Serviced Whole Loan Custodial Account definition

Serviced Whole Loan Custodial Account means the subaccount of the “Certificate Account” or other analogous term as defined in the Lead Securitization Servicing Agreement as more particularly described in the Lead Securitization Servicing Agreement.

Serviced Whole Loan Custodial Account. With respect to any Serviced Whole Loan, the respective segregated account or sub-account created and maintained by the Master Servicer pursuant to Section 3.05A of this Agreement on behalf of the holders of such Serviced Whole Loan, which (subject to any changes in the identities of the Master Servicer or the Trustee) shall be entitled “Midland Loan Services, a Division of PNC Bank, National Association, as Master Servicer on behalf of Wxxxx Fargo Bank, National Association, as Trustee, for the benefit of the registered Holders of CSAIL 2015-C3 Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2015-C3, and the related Companion Loan Holder, as their interests may appear.”

Serviced Whole Loan Custodial Account. With respect to any Serviced Companion Loan, the separate account created and maintained by the Companion Paying Agent pursuant to Section 3.04(b) and held on behalf of the Companion Holders, which shall be entitled “Xxxxx Fargo Bank, National Association, as Companion Paying Agent, for the benefit of the Companion Holders of the Companion Loans, relating to the GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2017-GS8, Serviced Whole Loan Custodial Account”. The Serviced Whole Loan Custodial Account shall not be an asset of the Trust or any Trust REMIC, but instead shall be held by the Companion Paying Agent on behalf of the Companion Holders. Any such account shall be an Eligible Account. Notwithstanding the foregoing, if the Master Servicer and the Companion Paying Agent are the same entity, the Serviced Whole Loan Custodial Account may be the subaccount referenced in the second paragraph of Section 3.04(b).

Examples of Serviced Whole Loan Custodial Account in a sentence

• The Lead Securitization Servicing Agreement shall provide that all amounts on deposit in the Serviced Whole Loan Custodial Account on a Remittance Date allocable under this Agreement to a Non-Lead Securitization Note Holder shall be deposited or credited on the Remittance Date for such Non-Lead Securitization by wire transfer of immediately available funds to an account specified by such Non-Lead Securitization Note Holder.

• As and when required under this Agreement, the Master Servicer shall transfer to the Collection Account any amounts to be transferred thereto from a Serviced Whole Loan Custodial Account as contemplated by Section 3.06A(a)(i) of this Agreement.

• The parties seeking payment pursuant to this Section shall each keep and maintain separate accounting for the purpose of justifying any request for withdrawal from each Serviced Whole Loan Custodial Account, on a loan-by-loan basis.

• It is a question of morality, and thus also of customs and upbringing.Here, bad examples have come to us from far and wide.

• The Special Servicer shall also be entitled to additional servicing compensation in the form of a Liquidation Fee (other than with respect to the Non-Serviced Mortgage Loans) payable out of the Liquidation Proceeds prior to the deposit of the Net Liquidation Proceeds in the Collection Account or the Serviced Whole Loan Custodial Account, as applicable.

More Definitions of Serviced Whole Loan Custodial Account

Serviced Whole Loan Custodial Account shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

Serviced Whole Loan Custodial Account. With respect to each Serviced Whole Loan, the account or accounts maintained by the Master Servicer pursuant to Section 3.04(f) on behalf of the Certificateholders and the related Serviced B Note Holders. Any such account or accounts shall be an Eligible Account.

Serviced Whole Loan Custodial Account. With respect to any Serviced Whole Loan, the respective segregated account or sub-account created and maintained by the Master Servicer pursuant to Section 3.05A of this Agreement on behalf of the holders of such Serviced Whole Loan, which (subject to any changes in the identities of the Master Servicer or the Trustee) shall be entitled “Xxxxx Fargo Bank, National Association, as Master Servicer on behalf of Deutsche Bank Trust Company Americas, as Trustee, for the benefit of the registered Holders of GS Mortgage Securities Corporation II, Commercial Mortgage Pass-Through Certificates, Series 2014-GC22, and the related Companion Loan Holder, as their interests may appear.”

Serviced Whole Loan Custodial Account are insufficient for reimbursement of such amounts, the Non-Lead Master Servicer will be required to reimburse each of the applicable Indemnified Parties for the Non-Lead Securitization Note Holder’s pro rata share of the insufficiency out of general collections in the collection account (or equivalent account) established under the Non-Lead Securitization Servicing Agreement;

Serviced Whole Loan Custodial Account. With respect to any Serviced Whole Loan, the respective segregated account or sub-account created and maintained by the Master Servicer pursuant to Section 3.05A of this Agreement on behalf of the holders of such Serviced Whole Loan, which (subject to any changes in the identities of the Master Servicer or the Trustee) shall be entitled “Xxxxx Fargo Bank, National Association, as Master Servicer on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of CSAIL 2015-C2 Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2015-C2, and the related Companion Loan Holder, as their interests may appear.”

Serviced Whole Loan Custodial Account means the account or subaccount (or collectively the accounts or subaccounts) established and maintained under the Lead Securitization Servicing Agreement in which payments and other collections of principal, interest and certain other amounts with respect to the Mortgage Loan are to be retained pending remittance to the Note Holders.

Serviced Whole Loan Custodial Account or “Loan Combination Custodial Account” (as each such term or any analogous term is defined in the applicable Outside Servicing Agreement) are insufficient for reimbursement of such amounts).