Examples of Serviced Companion Loan Securitization Agreement in a sentence
The parties hereby acknowledge that each holder of a Serviced Companion Loan (and any Servicer, Special Servicer and trustee of any Serviced Companion Loan Securitization Agreement) is a third party beneficiary hereof.
With respect to the Mortgage Loans related to the Serviced Whole Loans, the Master Servicer shall make its determination that it has made a Nonrecoverable Delinquency Advance or that any proposed Delinquency Advance, if made, would constitute a Nonrecoverable Delinquency Advance no later than the earlier of (i) the Delinquency Advance Date and (ii) the delinquency advance date for any related Serviced Companion Loan pursuant to the applicable Serviced Companion Loan Securitization Agreement.
The Master Servicer acknowledges that advancing coordination (including with respect to Property Advances relating to a Whole Loan) among the Master Servicer and the other master servicers under each Serviced Companion Loan Securitization Agreement with respect to a Serviced Pari Passu Companion Loan shall be conducted in the manner set forth in Section 4.07(f) of this Agreement and the applicable Co-Lender Agreement.
The foreign entity or group of associated entities that makes the investment is termed the "direct investor".
With respect to any Serviced Companion Loan, the trustee with respect to such Serviced Companion Loan appointed and acting under the related Serviced Companion Loan Securitization Agreement, if any.
Notwithstanding the foregoing, the Master Servicer shall continue to have the discretion (including if the master servicer under a Serviced Companion Loan Securitization Agreement determines that any advance of principal and/or interest with respect to a Serviced Pari Passu Companion Loan would be recoverable) provided in this Agreement to determine that any future P&I Advance or outstanding P&I Advance would be, or is, as applicable, a Nonrecoverable P&I Advance.
In the event that the Master Servicer obtains knowledge that it is no longer approved as a master servicer for commercial mortgage securitizations for either S&P or Fitch, it shall promptly notify the master servicer under each Serviced Companion Loan Securitization Agreement.
Upon receipt of such notice, the related "controlling class representative" (as defined in the related Serviced Companion Loan Securitization Agreement) or analogous party shall have the right, at its option, to purchase its respective Serviced Pari Passu Companion Loan from the trust established pursuant to the related Serviced Companion Loan Securitization Agreement for a price equal to the Option Price, determined in accordance with Section 3.18 hereof, with respect to such Serviced Companion Loan.
The parties hereby acknowledge that each holder of a Serviced Companion Loan (and any Servicer, Special Servicer and trustee of any Serviced Companion Loan Securitization Agreement) and each holder of a Serviced B Note is a third party beneficiary hereof.
With respect to the Mortgage Loans related to the Serviced Whole Loans, the Master Servicer shall make its determination that it has made a Nonrecoverable Delinquency Advance or that any proposed Delinquency Advance, if made, would constitute a Nonrecoverable Delinquency Advance in accordance with this Section 4.03(c) and independently of any determination made by any servicer of any related Serviced Companion Loan pursuant to a Serviced Companion Loan Securitization Agreement.