Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information: (A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount thereof; (B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interest; (C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates; (D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date; (E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable; (F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date; (G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date; (H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced; (I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding; (J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed; (K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date; (L) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed; (M) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date; (N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date; (O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date; (P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date; (Q) the original Certificate Principal Amount or Notional Amount as of the Closing Date and the Certificate Principal Amount or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses; (R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date; (S) the Principal Distribution Amount for such Distribution Date; (T) the aggregate amount of Principal Prepayments made during the related Prepayment Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Period, and any Realized Loss for such Distribution Date;
Appears in 14 contracts
Samples: Pooling and Servicing Agreement (Benchmark 2021-B23 Mortgage Trust), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-Nxs3), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2015-Gc33)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) an Interest Distribution Amount (or, if applicable, the VRR Interest Distribution Amount), (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Due Period, Prepayment Collection Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) delinquent four months or more, (E) that are Specially Serviced Loans but are not delinquent or (EF) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Aggregate Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Aggregate Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Aggregate Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Non-Vertically Retained Regular Certificates for such Distribution Date, and Class PEZ Regular the VRR Interest Distribution Amount for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Non-Vertically Retained Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Non-Vertically Retained Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Non-Vertically Retained Regular Certificates and Class PEZ Regular the VRR Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses or VRR Realized Losses, as applicable;
(R) the Certificate Factor for each Class of Regular Principal Balance Certificates or and Class PEZ Regular Interest X Certificates immediately following such Distribution Date;
(S) the Principal Distribution Amount and Aggregate Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period, and any Realized Loss and VRR Realized Loss for such Distribution Date;
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (Benchmark 2019-B10 Mortgage Trust), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2019-Gc38), Pooling and Servicing Agreement (Benchmark 2019-B9 Mortgage Trust)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) an Interest Distribution Amount (or, if applicable, the VRR Interest Distribution Amount), (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Due Period, Prepayment Collection Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) delinquent four months or more, (E) that are Specially Serviced Loans but are not delinquent or (EF) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Aggregate Pooled Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Aggregate Pooled Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Aggregate Pooled Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Non-Vertically Retained Pooled Regular Certificates for such Distribution Date, and Class PEZ Regular the VRR Interest Distribution Amount for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Non-Vertically Retained Pooled Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Non-Vertically Retained Pooled Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Non-Vertically Retained Pooled Regular Certificates and Class PEZ Regular the VRR Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Principal Balance Certificates or and Class PEZ Regular Interest X Certificates immediately following such Distribution Date;
(S) the Principal Distribution Amount and Aggregate Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period, and any Realized Loss for such Distribution Date;
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (Benchmark 2019-B13 Mortgage Trust), Pooling and Servicing Agreement (UBS Commercial Mortgage Trust 2019-C17), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2019-Gc42)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Due Period, Prepayment Collection Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) delinquent four months or more, (E) that are Specially Serviced Loans but are not delinquent or (EF) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ EC Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ EC Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ EC Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ EC Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ EC Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ EC Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period, and any Realized Loss for such Distribution Date;
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-P4), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2016-C34), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-Gc37)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) an Interest Distribution Amount (or, if applicable, some or all of the VRR Interest Distribution Amount), (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Due Period, Prepayment Collection Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) delinquent four months or more, (E) that are Specially Serviced Loans but are not delinquent or (EF) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Aggregate Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Aggregate Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Aggregate Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Regular Certificates and each Class PEZ Regular Interest of Vertically Retained Certificates immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses or VRR Realized Losses, as applicable;
(R) the Certificate Factor for each Class of Regular Principal Balance Certificates or and Class PEZ Regular Interest X Certificates immediately following such Distribution Date;
(S) the Principal Distribution Amount and Aggregate Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period, and any Realized Loss and VRR Realized Loss for such Distribution Date;
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2017-P8), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2017-Gs6), Pooling and Servicing Agreement (CD 2017-Cd4 Mortgage Trust)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) an Interest Distribution Amount (or, if applicable, some or all of the VRR Interest Distribution Amount), (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Due Period, Prepayment Collection Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) delinquent four months or more, (E) that are Specially Serviced Loans but are not delinquent or (EF) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Aggregate Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Aggregate Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Aggregate Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Regular Certificates; the VRR Interest and each Class of Class V-A/B/C/D/E Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses or VRR Realized Losses, as applicable;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount and Aggregate Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period, and any Realized Loss and VRR Realized Loss for such Distribution Date;
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (UBS Commercial Mortgage Trust 2017-C1), Pooling and Servicing Agreement (CD 2017-Cd4 Mortgage Trust), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2017-P7)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) an Interest Distribution Amount (or, if applicable, the VRR Interest Distribution Amount), (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Due Period, Prepayment Collection Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) delinquent four months or more, (E) that are Specially Serviced Loans but are not delinquent or (EF) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Aggregate Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Aggregate Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Aggregate Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Non-Vertically Retained Regular Certificates for such Distribution Date, and Class PEZ Regular the VRR Interest Distribution Amount for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Non-Vertically Retained Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Non-Vertically Retained Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Non-Vertically Retained Regular Certificates and Class PEZ Regular the VRR Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Principal Balance Certificates or and Class PEZ Regular Interest X Certificates immediately following such Distribution Date;
(S) the Principal Distribution Amount and Aggregate Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period, and any Realized Loss for such Distribution Date;
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Benchmark 2019-B14 Mortgage Trust), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2019-C7), Pooling and Servicing Agreement (Benchmark 2019-B15 Mortgage Trust)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Due Period, Prepayment Collection Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month30-59 days, (B) delinquent two months60-89 days, (C) delinquent three or more months90 days to 120 days, (D) delinquent 120 or more, (E) that are Specially Serviced Loans but are not delinquent or (EF) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ EC Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ EC Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ EC Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ EC Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ EC Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ EC Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period, and any Realized Loss for such Distribution Date;
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-P4), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-C1), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-Gc37)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) an Interest Distribution Amount (or, if applicable, some or all of the VRR Interest Distribution Amount), (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Due Period, Prepayment Collection Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) delinquent four months or more, (E) that are Specially Serviced Loans but are not delinquent or (EF) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Aggregate Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Aggregate Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Aggregate Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Non-Vertically Retained Regular Certificates for such Distribution Date, and Class PEZ Regular the VRR Interest Distribution Amount for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Non-Vertically Retained Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Non-Vertically Retained Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Regular Certificates (other than the Class S and Class PEZ Regular Interest R Certificates) immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses or VRR Realized Losses, as applicable;
(R) the Certificate Factor for each Class of Regular Principal Balance Certificates or and Class PEZ Regular Interest X Certificates immediately following such Distribution Date;
(S) the Principal Distribution Amount and Aggregate Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period, and any Realized Loss and VRR Realized Loss for such Distribution Date;
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (CD 2017-Cd6 Mortgage Trust), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2017-C4), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2017-C34)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) an Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Due Period, Prepayment Collection Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) delinquent four months or more, (E) that are Specially Serviced Loans but are not delinquent or (EF) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Aggregate Pooled Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Aggregate Pooled Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Aggregate Pooled Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Pooled Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Pooled Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Pooled Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Pooled Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Principal Balance Certificates or and Class PEZ Regular Interest X Certificates immediately following such Distribution Date;
(S) the Principal Distribution Amount and Aggregate Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period, and any Realized Loss for such Distribution Date;
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (UBS Commercial Mortgage Trust 2019-C18), Pooling and Servicing Agreement (CF 2019-Cf3 Mortgage Trust), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2019-C7)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Due Period, Prepayment Collection Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) delinquent four months or more, (E) that are Specially Serviced Loans but are not delinquent or (EF) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Grantor Trust-Held Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Grantor Trust-Held Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Grantor Trust-Held Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Grantor Trust-Held Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Grantor Trust-Held Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Grantor Trust-Held Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period, and any Realized Loss for such Distribution Date;
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-P5), Pooling and Servicing Agreement (JPMCC Commercial Mortgage Securities Trust 2016-Jp3), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2016-Lc24)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) an Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Due Period, Prepayment Collection Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) delinquent four months or more, (E) that are Specially Serviced Loans but are not delinquent or (EF) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Pooled Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Pooled Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Pooled Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Pooled Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Pooled Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Pooled Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Pooled Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Principal Balance Certificates or and Class PEZ Regular Interest X Certificates immediately following such Distribution Date;
(S) the Principal Distribution Amount and Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period, and any Realized Loss for such Distribution Date;
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Bank 2020-Bnk26), Pooling and Servicing Agreement (Benchmark 2020-B16 Mortgage Trust), Pooling and Servicing Agreement (Bank 2019-Bnk24)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) an Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Due Period, Prepayment Collection Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) delinquent four months or more, (E) that are Specially Serviced Loans but are not delinquent or (EF) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period, and any Realized Loss for such Distribution Date;
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (CSAIL 2018-C14 Commercial Mortgage Trust), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2017-C41), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2017-C4)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) Interest Distribution Amount, Amount and (B) Yield Maintenance Charges and (C) Excess InterestCharges;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan Loan, as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan Loan, as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Non-Serviced Trust Mortgage Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Non-Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Non-Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Period, and any Realized Loss for such Distribution Date;
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (CSAIL 2015-C3 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C2 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C1 Commercial Mortgage Trust)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on On each Distribution Date, the Certificate Administrator Trustee shall provide or make available available, either in electronic format or by first class mail to each Holder (and, if it shall have certified to the Trustee as to its Ownership Interest in a reportClass of Book-Entry Certificates, including reports each Certificate Owner) of the Certificates and to the Rating Agencies a statement substantially in substantially the form attached hereto set forth as Exhibit D G hereto (the “a "Distribution Date Statement”"), setting forth, among other things, as to the following information:
(A) the amount of distributions, if any, distributions made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount thereof;setting forth:
(Bi) the amount of distributionsthe distribution, if any, made on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interestin reduction of the Class Principal Balance thereof;
(Cii) the amount of any distributions made the distribution, if any, on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates allocable to Distributable Certificate Interest and the amount of the distribution, if any, on such Distribution Date to the Holders of each Class R Certificatesof REMIC II Regular Certificates allocable to Prepayment Premiums;
(Diii) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Available Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after Amount for such Distribution Date;
(Giv) the aggregate amount of P&I Advances (both as to those within any applicable grace period and those which are beyond any applicable grace period, together with the aggregate amount of delinquencies) and other Advances made in respect of the immediately preceding Distribution Date;
(v) P&I Advances outstanding as of the Master Servicer Remittance Date;
(vi) the aggregate amount of P&I Advances made with respect to the Mortgage Pool in respect of the immediately preceding Determination Date;
(vii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at Pool as of the close end of business on the related Collection Period for the immediately preceding Determination Date;
(Hviii) as of the Determination Date for the related Distribution Date, the number and number, aggregate unpaid principal balance and specific identification (by loan number) of Mortgage Loans (A) delinquent one month30-59 days, (B) delinquent two months60-89 days, (C) delinquent three 90 or more monthsdays, (D) that are Specially Serviced Loans current but are specially serviced or in foreclosure but not delinquent or a REO Property and (E) as identification of Mortgage Loans the Mortgagor for which is subject to which foreclosure proceedings have been commencedbankruptcy;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(Lix) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day end of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date and Date, the most recently determined Appraised Value and principal balance of the Mortgage Loan as of the date upon which the Appraisal was performedsuch Mortgage Loan became delinquent;
(Mx) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, Accrued Certificate Interest and the amount of Liquidation Proceeds and other amounts, if any, received Distributable Certificate Interest in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance each Class of the Excess Liquidation Proceeds Reserve Account REMIC II Regular Certificates for such Distribution Date;
(Nxi) the aggregate amount of Distributable Certificate Interest Distribution Amount payable in respect of each Class of REMIC II Regular Certificates and Class PEZ Regular Interest for on such Distribution Date, including, without limitation, any Distributable Certificate Interest remaining unpaid from prior Distribution Dates;
(Oxii) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC II Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxiii) the Pass-Through Rate for each Class of REMIC II Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxiv) the original Certificate Principal Distribution Amount or Notional Amount as with respect to the Mortgage Pool for such Distribution Date, separately identifying the amounts distributable to each Class of REMIC II Regular Certificates;
(xv) the Closing Date aggregate of all Realized Losses incurred during the related Collection Period and all Additional Trust Fund Expenses incurred during the related Collection Period, and an itemization of all such Additional Trust Fund Expenses;
(xvi) the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of REMIC II Regular Certificates and Class PEZ Regular Interest outstanding immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest therein due to the allocation of Realized LossesLosses and Additional Trust Fund Expenses on such Distribution Date;
(Rxvii) the Certificate Factor for each Class of REMIC II Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(Txviii) the aggregate amount of Principal Prepayments made servicing fees paid to the Master Servicer and the Special Servicer, collectively and separately, during the related Prepayment Collection Period, and the aggregate amount ;
(xix) a brief description of any Prepayment Interest Excesses received material waiver, modification or amendment of any Mortgage Loan entered into by the Master Servicer or Special Servicer pursuant to Section 3.20 during the related Collection Period;
(xx) current and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred cumulative outstanding Advances with respect to the Trust Fund during Mortgage Pool;
(xxi) current prepayments and curtailments;
(xxii) the number and aggregate principal balance of Mortgage Loans as to which foreclosure proceedings have been commenced as to the related Prepayment Period, and any Realized Loss Mortgaged Property;
(xxiii) the ratings from all Rating Agencies for such Distribution Dateall Classes of Certificates;
(xxiv) the amounts held in the Excess Liquidation Proceeds Account; and
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc), Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates, the Class Q Certificates and the Class W Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges and Prepayment Premiums, (C) Excess InterestInterest and (D) Windsor Hospitality Portfolio Mortgage Loan Exit Fees;
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Advances Delinquency Advances, with respect to the Mortgage Pool and with respect to each Mortgage Loan as of the related Determination DateGroup, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(Ev) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool and of each Loan Group immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool and of each Loan Group which remains outstanding immediately after such Distribution Date;
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, Loans in the Mortgage Pool and with respect to each Loan Group at the close of business on the related Determination Date;
(Hviii) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(Iix) with respect to the Mortgage Pool, the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor borrower is subject or is expected to be subject to a bankruptcy proceeding;
(Jx) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Kxi) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number control number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date;
(Lxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number control number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Mxiii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number control number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(Nxiv) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxvi) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxvii) the original Certificate Class Principal Amount Balance or Class Notional Amount as of the Closing Date and the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;Losses and Additional Trust Fund Expenses; 235
(Rxviii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxix) the Principal Distribution Amount, the Loan Group 1 Principal Distribution Amount and the Loan Group 2 Principal Distribution Amount for such Distribution Date;
(Txx) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(Uxxi) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(xxii) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date; and
(xxiii) such additional information as contemplated by Exhibit G hereto. In the case of information furnished pursuant to subclauses (i), (ii), (iii) and (xvii) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Realized Loss Distribution Date Statement may change over time. The Trustee shall make available each month to the general public the related Distribution Date Statement, the CMSA Bond Level File, the CMSA Collateral Summary File and the CMSA Loan Setup File via its internet website which is initially located at "xxx.xxxxxxxx.xxx." In addition, the Trustee shall make available each month, on a restricted basis, solely to each Privileged Person, (i) the CMSA Loan Periodic Update File delivered for such each Distribution Date;, the CMSA Property File, the CMSA Comparative Financial Status Report, the CMSA Reconciliation of Funds Report and the CMSA Financial File, (ii) the Servicer Reports, and (iii) as a convenience to such Privileged Persons (and not in furtherance of the distribution thereof under the securities laws), the Prospectus and this Agreement (which may also be made available to the general public). At the direction of the Depositor, the Trustee shall remove any or all of such restrictions and make any or all of such information available to any person. The Trustee makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor. In addition, the Trustee may disclaim responsibility for any information distributed by the Trustee for which it is not the original source. In connection with providing access to the Trustee's internet website, the Trustee may require registration and acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Trustee may provide such information through means other than (and in lieu of) its website; provided, that (i) GMACCM shall have consented to such alternative means and (ii) Certificateholders shall have received notice of such alternative means.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GMAC Commercial Mortgage Securities, Inc. Series 2005-C1 Trust), Pooling and Servicing Agreement (GMAC Commercial Mortgage Securities, Inc. Series 2005-C1 Trust)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) Interest Distribution Amount, and (B) Yield Maintenance Charges and (C) Excess InterestCharges;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount or Notional Amount as of the Closing Date and the Certificate Principal Amount or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Period, and any Realized Loss for such Distribution Date;
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc22), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2014-Gc19)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level On each Distribution Date, based upon (where applicable) the information received from set forth in the report relating to such Distribution Date prepared by the Master Servicer and any other applicable Personsdelivered to the Trustee pursuant to Section 4.02(b) hereof, on each Distribution Dateand only to the extent (where applicable) such information is provided to the Trustee by the Master Servicer, the Trustee shall forward to each Holder (and, if it shall have certified to the Trustee as to its Ownership Interest in a Class of Book-Entry Certificates, each Certificate Administrator shall provide or make available Owner) of the REMIC III Regular Certificates and to the Rating Agencies a reportstatement (a "Distribution Date Statement"), including reports substantially in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”)F, and setting forth, among other things, the following information:
(Ai) the amount of distributionsthe distribution, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interestin reduction of the Class Principal Balance thereof;
(Cii) the amount of any distributions made the distribution, if any, on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to Distributable Certificate Interest and the amount of the distribution, if any, on such Distribution Date to the Holders of each Class R Certificatesof REMIC III Regular Certificates allocable to Prepayment Premiums;
(Diii) the Available Distribution Amount for such Distribution Date;
(iv) the aggregate amount of outstanding P&I Advances with made in respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination immediately preceding Distribution Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fv) the aggregate Stated Principal Balance of the Mortgage Loans Pool outstanding immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(Gvi) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at Pool as of the end of the Collection Period for the immediately preceding Distribution Date;
(vii) as of the close of business on the related Determination Date;
(H) as last day of the Determination Datemost recently ended calendar month, the number and number, aggregate unpaid principal balance and specific identification (by loan number) of Mortgage Loans (A) delinquent one month30-59 days, (B) delinquent two months60-89 days, (C) delinquent three 90 or more monthsdays, and (D) that are Specially Serviced Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(Iviii) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Periodmost recent Appraised Value, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property property type and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed address of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day end of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value unpaid principal balance and date upon which Assumed Monthly Payment of the Appraisal was performedrelated REO Loan;
(Mix) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, Accrued Certificate Interest and the amount of Liquidation Proceeds and other amounts, if any, received Distributable Certificate Interest in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance each Class of the Excess Liquidation Proceeds Reserve Account REMIC III Regular Certificates for such Distribution Date;
(Nx) the aggregate amount of Distributable Certificate Interest Distribution Amount payable in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for on such Distribution Date, including, without limitation, any Distributable Certificate Interest remaining unpaid from prior Distribution Dates;
(Oxi) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxii) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxiii) the original Certificate Principal Distribution Amount for such Distribution Date, separately identifying the respective components of such amount;
(xiv) the aggregate of all Realized Losses incurred during the related Collection Period and, aggregated by type, all Additional Trust Fund Expenses incurred during the related Collection Period;
(xv) the Class Principal Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest outstanding immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest therein due to the allocation of Realized LossesLosses and Additional Trust Fund Expenses on such Distribution Date;
(Rxvi) the aggregate of all Realized Losses and Additional Trust Fund Expenses that remain unallocated following such Distribution Date;
(xvii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(Txviii) the aggregate amount of Principal Prepayments made Servicing Fees paid to the Master Servicer and the Special Servicer, collectively and separately, during the related Prepayment Collection Period, and the aggregate amount ;
(xix) a brief description of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred material waiver, modification or amendment of any Mortgage Loan entered into by the Master Servicer or Special Servicer pursuant to Section 3.20 during the related Collection Period;
(xx) any item of information disclosed to the Trustee by the Master Servicer pursuant to Section 3.19
(a) since the preceding Distribution Date (or, in connection therewiththe case of the initial Distribution Date, since the Closing Date); and
(Uxxi) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expensessuch additional information, if any, incurred as is contemplated on Exhibit F hereto. In the case of information furnished pursuant to clauses (i) and (ii) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per Single Certificate. Except with respect to the Trust Fund during Certificate Factor (required to be reported by clause (xvii) above), financial information reported by the related Prepayment PeriodTrustee to the Certificateholders pursuant to this Section 4.02 shall be expressed as a dollar amount rounded to the nearest whole cent. Absent actual knowledge of an error therein, the Trustee shall have no obligation to recompute, recalculate or verify any information provided to it by the Master Servicer or Special Servicer. The calculations by the Trustee contemplated by this Section 4.02 shall, in the absence of manifest error, be presumptively deemed to be correct for all purposes hereunder. In addition, the Trustee shall so deliver or cause to be delivered to such Certificateholders and any Realized Loss for such Certificate Owners and to the Rating Agencies, at the same time that the Distribution Date;Date Statement is delivered thereto, each (i) Delinquent Loan Status Report, (ii) REO Status Report, (iii) Historical Loan Modification Report, (iv) Special Servicer Loan Status Report,
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mortgage Capital Funding Inc), Pooling and Servicing Agreement (Mortgage Capital Funding Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Sequential Pay Certificates and applied to reduce the respective Certificate Principal Amount thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) Interest Distribution Amount, Amount and (B) Yield Maintenance Charges and (C) Excess InterestCharges;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination DateLoan, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount or Notional Amount as of the Closing Date and the Certificate Principal Amount or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Period, and any Realized Loss for such Distribution Date;
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2013-Gcj12), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2013-Gcj12)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on On each Distribution Date, the Certificate Administrator Trustee shall provide or make available available, either in electronic format or by first-class mail to each Holder (and, if it shall have certified to the Trustee as to its Ownership Interest in a reportClass of Book-Entry Certificates, including reports in substantially each Certificate Owner) of the form attached hereto as Exhibit D Regular Certificates and to the Rating Agencies a statement (the “a "Distribution Date Statement”"), setting forthsubstantially in the form contemplated on pages C-1 through C-17 of the Prospectus Supplement, among other things, as to the following information:
(A) the amount of distributions, if any, distributions made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount thereof;setting forth:
(Bi) the amount of distributionsthe distribution, if any, made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interestin reduction of the Class Principal Balance thereof;
(Cii) the amount of any distributions made the distribution, if any, on such Distribution Date to the Holders of each Class of Regular Certificates allocable to Distributable Certificate Interest and the amount of the distribution, if any, on such Distribution Date to the Holders of each Class R Certificatesof Regular Certificates allocable to Prepayment Premiums;
(Diii) the Available Distribution Amount for such Distribution Date;
(iv) the aggregate amount of outstanding P&I Advances (both as to those within any applicable grace period and those which are beyond any applicable grace period, together with the aggregate amount of delinquencies) made in respect to each Mortgage Loan of the immediately preceding Distribution Date;
(v) the amount of outstanding Servicing Advances as of the related Determination Distribution Date, and ;
(vi) the total outstanding other or miscellaneous advances (excluding aggregate amount of P&I Advances and tax and insurance advances) with made in respect to each Mortgage Loan as of the related immediately preceding Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvii) the aggregate Stated Principal Balance of the Mortgage Loans Pool (less the CML Subordinate Balances of the CML Subordinate Components) outstanding immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(Gviii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at Pool as of the close end of business on the related Collection Period for the immediately preceding Determination Date;
(Hix) as of the Determination Date for the related Distribution Date, the number and number, aggregate unpaid principal balance and specific identification (by loan number) of Mortgage Loans (A) delinquent one month30-59 days, (B) delinquent two months60-89 days, (C) delinquent three 90 or more monthsdays, (D) that are Specially Serviced Loans current but are specially serviced or in foreclosure but not delinquent or a REO Property and (E) as identification of Mortgage Loans the Mortgagor for which is subject to which foreclosure proceedings have been commencedbankruptcy;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(Lx) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day end of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date, the principal balance of the Mortgage Loan as of the date such Mortgage Loan became delinquent;
(Nxi) the Accrued Certificate Interest Distribution Amount and Distributable Certificate Interest in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxii) any unpaid the aggregate amount of Distributable Certificate Interest Distribution Amount payable in respect of each Class of Regular Certificates and on such Distribution Date, including, without limitation, any Distributable Certificate Interest remaining unpaid from prior Distribution Dates and, following the occurrence of a Swap Default, notification that the amount of interest (the Class PEZ A-2F Regular Interest Distributable Certificate Interest) distributed on the Class A-2F Certificates is the respective Fixed Interest Distribution which is being paid as a result of a Swap Default;
(xiii) any unpaid Distributable Certificate Interest in respect of each Class of Regular Certificates after giving effect to the distributions made on such Distribution Date;
(Pxiv) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxv) the original Certificate Principal Distribution Amount or Notional Amount as for such Distribution Date, separately identifying the respective components of such amount;
(xvi) the Closing Date aggregate of all Realized Losses incurred during the related Collection Period and all Additional Trust Fund Expenses incurred during the related Collection Period, and an itemization of all such Additional Trust Fund Expenses;
(xvii) the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Regular Interest outstanding immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest therein due to the allocation of Realized LossesLosses and Additional Trust Fund Expenses on such Distribution Date;
(Rxviii) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxix) the Principal Distribution Amount aggregate amount of servicing fees paid to the Master Servicer and the Special Servicer, collectively and separately, during the related Collection Period; and
(xx) a brief description of any material waiver, modification or amendment of any Mortgage Loan entered into by the Master Servicer or Special Servicer pursuant to Section 3.20 during the related Collection Period;
(xxi) current and cumulative outstanding Advances;
(xxii) current prepayments and curtailments;
(xxiii) the number and aggregate principal balance of Mortgage Loans as to which foreclosure proceedings have been commenced as to the related Mortgaged Property;
(xxiv) the ratings from all Rating Agencies for such all classes of Certificates;
(xxv) LIBOR as calculated for the related Distribution Date;
(Txxvi) the aggregate amount amounts received and paid in respect of Principal Prepayments made during the related Prepayment PeriodSwap Documents;
(xxvii) identification of any Rating Agency Trigger Event or Swap Default of which the Trustee has received notice as having occurred as of or prior to the close of business on the last day of the immediately preceding calendar month with respect to the Swap Documents;
(A) following the occurrence of a Swap Default, and the aggregate amount of any Prepayment Interest Excesses received payment to any successor interest rate swap counterparty to enter into a replacement interest rate swap agreement, and Prepayment Interest Shortfalls incurred (B) collateral posted in connection therewith; with any Rating Agency Trigger Event;
(Uxxix) the aggregate amount of losses and identification of any payments on Mortgage Loans the Class A-2F Certificates in addition to the amount of principal and Additional Trust Fund Expensesinterest due thereon, such as any payment received in connection with the Swap Documents or any payment of a Prepayment Premium after the termination of the Swap Documents required to be distributed on the Class A-2F Certificates pursuant to the terms of this Agreement; and
(xxx) the amounts, if any, incurred distributed in respect of the Class V Certificates.
(a) since the preceding Distribution Date (or, in the case of the initial Distribution Date, since the Closing Date) shall be made available with the Distribution Date Statement. In the case of information furnished pursuant to clauses (i) and (ii) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per Single Certificate. Except with respect to the Trust Fund Certificate Factor (required to be reported by clause (xvi) above), financial information reported by the Trustee to the Certificateholders pursuant to this Section 4.02 shall be expressed as a dollar amount rounded to the nearest whole cent. Absent actual knowledge of an error therein, the Trustee shall have no obligation to recompute, recalculate or verify any information provided to it by the Master Servicer or Special Servicer. The calculations by the Trustee contemplated by this Section 4.02 shall, in the absence of manifest error, be presumptively deemed to be correct for all purposes hereunder. The Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Distribution Date Statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). The Trustee shall provide or make available, either in electronic format or by first-class mail, to such Certificateholders and Certificate Owners and to the Rating Agencies, at the same time that the Distribution Date Statement is delivered thereto, each (i) CMSA Delinquent Loan Status Report, (ii) CMSA REO Status Report, (iii) CMSA Historical Loan Modification Report, (iv) CMSA Historical Liquidation Report, (v) CMSA Comparative Financial Status Report, (vi) Servicer Watch List Report, (viii) CMSA Loan Periodic Update File, (ix) CMSA Property File, (x) CMSA Financial File, (xi) Payments After Determination Date Report (such seven supplemental reports and four data files, the "Servicer Reports"), (xii) CMSA Bond Level File and (xiii) CMSA Collateral Summary File that has been received by the Trustee since the prior Distribution Date. Additionally, the Trustee shall also be required to provide or make available, either in electronic format or by first-class mail, the Servicer Reports to any potential investor in the Certificates who requests such reports in writing. In addition, the Depositor shall cause each Mortgage Loan Seller to prepare (or cause to be prepared on its behalf) a CMSA Loan Set-Up File. Notwithstanding any provision herein to the contrary, the Master Servicer and the Trustee, as applicable, shall prepare and deliver electronically or make available to the Directing Certificateholder, the reports described in Exhibit P hereto, in the time periods and formats set forth therein. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the related Prepayment Periodcalendar year was a Holder of a REMIC II Regular Certificate a statement containing the information as to the applicable Class set forth in clauses (i) and (ii) above of the description of Distribution Date Statement, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the IRS, the REMIC Administrator shall furnish to the Holders of the Class R-I and Class R-II Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the IRS, and shall provide from time to time such information and computations with respect to the entries on such forms as any Realized Loss Holder of the Class R-I and Class R-II Certificates may reasonably request. The Trustee will make available each month, to any interested party, the Distribution Date Statement (and any additional files containing the same information in an alternative format) via the Trustee's Website. In addition, the Trustee will make available to any interested party each month the Servicer Reports, the CMSA Loan Setup File, the Credit Lease Loan Report, CMSA Bond Level File and CMSA Collateral Summary File on the Trustee's Website. In addition, the Trustee will make available, as a convenience for interested parties (and not in furtherance of the distribution of the Base Prospectus and the Prospectus Supplement under the securities laws), this Agreement, the Base Prospectus and the Prospectus Supplement via the Trustee's Website. For assistance with the above-referenced services, interested parties may call (000) 000-0000. The Trustee will make no representations or warranties as to the accuracy or completeness of such documents and will assume no responsibility therefor. In connection with providing access to the Trustee's Website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of the information in accordance herewith.
(b) The Master Servicer shall deliver or cause to be delivered to the Trustee, the Directing Certificateholder, the Special Servicer and each Rating Agency (which delivery to the Special Servicer, the Directing Certificateholder and each Rating Agency may be accomplished by making such information available on the Master Servicer's Internet Website), on a computer-readable medium, in form reasonably acceptable to the Trustee, including, without limitation, on a loan-by-loan basis, (A) at or before 5:00 p.m. (New York City time) on the third Business Day prior to the related Distribution Date beginning in December, 2001, the Servicer Reports and the Special Servicer Loan Status Report delivered to the Master Servicer by the Special Servicer (excluding the CMSA Loan Periodic Update File) (it being understood that a separate Special Servicer Loan Status Report shall not be necessary if the equivalent information has been included in the foregoing or other reports delivered by the Master Servicer and as provided by the Special Servicer), and (B) at or before 5:00 p.m. (New York City time) on the third Business Day prior to the related Distribution Date (the "Master Servicer Reporting Date"), beginning in December, 2001, the CMSA Loan Periodic Update File (the "CMSA Loan Periodic Update File"). Not later than the fifth day of the calendar month following each Master Servicer Remittance Date, the Master Servicer shall forward to the Trustee a statement, setting forth the status of the Certificate Account as of the close of business as to the calendar month prior to such Master Servicer Remittance Date, stating that all distributions required by this Agreement to be made by the Master Servicer have been made (or, in the case of any required distribution that has not been made by the Master Servicer, specifying the nature and status thereof) and showing, for such Distribution Date;calendar month, the aggregate of deposits into and withdrawals from the Certificate Account for each category of deposit specified in Section 3.04(a) and each category of withdrawal specified in Section 3.05(a). The Master Servicer shall also deliver to the Trustee, upon reasonable request of the Trustee, any and all additional information relating to the Mortgage Loans (which information shall be based upon reports delivered to the Master Servicer by the Special Servicer with respect to Specially Serviced Mortgage Loans and REO Properties). Following the end of each calendar quarter, commencing with the calendar quarter ended March 31, 2002, within 105 days (or 180 days, in the case of annual year end operating information, commencing with the year end December 31, 2001) of receipt by the Master Servicer, as to non-Specially Serviced Mortgage Loans, or within thirty (30) days after receipt by the Special Servicer, as to Specially Serviced Mortgage Loans, of any annual, quarterly or other periodic operating statements or rent rolls with respect to any Mortgaged Property or REO Property, the Master Servicer (or the Special Servicer, as applicable), shall deliver to the Trustee (but only upon the request of the Trustee) and the Directing Certificateholder electronically imaged copies of such operating statements and rent rolls. Based upon such operating statements or related rent rolls, the Master Servicer (based upon operating statements, rent rolls, written reports and data fields collected or prepared by the Special Servicer pursuant to Section 3.12(b) and furnished to the Master Servicer by the Special Servicer in the case of the Specially Serviced Mortgage Loans), shall prepare (or, if previously prepared, update, inclusive of year-to-date data) a written analysis of the operations of the Mortgaged Property or REO Property, by completing a CMSA Operating Statement Analysis Report, together with a CMSA NOI Adjustment Worksheet for annual year-end operating statements and related rent rolls. All CMSA Operating Statement Analysis Reports and CMSA NOI Adjustment Worksheets shall be maintained by the Master Servicer with respect to each Mortgaged Property and REO Property. The Master Servicer shall deliver electronically imaged copies thereof to the Directing Certificateholder and the Special Servicer and, upon request, to the Trustee, the Rating Agencies and any Certificateholder or, to the extent the Trustee or a Certificate Owner has confirmed its ownership interest in the Certificates held thereby, such Certificate Owner, together with the related operating statements or related rent rolls.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Commercial Mortgage Pass Thru Certs Series 2001-3)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates (other than the Class X and Class R Certificates) and the Class Q Uncertificated Interest and applied to reduce the respective Certificate Principal Amount thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates and the Class Q Uncertificated Interest allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination DateLoan, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Non-Serviced Trust Mortgage Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Non-Serviced Trust Mortgage Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Non-Serviced Trust Mortgage Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount or Notional Amount as of the Closing Date and the Certificate Principal Amount or Notional Amount, as the case may be, of each Class of Regular Certificates and each Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and or Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Period, and any Realized Loss for such Distribution Date;
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2013-Gcj16)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) Interest Distribution Amount, (BAmount and(B) Yield Maintenance Charges and (C) Excess InterestCharges;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R [R] Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination DateLoan, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
; (J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property [(including with respect to the Outside Non-Serviced Trust Mortgage Loans) )] during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount or Notional Amount as of the Closing Date and the Certificate Principal Amount or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Period, and any Realized Loss for such Distribution Date;
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gs Mortgage Securities Corp Ii)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Trustee shall forward by mail to all of the Holders of each Class of Certificates (and, in the case of a Class of Book-Entry Certificates, to each related Certificate Administrator shall provide or make available Owner that makes a reportwritten request therefor and certifies as to its Ownership Interest in such Class) and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to (A) Distributable Certificate Interest Distribution Amount, and (B) Yield Maintenance Charges and (C) Excess InterestPrepayment Premiums;
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Delinquency Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as end of the related Determination Dateprior calendar month;
(Ev) the aggregate amount of Servicing Fees servicing compensation retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool which remains outstanding immediately after such Distribution Date;
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, Loans in the Mortgage Pool at the close of business on the related Determination Date;
(Hviii) as of the Determination Dateend of the prior calendar month, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(Jix) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance 116 and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performedProperty;
(Kx) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number loan number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date;
(Lxi) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performedDate;
(Mxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, Collection Period and the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account Amount for such Distribution Date;
(Nxiii) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxiv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxv) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date and the next Distribution Date;
(Qxvi) the original Certificate Class Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized LossesLosses and Additional Trust Fund Expenses;
(Rxvii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxviii) the Principal Distribution Amount for such Distribution Date;
(Txix) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(Uxx) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(xxi) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date;
(xxii) the aggregate amount of any Realized Loss Balloon Payment Interest Excesses and Balloon Payment Interest Shortfalls; and
(xxiii) such additional information as contemplated by Exhibit G hereto. In the case of information furnished pursuant to subclauses (i), (ii), (iii) and (xvi) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Distribution Date Statement may change over time. The Trustee shall make available to Certificateholders and other interested parties certain information via electronic transmission as may be agreed upon by the Depositor and the Trustee. In addition, the Trustee shall make available to each Certificateholder, to each Certificate Owner that makes a written request therefor and certifies as to its Ownership Interest in any Class of Book-Entry Certificates, to each Underwriter and to the Rating Agencies, a report (based on information received from the Master Servicer and in a format mutually acceptable to the Trustee and the Master Servicer) containing, information regarding the Mortgage Pool as of the close of business on the related Determination Date, which report shall contain substantially the categories of information regarding the Mortgage Loans set forth in Exhibit G hereto (calculated, where applicable, on the basis of the most recent relevant information provided by the Mortgagors to the Master Servicer or the Special Servicer and by the Master Servicer or the Special Servicer, as the case may be, to the Trustee) and such information shall be presented in a tabular format substantially similar to the formats utilized in Exhibit G hereto. On each Distribution Date, the Trustee shall make (x) certain information contained in the Monthly Distribution Statement available through its ASAP System by Certificateholders requesting statement No. 284 and (y) certain information regarding the Mortgage Loans available in electronic format through its dial-up bulletin board service, by Certificateholders dialing telephone number (000) 000-0000.. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (i), (ii) and (iii) of the description of Distribution Date Statements above aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the Internal Revenue Service, and shall provide from time to time such information and computations with respect to the entries on such forms as any Holder of the Residual Certificates may reasonably request. The specification of information to be furnished by the Trustee to the Certificateholders in this Section 4.02 (and any other terms of this Agreement requiring or calling for delivery or reporting of information by the Trustee to Certificateholders and Certificate Owners) shall not limit the Trustee in furnishing, and the Trustee is hereby authorized to furnish, to Certificateholders, Certificate Owners and/or to the public any other information (such other information, collectively, "Additional Information") with respect to the Mortgage Loans, the Mortgaged Properties or the Trust Fund as may be provided to it by the Depositor, the Master Servicer or the Special Servicer or gathered by it in any investigation or other manner from time to time, provided that (A) while there exists any Event of Default, any such Additional Information shall only be furnished with the consent or at the request of the Depositor (except pursuant to clause (E) below), (B) the Trustee shall be entitled to indicate the source of all information furnished by it, and the Trustee may affix thereto any disclaimer it deems appropriate in its sole discretion (together with any warnings as to the confidential nature and/or the uses of such information as it may, in its sole discretion, determine appropriate), (C) the Trustee may notify Certificateholders and Certificate Owners of the availability of any such information in any manner as it, in its sole discretion, may determine, (D) the Trustee shall be entitled (but not obligated) to require payment from each recipient of a reasonable fee for, and its out-of-pocket expenses incurred in connection with, the collection, assembly, reproduction or delivery of any such Additional Information, (E) without the consent of the Depositor, the Trustee may, in its sole discretion, furnish Additional Information to a Rating Agency in any instance, and to the Certificateholders, Certificate Owners and/or the public-at-large if it determines that the furnishing of such information would assist in the evaluation of the investment characteristics or valuation of the Certificates or would be in the best interests of the Certificateholders or is required by applicable law and (F) the Trustee shall be entitled to distribute or make available such Additional Information in accordance with such reasonable rules and procedures as it may deem necessary or appropriate (which may include the requirement that an agreement that provides such information shall be used solely for purposes of evaluating the investment characteristics or valuation of the Certificates be executed by the recipient, if and to the extent the Trustee deems the same to be necessary or appropriate). Nothing herein shall be construed to impose upon the Trustee any obligation or duty to furnish or distribute any Additional Information to any Person in any instance, and the Trustee shall neither have any liability for furnishing nor for refraining from furnishing Additional Information in any instance. The Trustee shall be entitled (but not required) to request and receive direction from the Depositor as to the manner of delivery of any such Additional Information, if and to the extent the Trustee deems necessary or advisable, and to require that any consent, direction or request given to it pursuant to this Section be made in writing. Upon the authorization of the Depositor, the Trustee shall make available to Bloomberg Financial Markets, L.P. ("Bloomberg") all the reports delivered or made available pursuant to this Section 4.02(a) to the Certificateholders and Certificate Owners using a format and media mutually acceptable to the Trustee and Bloomberg.
(b) At or before 11:00 a.m. (New York City time) on the third Business Day prior to each Distribution Date, subject to the last paragraph of this subsection (b), the Master Servicer shall deliver or cause to be delivered to the Trustee (and the Trustee shall deliver to the Special Servicer) in form mutually acceptable to the Trustee and the Master Servicer the following reports or information: (1) a Delinquent Loan Status Report, (2) an REO Status Report, (3) a Historical Loan Modification Report, (4) a Historical Loss Report, (5) the Specially Serviced Mortgage Loan Status Report and (6) a single report (the "Collection Report") setting forth, among other things, the information specified in clauses (i) through (vii) below (the amounts and allocations of payments, collections, fees and expenses with respect to Specially Serviced Mortgage Loans and REO Properties to be based upon the report to be delivered by the Special Servicer to the Master Servicer on the second Business Day after the related Determination Date, in the form required by Section 4.02(c) below):
(i) the aggregate amount that is to be transferred from the Certificate Account to the Distribution Account in respect of such Distribution Date that is allocable to principal on or in respect of the Mortgage Loans and any REO Loans, separately identifying the aggregate amount of any Principal Prepayments included therein, and (if different) the Principal Distribution Amount for the immediately succeeding Distribution Date;
(ii) the aggregate amount that is to be transferred from the Certificate Account to the Distribution Account in respect of such Distribution Date that is allocable to (A) interest on or in respect of the Mortgage Loans and any REO Loans and (B) Prepayment Premiums;
(iii) the aggregate amount of any Delinquency Advances (specifying the principal and interest portions thereof separately) to made pursuant to Section 4.03 of this Agreement as of the end of the prior calendar month that were included in amounts deposited in the Distribution Account;
(iv) the information required to be included in the Distribution Date Statement for the next succeeding Distribution Date and described in clauses (v) - (xii) and (xvii) - (xxii) of the description of the Distribution Date Statement in Section 4.02(a);
(v) the loan number and the unpaid principal balance as of the close of business on such Determination Date of each Specially Serviced Mortgage Loan and each other Defaulted Mortgage Loan;
(vi) such other information on a Mortgage Loan-by-Mortgage Loan or REO Property-by-REO Property basis as the Trustee or the Depositor shall reasonably request in writing (including, without limitation, information with respect to any modifications of any Mortgage Loan, any Mortgage Loans in default or foreclosure, the operation and disposition of REO Property and the assumption of any Mortgage Loan); and
(vii) such additional information as is contemplated by the Master Servicer Remittance Report. On the date on which the report described above is delivered to the Trustee, the Master Servicer shall also deliver or cause to be delivered to the Trustee a report, in form reasonably acceptable to the Trustee, containing the information with respect to the Mortgage Pool necessary for the Trustee to prepare with respect to the Mortgage Pool any additional schedules and tables required to be made available by the Trustee pursuant to Section 4.02(a), as well as to prepare an updated Mortgage Loan Schedule, in each case reflecting the changes in the Mortgage Pool during the related Collection Period.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges Prepayment Premiums and (C) Excess Interest;
(C) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(D) the aggregate amount of outstanding P&I Delinquency Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans Pool immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the 154 outstanding Mortgage Loans, Loans in the Mortgage Pool at the close of business on the related Determination relatedDetermination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(I) with respect to the Mortgage Pool, the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor borrower is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number loan number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;; 155
(N) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Class Principal Amount Balance or Class Notional Amount as of the Closing Date and the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized LossesLosses and Additional Trust Fund Expenses;
(R) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(U) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(V) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date; and
(W) such additional information as contemplated by Exhibit G hereto. In the case of information furnished pursuant to subclauses (A), (B), (C) and (Q) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Realized Loss Distribution Date Statement may change over time. The Trustee shall make available each month to any interested person the related Distribution Date Statement, the CMSA Bond Level File, the CMSA Collateral Summary File and the CMSA Loan Setup File via its internet website initially located at 156 "xxx.xxxxxxx.xxx/xxxx". In addition, the Trustee shall make available each month, on a restricted basis, solely to each Privileged Person, (i) the CMSA Loan Periodic Update File delivered for each Distribution Date, the CMSA Property File, the CMSA Comparative Financial Status Report and the CMSA Financial File, (ii) the Servicer Reports, and (iii) as a convenience to such Privileged Persons (and not in furtherance of the distribution thereof under the securities laws), the Prospectus and this Agreement. At the direction of the Depositor, the Trustee shall remove any or all of such restrictions and make any or all of such information available to any person. The Trustee makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor. In addition, the Trustee may disclaim responsibility for any information distributed by the Trustee for which it is not the original source. In connection with providing access to the Trustee's internet website, the Trustee may require registration and acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Trustee may provide such information through means other than (and in lieu of) its website provided that (i) GMACCM shall have consented to such alternative means and (ii) Certificateholders shall have received notice of such alternative means. The provisions in this Section shall not limit the Master Servicer's ability to make accessible certain information regarding the Mortgage Loans at a website maintained by the Master Servicer. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (A), (B) and (C) of the description of Distribution Date Statements above aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the Internal Revenue Service, and shall provide from time to time such information and computations with respect to the entries on such forms as any Holder of the Residual Certificates may reasonably request. The specification of information to be furnished by the Trustee to the Certificateholders in this Section 4.02 (and any other terms of this Agreement requiring or calling for delivery or reporting of information by the Trustee to Certificateholders and Certificate Owners) shall not limit the Trustee in furnishing, and the Trustee is hereby authorized to furnish, to Certificateholders, Certificate Owners and/or to the public any other information (such other information, collectively, "Additional Information") with respect to the Mortgage Loans, the Mortgaged Properties or the Trust Fund as may be provided to it by the Depositor, the Master Servicer or the Special Servicer or gathered by it in any investigation or other manner 157 from time to time, provided that (A) while there exists any Event of Default, any such Additional Information shall only be furnished with the consent or at the request of the Depositor (except pursuant to clause (E) below), (B) the Trustee shall be entitled to indicate the source of all information furnished by it, and the Trustee may affix thereto any disclaimer it deems appropriate in its sole discretion (together with any warnings as to the confidential nature and/or the uses of such information as it may, in its sole discretion, determine appropriate), (C) the Trustee may notify Certificateholders and Certificate Owners of the availability of any such information in any manner as it, in its sole discretion, may determine, (D) the Trustee shall be entitled (but not obligated) to require payment from each recipient of a reasonable fee for, and its out-of-pocket expenses incurred in connection with, the collection, assembly, reproduction or delivery of any such Additional Information, (E) without the consent of the Depositor, the Trustee may, in its sole discretion, furnish Additional Information to a Rating Agency in any instance, and to the Certificateholders, Certificate Owners and/or the public-at-large if it determines that the furnishing of such information would assist in the evaluation of the investment characteristics or valuation of the Certificates or would be in the best interests of the Certificateholders or is required by applicable law and, in the case of any Additional Information requested by a Certificate Owner or Certificateholder, such Certificate Owner or Certificateholder has delivered an executed certificate in the form of Exhibit H hereto and (F) the Trustee shall be entitled to distribute or make available such Additional Information in accordance with such reasonable rules and procedures as it may deem necessary or appropriate (which may include the requirement that an agreement that provides such information shall be used solely for purposes of evaluating the investment characteristics or valuation of the Certificates be executed by the recipient, if and to the extent the Trustee deems the same to be necessary or appropriate). Nothing herein shall be construed to impose upon the Trustee any obligation or duty to furnish or distribute any Additional Information to any Person in any instance, and the Trustee shall neither have any liability for furnishing nor for refraining from furnishing Additional Information in any instance. The Trustee shall be entitled (but not required) to request and receive direction from the Depositor as to the manner of delivery of any such Additional Information, if and to the extent the Trustee deems necessary or advisable, and to require that any consent, direction or request given to it pursuant to this Section be made in writing. Upon the authorization of the Depositor, the Trustee shall make available to Bloomberg Financial Markets, L.P. ("Bloomberg") or such other vendor chosen by the Depositor, all the electronic reports delivered or made available pursuant to this Section 4.02(a) to the Certificateholders and Certificate Owners using a format and media mutually acceptable to the Trustee and Bloomberg.
(b) No later than the Business Day prior to each Distribution Date;, subject to the last paragraph of this subsection (b), the Master Servicer shall deliver or cause to be delivered to the Trustee (and, if the Master Servicer is not the Special Servicer, the Trustee shall deliver to the Special Servicer) in electronic form mutually acceptable to the Trustee and the Master Servicer the following reports or information: (1) a CMSA Delinquent Loan Status Report, (2) a CMSA REO Status Report, (3) a CMSA Historical Loan Modification Report, (4) a CMSA Historical Liquidation Report, (5) the CMSA Servicer Watch List, (6) the CMSA Financial File, (7) the CMSA Property File and (8) the CMSA Comparative Financial Status Report.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges Prepayment Premiums and (C) Excess Interest;
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Delinquency Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(Ev) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool which remains outstanding immediately after such Distribution Date;
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, Loans in the Mortgage Pool at the close of business on the related Determination Date;
(Hviii) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(Iix) with respect to the Mortgage Pool, the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor borrower is subject or is expected to be subject to a bankruptcy proceeding;
(Jx) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Kxi) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number loan number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date;
(Lxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Mxiii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(Nxiv) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxvi) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxvii) the original Certificate Class Principal Amount Balance or Class Notional Amount as of the Closing Date and the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized LossesLosses and Additional Trust Fund Expenses;
(Rxviii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxix) the Principal Distribution Amount for such Distribution Date;
(Txx) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(Uxxi) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(xxii) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date; and
(xxiii) such additional information as contemplated by Exhibit G hereto. In the case of information furnished pursuant to subclauses (i), (ii), (iii) and (xvii) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Realized Loss Distribution Date Statement may change over time. The Trustee shall make available each month to any interested person the related Distribution Date Statement via its internet website initially located at "xxx.xxxxxxx.xxx/xxxx". In addition, the Trustee shall make available each month, on a restricted basis, solely to each Privileged Person, (i) the CMSA Periodic Loan File delivered for each Distribution Date, the CMSA Loan Setup File, the CMSA Bond Level File, the CMSA Collateral Summary File, the CMSA Property File and the CMSA Financial File, (ii) the Servicer Reports, and (iii) as a convenience to such Privileged Persons (and not in furtherance of the distribution thereof under the securities laws), the Prospectus and this Agreement. At the direction of the Depositor, the Trustee shall remove any or all of such restrictions and make any or all of such information available to any person. The Trustee makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor. In addition, the Trustee may disclaim responsibility for any information distributed by the Trustee for which it is not the original source. In connection with providing access to the Trustee's internet website, the Trustee may require registration and acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Trustee may provide such information through means other than (and in lieu of) its website provided that (i) GMACCM shall have consented to such alternative means and (ii) Certificateholders shall have received notice of such alternative means. The provisions in this Section shall not limit the Master Servicer's ability to make accessible certain information regarding the Mortgage Loans at a website maintained by the Master Servicer. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (i), (ii) and (iii) of the description of Distribution Date Statements above aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the Internal Revenue Service, and shall provide from time to time such information and computations with respect to the entries on such forms as any Holder of the Residual Certificates may reasonably request. The specification of information to be furnished by the Trustee to the Certificateholders in this Section 4.02 (and any other terms of this Agreement requiring or calling for delivery or reporting of information by the Trustee to Certificateholders and Certificate Owners) shall not limit the Trustee in furnishing, and the Trustee is hereby authorized to furnish, to Certificateholders, Certificate Owners and/or to the public any other information (such other information, collectively, "Additional Information") with respect to the Mortgage Loans, the Mortgaged Properties or the Trust Fund as may be provided to it by the Depositor, the Master Servicer or the Special Servicer or gathered by it in any investigation or other manner from time to time, provided that (A) while there exists any Event of Default, any such Additional Information shall only be furnished with the consent or at the request of the Depositor (except pursuant to clause (E) below), (B) the Trustee shall be entitled to indicate the source of all information furnished by it, and the Trustee may affix thereto any disclaimer it deems appropriate in its sole discretion (together with any warnings as to the confidential nature and/or the uses of such information as it may, in its sole discretion, determine appropriate), (C) the Trustee may notify Certificateholders and Certificate Owners of the availability of any such information in any manner as it, in its sole discretion, may determine, (D) the Trustee shall be entitled (but not obligated) to require payment from each recipient of a reasonable fee for, and its 133 out-of-pocket expenses incurred in connection with, the collection, assembly, reproduction or delivery of any such Additional Information, (E) without the consent of the Depositor, the Trustee may, in its sole discretion, furnish Additional Information to a Rating Agency in any instance, and to the Certificateholders, Certificate Owners and/or the public-at-large if it determines that the furnishing of such information would assist in the evaluation of the investment characteristics or valuation of the Certificates or would be in the best interests of the Certificateholders or is required by applicable law and, in the case of any Additional Information requested by a Certificate Owner or Certificateholder, such Certificate Owner or Certificateholder has delivered an executed certificate in the form of Exhibit K hereto and (F) the Trustee shall be entitled to distribute or make available such Additional Information in accordance with such reasonable rules and procedures as it may deem necessary or appropriate (which may include the requirement that an agreement that provides such information shall be used solely for purposes of evaluating the investment characteristics or valuation of the Certificates be executed by the recipient, if and to the extent the Trustee deems the same to be necessary or appropriate). Nothing herein shall be construed to impose upon the Trustee any obligation or duty to furnish or distribute any Additional Information to any Person in any instance, and the Trustee shall neither have any liability for furnishing nor for refraining from furnishing Additional Information in any instance. The Trustee shall be entitled (but not required) to request and receive direction from the Depositor as to the manner of delivery of any such Additional Information, if and to the extent the Trustee deems necessary or advisable, and to require that any consent, direction or request given to it pursuant to this Section be made in writing. Upon the authorization of the Depositor, the Trustee shall make available to Bloomberg Financial Markets, L.P. ("Bloomberg") or such other vendor chosen by the Depositor, all the electronic reports delivered or made available pursuant to this Section 4.02(a) to the Certificateholders and Certificate Owners using a format and media mutually acceptable to the Trustee and Bloomberg.
(b) No later than the Business Day prior to each Distribution Date;, subject to the last paragraph of this subsection (b), the Master Servicer shall deliver or cause to be delivered to the Trustee (and, if the Master Servicer is not the Special Servicer, the Trustee shall deliver to the Special Servicer) in electronic form mutually acceptable to the Trustee and the Master Servicer the following reports or information: (1) a Delinquent Loan Status Report, (2) an REO Status Report, (3) a Historical Loan Modification Report, (4) a Historical Loss Report, (5) the Servicer Watch List, (6) the CMSA Financial File and (7) the CMSA Property File Report.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges Prepayment Premiums and (C) Excess Interest;
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Delinquency Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as end of the related Determination Dateprior calendar month;
(Ev) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool which remains outstanding immediately after such Distribution Date;
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, Loans in the Mortgage Pool at the close of business on the related Determination Date;
(Hviii) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or delinquent, (E) as to which foreclosure proceedings have been commenced;
commenced or (IF) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor Borrower is subject or is expected to be subject to a bankruptcy proceeding;
(Jix) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Kx) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number loan number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date;
(Lxi) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to 125 such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Mxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(Nxiii) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxiv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxv) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxvi) the original Certificate Class Principal Amount Balance or Class Notional Amount as of the Closing Date and the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized LossesLosses and Additional Trust Fund Expenses;
(Rxvii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxviii) the Principal Distribution Amount for such Distribution Date;
(Txix) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(Uxx) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(xxi) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date;
(xxii) the net amount of any Realized Loss Balloon Payment Interest Excesses and Balloon Payment Interest Shortfalls for the related Collection Period;
(xxiii) the information with respect to the credit ratings of any Tenant or Guarantor provided by the Master Servicer to the Trustee pursuant to Section 4.02(b) hereof on or prior to the third Business Day after the related Determination Date; and
(xxiv) such additional information as contemplated by Exhibit G hereto. In the case of information furnished pursuant to subclauses (i), (ii), (iii) and (xvi) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Distribution Date Statement may change over time. The Trustee shall make available to Certificateholders and other interested parties certain information via electronic transmission as may be agreed upon by the Depositor and the Trustee, including the information and reports described in clauses (1) through (6) of clause (b) below and the CSSA Periodic Loan File delivered for each Distribution Date. In addition, the Trustee shall make available to each Certificateholder, to each Person that provides the Trustee with an Investor Certification, to each party hereto, to each Underwriter and to the Rating Agencies, a report (based on information received from the Master Servicer and in a format mutually acceptable to the Trustee and the Master Servicer) containing, information regarding the Mortgage Pool as of the close of business on the related Determination Date, which report shall contain substantially the categories of information regarding the Mortgage Loans set forth in Exhibit G hereto (calculated, where applicable, on the basis of the most recent relevant information provided by the Mortgagors to the Master Servicer or the Special Servicer and by the Master Servicer or the Special Servicer, as the case may be, to the Trustee) and such information shall be presented in a tabular format substantially similar to the formats utilized in Exhibit G hereto. On each Distribution Date, the Trustee shall make (x) certain information contained in the monthly Distribution Date Statement available through its ASAP System to Certificateholders and Certificate Owners calling (714) 282-5518 and requesting statement No. 416 and (y) certain xxxxxxxxxxx xegarding the Mortgage Loans available in electronic format through its dial up bulletin board service, to Certificateholders and Certificate Owners dialing telephone number (714) 282-3990. Additionally, upon approval of the Depositor, cerxxxx xxxxxxxxxon regarding the Mortgage Loans will be made accessible at the website maintained by LaSalle Bank National Association at www.lnbabs.com. Such information shall be accessible only with thx xxx xx x xxxsword provided by the Trustee to each Person that provides the Trustee with an Investor Certification; provided, however, that the Rating Agencies and the other parties to this Agreement shall not be required to provide such certification; and provided, further, that the Depositor may instruct the Trustee at any time not to require the use of a password or the receipt of a certification. The Trustee makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor. In addition, the Trustee may disclaim responsibility for any information distributed by the Trustee for which it is not the original source. In connection with providing access to the Trustee's internet website or electronic bulletin board, the Trustee may require registration and acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Trustee may provide such information through means other than (and in lieu of) its ASAP System, dial up bulletin board service or website provided that (i) GMACCM shall have consented to such 127 alternative means and (ii) Certificateholders shall have received notice of such alternative means. The provisions in this Section shall not limit the Master Servicer's ability to make accessible certain information regarding the Mortgage Loans at a website maintained by the Master Servicer. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (i), (ii) and (iii) of the description of Distribution Date Statements above aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the Internal Revenue Service, and shall provide from time to time such information and computations with respect to the entries on such forms as any Holder of the Residual Certificates may reasonably request. The specification of information to be furnished by the Trustee to the Certificateholders in this Section 4.02 (and any other terms of this Agreement requiring or calling for delivery or reporting of information by the Trustee to Certificateholders and Certificate Owners) shall not limit the Trustee in furnishing, and the Trustee is hereby authorized to furnish, to Certificateholders, Certificate Owners and/or to the public any other information (such other information, collectively, "Additional Information") with respect to the Mortgage Loans, the Mortgaged Properties or the Trust Fund as may be provided to it by the Depositor, the Master Servicer or the Special Servicer or gathered by it in any investigation or other manner from time to time, provided that (A) while there exists any Event of Default, any such Additional Information shall only be furnished with the consent or at the request of the Depositor (except pursuant to clause (E) below), (B) the Trustee shall be entitled to indicate the source of all information furnished by it, and the Trustee may affix thereto any disclaimer it deems appropriate in its sole discretion (together with any warnings as to the confidential nature and/or the uses of such information as it may, in its sole discretion, determine appropriate), (C) the Trustee may notify Certificateholders and Certificate Owners of the availability of any such information in any manner as it, in its sole discretion, may determine, (D) the Trustee shall be entitled (but not obligated) to require payment from each recipient of a reasonable fee for, and its out-of-pocket expenses incurred in connection with, the collection, assembly, reproduction or delivery of any such Additional Information, (E) without the consent of the Depositor, the Trustee may, in its sole discretion, furnish Additional Information to a Rating Agency in any instance, and to the Certificateholders, Certificate Owners and/or the public-at-large if it determines that the furnishing of such information would assist in the evaluation of the investment characteristics or valuation of the Certificates or would be in the best interests of the Certificateholders or is required by applicable law and (F) the Trustee shall be entitled to distribute or make available such Additional Information in accordance with such 128 reasonable rules and procedures as it may deem necessary or appropriate (which may include the requirement that an agreement that provides such information shall be used solely for purposes of evaluating the investment characteristics or valuation of the Certificates be executed by the recipient, if and to the extent the Trustee deems the same to be necessary or appropriate). Nothing herein shall be construed to impose upon the Trustee any obligation or duty to furnish or distribute any Additional Information to any Person in any instance, and the Trustee shall neither have any liability for furnishing nor for refraining from furnishing Additional Information in any instance. The Trustee shall be entitled (but not required) to request and receive direction from the Depositor as to the manner of delivery of any such Additional Information, if and to the extent the Trustee deems necessary or advisable, and to require that any consent, direction or request given to it pursuant to this Section be made in writing. Upon the authorization of the Depositor, the Trustee shall make available to Bloomberg Financial Markets, L.P. ("Bloomberg") all the electronic reports delivered or made available pursuant to this Section 4.02(a) to the Certificateholders and Certificate Owners using a format and media mutually acceptable to the Trustee and Bloomberg.
(b) No later than the Business Day prior to each Distribution Date;, subject to the last paragraph of this subsection (b), the Master Servicer shall deliver or cause to be delivered to the Trustee (and, if the Master Servicer is not the Special Servicer, the Trustee shall deliver to the Special Servicer) in electronic form mutually acceptable to the Trustee and the Master Servicer the following reports or information: (1) a Delinquent Loan Status Report, (2) an REO Status Report, (3) a Historical Loan Modification Report, (4) a Historical Loss Report and (5) the Servicer Watch List.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on On each Distribution Date, the Certificate Administrator Trustee shall provide or make available available, either in electronic format or by first class mail to each Holder (and, if it shall have certified to the Trustee as to its Ownership Interest in a reportClass of Book-Entry Certificates, including reports each Certificate Owner) of the Certificates and to the Rating Agencies a statement substantially in substantially the form attached hereto set forth as Exhibit D G hereto (the “a "Distribution Date Statement”)") and based upon the information provided by the Master Servicer in accordance with Commercial Mortgage Securities Association guidelines, setting forth, among other things, as to the following information:
(A) the amount of distributions, if any, distributions made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount thereof;setting forth:
(Bi) the amount of distributionsthe distribution, if any, made on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interestthe Class CP Certificates in reduction of the Class Principal Balance thereof;
(Cii) the amount of any distributions made the distribution, if any, on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates allocable to Distributable Certificate Interest and the amount of the distribution, if any, on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates allocable to Prepayment Premiums;
(iii) the amount of the distribution, if any, on such Distribution Date to the Holders of the Class R CertificatesCP Certificates allocable to the Distributable CP Component Mortgage Loan Certificate Interest, and the amount of the distribution, if any, on such Distribution Date to the Holders of the Class CP Certificates allocable to Prepayment Premiums;
(Div) the Available Distribution Amount and the CP Component Mortgage Loan Available Distribution Amount for such Distribution Date;
(v) the aggregate amount of outstanding P&I Advances (both as to those within any applicable grace period and those which are beyond any applicable grace period, together with the aggregate amount of delinquencies) and other Servicing Advances made in respect of the immediately preceding Distribution Date;
(vi) P&I Advances outstanding as of the Master Servicer Remittance Date;
(vii) the aggregate amount of P&I Advances made with respect to each the Mortgage Loan as Pool in respect of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related immediately preceding Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fviii) the aggregate Stated Principal Balance of the Mortgage Loans Pool (less the CP Component Mortgage Loan Subordinate Balance) outstanding immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(Gix) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at Pool as of the close end of business on the related Collection Period for the immediately preceding Determination Date;
(Hx) as of the Determination Date for the related Distribution Date, the number and number, aggregate unpaid principal balance and specific identification (by loan number) of Mortgage Loans (A) delinquent one month30-59 days, (B) delinquent two months60-89 days, (C) delinquent three 90 or more monthsdays, (D) that are Specially Serviced Loans current but are specially serviced or in foreclosure but not delinquent or a REO Property and (E) as identification of Mortgage Loans the Mortgagor for which is subject to which foreclosure proceedings have been commencedbankruptcy;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(Lxi) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day end of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date and Date, the most recently determined Appraised Value and principal balance of the Mortgage Loan as of the date upon which the Appraisal was performedsuch Mortgage Loan became delinquent;
(Mxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment PeriodAccrued Certificate Interest, the Loan Number of the related Mortgage Loan, Distributable Certificate Interest and the amount of Liquidation Proceeds and other amounts, if any, received Distributable CP Component Mortgage Loan Certificate Interest in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date each Class of REMIC II Regular Certificates and the balance of the Excess Liquidation Proceeds Reserve Account Class CP Certificates, as applicable, for such Distribution Date;
(Nxiii) the aggregate amount of Distributable Certificate Interest Distribution Amount and the Distributable CP Component Mortgage Loan Certificate Interest payable in respect of each Class of REMIC II Regular Certificates and the Class PEZ Regular Interest for CP Certificates, as applicable, on such Distribution Date, including, without limitation, any Distributable Certificate Interest remaining unpaid from prior Distribution Dates;
(Oxiv) any unpaid Distributable Certificate Interest Distribution Amount and Distributable CP Component Mortgage Loan Certificate Interest in respect of each Class of REMIC II Regular Certificates and the Class PEZ Regular Interest CP Certificates, as applicable, after giving effect to the distributions made on such Distribution Date;
(Pxv) the Pass-Pass Through Rate for each Class of REMIC II Regular Certificates and the Class PEZ Regular Interest CP Certificates, as applicable, for such Distribution Date;
(Qxvi) the original Certificate Principal Distribution Amount or Notional Amount as with respect to the Mortgage Pool for such Distribution Date, separately identifying the amounts distributable to each Class of REMIC II Regular Certificates and the Closing Date Class CP Certificates;
(xvii) the aggregate of all Realized Losses incurred during the related Collection Period and all Additional Trust Fund Expenses incurred during the related Collection Period, and an itemization of all such Additional Trust Fund Expenses;
(xviii) the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of REMIC II Regular Certificates and the Class PEZ Regular Interest CP Certificates outstanding immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest therein due to the allocation of Realized LossesLosses and Additional Trust Fund Expenses on such Distribution Date;
(Rxix) the Certificate Factor for each Class of REMIC II Regular Certificates or and the Class PEZ Regular Interest CP Certificates immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(Txx) the aggregate amount of Principal Prepayments made servicing fees paid to the Master Servicer and the Special Servicer, collectively and separately, during the related Prepayment Collection Period, and the aggregate amount ;
(xxi) a brief description of any Prepayment Interest Excesses received material waiver, modification or amendment of any Loan entered into by the Master Servicer or Special Servicer pursuant to Section 3.20 during the related Collection Period;
(xxii) current and Prepayment Interest Shortfalls incurred in connection therewith; cumulative outstanding Advances with respect to the Mortgage Pool;
(Uxxiii) current prepayments and curtailments;
(xxiv) the number and aggregate amount principal balance of losses on Mortgage Loans and Additional Trust Fund Expensesas to which foreclosure proceedings have been commenced as to the related Mortgaged Property;
(xxv) the ratings from all Rating Agencies for all Classes of Certificates;
(xxvi) the amounts, if any, incurred distributed in respect of the Class CP Certificates;
(xxvii) the amounts held in the Excess Liquidation Proceeds Account;
(xxviii) the CMSA Reconciliation of Funds Report; and
(xxix) the CP Component Mortgage Loan Subordinate Balance.
(a) since the preceding Distribution Date (or, in the case of the initial Distribution Date, since the Closing Date) shall be made available with the Distribution Date Statement. In the case of information furnished pursuant to clauses (i), (ii) and (iii) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per Single Certificate. Except with respect to the Trust Fund Certificate Factor (required to be reported by clause (xix) above), financial information reported by the Trustee to the Certificateholders pursuant to this Section 4.02 shall be expressed as a dollar amount rounded to the nearest whole cent. Absent actual knowledge of an error therein, the Trustee shall have no obligation to recompute, recalculate or verify any information provided to it by the Master Servicer or Special Servicer. The calculations by the Trustee contemplated by this Section 4.02 shall, in the absence of manifest error, be presumptively deemed to be correct for all purposes hereunder. The Trustee shall be entitled to rely on but shall not be responsible for the content or accuracy of any information provided by third parties for purposes of preparing the Distribution Date Statement and may affix thereto any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto). Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the related Prepayment Periodcalendar year was a Holder of a REMIC II Regular Certificate or Class CP Certificate a statement containing the information as to the applicable Class set forth in clauses (i), (ii) and (iii) above of the description of Distribution Date Statement, aggregated for such calendar year or applicable portion thereof during which such Person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the IRS, the REMIC Administrator shall furnish to the Holders of the Class R-I and Class R-II Certificates the IRS Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the IRS, and shall provide from time to time such information and computations with respect to the entries on such forms as any Realized Loss Holder of the Class R-I and Class R-II Certificates may reasonably request. The Trustee will make available each month, to the general public, the Distribution Date Statement (and any additional files containing the same information in an alternative format) via the Trustee's Website. In addition, the Trustee will make available to the general public each month the Servicer Reports, the CMSA Loan Setup File and the Trustee's Reports on the Trustee's Website. In addition, the Trustee will make available, as a convenience for interested parties (and not in furtherance of the distribution of the Base Prospectus and the Prospectus Supplement under the securities laws), this Agreement, the Base Prospectus and the Prospectus Supplement via the Trustee's Website. For assistance with the above-referenced services, interested parties may call (312) 904-0708. The Trustee will make no representations or warranties xx xx xxx xxxxracy or completeness of such Distribution documents and will assume no responsibility therefor. In addition, upon authorization of the Depositor, which is hereby given, the Trustee shall make available to Bloomberg, L.P., Trepp, LLC, Intex Solutions, Inc. and Standard & Poor's Conquest or sucx xxxer vendors as chosen by the Depositor all electronic reports delivered or made available pursuant to Section 4.02 to the Certificateholders using a format mutually acceptable to such vendors and the Trustee. In connection with providing access to the Trustee's Website, the Trustee may require registration and the acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of the information in accordance herewith.
(b) By 12:00 noon (New York City time) on the third Business Day following each Determination Date (or with respect to the CMSA Loan Periodic Update File, by 2:00 p.m. (New York City time) on the second Business Day following each Determination Date;), the Master Servicer shall deliver to the Trustee, in a computer-readable medium downloadable by the Trustee, each of the files and reports comprising the CMSA Investor Reporting Package (other than the CMSA Bond Level File and the CMSA Collateral Summary File, which are prepared by the Trustee), each reflecting information as of the close of business on such Determination Date, in a mutually agreeable electronic format. The CMSA Loan Periodic Update File contained in the CMSA Investor Reporting Package and any written information supplemental thereto shall include such information with respect to the Mortgage Loans that is reasonably required by the Trustee for purposes of making the calculations and preparing the reports for which the Trustee is responsible pursuant to Section 4.01, this Section 4.02, Section 4.04 or any other section of this Agreement, as set forth in reasonable written specifications or guidelines issued by the Trustee from time to time. Such information may be delivered by the Master Servicer to the Trustee by telecopy or in such electronic or other form as may be reasonably acceptable to the Trustee and the Master Servicer. The Special Servicer shall from time to time (and, in any event, as may be reasonably required by the Master Servicer) provide the Master Servicer with such information in its possession regarding the Specially Serviced Loans and REO Properties as may be necessary for the Master Servicer to prepare each report and any supplemental information to be provided by the Master Servicer to the Trustee. Notwithstanding the foregoing, the failure of the Master Servicer or the Special Servicer to disclose any information otherwise required to be disclosed pursuant to Section 4.02(a) or this Section 4.02(b) shall not constitute a breach of Section 4.02(a) or of this Section 4.02(b) to the extent the Master Servicer or the Special Servicer so fails because such disclosure, in the reasonable belief of the Master Servicer or the Special Servicer, as the case may be, would violate any applicable law or any provision of a Loan document prohibiting disclosure of information with respect to the Loans or the Mortgaged Properties, would constitute a waiver of the attorney-client privilege on behalf of the Trust or would otherwise materially harm the Trust Fund. The Master Servicer or the Special Servicer may affix to any information provided by it any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(c) Not later than 2:00 p.m. (New York City time) on the first Business Day following each Determination Date, the Special Servicer shall prepare and deliver or cause to be delivered to the Master Servicer, the following reports (or data fields required for the Master Servicer to produce such reports) with respect to the Specially Serviced Loans and any REO Properties, providing the required information as of such Determination Date: (i) a CMSA Property File; and (ii) a CMSA Special Servicer Loan File. In addition, the Special Servicer shall from time to time provide the Master Servicer with such information in the Special Servicer's possession regarding the Specially Serviced Loans and REO Properties as may be requested by the Master Servicer and is reasonably necessary for the Master Servicer to prepare each report and any supplemental information required to be provided by the Master Servicer to the Trustee.
(d) Notwithstanding anything herein to the contrary, the failure of the Master Servicer or Special Servicer to disclose any information otherwise required to be disclosed by this Section 4.02 shall not constitute a breach of this Section 4.02 to the extent the Master Servicer or Special Servicer so fails because such disclosure, in the reasonable belief of the Master Servicer or the Special Servicer as the case may be, would violate any applicable law or any provision of a Loan document prohibiting disclosure of information with respect to the Loans or Mortgaged Properties or would constitute a waiver of the attorney-client privilege on behalf of the Trust. The Master Servicer and Special Servicer may disclose any such information or any additional information to any Person so long as such disclosure is consistent with applicable law, the related Loan documents and the Servicing Standard. The Master Servicer or the Special Servicer may affix to any information provided by it any disclaimer it deems appropriate in its reasonable discretion (without suggesting liability on the part of any other party hereto).
(e) If the Master Servicer or the Special Servicer is required to deliver any statement, report or information under any provision of this Agreement (other than reports to be delivered to the Trustee, which shall be delivered directly to the Trustee in a mutually agreeable electronic format), the Master Servicer or the Special Servicer, as the case may be, may satisfy such obligation by (x) physically delivering a paper copy of such statement, report or information, (y) delivering such statement, report or information in a commonly used electronic format or (z) making such statement, report or information available on the Master Servicer's internet website, unless this Agreement expressly specifies a particular method of delivery.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2005-2)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer with respect to the Mortgage Loans and any other applicable Personsfrom FHLMC with respect to the Mortgage Certificate, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges Prepayment Premiums and (C) Excess Interest;
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Delinquency Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(Ev) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool which remains outstanding immediately after such Distribution Date;
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, Loans in the Mortgage Pool at the close of business on the related Determination Date;
(Hviii) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(Iix) with respect to the Mortgage Pool, the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor Borrower is subject or is expected to be subject to a bankruptcy proceeding;
(Jx) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Kxi) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number loan number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date;
(Lxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Mxiii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(Nxiv) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxvi) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxvii) the original Certificate Class Principal Amount Balance or Class Notional Amount as of the Closing Date and the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized LossesLosses and Additional Trust Fund Expenses;
(Rxviii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxix) the Principal Distribution Amount for such Distribution Date;
(Txx) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(Uxxi) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(xxii) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date; and
(xxiii) such additional information as contemplated by Exhibit G hereto. In the case of information furnished pursuant to subclauses (i), (ii), (iii) and (xvii) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Realized Loss Distribution Date Statement may change over time. The Trustee shall make available each month to any interested person the related Distribution Date Statement via its internet website initially located at "xxx.xxxxxxx.xxx/xxxx". In addition, the Trustee shall make available each month, on a restricted basis, solely to each Privileged Person, (i) the CMSA Periodic Loan File delivered for each Distribution Date, the CMSA Loan Setup File, the CMSA Bond Level File, the CMSA Collateral Summary File and the CMSA Property File, (ii) the Servicer Reports, and (iii) as a convenience to such Privileged Persons (and not in furtherance of the distribution thereof under the securities laws), the Prospectus and this Agreement. At the direction of the Depositor, the Trustee shall remove any 132 or all of such restrictions and make any or all of such information available to any person. The Trustee makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor. In addition, the Trustee may disclaim responsibility for any information distributed by the Trustee for which it is not the original source. In connection with providing access to the Trustee's internet website, the Trustee may require registration and acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Trustee shall make copies of the Mortgage Certificate Documents available to any interested person upon request, subject to a reasonable fee to defray the cost of copies. The provisions in this Section shall not limit the Master Servicer's ability to make accessible certain information regarding the Mortgage Loans at a website maintained by the Master Servicer. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (i), (ii) and (iii) of the description of Distribution Date Statements above aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the Internal Revenue Service, and shall provide from time to time such information and computations with respect to the entries on such forms as any Holder of the Residual Certificates may reasonably request. The specification of information to be furnished by the Trustee to the Certificateholders in this Section 4.02 (and any other terms of this Agreement requiring or calling for delivery or reporting of information by the Trustee to Certificateholders and Certificate Owners) shall not limit the Trustee in furnishing, and the Trustee is hereby authorized to furnish, to Certificateholders, Certificate Owners and/or to the public any other information (such other information, collectively, "Additional Information") with respect to the Mortgage Loans, the Mortgaged Properties or the Trust Fund as may be provided to it by the Depositor, the Master Servicer or the Special Servicer or gathered by it in any investigation or other manner from time to time, provided that (A) while there exists any Event of Default, any such Additional Information shall only be furnished with the consent or at the request of the Depositor (except pursuant to clause (E) below), (B) the Trustee shall be entitled to indicate the source of all information furnished by it, and the Trustee may affix thereto any disclaimer it deems appropriate in its sole discretion (together with any warnings as to the confidential nature and/or the uses of such information as it may, in its sole discretion, determine appropriate), (C) the Trustee may notify Certificateholders and Certificate Owners of the availability of any such 133 information in any manner as it, in its sole discretion, may determine, (D) the Trustee shall be entitled (but not obligated) to require payment from each recipient of a reasonable fee for, and its out-of-pocket expenses incurred in connection with, the collection, assembly, reproduction or delivery of any such Additional Information, (E) without the consent of the Depositor, the Trustee may, in its sole discretion, furnish Additional Information to a Rating Agency in any instance, and to the Certificateholders, Certificate Owners and/or the public-at-large if it determines that the furnishing of such information would assist in the evaluation of the investment characteristics or valuation of the Certificates or would be in the best interests of the Certificateholders or is required by applicable law and, in the case of any Additional Information requested by a Certificate Owner, such Certificate Owner has delivered an executed certificate in the form of Exhibit K hereto and (F) the Trustee shall be entitled to distribute or make available such Additional Information in accordance with such reasonable rules and procedures as it may deem necessary or appropriate (which may include the requirement that an agreement that provides such information shall be used solely for purposes of evaluating the investment characteristics or valuation of the Certificates be executed by the recipient, if and to the extent the Trustee deems the same to be necessary or appropriate). Nothing herein shall be construed to impose upon the Trustee any obligation or duty to furnish or distribute any Additional Information to any Person in any instance, and the Trustee shall neither have any liability for furnishing nor for refraining from furnishing Additional Information in any instance. The Trustee shall be entitled (but not required) to request and receive direction from the Depositor as to the manner of delivery of any such Additional Information, if and to the extent the Trustee deems necessary or advisable, and to require that any consent, direction or request given to it pursuant to this Section be made in writing. Upon the authorization of the Depositor, the Trustee shall make available to Bloomberg Financial Markets, L.P. ("Bloomberg") all the electronic reports delivered or made available pursuant to this Section 4.02(a) to the Certificateholders and Certificate Owners using a format and media mutually acceptable to the Trustee and Bloomberg.
(b) No later than the Business Day prior to each Distribution Date;, subject to the last paragraph of this subsection (b), the Master Servicer shall deliver or cause to be delivered to the Trustee (and, if the Master Servicer is not the Special Servicer, the Trustee shall deliver to the Special Servicer) in electronic form mutually acceptable to the Trustee and the Master Servicer the following reports or information: (1) a Delinquent Loan Status Report, (2) an REO Status Report, (3) a Historical Loan Modification Report, (4) a Historical Loss Report and (5) the Servicer Watch List.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on On each Distribution Date, the Certificate Administrator Trustee shall provide or make available available, either in electronic format or by first class mail to each Holder (and, if it shall have certified to the Trustee as to its Ownership Interest in a reportClass of Book-Entry Certificates, including reports each Certificate Owner) of the Certificates, the A-MFL Swap Counterparty and to the Rating Agencies a statement substantially in substantially the form attached hereto set forth as Exhibit D G hereto (the “a "Distribution Date Statement”)") and based upon the information provided by the Master Servicer in accordance with Commercial Mortgage Securities Association guidelines, setting forth, among other things, as to the following information:
(A) the amount of distributions, if any, distributions made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount thereof;setting forth:
(Bi) the amount of distributionsthe distribution, if any, made on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates allocable to (and the Class A) -MFL Regular Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interestin reduction of the Class Principal Balance thereof;
(Cii) the amount of any distributions made the distribution, if any, on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates and the Class R A-MFL Regular Interest allocable to Distributable Certificate Interest or the Class A-MFL Interest Distribution Amount and the amount of the distribution, if any, on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates and the Class A-MFL Regular Interest allocable to Prepayment Premiums, and, with respect to the Class A-MFL Certificates, if applicable, notification that the amount of interest distribution thereon is equal to the interest distribution amount with respect to the Class A-MFL Regular Interest which is being paid as a result of a Class A-MFL Distribution Conversion;
(Diii) the aggregate amount of outstanding P&I Advances (both as to those within any applicable grace period and those which are beyond any applicable grace period, together with the aggregate amount of delinquencies) and other Servicing Advances made in respect of the immediately preceding Distribution Date;
(iv) P&I Advances outstanding as of the Master Servicer Remittance Date;
(v) the aggregate amount of P&I Advances made with respect to the Mortgage Pool and with respect to each Mortgage Loan as Group in respect of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related immediately preceding Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool outstanding immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at Pool as of the close end of business on the related Collection Period for the immediately preceding Determination Date;
(Hviii) as of the Determination Date for the related Distribution Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month30-59 days, (B) delinquent two months60-89 days, (C) delinquent three 90 or more monthsdays, (D) that are Specially Serviced Loans current but are specially serviced or in foreclosure but not delinquent or (E) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and (E) identification of Mortgage Loans the most recently determined Appraised Value and date upon Mortgagor for which the Appraisal was performedis subject to bankruptcy;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(Lix) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day end of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date, the principal balance of the Mortgage Loan as of the date such Mortgage Loan became delinquent;
(Nx) the Accrued Certificate Interest Distribution Amount and Distributable Certificate Interest in respect of each Class of REMIC II Regular Certificates and the Class PEZ A-MFL Regular Interest for such Distribution Date;
(Oxi) any unpaid the aggregate amount of Distributable Certificate Interest Distribution Amount payable in respect of each Class of REMIC II Regular Certificates and the Class PEZ A-MFL Regular Interest on such Distribution Date, including, without limitation, any Distributable Certificate Interest remaining unpaid from prior Distribution Dates;
(xii) any unpaid Distributable Certificate Interest in respect of each Class of REMIC II Regular Certificates and the Class A-MFL Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxiii) the Pass-Pass Through Rate for each Class of REMIC II Regular Certificates and the Class PEZ A-MFL Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount or Notional Amount as of the Closing Date and the Certificate Principal Amount or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Period, and any Realized Loss for such Distribution Date;
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2007-1)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount Balance thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) Interest Distribution Amount, (BAmount and(B) Yield Maintenance Charges and (C) Excess InterestCharges;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R [R] Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination DateLoan, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property [(including with respect to the Outside Non-Serviced Trust Mortgage Loans) )] during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property [(including with respect to the Outside Non-Serviced Trust Mortgage Loans) )] included in the Trust Fund as of the close of business on the last day of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property [(including with respect to the Outside Non-Serviced Trust Mortgage Loans) )] sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates [and Class PEZ Regular Interest Interest] for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates [and Class PEZ Regular Interest Interest] after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates [and Class PEZ Regular Interest Interest] for such Distribution Date;
(Q) the original Certificate Principal Amount Balance or Notional Amount as of the Closing Date and the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Regular Certificates [and each Class PEZ Regular Interest Interest] immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each such Class of Regular Certificates and [or Class PEZ Regular Interest Interest] due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates [or Class PEZ Regular Interest Interest] immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Period, and any Realized Loss for such Distribution Date;
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges Prepayment Premiums and (C) Excess Interest;
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Advances Delinquency Advances, with respect to the Mortgage Pool and with respect to each Mortgage Loan as of the related Determination DateGroup, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(Ev) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool and of each Loan Group immediately before and after such Distribution Date and the percentage of the 205 Cut-Off off Date Principal Balance of the Mortgage Loans Pool and of each Loan Group which remains outstanding immediately after such Distribution Date;
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, Loans in the Mortgage Pool and with respect to each Loan Group at the close of business on the related Determination Date;
(Hviii) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(Iix) with respect to the Mortgage Pool, the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor borrower is subject or is expected to be subject to a bankruptcy proceeding;
(Jx) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Kxi) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number loan number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date;
(Lxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Mxiii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(Nxiv) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxvi) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxvii) the original Certificate Class Principal Amount Balance or Class Notional Amount as of the Closing Date and the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized LossesLosses and Additional Trust Fund Expenses;
(Rxviii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxix) the Principal Distribution Amount, the Loan Group 1 Principal Distribution Amount and the Loan Group 2 Principal Distribution Amount for such Distribution Date;
(Txx) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(Uxxi) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(xxii) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date; and
(xxiii) such additional information as contemplated by Exhibit G hereto. In the case of information furnished pursuant to subclauses (i), (ii), (iii) and (xvii) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Realized Loss Distribution Date Statement may change over time. The Trustee shall make available each month to any interested person the related Distribution Date Statement, the CMSA Bond Level File, the CMSA Collateral Summary File and the CMSA Loan Setup File via its internet website which is initially located at "xxx.xxxxxxxx.xxx." In addition, the Trustee shall make available each month, on a restricted basis, solely to each Privileged Person, (i) the CMSA Loan Periodic Update File delivered for each Distribution Date, the CMSA Property File, the CMSA Comparative Financial Status Report and the CMSA Financial File, (ii) the Servicer Reports, and (iii) as a convenience to such Privileged Persons (and not in furtherance of the distribution thereof under the securities laws), the Prospectus and this Agreement. At the direction of the Depositor, the Trustee shall remove 207 any or all of such restrictions and make any or all of such information available to any person. The Trustee makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor. In addition, the Trustee may disclaim responsibility for any information distributed by the Trustee for which it is not the original source. In connection with providing access to the Trustee's internet website, the Trustee may require registration and acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Trustee may provide such information through means other than (and in lieu of) its website; provided, that (i) GMACCM shall have consented to such alternative means and (ii) Certificateholders shall have received notice of such alternative means. The provisions in this Section shall not limit the Master Servicer's ability to make accessible certain information regarding the Mortgage Loans and Xxxxxxxx Fashion Center Companion Loans at a website maintained by the Master Servicer. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (i), (ii) and (iii) of the description of Distribution Date Statements above aggregated for such Distribution Date;calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the Internal Revenue Service, and shall provide from time to time such information and computations with respect to the entries on such forms as any Holder of the Residual Certificates may reasonably request. The specification of information to be furnished by the Trustee to the Certificateholders in this Section 4.02 (and any other terms of this Agreement requiring or calling for delivery or reporting of information by the Trustee to Certificateholders and Certificate Owners) shall not limit the Trustee in furnishing, and the Trustee is hereby authorized to furnish, to Certificateholders, Certificate Owners and/or to the public any other information (such other information, collectively, "Additional Information") with respect to the Mortgage Loans (including the Xxxxxxxx Fashion Center A/B Loan), the Mortgaged Properties or the Trust Fund as may be provided to it by the Depositor, the Master Servicer or the Special Servicer or gathered by it in any investigation or other manner from time to time; provided, that (A) while there exists any Event of Default, any such Additional Information shall only be furnished with the consent or at the request of the Depositor (except pursuant to clause (E) below), (B) the Trustee shall be entitled to indicate the source of all information furnished by it, and the Trustee may affix thereto any disclaimer it deems appropriate in its sole discretion (together with any warnings as to the confidential nature and/or the uses of such information as it may, in its sole discretion, determine appropriate), (C) the Trustee may notify Certificateholders and Certificate Owners of the availability of any such information in any manner as it, in its sole discretion, may determine, (D) the Trustee shall be entitled (but not obligated) to require payment from each recipient of a reasonable fee for, and its out-of-pocket expenses incurred in connection with, the collection, assembly, reproduction or delivery of any such Additional Information, (E) without the consent of the Depositor, the Trustee may, in its sole discretion, furnish Additional Information to a Rating Agency in any instance, and to the Certificateholders, Certificate Owners and/or the public-at-large if it determines that the furnishing of such information would assist in the evaluation of the investment characteristics or valuation of the Certificates or would be in the best interests of the Certificateholders or is required by applicable law and, in the case of any Additional Information requested by a Certificate Owner or Certificateholder, such Certificate Owner or Certificateholder has delivered an executed certificate in the form of Exhibit H hereto and (F) the Trustee shall be entitled to distribute or make available such Additional Information in accordance with such reasonable rules and procedures as it may deem necessary or appropriate (which may include the requirement that an agreement that provides such information shall be used solely for purposes of evaluating the investment characteristics or valuation of the Certificates be executed by the recipient, if and to the extent the Trustee deems the same to be necessary or appropriate). Nothing herein shall be construed to impose upon the Trustee any obligation or duty to furnish or distribute any Additional Information to any Person in any instance, and the Trustee shall neither have any liability for furnishing nor for refraining from furnishing Additional Information in any instance. The Trustee shall be entitled (but not required) to request and receive direction from the Depositor as to the manner of delivery of any such Additional Information, if and to the extent the Trustee deems necessary or advisable, and to require that any consent, direction or request given to it pursuant to this Section be made in writing. Upon the authorization of the Depositor, the Trustee shall make available to Bloomberg Financial Markets, L.P. ("Bloomberg") or such other vendor chosen by the Depositor, all the electronic reports delivered or made available pursuant to this Section 4.02(a) to the Certificateholders and Certificate Owners using a format and media mutually acceptable to the Trustee and Bloomberg.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on On each Distribution Date, the Trustee shall forward by mail to each Holder (and, if it shall have certified to the Trustee as to its Ownership Interest in a Class of Book-Entry Certificates, each Certificate Administrator shall provide or make available Owner) of the REMIC II Regular Certificates and to the Rating Agencies a report, including reports in substantially the form attached hereto as Exhibit D statement (the “a "Distribution Date Statement”"), setting forthsubstantially in the form contemplated on pages B-1 through B-9 of the Prospectus Supplement, among other things, as to the following information:
(A) the amount of distributions, if any, distributions made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount thereof;setting forth:
(Bi) the amount of distributionsthe distribution, if any, made on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interestin reduction of the Class Principal Balance thereof;
(Cii) the amount of any distributions made the distribution, if any, on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates allocable to Distributable Certificate Interest and the amount of the distribution, if any, on such Distribution Date to the Holders of each Class R Certificatesof REMIC II Regular Certificates allocable to Prepayment Premiums;
(Diii) the Available Distribution Amount for such Distribution Date;
(iv) the aggregate amount of outstanding P&I Advances with made in respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination immediately preceding Distribution Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fv) the aggregate Stated Principal Balance of the Mortgage Loans Pool outstanding immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(Gvi) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at Pool as of the end of the Collection Period for the immediately preceding Distribution Date;
(vii) as of the close of business on the related Determination Date;
(H) as last day of the Determination Datemost recently ended calendar month, the number and number, aggregate unpaid principal balance and specific identification (by loan number) of Mortgage Loans (A) delinquent one month30-59 days, (B) delinquent two months60-89 days, (C) delinquent three 90 or more monthsdays, and (D) that are Specially Serviced Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(Iviii) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value (within the meaning of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount or Notional Amount as of the Closing Date and the Certificate Principal Amount or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Period, and any Realized Loss for such Distribution Date;12 C.F.R. ss.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Capital Funding Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “Distribution Date "Monthly Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates, the Class S Certificates and the 250 Class FNB Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges and Prepayment Premiums, (C) Excess InterestInterest and (D) Class FNB Available Distribution Amount;
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Advances Delinquency Advances, with respect to the Mortgage Pool and with respect to each Mortgage Loan as of the related Determination DateGroup, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(Ev) the aggregate amount of compensation retained by or paid to the Trustee and the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period and any other fees or Interest Accrual Period, as applicableexpenses accrued and paid from the Trust Fund;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool and of each Loan Group immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool and of each Loan Group which remains outstanding immediately after such Distribution DateDate (separately identifying the portion of the First National Bank Center Loan or any successor REO Loan with respect thereto backing the Class FNB Certificates);
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate (and interest rates by distributional groups or ranges) of the outstanding Mortgage Loans, Loans in the Mortgage Pool and with respect to each Loan Group at the close of business on the related Determination Date;
(Hviii) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(Iix) with respect to the Mortgage Pool, the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor borrower is subject or is expected to be subject to a bankruptcy proceeding;
(Jx) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Kxi) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number control number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date;; 251
(Lxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number control number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Mxiii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number control number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(Nxiv) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxvi) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxvii) the original Certificate Class Principal Amount Balance or Class Notional Amount as of the Closing Date and the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized LossesLosses and Additional Trust Fund Expenses;
(Rxviii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxix) the Principal Distribution Amount, the Loan Group 1 Principal Distribution Amount, the Loan Group 2 Principal Distribution Amount and the Class FNB Principal Distribution Amount for such Distribution Date;
(Txx) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(Uxxi) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period; 252
(xxii) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date;
(xxiii) breaches of any Realized Loss covenants under the Pooling and Servicing Agreement of which the Trustee, the Master Servicer or the Special Servicer has received written notice; and
(xxiv) such additional information as contemplated by Exhibit G hereto. In the case of information furnished pursuant to subclauses (i), (ii), (iii) and (xvii) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Monthly Statement may change over time. The Trustee shall make available each month to the general public the related Monthly Statement, the CMSA Bond Level File, the CMSA Collateral Summary File and the CMSA Loan Setup File via its internet website which is initially located at "xxx.xxxxxxx.xxx/xxxx." In addition, the Trustee shall make available each month, on a restricted basis, solely to each Privileged Person, (i) the CMSA Loan Periodic Update File delivered for each Distribution Date, the CMSA Property File, the CMSA Comparative Financial Status Report, the CMSA Reconciliation of Funds Report and the CMSA Financial File, (ii) the Servicer Reports, and (iii) as a convenience to such Privileged Persons (and not in furtherance of the distribution thereof under the securities laws), the Prospectus and this Agreement (which may also be made available to the general public). At the direction of the Depositor, the Trustee shall remove any or all of such restrictions and make any or all of such information available to any person. The Trustee makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor. In addition, the Trustee may disclaim responsibility for any information distributed by the Trustee for which it is not the original source. In connection with providing access to the Trustee's internet website, the Trustee may require registration and acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Trustee may provide such information through means other than (and in lieu of) its website; provided, that (i) GMACCM shall have consented to such alternative means and (ii) Certificateholders shall have received notice of such alternative means. The provisions in this Section shall not limit the Master Servicer's ability to make accessible certain information regarding the Mortgage Loans and each Serviced Whole Loan at a website maintained by the Master Servicer. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (i), (ii) and (iii) of the description of Monthly Statements above aggregated for such Distribution Date;calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the Internal Revenue Service, and shall provide from time to time such information and computations with respect to the entries on such forms as any Holder of the Residual Certificates may reasonably request. The specification of information to be furnished by the Trustee to the Certificateholders in this Section 4.02 (and any other terms of this Agreement requiring or calling for delivery or reporting of information by the Trustee to Certificateholders and Certificate Owners) shall not limit the Trustee in furnishing, and the Trustee is hereby authorized to furnish, to Certificateholders, Certificate Owners, Directing Certificateholders and/or to the public any other information (such other information, collectively, "Additional Information") with respect to the Mortgage Loans, the Serviced Whole Loans, the Mortgaged Properties or the Trust Fund as may be provided to it by the Depositor, the Master Servicer or the Special Servicer or gathered by it in any investigation or other manner from time to time; provided, that (A) while there exists any Event of Default, any such Additional Information shall only be furnished with the consent or at the request of the Depositor (except pursuant to clause (E) below), (B) the Trustee shall be entitled to indicate the source of all information furnished by it, and the Trustee may affix thereto any disclaimer it deems appropriate in its sole discretion (together with any warnings as to the confidential nature and/or the uses of such information as it may, in its sole discretion, determine appropriate), (C) the Trustee may notify Certificateholders, Certificate Owners and Directing Certificateholder of the availability of any such information in any manner as it, in its sole discretion, may determine, (D) the Trustee shall be entitled (but not obligated) to require payment from each recipient of a reasonable fee for, and its out-of-pocket expenses incurred in connection with, the collection, assembly, reproduction or delivery of any such Additional Information, (E) without the consent of the Depositor, the Trustee may, in its sole discretion, furnish Additional Information to a Rating Agency in any instance, and to the Certificateholders, Certificate Owners, Directing Certificateholders and/or the public-at-large if it determines that the furnishing of such information would assist in the evaluation of the investment characteristics or valuation of the Certificates or would be in the best interests of the Certificateholders or Directing Certificateholder or is required by applicable law and, in the case of any Additional Information requested by a Certificate Owner or Certificateholder or Directing Certificateholder, such Certificate Owner or Certificateholder or Directing Certificateholder has delivered an executed certificate in the form of Exhibit H-1 hereto and (F) the Trustee shall be entitled to distribute or make available such Additional Information in accordance with such reasonable rules and procedures as it may deem necessary or appropriate (which may include the requirement that an agreement that provides such information shall be used solely for purposes of evaluating the investment characteristics or valuation of the Certificates be executed by the recipient, if and to the extent the Trustee deems the same to be necessary or appropriate). Nothing herein shall be construed to impose upon the Trustee any obligation or duty to furnish or distribute any Additional Information to any Person in any instance, and the Trustee shall neither have any liability for furnishing nor for refraining from furnishing Additional Information in any instance. The Trustee shall be entitled (but not required) to request and receive direction from the Depositor as to the manner of delivery of any such Additional Information, if and to the 254 extent the Trustee deems necessary or advisable, and to require that any consent, direction or request given to it pursuant to this Section 4.02 be made in writing. Upon the authorization of the Depositor, the Trustee shall make available to Bloomberg Financial Markets, L.P. ("Bloomberg"), Xxxxx LLC and Intex Solutions LLC or such other vendor(s) chosen by the Depositor, all the electronic reports delivered or made available pursuant to this Section 4.02(a) to the Certificateholders and Certificate Owners using a format and media mutually acceptable to the Trustee and such vendor.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GMAC Commercial Mortgage Securities, Inc. Series 2006-C1 Trust)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on On each Distribution Date, the Certificate Administrator Trustee shall provide or make available available, either in electronic format or by first-class mail to each Holder (and, if it shall have certified to the Trustee as to its Ownership Interest in a reportClass of Book-Entry Certificates, including reports in substantially each Certificate Owner) of the form attached hereto as Exhibit D Certificates and to the Rating Agencies a statement (the “a "Distribution Date Statement”"), setting forthsubstantially in the form contemplated on pages C-1 through C-17 of the Prospectus Supplement, among other things, as to the following information:
(A) the amount of distributions, if any, distributions made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount thereof;setting forth:
(Bi) the amount of distributionsthe distribution, if any, made on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates, each Class of Class CC Certificates, each Class of Class SS Certificates allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interesteach Class of UH Certificates in reduction of the Class Principal Balance thereof;
(Cii) the amount of any distributions made the distribution, if any, on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates allocable to Distributable Certificate Interest and the amount of the distribution, if any, on such Distribution Date to the Holders of each Class R Certificatesof REMIC II Regular Certificates allocable to Prepayment Premiums;
(Diii) the aggregate amount of outstanding P&I Advances with respect the distribution, if any, on such Distribution Date to the Holders of each Class of Class CC Certificates, each Class of Class SS Certificates and each Class of Class UH Certificates, as applicable, allocable to Distributable CC Component Mortgage Loan as of the related Determination Date, and the total outstanding other Certificate Interest or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Distributable SS Component Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual PeriodCertificate Interest, as applicable;
(Fiv) the Available Distribution Amount, the CC Component Mortgage Loan Available Distribution Amount, the SS Component Mortgage Loan Available Distribution Amount and the UH Component Mortgage Loan Available Distribution Amount for such Distribution Date;
(v) the aggregate amount of P&I Advances (both as to those within any applicable grace period and those which are beyond any applicable grace period, together with the aggregate amount of delinquencies) and other Servicing Advances made in respect of the immediately preceding Distribution Date;
(vi) P&I Advances outstanding as of the Master Servicer Remittance Date;
(vii) the aggregate amount of P&I Advances made with respect to the Mortgage Pool and with respect to each Loan Group in respect of the immediately preceding Determination Date;
(viii) the aggregate Stated Principal Balance of the Mortgage Loans Pool and each Loan Group (less (a) the CC Component Mortgage Loan Subordinate Balance of each of the CC Component Mortgage Loan Subordinate Components), (b) the SS Component Mortgage Loan Subordinate Balance of each of the SS Component Mortgage Loan Subordinate Components) and (c) the UH Component Mortgage Loan Subordinate Balance of each of the UH Component Mortgage Loan Subordinate Components) outstanding immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(Gix) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at Pool and each Loan Group as of the close end of business on the related Collection Period for the immediately preceding Determination Date;
(Hx) as of the Determination Date for the related Distribution Date, the number and number, aggregate unpaid principal balance and specific identification (by loan number) of Mortgage Loans (A) delinquent one month30-59 days, (B) delinquent two months60-89 days, (C) delinquent three 90 or more monthsdays, (D) that are Specially Serviced Loans current but are specially serviced or in foreclosure but not delinquent or a REO Property and (E) as identification of Mortgage Loans the Mortgagor for which is subject to which foreclosure proceedings have been commencedbankruptcy;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(Lxi) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day end of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date and Date, the most recently determined Appraised Value and principal balance of the Mortgage Loan as of the date upon which the Appraisal was performedsuch Mortgage Loan became delinquent;
(Mxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment PeriodAccrued Certificate Interest, the Distributable Certificate Interest, Distributable CC Component Mortgage Loan Number of the related Certificate Interest, Distributable CC Component Mortgage Loan, Loan Certificate Interest and the amount of Liquidation Proceeds and other amounts, if any, received Distributable UH Component Mortgage Loan Certificate Interest in respect of such REO Property during the related Prepayment Periodeach Class of REMIC II Regular Certificates, the portion thereof included in the Available Funds for such Distribution Date each Class of Class CC Certificates, each Class of Class SS Certificates, and the balance each Class of the Excess Liquidation Proceeds Reserve Account Class UH Certificates, as applicable, for such Distribution Date;
(Nxiii) the aggregate amount of Distributable Certificate Interest, Distributable CC Component Mortgage Loan Certificate Interest Distribution Amount and Distributable SS Component Mortgage Loan Certificate Interest payable in respect of each Class of REMIC II Regular Certificates Certificates, each Class of Class CC Certificates, each Class of Class SS Certificates, and each Class PEZ Regular Interest for of Class UH Certificates, as applicable, on such Distribution Date, including, without limitation, any Distributable Certificate Interest remaining unpaid from prior Distribution Dates;
(Oxiv) any unpaid Distributable Certificate Interest, Distributable CC Component Mortgage Loan Certificate Interest Distribution Amount and Distributable SS Component Mortgage Loan Certificate Interest in respect of Class of REMIC II Regular Certificates, each Class of Regular Class CC Certificates, each Class of Class SS Certificates and each Class PEZ Regular Interest of Class UH Certificates, as applicable, after giving effect to the distributions made on such Distribution Date;
(Pxv) the Pass-Through Rate for each Class of REMIC II Regular Certificates, each Class of Class CC Certificates, each Class of Class SS Certificates and each Class PEZ Regular Interest of Class UH Certificates, as applicable, for such Distribution Date;
(Qxvi) the original Certificate Principal Distribution Amount or Notional Amount as with respect to the Mortgage Pool and each Loan Group for such Distribution Date, separately identifying the amounts distributable to each Class of REMIC II Regular Certificates, to each Class of Class CC Certificates, to each Class of Class SS Certificates, and to each Class of Class UH Certificates;
(xvii) the Closing Date aggregate of all Realized Losses incurred during the related Collection Period and all Additional Trust Fund Expenses incurred during the related Collection Period, and an itemization of all such Additional Trust Fund Expenses;
(xviii) the Certificate Principal Amount Balance or Notional Amount, as the case may be, of Class of REMIC II Regular Certificates, each Class of Regular Class CC Certificates, each Class of Class SS Certificates and each Class PEZ Regular Interest of Class UH Certificates outstanding immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest therein due to the allocation of Realized LossesLosses and Additional Trust Fund Expenses on such Distribution Date;
(Rxix) the Certificate Factor for each Class of REMIC II Regular Certificates, each Class of Class CC Certificates, each Class of Class SS Certificates or and each Class PEZ Regular Interest of Class UH Certificates immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(Txx) the aggregate amount of Principal Prepayments made servicing fees paid to the Master Servicer and the Special Servicer, collectively and separately, during the related Prepayment Collection Period, and the aggregate amount ;
(xxi) a brief description of any Prepayment Interest Excesses received material waiver, modification or amendment of any Loan entered into by the Master Servicer or Special Servicer pursuant to Section 3.20 during the related Collection Period;
(xxii) current and Prepayment Interest Shortfalls incurred in connection therewith; cumulative outstanding Advances with respect to the Mortgage Pool and each Loan Group;
(Uxxiii) current prepayments and curtailments;
(xxiv) the number and aggregate amount principal balance of losses on Mortgage Loans and Additional Trust Fund Expensesas to which foreclosure proceedings have been commenced as to the related Mortgaged Property;
(xxv) the ratings from all Rating Agencies for all classes of Certificates;
(xxvi) the amounts, if any, incurred with distributed in respect to of each Class of the Trust Fund during Class CC Certificates, the related Prepayment PeriodClass SS Certificates and the Class UH Certificates, and any Realized Loss for such Distribution Dateas applicable;
(xxvii) the amounts held in the Excess Liquidation Proceeds Account; and
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Commercial Mort. Pass Thr. Certs SER 2004-3)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges Prepayment Premiums and (C) Excess Interest;
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Delinquency Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as end of the related Determination Dateprior calendar month;
(Ev) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool which remains outstanding immediately after such Distribution Date;; 134
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, Loans in the Mortgage Pool at the close of business on the related Determination Date;
(Hviii) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or delinquent, (E) as to which foreclosure proceedings have been commenced;
commenced or (IF) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor Borrower is subject or is expected to be subject to a bankruptcy proceeding;
(Jix) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Kx) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number loan number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date;
(Lxi) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Mxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(Nxiii) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxiv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;; 135
(Pxv) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxvi) the original Certificate Class Principal Amount Balance or Class Notional Amount as of the Closing Date and the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized LossesLosses and Additional Trust Fund Expenses;
(Rxvii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxviii) the Principal Distribution Amount for such Distribution Date;
(Txix) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(Uxx) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(xxi) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date;
(xxii) the net amount of any Realized Loss Balloon Payment Interest Excesses and Balloon Payment Interest Shortfalls for the related Collection Period;
(xxiii) [reserved]; and
(xxiv) such additional information as contemplated by Exhibit G hereto. In the case of information furnished pursuant to subclauses (i), (ii), (iii) and (xvi) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Distribution Date Statement may change over time. The Trustee shall make available to Certificateholders and other interested parties certain information via electronic transmission as may be agreed upon by the Depositor and the Trustee, including the information and reports described in clauses (1) through (6) of clause (b) below and the CMSA Periodic Loan File delivered for each Distribution Date. In addition, the Trustee shall make available to each Certificateholder, to each Person that provides the Trustee with an Investor Certification, to each party hereto, to each Underwriter and to the Rating Agencies, a report (based on information received from the Master Servicer and in a format mutually acceptable to the Trustee and the Master Servicer) containing, information regarding the Mortgage Pool as of the close of business on the related Determination Date, which report shall contain substantially the categories of information regarding the Mortgage Loans set forth in Exhibit G hereto (calculated, where applicable, on the basis of the most recent relevant information provided by the Mortgagors to the Master Servicer or the Special Servicer and by the Master Servicer or the Special Servicer, as the case may be, to the Trustee) and such information shall be presented in a tabular format substantially similar to the formats utilized in Exhibit G hereto. On each Distribution Date, the Trustee shall make (x) certain information contained in the monthly Distribution Date Statement available through its ASAP System to Certificateholders and Certificate Owners calling (714) 282- 5518 and requesting statement No. 489 and (y) certain information regarding the Mortgage Loans available in electronic format through its dial up bulletin board service, to Certificateholders and Certificate Owners dialing telephone number (000) 000-0000. Additionally, upon approval of the Depositor, certain information regarding the Mortgage Loans will be made accessible at the website maintained by LaSalle Bank National Association at xxx.xxxxxx.xxx. Such information shall be accessible only with the use of a password provided by the Trustee to each Person that provides the Trustee with an Investor Certification; provided, however, that the Rating Agencies and the other parties to this Agreement shall not be required to provide such certification; and provided, further, that the Depositor may instruct the Trustee at any time not to require the use of a password or the receipt of a certification. The Trustee makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor. In addition, the Trustee may disclaim responsibility for any information distributed by the Trustee for which it is not the original source. In connection with providing access to the Trustee's internet website or electronic bulletin board, the Trustee may require registration and acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Trustee may provide such information through means other than (and in lieu of) its ASAP System, dial up bulletin board service or website provided that (i) GMACCM shall have consented to such alternative means and (ii) Certificateholders shall have received notice of such alternative means. The provisions in this Section shall not limit the Master Servicer's ability to make accessible certain information regarding the Mortgage Loans at a website maintained by the Master Servicer. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (i), (ii) and (iii) of the description of Distribution Date Statements above aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the Internal Revenue Service, and shall provide from 137 time to time such information and computations with respect to the entries on such forms as any Holder of the Residual Certificates may reasonably request. The specification of information to be furnished by the Trustee to the Certificateholders in this Section 4.02 (and any other terms of this Agreement requiring or calling for delivery or reporting of information by the Trustee to Certificateholders and Certificate Owners) shall not limit the Trustee in furnishing, and the Trustee is hereby authorized to furnish, to Certificateholders, Certificate Owners and/or to the public any other information (such other information, collectively, "Additional Information") with respect to the Mortgage Loans, the Mortgaged Properties or the Trust Fund as may be provided to it by the Depositor, the Master Servicer or the Special Servicer or gathered by it in any investigation or other manner from time to time, provided that (A) while there exists any Event of Default, any such Additional Information shall only be furnished with the consent or at the request of the Depositor (except pursuant to clause (E) below), (B) the Trustee shall be entitled to indicate the source of all information furnished by it, and the Trustee may affix thereto any disclaimer it deems appropriate in its sole discretion (together with any warnings as to the confidential nature and/or the uses of such information as it may, in its sole discretion, determine appropriate), (C) the Trustee may notify Certificateholders and Certificate Owners of the availability of any such information in any manner as it, in its sole discretion, may determine, (D) the Trustee shall be entitled (but not obligated) to require payment from each recipient of a reasonable fee for, and its out-of-pocket expenses incurred in connection with, the collection, assembly, reproduction or delivery of any such Additional Information, (E) without the consent of the Depositor, the Trustee may, in its sole discretion, furnish Additional Information to a Rating Agency in any instance, and to the Certificateholders, Certificate Owners and/or the public-at-large if it determines that the furnishing of such information would assist in the evaluation of the investment characteristics or valuation of the Certificates or would be in the best interests of the Certificateholders or is required by applicable law and, in the case of any Additional Information requested by a Certificate Owner, such Certificate Owner has delivered an executed certificate in the form of Exhibit K hereto and (F) the Trustee shall be entitled to distribute or make available such Additional Information in accordance with such reasonable rules and procedures as it may deem necessary or appropriate (which may include the requirement that an agreement that provides such information shall be used solely for purposes of evaluating the investment characteristics or valuation of the Certificates be executed by the recipient, if and to the extent the Trustee deems the same to be necessary or appropriate). Nothing herein shall be construed to impose upon the Trustee any obligation or duty to furnish or distribute any Additional Information to any Person in any instance, and the Trustee shall neither have any liability for furnishing nor for refraining from furnishing Additional Information in any instance. The Trustee shall be entitled (but not required) to request and receive direction from the Depositor as to the manner of delivery of any such Additional Information, if and to the extent the Trustee deems necessary or advisable, and to require that any consent, direction or request given to it pursuant to this Section be made in writing. Upon the authorization of the Depositor, the Trustee shall make available to Bloomberg Financial Markets, L.P. ("Bloomberg") all the electronic reports delivered or made 138 available pursuant to this Section 4.02(a) to the Certificateholders and Certificate Owners using a format and media mutually acceptable to the Trustee and Bloomberg.
(b) No later than the Business Day prior to each Distribution Date;, subject to the last paragraph of this subsection (b), the Master Servicer shall deliver or cause to be delivered to the Trustee (and, if the Master Servicer is not the Special Servicer, the Trustee shall deliver to the Special Servicer) in electronic form mutually acceptable to the Trustee and the Master Servicer the following reports or information: (1) a Delinquent Loan Status Report, (2) an REO Status Report, (3) a Historical Loan Modification Report, (4) a Historical Loss Report and (5) the Servicer Watch List.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges Prepayment Premiums and (C) Excess Interest;
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Delinquency Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(Ev) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool which remains outstanding immediately after such Distribution Date;
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, Loans in the Mortgage Pool at the close of business on the related Determination Date;
(Hviii) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(Iix) with respect to the Mortgage Pool, the aggregate Stated Principal Balance of Mortgage Loans and Loan Groups as to which the related Mortgagor Borrower is subject or is expected to be subject to a bankruptcy proceeding;
(Jx) with respect to any Mortgage Loan or Loan Group as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan or Loan Group as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Kxi) as to any Mortgage Loan repurchased, substituted for or Companion Loan repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the loan number thereof (or the loan number of the related Loan Number thereof Group) and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Certificate Distribution Amount for such Distribution Date;
(Lxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage LoanLoan or Loan Group, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment 141 Collection Period and the portion thereof included in the Available Funds Certificate Distribution Amount or the Available Companion Distribution Amount, as applicable, for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Mxiii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage LoanLoan or Loan Group, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds Certificate Distribution Amount or the Available Companion Distribution Amount, as applicable, for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(Nxiv) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxvi) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxvii) the original Certificate Class Principal Amount Balance or Class Notional Amount as of the Closing Date and the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized LossesLosses and Additional Trust Fund Expenses;
(Rxviii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxix) the Principal Distribution Amount for such Distribution Date;
(Txx) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(Uxxi) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(xxii) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date; and
(xxiii) such additional information as contemplated by Exhibit G hereto. In the case of information furnished pursuant to subclauses (i), (ii), (iii) and (xvii) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Realized Loss Distribution Date Statement may change over time. The Trustee shall make available to Certificateholders and other interested parties certain information via electronic transmission as may be agreed upon by the Depositor and the Trustee, including the information and reports described in clauses (1) through (7) of clause (b) below and the CMSA Periodic Loan File delivered for each Distribution Date. In addition, the Trustee shall make available to each Certificateholder, to each Person that provides the Trustee with an Investor Certification, to each party hereto, to each Underwriter and to the Rating Agencies, a report (based on information received from the Master Servicer and in a format mutually acceptable to the Trustee and the Master Servicer) containing, information regarding the Mortgage Pool and the Companion Loans as of the close of business on the related Determination Date, which report shall contain substantially the categories of information regarding the Mortgage Loans and the Companion Loans set forth in Exhibit G hereto (calculated, where applicable, on the basis of the most recent relevant information provided by the Mortgagors to the Master Servicer or the Special Servicer and by the Master Servicer or the Special Servicer, as the case may be, to the Trustee) and such information shall be presented in a tabular format substantially similar to the formats utilized in Exhibit G hereto. On each Distribution Date, the Trustee shall make certain information contained in the monthly Distribution Date Statement available through its website initially located at xxx.xxxxxx.xxx. Such information shall be accessible only with the use of a password provided by the Trustee to each Person that provides the Trustee with an Investor Certification; provided, however, that the Rating Agencies and the other parties to this Agreement shall not be required to provide such certification; and provided, further, that the Depositor may instruct the Trustee at any time not to require the use of a password or the receipt of a certification. At the direction of the Depositor, the Trustee shall remove any or all of such restrictions and make any or all of such information available to any person. The Trustee makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor. In addition, the Trustee may disclaim responsibility for any information distributed by the Trustee for which it is not the original source. In connection with providing access to the Trustee's internet website, the Trustee may require registration and acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Trustee may provide such information through means other than (and in lieu of) its website provided that (i) GMACCM shall have consented to such alternative means and (ii) Certificateholders shall have received notice of such alternative means. The provisions in this Section shall not limit the Master Servicer's ability to make accessible certain information regarding the Mortgage Loans and Companion Loans at a website maintained by the Master Servicer. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (i), (ii) and (iii) of the description of Distribution Date Statements above aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the 143 Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the Internal Revenue Service, and shall provide from time to time such information and computations with respect to the entries on such forms as any Holder of the Residual Certificates may reasonably request. The specification of information to be furnished by the Trustee to the Certificateholders in this Section 4.02 (and any other terms of this Agreement requiring or calling for delivery or reporting of information by the Trustee to Certificateholders and Certificate Owners) shall not limit the Trustee in furnishing, and the Trustee is hereby authorized to furnish, to Certificateholders, Certificate Owners and/or to the public any other information (such other information, collectively, "Additional Information") with respect to the Mortgage Loans and Companion Loans, the Mortgaged Properties or the Trust Fund as may be provided to it by the Depositor, the Master Servicer or the Special Servicer or gathered by it in any investigation or other manner from time to time, provided that (A) while there exists any Event of Default, any such Additional Information shall only be furnished with the consent or at the request of the Depositor (except pursuant to clause (E) below), (B) the Trustee shall be entitled to indicate the source of all information furnished by it, and the Trustee may affix thereto any disclaimer it deems appropriate in its sole discretion (together with any warnings as to the confidential nature and/or the uses of such information as it may, in its sole discretion, determine appropriate), (C) the Trustee may notify Certificateholders, and Certificate Owners of the availability of any such information in any manner as it, in its sole discretion, may determine, (D) the Trustee shall be entitled (but not obligated) to require payment from each recipient of a reasonable fee for, and its out-of-pocket expenses incurred in connection with, the collection, assembly, reproduction or delivery of any such Additional Information, (E) without the consent of the Depositor, the Trustee may, in its sole discretion, furnish Additional Information to a Rating Agency in any instance, and to the Certificateholders, Certificate Owners, and/or the public-at-large if it determines that the furnishing of such information would assist in the evaluation of the investment characteristics or valuation of the Certificates or would be in the best interests of the Certificateholders or is required by applicable law and, in the case of any Additional Information requested by a Certificate Owner or Certificateholder, such Certificate Owner or Certificateholder has delivered an executed certificate in the form of Exhibit K hereto and (F) the Trustee shall be entitled to distribute or make available such Additional Information in accordance with such reasonable rules and procedures as it may deem necessary or appropriate (which may include the requirement that an agreement that provides such information shall be used solely for purposes of evaluating the investment characteristics or valuation of the Certificates be executed by the recipient, if and to the extent the Trustee deems the same to be necessary or appropriate). Nothing herein shall be construed to impose upon the Trustee any obligation or duty to furnish or distribute any Additional Information to any Person in any instance, and the Trustee shall neither have any liability for furnishing nor for refraining from furnishing Additional Information in any instance. The Trustee shall be entitled (but not required) to request and receive direction from the Depositor as to the manner of delivery of any such Additional Information, if and to the extent the Trustee deems necessary or advisable, and 144 to require that any consent, direction or request given to it pursuant to this Section be made in writing. Upon the authorization of the Depositor, the Trustee shall make available to Bloomberg Financial Markets, L.P. ("Bloomberg"), or any other vendor chosen by the Depositor, all the electronic reports delivered or made available pursuant to this Section 4.02(a) to the Certificateholders and Certificate Owners using a format and media mutually acceptable to the Trustee and Bloomberg.
(b) No later than the Business Day prior to each Distribution Date;, subject to the last paragraph of this subsection (b), the Master Servicer shall deliver or cause to be delivered to the Trustee (and, if the Master Servicer is not the Special Servicer, the Trustee shall deliver to the Special Servicer) in electronic form mutually acceptable to the Trustee and the Master Servicer the following reports or information: (1) a Delinquent Loan Status Report, (2) an REO Status Report, (3) a Historical Loan Modification Report, (4) a Historical Loss Report, (5) the Servicer Watch List, (6) the CMSA Financial File and (7) the CMSA Property File Report.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges Prepayment Premiums and (C) Excess Interest;
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Delinquency Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as end of the related Determination Dateprior calendar month;
(Ev) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool which remains outstanding immediately after such Distribution Date;
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, Loans in the Mortgage Pool at the close of business on the related Determination Date;
(Hviii) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or delinquent, (E) as to which foreclosure proceedings have been commenced;
commenced or (IF) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor Borrower is subject or is expected to be subject to a bankruptcy proceeding;; 139
(Jix) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Kx) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number loan number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date;
(Lxi) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Mxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(Nxiii) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxiv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxv) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxvi) the original Certificate Class Principal Amount Balance or Class Notional Amount as of the Closing Date and the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;Losses and Additional Trust Fund Expenses; 140
(Rxvii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxviii) the Principal Distribution Amount for such Distribution Date;
(Txix) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(Uxx) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(xxi) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date;
(xxii) the net amount of any Realized Loss Balloon Payment Interest Excesses and Balloon Payment Interest Shortfalls for the related Collection Period;
(xxiii) [reserved]; and
(xxiv) such additional information as contemplated by Exhibit G hereto. In the case of information furnished pursuant to subclauses (i), (ii), (iii) and (xvi) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Distribution Date Statement may change over time. The Trustee shall make available to Certificateholders and other interested parties certain information via electronic transmission as may be agreed upon by the Depositor and the Trustee, including the information and reports described in clauses (i) through (vi) of clause (b) below, the CSSA Bond Level File, CSSA Collateral Summary File, CSSA Periodic Loan File and CSSA Property File delivered for each Distribution Date as updated for each Distribution Date and each of the reports delivered to the Trustee pursuant to clauses (1) through (5) of subsection (b) below. In addition, the Trustee shall make available to each Certificateholder, to each Person that provides the Trustee with an Investor Certification, to each party hereto, to each Underwriter and to the Rating Agencies, a report (based on information received from the Master Servicer and in a format mutually acceptable to the Trustee and the Master Servicer) containing, information regarding the Mortgage Pool as of the close of business on the related Determination Date, which report shall contain substantially the categories of information regarding the Mortgage Loans set forth in Exhibit G hereto (calculated, where applicable, on the basis of the most recent relevant information provided by the Mortgagors to the Master Servicer or the Special Servicer and by the Master Servicer or the Special Servicer, as the case may be, to the Trustee) and such information shall be presented in a tabular format substantially similar to the formats utilized in Exhibit G hereto. Upon approval of the Depositor, certain additional information regarding the Mortgage Loans will be made accessible at the website maintained by the Trustee at 141 "xxx.xxxxxxx.xxx/xxxx". Such information shall be accessible only with the use of a password provided by the Trustee to each Person that provides the Trustee with an Investor Certification; provided, however, that the Rating Agencies and the other parties to this Agreement shall not be required to provide such certification; and provided, further, that the Depositor may instruct the Trustee at any time not to require the use of a password or the receipt of a certification. The Trustee makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor. In addition, the Trustee may disclaim responsibility for any information distributed by the Trustee for which it is not the original source. In connection with providing access to the Trustee's internet website, the Trustee may require registration and acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Trustee may provide such information through means other than (and in lieu of) its or website provided that (i) GMACCM shall have consented to such alternative means and (ii) Certificateholders shall have received notice of such alternative means. The provisions in this Section shall not limit the Master Servicer's ability to make accessible certain information regarding the Mortgage Loans at a website maintained by the Master Servicer. Within a reasonable period of time after the end of each calendar year and not later than March 31 of each year, the Trustee shall upon request furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (i), (ii) and (iii) of the description of Distribution Date Statements above aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the Internal Revenue Service, and shall provide from time to time such information and computations with respect to the entries on such forms as any Holder of the Residual Certificates may reasonably request. The specification of information to be furnished by the Trustee to the Certificateholders in this Section 4.02 (and any other terms of this Agreement requiring or calling for delivery or reporting of information by the Trustee to Certificateholders and Certificate Owners) shall not limit the Trustee in furnishing, and the Trustee is hereby authorized to furnish, to Certificateholders, Certificate Owners and/or to the public any other information (such other information, collectively, "Additional Information") with respect to the Mortgage Loans, the Mortgaged Properties or the Trust Fund as may be provided to it by the Depositor, the Master Servicer or the Special Servicer or gathered by it in any investigation or other manner from time to time, provided that (A) while there exists any Event of Default, any such Additional Information shall only be furnished with the consent or at the request of the Depositor (except pursuant to clause (E) below), (B) the Trustee shall be entitled to indicate the source of all information furnished by it, and the Trustee may affix thereto any disclaimer it deems appropriate in its sole discretion (together with any warnings as to the confidential nature and/or the uses of such information as it may, in its sole discretion, determine appropriate), (C) the Trustee may notify Certificateholders and Certificate Owners of the availability of any such information in any manner as it, in its sole discretion, may determine, (D) the Trustee shall be entitled (but not obligated) to require payment from each recipient of a reasonable fee for, and its out-of-pocket expenses incurred in connection with, the collection, assembly, reproduction or delivery of any such Additional Information, (E) without the consent of the Depositor, the Trustee shall furnish Additional Information to a Rating Agency in any instance, and to the Certificateholders, Certificate Owners and/or the public-at-large (including, without limitation, the information delivered to the Trustee pursuant to Section 3.19(b)) if it determines that the furnishing of such information would not be in violation of applicable law or is required by applicable law and, in the case of any Additional Information requested by a Certificate Owner, such Certificate Owner has delivered an executed certificate in the form of Exhibit K hereto and (F) the Trustee shall be entitled to distribute or make available such Additional Information in accordance with such reasonable rules and procedures as it may deem necessary or appropriate (which may include the requirement that an agreement that provides such information shall be used solely for purposes of evaluating the investment characteristics or valuation of the Certificates be executed by the recipient, if and to the extent the Trustee deems the same to be necessary or appropriate). Nothing herein shall be construed to impose upon the Trustee any obligation or duty to furnish or distribute any Additional Information to any Person in any instance, and the Trustee shall neither have any liability for furnishing nor for refraining from furnishing Additional Information in any instance. The Trustee shall be entitled (but not required) to request and receive direction from the Depositor as to the manner of delivery of any such Additional Information, if and to the extent the Trustee deems necessary or advisable, and to require that any consent, direction or request given to it pursuant to this Section be made in writing. Upon the authorization of the Depositor, the Trustee shall make available to Bloomberg Financial Markets, L.P. ("Bloomberg") all the electronic reports delivered or made available pursuant to this Section 4.02(a) to the Certificateholders and Certificate Owners using a format and media mutually acceptable to the Trustee and Bloomberg.
(b) No later than the Business Day prior to each Distribution Date;, subject to the last paragraph of this subsection (b), the Master Servicer shall deliver or cause to be delivered to the Trustee (and, if the Master Servicer is not the Special Servicer, the Trustee shall deliver to the Special Servicer) in electronic form mutually acceptable to the Trustee and the Master Servicer the following reports or information: (1) a Delinquent Loan Status Report, (2) an REO Status Report, (3) a Historical Loan Modification Report, (4) a Historical Loss Report and (5) the Servicer Watch List.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates and the Class Q Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges Prepayment Premiums and (C) Excess Interest;; 210
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Advances Delinquency Advances, with respect to the Mortgage Pool and with respect to each Mortgage Loan as of the related Determination DateGroup, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(Ev) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool and of each Loan Group immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool and of each Loan Group which remains outstanding immediately after such Distribution Date;
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, Loans in the Mortgage Pool and with respect to each Loan Group at the close of business on the related Determination Date;
(Hviii) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(Iix) with respect to the Mortgage Pool, the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor borrower is subject or is expected to be subject to a bankruptcy proceeding;
(Jx) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Kxi) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number control number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date;
(Lxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number control number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof 211 included in the Available Funds Distribution Amount for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Mxiii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number control number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(Nxiv) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxvi) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxvii) the original Certificate Class Principal Amount Balance or Class Notional Amount as of the Closing Date and the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized LossesLosses and Additional Trust Fund Expenses;
(Rxviii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxix) the Principal Distribution Amount, the Loan Group 1 Principal Distribution Amount and the Loan Group 2 Principal Distribution Amount for such Distribution Date;
(Txx) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(Uxxi) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(xxii) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date; and
(xxiii) such additional information as contemplated by Exhibit G hereto. 212 In the case of information furnished pursuant to subclauses (i), (ii), (iii) and (xvii) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Realized Loss Distribution Date Statement may change over time. The Trustee shall make available each month to the general public the related Distribution Date Statement, the CMSA Bond Level File, the CMSA Collateral Summary File and the CMSA Loan Setup File via its internet website which is initially located at "www.ctslink.com/cmbs." In addition, the Trustee shall make availablx xxxx xxxxx, xx x xestricted basis, solely to each Privileged Person, (i) the CMSA Loan Periodic Update File delivered for each Distribution Date, the CMSA Property File, the CMSA Comparative Financial Status Report, the CMSA Reconciliation of Funds Report and the CMSA Financial File, (ii) the Servicer Reports, and (iii) as a convenience to such Privileged Persons (and not in furtherance of the distribution thereof under the securities laws), the Prospectus and this Agreement (which may also be made available to the general public). At the direction of the Depositor, the Trustee shall remove any or all of such restrictions and make any or all of such information available to any person. The Trustee makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor. In addition, the Trustee may disclaim responsibility for any information distributed by the Trustee for which it is not the original source. In connection with providing access to the Trustee's internet website, the Trustee may require registration and acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Trustee may provide such information through means other than (and in lieu of) its website; provided, that (i) GMACCM shall have consented to such alternative means and (ii) Certificateholders shall have received notice of such alternative means. The provisions in this Section shall not limit the Master Servicer's ability to make accessible certain information regarding the Mortgage Loans, each Serviced Companion Loan at a website maintained by the Master Servicer. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (i), (ii) and (iii) of the description of Distribution Date Statements above aggregated for such Distribution Date;calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the Internal Revenue Service, and shall provide from time to time such information and computations with respect to the entries on such forms as any Holder of the Residual Certificates may reasonably request.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator shall provide or make available a report, including reports in substantially the form attached hereto as Exhibit D (the “Distribution Date Statement”), setting forth, among other things, the following information:
(A) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Sequential Pay Certificates and applied to reduce the respective Certificate Principal Amount thereof;
(B) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of Certificates allocable to (A) Interest Distribution Amount, Amount and (B) Yield Maintenance Charges and (C) Excess InterestCharges;
(C) the amount of any distributions made on such Distribution Date to the Holders of the Class R Certificates;
(D) the aggregate amount of outstanding P&I Advances with respect to each Mortgage Loan as of the related Determination DateCombination, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(F) the aggregate Stated Principal Balance of the Mortgage Loans immediately before and after such Distribution Date with respect to each Loan Combination and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(G) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Loan Rate of the outstanding Mortgage Loans, at the close of business on the related Determination Date;
(H) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount or Notional Amount as of the Closing Date and the Certificate Principal Amount or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(U) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(V) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date;
(W) identification of any Realized Loss for material modification, extension or waiver of a Mortgage Loan;
(X) identification of any material breach of the representations and warranties given with respect to a Mortgage Loan by the applicable Mortgage Loan Seller;
(Y) the identity of the Trust Advisor;
(Z) the amount of the Certificate Administrator Fee and the Trustee Fee paid with respect to such Distribution Date;
(AA) an itemized listing of any Disclosable Special Servicer Fees received by the Special Servicer or any of its Affiliates during the related Collection Period;
(BB) the identity of the Controlling Class;
(CC) the identity of the Subordinate Class Representative; and
(DD) such additional information as contemplated by Exhibit D to this Agreement. In the case of information furnished pursuant to subclauses (A), (B), (C) and (Q) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Distribution Date Statement may change over time. On each Distribution Date, the Certificate Administrator shall make available via the Certificate Administrator’s Website to each Holder of a Class R Certificate a copy of the reports made available to the other Certificateholders on such Distribution Date and a statement setting forth the amounts, if any, actually distributed with respect to the Class R Certificates in respect of the related Trust REMIC on such Distribution Date. Such obligation of the Certificate Administrator shall be deemed to have been satisfied to the extent that it provided substantially comparable information pursuant to any requirements of the Code as from time to time in force. Absent manifest error, none of the Master Servicer or the Special Servicer shall be responsible for the accuracy or completeness of any information supplied to it by a Mortgagor or any Mortgage Loan Seller (including the information in the Prospectus Supplement) or any other third party that is included in any reports, statements, materials or information prepared or provided by the Master Servicer or the Special Servicer, as applicable. The Certificate Administrator shall make available each month via the Certificate Administrator’s Website, to any Privileged Person (or, in the case of item (vii) below, solely to Certificateholders and Beneficial Owners, and provided that the Prospectus Supplement, Distribution Date Statements, this Agreement, the Loan Purchase Agreements and the SEC EXXXX filings referred to below (collectively, the “Public Documents”) will be available to the general public), the following items:
(i) the following “deal documents”:
(A) the Prospectus and the Prospectus Supplement; and
(B) this Agreement, each sub-servicing agreement delivered to the Certificate Administrator since the Closing Date (if any), the Loan Purchase Agreements and any amendments and exhibits hereto or thereto;
(ii) the following “SEC EXXXX filings”:
(A) any reports on Forms 10-D, 10-K and 8-K that have been filed by the Trustee with respect to the Trust through the EXXXX system;
(iii) the following “periodic reports”:
(A) the Distribution Date Statements;
(B) the supplemental reports and the CREFC data files identified as such in the definition of “CREFC Investor Reporting Package (IRP)”, to the extent it has received or prepared such report or file; and
(C) all Trust Advisor Annual Reports;
(iv) the following “additional documents”:
(A) the summary of any Final Asset Status Report delivered to the Certificate Administrator in electronic format pursuant to Section 3.21 of this Agreement; and
(B) any other Third Party Reports (or updates thereto) delivered to the Certificate Administrator in electronic format;
(v) the following “special notices”:
(A) all Special Notices;
(B) notice of any waiver, modification or amendment of any term of any Mortgage Loan;
(C) notice of final payment on the Certificates;
(D) all notices of the occurrence of any Events of Default received by the Certificate Administrator;
(E) notice of termination or resignation of the Master Servicer, the Special Servicer, the Trust Advisor or the Trustee (and appointments of successors to the Master Servicer, the Special Servicer, the Trust Advisor or the Trustee);
(F) any and all officer’s certificates and other evidence delivered to or by the Certificate Administrator to support its or the Master Servicer’s, the Trustee’s or the Special Servicer’s, as the case may be, determination that any Advance was (or, if made, would be) a Nonrecoverable Advance;
(G) any notice of the termination of the Trust;
(H) any notice of the occurrence and continuance of a Collective Consultation Period;
(I) any notice of the occurrence and continuance of a Senior Consultation Period;
(J) the annual assessments as to compliance (in the case of the Master Servicer and the Special Servicer) and the officer’s certificates delivered by the Master Servicer and the Special Servicer to the Certificate Administrator since the Closing Date pursuant to Section 10.09 of this Agreement; and
(K) the annual independent public accountants’ servicing report caused to be delivered by the Master Servicer and the Special Servicer to the Certificate Administrator since the Closing Date pursuant to Section 10.10 of this Agreement;
(vi) the Investor Q&A Forum; and
(vii) solely to Certificateholders and Beneficial Owners, the Investor Registry. The Certificate Administrator makes no representations or warranties as to the accuracy or completeness of information provided pursuant to this Section and assumes no responsibility therefor. In addition, the Certificate Administrator disclaims responsibility for any information distributed by the Certificate Administrator for which it is not the original source. In connection with providing access to the Certificate Administrator’s internet website, the Certificate Administrator may require registration and acceptance of a disclaimer and may require a recipient of any of the information set forth above (other than the Public Documents) to execute a confidentiality agreement (which may be in the form of a web page “click-through”). The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Certificate Administrator may provide such information through means other than (and in lieu of) the Certificate Administrator’s Website; provided that (i) the Depositor shall have consented to such alternative means and (ii) Certificateholders and the Non-Trust Mortgage Loan Holder shall have received notice of such alternative means (which notice may be given via the Certificate Administrator’s Website). Any Person that is a Mortgagor, a Manager of a Mortgaged Property, an Affiliate of the foregoing, or an agent of any Mortgagor shall be entitled to access only the Prospectus Supplement, Distribution Date Statements, this Agreement, the Loan Purchase Agreements and the SEC EXXXX filings on the Trustee’s Website which are being made available to the general public. The provisions in this Section shall not limit the Master Servicer’s ability to make accessible certain information regarding the Mortgage Loans at a website maintained by the Master Servicer. Within a reasonable period of time after the end of each calendar year, the Certificate Administrator shall furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (A), (B) and (C) of the description of Distribution Date Statements above aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Certificate Administrator determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Certificate Administrator shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Certificate Administrator pursuant to any requirements of the Code as from time to time are in force. The Certificate Administrator shall make available, only to Privileged Persons, the Investor Q&A Forum. The “Investor Q&A Forum” shall be a service available on the Certificate Administrator’s Website, where Certificateholders and Beneficial Owners may (i)(a) submit questions to the Certificate Administrator relating to the Distribution Date Statement, (b) submit questions to the Master Servicer or the Special Servicer, as applicable, relating to the servicing reports prepared by that party and being made available pursuant to this
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Barclays Commercial Mortgage Securities LLC)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of 112 Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges Prepayment Premiums and (C) Excess Interest;
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Delinquency Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as end of the related Determination Dateprior calendar month;
(Ev) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool which remains outstanding immediately after such Distribution Date;
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, Loans in the Mortgage Pool at the close of business on the related Determination Date;
(Hviii) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(Jix) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
Property; (Kx) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number loan number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date;
(L) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(N) the Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(O) any unpaid Interest Distribution Amount in respect of each Class of Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(P) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Q) the original Certificate Principal Amount or Notional Amount as of the Closing Date and the Certificate Principal Amount or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized Losses;
(R) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(T) the aggregate amount of Principal Prepayments made during the related Prepayment Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Period, and any Realized Loss for such Distribution Date;
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based Subject to Section 8.02(v), based on loan-level information received from the Master Servicer and any other applicable PersonsServicer, on each Distribution Date, the Certificate Administrator Trustee shall provide or make available as provided herein to all of the Holders of each Class of Certificates (and, in the case of a reportClass of Book-Entry Certificates, to each Person that provides the Trustee with an Investor Certification), to the parties hereto and to the Rating Agencies written reports, including reports in substantially the form attached hereto as Exhibit D G (the “"Distribution Date Statement”"), setting forth, among other things, the following information:
(Ai) the amount of distributions, if any, made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Class Principal Amount Balances thereof;
(Bii) the amount of distributions, if any, made on such Distribution Date to the Holders of each Class of REMIC III Regular Certificates allocable to (A) Interest Distribution AmountDistributable Certificate Interest, (B) Yield Maintenance Charges Prepayment Premiums and (C) Excess Interest;
(Ciii) the amount of any distributions made on such Distribution Date to the Holders of the each Class R of Residual Certificates;
(Div) the aggregate amount of outstanding P&I Delinquency Advances with respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination Date;
(Ev) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fvi) the aggregate Stated Principal Balance of the Mortgage Loans Pool immediately before and after such Distribution Date and the percentage of the Cut-Off off Date Principal Balance of the Mortgage Loans Pool which remains outstanding immediately after such Distribution Date;
(Gvii) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, Loans in the Mortgage Pool at the close of business on the related Determination Date;
(Hviii) as of the Determination Date, the number and aggregate unpaid principal balance of Mortgage Loans in the Mortgage Pool (A) delinquent one month, (B) delinquent two months, (C) delinquent three or more months, (D) that are Specially Serviced Mortgage Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(Iix) with respect to the Mortgage Pool, the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor borrower is subject or is expected to be subject to a bankruptcy proceeding;
(Jx) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Collection Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Kxi) as to any Mortgage Loan repurchased, substituted for repurchased or otherwise liquidated or disposed of during the related Prepayment Collection Period, the Loan Number loan number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date;
(Lxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day of the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(Mxiii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Collection Period, the Loan Number loan number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Collection Period, the portion thereof included in the Available Funds Distribution Amount for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date;
(Nxiv) the Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Oxv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxvi) the Pass-Through Rate for each Class of REMIC III Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxvii) the original Certificate Class Principal Amount Balance or Class Notional Amount as of the Closing Date and the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each Class of REMIC III Regular Certificates and Class PEZ Regular Interest immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Class Principal Amount Balance or Class Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest due to Realized LossesLosses and Additional Trust Fund Expenses;
(Rxviii) the Certificate Factor for each Class of REMIC III Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(Sxix) the Principal Distribution Amount for such Distribution Date;
(Txx) the aggregate amount of Principal Prepayments made during the related Prepayment Collection Period, and the aggregate amount of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; ;
(Uxxi) the aggregate amount of losses on Mortgage Loans Realized Losses and Additional Trust Fund Expenses, if any, incurred with respect to the Trust Fund during the related Prepayment Collection Period;
(xxii) any Appraisal Reduction Amounts on a loan-by-loan basis, and the total Appraisal Reduction Amounts, as of the related Determination Date; and
(xxiii) such additional information as contemplated by Exhibit G hereto. In the case of information furnished pursuant to subclauses (i), (ii), (iii) and (xvii) above, the amounts shall be expressed as a dollar amount in the aggregate for all Certificates of each applicable Class and per single Certificate of a specified minimum denomination. The form of any Realized Loss Distribution Date Statement may change over time. The Trustee shall make available to Certificateholders and other interested parties certain information via electronic means as may be agreed upon by the Depositor and the Trustee, including the information and reports described in clauses, (1) through (8) of clause (b) below and the CMSA Periodic Loan File delivered for each Distribution Date. In addition, the Trustee shall make available to each Certificateholder, to each Person that provides the Trustee with an Investor Certification, to each party hereto, to each Underwriter and to the Rating Agencies, a report (based on information received from the Master Servicer and in a format mutually acceptable to the Trustee and the Master Servicer) containing, information regarding the Mortgage Pool as of the close of business on the related Determination Date, which report shall contain substantially the categories of information regarding the Mortgage Loans set forth in Exhibit G hereto (calculated, where applicable, on the basis of the most recent relevant information provided by the Mortgagors to the Master Servicer or the Special Servicer and by the Master Servicer or the Special Servicer, as the case may be, to the Trustee) and such information shall be presented in a tabular format substantially similar to the formats utilized in Exhibit G hereto. On each Distribution Date the Trustee shall make (x) the monthly Distribution Date Statement available and (y) certain information regarding the Mortgage Loans available at the website maintained by LaSalle Bank National Association at xxx.xxxxxxxx.xxx. Such information shall be accessible only with the use of a password provided by the Trustee to each Person that provides the Trustee with an Investor Certification; provided, however, that the Rating Agencies and the other parties to this Agreement shall not be required to provide such certification; and provided, further, that the Depositor may instruct the Trustee at any time not to require the use of a password or the receipt of a certification. The Trustee makes no representations or warranties as to the accuracy or completeness of such information and assumes no responsibility therefor. In addition, the Trustee may disclaim responsibility for any information distributed by the Trustee for which it is not the original source. In connection with providing access to the Trustee's internet website, the Trustee may require registration and acceptance of a disclaimer. The Trustee shall not be liable for the dissemination of information in accordance with this Agreement. The Trustee may provide such information through means other than (and in lieu of) its website provided that (i) GMACCM shall have consented to such alternative means and (ii) Certificateholders shall have received notice of such alternative means. The provisions in this Section shall not limit the Master Servicer's ability to make accessible certain information regarding the Mortgage Loans at a website maintained by the Master Servicer. Within a reasonable period of time after the end of each calendar year, the Trustee shall furnish to each Person who at any time during the calendar year was a Holder of a Certificate a statement containing the information as to the applicable Class set forth in clauses (i), (ii) and (iii) of the description of Distribution Date Statements above aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder, together with such other information as the Trustee determines to be necessary to enable Certificateholders to prepare their tax returns for such calendar year. Such obligation of the Trustee shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Trustee pursuant to any requirements of the Code as from time to time are in force. Upon filing with the Internal Revenue Service, the Trustee shall furnish to the Holders of the Residual Certificates the Form 1066 and shall furnish their respective Schedules Q thereto at the times required by the Code or the Internal Revenue Service, and shall provide from time to time such information and computations with respect to the entries on such forms as any Holder of the Residual Certificates may reasonably request. The specification of information to be furnished by the Trustee to the Certificateholders in this Section 4.02 (and any other terms of this Agreement requiring or calling for delivery or reporting of information by the Trustee to Certificateholders and Certificate Owners) shall not limit the Trustee in furnishing, and the Trustee is hereby authorized to furnish, to Certificateholders, Certificate Owners and/or to the public any other information (such other information, collectively, "Additional Information") with respect to the Mortgage Loans, the Mortgaged Properties or the Trust Fund as may be provided to it by the Depositor, the Master Servicer or the Special Servicer or gathered by it in any investigation or other manner from time to time, provided that (A) while there exists any Event of Default, any such Additional Information shall only be furnished with the consent or at the request of the Depositor (except pursuant to clause (E) below), (B) the Trustee shall be entitled to indicate the source of all information furnished by it, and the Trustee may affix thereto any disclaimer it deems appropriate in its sole discretion (together with any warnings as to the confidential nature and/or the uses of such information as it may, in its sole discretion, determine appropriate), (C) the 135 Trustee may notify Certificateholders and Certificate Owners of the availability of any such information in any manner as it, in its sole discretion, may determine, (D) the Trustee shall be entitled (but not obligated) to require payment from each recipient of a reasonable fee for, and its out-of-pocket expenses incurred in connection with, the collection, assembly, reproduction or delivery of any such Additional Information, (E) without the consent of the Depositor, the Trustee may, in its sole discretion, furnish Additional Information to a Rating Agency in any instance, and to the Certificateholders, Certificate Owners and/or the public-at-large if it determines that the furnishing of such information would assist in the evaluation of the investment characteristics or valuation of the Certificates or would be in the best interests of the Certificateholders or is required by applicable law and, in the case of any Additional Information requested by a Certificate Owner or Certificateholder, such Certificate Owner or Certificateholder has delivered an executed certificate in the form of Exhibit K hereto and (F) the Trustee shall be entitled to distribute or make available such Additional Information in accordance with such reasonable rules and procedures as it may deem necessary or appropriate (which may include the requirement that an agreement that provides such information shall be used solely for purposes of evaluating the investment characteristics or valuation of the Certificates be executed by the recipient, if and to the extent the Trustee deems the same to be necessary or appropriate). Nothing herein shall be construed to impose upon the Trustee any obligation or duty to furnish or distribute any Additional Information to any Person in any instance, and the Trustee shall neither have any liability for furnishing nor for refraining from furnishing Additional Information in any instance. The Trustee shall be entitled (but not required) to request and receive direction from the Depositor as to the manner of delivery of any such Additional Information, if and to the extent the Trustee deems necessary or advisable, and to require that any consent, direction or request given to it pursuant to this Section be made in writing. Upon the authorization of the Depositor, the Trustee shall make available to Bloomberg Financial Markets, L.P. ("Bloomberg") or such other vendor chosen by the Depositor, all the electronic reports delivered or made available pursuant to this Section 4.02(a) to the Certificateholders and Certificate Owners using a format and media mutually acceptable to the Trustee and Bloomberg.
(b) No later than the Business Day prior to each Distribution Date;, subject to the last paragraph of this subsection (b), the Master Servicer shall deliver or cause to be delivered to the Trustee (and, if the Master Servicer is not the Special Servicer, the Trustee shall deliver to the Special Servicer) in electronic form mutually acceptable to the Trustee and the Master Servicer the following reports or information: (1) a Delinquent Loan Status Report, (2) an REO Status Report, (3) a Historical Loan Modification Report, (4) a Historical Loss Report, (5) the Servicer Watch List, (6) the CMSA Financial File, (7) the CMSA Property File Report and (8) the CMSA Comparative Financial Status Report.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gmac Commercial Mortgage Securities Inc)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on On each Distribution Date, the Certificate Administrator Trustee shall provide or make available available, either in electronic format or by first-class mail to each Holder (and, if it shall have certified to the Trustee as to its Ownership Interest in a reportClass of Book-Entry Certificates, including reports in substantially each Certificate Owner) of the form attached hereto as Exhibit D Regular Certificates and to the Rating Agencies a statement (the “a "Distribution Date Statement”"), setting forthsubstantially in the form contemplated on pages C-1 through C-17 of the Prospectus Supplement, among other things, as to the following information:
(A) the amount of distributions, if any, distributions made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount thereof;setting forth:
(Bi) the amount of distributionsthe distribution, if any, made on such Distribution Date to the Holders of each Class of Regular Certificates allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interestin reduction of the Class Principal Balance thereof;
(Cii) the amount of any distributions made the distribution, if any, on such Distribution Date to the Holders of each Class of Regular Certificates allocable to Distributable Certificate Interest and the amount of the distribution, if any, on such Distribution Date to the Holders of each Class R Certificatesof Regular Certificates allocable to Prepayment Premiums;
(Diii) the Available Distribution Amount for such Distribution Date;
(iv) the aggregate amount of outstanding P&I Advances with made in respect to each Mortgage Loan as of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related Determination immediately preceding Distribution Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fv) the aggregate Stated Principal Balance of the Mortgage Loans Pool outstanding immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(Gvi) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at Pool as of the end of the Collection Period for the immediately preceding Distribution Date;
(vii) as of the close of business on the related Determination Date;
(H) as last day of the Determination Datemost recently ended calendar month, the number and number, aggregate unpaid principal balance and specific identification (by loan number) of Mortgage Loans (A) delinquent one month30-59 days, (B) delinquent two months60-89 days, (C) delinquent three 90 or more monthsdays, and (D) that are Specially Serviced Loans but are not delinquent or (E) as to which foreclosure proceedings have been commenced;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(Lviii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day end of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(M) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, and the amount of Liquidation Proceeds and other amounts, if any, received in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance of the Excess Liquidation Proceeds Reserve Account for such Distribution Date, the principal balance of the Mortgage Loan as of the date such Mortgage Loan became delinquent;
(Nix) the Accrued Certificate Interest Distribution Amount and Distributable Certificate Interest in respect of each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Ox) any unpaid the aggregate amount of Distributable Certificate Interest Distribution Amount payable in respect of each Class of Regular Certificates and on such Distribution Date, including, without limitation, any Distributable Certificate Interest remaining unpaid from prior Distribution Dates;
(xi) any unpaid Distributable Certificate Interest in respect of each Class PEZ of REMIC II Regular Interest Certificates after giving effect to the distributions made on such Distribution Date;
(Pxii) the Pass-Through Rate for each Class of Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxiii) the original Certificate Principal Distribution Amount or Notional Amount as for such Distribution Date, separately identifying the respective components of such amount;
(xiv) the Closing Date aggregate of all Realized Losses incurred during the related Collection Period and all Additional Trust Fund Expenses incurred during the related Collection Period;
(xv) the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of Regular Certificates and Class PEZ Regular Interest outstanding immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest therein due to the allocation of Realized LossesLosses and Additional Trust Fund Expenses on such Distribution Date;
(Rxvi) the Certificate Factor for each Class of Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(Txvii) the aggregate amount of Principal Prepayments made servicing fees paid to the Master Servicer and the Special Servicer, collectively and separately, during the related Prepayment Collection Period, and the aggregate amount ; and
(xviii) a brief description of any Prepayment Interest Excesses received and Prepayment Interest Shortfalls incurred in connection therewith; (U) material, waiver, modification or amendment of any Mortgage Loan entered into by the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred with respect Master Servicer or Special Servicer pursuant to the Trust Fund Section 3.20 during the related Prepayment Collection Period, and any Realized Loss for such Distribution Date;.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Nationslink Funding Corp Comm Mort Pass THR Cert Ser 1998-2)
Statements to Certificateholders; Certain Reports by the Master Servicer and the Special Servicer. (a) Based on loan-level information received from the Master Servicer and any other applicable Persons, on On each Distribution Date, the Certificate Administrator Trustee shall provide or make available available, either in electronic format or by first class mail to each Holder (and, if it shall have certified to the Trustee as to its Ownership Interest in a reportClass of Book Entry Certificates, including reports in substantially each Certificate Owner) of the form attached hereto as Exhibit D Certificates and to the Rating Agencies a statement (the “a "Distribution Date Statement”"), setting forthsubstantially in the form contemplated on pages C-1 through C-17 of the Prospectus Supplement, among other things, as to the following information:
(A) the amount of distributions, if any, distributions made on such Distribution Date to the holders of each Class of Principal Balance Certificates and applied to reduce the respective Certificate Principal Amount thereof;setting forth:
(Bi) the amount of distributionsthe distribution, if any, made on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates allocable to (A) Interest Distribution Amount, (B) Yield Maintenance Charges and (C) Excess Interestin reduction of the Class Principal Balance thereof;
(Cii) the amount of any distributions made the distribution, if any, on such Distribution Date to the Holders of each Class of REMIC II Regular Certificates allocable to Distributable Certificate Interest and the amount of the distribution, if any, on such Distribution Date to the Holders of each Class R Certificatesof REMIC II Regular Certificates allocable to Prepayment Premiums;
(Diii) [Reserved];
(iv) the Available Distribution Amount for such Distribution Date;
(v) the aggregate amount of outstanding P&I Advances (both as to those within any applicable grace period and those that are beyond any applicable grace period, together with the aggregate amount of delinquencies) and other Servicing Advances made in respect of the immediately preceding Distribution Date;
(vi) P&I Advances outstanding as of the Master Servicer Remittance Date;
(vii) the aggregate amount of P&I Advances made with respect to each the Mortgage Loan as Pool in respect of the related Determination Date, and the total outstanding other or miscellaneous advances (excluding P&I Advances and tax and insurance advances) with respect to each Mortgage Loan as of the related immediately preceding Determination Date;
(E) the aggregate amount of Servicing Fees retained by or paid to the Master Servicer and Special Servicing Compensation retained by or paid to the Special Servicer in respect of the related Collection Period, Prepayment Period or Interest Accrual Period, as applicable;
(Fviii) the aggregate Stated Principal Balance of the Mortgage Loans Pool outstanding immediately before and after such Distribution Date and the percentage of the Cut-Off Date Principal Balance of the Mortgage Loans which remains outstanding immediately after such Distribution Date;
(Gix) the number, aggregate principal balance, weighted average remaining term to maturity and weighted average Mortgage Rate of the outstanding Mortgage Loans, at Pool as of the close end of business on the related Collection Period for the immediately preceding Determination Date;
(Hx) as of the Determination Date for the related Distribution Date, the number and number, aggregate unpaid principal balance and specific identification (by loan number) of Mortgage Loans (A) delinquent one month30-59 days, (B) delinquent two months60-89 days, (C) delinquent three 90 or more monthsdays, (D) that are Specially Serviced Loans current but are specially serviced or in foreclosure but not delinquent or a REO Property and (E) as identification of Mortgage Loans the Mortgagor for which is subject to which foreclosure proceedings have been commencedbankruptcy;
(I) the aggregate Stated Principal Balance of Mortgage Loans as to which the related Mortgagor is subject or is expected to be subject to a bankruptcy proceeding;
(J) with respect to any Mortgage Loan as to which the related Mortgaged Property became an REO Property (including with respect to the Outside Serviced Trust Loans) during the related Prepayment Period, the Stated Principal Balance and unpaid principal balance of such Mortgage Loan as of the date such Mortgaged Property became an REO Property and the most recently determined Appraised Value and date upon which the Appraisal was performed;
(K) as to any Mortgage Loan repurchased, substituted for or otherwise liquidated or disposed of during the related Prepayment Period, the Loan Number thereof and the amount of any Liquidation Proceeds and/or other amounts, if any, received thereon during the related Prepayment Period and the portion thereof included in the Available Funds for such Distribution Date;
(Lxi) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) included in the Trust Fund as of the close of business on the last day end of the related Prepayment Period, the Loan Number of the related Mortgage Loan, the book value of such REO Property and the amount of any income collected with respect to such REO Property (net of related expenses) and other amounts, if any, received on such REO Property during the related Prepayment Collection Period and the portion thereof included in the Available Funds for such Distribution Date and Date, the most recently determined Appraised Value and principal balance of the Mortgage Loan as of the date upon which the Appraisal was performedsuch Mortgage Loan became delinquent;
(Mxii) with respect to any REO Property (including with respect to the Outside Serviced Trust Loans) sold or otherwise disposed of during the related Prepayment Period, the Loan Number of the related Mortgage Loan, Accrued Certificate Interest and the amount of Liquidation Proceeds and other amounts, if any, received Distributable Certificate Interest in respect of such REO Property during the related Prepayment Period, the portion thereof included in the Available Funds for such Distribution Date and the balance each Class of the Excess Liquidation Proceeds Reserve Account REMIC II Regular Certificates for such Distribution Date;
(Nxiii) the aggregate amount of Distributable Certificate Interest Distribution Amount payable in respect of each Class of REMIC II Regular Certificates and Class PEZ Regular Interest for on such Distribution Date, including, without limitation, any Distributable Certificate Interest remaining unpaid from prior Distribution Dates;
(Oxiv) any unpaid Distributable Certificate Interest Distribution Amount in respect of each Class of REMIC II Regular Certificates and Class PEZ Regular Interest after giving effect to the distributions made on such Distribution Date;
(Pxv) the Pass-Through Rate for each Class of REMIC II Regular Certificates and Class PEZ Regular Interest for such Distribution Date;
(Qxvi) the original Certificate Principal Distribution Amount or Notional Amount as with respect to the Mortgage Pool for such Distribution Date, separately identifying the amounts distributable to each Class of REMIC II Regular Certificates;
(xvii) the Closing Date aggregate of all Realized Losses incurred during the related Collection Period and all Additional Trust Fund Expenses incurred during the related Collection Period, and an itemization of all such Additional Trust Fund Expenses;
(xviii) the Certificate Principal Amount Balance or Notional Amount, as the case may be, of each Class of REMIC II Regular Certificates and Class PEZ Regular Interest outstanding immediately before and immediately after such Distribution Date, separately identifying any reduction in the Certificate Principal Amount or Notional Amount, as the case may be, of each such Class of Regular Certificates and Class PEZ Regular Interest therein due to the allocation of Realized LossesLosses and Additional Trust Fund Expenses on such Distribution Date;
(Rxix) the Certificate Factor for each Class of REMIC II Regular Certificates or Class PEZ Regular Interest immediately following such Distribution Date;
(S) the Principal Distribution Amount for such Distribution Date;
(Txx) the aggregate amount of Principal Prepayments made servicing fees paid to the Master Servicer and the Special Servicer, collectively and separately, during the related Prepayment Collection Period, and the aggregate amount ; and
(xxi) a brief description of any Prepayment Interest Excesses received material waiver, modification or amendment of any Mortgage Loan entered into by the Master Servicer or Special Servicer pursuant to Section 3.20 during the related Collection Period;
(xxii) current and Prepayment Interest Shortfalls incurred in connection therewith; (U) the aggregate amount of losses on Mortgage Loans and Additional Trust Fund Expenses, if any, incurred cumulative outstanding Advances with respect to the Trust Fund during Mortgage Pool;
(xxiii) current prepayments and curtailments;
(xxiv) the number and aggregate principal balance of Mortgage Loans as to which foreclosure proceedings have been commenced as to the related Prepayment Period, and any Realized Loss Mortgaged Property;
(xxv) the ratings from all Rating Agencies for such Distribution Dateall classes of Certificates;
(xxvi) the amounts held in the Excess Liquidation Proceeds Account; and
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Comm Mort Inc Pass Throu Certs Series 2004 2)