BORROWER REQUESTS. Seller shall promptly (and in any event not later than two (2) Business Days after knowledge thereof) notify Purchaser of any request by a Borrower for a modification, waiver or consent. Seller and Servicer shall further agree that Seller shall not take any action or effect or direct Servicer to take any action or effect any material modification or amendment of or material waiver under any Purchased Asset without receiving the prior written consent of Purchaser.
Appears in 2 contracts
Sources: Master Repurchase Agreement (Claros Mortgage Trust, Inc.), Master Repurchase Agreement (Claros Mortgage Trust, Inc.)
BORROWER REQUESTS. Seller shall promptly (and in any event not later than two (2) Business Days after actual knowledge thereof) notify Purchaser of any request by a Borrower for a modification, waiver or consent. Seller and Servicer shall further agree that Seller shall not take any action or effect or direct Servicer to take any action or effect any material modification or amendment of or material waiver under any Purchased Asset without Seller receiving the prior written consent of Purchaser.
Appears in 1 contract
Sources: Master Repurchase Agreement (Colony NorthStar Credit Real Estate, Inc.)