Common use of ADMINISTRATOR'S AUTHORITY Clause in Contracts

ADMINISTRATOR'S AUTHORITY. ​ In consideration of the Administrator’s Guarantee relating to the Note that has been purchased by FFB under this Agreement, the Administrator shall have the sole authority (vis-à-vis FFB), in the case of a default by the Borrower under such Note or the occurrence of an event of default under the Security Instruments, in respect of acceleration of such Note, the exercise of other available remedies, and the disposition of sums or property recovered. ​

ADMINISTRATOR'S AUTHORITY. ​ In consideration of the Administrator’s Guarantee relating to the Note that has been purchased by FFB under this Agreement, the Administrator shall have the sole authority (vis-à-vis FFB), in the case of a default by the Borrower under such Note or the occurrence of an event of default under the Security Instruments, in respect of acceleration of such Note, the exercise of other available remedies, and the disposition of sums or property recovered. ​.