Special Servicer Decision definition

Special Servicer Decision. With respect to any Serviced Loan or Serviced Loan Combination, any of the following (to the extent it is not a Major Decision):

Special Servicer Decision. Collectively:

Special Servicer Decision. Any of the following with respect to a Non-WFB Mortgage Loan:

Examples of Special Servicer Decision in a sentence

• With respect to any Performing Serviced Loan, the Master Servicer, without the consent or consultation of the Special Servicer, the Operating Advisor and/or the Directing Holder, shall process and determine whether to consent to or approve any request by the related Mortgagor with respect to any action that is not (1) a Major Decision, (2) a Special Servicer Decision or (3) an action with respect to which the Special Servicer’s consent is required pursuant to Section 3.09 of this Agreement.

• With respect to any Performing Serviced Loan that is a PrinREI-Subserviced Loan, the Master Servicer shall process any modification, waiver, amendment, consent or other action that constitutes a Major Decision or Special Servicer Decision subject to the consent of the Special Servicer as set forth below.

• The Master Servicer shall not be permitted to process any Special Servicer Decision or Major Decision and shall not be required to interface with the Mortgagor or provide a written recommendation and analysis with respect to any Special Servicer Decision or Major Decision.

• The Master Servicer shall not be permitted to process any such Major Decision or Special Servicer Decision and shall not be required to interface with the Mortgagor or provide a written recommendation and/or analysis with respect to any such Major Decision or Special Servicer Decision.

• With respect to such request, the Master Servicer shall continue to cooperate with the Special Servicer by delivering any additional information in the Master Servicer’s possession to the Special Servicer requested by the Special Servicer relating to such Special Servicer Decision or Major Decision.

More Definitions of Special Servicer Decision

Special Servicer Decision. With respect to any Mortgage Loan:

Special Servicer Decision. Any of the following:

Special Servicer Decision or “Material Action”, as applicable) with respect to a Performing Serviced Mortgage Loan that is a Non-WFB Mortgage Loan or a related Performing Serviced Pari Passu Companion Loan, the applicable Master Servicer shall forward such request to the applicable Special Servicer and, unless the applicable Master Servicer and the applicable Special Servicer mutually agree that the applicable Master Servicer shall process such request, the applicable Special Servicer shall process such request and the applicable Master Servicer shall have no further obligation with respect to such request or such Special Servicer Decision or Material Action. Notwithstanding the foregoing, in no event will the applicable Master Servicer’s approval of an assignment and assumption or further encumbrance be conditioned on the approval or absence of objection from the applicable Special Servicer (or the applicable Special Servicer interacting with the Subordinate Class Representative in connection with such Master Servicer approval) or (solely in the case of an approval of a further encumbrance of a Mortgaged Property securing a Co-op Mortgage Loan) the need to obtain a Rating Agency Confirmation if either (x) the NCB, FSB Subordinate Debt Conditions have been met with respect to a Co-op Mortgage Loan or (y)(a) the transaction is permitted under the related Mortgage Loan Documents and (b) the conditions to the transaction that are set forth in the related Mortgage Loan Documents do not include the approval of the lender or the exercise of lender discretion (other than confirming the satisfaction of the other conditions to the transaction set forth in the related Mortgage Loan Documents that do not include any other approval or exercise of discretion). Notwithstanding the foregoing, and regardless of whether a particular Co-op Mortgage Loan contains specific provisions regarding the incurrence of subordinate debt, or prohibits the incurrence of subordinate debt, or requires the consent of the Mortgagee in order to incur subordinate debt, the NCB Master Servicer may, nevertheless, in accordance with the Servicing Standard, without the need to obtain any consent or approval hereunder (and without the need to obtain a Rating Agency Confirmation), permit the related Borrower to incur subordinate debt if the NCB, FSB Subordinate Debt Conditions have been met; provided that, subject to the related Mortgage Loan Documents and applicable law, the NCB Master Servicer shall not waive any right it...

Special Servicer Decision. With respect to any Serviced Loan or Serviced Whole Loan, any decision or Mortgagor request that is not a Major Decision or a Master Servicer Decision.

Special Servicer Decision or “Material Action”, as applicable), the Primary Servicer shall forward such request to the Master Servicer (to be processed by the Master Servicer or the Special Servicer as contemplated by Section 3.08 of the Pooling and Servicing Agreement) and the Primary Servicer shall have no further obligation with respect to such request or such Special Servicer Decision or Material Action. With respect to any assumption, transfer or other action contemplated by Section 3.08 (other than a Special Servicer Decision or a Material Action), the Primary Servicer shall perform and forward to the Master Servicer any analysis, recommendation or other information required to be prepared and/or delivered by the Master Servicer under Section 3.08. The Master Servicer, not the Primary Servicer, will deal directly with the Special Servicer in connection with obtaining any necessary approval or consent from the Special Servicer. If the Master Servicer consents to any such assumption, transfer or other action (other than a Special Servicer Decision or a Material Action), the Primary Servicer shall close such transaction in compliance with all requirements and conditions of Section 3.08.

Special Servicer Decision. As defined in the PSA.

Special Servicer Decision or “Material Action”, as applicable) with respect to a Performing Serviced Mortgage Loan or a Performing Serviced Pari Passu Companion Loan, the applicable Master Servicer shall forward such request to the applicable Special Servicer and, unless such Master Servicer and such Special Servicer mutually agree that such Master Servicer shall process such request, the applicable Special Servicer shall process such request and such Master Servicer shall have no further obligation with respect to such request or such Special Servicer Decision or Material Action.