Notification by Buyer. Following notification by Buyer (which may be by facsimile) to Custodian (and receipt of such notification by Custodian) that a Default or an Event of Default has occurred and is continuing, Custodian shall not release, or incur any liability to Seller or any other Person for refusing to release, any item relating to a Purchased Asset to Seller or any other Person without the express prior written consent and at the direction of Buyer.
Appears in 3 contracts
Samples: Custodial Agreement (Starwood Property Trust, Inc.), Custodial Agreement (Starwood Property Trust, Inc.), Custodial Agreement (Starwood Property Trust, Inc.)
Notification by Buyer. Following notification by Buyer (which may be by facsimile) to Custodian (and receipt of such notification by Custodian) that a Default or an Event of Default has occurred and is continuing, Custodian shall not release, or incur any liability to Seller or any other Person for refusing to release, any item relating to a Purchased Asset to Seller or any other Person without the express prior written consent and at the direction of Buyer.
Appears in 1 contract
Samples: Custodial Agreement (Ares Commercial Real Estate Corp)
