Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or Special Servicer, as the case may be; provided that in the case of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account. (b) From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being released upon termination of the Trust. (c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability. (d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 18 contracts
Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C22), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C21), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C21)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-or Serviced Mortgage Loan), Loan Combination or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee Trustee, the Certificate Administrator and the Custodian and request and, if affected, the related Serviced Companion Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or Serviced Loan Combination into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a or Serviced Whole Loan, the related Companion Loan), Loan Combination was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or Serviced Loan Combination has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may be, with the original being released upon termination of the Trust.
applicable. Within three (c) Within seven (73) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee Days, after receipt of an exigency) written certification of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) Loan or Mortgage Serviced Loan Combination, or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, If from time to time, pursuant to the terms of the applicable NonCo-Serviced Intercreditor Lender Agreement and the applicable Non-Other Pooling and Servicing Agreement related to an Outside Serviced Pooling AgreementTrust Loan, and as appropriate for enforcing the terms of a Non-of, or otherwise properly servicing, such Outside Serviced Mortgage Trust Loan, the applicable Non-Serviced Master related Outside Servicer, the related Outside Special Servicer or other similar party requests delivery to it of the original Mortgage Note for a Non-such Outside Serviced Mortgage Trust Loan, then such party shall deliver a Request for Release in the form of Exhibit C attached hereto to the Custodian and the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer the requesting party or its designee. In connection with the release of the original Note for an Outside Serviced Trust Loan in accordance with the preceding sentence, the Custodian shall obtain such documentation as is appropriate to evidence the holding by the related Outside Servicer, the related Outside Special Servicer or such other similar party, as the case may be, of such original Mortgage Note as custodian on behalf of and for the benefit of the Trustee.
Appears in 11 contracts
Samples: Pooling and Servicing Agreement (Benchmark 2021-B23 Mortgage Trust), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2015-Gc32), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2015-Gc29)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or the Special Servicer, as the case may be; provided that in the case of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Collection Account.
(b) From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being released upon termination of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling AgreementPSA, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2016-Bnk2), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2017-Gs7), Pooling and Servicing Agreement (UBS Commercial Mortgage Trust 2017-C1)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-or Serviced Mortgage Loan), Whole Loan or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee Trustee, the Certificate Administrator and the Custodian and request and, if affected, the related Companion Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or Serviced Whole Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a or Serviced Whole Loan, the related Companion Loan), Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or Serviced Whole Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may be, with the original being released upon termination of the Trust.
applicable. Within three (c) Within seven (73) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee Days, after receipt of an exigency) written certification of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or Serviced Whole Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, If from time to time, pursuant to the terms of the applicable NonCo-Serviced Intercreditor Lender Agreement and the applicable Other Pooling and Servicing Agreement related to a Non-Serviced Pooling AgreementMortgage Loan, and as appropriate for enforcing the terms of a of, or otherwise properly servicing, such Non-Serviced Mortgage Loan, the applicable Non-Serviced Other Master Servicer, the applicable Other Special Servicer or other similar party requests delivery to it of the original Mortgage Note Note(s) for a such Non-Serviced Mortgage Loan, then such party shall deliver a Request for Release in the form of Exhibit C attached hereto to the Custodian, and the Custodian shall release or cause the release of such original Mortgage Note Note(s) to such the requesting party or its designee. In connection with the release of the original Note(s) for a Non-Serviced Mortgage Loan in accordance with the preceding sentence, the Custodian shall obtain such documentation as is appropriate to evidence the holding by the applicable Other Master Servicer, the applicable Other Special Servicer or its designeesuch other similar party, as the case may be, of such original Note(s) as custodian on behalf of and for the benefit of the Trustee.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (CSAIL 2015-C4 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C3 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C3 Commercial Mortgage Trust)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or Special Servicer, as the case may be; provided that in the case of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being released upon termination of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-Lc11), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-C10), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-Lc11)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or Whole Loan or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee Trustee, the Certificate Administrator and the Custodian and request and, if affected, the related Companion Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or Whole Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced or Whole Loan, the related Companion Loan), Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or Whole Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may be, with the original being released upon termination of the Trust.
applicable. Within three (c) Within seven (73) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee Days, after receipt of an exigency) written certification of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or Whole Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2014-Gc19), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc18), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc18)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-or Serviced Mortgage Loan), Whole Loan or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee Trustee, the Certificate Administrator and the Custodian and request and, if affected, the related Companion Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or Serviced Whole Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a or Serviced Whole Loan, the related Companion Loan), Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or Serviced Whole Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may be, with the original being released upon termination of the Trust.
applicable. Within three (c) Within seven (73) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee Days, after receipt of an exigency) written certification of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or Serviced Whole Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, If from time to time, pursuant to the terms of the applicable NonCo-Serviced Intercreditor Lender Agreement and the applicable Other Pooling and Servicing Agreement related to a Non-Serviced Pooling AgreementMortgage Loan, and as appropriate for enforcing the terms of a of, or otherwise properly servicing, such Non-Serviced Mortgage Loan, the applicable Non-Serviced Other Master Servicer, the applicable Other Special Servicer or other similar party requests delivery to it of the original Mortgage Note Note(s) for a Non-such Non- Serviced Mortgage Loan, then such party shall deliver a Request for Release in the form of Exhibit C attached hereto to the Custodian, and the Custodian shall release or cause the release of such original Mortgage Note Note(s) to such the requesting party or its designee. In connection with the release of the original Note(s) for a Non-Serviced Mortgage Loan in accordance with the preceding sentence, the Custodian shall obtain such documentation as is appropriate to evidence the holding by the applicable Other Master Servicer, the applicable Other Special Servicer or its designeesuch other similar party, as the case may be, of such original Note(s) as custodian on behalf of and for the benefit of the Trustee.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (CSAIL 2016-C6 Commercial Mortgage Trust), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2015-Ubs8), Pooling and Servicing Agreement (CSAIL 2015-C3 Commercial Mortgage Trust)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-or Serviced Mortgage Loan), Whole Loan or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee Trustee, the Certificate Administrator and the Custodian and request and, if affected, the related Companion Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or Serviced Whole Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a or Serviced Whole Loan, the related Companion Loan), Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or Serviced Whole Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may be, with the original being released upon termination of the Trust.
applicable. Within three (c) Within seven (73) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee Days, after receipt of an exigency) written certification of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or Serviced Whole Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, If from time to time, pursuant to the terms of the applicable NonCo-Serviced Intercreditor Lender Agreement and the applicable Other Pooling and Servicing Agreement related to the Non-Serviced Pooling AgreementMortgage Loans, and as appropriate for enforcing the terms of a of, or otherwise properly servicing, such Non-Serviced Mortgage Loan, the applicable Non-Serviced an Other Master Servicer, an Other Special Servicer or other similar party requests delivery to it of the original Mortgage Note for a such Non-Serviced Mortgage Loan, then such party shall deliver a Request for Release in the form of Exhibit C attached hereto to the Custodian. Upon receipt of a Request for Release, the Custodian shall release or cause the release of such original Mortgage Note to such the requesting party or its designee. In connection with the release of the original Note for each Non-Serviced Mortgage Loan in accordance with the preceding sentence, the Custodian shall obtain such documentation as is appropriate to evidence the holding by an Other Master Servicer, an Other Special Servicer or its designeesuch other similar party, as the case may be, of such original Note as custodian on behalf of and for the benefit of the Trustee. For the avoidance of doubt, the Custodian may only rely on and deem the Request for Release to evidence that the original Note will be held by the applicable party on behalf of and for the benefit of the Trustee.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2017-H1), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2014-Gc23), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc22)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan or Trust Companion Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or Special Servicer, as the case may be; provided that in the case of the payment in full of a Trust Companion Loan or a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan or Trust Whole Loan, as applicable, is paid in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Trust Companion Loan or Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan or the Trust Whole Loan, as applicable, the related Companion Loan or Trust Companion Loan, as applicable), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Account (including amounts related to the related Companion Loan or Trust Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being released upon termination of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or Trust Companion Loan, as applicable) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C25), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C24), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C23)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee Trustee, the Certificate Administrator and the Custodian and request by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may be, with the original being released upon termination of the Trust.
applicable. Within three (c) Within seven (73) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee Days, after receipt of an exigency) written certification of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
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)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or Special Servicer, as the case may be; provided that in the case of the payment in full of a Serviced Subordinate Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced AB Whole Loan is paid in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced and, in the case of an AB Mortgage Loan) (and any , the related Subordinate Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole an AB Mortgage Loan, the related Subordinate Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Account (including amounts related to the related Subordinate Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being released upon termination of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including including, in the case of an AB Mortgage Loan, any note evidencing a the related Subordinate Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-Cibx), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-Cibx)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or Special Servicer, as the case may be; provided that in the case of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being released upon termination of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-C13), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-C13)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee and Trustee, the Certificate Administrator or the Custodian and request by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may be, with the original being released upon termination of the Trust.
applicable. Within three (c) Within seven (73) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee Days, after receipt of an exigency) written certification of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, If from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Other Pooling and Servicing Agreement related to a Non-Serviced Pooling AgreementTrust Loan, and as appropriate for enforcing the terms of a of, or otherwise properly servicing, such Non-Serviced Mortgage Trust Loan, the applicable Non-Serviced Other Master Servicer, the Other Special Servicer or other similar party requests delivery to it of the original Mortgage Note for a such Non-Serviced Mortgage Trust Loan, then such party shall deliver a Request for Release in the form of Exhibit F-1 attached hereto to the Custodian and the Custodian shall release or cause the release of such original Mortgage Note to such the requesting party or its designee. In connection with the release of the original Note for a Non-Serviced Trust Loan in accordance with the preceding sentence, the Custodian shall obtain such documentation as is appropriate to evidence the holding by the Other Master Servicer, the Other Special Servicer or its designeesuch other similar party, as the case may be, of such original Mortgage Note as custodian on behalf of and for the benefit of the Trustee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2012-Gcj9), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2012-Gcj9)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or Special Servicer, as the case may be; provided that in the case of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being released upon termination of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-C8), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-C8)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the Loan Combination or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee and Trustee[, the Certificate Administrator] or the Custodian and request and, if affected, the Non-Trust Mortgage Interest Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or the Loan Combination into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in or the case of a Serviced Whole Loan, the related Companion Loan), Loan Combination was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or the Loan Combination has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Within 3 Business Days, with the original being released upon termination after receipt of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee written certification of an exigency) of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) Loan or Mortgage the Loan Combination, or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (RBS Commercial Funding Inc.), Pooling and Servicing Agreement (RBS Commercial Funding Inc.)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or Special Servicer, as the case may be; provided that in the case of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being released upon termination of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a the related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-Lc9), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-Lc9)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or Special Servicer, as the case may be; provided that in the case of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being released upon termination of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling and Servicing Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2013-C12), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2013-C12)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or Whole Loan or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee Trustee, the Certificate Administrator and the Custodian and request and, if affected, the related Companion Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or Whole Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced or Whole Loan, the related Companion Loan), Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or Whole Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may be, with the original being released upon termination of the Trust.
applicable. Within three (c) Within seven (73) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee Days, after receipt of an exigency) written certification of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or Whole Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, [If from time to time, pursuant to the terms of the applicable Co-Lender Agreement and the Other Pooling and Servicing Agreement related to a Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling AgreementMortgage Loan, and as appropriate for enforcing the terms of a of, or otherwise properly servicing, such Non-Serviced Mortgage Loan, the applicable Non-Serviced Other Master Servicer, the Other Special Servicer or other similar party requests delivery to it of the original Mortgage Note for a such Non-Serviced Mortgage Loan, then such party shall deliver a Request for Release in the form of Exhibit C attached hereto to the Custodian and the Custodian shall release or cause the release of such original Mortgage Note to such the requesting party or its designee. In connection with the release of the original Note for a Non-Serviced Mortgage Loan in accordance with the preceding sentence, the Custodian shall obtain such documentation as is appropriate to evidence the holding by the Other Master Servicer, the Other Special Servicer or its designeesuch other similar party, as the case may be, of such original Mortgage Note as custodian on behalf of and for the benefit of the Trustee.]
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (Gs Mortgage Securities Corp Ii)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan or the Trust Companion Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or Special Servicer, as the case may be; provided that in the case of the payment in full of the Trust Companion Loan or a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan or the U-Haul Self Storage Whole Loan, as applicable, is paid in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Trust Companion Loan or Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan or the U-Haul Self Storage Whole Loan, as applicable, the related Companion Loan or Trust Companion Loan, as applicable), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Account (including amounts related to the related Companion Loan or Trust Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being released upon termination of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or Trust Companion Loan, as applicable) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C23), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C22)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or Whole Loan or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee and Trustee, the Certificate Administrator or the Custodian and request and, if affected, the related Companion Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or Whole Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced or Whole Loan, the related Companion Loan), Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or Whole Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Within 3 Business Days, with the original being released upon termination after receipt of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee written certification of an exigency) of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or Whole Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2012-Gcj7), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2012-Gcj7)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or Special Servicer, as the case may be; provided that in the case of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being released upon termination of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-C6), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-C6)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the Whole Loan or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee and Trustee, the Certificate Administrator or the Custodian and request and, if affected, the Companion Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or the Whole Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in or the case of a Serviced Whole Loan, the related Companion Loan), Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or the Whole Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Within 3 Business Days, with the original being released upon termination after receipt of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee written certification of an exigency) of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or the Whole Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2011-Gc5), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2011-Gc5)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-or Serviced Mortgage Loan), Loan Combination or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee Trustee, the Certificate Administrator and the Custodian and request and, if affected, the related Serviced Companion Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or Serviced Loan Combination into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a or Serviced Whole Loan, the related Companion Loan), Loan Combination was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or Serviced Loan Combination has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may be, with the original being released upon termination of the Trust.
applicable. Within three (c) Within seven (73) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee Days, after receipt of an exigency) written certification of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) Loan or Mortgage Serviced Loan Combination, or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, If from time to time, pursuant to the terms of the applicable NonCo-Serviced Intercreditor Lender Agreement and the applicable Non-Other Pooling and Servicing Agreement related to an Outside Serviced Pooling AgreementTrust Loan, and as appropriate for enforcing the terms of a Non-of, or otherwise properly servicing, such Outside Serviced Mortgage Trust Loan, the applicable Non-Serviced related Other Master Servicer, the related Other Special Servicer or other similar party requests delivery to it of the original Mortgage Note for a Non-such Outside Serviced Mortgage Trust Loan, then such party shall deliver a Request for Release in the form of Exhibit C attached hereto to the Custodian and the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer the requesting party or its designee. In connection with the release of the original Note for an Outside Serviced Trust Loan in accordance with the preceding sentence, the Custodian shall obtain such documentation as is appropriate to evidence the holding by the related Other Master Servicer, the related Other Special Servicer or such other similar party, as the case may be, of such original Mortgage Note as custodian on behalf of and for the benefit of the Trustee.
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)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-or Serviced Mortgage Loan), Whole Loan or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee Trustee, the Certificate Administrator and the Custodian and request and, if affected, the related Companion Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or Serviced Whole Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a or Serviced Whole Loan, the related Companion Loan), Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or Serviced Whole Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may be, with the original being released upon termination of the Trust.
applicable. Within three (c) Within seven (73) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee Days, after receipt of an exigency) written certification of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or Serviced Whole Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, If from time to time, pursuant to the terms of the applicable NonCo-Serviced Intercreditor Lender Agreement and the applicable Other Pooling and Servicing Agreement related to the Non-Serviced Pooling AgreementMortgage Loan, and as appropriate for enforcing the terms of a of, or otherwise properly servicing, such Non-Serviced Mortgage Loan, the applicable Non-Serviced an Other Master Servicer, an Other Special Servicer or other similar party requests delivery to it of the original Mortgage Note for a such Non-Serviced Mortgage Loan, then such party shall deliver a Request for Release in the form of Exhibit C attached hereto to the Custodian. Upon receipt of a Request for Release, the Custodian shall release or cause the release of such original Mortgage Note to such the requesting party or its designee. In connection with the release of the original Note for the Non-Serviced Mortgage Loan in accordance with the preceding sentence, the Custodian shall obtain such documentation as is appropriate to evidence the holding by an Other Master Servicer, an Other Special Servicer or its designeesuch other similar party, as the case may be, of such original Note as custodian on behalf of and for the benefit of the Trustee. For the avoidance of doubt, the Custodian may only rely on and deem the Request for Release to evidence that the original Note will be held by the applicable party on behalf of and for the benefit of the Trustee.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2014-Gc21), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc20)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the Loan Combination or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee and Trustee[, the Certificate Administrator] or the Custodian and request and, if affected, the Non-Trust Mortgage Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or the Loan Combination into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in or the case of a Serviced Whole Loan, the related Companion Loan), Loan Combination was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or the Loan Combination has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Within 3 Business Days, with the original being released upon termination after receipt of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee written certification of an exigency) of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) Loan or Mortgage the Loan Combination, or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Barclays Commercial Mortgage Securities LLC)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Nonor the Split-Serviced Mortgage Loan), Loan or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee and Trustee, the Certificate Administrator or the Custodian and request and, if affected, the Companion Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or the Split-Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in or the case of a Serviced Whole Loan, the related Companion Loan), Split-Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or the Split-Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Within 3 Business Days, with the original being released upon termination after receipt of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee written certification of an exigency) of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or the Split-Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CCRE Commercial Mortgage Securities, L.P.)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-or Serviced Mortgage Loan), Whole Loan or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee Trustee, the Certificate Administrator and the Custodian and request and, if affected, the related Companion Loan Holder by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan or Serviced Whole Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a or Serviced Whole Loan, the related Companion Loan), Loan was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan or Serviced Whole Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may be, with the original being released upon termination of the Trust.
applicable. Within three (c) Within seven (73) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee Days, after receipt of an exigency) written certification of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or Serviced Whole Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, If from time to time, pursuant to the terms of the applicable NonCo-Serviced Intercreditor Lender Agreement and the applicable Other Pooling and Servicing Agreement related to a Non-Serviced Pooling AgreementMortgage Loan, and as appropriate for enforcing the terms of a of, or otherwise properly servicing, such Non-Serviced Mortgage Loan, the applicable Non-Serviced an Other Master Servicer, an Other Special Servicer or other similar party requests delivery to it of the original Mortgage Note for a such Non-Serviced Mortgage Loan, then such party shall deliver a Request for Release in the form of Exhibit C attached hereto to the Custodian and the Custodian shall release or cause the release of such original Mortgage Note to such the requesting party or its designee. In connection with the release of the original Note for a Non-Serviced Mortgage Loan in accordance with the preceding sentence, the Custodian shall obtain such documentation as is appropriate to evidence the holding by an Other Master Servicer, an Other Special Servicer or its designeesuch other similar party, as the case may be, of such original Mortgage Note as custodian on behalf of and for the benefit of the Trustee.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2013-Gcj16)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan or ESK Companion Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, of a notification that payment in full shall be escrowed in a manner customary for such purposes, the Master Servicer or Special Servicer, as the case may be, will promptly notify the Trustee and the Custodian and request delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice and request, the Custodian shall release the related Mortgage File to the Master Servicer or Special Servicer, as the case may be; provided that in the case of the payment in full of the ESK Companion Loan or a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan or ESK Whole Loan, as applicable, is paid in full. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) From time to time as is appropriate for servicing or foreclosure of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related the ESK Companion Loan or Companion Loan), the Master Servicer or the Special Servicer shall deliver to the Custodian a Request for Release signed by a Servicing Officer. Upon receipt of the foregoing, the Custodian shall deliver the Mortgage File or any document therein to the Master Servicer or the Special Servicer (or a designee), as the case may be. Upon return of such Mortgage File or such document to the Custodian, or the delivery to the Trustee and the Custodian of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan or the ESK Whole Loan, as applicable, the related Companion Loan or ESK Companion Loan, as applicable), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Account (including amounts related to the related Companion Loan or ESK Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee), as the case may be, with the original being released upon termination of the Trust.
(c) Within seven (7) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee of an exigency) of receipt thereof, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan or ESK Companion Loan, as applicable) or Mortgage or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage or otherwise available at law or in equity. The Special Servicer shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by a certificate of a Servicing Officer requesting that such pleadings or documents be executed by the Trustee and certifying as to the reason such documents or pleadings are required and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the Mortgage, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, from time to time, pursuant to the terms of the applicable Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling Agreement, and as appropriate for enforcing the terms of a Non-Serviced Mortgage Loan, the applicable Non-Serviced Master Servicer requests delivery to it of the original Mortgage Note for a Non-Serviced Mortgage Loan, then the Custodian shall release or cause the release of such original Mortgage Note to such Non-Serviced Master Servicer or its designee.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C24)
Trustee and Certificate Administrator to Cooperate; Release of Mortgage Files. (a) Upon the payment in full of any Mortgage Loan (other than a Non-Serviced Mortgage Loan), or the receipt by the Master Servicer or the Special Servicer, as the case may be, Servicer of a notification that payment in full shall be has been escrowed in a manner customary for such purposes, the Master Servicer or the Special Servicer, as the case may be, will promptly Servicer shall immediately notify the Trustee Trustee, the Certificate Administrator and the Custodian and request by delivery of the related Mortgage File. Any such notice and request shall be in the form of a Request for Release signed by a Servicing Officer and certification (which certification shall include a statement to the effect that all amounts received or to be received in connection with such payment which are required to be deposited in the Certificate Collection Account pursuant to Section 3.04(a) or remitted to the Master Servicer to enable such deposit, 3.05 of this Agreement have been or will be so deposited. Within seven (7) Business Days (or within such shorter period as release can reasonably be accomplished if the Master Servicer or the Special Servicer notifies the Custodian of an exigency) of receipt of such notice a Servicing Officer and request, the Custodian shall release the related Mortgage File request delivery to the Master Servicer or Special Servicer, as the case may be; provided that in the case it of the payment in full of a Serviced Companion Loan or its related Mortgage Loan, the related Mortgage File shall not be released by the Custodian unless the related Serviced Whole Loan is paid in fullFile. No expenses incurred in connection with any instrument of satisfaction or deed of reconveyance shall be chargeable to the Certificate Account.
(b) Trust Fund. From time to time as is appropriate for servicing or foreclosure upon request of any Mortgage Loan (other than any Non-Serviced Mortgage Loan) (and any related Companion Loan), the Master Servicer or the Special Servicer shall deliver and delivery to the Custodian of a Request for Release signed by a Servicing Officer. Upon receipt of the foregoingRelease, the Certificate Administrator shall promptly cause the Custodian shall deliver to release the Mortgage File (or any document therein portion thereof) designated in such Request for Release to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may beapplicable. Upon return of such Mortgage File or such document the foregoing to the Custodian, or in the delivery to event of a liquidation or conversion of the Mortgage Loan into an REO Property, receipt by the Trustee and the Custodian Certificate Administrator of a certificate of a Servicing Officer of the Master Servicer or the Special Servicer, as the case may be, stating that such Mortgage Loan (and, in the case of a Serviced Whole Loan, the related Companion Loan), was liquidated and that all amounts received or to be received in connection with such liquidation which are required to be deposited into the Certificate Collection Account (including amounts related to the related Companion Loan, if applicable) pursuant to Section 3.04(a) have been or will be so deposited, or that such Mortgage Loan has become an REO Property, the Custodian shall deliver a copy of the Request for Release shall be released by the Custodian to the Master Servicer or the Special Servicer (or a designee)Servicer, as the case may be, with the original being released upon termination of the Trust.
applicable. Within three (c) Within seven (73) Business Days (or within such shorter period as delivery can reasonably be accomplished if the Special Servicer notifies the Trustee Days, after receipt of an exigency) written certification of receipt thereofa Servicing Officer, the Trustee shall execute and deliver to the Special Servicer any court pleadings, requests for trustee’s sale or other documents prepared by the Special Servicer, its agents or attorneys and reasonably acceptable to the Trustee, necessary to the foreclosure or trustee’s sale in respect of a Mortgaged Property or to any legal action brought to obtain judgment against any Mortgagor on the Mortgage Note (including any note evidencing a related Companion Loan) or Mortgage , or to obtain a deficiency judgment, or to enforce any other remedies or rights provided by the Mortgage Note or Mortgage Loan Documents or otherwise available at law or in equity. The Special Servicer Each such certification shall be responsible for the preparation of all such documents and pleadings. When submitted to the Trustee for signature, such documents or pleadings shall be accompanied by include a certificate of a Servicing Officer requesting request that such pleadings or documents be executed by the Trustee and certifying a statement as to the reason such documents or pleadings are required required, and that the execution and delivery thereof by the Trustee will not invalidate or otherwise affect the lien of the MortgageMortgage or other security agreement, except for the termination of such a lien upon completion of the foreclosure or trustee’s sale. The Trustee shall not be required to review such documents for their sufficiency or enforceability.
(d) If, If from time to time, pursuant to the terms of the applicable Co-Lender Agreement and the Other Pooling and Servicing Agreement related to a Non-Serviced Intercreditor Agreement and the applicable Non-Serviced Pooling AgreementMortgage Loan, and as appropriate for enforcing the terms of a of, or otherwise properly servicing, such Non-Serviced Mortgage Loan, the applicable Non-Serviced Other Master Servicer, the Other Special Servicer or other similar party requests delivery to it of the original Mortgage Note for a such Non-Serviced Mortgage Loan, then such party shall deliver a Request for Release in the form of Exhibit C attached hereto to the Custodian and the Custodian shall release or cause the release of such original Mortgage Note to such the requesting party or its designee. In connection with the release of the original Note for a Non-Serviced Mortgage Loan in accordance with the preceding sentence, the Custodian shall obtain such documentation as is appropriate to evidence the holding by the Other Master Servicer, the Other Special Servicer or its designeesuch other similar party, as the case may be, of such original Mortgage Note as custodian on behalf of and for the benefit of the Trustee.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2013-Gcj14)