Common use of Gestation Facilities Clause in Contracts

Gestation Facilities. Directly or indirectly sell or finance Pledged Mortgages under any Gestation Agreements other than the ▇▇▇▇▇▇ Facility, the Household Facility or the ▇▇▇▇▇▇ Facility; provided, that no Ordinary Warehousing Advance shall be made against any Pledged Mortgage sold or financed under the ▇▇▇▇▇▇ Facility, the Household Facility or the ▇▇▇▇▇▇ Facility after initially being pledged hereunder. 9. The Company must pay all out-of-pocket costs and expenses of the Lender, including, without limitation, reasonable fees, service charges and disbursements of counsel in connection with the amendment, enforcement and administration of the Agreement. 10. The Company must deliver to the Lender (a) four executed originals of this Amendment; and (b) four executed Certificates of Secretary with corporate resolutions and certificate of incumbency of the Company. 11. The Company represents, warrants and agrees that as of the Effective Date there exists no Default or Event of Default under the Loan Documents, the Loan Documents continue to be the legal, valid and binding agreements and obligations of the Company enforceable in accordance with their terms, as modified herein, the Lender is not in default under any of the Loan Documents and the Company has no offset or defense to its performance or obligations under any of the Loan Documents, the representations contained in the Loan Documents remain true and accurate in all respects, and there has been no material adverse change in the financial condition of the Company from the date of the Agreement to the date of this Amendment. 12. Except as hereby expressly modified, the Agreement shall otherwise be unchanged and shall remain in full force and effect, and the Company ratifies and reaffirms all of its obligations thereunder. 13. This Amendment may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.

Gestation Facilities. Directly or indirectly sell or finance Pledged Mortgages under any Gestation Agreements other than the ▇▇▇▇▇▇ Lehman Facility, the Household Facility or the Morgan Facility; ▇▇▇▇▇▇ Facility; provided▇ed, that no Ordinary Warehousing Advance shall ▇▇▇▇▇ be made against any Pledged Mortgage sold or financed under the ▇▇▇▇▇▇ Lehman Facility, the Household Facility or the ▇▇Morgan Facility a▇▇▇▇ Facility after initially ▇nitially being pledged hereunder. 9. The Company T▇▇ ▇▇▇pany must pay all out-of-pocket costs and expenses of the Lender, including, without limitation, reasonable fees, service charges and disbursements of counsel in connection with the amendment, enforcement and administration of the Agreement. 10. The Company must deliver to the Lender (a) four executed originals of this Amendment; and (b) four executed Certificates of Secretary with corporate resolutions and certificate of incumbency of the Company. 11. The Company represents, warrants and agrees that as of the Effective Date there exists no Default or Event of Default under the Loan Documents, the Loan Documents continue to be the legal, valid and binding agreements and obligations of the Company enforceable in accordance with their terms, as modified herein, the Lender is not in default under any of the Loan Documents and the Company has no offset or defense to its performance or obligations under any of the Loan Documents, the representations contained in the Loan Documents remain true and accurate in all respects, and there has been no material adverse change in the financial condition of the Company from the date of the Agreement to the date of this Amendment. 12. Except as hereby expressly modified, the Agreement shall otherwise be unchanged and shall remain in full force and effect, and the Company ratifies and reaffirms all of its obligations thereunder. 13. This Amendment may be executed in any number of counterparts and by the different parties hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument.