Reserved Authority. The Bridge Bank must obtain consent and direction from the Receiver before taking any of the actions listed below. The Receiver has the right, in its discretion, to undertake these actions directly: a. initiate offensive asset-related litigation, including filing counter-claims, or judicial foreclosures; b. any communication or other actions taken to resolve loan relationships (loans with common obligors) with combined book balances above $25 million; c. fund any loan with an unfunded commitment that as of the date of failure that had an unfunded amount of more than $7.5 million; d. initiate non-judicial foreclosures; and e. any sale or disposition of any Servicing Asset.
Appears in 4 contracts
Sources: Transfer Agreement, Transfer Agreement, Transfer Agreement