Serviced Companion Loan Intercreditor Matters Sample Clauses

Serviced Companion Loan Intercreditor Matters. (a) If, pursuant to Section 2.03, Section 3.17 or Section 9.01 of this Agreement, any Mortgage Loan that relates to a Serviced Loan Combination is purchased from, repurchased from or substituted out of, the Trust Fund, the subsequent holder thereof shall be bound by the terms of the related Co-Lender Agreement and shall assume the rights and obligations of the holder of the Note that represents the related Mortgage Loan under such Co-Lender Agreement. Subject to the provisions of the related Co-Lender Agreement regarding servicing and custodial responsibilities: (i) all portions of the related Mortgage File and (to the extent provided under the related Mortgage Loan Purchase Agreement) other documents pertaining to such Mortgage Loan shall be endorsed or assigned to the extent necessary or appropriate to the purchaser of such Mortgage Loan in its capacity as the holder of the Note that represents the related Mortgage Loan (as a result of such purchase, repurchase or substitution) and (except for the actual Note) on behalf of the holder of the Note(s) that represents the Serviced Companion Loan(s); (ii) thereafter, such Mortgage File shall be held by the holder of the Note that represents the related Mortgage Loan or a custodian appointed thereby for the benefit thereof, on behalf of itself and the holder of the related Serviced Companion Loan(s) as their interests appear under the related Co-Lender Agreement; and (iii) if the related Servicing File is not already in the possession of such party, it shall be delivered to the master servicer or special servicer, as the case may be, under any separate servicing agreement for the Serviced Loan Combinations.
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Serviced Companion Loan Intercreditor Matters. (a) If, pursuant to Section 2.03, Section 3.18 or Section 9.01, any Mortgage Loan that relates to a Serviced Whole Loan is purchased or repurchased from the Trust Fund, the purchaser thereof shall be bound by the terms of the related Intercreditor Agreement and shall assume the rights and obligations of the holder of the Note that represents the related Mortgage Loan under such Intercreditor Agreement. All portions of the related Mortgage File and other documents pertaining to such Mortgage Loan shall be endorsed or assigned to the extent necessary or appropriate to the purchaser of such Mortgage Loan in its capacity as the holder of the Note that represents the related Mortgage Loan (as a result of such purchase or repurchase) and (except for the actual Note) on behalf of the holder of the Note that represents the related Companion Loan. Thereafter, such Mortgage File shall be held by the holder of the Note that represents the related Mortgage Loan or a custodian appointed thereby for the benefit thereof, on behalf of itself and the holder of the related Companion Loan as their interests appear under the related Intercreditor Agreement. If the related Servicing File is not already in the possession of such party, it shall be delivered to the master servicer or special servicer, as the case may be, under any separate servicing agreement for the Serviced Whole Loan. In addition, if at any time neither any portion of a Mortgage Loan related to a Serviced Whole Loan nor any related REO Property is an asset of the Trust, and if a separate servicing agreement with respect to the Serviced Whole Loan or any REO Property, as applicable, has not been entered into pursuant to the related Intercreditor Agreement (or any Rating Agency Confirmation required with respect to any Pari Passu Companion Loan has been obtained), then, until such time as a separate servicing agreement is entered into in accordance with such Intercreditor Agreement, and notwithstanding that neither such Mortgage Loan nor any related REO Property is an asset of the Trust, the Trustee shall continue to hold the related Mortgage File, and the Master Servicer and the Special Servicer shall continue to service and administer the applicable Serviced Whole Loan and/or any REO Property, for the benefit of the holder of the applicable Mortgage Loan and the related Companion Loan Holders, under this Agreement as if such Serviced Whole Loan or any REO Property were the sole assets subject thereto, with an...
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Serviced Companion Loan Intercreditor Matters. (a) Except for those duties to be performed by, and notices to be furnished by, the Trustee or the Serviced Whole Loan Paying Agent under this Agreement in respect of any Serviced Companion Loan, the Master Servicer or the Special Servicer, as applicable, shall 200 perform such duties and furnish such notices, reports and information on behalf of the Trust Fund as may be the obligation of the Trust under the related Intercreditor Agreement.
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Serviced Companion Loan Intercreditor Matters. ARTICLE IV
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Serviced Companion Loan Intercreditor Matters. (a) Except for those duties to be performed by, and notices to be furnished by, the Trustee or the Serviced Companion Loan Paying Agent under this Agreement, the Master Servicer or the Special Servicer, as applicable, shall perform such duties and furnish such notices, reports and information on behalf of the Trust Fund as may be the obligation of the Trust under the related Serviced Whole Loan Intercreditor Agreement. If any AFR/Bank of America Portfolio Companion Loan Holder is the party proposing the modification, cancellation or termination of either AFR/Bank of America Portfolio Intercreditor Agreement, the Master Servicer or the Special Servicer shall require such AFR/Bank of America Portfolio Companion Loan Holder to pay the expenses and fees of obtaining the confirmation from the Rating Agencies and the expenses of the Master Servicer and the Special Servicer in providing information to the Rating Agencies in connection with obtaining such confirmation. In the event that the Master Servicer or the Special Servicer in accordance with the Servicing Standard proposes the modification, cancellation or termination of either AFR/Bank of America Portfolio Intercreditor Agreement, such expenses and fees of the Rating Agencies and expenses of the Master Servicer and the Special Servicer shall be paid by the Master Servicer as a Servicing Advance subject to reimbursement from the Trust Fund. 210
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Serviced Companion Loan Intercreditor Matters. 191 ARTICLE IV PAYMENTS TO CERTIFICATEHOLDERS AND RELATED MATTERS.......................................193 Section 4.01 Distributions...................................................................193
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Serviced Companion Loan Intercreditor Matters. 201 Section 3.31 Military Circle Control Rights...........................203 Section 3.32 Providence Biltmore Hotel Control Rights.................210 ARTICLE IV PAYMENTS TO CERTIFICATEHOLDERS AND RELATED MATTERS............216 Section 4.01 Distributions............................................216
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Serviced Companion Loan Intercreditor Matters. 212 Section 3.31 Xxxxx Center Control Rights........................... 213 Section 3.32 Outlets at Hershey Control Rights..................... 214 Section 3.33 Seven Springs Village Control Rights.................. 219 Section 3.34 Designation of the Class FNB Representative........... 224 Section 3.35 Reserved.............................................. 226 Section 3.36 Serviced Whole Loan Paying Agent...................... 226
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Serviced Companion Loan Intercreditor Matters. Section 3.32 Additional Matters with Respect to the Joint Loans.......... Section 3.33 Certain Additional Matters relating to the 1125 17th Street Whole Loan...........................................
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Related to Serviced Companion Loan Intercreditor Matters

  • Intercreditor Agreement Each Person that is secured hereunder, by accepting the benefits of the security provided hereby, (i) agrees (or is deemed to agree) that it will be bound by, and will take no actions contrary to, the provisions of any applicable Intercreditor Agreement; provided that such provisions are not in conflict with this Agreement, and (ii) authorizes (or is deemed to authorize) and instructs (or is deemed to instruct) the Collateral Trustee on behalf of such Person to enter into, and perform under, any applicable Intercreditor Agreement on terms that do not conflict with this Agreement. At the direction of the Company pursuant to an Officer’s Certificate, the Collateral Trustee agrees to enter into any Intercreditor Agreement or amendments or joinders to any Intercreditor Agreement, without the consent of any Priority Lien Secured Party, to add additional Indebtedness as Priority Lien Debt (to the extent permitted to be incurred and secured by the applicable Priority Lien Documents) and add other parties (or any authorized agent or trustee therefor) holding such Indebtedness thereto and to establish that the Lien on any Collateral securing such Indebtedness ranks equally with the Liens on such Collateral securing the other Priority Lien Debt then outstanding, subject to the terms of this Agreement, including Section 3.4. Notwithstanding anything to the contrary contained herein, to the extent that any Lien on any Collateral is perfected by the possession or control of such Collateral (including control over any account in which Collateral is held), and if such Collateral (or any such account) is in fact in the possession or under the control of an agent or bailee of the Collateral Trustee (including any Priority Lien Representative or its agents or bailees), the perfection actions and related deliverables described in this Agreement or the other Security Documents (i.e., the Security Documents other than the Security Document giving rise to such Lien, perfection and control) shall not be required. Notwithstanding anything to the contrary contained in this Agreement, to the extent of any conflict between this Agreement and any Intercreditor Agreement, the terms of this Agreement shall prevail.

  • Intercreditor Agreements The Lenders and the other Secured Parties hereby irrevocably authorize and instruct the Administrative Agent to, without any further consent of any Lender or any other Secured Party, enter into (or acknowledge and consent to) or amend, renew, extend, supplement, restate, replace, waive or otherwise modify (i) the Term Loan Intercreditor Agreement, (ii) any First Lien Intercreditor Agreement with the Senior Representative(s) of Indebtedness secured by a Lien permitted hereunder and intended to be pari passu with the Liens securing the Secured Obligations under this Agreement and (iii) any Second Lien Intercreditor Agreement with the Senior Representative(s) of the holders of Indebtedness secured by a Lien permitted hereunder and intended to be junior to the Liens securing the Secured Obligations under this Agreement. The Lenders and the other Secured Parties irrevocably agree that (x) the Administrative Agent may rely exclusively on a certificate of an Officer of the Borrower as to whether the Liens governed by such Intercreditor Agreement and the priority of such Liens as contemplated thereby are not prohibited and (y) any Intercreditor Agreement entered into by the Administrative Agent shall be binding on the Secured Parties, and each Lender and the other Secured Parties hereby agrees that it will take no actions contrary to the provisions of, if entered into and if applicable, any Intercreditor Agreement. The foregoing provisions are intended as an inducement to any provider of any secured Specified Indebtedness not prohibited by Section 6.01 or Section 6.02 hereof to extend credit to the Loan Parties and such persons are intended third-party beneficiaries of such provisions. Further, upon request of the Borrower, the Administrative Agent shall enter into, or amend, any Intercreditor Agreement to permit the incurrence of any Specified Indebtedness permitted to be secured by the Collateral hereunder.

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