Acquisition of Collateral. If Collateral is acquired by a Lender by foreclosure sale or otherwise, at the option of such Lender, title may be taken in the name of such Lender or in the name of a corporation affiliated with such Lender or other nominee designated by such Lender, in any case, for the ratable benefit of both Lenders subject to the terms of this Agreement. Each Lender shall consult with the other Lender as to the general operation and disposition of any Collateral for which title has been acquired through foreclosure or otherwise. Neither Lender shall withhold its consent unreasonably in matters and decisions by the other Lender relating to the management, operation, or repair of the Collateral so acquired.
Appears in 3 contracts
Sources: Intercreditor Agreement (Venture Lending & Leasing Iv Inc), Intercreditor Agreement (Venture Lending & Leasing V, Inc.), Intercreditor Agreement (Venture Lending & Leasing Ii Inc)