Common use of Material Modifications Clause in Contracts

Material Modifications. Servicer (i) agrees to notify Buyer in writing whenever a borrower under a Purchased Asset requests any review, approval or action defined as a Material Modification in the Repurchase Agreement, and (ii) further agrees that Servicer will not make any Material Modification or take any action requiring Servicer to make a Material Modification, without Buyer’s prior written consent.

Material Modifications. Servicer (i) ▇▇▇▇▇▇ agrees to notify Buyer in writing whenever a borrower under a Purchased Asset requests any review, approval or action defined as that requires a Material Modification in the Repurchase AgreementModification, and (ii) Servicer and Seller further agrees agree that Servicer will not make any Material Modification or take take, or omit to take, any action requiring Servicer to make or that would effect a Material Modification, without the Seller first obtaining Buyer’s prior written consent.