Examples of AB Loan Combination in a sentence
No expenses incurred in connection with preparing or recording any instrument of satisfaction or deed of reconveyance shall be chargeable to the Collection Account, the Serviced Pari Passu Companion Loan Custodial Account, any Serviced A/B Loan Combination Custodial Account or the Distribution Account.
For the avoidance of doubt, with respect to any Serviced AB Loan Combination, the Special Servicer shall be responsible for obtaining any consent or deemed consent of the related Directing Holder for “Major Decisions” (as such term is defined in the related Co-Lender Agreement) to the extent such consent is required under this Agreement or under the terms of the related Co-Lender Agreement.
Any engagement of a third party to act as Custodian with respect to the Mortgage File or any portion thereof with respect to an A/B Loan Combination shall be subject to any relevant provisions of the related Co-Lender Agreement.
The Trustee and any Fiscal Agent shall similarly keep and maintain separate accounting with respect to any A/B Loan Combination or any related A/B REO Property, on a loan-by-loan and property-by-property basis, for the purpose of substantiating any request for withdrawal from the related A/B Custodial Account for reimbursements of Advances or interest thereon.
Servicing of and Certain Matters Regarding an A/B Loan Combination..........................................
With respect to each A/B Loan Combination, in the event of a conflict between this Agreement and the related A/B Intercreditor Agreement, such Intercreditor Agreement shall control; provided, however, that in no event shall the Master Servicer or the Special Servicer take any action or omit to take any action in accordance with the terms of any A/B Intercreditor Agreement that would cause such servicer to violate the Servicing Standard, applicable law, the Grantor Trust Provisions or the REMIC Provisions.
Subject to the second paragraph of Section 3.03(c), the Master Servicer shall advance the cost of such Required Appraisal; provided, however, that such expense will be subject to reimbursement to the Master Servicer as a Servicing Advance out of the Certificate Account, pursuant to Section 3.05(a) or, in the case of an A/B Loan Combination, out of the related A/B Custodial Account, pursuant to Section 3.05(g), as applicable in accordance with Section 3.05.
With respect to each A/B Loan Combination, in the event of a conflict between this Agreement and the related Co-Lender Agreement, such Co-Lender Agreement shall control; provided, however, that in no event shall a Master Servicer or the Special Servicer take any action or omit to take any action in accordance with the terms of any Co-Lender Agreement that would cause such servicer to violate the Servicing Standard, applicable law, the Grantor Trust Provisions or the REMIC Provisions.
Subject to the second paragraph of Section 3.03(c), the applicable Master Servicer shall advance the cost of such Required Appraisal; provided, however, that such expense will be subject to reimbursement to the applicable Master Servicer as a Servicing Advance out of the Collection Accounts, pursuant to Section 3.05(a) or, in the case of an A/B Loan Combination, out of the related A/B Custodial Account, pursuant to Section 3.05(e), as applicable in accordance with Section 3.05.
No other person, including, without limitation, any Mortgagor, shall be entitled to any benefit or equitable right, remedy or claim under this Agreement; provided that each B-Noteholder is an intended third-party beneficiary hereunder with respect to those provisions of this Agreement affecting its interest in the related A/B Loan Combination and the Swap Counterparty is an intended third-party beneficiary hereunder.