Common use of Requests for Consents Clause in Contracts

Requests for Consents. In the event that the Trustee receives written notice of any proposed amendment, consent or waiver under the Underlying Instruments of any Loan Obligation (before or after any default) or in the event any action is required to be taken in respect to an Underlying Instrument, the Trustee shall promptly contact the Issuer and the Loan Obligation Manager. The Loan Obligation Manager may, on behalf of the Issuer, instruct the Trustee pursuant to an Issuer Order to, and the Trustee shall, with respect to which a Loan Obligation as to which a consent or waiver under the Underlying Instruments of such Loan Obligation (before or after any default) has been proposed or with respect to action required to be taken in respect of an Underlying Instrument, give consent, grant a waiver, vote or exercise any or all other rights or remedies with respect to any such Loan Obligation in accordance with such Issuer Order. In the absence of any instruction from the Loan Obligation Manager, the Trustee shall not engage in any vote or take any action with respect to such a Loan Obligation.

Appears in 9 contracts

Samples: Indenture (Arbor Realty Trust Inc), Indenture (Arbor Realty Trust Inc), Arbor (Arbor Realty Trust Inc)

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Requests for Consents. In the event that the Trustee receives written notice of any proposed amendment, consent or waiver under the Underlying Instruments of any Loan Obligation Collateral Debt Security (before or after any default) or in the event any action is required to be taken in respect to an Underlying Instrument, the Trustee shall promptly contact the Issuer and the Loan Obligation Collateral Manager. The Loan Obligation Collateral Manager may, on behalf of the Issuer, instruct the Trustee pursuant to an Issuer Order to, and the Trustee shall, with respect to which a Loan Obligation Collateral Debt Security as to which a consent or waiver under the Underlying Instruments of such Loan Obligation Collateral Debt Security (before or after any default) has been proposed or with respect to action required to be taken in respect of an Underlying Instrument, give consent, grant a waiver, vote or exercise any or all other rights or remedies with respect to any such Loan Obligation Collateral Debt Security in accordance with such Issuer Order. In the absence of any instruction from the Loan Obligation Collateral Manager, the Trustee shall not engage in any vote or take any action with respect to such a Loan ObligationCollateral Debt Security.

Appears in 5 contracts

Samples: Gramercy Real (Gramercy Capital Corp), Cdo Servicing Agreement (Gramercy Capital Corp), Marathon Real Estate Finance, Inc.

Requests for Consents. In the event that the Trustee receives written notice of any proposed amendment, consent or waiver under the Underlying Instruments of any Loan Obligation Collateral Debt Security (before or after any default) or in the event any action is required to be taken in respect to an Underlying Instrument, the Trustee shall promptly contact the Issuer and the Loan Obligation Collateral Manager. The Loan Obligation Collateral Manager may, on behalf of the Issuer, instruct the Trustee pursuant to an Issuer Order to, and the Trustee shall, with respect to which a Loan Obligation Collateral Debt Security as to which a consent or waiver under the Underlying Instruments of such Loan Obligation Collateral Debt Security (before or after any default) has been proposed or with respect to action required to be taken in respect of an Underlying Instrument, give consent, grant a waiver, vote or exercise any or all other rights or remedies with respect to any such Loan Obligation Collateral Debt Security in accordance with such Issuer Order. In the absence of any instruction from the Loan Obligation Collateral Manager, the Trustee shall not engage in any vote or take any action with respect to such a Loan Obligation.Collateral Debt Security. 155

Appears in 1 contract

Samples: Cdo Servicing Agreement (Gramercy Capital Corp)

Requests for Consents. In the event that the Trustee receives written notice of any proposed amendment, consent or waiver under the Underlying Instruments of any Loan Obligation Collateral Debt Security (before or after any default) or in the event any action is required to be taken in respect to an Underlying Instrument, the Trustee shall promptly contact the Issuer and the Loan Obligation Collateral Manager. The Loan Obligation Collateral Manager may, on behalf of the Issuer, instruct the Trustee pursuant to an Issuer Order to, and the Trustee shall, with respect to which a Loan Obligation Collateral Debt Security as to which a consent or waiver wavier under the Underlying Instruments of such Loan Obligation Collateral Debt Security (before or after any default) has been proposed or with respect to action required to be taken in respect of an Underlying Instrument, give consent, grant a waiver, vote or exercise any or all other rights or remedies with respect to any such Loan Obligation Collateral Debt Security in accordance with such Issuer Order. In the absence of any instruction from the Loan Obligation Collateral Manager, the Trustee shall not engage in any vote or take any action with respect to such a Loan ObligationCollateral Debt Security.

Appears in 1 contract

Samples: Arbor Realty Trust Inc

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Requests for Consents. In the event that the Trustee receives written notice of any proposed amendment, consent or waiver under the Underlying Instruments of any Loan Collateral Obligation (before or after any default) or in the event any action is required to be taken in respect to an Underlying Instrument, the Trustee shall promptly contact the Issuer and the Loan Obligation Collateral Manager. The Loan Obligation Collateral Manager may, on behalf of the Issuer, instruct the Trustee pursuant to an Issuer Order to, and the Trustee shall, with respect to which a Loan Collateral Obligation as to which a consent or waiver under the Underlying Instruments of such Loan Collateral Obligation (before or after any default) has been proposed or with respect to action required to be taken in respect of an Underlying Instrument, give consent, grant a waiver, vote or exercise any or all other rights or remedies with respect to any such Loan Collateral Obligation in accordance with such Issuer Order. In the absence of any instruction from the Loan Obligation ManagerCollateral Manager on behalf of the Issuer, the Trustee shall not engage in any vote or take any action with respect to such a Loan Collateral Obligation.

Appears in 1 contract

Samples: Capitalsource Inc

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