Delivery of Additional Collateral or Mandatory Prepayment. At any time that the aggregate Collateral Value of the Pledged Mortgages, Pledged Securities and REO Property then pledged hereunder is less than the aggregate amount of the Warehousing Advances then outstanding hereunder, the Lender may request, and the Company shall within two (2) Business Days after Notice by the Lender (a) deliver to the Lender for pledge hereunder additional Mortgage Loans, and/or cash, with a Collateral Value sufficient to cover the difference between the Collateral Value of the Pledged Mortgages, Pledged Securities and REO Property pledged and the aggregate amount of Warehousing Advances outstanding hereunder, and/or (b) repay the Warehousing Advances in an amount sufficient to reduce the aggregate balance thereof outstanding to or below the Collateral Value of the Pledged Mortgages, Pledged Securities and REO Properties pledged hereunder.
Delivery of Additional Collateral or Mandatory Prepayment. At any time that the aggregate Collateral Value of the Collateral then pledged hereunder is less than the aggregate amount of the Advances then outstanding hereunder, the Lender may request, and the Company shall within two (2) Business Days after Notice by the Lender (a) deliver to the Lender or its designee for pledge hereunder additional Mortgage Loans and/or cash, in aggregate amounts sufficient to cover the difference between the Collateral Value of the Collateral pledged and the aggregate amount of Advances outstanding hereunder, or (b) repay the Advances in an amount sufficient to reduce the aggregate balance thereof outstanding to an amount equal to or below the Collateral Value of the Collateral pledged hereunder.
Delivery of Additional Collateral or Mandatory Prepayment. At least once a week during the term of this Agreement (or more often in the discretion of the Agent if it reasonably determines that market conditions warrant) and whenever a Request for Borrowing is made by the Company (except that the Agent shall have no obligation to make such determination more frequently than once per day), the Agent shall:
Delivery of Additional Collateral or Mandatory Prepayment. Lender shall have the right to redetermine the Collateral Value of each Pledged Mortgage Loan on a daily basis. If Lender shall determine, in its reasonable discretion, at any time, that the Collateral Value of a Pledged Mortgage Loan is less than the outstanding principal balance of the related Advance or the aggregate Collateral Value of the Pledged Mortgage Loans is less than the aggregate outstanding principal balance of the Advances, Borrower shall, at Lender's sole option, immediately:
Delivery of Additional Collateral or Mandatory Prepayment. At least once a week during the term of this Agreement (or more often in the discretion of the Agent if it reasonably determines that market conditions warrant) and whenever a Request for Borrowing is made by the Company (except that the Agent shall have no obligation to make such determination more frequently than once per day), the Agent shall (i) determine pursuant to SECTION 1.2 the aggregate Collateral Values for the Borrowing Base for each type of Collateral (including any Collateral pledged on that day) Pledged to the Agent under this Agreement, (ii) issue to the Lenders a current certificate stating separately the Agent's determination of the Borrowing Base for each type of Collateral for which the Agent has made such determination (the Agent shall be required to make such determination when a Request for Borrowing is made only as to the Borrowing Base(s) relevant to that Request for Borrowing) and (iii) provide a copy of that certificate to the Company. If the Agent shall determine on any day that any Borrowing Base is less than the outstanding Advances under the related Subline, then the Company shall immediately (by no later than the next Business Day after the Agent's request) either:
Delivery of Additional Collateral or Mandatory Prepayment. At any time that the aggregate Collateral Value of the Collateral then pledged hereunder is less than the aggregate amount of the Advances then outstanding hereunder, the Lender may request, and the Borrowers shall within ten (10) Business Days after Notice by the Lender (a) deliver to the Lender or its designee for pledge hereunder additional Mortgage Loans and/or cash, in aggregate amounts sufficient to cover the difference between the Collateral Value of the Collateral pledged and the aggregate amount of Advances outstanding hereunder, or (b) repay the Advances in an amount sufficient to reduce the aggregate balance thereof outstanding to an amount equal to or below the Collateral Value of the Collateral pledged hereunder. If at any time the Collateral Value of any Collateral is zero, Borrowers shall immediately pay to Lender the aggregate balance of all Advances outstanding against such Collateral. If at any time the limitations of Section 2.1(b) (2) - (6) are exceeded, Borrowers shall immediately pay to Lender the amount of such excess.
Delivery of Additional Collateral or Mandatory Prepayment. In the event that the Bank shall determine at any time that the Collateral Value of the Eligible Collateral then pledged hereunder is less than the aggregate amount of the Advances then outstanding hereunder, the Borrower shall immediately (a) deliver to the Bank for pledge hereunder Collateral satisfactory to the Bank in its sole and absolute discretion and/or cash, in aggregate amounts sufficient to cover the difference between the Collateral Value of the Eligible Collateral pledged and the aggregate amount of Advances outstanding hereunder, or (b) repay the Advances in an amount sufficient to reduce the aggregate balance thereof outstanding to or below the Collateral Value of the Eligible Collateral pledged hereunder.
Delivery of Additional Collateral or Mandatory Prepayment. At any time that the aggregate Collateral Value of the Pledged Mortgages, Pledged Securities, Hedging Arrangements that the Lender has agreed to include in the calculation of Collateral Value and cash then pledged hereunder is less than the aggregate amount of the Warehousing Advances then outstanding hereunder, the Lender may request, and the Borrowers shall within -6- Washington/Huntxxx:00/17/96 two (2) Business Days after Notice by the Lender (a) deliver to the Lender for pledge hereunder additional Mortgage Loans, Mortgage-backed Securities and/or cash, with a Collateral Value sufficient to cover the difference between the Collateral Value of the Pledged Mortgages, Pledged Securities, Hedging Arrangements and cash pledged and the aggregate amount of Warehousing Advances outstanding hereunder, and/or (b) repay the Warehousing Advances in an amount sufficient to reduce the aggregate balance thereof outstanding to or below the Collateral Value of the Pledged Mortgages, Pledged Securities, Hedging Arrangements and cash pledged hereunder.
Delivery of Additional Collateral or Mandatory Prepayment. In the --------------------------------------------------------- event that the Lender shall determine, in its sole discretion, at any time that the Collateral Value of the Pledged Mortgages (such value being determined at such time as if then being pledged under Section 3.1 hereof) is less than the ----------- aggregate amount of the Advances then outstanding hereunder, the Company shall immediately (a) deliver to the Lender for pledge hereunder additional Mortgage Loans satisfactory to the Lender and/or cash, in aggregate amounts sufficient to cover the difference between the Collateral Value of the then existing Pledged Mortgages and the aggregate amount of Advances outstanding hereunder, or (b) repay the Advances in an amount sufficient to reduce the aggregate outstanding balance thereof to or below the Collateral Value of the Pledged Mortgages.
Delivery of Additional Collateral or Mandatory Prepayment. In --------------------------------------------------------- the event that the Bank shall determine at any time that the value of the Collateral then pledged hereunder (such value being determined at such time as if then being pledged under Section 3.1(b) hereof) is less than the aggregate amount of the Advances then outstanding hereunder, the Company shall immediately (a) deliver to the Bank for pledge hereunder additional Mortgage Loans, Purchase Commitments and other related Collateral satisfactory to the Bank (each valued at that time in accordance with Section 2.1(c) hereof) and/or cash, in aggregate amounts sufficient to cover the difference between the value of the Collateral pledged and the aggregate amount of Advances outstanding hereunder, or (b) repay the Advances in an amount sufficient to reduce the aggregate balance thereof outstanding to or below the value of the Collateral pledged hereunder.
