Initiation Termination Clause Samples

Initiation Termination. Section 3 of the Existing Repurchase Agreement is hereby amended by deleting subsection (e) in its entirety and replacing it with the following:

Initiation Termination. Section 3 of the Existing Repurchase Agreement is hereby amended by adding the following new subsection (b)(xv) in its proper order:

Initiation Termination. 20 SECTION 4. MARGIN AMOUNT MAINTENANCE......................................26

Initiation Termination. 4039 3.1. Seller Request; Agent Confirmation ...................................................................... 4039 3.2. Request/Confirmation ................................................................................................... 40 3.3. Transaction Termination; Purchase Price Decrease ............................................... 4140 3.4. Place for Payments of Repurchase Prices ..................................................................... 41 3.5. Withdrawals from and Credits to Operating Account ............................................ 4241 3.6. [Reserved] ..................................................................................................................... 42 3.7. Disbursements from Repurchase Settlement Account .................................................. 42 3.8. Delivery of Additional Mortgage Loans ....................................................................... 42 3.9. Application of Purchase Price Decreases ............................................................... 4342 3.10. Defaulting Buyers ......................................................................................................... 43 3.11. eMortgage Loan Transactions ................................................................................ 4645 Section 4. Transaction Limits and Sublimits. ........................................................................ 47 4.1. Transaction Limits ........................................................................................................ 47 4.2. Transaction Sublimits ................................................................................................... 48 4.3. Compliance ................................................................................................................... 49 Section 5.

Initiation Termination. 17 4. RESERVED........................................................................ 22 5.

Initiation Termination. 21 SECTION 4.

Initiation Termination. (a) Conditions Precedent to Initial Transaction. Buyer’s agreement to enter into the initial Transaction hereunder is subject to the satisfaction, immediately prior to or concurrently with the making of such Transaction, of the condition precedent that Buyer shall have received from Seller any fees and expenses payable hereunder, and all of the following documents, each of which shall be satisfactory to Buyer and its counsel in form and substance: (i) The following Facility Documents, duly executed and delivered to Buyer: (A) Agreement. This Agreement, duly executed by the parties thereto.

Initiation Termination. Section 3 of the Existing Repurchase Agreement is hereby amended by: 2.1 deleting clauses (b)(vi), (b)(vii) and (b)(viii) in their entirety and replacing them with the following, respectively:

Initiation Termination. It is acknowledged and agreed that, notwithstanding any other provision of this Agreement to the contrary, the facility provided under this Agreement is an uncommitted facility, and Agent on behalf of Buyers shall have no obligation to enter into any Transactions hereunder. Subject to the terms and conditions set forth herein, Agent on behalf of Buyers agrees that so long as no Event of Default shall have occurred and be continuing or result therefrom it may in its sole discretion enter into Transactions with Seller from time to time in an aggregate principal amount that will not result in the Aggregate Utilized Purchase Price for all Purchased Assets (including Contributed REO Properties) subject to then outstanding Transactions under this Agreement to exceed the Maximum Aggregate Purchase Price; provided that the Purchase Price of each Transaction shall not be less than [***], unless otherwise agreed to by Agent in its sole discretion; provided, further, that for any [***] period, there shall not be more than [***] new Transactions, unless otherwise agreed to by Agent in its sole discretion. Within the foregoing limits and subject to the terms and conditions set forth herein, Seller may enter into Transactions. This Agreement is not a commitment by Agent to enter into Transactions with Seller, but rather, sets forth the procedures to be used in connection with periodic requests for Agent to enter into Transactions with Seller.