Common use of THE SPECIAL SERVICER Clause in Contracts

THE SPECIAL SERVICER. The Special Servicer, as independent contract servicer, shall, notwithstanding any other provisions hereof, service and administer the Specially Serviced Mortgage Loans and REO Property on behalf of and in the best interests of and for the benefit of the Certificateholders in accordance with this Agreement and Accepted Special Servicing Practices. In the event that a Mortgage Loan becomes a Specially Serviced Mortgage Loan, subject to the provisions contained in this Article VI, the Master Servicer shall continue to collect all Monthly Payments called for under the terms and provisions of the Mortgage Loan in accordance with Section 4.02, except as otherwise directed by the Special Servicer in writing, but the Special Servicer shall make any Advances pursuant to Section 6.10.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Morgan J P Commercial Mortgage Finance Corp), Pooling and Servicing Agreement (Morgan J P Commercial Mortgage Finance Corp)

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THE SPECIAL SERVICER. The Special Servicer, as independent contract servicer, shall, notwithstanding any other provisions hereof, shall service and administer the Specially Serviced Mortgage Loans and REO Property on behalf of and in the best interests of and for the benefit of the Certificateholders Bondholders in accordance with this Agreement and Accepted Special Servicing Practices. In the event that a Mortgage Loan becomes a Specially Serviced Mortgage Loan, subject to the provisions contained in this Article VI, the Master Servicer shall continue to collect all Monthly Payments called for under the terms and provisions of the Mortgage Loan in accordance with Section 4.02, except as otherwise directed by the Special Servicer and agreed to by the Servicer in writing, but the Special Servicer shall make any Advances pursuant to Section 6.10.

Appears in 1 contract

Samples: Servicing Agreement (Imperial Credit Commercial Mortgage Acceptance Corp)

THE SPECIAL SERVICER. The Special Servicer, as independent contract servicer, shall, notwithstanding any other provisions hereof, service and administer the Specially Serviced Mortgage Loans and REO Property on behalf of and in the best interests of and for the benefit of the Certificateholders in accordance with this Agreement and Accepted Special Servicing Practices. In the event that a Mortgage Loan becomes a Specially Serviced Mortgage Loan, subject to the provisions contained in this Article VI, the Master Servicer shall continue to collect all Monthly Payments called for under the terms and provisions of the Mortgage Loan in accordance with Section 4.02, except as otherwise directed by the Special Servicer in writing, but the Special Servicer shall make any Advances pursuant to Section 6.10.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Jp Morgan Chase Commercial Mortgage Securities Corp)

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THE SPECIAL SERVICER. The Special Servicer, as an independent contract servicer, shall, notwithstanding any other provisions hereof, shall service and administer the Specially Serviced Mortgage Loans and REO Property Properties on behalf of and in the best interests of and for the benefit of the Certificateholders Bondholders in accordance with this Servicing Agreement and Accepted Special Servicing Practices. In the event that a Mortgage Loan becomes a Specially Serviced Mortgage Loan, subject to the provisions contained in this Article VI, the Master Servicer shall continue to collect all Monthly Payments called for under the terms and provisions of the Mortgage Loan in accordance with Section 4.02, except as otherwise directed by the Special Servicer and agreed to by the Master Servicer in writing, but the Special Servicer shall make any Advances pursuant to Section 6.10.

Appears in 1 contract

Samples: Servicing Agreement (Collateralized Mortgage Bonds Series 1999 1)

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