Section 819. The Primary Servicer shall promptly notify the Master Servicer of any event or circumstance that the Primary Servicer deems to constitute a Servicing Transfer Event with respect to any Mortgage Loan or A/B Whole Loan and whether such Mortgage Loan or A/B Whole Loan is covered by an Environmental Insurance Policy. The determination as to whether a Servicing Transfer Event has occurred shall be made by the Master Servicer. Upon receipt by the Master Servicer of notice from the Special Servicer that a Specially Serviced Mortgage Loan has become a Rehabilitated Mortgage Loan, the Master Servicer shall promptly give the Primary Servicer notice thereof and the obligation of the Primary Servicer to service and administer such Mortgage Loan or A/B Whole Loan shall resume.
Appears in 2 contracts
Sources: Primary Servicing Agreement (Morgan Stanley Capital I Trust 2011-C3), Primary Servicing Agreement (Morgan Stanley Capital I Trust 2011-C3)