Costs That Are Not Reimbursable. Notwithstanding anything else to the contrary contained in any Transaction Document, without the prior written consent of the Initial Member (which may be withheld, conditioned or delayed in the Initial Member’s sole and absolute discretion), in no event may the Manager deduct from the Asset Proceeds, or otherwise use Asset Proceeds (or Company funds) to reimburse itself, the Servicer, any Subservicer or any JDC Contractor or pay for, any Excluded Expenses (all of which must be borne by the Manager in its individual capacity).
Appears in 4 contracts
Samples: Limited Liability Company Operating Agreement, Interest Sale and Assignment Agreement, Limited Liability Company Operating Agreement
Costs That Are Not Reimbursable. Notwithstanding anything else to the contrary contained in any Transaction Document, without the prior written consent of the Initial Member (which may be withheld, conditioned or delayed in the Initial Member’s sole and absolute discretion), in no event may the Manager deduct from the Asset Proceeds, or otherwise use Asset Proceeds (or Company funds) to reimburse itself, the Servicer, any Subservicer or any JDC Contractor or pay for, any Excluded Expenses (all of which must be borne by the Manager in its individual capacity).capacity).
Appears in 1 contract
Costs That Are Not Reimbursable. Notwithstanding anything else to the contrary contained in any Transaction Document, without the prior written consent of the Initial Member (which may be withheld, conditioned or delayed in the Initial Member’s sole and absolute discretion), in no event may the Manager deduct from the Asset Proceeds, or otherwise use Asset Proceeds (or Company funds) to reimburse itself, the Servicer, any Subservicer or any JDC Contractor or pay for, any Excluded Expenses (all of which must be borne by the Manager in its individual capacity).capacity).
Appears in 1 contract
Samples: Private Owner Interest Sale and Assignment Agreement
