Program; Initiation of Transactions. Section 3 of the Existing Repurchase Agreement is hereby amended by adding the following new subsection (h) at the end thereof:
Program; Initiation of Transactions a. From time to time, in the sole discretion of Buyer, (i) Buyer may purchase from Seller all right, title and interest in and to certain Mortgage Loans (including, without limitation, the Servicing Rights) that have been either originated by Seller or, if approved by Buyer, purchased by Seller from other originators, and (ii) Buyer may purchase from Seller all right, title and interest in and to certain Agency Securities. The Mortgage Loans shall be sold on a servicing-released basis. This Agreement is not a commitment by Buyer to enter into Transactions with Seller but rather sets forth the procedures to be used in connection with periodic requests for Buyer to enter into Transactions with Seller. Seller hereby acknowledges that Buyer is under no obligation to agree to enter into, or to enter into, any Transaction pursuant to this Agreement. All Purchased Mortgage Loans shall exceed or meet the Underwriting Guidelines, and shall be serviced by Servicer on the behalf of Buyer. The Aggregate Purchase Price shall not exceed the Maximum Aggregate Purchase Price.
Program; Initiation of Transactions a. On the initial Purchase Date, Administrative Agent on behalf of Buyers purchased the REO Subsidiary Interests. From time to time, Seller may request, and Administrative Agent for the benefit of Buyers (i) will facilitate the purchase by Buyers from Seller of certain Transaction Mortgage Loans that have been either originated by Seller or purchased by Seller from other originators and (ii) may fund additional Purchase Price Increases in connection with the conveyance of Contributed REO Properties to the REO Subsidiary and the corresponding increases of the Purchase Price on account of the REO Subsidiary Interests. This Agreement is a commitment by Committed Buyer to enter into Transactions with Seller up to an aggregate amount equal to the Maximum Committed Purchase Price. This Agreement is not a commitment by Administrative Agent on behalf of Buyers to enter into Transactions with Seller for amounts exceeding the Maximum Committed Purchase Price, but rather, sets forth the procedures to be used in connection with periodic requests for Administrative Agent on behalf of Buyers to enter into Transactions with Seller. Seller hereby acknowledges that, beyond the Maximum Committed Purchase Price, Administrative Agent on behalf of Buyers is under no obligation to agree to enter into, or to enter into, any Transaction pursuant to this Agreement; provided that once Administrative Agent for the benefit of Buyers and Seller enter into a Transaction with respect to one or more Transaction Mortgage Loans or Contributed REO Properties that would in the aggregate exceed the Maximum Committed Purchase Price, Administrative Agent shall not require Seller to repurchase any such Transaction Mortgage Loans or Contributed REO Properties unless such repurchase is otherwise permitted by the terms of this Agreement. All Transaction Mortgage Loans shall exceed or meet the Underwriting Guidelines, and shall be serviced by Seller or Servicer, as applicable. The aggregate Purchase Price of the Purchased Assets (adjusted for any Purchase Price Increases or reductions in Purchase Price, as applicable) subject to outstanding Transactions shall not exceed the Maximum Aggregate Purchase Price.
Program; Initiation of Transactions a. From time to time, Buyer will purchase from Seller certain Mortgage Loans that have either been originated by Seller or purchased by Seller from a Correspondent Seller. This Agreement is a commitment by Buyer to enter into Transactions with Seller for an aggregate amount equal to the Maximum Regular Way Committed Purchase Price. This Agreement is not a commitment by Buyer to enter into Transactions with Seller for amounts exceeding the Maximum Regular Way Committed Purchase Price, but rather, sets forth the procedures to be used in connection with periodic requests for Buyer to enter into Transactions with Seller. Seller hereby acknowledges that, beyond the Maximum Regular Way Committed Purchase Price, Buyer is under no obligation to agree to enter into, or to enter into, any Transaction pursuant to this Agreement. All Purchased Mortgage Loans shall exceed or meet the Underwriting Guidelines, and shall be serviced by Servicer. The aggregate Purchase Price of Purchased Mortgage Loans subject to outstanding Transactions shall not exceed the Maximum Regular Way Purchase Price.
Program; Initiation of Transactions a. From time to time, in the sole discretion of Buyer, Buyer may purchase from Seller certain Mortgage Loans that have been either originated by Seller or purchased by Seller from other originators. This Agreement is not a commitment by Buyer to enter into Transactions with Seller but rather sets forth the procedures to be used in connection with periodic requests for Buyer to enter into Transactions with Seller. Seller hereby acknowledges that Buyer is under no obligation to agree to enter into, or to enter into, any Transaction pursuant to this Agreement. All Purchased Mortgage Loans shall exceed or meet the Underwriting Guidelines, and shall be serviced by Seller or Servicer, as applicable. The aggregate Purchase Price of Purchased Mortgage Loans subject to outstanding Transactions shall not exceed the Maximum Aggregate Purchase Price.
Program; Initiation of Transactions a. From time to time, in the sole discretion of Buyer, Buyer may purchase from Seller certain Eligible Assets that have been purchased by Seller. The aggregate Purchase Price of Purchased Assets subject to outstanding Transactions plus the aggregate amount of Future Funding Commitments with respect to all Purchased Assets shall not exceed the Maximum Aggregate Purchase Price.
Program; Initiation of Transactions a. From time to time, in the sole discretion of Buyer, Buyer will purchase from Seller certain Mortgage Loans that have been either originated by Seller or purchased by Seller from other originators. THIS AGREEMENT IS NOT A COMMITMENT BY BUYER TO ENTER INTO TRANSACTIONS WITH SELLER BUT RATHER SETS FORTH THE PROCEDURES TO BE USED IN CONNECTION WITH PERIODIC REQUESTS FOR BUYER TO ENTER INTO TRANSACTIONS WITH SELLER. SELLER HEREBY ACKNOWLEDGES THAT BUYER IS UNDER NO OBLIGATION TO AGREE TO ENTER INTO, OR TO ENTER INTO, ANY TRANSACTION PURSUANT TO THIS AGREEMENT; PROVIDED, THAT, BUYER SHALL GIVE THE SELLER AT LEAST 60 DAYS PRIOR WRITTEN NOTICE OF ITS DECISION NOT TO ENTER INTO ANY ADDITIONAL TRANSACTIONS HEREUNDER.. All Purchased Mortgage Loans shall exceed or meet the Underwriting Guidelines, and shall be serviced by Servicer. The aggregate Purchase Price of Purchased Mortgage Loans subject to outstanding Transactions shall not exceed the Maximum Aggregate Purchase Price.
Program; Initiation of Transactions a. This Agreement is not a commitment to enter into Transactions with any Seller but rather sets forth the procedures to be used in connection with any request for Buyer to enter into Transactions with any Seller from time to time during the term of this Agreement and, if Buyer enters into Transactions with a Seller, such Seller’s obligations with respect thereto. Subject to the terms and conditions of this Agreement and provided that no Event of Default or Event of Termination has occurred and is continuing, Buyer may, from time to time during the term of this Agreement, enter into Transactions with Sellers. Buyer will not enter into Transactions for amounts exceeding the Maximum Aggregate Purchase Price. Notwithstanding the willingness of Buyer from time to time consider entering into Transactions hereunder, this Agreement is entered into on the express understanding that Buyer shall not be obligated to enter into any Transactions hereunder, and this Agreement shall in no way be construed as a commitment by Buyer. Buyer's entry into a Transaction hereunder shall not obligate buyer to enter into any future Transactions hereunder. All Mortgage Loans shall be serviced by the Servicer or Subservicer. The aggregate Purchase Price of Purchased Assets subject to outstanding Transactions shall not exceed the Maximum Aggregate Purchase Price.
Program; Initiation of Transactions a. From time to time, Administrative Agent (for the benefit of Buyers) will purchase from Sellers certain Mortgage Loans that have been either originated by Seller or purchased by Seller from other originators. This Agreement is a commitment by Committed Buyer to enter into Transactions with Seller up to an aggregate amount equal to the Maximum Committed Purchase Price. This Agreement is not a commitment by Administrative Agent on behalf of Buyers to enter into Transactions with Seller for amounts exceeding the Maximum Committed Purchase Price, but rather, sets forth the procedures to be used in connection with periodic requests for Administrative Agent on behalf of Buyers to enter into Transactions with Sellers. Each Seller hereby acknowledges that, beyond the Maximum Committed Purchase Price, Administrative Agent on behalf of Buyers is under no obligation to agree to enter into, or to enter into, any Transaction pursuant to this Agreement; provided that once Administrative Agent on behalf of Buyers and Seller enter into a Transaction with respect to one or more Purchased Mortgage Loans that would exceed the Maximum Committed Purchase Price, Administrative Agent on behalf of Buyers shall not require Seller to repurchase any such Purchased Mortgage Loans unless such repurchase is otherwise permitted by the terms of this Agreement. All Purchased Mortgage Loans shall exceed or meet the Underwriting Guidelines, and shall be serviced by Seller or Servicer, as applicable. The aggregate Purchase Price of Purchased Mortgage Loans subject to outstanding Transactions shall not exceed the Maximum Aggregate Purchase Price.
Program; Initiation of Transactions a. On the initial Purchase Date, Buyer will purchase the Trust Interests from Seller. This Agreement is a commitment by Buyer to enter into Transactions and Purchase Price Increases with Seller for an aggregate amount up to the Maximum Aggregate Purchase Price. This Agreement is not a commitment by Buyer to enter into Transactions or Purchase Price Increases with Seller for amounts exceeding the Maximum Aggregate Purchase Price, but rather, sets forth the procedures to be used in connection with periodic requests for Buyer to enter into such Transactions or Purchase Price Increases with Seller. Seller hereby acknowledges that Buyer is under no obligation to agree to enter into, or to enter into, any Transaction or Purchase Price Increase pursuant to this Agreement to the extent such Transaction or Purchase Price Increase would cause the Purchase Price to exceed the Maximum Aggregate Purchase Price. All Trust Mortgage Loans and REO Properties shall be serviced by Servicers. The aggregate Purchase Price (including Purchase Price Increases) of Purchased Assets subject to outstanding Transactions shall not exceed the Maximum Aggregate Purchase Price.
