Common use of Ineligible Collateral Clause in Contracts

Ineligible Collateral. Collateral shipped under clause (a) above, unless returned timely to Administrative Agent, ceases to be an Eligible-Mortgage Loan, Eligible-Commercial Loan or Eligible Lease, as applicable, (i) to the extent that Collateral Documents for Mortgage Loans, Commercial Loans or Leases with more than a total face amount of $1,000,000 are held by or for any investor (other than FNMA, FHLMC, and GNMA, or any other investor that Administrative Agent has approved in writing), and (ii) upon the earlier of either the release of the Lender Liens in that Collateral under clause (c) below, or the expiration of the Shipping Period for that Collateral.

Ineligible Collateral. Collateral shipped under clause (a) above, unless returned timely to Administrative Agent, ceases to be an Eligible-Mortgage Loan, Eligible-Commercial Loan Loan, or Eligible LeaseEligible-High LTV Loan, as applicable, (i) to the extent that Collateral Documents for Mortgage Loans, Loan or Commercial Loans or Leases Loan with more than a total face amount of $1,000,000 are held by or for any investor Investor (other than FNMA, FHLMC, and GNMA, or any other investor Investor that Administrative Agent has approved in writing), and (ii) upon the earlier of either the release of the Lender Liens in that Collateral under clause (c) below, or the expiration of the Shipping Period for that Collateral.