Common use of Purchase Upon Request for Consent Clause in Contracts

Purchase Upon Request for Consent. In the event that Participant notifies Lead Lender that it will not give its consent to any of the proposed actions to be taken by Lead Lender described in Section 4.4 above or that it will not give its consent and approval for the services of the attorney chosen by Lead Lender pursuant to Section 4.5 above, Lead Lender shall have the option (but not the obligation) to purchase or cause to be purchased, Participant's pro rata share of the Loan within thirty (30) Business Days after notifying Participant in writing of Lead Lender's intent to exercise such option. Any such purchase shall be at a price equal to Participant's pro rata share of the then outstanding principal balance of the Loan plus accrued interest as of the date of purchase plus the Participant's pro rata share of any other monies paid by Borrower to Lead Lender pursuant to the Loan Documents and not yet distributed pursuant to the terms of this Agreement, plus the Participant's pro rata share of any other advances authorized by the Loan Documents (e.g. payment of real estate taxes) and actually made by Lead Lender and Participant, through the date of purchase (the "Purchase Price").