Common use of The Risk Retention Consultation Party Clause in Contracts

The Risk Retention Consultation Party. (a) The Special Servicer shall consult, solely on a non-binding basis (and consider alternative actions recommended by such party) with each Risk Retention Consultation Party with respect to any Major Decision in the same manner as set forth in Section 9.3 with respect to the consultation rights of the Directing Certificateholder after the occurrence and during the continuance of a Control Event and prior to the occurrence and continuance of a Consultation Termination Event. In the event the Special Servicer receives no response from the Risk Retention Consultation Party within ten (10) days following the later of (i) the Special Servicer’s written request for input on any requested consultation and (ii) delivery of all such additional information reasonably requested by the Risk Retention Consultation Party related to the subject matter of such consultation, the Special Servicer shall not be obligated to consult with such Risk Retention Consultation Party solely with respect to the specific matter.

Appears in 7 contracts

Samples: Trust and Servicing Agreement (Benchmark 2022-B35 Mortgage Trust), Trust and Servicing Agreement (Benchmark 2022-B34 Mortgage Trust), Trust and Servicing Agreement (Morgan Stanley Capital I Trust 2022-L8)

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The Risk Retention Consultation Party. (a) The Special Servicer shall consult, solely on a non-binding basis (and consider alternative actions recommended by such party) ), with each Risk Retention Consultation Party with respect to any Major Decision in the same manner as set forth in Section 9.3 with respect to the consultation rights of the Directing Certificateholder after the occurrence and Holder during the continuance of a Control Event and prior to the occurrence and continuance of a any Subordinate Consultation Termination EventPeriod. In the event the Special Servicer receives no response from the a Risk Retention Consultation Party within ten (10) 10 days following the later of (i) the Special Servicer’s written request for input on any requested consultation and (ii) delivery of all such additional information reasonably requested by the such Risk Retention Consultation Party related to the subject matter of such consultation, the Special Servicer shall not be obligated to consult with such Risk Retention Consultation Party solely with respect to the specific matter.

Appears in 2 contracts

Samples: Trust and Servicing Agreement (Bank 2020-Bnk25), Trust and Servicing Agreement (Bank 2019-Bnk23)

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The Risk Retention Consultation Party. (a) The Special Servicer shall consult, solely on a non-binding basis (and consider alternative actions recommended by such party) ), with each the Risk Retention Consultation Party with respect to any Major Decision in the same manner as set forth in Section 9.3 with respect to the consultation rights of the Directing Certificateholder after the occurrence and Holder during the continuance of a Control Event and prior to the occurrence and continuance of a any Subordinate Consultation Termination EventPeriod. In the event the Special Servicer receives no response from the Risk Retention Consultation Party within ten (10) 10 days following the later of (i) the Special Servicer’s written request for input on any requested consultation and (ii) delivery of all such additional information reasonably requested by the such Risk Retention Consultation Party related to the subject matter of such consultation, the Special Servicer shall not be obligated to consult with such Risk Retention Consultation Party solely with respect to the specific matter.

Appears in 2 contracts

Samples: Trust and Servicing Agreement (CSAIL 2018-C14 Commercial Mortgage Trust), Trust and Servicing Agreement (UBS Commercial Mortgage Trust 2018-C12)

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