Common use of Avoidance of Consolidation Clause in Contracts

Avoidance of Consolidation. (i) An additional “Event of Default” shall be listed in Section 10.01, to be inserted after clause (10), to read in its entirety as follows: or (11) the purchase or holding of any securities issued in a Securitization Transaction by any Servicer that is an insured depository institution, as such term is defined in the Federal Deposit Insurance Act (an “insured depository institution”) (any Servicer that is an insured depository institution, an “IDI Servicer”) such that the IDI Servicer is required to consolidate any of the Mortgage Loans on its financial statements under U.S. generally accepted accounting principles;