Common use of Limitation of Servicer’s Actions Clause in Contracts

Limitation of Servicer’s Actions. Servicer shall not take any action with respect to the Mortgage Loans or any obligation of each Mortgagor thereunder which would adversely affect Purchaser’s rights under the Mortgage Loans, including, without limitation, the right to receive any interest and principal or extend the final maturity date on any such Mortgage Loan. Further, notwithstanding anything to the contrary herein, except for Servicer’s activities in accordance with Sections 4(a) and (b) and Section 5, Servicer shall obtain the Purchaser’s prior written consent prior to taking any material action with respect to a Mortgage Loan.

Limitation of Servicer’s Actions. Servicer shall not take any action with respect to the Mortgage Loans or any obligation of each Mortgagor thereunder which would adversely affect Purchaser’s rights under the Mortgage Loans, including, without limitation, the right to receive any interest and principal or extend the final maturity date on any such Mortgage Loan. Further, notwithstanding anything anythin g to the contrary herein, except for Servicer’s activities in accordance with Sections 4(a) and (b) and Section 5, Servicer shall obtain the Purchaser’s prior written consent prior to taking any material action with respect to a Mortgage Loan.