Accepted Servicing Practices

Accepted Servicing Practices. Shall mean the higher of (a) the same care, skill, prudence and diligence with which Senior Participant services and administers similar loans for other third party portfolios, giving due consideration to customary and usual standards of practice of prudent institutional commercial lenders servicing their own loans and (b) the same care, skill, prudence and diligence which Senior Participant utilizes for loans which Senior Participant owns for its own account, in each case, acting in accordance... with applicable law, the terms of this Agreement, the Loan Documents and the Loan's insurance policies and with a view to the maximization of timely recovery of principal and interest on a net present value basis on the Loan as a whole, but without regard to: (i) any relationship that Senior Participant or any Affiliate of Senior Participant may have with the Borrower or any Affiliates of the Borrower; (ii) the ownership of any interest in the Loan by Senior Participant or any Affiliate of Senior Participant; (iii) the ownership of any senior or junior indebtedness with respect to the Premises by Senior Participant or any Affiliate of Senior Participant; or (iv) the ownership, or servicing or management for others, by Senior Participant or any sub-servicer, of any other loans or properties. View More

Accepted Servicing Practices. The same meaning as the analogous definition set forth in the Pooling Agreement, except that the definition of such analogous term must provide, among other things, that the Master Servicer and Special Servicer shall service the Loan for the benefit of A-1 Lender and the A-2 Lender as a collective whole, taking into account that the A-1 Note is pari passu in right of payment with the A-2 Note.

Accepted Servicing Practices. With respect to any Mortgage Loan (including any related REO Property), each of those mortgage servicing practices (including collection procedures) of prudent mortgage lending institutions which service mortgage loans of the same type as such Mortgage Loan in the jurisdiction where the related Mortgaged Property is located, which servicing practices (i) are in compliance with all federal, state and local laws and regulations, (ii) shall be in accordance with the Servicer's policies and... procedures as amended from time to time for mortgage loans of the same type, (iii) are in accordance with the terms of the related Mortgage and Mortgage Note and (iv) with respect to any Agency Mortgage Loan, are at a minimum based on the requirements set forth from time to time in the applicable Guide. View More