Common use of Special Servicer Advances Clause in Contracts

Special Servicer Advances. (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 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 Documents and the Special Servicer shall not be required to make a Nonrecoverable Advance; and provided, further, that the Special Servicer may only make Servicing Advances 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 entitled to reimbursement 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 not be entitled to the payment of interest at the Advance Rate on any Advance or portion thereof with respect to any Mortgage Loan subsequently determined to be a Nonrecoverable Advance or remaining unreimbursed following the occurrence of the related Liquidation Event; provided, however, that the Special Servicer shall be entitled to any such interest if it shall certify to the Master Servicer 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.

Special Servicer Advances. (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 Master Servicer, the Special Servicer shall remit to the Master Servicer on the related Primary Master 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 unreimbursed P&I Advance pursuant to this Agreementtx 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 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 Documents and the Special Servicer shall not be required to make a Nonrecoverable Advance; and provided, further, that the Special Servicer may only make Servicing Advances 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 entitled to reimbursement for any unreimbursed Servicing Advance made pursuant to the immediately preceding sentence pursuant to this Agreement. Notwithstanding, Notwithstanding any other provision hereof, the Special Servicer shall not be entitled to the payment of interest at the Advance Rate on any Advance or portion thereof with respect to any Mortgage Loan subsequently determined to be a Nonrecoverable Advance or remaining unreimbursed following the occurrence of the related Liquidation Event; provided, however, that the Special Servicer shall be entitled to any such interest if it shall certify to the Master Servicer 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.

Special Servicer Advances. (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 Master 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 unreimbursed P&I Advance pursuant to this Agreement. The Special Servicer shall 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 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 Documents and the Special Servicer shall not be required to make a Nonrecoverable Advance; and provided, further, that the Special Servicer may only make Servicing Advances 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 entitled to reimbursement for any unreimbursed Servicing Advance made pursuant to the immediately preceding sentence pursuant to this Agreement. Notwithstanding, Notwithstanding any other provision hereof, the Special Servicer shall not be entitled to the payment of interest at the Advance Rate on any Advance or portion thereof with respect to any Mortgage Loan subsequently determined to be a Nonrecoverable Advance or remaining unreimbursed following the occurrence of the related Liquidation Event; provided, however, that the Special Servicer shall be entitled to any such interest if it shall certify to the Master Servicer 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.

Special Servicer Advances. (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 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, REO Mortgage Loan from its own funds to or REO Property. 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 Documents and the Special Servicer shall not be required to make a Nonrecoverable Advance; and provided, further, that the Special Servicer may only make determines that Servicing Advances will be required with 113 respect 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 entitled to reimbursement for any unreimbursed Servicing Advance made pursuant to the immediately preceding sentence pursuant to this Agreement. Notwithstandinga Specially Serviced Mortgage Loan, any other provision hereofREO Mortgage Loan or REO Property, the Special Servicer shall not 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 entitled to required on an urgent or emergency basis or, if the payment of interest at 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 Rate on any itself, unless it determines that such Advance or portion thereof with respect to any Mortgage Loan subsequently determined to would be a Nonrecoverable Advance, in which case it shall deliver to the Master Servicer, the Trustee and the Monitoring Certificateholder a Nonrecoverable Advance or remaining unreimbursed following Certificate). If the occurrence of Special Servicer makes a Servicing Advance in accordance with the related Liquidation Event; providedpreceding sentence, howeverthe same conditions and restrictions applicable to Servicing Advances made by the Master Servicer shall apply, that and the Special Servicer shall be entitled to any such all of the rights the Master Servicer has with respect to Servicing Advances it makes, including but not limited to, interest if it thereon at the Advance Rate and repayment in accordance with the terms hereof. The Special Servicer shall certify provide prompt written notice to the Master Servicer and that the Trustee that Special Servicer has made any such Advance or portion thereof became a Nonrecoverable Advance or could not Servicing Advance, the amount of which shall also be recovered from Liquidation Proceeds following such Liquidation Event as a result 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 occurrence Special Servicer's right of an event which adversely affected the Mortgaged Property following the date such Advance was made or if such Advance was a reimbursement for any Servicing Advance for Property Protection ExpensesAdvances (with interest thereon).