Examples of Subsequent Master Servicer in a sentence
Each of the Master Servicer and the Special Servicer acknowledges that upon the securitization of a Serviced Pari Passu Companion Loan, the Subsequent Trustee will be the owner of such Mortgage Note and that, pursuant to the Subsequent PSA, the Subsequent Master Servicer will be entitled to enforce the rights of the Subsequent Trustee with respect to such Loan under the related Co-Lender Agreement and this Agreement.
Title 49 USC § 50101The Contractor agrees to comply with 49 USC § 50101, which provides that Federal funds may not be obligated unless all steel and manufactured goods used in AIP funded projects are produced in the United States, unless the Federal Aviation Administration has issued a waiver for the product; the product is listed as an Excepted Article, Material Or Supply in Federal Acquisition Regulation subpart 25.108; or is included in the FAA Nationwide Buy American Waivers Issued list.
First Distribution Date: November 25, 1998 Subsequent Master Servicer: Litton Loan No. 1 Servicing LP Trustee: The Chase Manhattan Bank Closing Date: October 30, 1998 CUSIP: DISTRIBUTIONS IN REDUCTION OF THE CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE MAY BE MADE MONTHLY AS SET FORTH HEREIN.
Any Subsequent Master Servicer, Subsequent Trustee and Subsequent Fiscal Agent shall be a third party beneficiary to this Agreement solely with respect to the recoverability of any back-up P&I Advances pursuant to Section 3.05A, and to the extent required under the related Co-Lender Agreement.
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Nothing contained in this Agreement shall be construed to mean that the Subsequent Master Servicer is assuming liability for any action taken (or not taken) by the Initial Master Servicer as Master Servicer.
If the Master Servicer has received notice that a Subsequent Master Servicer no longer has Rating Agency Approval, then the Master Servicer shall not be required to abide by any determination of nonrecoverability by such Subsequent Master Servicer.
After the Master Servicing Transfer Date, the Subsequent Master Servicer shall assume and hereby agrees to assume the rights and obligations of the Master Servicer under this Agreement from the Initial Master Servicer.
If the Trustee or the Master Servicer has received notice from Fitch and Moody's that the Master Servicer no xxxxxx has Rating Agency Approval, then such party shall promptly notify the other, the Special Servicer and the applicable Lead Master Servicer or Subsequent Master Servicer of the same.
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