Common use of Certain Restrictions and Requirements Clause in Contracts

Certain Restrictions and Requirements. (a) Member may not use or possess Company Property other than for a Company purpose, except as provided under license or other contractual arrangements. Member shall not have any authority to bind, or otherwise to act on behalf of, the Company except pursuant to authority expressly granted herein or pursuant to authority granted by the Manager in accordance with the terms hereof. (b) The Company shall not purchase or redeem Member’s Company Interest, directly or indirectly. (c) No Person may or shall be admitted as a Member in the Company except pursuant to and in accordance with Article VIII hereof. (d) Member will at all times meet the qualifications of a Qualified Transferee. (e) Member shall cause the Company to become a member of MERS on or before February 1, 2009 and, for so long as the Participation and Servicing Agreement is in effect, maintain itself as a MERS member in good standing (including paying all dues and other fees required to maintain its membership and complying with MERS policies and procedures).

Certain Restrictions and Requirements. (a) The Member may not use or possess Company Property other than for a Company purpose, except as provided under license or other contractual arrangements. The Member shall not have any authority to bind, or otherwise to act on behalf of, the Company except pursuant to authority expressly granted herein or pursuant to authority granted by the Manager in accordance with the terms hereof. (b) The Company shall not purchase or redeem the Member’s Company Interest, directly or indirectly. (c) No Person may or shall be admitted as a Member in the Company except pursuant to and in accordance with Article VIII hereof. (d) The Member will at all times meet the qualifications of a Qualified Transferee. (e) The Member shall cause the Company to become a member of MERS on or before February 1March 19, 2009 and, for so long as any Loan is registered on the Participation and Servicing Agreement is in effectMERS system, maintain itself as a MERS member in good standing (including paying all dues and other fees required to maintain its membership and complying with MERS policies and procedures).