Common use of Buydowns Clause in Contracts

Buydowns. Without limiting any other rights of Borrower to prepay amounts outstanding under the Revolving Credit contained herein, Borrower may, at its option, prepay all or part of the outstanding principal amounts outstanding under the Revolving Credit (including the Swing Line) at any time without reducing the Revolving Credit Aggregate Commitment (such prepayment individually a “Buydown” and collectively, “Buydowns”). Any Buydown made in accordance with this Section shall be without premium or penalty. Each Buydown shall be applied to repay outstanding Advances in the order and manner as determined by Agent and ▇▇▇▇▇▇▇▇. For the avoidance of doubt, a Buydown is a reduction in the aggregate principal balance of the Advances outstanding under this Agreement, but does not represent the prepayment of any particular Advance with respect to any Pledged Mortgage Loans and, accordingly, a Buydown shall not entitle Borrower to the release of any Pledged Mortgage Loans and Agent shall continue to hold all Pledged Mortgage Loans as security for the Indebtedness until such time as Agent releases its lien upon the sale of any such Pledged Mortgage Loan in accordance with the terms of this Agreement or the other Loan Documents. Borrower may request re-advances of all or a portion of the amount(s) of any Buydown(s) subject to all of the terms and conditions for Advances, other than those terms and conditions expressly excluded with respect to re-advances in Section 2.3 of this Agreement, of the Revolving Credit under this Agreement. 4854-1287-6893.v9

Buydowns. Without limiting any other rights of Borrower to prepay amounts outstanding under the Revolving Credit contained herein, Borrower may, at its option, prepay all or part of the outstanding principal amounts outstanding under the Revolving Credit (including the Swing Line) at any time without reducing the Revolving Credit Aggregate Commitment (such prepayment individually a “Buydown” and collectively, “Buydowns”). Any Buydown made in accordance with this Section shall be without premium or penalty. Each Buydown shall be applied to repay outstanding Advances in the order and manner as determined by Agent and ▇▇▇▇▇▇▇▇Borrower. For the avoidance of doubt, a Buydown is a reduction in the aggregate principal balance of the Advances outstanding under this Agreement, but does not represent the prepayment of any particular Advance with respect to any Pledged Mortgage Loans and, accordingly, a Buydown shall not entitle Borrower to the release of any Pledged Mortgage Loans and Agent shall continue to hold all Pledged Mortgage Loans as security for the Indebtedness until such time as Agent releases its lien upon the sale of any such Pledged Mortgage Loan in accordance with the terms of this Agreement or the other Loan Documents. Borrower may request re-advances of all or a portion of the amount(s) of any Buydown(s) subject to all of the terms and conditions for Advances, other than those terms and conditions expressly excluded with respect to re-advances in Section 2.3 of this Agreement, of the Revolving Credit under this Agreement. 4854-1287-6893.v9.