Waiver of Defaults. The Master Servicer may waive any default by the Primary Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary Servicer Termination Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 62 contracts
Samples: Primary Servicing Agreement (Bank5 2024-5yr7), Primary Servicing Agreement (Bank5 2024-5yr7), Primary Servicing Agreement (Benchmark 2024-V5 Mortgage Trust)
Waiver of Defaults. The Master Servicer may waive any default by the Primary Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary Servicer Termination Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 54 contracts
Samples: Primary Servicing Agreement (BBCMS Mortgage Trust 2024-5c27), Primary Servicing Agreement (BBCMS Mortgage Trust 2024-C26), Primary Servicing Agreement (BBCMS Mortgage Trust 2021-C11)
Waiver of Defaults. The Master Servicer may waive any default by the Primary Sub-Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary Sub-Servicer Termination Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 22 contracts
Samples: Sub Servicing Agreement (Morgan Stanley Capital I Trust 2019-H6), Sub Servicing Agreement (CSAIL 2021-C20 Commercial Mortgage Trust), Sub Servicing Agreement (BBCMS Mortgage Trust 2018-C2)
Waiver of Defaults. The Master Servicer may waive any default by the Primary Sub-Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary Servicer Termination Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 10 contracts
Samples: Sub Servicing Agreement (COMM 2006-C7 Mortgage Trust), Sub Servicing Agreement (Morgan Stanley Capital I Trust 2007-Iq14), Sub Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2007-3)
Waiver of Defaults. The Master Servicer may waive any default by the Primary Servicer in the performance of its obligations hereunder and its consequencesthe consequences thereof, except a default in the making of or the causing to be made any required distribution. Upon any such waiver of a past default, such default shall be deemed to cease to exist, and any Primary Servicer Termination Event Servicing Default arising therefrom shall be deemed to have been timely remedied for every purpose of this Servicing Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2005-2), Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2007-5), Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2005-1)
Waiver of Defaults. The Master Servicer may waive waive, only by written notice, any default by the Primary Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary Servicer Termination Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waivedwaived in writing.
Appears in 6 contracts
Samples: Servicing Agreement (Peoples Choice Home Loan Securities Corp), Servicing Agreement (MortgageIT Mortgage Loan Trust 2006-1), Servicing Agreement (Peoples Choice Home Loan Securities Trust Series 2005-2)
Waiver of Defaults. The Master Servicer may waive any default by the Primary Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary Sub-Servicer Termination Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 4 contracts
Samples: Primary Servicing Agreement (WFRBS Commercial Mortgage Trust 2012-C8), Primary Servicing Agreement (WFRBS Commercial Mortgage Trust 2013-C11), Primary Servicing Agreement (WFRBS Commercial Mortgage Trust 2013-C11)
Waiver of Defaults. The By a written notice, the Trustee or the Master Servicer may waive any default by the Primary Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary Servicer Termination Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (FBR Securitization, Inc.), Pooling and Servicing Agreement (First NLC Securitization, Inc.)
Waiver of Defaults. The By a written notice, the Master Servicer may waive any default by the Primary Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary Servicer Termination Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 2 contracts
Samples: Transfer and Servicing Agreement (First NLC Securitization, Inc.), Transfer and Servicing Agreement (FBR Securitization, Inc.)
Waiver of Defaults. The Master Servicer may waive any default by the Primary Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary Servicer Termination Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.. Section 4.03
Appears in 1 contract
Samples: Subservicing Agreement
Waiver of Defaults. The By a written notice, the Master Servicer may waive any default by the Primary Servicer Subservicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary Servicer Termination Subservicer Event of Default arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 1 contract
Samples: Transfer and Servicing Agreement (FBR Securitization, Inc.)
Waiver of Defaults. The Master Servicer may waive any such default by the Primary Servicer in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past default, such default shall cease to exist, and any Primary Servicer Termination Event of Default, as defined in Section 6.01, arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other default or impair any right consequent thereon except to the extent expressly so waived.
Appears in 1 contract
Samples: Luminent Mortgage Trust 2006-6