Servicer Watch List definition
Servicer Watch List. A report or reports setting forth, among other things, certain Mortgage Loans that (i) have experienced a decrease of at least 10% in debt service coverage from the previous reporting period (unless the Master Servicer shall have reasonably determined that such decrease is due to the seasonal nature or use of the related Mortgaged Property), (ii) have experienced a loss of or bankruptcy of the largest tenant (to the extent the Servicer has actual knowledge of such loss or bankruptcy) or (iii) are within six months of maturity.
Servicer Watch List. As of each Determination Date a report, including and identifying each Mortgage Loan that is not a Specially Serviced Mortgage Loan, satisfying the "CMSA Servicer Watch List" criteria approved from time to time by the CMSA and containing the information called for therein.
Servicer Watch List. As defined in Section 4.02(b).
Examples of Servicer Watch List in a sentence
The Master Servicer shall list any Mortgage Loan on the CREFC® Servicer Watch List as to which any of the events specified in the CREFC® Servicer Watch List published by the CREFC® for industry use has occurred.
The Master Servicer shall list any Mortgage Loan on the CREFC Servicer Watch List as to which any of the events specified in the CREFC Servicer Watch List published by the CREFC for industry use has occurred.
The Master Servicer shall list any Mortgage Loan on the Servicer Watch List as to which any of the events specified in the CMSA Watch List published by the CMSA for industry use has occurred.
The Delinquent Loan Status Report, the Historical Loan Modification Report, the Historical Liquidation Report and the REO Status Report are referred to herein as the "Unrestricted Servicer Reports" and the Servicer Watch List, the NOI Adjustment Worksheet, the Comparative Financial Status Report, and the Operating Statement Analysis are referenced to herein as the "Restricted Servicer Reports".
As soon as reasonably practicable after the implementation date recommended by the CMSA in conjunction with the publication of the CMSA Watch List for industry use, the Master Servicer shall use such report instead of the Servicer Watch List described above, but in any event, agrees to use such report within 3 months after such recommended implementation date.
More Definitions of Servicer Watch List
Servicer Watch List. A report prepared by the Master Servicer containing the information described in Exhibit P attached hereto, setting forth, among other things, a description of any Mortgage Loan that, as of the Determination Date immediately preceding the preparation of such report, is in jeopardy of becoming a Specially Serviced Mortgage Loan.
Servicer Watch List means a report in CMSA format (in effect as of the date hereof) prepared by the Servicer containing substantially the information specified in the form of "servicer watch list" produced by the CMSA. The form of such report is specified by the CMSA and can be accessed on the CMSA internet website at ▇▇▇.▇▇▇▇.▇▇▇.
Servicer Watch List means for any Determination Date, a report substantially in the form of, and containing the information called for in, the downloadable form of the "Servicer Watch List" available as of the Closing Date on the CMSA Website, or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally and, insofar as it requires the presentation of information in addition to that called for by the form of the "Servicer Watch List" available as of the Closing Date on the CMSA Website, is reasonably acceptable to the Master Servicers or the Special Servicers, as applicable.
Servicer Watch List. A report or reports setting forth, among other things, certain Mortgage Loans or Loan Groups (i) that have experienced a decrease of at least 10% in debt service coverage from the previous reporting period (unless the Master Servicer shall have reasonably determined that such decrease is due to the seasonal nature or use of the related Mortgaged Property), (ii) that have experienced a loss of or bankruptcy of the largest tenant (to the extent the Servicer has actual knowledge of such loss or bankruptcy), (iii) that are within six months of maturity, (iv) that are Specified Debt Service Reserve Loans which have had their Monthly Payment paid out of a debt service reserve for two consecutive Due Dates, (v) that are Specified Letter of Credit Loans or Specified Debt Service Reserve Loans as to which the conditions for release of the related letter of credit or debt service reserve, as the case may be, have been satisfied, provided that such Specified Letter of Credit Loans and Specified Debt Service Reserve Loans shall be included on the Servicer Watch List for the month of such release and, at a minimum, the two months following such release, (vi) for which any lease relating to the largest tenant of the related Mortgaged Property has expired, been terminated or is in default (to the extent the Master Servicer has actual knowledge of such expiration, termination or default), or (vii) where there has been a decrease in the occupancy of the related Mortgaged Property of 10% or more from the original underwritten occupancy level, (unless the Master Servicer shall have reasonably determined that such decrease is due to the seasonal nature or use of the related Mortgaged Property).
Servicer Watch List. A report or reports setting forth, among other things, certain Mortgage Loans (i) that have experienced a decrease of at least 10% in debt service coverage from the previous reporting period (unless the Master Servicer shall have reasonably determined that such decrease is due to the seasonal nature or use of the related Mortgaged Property), (ii) that have experienced a loss of or bankruptcy of the largest tenant (to the extent the Servicer has actual knowledge of such loss or bankruptcy), (iii) that are within six months of maturity, (iv) that are Specified Debt Service Reserve Loans which have had their Monthly Payment paid out of a debt service reserve for two consecutive Due Dates, or (v) that are Specified Letter of Credit Loans or Specified Debt Service Reserve Loans as to which the conditions for release of the related letter of credit or debt service reserve, as the case may be, have been satisfied, provided that such Specified Letter of Credit Loans and Specified Debt Service Reserve Loans shall be included on the Servicer Watch List for the month of such release and, at a minimum, the two months following such release.
Servicer Watch List means, for any Determination Date, a report (substantially in the form of Exhibit R attached hereto) of all Mortgage Loans, other than Specially Serviced Mortgage Loans, that constitute one of the following types of Mortgage Loans as of such Determination Date: (i) a Mortgage Loan that has a then current 12-months trailing or fiscal year-end Debt Service Coverage Ratio that is less than 1.05x; (ii) a Mortgage Loan as to which any required inspection of the related Mortgaged Property conducted by the Master Servicer indicates a problem that the Master Servicer determines can reasonably be expected to materially adversely affect the cash flow generated by such Mortgaged Property; (iii) a Mortgage Loan as to which the Master Servicer has actual knowledge of material damage or waste at the related Mortgaged Property; (iv) a Mortgage Loan as to which it has come to the Master Servicer's attention in the performance of its duties under this Agreement (without any expansion of such duties by reason thereof) that any tenant or collective group of tenants occupying 25% or more of the space in the related Mortgaged Property (A) has vacated or intends to vacate such space (without being replaced by a comparable tenant and lease) or (B) has declared or intends to declare bankruptcy; or (C) is or are within six (6) months of its or their respective lease expiration dates; (v) a Mortgage Loan that is at least 30 days delinquent in payment; and (vi) a Mortgage Loan that is within 60 days of maturity.
Servicer Watch List. As of each Determination Date a report, in the "CMSA Servicer Watch List" format presented from time to time by the CMSA and containing the information called for therein. Until the content of such report is presented by the CMSA, such report, a current form of which is attached hereto as Exhibit M-14, shall include and identify each Mortgage Loan that is not a Specially Serviced Mortgage Loan (i) with a Debt Service Coverage Ratio of less than 1.05x, other than Mortgage Loans whose operations results for the first year of operations represent less than seven months of operating history, (ii) that has a Stated Maturity Date occurring in the next ninety days, (iii) that is delinquent in respect of its real estate taxes, (iv) for which any outstanding Advance exists and has been outstanding for 30 days or more, (v) that has been a Specially Serviced Mortgage Loan in the past 90 days, (vi) for which the Debt Service Coverage Ratio has decreased by more than 10% in the prior 12 months and is less than 1.40x, (vii) for which any lease relating to more than 25% of the rentable area of the related Mortgaged Property has expired, been terminated, is in default or will expire within the next three months (without being replaced by one or more tenants or leases), (viii) that is late in making its Monthly Payment three or more times in the preceding twelve months, (ix) with material deferred maintenance at the related Mortgaged Property or (x) that is 30 or more days delinquent; provided that a Mortgage Loan will not be identified on the Watch List solely because the related Mortgagor has failed to deliver operating statements, rent rolls or other financial statements required to be delivered under the Mortgage Loan documents.