Examples of NCB Special Servicer in a sentence
Notwithstanding the foregoing, this Limited Power of Attorney shall grant to the Custodian (on behalf of the Trustee) and the NCB Special Servicer only such powers, responsibilities and authority as are set forth in Section 2 of the Mortgage Loan Purchase Agreement.
As between the NCB Special Servicer and any third party, no evidence of the failure or incapacity of the Custodian shall be required and such third party may rely upon the NCB Special Servicer’s written statement that it is acting pursuant to the terms of this Limited Power of Attorney.
Any purchaser, title insurance company or other third party may rely upon a written statement by the Custodian or the NCB Special Servicer that any particular Mortgage Loan or related mortgaged real property in question is subject to and included under this Limited Power of Attorney and the Pooling and Servicing Agreement.
Any act or thing lawfully done hereunder by the Custodian (on behalf of the Trustee) or the NCB Special Servicer shall be binding on Seller and Seller’s successors and assigns.
Except as provided in the proviso to the immediately preceding sentence, the Mortgage Loan Seller shall remit the amount of such costs and expenses to the NCB Special Servicer for disbursement to the applicable Persons and upon its making such remittance, the Mortgage Loan Seller shall be deemed to have cured such Breach in all respects.
This paragraph is intended to apply only to a mutual agreement or settlement between the Mortgage Loan Seller and the NCB Special Servicer on behalf of the Trust.
The Loss of Value Payment shall include the portion of any Liquidation Fees payable to the NCB Special Servicer in respect of such Loss of Value Payment and the portion of fees of the Asset Representations Reviewer payable pursuant to Section 4(k) above attributable to the Asset Review of such Mortgage Loan and not previously paid by the Mortgage Loan Seller.
A review of the activities of the NCB Special Servicer during the preceding calendar year (the “Reporting Period”) and of its performance under the Pooling and Servicing Agreement has been made under my supervision.
A holder's "Affiliates" shall mean entities or persons under the same investment management or control as the holder, including without limitation entities that are partnerships or LLCs with the same general partner or managing member.
The Loss of Value Payment shall include the portion of any Liquidation Fees payable to the NCB Special Servicer in respect of such Loss of Value Payment and the portion of fees of the Asset Representations Reviewer payable pursuant to Section 4(l) above attributable to the Asset Review of such Mortgage Loan and not previously paid by the Mortgage Loan Seller.