Special Servicing Sample Clauses

Special Servicing. (a) Subject to the conditions described in Section 3.23(b) below, the Holder of the Class SB Certificates may (but is not obligated to) appoint a special servicer (each, a "Special Servicer") to service any Mortgage Loan which is delinquent in payment by 120 days or more as of the related Special Servicing Transfer Date; provided, however, that the aggregate Stated Principal Balance of Mortgage Loans transferred to a Special Servicer pursuant to this Section shall not equal or exceed 10% of the Cut-off Date Balance. The Holder of the Class SB Certificates shall give the Trustee and the Master Servicer not less than 40 days prior written notice of the date on which it anticipates the transfer of servicing with respect to any Mortgage Loan to a Special Servicer to occur (the "Special Servicing Transfer Date"), specifying (i) the Mortgage Loan(s) that it intends to transfer and (ii) the related Special Servicer. (b) Any Special Servicer appointed pursuant to Section 3.23(a) above shall (i) be rated in one of the two highest rating categories as a special servicer by at least two of Standard & Poor's, ▇▇▇▇▇'▇ and ▇▇▇▇▇ Ratings, (ii) satisfy and be subject to all requirements and obligations of a Subservicer under this Agreement, including but not limited to, servicing in accordance with the Program Guide and this Agreement, (iii) be approved by the Master Servicer (which approval shall not be unreasonably withheld), (iv) be capable of full compliance with Regulation AB and (v) sign an acknowledgement agreeing to be bound by this Agreement. In addition, no Special Servicer may modify a Mortgage Loan without the prior written consent of the Master Servicer and such modification shall be in compliance with Section 3.07(a) hereof. (c) In connection with the transfer of the servicing of any Mortgage Loan to a Special Servicer, the Master Servicer or Subservicer of such Mortgage Loan (the "Transferring Servicer") shall, at such Special Servicer's expense, deliver to such Special Servicer all documents and records relating to such Mortgage Loan and an accounting of amounts collected or held by it and otherwise use its best efforts to effect the orderly and efficient transfer of the servicing of such Mortgage Loan to such Special Servicer. Such Special Servicer shall thereupon assume all of the rights and obligations of the Transferring Servicer hereunder arising from and after the Special Servicing Transfer Date, including the right to receive the related Subservicin...

Special Servicing. The Special Servicer agrees, with respect to the Serviced Mortgage Loans, to perform and observe the duties, responsibilities and obligations that are to be performed and observed under the provisions of the Servicing Agreement, except as otherwise provided herein and on Exhibit A hereto, and that the provisions of the Servicing Agreement, as so modified, are and shall be a part of this Agreement to the same extent as if set forth herein in full.

Special Servicing. Borrower shall pay all reasonable special servicing fees relating the transfer of the Loan to special servicing at any time during the term of the Loan and for so long as the Loan is in special servicing. The obligations of Borrower set forth in this Section 13.5 are limited to the Borrower and Guarantor shall have no liability to Lender hereunder.

Special Servicing. On each Distribution Date, the Trustee shall verify, based on the recovery and expense information provided by Wilshire on the related Servicer Data Remittance Date, (i) the aggregate amount of accrued and unpaid Servicing Fees to be paid to Wilshire and expenses to be reimbursed to Wilshire on such Charged Off Loans as of the related Due Period and (ii) the amount of Net Recoveries on such Charged Off Loans for such Distribution Date. The Trustee shall be entitled to rely, without independent verification, on the loan level data provided by Wilshire that identifies the recovery amounts and the outstanding and unpaid expenses on any Charged Off Loan in order to verify the amount in clause (ii) of the previous sentence. The Trustee will be responsible for independently verifying the aggregate amount of accrued and unpaid Servicing Fees described in clause (i) of the second preceding sentence to be paid to Wilshire.

Special Servicing. A. The Lender will notify the Government when a Borrower is thirty (30) days past due on a payment or if a Borrower is otherwise in default. Lender will notify the Government of the status of a Borrower's default on Form RD 1980-44 ''Guaranteed Loan Borrower Default Status.'' Actions taken by Lender with written concurrence of the Government will include, but are not limited to, the following or any combination thereof: 1. Deferment of principal payments; 2. An additional temporary loan by the Lender to bring the account current; 3. Reamortization of or rescheduling the payments on the loan; 4. Transfer and assumption of the loan in accordance with the applicable subpart of 7 CFR part 3565; 5. Reorganization; 6. Liquidation; or 7. Subsequent loan guarantees.

Special Servicing. Section 5.1 Special Servicing Rights 38 Section 5.2 Sponsor Option 39 Section 5.3 Special Servicing Procedures 39 Section 5.4 Servicing Limitations 43

Special Servicing. The Master Servicer may, in its sole and absolute discretion, enter into a Special Servicing Agreement with an unaffiliated holder of 100% Percentage Interest of a Class B Security to be substantially in the form of Exhibit H hereto, or subject to each Rating Agency's acknowledgment that the ratings of the Securities in effect immediately prior to the entering into of such agreement would not be qualified, downgraded or withdrawn and the Securities would not be placed on credit review status (except for possible upgrading) as a result of such agreement. Any such agreement may contain provisions whereby such holder may instruct the Master Servicer to commence or delay foreclosure proceedings with respect to delinquent Mortgage Loans and will contain provisions for the disposition of cash by the holder that would be available for distribution to Certificateholders if Liquidation Proceeds are less than they otherwise may have been had the Master Servicer acted in accordance with its normal procedures.

Special Servicing. It is recognised that a business may require access to the central walkway outside of the scheduled times. For safety reasons, reasonable access will be provided to meet business needs as required. It must be recognised that Eat ▇▇▇▇▇▇ is a special environment, and the stringent control of all vehicle access and mutual agreement on use & behaviours is important to protect it. Waste & Recycling will be collected from both ends of the ▇▇▇▇▇▇ or from a relevant service lane if a business has one. A rubbish bin collection point has been designed beside the geothermal controls on Pukaki Street. As part of the weather / wind proofing of Eat ▇▇▇▇▇▇ there are some side roller partitions fitted as part of the initial project. These are typically on the southern side of any enclosed space (next to an open space) and are necessary to provide overall wind and weather breaks to the area. Additional side roller Partitions (as specified by RLC) can be fitted by respective businesses at their own cost if desirable, subject to written consent by the majority (greater than 50%) as specified under the “Eat ▇▇▇▇▇▇ Operations Memorandum of Understanding” (”The Protocol”) (once adopted and as amended from time to time) – refer appendix 6, to ensure matching design and mutual natural lighting. The operation of the side roller partitions will be in conjunction with each business that the partitions border. Businesses are expected to liaise with each other regarding opening or shutting these blinds partitions. Side Roller partitions will be clear plastic, and will connect with the wooden fence boundaries. Atticus ▇▇▇▇▇ Positioning of Blinds Service Ponsonby Skills The structure has been designed for a specified retractable roof system and is an optional but important aspect in creating the Eat ▇▇▇▇▇▇ environment. During the initial project these have been paid for by the business owner via a ten (10) year rent to own scheme under a lease agreement with RLC. For any new ones, the property owner will need to either purchase these outright from RLC or enter into a rent to own scheme under a lease agreement for ten (10) years with RLC –refer appendix 7. RLC considers that it is more appropriate for a lease agreement to be with the property owner rather than the business owner, as businesses tend to be sold more frequently than properties. Accordingly agreements with property owners are more administratively convenient for all concerned. Retractable Roofs can be fitted at any time as t...

Special Servicing. Subject to the following conditions, the initial Servicer may appoint a special servicer to service any Mortgage Loan that as of the first day of a Fiscal Quarter is delinquent in payment by 90 days or more or is an REO Property (a “Distressed Mortgage Loan”). The appointment of a special servicer by the initial Servicer and the execution of a special servicing agreement with the special servicer shall be subject to the consent the Master Servicer, the Depositor and the Trustee and the receipt of confirmation from the Rating Agencies that the transfer of servicing to the special servicer shall not result in a reduction of the then-current rating previously given by such Rating Agency to any Certificate. Any monthly fee paid to the special servicer in connection with any Mortgage Loan serviced by such special servicer shall not exceed one-twelfth of the product of (a) the Minimum Servicing Fee Rate and (b) the Scheduled Principal Balance of such Mortgage Loan. The special servicing agreement shall provide that the special servicer shall undertake all duties and responsibilities of the Servicer under this Agreement in respect of any Distressed Mortgage Loans serviced by the special servicer, including in particular, all advancing obligations and all Exchange Act reporting obligations of the Servicer with respect to such Mortgage Loans. All reasonable costs and expenses incurred in connection with a transfer of servicing to the special servicer including, without limitation, the costs and expenses of the Trustee, the Master Servicer or any other Person in appointing a special servicer, or of transferring the servicing files and the other necessary data to the special servicer, shall be paid by the Servicer from its own funds without reimbursement. The Servicer shall be responsible for the delivery of all required transfer notices and will send a copy of the transfer notice to the Master Servicer. In addition, the Servicer shall provide or cause any special servicer to provide to the Securities Administrator and the Depositor any information or data as may be necessary for the Securities Administrator to prepare and file any Exchange Act Reports as may be required under Regulation AB or otherwise to reflect the appointment of the special servicer.