Fixed Advances with MBS Execution Clause Samples

Fixed Advances with MBS Execution. In the case of an MBS execution, within one (1) Business Day after receipt of the Rate Form and upon satisfaction of all of the conditions to Lender’s obligation to make such Fixed Advance (or for conversion, as applicable), Lender shall solicit bids from institutional investors selected by Lender based on the information in the Rate Form. If Lender obtains a commitment (“MBS Commitment”) on terms equivalent (or better than) the terms in the draft Rate Form, Lender shall then complete and countersign the Colonial/ Grandbridge — Master Credit Facility Agreement Rate Form thereby confirming the terms set forth therein, and shall immediately deliver the Rate Form to Borrower.