No Sub. Servicer will permit a modification, waiver or amendment with respect to the Serviced Loans except with the written consent of the Master Servicer. The Master Servicer shall forward any such package that requires the consent of the Special Servicer, Controlling Class Representative, and/or Rating Agencies promptly to the Special Servicer, Controlling Class Representative, and/or Rating Agencies, as the case may be, but in any event within ten (10) Business Days of its initial receipt from the Sub-Servicer. The Sub-Servicer shall not consent to any Principal Prepayment, partially or in its entirety, if the Mortgagor would be prohibited from making such Principal Prepayment without such consent. The Sub-Servicer shall promptly forward all requests for Principal Prepayments to the Master Servicer, along with a payoff statement (with respect to each Principal Prepayment request) setting forth the amount of the necessary Principal Prepayment and Prepayment Premiums calculated by the Sub-Servicer. The Master Servicer will process all defeasance requests and any defeasance of a Serviced Loan. The Sub-Servicer will forward any request for defeasance to the Master Servicer within three (3) Business Days. (30) Section 4.07 is not incorporated herein. The Sub-Servicer shall have no obligation to make P&I Advances. (31) Section 10.01. The Subservicer shall cooperate with the Master Servicer and/or Depositor to enable them to comply with Regulation AB. (32) Section 10.03. (33) Section 10.05 is not incorporated herein. The Subservicer shall cooperate with the Trustee, Depositor and Master Servicer to enable the Trustee, Depositor and Master Servicer to fulfill all of their obligations of the under Section 10.05 of the Pooling and Servicing Agreement.
Appears in 1 contract
Sources: Sub Servicing Agreement (COMM 2006-C8 Mortgage Trust)
No Sub. Servicer will permit a modification, waiver or amendment with respect to the Serviced Mortgage Loans except with the written consent of the Master Servicer. The Master Servicer shall forward any such package that requires the consent of the Special Servicer, Controlling Class Representative, and/or Rating Agencies promptly to the Special Servicer, Controlling Class Representative, and/or Rating Agencies, as the case may be, but in any event within ten (10) Business Days of its initial receipt from the Sub-Servicer. The Sub-Servicer shall not consent to any Principal Prepayment, partially or in its entirety, if the Mortgagor would be prohibited from making such Principal Prepayment without such consent. The Sub-Servicer shall promptly forward all requests for Principal Prepayments to the Master Servicer, along with a payoff statement (with respect to each Principal Prepayment request) setting forth the amount of the necessary Principal Prepayment and Prepayment Premiums calculated by the Sub-Servicer. The Master Servicer will process all defeasance requests and any defeasance of a Serviced Mortgage Loan. The Sub-Servicer will forward any request for defeasance to the Master Servicer within three (3) Business Days.
(30) Section 4.07 is not incorporated herein. The Sub-Servicer shall have no obligation to make P&I Advances.
(31) Section 10.01. The Subservicer shall cooperate with the Master Servicer and/or Depositor to enable them to comply with Regulation AB.
(32) Section 10.03.
(33) Section 10.05 is not incorporated herein. The Subservicer shall cooperate with the Trustee, Depositor and Master Servicer to enable the Trustee, Depositor and Master Servicer to fulfill all of their obligations of the under Section 10.05 of the Pooling and Servicing Agreement.
Appears in 1 contract
Sources: Sub Servicing Agreement (COMM 2006-C7 Mortgage Trust)