Common use of Advisory Rights of Class B Holder Clause in Contracts

Advisory Rights of Class B Holder. (a) At any time prior to the designation of a Delinquent Mortgage Loan as a Specially Serviced Mortgage Loan, the Class B Holder may contact the Company's servicing personnel to obtain information regarding any action which the Company proposes to take with respect to such Delinquent Mortgage Loan and the Company agrees to consult with the Class B Holder concerning any such proposed action, including, without limitation, any proposal to commence foreclosure proceedings, to accept a deed-in-lieu of foreclosure, to consent to a sale of Mortgaged Property at a loss, or, if permitted under the terms of the related Pooling and Servicing Agreement, to purchase a