Common use of Covered Loans Clause in Contracts

Covered Loans. The parties agree that, notwithstanding the Crossover Date in the Second Amendment to Program Agreements (BAGEL), dated as of January 10, 2003, the Guaranty Agreement shall cover and apply to all Bank of America ▇▇▇▇ Program Loans for which ▇▇▇▇ received applications on or after the effective date (May 22, 2002) of the First Amendment to the Old Core Guaranty Agreement (each such Loan, an "Affected Loan"). Accordingly, (a) each Affected Loan is eligible for purchase under the terms and conditions of the Note Purchase Agreement, as amended, and (b) Guaranty Fees for each Affected Loan shall be subject to the Deposit and Security Agreement and deposited in the Pledged Account (as defined in the Guaranty Agreement) by ▇▇▇▇ within ten (10) days after the date hereof.

Covered Loans. The parties agree that, notwithstanding the Crossover Date in the Second Amendment to Program Agreements (BAGEL), dated as of January 10, 2003, the Guaranty Agreement shall cover and apply to all Bank of America ▇▇▇▇ Program Loans for which ▇▇▇▇ received applications on or after the effective date (May 22, 2002) of the First Amendment to the Old Core Guaranty Agreement (each such Loan, an "Affected Loan"). Accordingly, (a) each Affected Loan is eligible for purchase under the terms and conditions of the Note Purchase Agreement, as amended, and (b) Guaranty Fees for each Affected Loan shall be subject to the Deposit and Security Agreement and deposited in the Pledged Account (as defined in the Guaranty Agreement) by ▇▇▇▇ within ten (10) days after the date hereof.. <Page> 6. FULL