Common use of Waiver of Servicer Termination Event Clause in Contracts

Waiver of Servicer Termination Event. The Holders of Certificates representing at least 66-2/3% of the Voting Rights allocated to each Class of Certificates (and the Serviced Pari Passu Companion Loan Holders, if affected) affected by any Servicer Termination Event hereunder (determined without notionally reducing the Class Principal Balances of the Certificates by any Appraisal Reduction Amounts) may waive such Servicer Termination Event without the consent of any other Person; provided that a Servicer Termination Event under clause (i), clause (ii), clause (iii), clause (x) or clause (xiii) of Section 7.01(a) may be waived only by all of the Certificateholders of the affected Classes (and the Serviced Pari Passu Companion Loan Holder, if affected). Subject to Section 7.04, no Person other than the Depositor shall be entitled to waive any Servicer Termination Event described in clause (xv) without the prior consent of the Depositor and, with respect to a Servicer Termination Event described in clause (xv) related to the Serviced Loan Combination, each Other Depositor with respect to each Other Securitization. Upon any such waiver of a Servicer Termination Event, and payment to the Trustee and the Certificate Administrator of all reasonable costs and expenses incurred by the Trustee and the Certificate Administrator in connection with such default prior to its waiver (which costs shall be paid by the party requesting such waiver), such Servicer Termination Event shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other Servicer Termination Event or impair any right consequent thereon except to the extent expressly so waived. Notwithstanding any other provisions of this Agreement, for purposes of waiving any Servicer Termination Event pursuant to this Section 7.04, Certificates registered in the name of the Depositor or any Affiliate of the Depositor shall be entitled to the same Voting Rights with respect to the matters described above as they would if registered in the name of any other Person.

Waiver of Servicer Termination Event. The Holders of Certificates representing at least 66-2/3% of the Voting Rights allocated to each Class of Certificates (and the Serviced Pari Passu Companion Loan Holders, if affected) affected by any Servicer Termination Event hereunder (determined without notionally reducing the Class Principal Balances of the Certificates by any Appraisal Reduction Amounts) may waive such Servicer Termination Event without the consent of any other Person; provided that a Servicer Termination Event under clause (i), clause (ii), clause (iii), clause (x), clause (xi) or clause (xiii) of Section 7.01(a) may be waived only by all of the Certificateholders of the affected Classes (and the Serviced Pari Passu Companion Loan Holder, if affected) and in any event such Holders shall not be entitled to waive any Servicer Termination Event under Section 7.01(a)(xvi) (which may be waived only by the Serviced Pari Passu Companion Loan Holder). Subject to Section 7.04, no Person other than the Depositor shall be entitled to waive any Servicer Termination Event described in clause (xv) without the prior consent of the Depositor and, with respect to a Servicer Termination Event described in clause (xv) related to the Serviced Loan Combination, each Other Depositor with respect to each Other Securitization. Upon any such waiver of a Servicer Termination Event, and payment to the Trustee and the Certificate Administrator of all reasonable costs and expenses incurred by the Trustee and the Certificate Administrator in connection with such default prior to its waiver (which costs shall be paid by the party requesting such waiver), such Servicer Termination Event shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other Servicer Termination Event or impair any right consequent thereon except to the extent expressly so waived. Notwithstanding any other provisions of this Agreement, for purposes of waiving any Servicer Termination Event pursuant to this Section 7.04, Certificates registered in the name of the Depositor or any Affiliate of the Depositor shall be entitled to the same Voting Rights with respect to the matters described above as they would if registered in the name of any other Person.

Waiver of Servicer Termination Event. The Holders of Certificates representing at least 66-2/3% of the Voting Rights allocated to each Class of Certificates (and the Serviced Pari Passu Companion Loan Holders, if affected) affected by any Servicer Termination Event hereunder (determined without notionally reducing the Class Principal Balances of the Certificates by any Appraisal Reduction Amounts) may waive such Servicer Termination Event without the consent of any other Person; provided that a Servicer Termination Event under clause (i), clause (ii), clause (iii), clause (x), clause (xi) or clause (xiii) of Section 7.01(a) may be waived only by all of the Certificateholders of the affected Classes (and the Serviced Pari Passu Companion Loan Holder, if affected)Classes. Subject to Section 7.04, no Person other than the Depositor shall be entitled to waive any Servicer Termination Event described in clause (xvSection 7.01(a)(xiv) without the prior consent of the Depositor and, with respect to a Servicer Termination Event described in clause (xv) related to the Serviced Loan Combination, each Other Depositor with respect to each Other SecuritizationDepositor. Upon any such waiver of a Servicer Termination Event, and payment to the Trustee and the Certificate Administrator of all reasonable costs and expenses incurred by the Trustee and the Certificate Administrator in connection with such default prior to its waiver (which costs shall be paid by the party requesting such waiver), such Servicer Termination Event shall cease to exist and shall be deemed to have been remedied for every purpose hereunder. No such waiver shall extend to any subsequent or other Servicer Termination Event or impair any right consequent thereon except to the extent expressly so waived. Notwithstanding any other provisions of this Agreement, for purposes of waiving any Servicer Termination Event pursuant to this Section 7.04, Certificates registered in the name of the Depositor or any Affiliate of the Depositor shall be entitled to the same Voting Rights with respect to the matters described above as they would if registered in the name of any other Person.