to the Master Servicer Clause Samples
The 'to the Master Servicer' clause designates that certain actions, notices, or payments must be directed specifically to the Master Servicer within a contractual arrangement, such as a mortgage-backed securities transaction. In practice, this means that parties involved—like borrowers or sub-servicers—are required to send reports, remittances, or communications directly to the Master Servicer, rather than to other entities in the structure. This clause ensures that the Master Servicer receives all necessary information and resources to perform its oversight and administrative duties, thereby centralizing responsibility and reducing the risk of miscommunication or missed obligations.
to the Master Servicer. The Special Servicer shall notify the Master Servicer of each such amount received on or before the date required for the making of such deposit or transfer, as the case may be, indicating the Mortgage Loan or Specially Serviced Mortgage Loan to which the amount is to be applied and the type of payment made by or on behalf of the related Mortgagor.
to the Master Servicer. The Master Servicer shall have the right to offset any amounts due hereunder from the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder or the Note A-4 Holder, as applicable, with respect to the Mortgage Loan against any future payments due to the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder or the Note A-4 Holder, as applicable, under the Mortgage Loan, provided, that the obligations of the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder and the Note A-4 Holder under this Section 5 are separate and distinct obligations from one another and in no event shall any Servicer enforce the obligations of any Holder against any other Holder. The obligations of the Note A-1 Holder, the Note A-2 Holder, the Note A-3 Holder and the Note A-4 Holder under this Section 5 constitute absolute, unconditional and continuing obligations and each Servicer shall be deemed a third-party beneficiary of these provisions.
to the Master Servicer. Upon termination of the Master Servicer’s responsibilities and duties under this Agreement, the Trustee shall appoint or may petition any court of competent jurisdiction for the appointment of a successor, which shall succeed to all rights and assume all of the responsibilities, duties and liabilities of the Master Servicer under this Agreement prior to the termination of the Master Servicer. Any successor shall be a ▇▇▇▇▇▇ ▇▇▇ and Freddie Mac approved servicer in good standing and acceptable to the Depositor and the Rating Agencies. In connection with such appointment and assumption, the Trustee may make such arrangements for the compensation of such successor out of payments on Mortgage Loans as it and such successor shall agree; provided, however, that in no event shall the master servicer fee paid to such successor master servicer exceed that paid to the Master Servicer hereunder. In the event that the Master Servicer’s duties, responsibilities and liabilities under this Agreement are terminated, the Master Servicer shall continue to discharge its duties and responsibilities hereunder until the effective date of such termination with the same degree of diligence and prudence which it is obligated to exercise under this Agreement and shall take no action whatsoever that might impair or prejudice the rights of its successor. The termination of the Master Servicer shall not become effective until a successor shall be appointed pursuant hereto and shall in no event (i) relieve the Master Servicer of responsibility for the representations and warranties made pursuant to Section 9.03(a) hereof and the remedies available to the Trustee under Section 9.03(b) hereof, it being understood and agreed that the provisions of Section 9.03 hereof shall be applicable to the Master Servicer notwithstanding any such sale, assignment, resignation or termination of the Master Servicer or the termination of this Agreement; or (ii) affect the right of the Master Servicer to receive payment and/or reimbursement of any amounts accruing to it hereunder prior to the date of termination (or during any transition period in which the Master Servicer continues to perform its duties hereunder prior to the date the successor master servicer fully assumes its duties). If no successor Master Servicer has accepted its appointment within ninety (90) days of the time the Trustee receives the resignation of the Master Servicer, the Trustee shall be the successor Master Servicer in all respe...
to the Master Servicer. The Master Servicer shall be entitled to withhold from amounts otherwise required to be remitted to the Master Collection Account with respect to a Collection Period an amount in respect of funds deposited with respect to prior Collection Periods in the Master Collection Account but later determined by the Master Servicer to have resulted from mistaken deposits or postings or checks returned for insufficient funds, provided, that, such withholding may be made only following certification by the Master Servicer of such amounts and the provision of such information to the Trustee or the Trust Collateral Agent, as the case may be, as may be necessary in the opinion of the Trust Collateral Agent, as the case may be, to verify the accuracy of such certification.