Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR and Class K-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement. (b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires: (i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender; (ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 8 contracts
Sources: Pooling and Servicing Agreement (Bank 2020-Bnk26), Pooling and Servicing Agreement (Benchmark 2020-B16 Mortgage Trust), Pooling and Servicing Agreement (Bank 2019-Bnk24)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Non-Vertically Retained Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Non-Vertically Retained Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F-RR, Class G, Class H, Class J-RR and Class KJ-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Non-Vertically Retained Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-4, Class A-5 and Class A-AB Certificates are the only Classes of Non-Vertically Retained Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Non-Vertically Retained Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 8 contracts
Sources: Pooling and Servicing Agreement (Benchmark 2019-B13 Mortgage Trust), Pooling and Servicing Agreement (UBS Commercial Mortgage Trust 2019-C17), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2019-Gc42)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E-RR, Class F-RR, Class G, Class H, Class J-RR and Class KJ-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, A-3 and Class A-4 and Class A-AB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB A-4 and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 7 contracts
Sources: Pooling and Servicing Agreement (BMO 2025-5c10 Mortgage Trust), Pooling and Servicing Agreement (Benchmark 2025-V14 Mortgage Trust), Pooling and Servicing Agreement (BMO 2025-5c9 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Certificates or Class EC Regular Certificates Interests outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates or Class EC Regular Certificates Interest then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class FF and Class G Certificates and the Class A-S, Class G, Class H, Class J-RR B and Class K-RR CertificatesC Regular Interests; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1▇-▇, Class A-2▇▇▇▇▇ ▇-▇, Class A-3, Class A-4, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S R Certificates and, for purposes of receiving Yield Maintenance Charges, the Class X-B Certificates) and Class R Certificates) EC Regular Interest shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 7 contracts
Sources: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-P4), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2016-C34), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-Gc37)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR F and Class K-RR G Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Regular Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been (and, in the case of a Class of Exchangeable Certificates, assuming the maximum related Certificate Balance had been issued on the Closing Date and no exchanges in accordance with Section 5.13 subsequently occurred, would not otherwise have been) reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 7 contracts
Sources: Pooling and Servicing Agreement (UBS Commercial Mortgage Trust 2017-C1), Pooling and Servicing Agreement (CD 2017-Cd4 Mortgage Trust), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2017-P7)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-DC, Class X-F, Class X-G, Class X-HD, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR F and Class K-RR G Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Regular Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been (and, in the case of a Class of Exchangeable Certificates, assuming the maximum related Certificate Balance had been issued on the Closing Date and no exchanges in accordance with Section 5.13 subsequently occurred, would not otherwise have been) reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 7 contracts
Sources: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2017-P8), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2017-Gs6), Pooling and Servicing Agreement (CD 2017-Cd4 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3A-4, Class A-4A-5, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR and Class KJ-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3A-4, Class A-4 A-5 and Class A-AB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3A-4, Class A-4A-5, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 6 contracts
Sources: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2020-Gsa2), Pooling and Servicing Agreement (Benchmark 2020-B21 Mortgage Trust), Pooling and Servicing Agreement (JPMDB Commercial Mortgage Securities Trust 2020-Cor7)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Non-Uncertificated VRR Retained Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Non-Uncertificated VRR Retained Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class X-J, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR H and Class K-RR J Certificates; provided, however, that for purposes of determining the most subordinate Class of Non-Uncertificated VRR Retained Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-4, Class A-5 and Class A-AB Certificates are the only Classes of Non-Uncertificated VRR Retained Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Non-Uncertificated VRR Retained Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 6 contracts
Sources: Pooling and Servicing Agreement (BMO 2022-C3 Mortgage Trust), Pooling and Servicing Agreement (BMO 2022-C2 Mortgage Trust), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2022-Gc48)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Certificates or Class EC Regular Certificates Interests outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates or Class EC Regular Certificates Interest then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class GG and Class H Certificates and the Class A-S, Class H, Class J-RR B and Class K-RR CertificatesC Regular Interests; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-4, Class A-5 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S R Certificates and, for purposes of receiving Yield Maintenance Charges, the Class X-A Certificates) and Class R Certificates) EC Regular Interest shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 6 contracts
Sources: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-P4), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-C1), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-Gc37)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1A-▇, Class A-2▇▇▇▇▇ ▇-▇, Class A-3-1, Class A-3-2, Class A-4-1, Class A-4-2, Class A-5, Class A-ABSB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class X-J, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR H and Class K-RR J Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3-1, Class A-4 A-3-2, Class A-4-1, Class A-4-2, Class A-5 and Class A-AB SB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3-1, Class A-3-2, Class A-4-1, Class A-4-2, Class A-5, Class A-AB SB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 6 contracts
Sources: Pooling and Servicing Agreement (BMO 2022-C3 Mortgage Trust), Pooling and Servicing Agreement (BMO 2022-C2 Mortgage Trust), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2022-Gc48)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR and Class KJ-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-4, Class A-5 and Class A-AB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 6 contracts
Sources: Pooling and Servicing Agreement (Benchmark 2019-B14 Mortgage Trust), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2019-C7), Pooling and Servicing Agreement (Benchmark 2019-B15 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interests outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interest then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class GG and Class H Certificates and the Class A-S, Class H, Class J-RR B and Class K-RR CertificatesC Regular Interests; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB AB, Class X-A and Class X-A B Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S Certificates, the Class R Certificates and, for purposes of receiving Yield Maintenance Charges, the Class X-B Certificates) and Class R Certificates) PEZ Regular Interest shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 6 contracts
Sources: Pooling and Servicing Agreement (Benchmark 2021-B23 Mortgage Trust), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2015-Gc32), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2015-Gc29)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-E, Class X-F, Class X-G, Class X-HNR, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR F and Class K-RR NR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB A Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB A Certificates and the Class X-A Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Regular Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Principal Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 5 contracts
Sources: Pooling and Servicing Agreement (CSAIL 2016-C6 Commercial Mortgage Trust), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2015-Ubs8), Pooling and Servicing Agreement (CSAIL 2015-C3 Commercial Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-E, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR F and Class K-RR G Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2▇-▇, Class A-3▇▇▇▇▇ ▇-▇, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been (and, in the case of a Class of Exchangeable Certificates, assuming the maximum related Certificate Balance had been issued on the Closing Date and no exchanges in accordance with Section 5.13 subsequently occurred, would not otherwise have been) reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 5 contracts
Sources: Pooling and Servicing Agreement (CD 2017-Cd6 Mortgage Trust), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2017-C4), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2017-C34)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F-RR, Class G, Class H-RR, Class J-RR and Class KNR-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 5 contracts
Sources: Pooling and Servicing Agreement (Benchmark 2018-B8 Mortgage Trust), Pooling and Servicing Agreement (Benchmark 2018-B7 Mortgage Trust), Pooling and Servicing Agreement (DBGS 2018-C1 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR and Class KJ-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-4, Class A-5 and Class A-AB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 5 contracts
Sources: Pooling and Servicing Agreement (COMM 2019-Gc44 Mortgage Trust), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2019-Gc43), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2019-Gc42)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Non-Vertically Retained Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Non-Vertically Retained Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3A-4A1, Class A-4A-4A2, Class A-5, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR G and Class K-RR H Certificates; provided, however, that for purposes of determining the most subordinate Class of Non-Vertically Retained Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3A-4A1, Class A-4 A-4A2, Class A-5 and Class A-AB Certificates are the only Classes of Non-Vertically Retained Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3A-4A1, Class A-4A-4A2, Class A-5, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Non-Vertically Retained Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 5 contracts
Sources: Pooling and Servicing Agreement (Benchmark 2021-B26 Mortgage Trust), Pooling and Servicing Agreement (Benchmark 2021-B25 Mortgage Trust), Pooling and Servicing Agreement (Benchmark 2021-B24 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Certificates or Grantor Trust-Held Regular Certificates Interest outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates or Grantor Trust-Held Regular Certificates Interest then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class X-D, Class E, Class F, Class GG and Class H Certificates and the Class E-1, Class HE-2, Class J-RR F-1, Class F-2, Class G-1, Class G-2, Class H-1 and Class K-RR CertificatesH-2 Regular Interests; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S Certificates and the Class R Certificates) and Grantor Trust-Held Regular Interest shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2016-P5), Pooling and Servicing Agreement (JPMCC Commercial Mortgage Securities Trust 2016-Jp3), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2016-Lc24)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR G and Class K-RR H Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-4, Class A-5 and Class A-AB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2020-Gsa2), Pooling and Servicing Agreement (Benchmark 2020-B21 Mortgage Trust), Pooling and Servicing Agreement (Benchmark 2020-B20 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-E, Class X-F, Class X-G, Class X-HNR, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR F and Class K-RR NR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB A Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, A Certificates and the Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A X Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Regular Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Principal Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (CSAIL 2015-C3 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C2 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C1 Commercial Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR and Class K-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-4, Class A-5 and Class A-AB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Benchmark 2021-B28 Mortgage Trust), Pooling and Servicing Agreement (Benchmark 2020-B17 Mortgage Trust), Pooling and Servicing Agreement (Benchmark 2021-B27 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR J and Class K-RR K Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB A Certificates are the only Classes Class of Pooled Principal Balance Certificates outstandingoutstanding (other than the Class X, Class Q, Class LR or Class R Certificates), the Class A-1, A Certificates and the Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A X Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S Q, Class LR and Class R Certificates) Certificates shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero; provided, however, that notwithstanding the foregoing, solely for the purpose of distributing Excess Interest in accordance with the terms and priorities set forth in Section 4.01(e), any Class of Certificates entitled to distributions of Excess Interest shall continue to be deemed to be outstanding for so long as the Mortgage Loans with respect to which such Class is entitled to distributions of Excess Interest received therefrom (as set forth in Section 4.01(e)) remain outstanding. For purposes of this Agreement, the Class Q Certificates shall be deemed to be outstanding so long as there are any Certificates outstanding, and the Class R and Class LR Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement9.01.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Gs Mortgages Sec Corp Ii Com Mort Pas THR Cert Ser 1998-C1), Pooling and Servicing Agreement (Gs Mortgages Sec Corp Ii Com Mort Pas THR Cert Ser 1998-C1), Pooling and Servicing Agreement (Gs Mortgages Sec Corp Ii Com Mort Pas THR Cert Ser 1998-C1)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class X-J, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR H and Class K-RR J Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-4, Class A-5 and Class A-AB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Benchmark 2019-B10 Mortgage Trust), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2019-Gc38), Pooling and Servicing Agreement (Benchmark 2019-B9 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interests outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interest then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class FF and Class G Certificates and the Class A-S, Class G, Class H, Class J-RR B and Class K-RR CertificatesC Regular Interests; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-4, Class A-5 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S R Certificates and, for purposes of receiving Yield Maintenance Charges, the Class X-A Certificates) and Class R Certificates) PEZ Regular Interest shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-Nxs3), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2015-Gc33), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2015-P1)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3A-4, Class A-4A-5, Class A-ABSB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class X-D, Class X-E, Class D, Class E, Class F-RR, Class XFRR, Class G-RR, Class HXGRR, Class J-RR and Class K-RR XJRR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3A-4, Class A-4 A-5 and Class A-AB SB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3A-4, Class A-4A-5, Class A-AB SB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (BMO 2023-C6 Mortgage Trust), Pooling and Servicing Agreement (BBCMS 2023-C20), Pooling and Servicing Agreement (BMO 2023-C4 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-ABSB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class X-D, Class D, Class E-RR, Class F-RR, Class G, Class H, Class J-RR and Class KJ-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-4, Class A-5 and Class A-AB SB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2A 1, Class A-3, Class A-4, Class A-5 and Class A-AB and Class X-A SB Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (BMO 2023-C7 Mortgage Trust), Pooling and Servicing Agreement (BBCMS Mortgage Trust 2024-C30), Pooling and Servicing Agreement (BMO 2024-C10 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreementthe definitions of "Minimum Defaulted Monthly Payment", "Special Servicing Fee", Section 3.19, Section 3.12, Section 3.25, Section 3.30 and Section 4.06(d), references to the most or next most subordinate Class of Pooled Certificates (or Lower-Tier Regular Certificates Interests) outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates (or Lower-Tier Regular Certificates Interests) then outstanding as among the Class A-1A-1A, Class A-1B, Class A-1C, Class A-1D, Class A-CS1, Class PS-1, Class A-1E, Class A-2, Class A-3, Class A-4, Class A-ABA-5, Class X-AA-6, Class X-BA-7, Class X-DB-1, Class X-FB-2, Class X-GB-3, Class XB-4, Class B-5, Class B-6, Class B-7 and Class B-7H Certificates (and the Classes of Related Lower-HTier Regular Interests, and shall expressly not include the Class A-8Z Certificates or the Class B-3SC Certificates (or Related Lower-Tier Regular Interests)). For such purposes, the Class B-7 and Class B-7H Certificates (and the Classes of Related Lower-Tier Regular Interests) together shall be considered to be one Class and the Class A-1A, Class A-1B, Class A-1C, Class A-1D, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR CS1 and Class K-RR Certificates; provided, however, that for purposes of determining PS-1 Certificates (and the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class ARelated Lower-AB and Class X-A Certificates together will Tier Regular Interests) collectively shall be treated as the most subordinate Class of Pooled Regular Certificatesconsidered to be one Class. For purposes of this Agreement, each Class of Certificates (other than the Class S V-1, Class V-2, Class LR and Class R Certificates) Certificates shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class V-1 Certificates shall be deemed to be outstanding so long as there are any Notes outstanding, the Class V-2 Certificates shall be deemed outstanding so long as there are any Notes outstanding that provide for the payment of Excess Interest, the Class B-7H Certificates and the Class B-7H-L Interest shall be deemed to be outstanding so long as there are any Notes outstanding that provide for payments of Prepayment Premiums in connection with voluntary or involuntary prepayments and the Class R and Class LR Certificates shall be deemed to be outstanding so long as the Trust REMICs have Fund has not been terminated pursuant to Section 9.01 of this Agreement.
(b) 9.01. For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, Class A-CS1 and the use of any gender herein Class PS-1 Certificates shall be deemed to include the other gender;
(ii) references herein be outstanding until their respective Notional Balances have been reduced to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;zero.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Asset Securitization Corp Series 1997-D5), Pooling and Servicing Agreement (Asset Securitization Corp Series 1997-D5)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR F and Class K-RR G Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Sequential Pay Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Regular Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
(iii) a reference to a Subsection without further reference to a Section is a reference to such Subsection as contained in the same Section in which the reference appears, and this rule shall also apply to Paragraphs and other subdivisions;
(iv) the words “herein”, “hereof”, “hereunder”, “hereto”, “hereby” and other words of similar import refer to this Agreement as a whole and not to any particular provision; and
(v) the terms “include” or “including” shall mean without limitation by reason of enumeration.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2012-Gc8), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2012-Gc8)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class X-D, Class X-F, Class D, Class E, Class F, Class G, Class H, Class J-RR and Class KJ-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-2 and Class A-AB A-3 Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB A-2 and Class X-A A-3 Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (BMO 2025-5c12 Mortgage Trust), Pooling and Servicing Agreement (BMO 2025-5c12 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interests outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interest then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-DC, Class X-F, Class X-G, Class X-HD, Class A-S, Class B, Class C, Class D, Class E, Class F, Class GG and Class H Certificates and the Class A-S, Class H, Class J-RR B and Class K-RR CertificatesC Regular Interests; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates (other than the Class X and Class R Certificates) outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB AB, Class X-A, Class X-B, Class X-C and Class X-A D Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) and Class PEZ Regular Interest shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2014-Gc21), Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc20)
Certain Constructions. (a) For purposes of this Agreementthe definitions of "Minimum Defaulted Monthly Payment", "Special Servicing Fee", Section 3.19, Section 3.12, Section 3.25, Section 3.30 and Section 4.06(d), references to the most or next most subordinate Class of Pooled Certificates (or Lower-Tier Regular Certificates Interests) outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates (or Lower-Tier Regular Certificates Interests) then outstanding as among the Class A-1A-1A, Class A-1B, Class A-1C, Class A-1D, Class A-CS1, Class PS-1, Class A-1E, Class A-2, Class A-3, Class A-4, Class A-ABA-5, Class X-AA-6, Class X-BA-7, Class X-DA-8, Class X-FB-1, Class X-GB-2, Class XB-3, Class B-4, Class B-5, Class B-6, Class B-7 and Class B-7H Certificates (and the Classes of Related Lower-HTier Regular Interests). For such purposes, the Class B-7 and Class B-7H Certificates (and the Classes of Related Lower-Tier Regular Interests) together shall be considered to be one Class and the Class A-1A, Class A-1B, Class A-1C, Class A-1D, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR CS1 and Class K-RR Certificates; provided, however, that for purposes of determining PS-1 Certificates (and the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class ARelated Lower-AB and Class X-A Certificates together will Tier Regular Interests) collectively shall be treated as the most subordinate Class of Pooled Regular Certificatesconsidered to be one Class. For purposes of this Agreement, each Class of Certificates (other than the Class S V-1, Class V-2, Class LR and Class R Certificates) Certificates shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class V-1 Certificates shall be deemed to be outstanding so long as there are any Notes outstanding, the Class V-2 Certificates shall be deemed outstanding so long as there are any Notes outstanding that provide for the payment of Excess Interest, the Class B-7H Certificates and the Class B-7H-L Interest shall be deemed to be outstanding so long as there are any Notes outstanding that provide for payments of Prepayment Premiums in connection with voluntary or involuntary prepayments and the Class R and Class LR Certificates shall be deemed to be outstanding so long as the Trust REMICs have Fund has not been terminated pursuant to Section 9.01 of this Agreement.
(b) 9.01. For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, Class A-CS1 and the use of any gender herein Class PS-1 Certificates shall be deemed to include the other gender;
(ii) references herein be outstanding until their respective Notional Balances have been reduced to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;zero.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Asset Securitization Corp Comm Mort Pass THR Cer Ser 1997-D4), Pooling and Servicing Agreement (Asset Securitization Corp Comm Mort Pass THR Cer Ser 1997-D4)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interests outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interest then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB, Class X-A, Class X-B, Class X-DE, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class GG and Class H Certificates and the Class A-S, Class H, Class J-RR B and Class K-RR CertificatesC Regular Interests; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-4, Class A-5 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB AB, Class X-A, Class X-B, Class X-E, Class X-F and Class X-A H Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S Certificates, Class R Certificates and, for purposes of receiving Yield Maintenance Charges, other than the Class X-B Certificates) and Class R Certificates) PEZ Regular Interest shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2015-C27), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2015-Gc27)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interests outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interest then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-DC, Class X-F, Class X-G, Class X-HD, Class A-S, Class B, Class C, Class D, Class E, Class FF and Class G Certificates and the Class A-S, Class G, Class H, Class J-RR B and Class K-RR CertificatesC Regular Interests; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB AB, Class X-A, Class X-B, Class X-C and Class X-A D Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) and Class PEZ Regular Interest shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc22), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2014-Gc19)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class X-D, Class D, Class E-RR, Class F-RR, Class G, Class H, Class J-RR and Class KJ-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-2 and Class A-AB A-3 Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB A-2 and Class X-A A-3 Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Benchmark 2024-V11 Mortgage Trust), Pooling and Servicing Agreement (BMO 2024-5c7 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interests outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interest then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-E, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class FF and Class G Certificates and the Class A-S, Class G, Class H, Class J-RR B and Class K-RR CertificatesC Regular Interests; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB AB, Class X-A, Class X-B, Class X-D, Class X-E, Class X-F and Class X-A G Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S R Certificates and, for purposes of receiving Yield Maintenance Charges, other than the Class X-B Certificates) and Class R Certificates) PEZ Regular Interest shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (GS Mortgage Securities Trust 2014-Gc26), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2014-Gc25)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-DE, Class X-F, Class X-G, Class X-HNR, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR F and Class K-RR NR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB A Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, A Certificates and the Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A X Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Regular Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Principal Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (CSAIL 2015-C3 Commercial Mortgage Trust), Pooling and Servicing Agreement (CSAIL 2015-C2 Commercial Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1▇-▇, Class A-2, Class A-3, Class A-4, Class A▇▇▇▇▇ ▇-AB▇, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR F and Class K-RR CertificatesG Certificates and the Class M and Class MX Certificates shall not be considered senior or subordinate to any other Class of Certificates for such purposes herein; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB A Certificates are the only Classes Class of Pooled Principal Balance Certificates outstandingoutstanding (other than the Class X, Class Q, Class LR or Class R Certificates), the Class A-1, A Certificates and the Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A X Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S Q, Class LR and Class R Certificates) Certificates shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero; provided, however, that notwithstanding the foregoing, solely for the purpose of distributing Excess Interest in accordance with the terms and priorities set forth in Section 4.01(e), any Class of Certificates entitled to distributions of Excess Interest shall continue to be deemed to be outstanding for so long as the Mortgage Loans with respect to which such Class is entitled to distributions of Excess Interest received therefrom (as set forth in Section 4.01(e)) remain outstanding. For purposes of this Agreement, the Class Q Certificates shall be deemed to be outstanding so long as there are any Certificates outstanding, the Class M and Class MX Certificates shall be deemed to be outstanding so long as the Marriott Desert Springs Parent Loan is outstanding, and the Class R and Class LR Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement9.01.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Commercial Mortgage Pass Through Cert Series 1998 Gl Ii), Pooling and Servicing Agreement (Commercial Mortgage Pass Through Cert Series 1998 Gl Ii)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E-RR, Class F-RR, Class G-RR, Class H, Class J-RR and Class KJ-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2017-C41), Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2017-C4)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4A-5, Class A-ABSB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class X-D, Class X-E, Class X-F, Class D, Class E, Class F, Class G, Class H, Class J-RR and Class KJ-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-5 and Class A-AB SB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4A-5, Class A-AB SB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 1 contract
Sources: Pooling and Servicing Agreement (BMO 2023-C7 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Non-Vertically Retained Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR and Class K-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Non-Vertically Retained Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Non-Vertically Retained Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2019-Gc43)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Non-Uncertificated VRR Retained Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Non-Uncertificated VRR Retained Pooled Regular Certificates then outstanding as among the Class [A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, G and Class H, Class J-RR and Class K-RR ] Certificates; provided, however, that for purposes of determining the most subordinate Class of Non-Uncertificated VRR Retained Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 A-4, Class A-5 and Class A-AB Certificates are the only Classes of Non-Uncertificated VRR Retained Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Non-Uncertificated VRR Retained Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 1 contract
Sources: Pooling and Servicing Agreement (BMO 2022-C1 Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E-RR, Class F-RR, Class G, Class H-RR, Class J-RR, Class K-RR and Class KNR-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 1 contract
Sources: Pooling and Servicing Agreement (CSAIL 2018-C14 Commercial Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreement, except where noted otherwise, references to the most or next most subordinate Class of Pooled Regular Group 1 Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-SX-1, Class B, Class CC-1, Class D, Class E, Class F, Class G, Class H, Class J-RR E and Class K-RR F Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB A Certificates are the only Classes Class of Pooled Principal Balance Group 1 Certificates outstandingoutstanding (other than the Class X-1 Certificates), the Class A-1, A Certificates and the Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A X-1 Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S X-2, Class T, Class LR and Class R Certificates) Certificates shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero; provided, however, that notwithstanding the foregoing, solely for the purpose of distributing Excess Interest in accordance with the terms and priorities set forth in Section 4.01(e), any Class of Certificates entitled to distributions of Excess Interest shall continue to be deemed to be outstanding for so long as the Mortgage Loans with respect to which such Class is entitled to distributions of Excess Interest received therefrom (as set forth in Section 4.01(e)) remain outstanding. The Class X-2 Certificates shall only remain outstanding through and including the Distribution Date in July 2004, unless the Notional Balance thereof has previously been reduced to zero. For purposes of this Agreement, the Class T Certificates shall be deemed to be outstanding so long as there are any Certificates outstanding and the Class R and Class LR Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement9.01.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Structured Asset Securities Corp Series 1997 Ll I)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-AA-4, Class X-BA-1A, Class X-DA-1B, Class X▇-F▇, Class X▇▇▇▇▇ ▇-G, Class X-H, Class A-S▇, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR , Class K, Class L, Class M, Class N, Class O, Class P and Class K-RR Q Certificates; provided, howeverexcept when such reference is expressly made with respect to the Class VPM Certificates, that for purposes of determining in which case it shall mean the most or next most subordinate Class of Pooled Regular Certificates, in the event that Certificates then outstanding among the Class A-1VPM-1, Class A-2VPM-2, Class A-3, Class A-4 VPM-3 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstandingVPM-4 Certificates. For such purposes, the Class A-1, Class A-2, Class A-3, Class A-AB, Class A-4, Class A-AB A-1A and Class X-A Certificates together will A-1B Cert▇▇▇▇▇▇▇▇ ▇▇▇▇▇ctively shall be treated as the most subordinate Class of Pooled Regular Certificatesconsidered to be one Class. For purposes of this Agreement, each Class of Certificates (Certificates, other than the Class S LR and Class R Certificates) , shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class S, Class R and Class LR Certificates shall be outstanding so long as the Trust Fund has not been terminated pursuant to Section 9.01 or any other Class of Certificates remains outstanding. For purposes of this Agreement, each of the Class X Certificates shall be deemed to be outstanding so long as until its respective Notional Balance has been reduced to zero. Notwithstanding anything to the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For contrary contained herein, for purposes of this Agreement, except each reference to any action by the Master Servicers or Special Servicer that is subject to the consent or approval of the Directing Certificateholder or the Controlling Class Representative shall in each case be further subject to the determination by the applicable Master Servicer or Special Servicer that taking or refraining from taking the action as otherwise expressly provided proposed by the Directing Certificateholder or unless Controlling Class Representative, or not taking such action as proposed by the context otherwise requires:
applicable Master Servicer or Special Servicer if the Directing Certificateholder or Controlling Class Representative fails to grant its consent or approval to any action proposed to be taken by the applicable Master Servicer or Special Servicer, in each case, is consistent with the Servicing Standard. In each case, (ia) if the terms defined in this Agreement include response by the plural Directing Certificateholder or Controlling Class Representative hereunder is inconsistent with the Servicing Standard the applicable Master Servicer or the Special Servicer shall take such action as well as is consistent with the singularServicing Standard, and (b) if the use applicable Master Servicer or Special Servicer determines that immediate action is necessary to protect the interests of the Certificateholder and any gender herein shall be deemed to include related Companion Loan Noteholder (as a collective whole), it may take such action without waiting for a response from the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;Directing Certificateholder or Controlling Class Representative.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Deutsche Mortgage & Asset Receiving Corp)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates or Class X-D Component outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates or Class X-D Component then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-HNR, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR G and Class KNR Certificates and the Class X-RR CertificatesD Components; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB A Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB A Certificates and the Class X-A Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Regular Certificates (other than the Class S and Class R Certificates) shall be deemed to be outstanding only to the extent its respective Certificate Principal Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 1 contract
Sources: Pooling and Servicing Agreement (CSAIL 2015-C4 Commercial Mortgage Trust)
Certain Constructions. (a) For purposes of this Agreementthe definition of "Special Servicing Fee Rate" and Section 3.19, Section 3.25, Section 3.30 and Section 4.06(d), references to the most or next most subordinate Class of Pooled Certificates (or Lower-Tier Regular Certificates Interests) outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates (or Lower-Tier Regular Certificates Interests) then outstanding as among the Class A-1A-1A, Class ▇-▇▇, ▇▇▇▇▇ ▇▇-▇, Class A-2, Class A-3, Class A-4, Class A-ABA-5, Class X-AB-1, Class X-BB-2, Class X-DB-3, Class X-FB-4, Class X-GB-5, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR B-6 and Class K-RR Certificates; provided, however, that for purposes of determining B-6H Certificates (and the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstandingRelated Lower-Tier Regular Interests). For such purposes, the Class A-1B-6 and Class B-6H Certificates (and the Classes of Related Lower-Tier Regular Interests) together shall be considered to be one Class and the Class A-1A, Class A-2, Class A-3, Class A-4, Class A-AB A-1B and Class XPS-1 Certificates (and the Classes of Related Lower-A Certificates together will Tier Regular Interests) collectively shall be treated as the most subordinate Class of Pooled Regular Certificatesconsidered to be one Class. For purposes of this Agreement, each Class of Certificates (other than the Class S V-1, Class V-2, Class LR and Class R Certificates) Certificates shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class V-1 Certificates shall be deemed to be outstanding so long as there are any Notes outstanding, the Class V-2 Certificates shall be deemed outstanding so long as there are any Notes outstanding that provide for the payment of Excess Interest, the Class B-6H Certificates and the Class B-6H-L Interest shall be deemed to be outstanding so long as there are any Notes outstanding that provide for payments of Prepayment Premiums in connection with voluntary or involuntary prepayments and the Class R and Class LR Certificates shall be deemed to be outstanding so long as the Trust REMICs have Fund has not been terminated pursuant to Section 9.01 of this Agreement.
(b) 9.01. For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein Class PS-1 Certificates shall be deemed to include be outstanding until the other gender;
(ii) references herein PS-1 Notional Balance has been reduced to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;zero.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Capco America Securitization Corp)
Certain Constructions. (a) For purposes of this Agreementthe definitions of "Minimum Defaulted Monthly Payment", "Special Servicing Fee", Section 3.19, Section 3.12, Section 3.25, Section 3.30 and Section 4.06(d), references to the most or next most subordinate Class of Pooled Certificates (or Lower-Tier Regular Certificates Interests) outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates (or Lower-Tier Regular Certificates Interests) then outstanding as among the Class A-1[Class_____, Class A-2Class_____, Class A-3Class_____, Class A-4Class_____, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR [Etc.] Certificates (and Class K-RR Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstandingRelated Lower- Tier Regular Interests). For such purposes, the Class A-1_____ and Class _____ Certificates (and the Classes of Related Lower-Tier Regular Interests) together shall be considered to be one Class and the Class _____, Class_____, Class_____, Class A-2, Class A-3, Class A-4, Class A-AB _____ and Class X_____ Certificates (and the Classes of Related Lower-A Certificates together will Tier Regular Interests) collectively shall be treated as the most subordinate Class of Pooled Regular Certificatesconsidered to be one Class. For purposes - 42 - 49 of this Agreement, each Class of Certificates (other than the Class S V-1, Class V-2, Class LR and Class R Certificates) Certificates shall be deemed to be outstanding only to the extent its respective Certificate Balance or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class V-1 Certificates shall be deemed to be outstanding so long as there are any Notes outstanding, the Class V-2 Certificates shall be deemed outstanding so long as there are any Notes outstanding that provide for the payment of Excess Interest, the Class _____Certificates and the Class _____ Interest shall be deemed to be outstanding so long as there are any Notes outstanding that provide for payments of Prepayment Premiums in connection with voluntary or involuntary prepayments and the Class R and Class LR Certificates shall be deemed to be outstanding so long as the Trust REMICs have Fund has not been terminated pursuant to Section 9.01 of this Agreement.
(b) 9.01. For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, Class _____and the use of any gender herein Class _____ Certificates shall be deemed to include the other gender;
(ii) references herein be outstanding until their respective Notional Balances have been reduced to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;zero.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Amresco Commercial Mortgage Funding I Corp)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interests outstanding at any time shall mean the most or next most subordinate Class of Pooled Certificates or Class PEZ Regular Certificates Interest then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-DC, Class X-F, Class X-G, Class X-HD, Class A-S, Class B, Class C, Class D, Class E, Class FF and Class G Certificates and the Class A-S, Class G, Class H, Class J-RR B and Class K-RR CertificatesC Regular Interests; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB Certificates are the only Classes of Pooled Principal Balance Certificates outstanding, the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB AB, Class X-A, Class X-B, Class X-C and Class X-A D Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S R Certificates and, for purposes of receiving Yield Maintenance Charges, other than the Class X-B Certificates) and Class R Certificates) PEZ Regular Interest shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero. For purposes of this Agreement, the Class R Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Trust 2014-Gc23)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-S, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR H and Class K-RR J Certificates; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB A Certificates are the only Classes Class of Pooled Principal Balance Certificates outstandingoutstanding (other than the Class X, Class Q, Class LR or Class R Certificates), the Class A-1, A Certificates and the Class A-2, Class A-3, Class A-4, Class A-AB and Class X-A X Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S Q, Class LR and Class R Certificates) Certificates shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero; provided, however, that notwithstanding the foregoing, solely for the purpose of distributing Deferred Interest in accordance with the terms and priorities set forth in Section 4.01(e), any Class of Certificates entitled to distributions of Deferred Interest shall continue to be deemed to be outstanding for so long as the Mortgage Loans with respect to which such Class is entitled to distributions of Deferred Interest received therefrom (as set forth in Section 4.01(e)) remain outstanding. For purposes of this Agreement, the Class Q Certificates shall be deemed to be outstanding so long as there are any Certificates outstanding and the Class R and Class LR Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement9.01.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Cap I Inc Comm Mort Pass THR Cer Ser 1998 Xl2)
Certain Constructions. (a) For purposes of this Agreement, references to the most or next most subordinate Class of Pooled Regular Certificates outstanding at any time shall mean the most or next most subordinate Class of Pooled Regular Certificates then outstanding as among the Class A-1A-▇, ▇▇▇▇▇ ▇-▇▇, ▇▇▇▇▇ ▇-▇▇, Class A-2A-2C, Class A-3A-2D, Class A-4X-1A, Class A-ABX-1B, Class X-A, Class X-B, Class X-D, Class X-F, Class X-G, Class X-H, Class A-SX-2, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J-RR G and Class K-RR CertificatesH Certificates and the Class M Certificates shall not be considered senior or subordinate to any other Class of Certificates for such purposes herein; provided, however, that for purposes of determining the most subordinate Class of Pooled Regular Certificates, in the event that the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-AB A Certificates are the only Classes Class of Pooled Principal Balance Certificates outstandingoutstanding (other than the Class X-1A, Class X-1B, Class X-2, Class Q, Class LR, Class MR or Class R Certificates), the Class A-1A Certificates and the Class X-1A, Class A-2, Class A-3, Class A-4, Class A-AB X-1B and Class X-A X-2 Certificates together will be treated as the most subordinate Class of Pooled Regular Certificates. For purposes of this Agreement, each Class of Certificates (other than the Class S Q, Class LR , Class MR, and Class R Certificates) Certificates shall be deemed to be outstanding only to the extent its respective Certificate Balance Principal Amount or Notional Amount has not been reduced to zero; provided, however, that notwithstanding the foregoing, solely for the purpose of distributing Excess Interest in accordance with the terms and priorities set forth in Section 4.01(e), any Class of Certificates entitled to distributions of Excess Interest shall continue to be deemed to be outstanding for so long as the Mortgage Loans with respect to which such Class is entitled to distributions of Excess Interest received therefrom (as set forth in Section 4.01(e)) remain outstanding. For purposes of this Agreement, the Class R Q Certificates shall be deemed to be outstanding so long as there are any Certificates outstanding, the Class M Certificates shall be deemed to be outstanding so long as the Montehiedra Partner Loans are outstanding or all property acquired by the Trust with respect thereto has not been liquidated, and the Class R, Class MR and Class LR Certificates shall be deemed to be outstanding so long as the Trust REMICs have not been terminated pursuant to Section 9.01 of this Agreement9.01.
(b) For purposes of this Agreement, except as otherwise expressly provided or unless the context otherwise requires:
(i) the terms defined in this Agreement include the plural as well as the singular, and the use of any gender herein shall be deemed to include the other gender;
(ii) references herein to “Articles”, “Sections”, “Subsections”, “Paragraphs” and other subdivisions without reference to a document are to designated Articles, Sections, Subsections, Paragraphs and other subdivisions of this Agreement;
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Gs Mortgage Securities Ii Series 1997-Gl I)