Common use of Actions Requiring Participant Consent Clause in Contracts

Actions Requiring Participant Consent. Notwithstanding anything to the contrary contained in this Agreement, neither the Company nor the Servicer shall permit to be taken any of the following actions without the prior written consent of the Participant in the Participant’s sole and absolute discretion: (a) the sale or other transfer of any Loan or Collateral (or any portion thereof) to any Affiliate of the Company, the Servicer, any Affiliate of the Servicer, any Subservicer, or any Affiliate of any Subservicer; (b) the financing of the sale or other transfer of any Loan or Collateral (or any portion thereof); (c) the sale of any Loan or Collateral (or any portion thereof) that provides for any recourse against the Company or the Participant, subject to the terms and conditions of the Participation Agreement; (d) any disbursement of any funds in the Collection Account or any Other Accounts other than in accordance with the provisions of this Agreement; (e) where applicable the Servicer or any Subservicer ceases to be a member in good standing of MERS; (f) other than capitalizing accrued and unpaid interest and other amounts permitted to be capitalized pursuant to the Loan Modification Program or the Participation Agreement, advancing additional funds that would increase the Unpaid Principal Balance; or (g) reimbursement for any expense or cost incurred (or paid) to any Affiliate of the Company, any Affiliate of the Servicer or any Affiliate of any Subservicer.

Actions Requiring Participant Consent. Notwithstanding anything to the contrary contained in this Agreement, neither the Company nor the Servicer shall permit to be taken any of the following actions without the prior written consent of the Participant Participant, which may be withheld or conditioned in the Participant’s sole and absolute discretion: (a) the sale or other transfer of any Loan or Collateral (or any portion thereof) to any Affiliate of the Company, the Servicer, any Affiliate of the Servicer, any Subservicer, or any Affiliate of any Subservicer; (b) the financing of the sale or other transfer of any Loan or Collateral (or any portion thereof); (c) the sale of any Loan or Collateral (or any portion thereof) that provides for any recourse against the Company (except as otherwise permitted by the Company) or the Participant, subject Participant or any share of the Loan Proceeds allocable to the terms and conditions of the Participation AgreementParticipant; (d) any disbursement of any funds in the Collection Account, the LIP Account or any Other Accounts other than in accordance with the provisions of this Agreement; (e) where applicable the Servicer or any Subservicer ceases to be a member in good standing of MERS; (f) other than capitalizing accrued and unpaid interest interest, Pre-Cut-Off Date Advances, Servicing Advances and other amounts permitted to be capitalized pursuant to the Loan Modification Program or the Participation AgreementAuthorized Funding Draws, advancing additional funds that would increase the Unpaid Principal Balance; or (gf) reimbursement for any expense or cost incurred (or paid) to any Affiliate of the Company, any Affiliate of the Servicer or any Affiliate of any Subservicer.