required any Mortgage Loan subsequently determined to be made before such two (2) Business Days, the Special Servicer shall make such Advance itself, unless it determines that such Advance would be a Nonrecoverable AdvanceAdvance or remaining unreimbursed following the occurrence of the related Liquidation Event; provided, in which case it shall deliver to the Master Servicerhowever, the Trustee and the Monitoring Certificateholder a Nonrecoverable Advance Certificate). If the Special Servicer makes a Servicing Advance in accordance with the preceding sentence, the same conditions and restrictions applicable to Servicing Advances made by the Master Servicer shall apply, and that the Special Servicer shall be entitled to all of the rights any such interest if it shall certify to the Master Servicer has and the Trustee that such Advance or portion thereof became a Nonrecoverable Advance or could not be recovered from Liquidation Proceeds following such Liquidation Event as a result of the occurrence of an event which adversely affected the Mortgaged Property following the date such Advance was made or if such Advance was a Servicing Advance for Property Protection Expenses. (b) Within thirty (30) days of the Servicing Transfer Date for any Mortgage Loan to the extent the Special Servicer does not determine such a remittance would be a Nonrecoverable Advance, the Special Servicer shall remit to the Master Servicer from its own funds for deposit into the Collection Account an amount equal to the aggregate unreimbursed Advances with all accrued interest thereon made by the Master Servicer with respect to such Mortgage Loan. Any such remittance shall be deemed a P&I Advance or Servicing Advances Advance, as applicable, by the Special Servicer. (c) If the Special Servicer determines, in its good faith judgment, that any amount expended or to be expended by it makesfrom its own funds pursuant to clauses (a) and (b) above is or would be a Nonrecoverable Advance, including but not limited tosuch determination shall be evidenced by a Nonrecoverable Advance Certificate delivered to the Trustee and the Master Servicer. (d) Except as otherwise set forth in clause (a) above, the Special Servicer shall be entitled to interest thereon on any Advance it made with respect to a Mortgage Loan. Such interest shall accrue at the Advance Rate and repayment in accordance with from the terms hereof. The Special Servicer shall provide prompt written notice date on which such Advance was made to the Master Servicer that but not including any Business Day on which the Special Servicer has made any such Servicing Advance, the amount of which shall also be included in any CMSA Loan Periodic Update File data files provided is reimbursed pursuant to the Master Servicer. The Master Servicer's right of reimbursement for any Servicing Advances, with interest thereon, shall be pro rata to the Special Servicer's right of reimbursement for any Servicing Advances (with interest thereon)this Agreement.

Special Servicer Advances. The (a) To the extent that as of the Determination Date for any month, the full amount of the Monthly Payment due in such month with respect to any Specially Serviced Mortgage Loan has not been received by the Special Servicer, the Special Servicer shall remit to the Master Servicer on the Master Remittance Date for deposit into the related Collection Account, a P&I Advance in an amount equal to the excess of such Monthly Payment net of any Escrow Payment component over the amount received; provided, however, that the Special Servicer shall not be required to make a Nonrecoverable Advance. If the Special Servicer determines with respect to any Mortgage Loan that a P&I Advance, if made, would constitute a Nonrecoverable Advance or that it has made a Nonrecoverable Advance, it shall deliver to the Master Servicer and the Trustee a Nonrecoverable Advance Certificate. The Special Servicer shall be entitled to reimbursement for any unreimbursed P&I Advance pursuant to this Agreement. The Speciax Xxxxxxxx xxxxl make Servicing Advances from its own funds to effect the timely payment of any Property Protection Expense or Property Improvement Expense to the extent necessary to implement any Asset Strategy Report pursuant to the terms hereof; provided that the Special Servicer shall only make Servicing Advances with respect to any Specially Serviced Mortgage Loan, Loan from its own funds to the extent there are not sufficient funds in the related REO Account or the related subaccount of the Escrow Account available to cover any such expenses and as permitted under the Mortgage Loan or REO Property. To Documents and the extent Special Servicer shall not be required to make a Nonrecoverable Advance; and provided, further, that the Special Servicer determines that may only make Servicing Advances will to effect the timely payment of any Property Improvement Expense to the extent consistent with the Asset Strategy Report implemented by the Special Servicer. The Special Servicer shall be required with 113 respect entitled to a Specially Serviced Mortgage Loan, REO Mortgage Loan or REO Propertyreimbursement for any unreimbursed Servicing Advance made pursuant to the immediately preceding sentence pursuant to this Agreement. Notwithstanding any other provision hereof, the Special Servicer shall notify the Master Servicer within five (5) Business Days of the need for a Servicing Advance (or, two (2) Business Days if the Special Servicer determines that a Servicing Advance shall not be required on an urgent or emergency basis or, if entitled to the payment of interest at the Advance Rate on any Advance or portion thereof with respect to be covered by such Servicing Advance is required any Mortgage Loan subsequently determined to be made before such two (2) Business Days, the Special Servicer shall make such Advance itself, unless it determines that such Advance would be a Nonrecoverable AdvanceAdvance or remaining unreimbursed following the occurrence of the related Liquidation Event; provided, in which case it shall deliver to the Master Servicerhowever, the Trustee and the Monitoring Certificateholder a Nonrecoverable Advance Certificate). If the Special Servicer makes a Servicing Advance in accordance with the preceding sentence, the same conditions and restrictions applicable to Servicing Advances made by the Master Servicer shall apply, and that the Special Servicer shall be entitled to all of the rights any such interest if it shall certify to the Master Servicer has and the Trustee that such Advance or portion thereof became a Nonrecoverable Advance or could not be recovered from Liquidation Proceeds following such Liquidation Event as a result of the occurrence of an event which adversely affected the Mortgaged Property following the date such Advance was made or if such Advance was a Servicing Advance for Property Protection Expenses. (b) Within thirty (30) days of the Servicing Transfer Date for any Mortgage Loan to the extent the Special Servicer does not determine such a remittance would be a Nonrecoverable Advance, the Special Servicer shall remit to the Master Servicer from its own funds for deposit into the Collection Account an amount equal to the aggregate unreimbursed Advances with all accrued interest thereon made by the Master Servicer with respect to such Mortgage Loan. Any such remittance shall be deemed a P&I Advance or Servicing Advances Advance, as applicable, by the Special Servicer. (c) If the Special Servicer determines, in its good faith judgment, that any amount expended or to be expended by it makesfrom its own funds pursuant to clauses (a) and (b) above is or would be a Nonrecoverable Advance, including but not limited tosuch determination shall be evidenced by a Nonrecoverable Advance Certificate delivered to the Trustee and the Master Servicer. (d) Except as otherwise set forth in clause (a) above, the Special Servicer shall be entitled to interest thereon on any Advance it made with respect to a Mortgage Loan. Such interest shall accrue at the Advance Rate and repayment in accordance with from the terms hereof. The Special Servicer shall provide prompt written notice date on which such Advance was made to the Master Servicer that but not including any Business Day on which the Special Servicer has made any such Servicing Advance, the amount of which shall also be included in any CMSA Loan Periodic Update File data files provided is reimbursed pursuant to the Master Servicer. The Master Servicer's right of reimbursement for any Servicing Advances, with interest thereon, shall be pro rata to the Special Servicer's right of reimbursement for any Servicing Advances (with interest thereon)this Agreement.

Special Servicer Advances. (a) The Special Servicer shall notify the Master Servicer in writing as soon as practicable if a Servicing Advance is required on any Specially Serviced Mortgage Loan. (b) The Special Servicer may make any Servicing Advances on a Specially Serviced Mortgage Loan only as may be required on a urgent or emergency basis. Immediately upon making such Servicing Advance, the Special Servicer shall provide the Master Servicer an Officer's Certificate (via facsimile) setting forth the details of such Servicing Advance (including, without limitation, the related Mortgage Number, the date and amount of the Servicing Advance and the purpose of such advance), upon which the Master Servicer will conclusively rely upon when reimbursing the Special Servicer. (c) The Special Servicer shall be entitled to reimbursement from the Master Servicer for such Servicing Advance (including any interest thereon at the Advance Rate) to the same extent and at the same time as such Advance would be reimbursed if such Advance had been made by the Master Servicer but in no event later than the Master Remittance Date following any such Servicing Advance; subject to the limitations set forth in Sections 4.03(a) and 4.05(c), provided that, if the Master Servicer determines that such a Servicing Advance is a Nonrecoverable Advance, the Special Servicer shall not be required to make any Servicing Advances with respect entitled to any Specially Serviced Mortgage Loanreimbursement from the Master Servicer; provided, REO Mortgage Loan or REO Property. To however, that to the extent that the Special Servicer determines that Servicing Advances will be required with 113 respect to a Specially Serviced Mortgage Loan, REO Mortgage Loan or REO Property, the Special Servicer shall notify not reimbursed by the Master Servicer within five (5) Business Days of the need for a Servicing Advance (or, two (2) Business Days if the Special Servicer determines that a Servicing Advance shall be required on an urgent or emergency basis or, if the payment to be covered by making such Servicing Advance is required to be made before such two (2) Business Days, the Special Servicer shall make such Advance itself, unless it determines that such Advance would be a Nonrecoverable Advance, in which case it shall deliver to the Master Servicer, the Trustee and the Monitoring Certificateholder a Nonrecoverable Advance Certificate). If the Special Servicer makes a Servicing Advance in accordance with the preceding sentence, the same conditions and restrictions applicable to Servicing Advances made by the Master Servicer shall apply, and the Special Servicer shall be entitled to all of reimbursement from the rights Trust Fund, subject to the Master Servicer has with respect to Servicing Advances it makesprior sentence, including but not limited to, interest thereon at the Advance Rate and repayment in accordance with the terms hereof. The Special Servicer shall provide prompt upon written notice to the Master Servicer that and the Trustee of the failure of the Master Servicer to reimburse the Special Servicer. (d) If the Special Servicer has made determines, in good faith judgment, that any such Servicing amount expended by it from its own funds pursuant to clause (b) above is a Nonrecoverable Advance, such determination shall be evidenced by a Nonrecoverable Advance Certificate delivered to the amount of which shall also be included in any CMSA Loan Periodic Update File data files provided to Trustee and the Master Servicer. The Master Servicer's right of reimbursement for . (e) Except as otherwise set forth in Section 4.05(c), the Special Servicer shall be entitled to interest on any Servicing Advances, Advance it makes with respect to a Mortgage Loan. Such interest thereon, shall be pro rata accrue at the Advance Rate from the date on which such Servicing Advance was made to but not including the Business Day on which the Special Servicer's right of reimbursement for any Servicing Advances (with interest thereon)Servicer is reimbursed pursuant to this Agreement.