Relationships with Borrowers, etc. Except as otherwise consented to by the Initial Member, neither the Private Owner nor the Manager shall, at any time, (a) be an Affiliate of or a partner or joint venturer with any Borrower, (b) be an agent of any Borrower, or allow any Borrower to be an agent of the Manager or the Company, or (c) except as is otherwise contemplated by the Company’s ownership of the Loans and its right to hold Acquired Property, have any interest whatsoever in any Borrower, Obligor or other obligor with respect to any Loan or any of the Underlying Collateral.
Appears in 8 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Interest Sale and Assignment Agreement, Limited Liability Company Operating Agreement
Relationships with Borrowers, etc. Except as otherwise consented to by the Initial Member, neither none of the Private Owner nor Owner, the Manager or any Affiliate of either shall, at any time, ,
(a) be an Affiliate of or a partner or joint venturer with any Borrower, (b) be an agent of any Borrower, or allow any Borrower to be an agent of the Manager or the Company, or (c) except as is otherwise contemplated by the Company’s ownership of the Loans Assets and its right to hold Acquired Property, have any interest whatsoever in any Borrower, Obligor or other obligor with respect to any Loan Asset or any of the Underlying Collateral.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Relationships with Borrowers, etc. Except as otherwise consented to by the Initial Member, neither the Private Owner nor the Manager shall, at any time, (a) be an Affiliate of or a partner or joint venturer with any Borrower, (b) be an agent of any Borrower, or allow any Borrower to be an agent of the Manager or the Company, or (c) except as is otherwise contemplated by the Company’s ownership of the Loans and its right to hold Acquired Property, have any interest whatsoever in any Borrower, Obligor or other obligor with respect to any Loan or any of the Underlying Collateral.
Appears in 2 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Relationships with Borrowers, etc. Except as otherwise consented to by the Initial Member, neither the Private Owner nor the Manager shall, at any time, (a) be an Affiliate of or a partner or joint venturer with any Borrower, (b) be an agent of any Borrower, or allow any Borrower to be an agent of the Manager or the Company, or (c) except as is otherwise contemplated by the Company’s ownership of the Mortgage Loans and its right to hold Acquired Property, have any interest whatsoever in any Borrower, Obligor or other obligor with respect to any Mortgage Loan or any of the Underlying Collateral.
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