Actions Requiring Manager Consent Sample Clauses

Actions Requiring Manager Consent. Notwithstanding anything to the contrary contained in this Agreement, the Servicer shall not cause or permit to be taken any of the following actions without the prior written consent of the Manager (which may require the Manager to obtain the consent of the Initial Member and/or the Purchase Money Notes Guarantor), which consent may be withheld or conditioned in the sole and absolute discretion of the Manager:
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Actions Requiring Manager Consent. Notwithstanding anything to the contrary contained in this Agreement, the Servicer shall not cause or permit to be taken any of the following actions without the prior written consent of the Manager (which may require the Manager to obtain the consent of the Initial Member and/or the Purchase Money Notes Guarantor), which consent may be withheld or conditioned in the sole and absolute discretion of the Manager: (a) conducting Bulk Sales except as expressly permitted in the Servicing Obligations (and in all events subject to the limitations set forth in the LLC Operating Agreement); (b) the payment of fees to, the sale or other transfer (including through foreclosure or by deed in lieu thereof) of any Loan or Underlying Collateral or Acquired Property (or any portion thereof) to, or any other transaction with (whether or not at usual and customary rates), any Affiliate of the Company, the Manager, the Servicer, any Affiliate of the Servicer, any Subservicer, or any Affiliate of any Subservicer; (c) the financing of the sale or other transfer of any Loans, Underlying Collateral or Acquired Property (or any portion thereof); (d) the sale of any Loan or Underlying Collateral or Acquired Property (or any portion thereof) that provides for any recourse against the Company, the Initial Member or the FDIC in any capacity, or against any interest in the Company held by the Initial Member or any share of the Loan Proceeds allocable to the Initial Member; (e) any disbursement of any funds in the Collection Account (including any such funds made available through Discretionary Funding Advances or Excess Working Capital Advances), the Working Capital Reserve Account, the accounts created under the Custodial and Paying Agency Agreement or any Other Accounts other than in accordance with the provisions of this Agreement, the LLC Operating Agreement, the Reimbursement, Security and Guaranty Agreement and the Custodial and Paying Agency Agreement; (f) advancing additional funds that would increase the Unpaid Principal Balance of any Loan other than (i) Funding Draws, or (ii) Servicing Expenses to the extent that capitalizing such Servicing Expenses is or would have been, prior to the conversion of the Loan to Acquired Property, permitted under the applicable Loan Documents; (g) in connection with its servicing and administration of any Loan and management of the Underlying Collateral or Acquired Property, (i) approving (x) any material modification or amendment to, or canc...
Sample 1

Related to Actions Requiring Manager Consent

  • Governmental Consent No governmental orders, permissions, consents, approvals or authorizations are required to be obtained by the Company that have not been obtained, and no registrations or declarations are required to be filed by the Company that have not been filed in connection with, or, in contemplation of, the execution and delivery of, and performance under, the Transaction Documents, except for applicable requirements, if any, of the Securities Act, the Exchange Act or state securities laws or “blue sky” laws of the various states and any applicable federal or state banking laws and regulations.

  • Promotions Requiring Higher Qualifications Consideration for promotion shall be given to the senior applicant who does not possess the required qualifications but is presently obtaining such qualifications prior to filling the vacancy. At the discretion of the Employer, such an employee may be given a trial period to qualify within a reasonable length of time and will revert to her former position if the required qualifications are not met within such time.

  • CITY MANAGER’S RECOMMENDED ACTION This agreement formalizes the mechanism that may be used by the City to transfer civil rights complaints to the Iowa Civil Rights Commission for investigation. ICRC will compensate the City for acting as the intake agent under this agreement. The City and ICRC have maintained this arrangement for several years. Transferring this time- consuming investigation responsibility to the ICRC will allow the Ames Human Relations Commission more time to devote to proactive educational projects in the community. Therefore, it is the recommendation of the City Manager that the City Council adopt Alternative No. 1, as described above.

  • AMENDMENTS REQUIRED BY PRIME CONTRACT XXXXXX agrees that upon the request of LOCKHEED XXXXXX it will negotiate in good faith with LOCKHEED XXXXXX relative to amendments to this Contract to incorporate additional provisions herein or to change provisions hereof, as LOCKHEED XXXXXX may reasonably deem necessary in order to comply with the provisions of the applicable Prime Contract or with the provisions of amendments to such Prime Contract. If any such amendment to this Contract causes an increase or decrease in the cost of, or the time required for, performance of any part of the Work under this Contract, an equitable adjustment shall be made pursuant to the "Changes" clause of this Contract.

  • Required Consents No consent shall be required for any assignment except to the extent required by subsection (b)(i)(B) of this Section and, in addition:

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