Common use of Program; Initiation of Transactions Clause in Contracts

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. On the initial Purchase Date, Administrative Agent on behalf of Buyers purchased the REO Subsidiary Interests. From time to time, Seller Conduit Buyers may requestin their sole discretion, and if Conduit Buyers in any Buying Group shall decline to purchase, the related Committed Buyers shall, direct the related Group Agent, which shall direct the Administrative Agent for the benefit of Buyers (i) will facilitate the to purchase by Buyers from Seller of Sellers certain Transaction Mortgage Loans that have been either originated by Seller Sellers or purchased by Seller Sellers from other originators and (ii) may fund additional Purchase Price Increases in connection with the conveyance of Contributed REO Properties originators, subject to the REO Subsidiary terms and the corresponding increases of the Purchase Price on account of the REO Subsidiary Interestsconditions hereof. This Agreement is a commitment by each Committed Buyer to direct their applicable Group Agent to direct the Administrative Agent to enter into Transactions with Seller up to the Sellers for an aggregate amount equal to such Committed Buyer’s Commitment, subject to the Maximum Committed Purchase Priceterms and conditions hereof. This Agreement is not neither a commitment by Conduit Buyers to direct their applicable Group Agent to direct the Administrative Agent on behalf of Buyers to enter into Transactions with Seller the Sellers nor a commitment by any Committed Buyer to direct their applicable Group Agent to direct the Administrative Agent to enter into Transactions with the Sellers for amounts exceeding the Maximum such Committed Purchase PriceBuyer’s Commitment, but rather, rather sets forth the procedures to be used in connection with periodic requests for Administrative Agent on behalf for the benefit of Buyers to enter into Transactions with Sellerthe Sellers. Each Seller hereby acknowledges that, beyond the Maximum Committed Purchase Price, Buyers are not under any obligation to direct their applicable Group Agent to direct the 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 . Furthermore, each Committed Buyer’s commitment to enter into any Transactions shall be several from the obligations of any other Committed Buyer so that once Administrative Agent no Committed Buyer shall be responsible for the benefit failure of Buyers and Seller enter into a Transaction with respect any other Committed Buyer 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 Agreementhonor its funding obligations hereunder. All Transaction 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 the Purchased Assets (adjusted for any Purchase Price Increases or reductions in Purchase Price, as applicable) Mortgage Loans subject to outstanding Transactions shall not exceed the Maximum Aggregate Purchase Price. Administrative Agent for the benefit of Buyers shall only be required to enter into Transactions in which the Purchase Price with respect thereto is at least $25,000,000.

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 requestin the sole discretion of Buyers, and Administrative Agent (for the benefit of Buyers (iBuyers) will may facilitate the purchase by Buyers from Seller of certain Transaction Mortgage Loans that have been either originated by Seller or and/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 InterestsSeller. This Agreement is a commitment by Committed Buyer and Administrative Agent on behalf of Committed Buyer to enter into Transactions with Seller up to an aggregate amount equal not to exceed the Maximum Committed Purchase PriceAmount. This Agreement is not a commitment by Committed Buyer or Administrative Agent on behalf of Buyers Committed Buyer to enter into Transactions with Seller for amounts exceeding the Maximum Committed Purchase PriceAmount, but rather, rather sets forth the procedures to be used in LEGAL02/43092007v4 connection with periodic requests for Buyers or Administrative Agent on behalf of Buyers Xxxxxx to enter into Transactions with SellerXxxxxx. Seller hereby acknowledges thatFor the avoidance of doubt, beyond Transactions attributed to the Maximum Committed Purchase PriceAmount shall solely be attributed to the Committed Buyer and Xxxxx, Administrative Agent on behalf of Buyers is under in its capacity as a buyer, Funding 2, and Xxxxxx shall have no obligation to agree commitment hereunder to enter into, or to enter into, any Transaction pursuant to this Agreement; provided that once Administrative Agent for the benefit into Transactions. Any Transactions entered into in excess 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 Amount 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 Agreementbe entered into solely on an uncommitted basis. All Transaction Purchased Mortgage Loans shall exceed or meet the Underwriting requirements set forth in the Asset Guidelines, and shall be serviced by Seller or Servicer, as applicable. The aggregate Purchase Price sum of the Purchased Assets (adjusted for any Purchase Price Increases or reductions in Aggregate Purchase Price-Base, as applicable) subject to outstanding Transactions the Aggregate Purchase Price-Incremental 1 and the Aggregate Purchase Price-Incremental 2 shall not exceed the Maximum Aggregate Purchase Price. With respect to each Designated Asset, the Purchase Price-Incremental 2 shall not be drawn upon until such time that the Purchase Price Base and Purchase Price-Incremental 1 have been fully drawn.

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 requestin the sole discretion of Buyers, and Administrative Agent (for the benefit of Buyers (iBuyers) will may facilitate the purchase by Buyers from Seller of certain Transaction Mortgage Loans that have been either originated by Seller or and/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 InterestsSeller. This Agreement is a commitment by Committed Buyer and Administrative Agent on behalf of Committed Buyer to enter into Transactions with Seller up to an aggregate amount equal not to exceed the Maximum Committed Purchase PriceAmount. This Agreement is not a commitment by Committed Buyer or Administrative Agent on behalf of Buyers Committed Buyer to enter into Transactions with Seller for amounts exceeding the Maximum Committed Purchase PriceAmount, but rather, rather sets forth the procedures to be used in connection with periodic requests for Buyers or Administrative Agent on behalf of Buyers to enter into Transactions with Seller. Seller hereby acknowledges thatFor the avoidance of doubt, beyond Transactions attributed to the Maximum Committed Purchase Price, Administrative Agent on behalf of Buyers is under Amount shall solely be attributed to the Committed Buyer and Alpine shall have no obligation to agree commitment hereunder to enter into, or to enter into, any Transaction pursuant to this Agreement; provided that once Administrative Agent for the benefit LEGAL02/41326134v4 into Transactions. Any Transactions entered into in excess 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 Amount 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 Agreementbe entered into solely on an uncommitted basis. All Transaction Purchased Mortgage Loans shall exceed or meet the Underwriting requirements set forth in the Asset Guidelines, and shall be serviced by Seller or Servicer, as applicable. The aggregate Purchase Price sum of the Purchased Assets (adjusted for any Purchase Price Increases or reductions in Aggregate Purchase Price-Base, as applicable) subject to outstanding Transactions the Aggregate Purchase Price-Incremental 1 and the Aggregate Purchase Price-Incremental 2 shall not exceed the Maximum Aggregate Purchase Price. With respect to each Designated Asset, the Purchase Price-Incremental 2 shall not be drawn upon until such time that the Purchase Price Base and Purchase Price-Incremental 1 have been fully drawn.

Program; Initiation of Transactions. a. On the initial Purchase Date, Administrative Agent on behalf Buyer will purchase the Transaction Subsidiary Interests (accompanied by a pledge of Buyers purchased the related Mortgage Loans by the Transaction Subsidiary) and REO Subsidiary Interests. From time to time, Seller may request, 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) Buyer 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. From time to time, Seller may request and Buyer may fund additional Purchase Price Increases in connection with the conveyance of Transaction Mortgage Loans to the Transaction Subsidiary and the corresponding increases of the Purchase Price on account of the Transaction 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 Buyer 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 Buyer to enter into Transactions with Seller. Seller hereby acknowledges that, beyond the Maximum Committed Purchase Price, Administrative Agent on behalf of Buyers Buyer 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 Buyer 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 Buyer 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 Certificates (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. 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 time (i) will facilitate up to an amount not to exceed the Maximum Committed Amount, and provided Seller has satisfied all of the conditions precedent set forth in Section 9(b) at all times any Mortgage Loans or Agency Securities, as applicable, are subject to Transactions, Buyer agrees to purchase by Buyers from Seller of (A) all right, title and interest in and to certain Transaction Mortgage Loans (including, without limitation, the Servicing Rights) that have been either originated by Seller or or, if approved by Buyer, purchased by Seller from other originators originators, which Mortgaged Loans shall also have met requirements set forth in the Addendum and for which the Seller has made the representations and warranties set forth on Schedule 1 hereto, and (B) all right, title and interest in and to certain Agency Securities, and (ii) may fund Buyer may, in the sole discretion of Buyer, purchase additional Purchased Assets from Seller up to the Maximum Uncommitted Amount, including, (A) all right, title and interest in and to certain Mortgage Loans (including, without limitation, the related Servicing Rights) that have been either originated by Seller or, if approved by Buyer, purchased by Seller from other Qualified Originators and (B) all right, title and interest in and to certain Agency Securities; provided, however that Buyer shall not have any obligation to enter into any Transaction with Seller that will cause the Aggregate Purchase Price Increases in connection with of Purchased Assets then subject to Transactions hereunder to exceed the conveyance of Contributed REO Properties to the REO Subsidiary and the corresponding increases of the Maximum Aggregate Purchase Price or the aggregate type of Transactions outstanding at any one time to exceed the applicable limits set forth herein or in the Addendum. The Mortgage Loans shall be sold on account of the REO Subsidiary Interestsa servicing-released basis. This Agreement is a commitment by Committed Buyer to enter into Transactions with Seller up to for an aggregate amount equal up to the Maximum Committed Purchase PriceAmount; provided, that Buyer shall have no obligation to enter into Transactions in respect of the Maximum Uncommitted Amount (in whole or in part). This Except as otherwise provided in the preceding sentence, this Agreement is not a commitment by Administrative Agent on behalf of Buyers Buyer to enter into Transactions with Seller for amounts exceeding in respect of the Maximum Committed Purchase Price, Uncommitted Amount but rather, rather sets forth the procedures to be used in connection with periodic requests for Administrative Agent on behalf of Buyers Buyer to enter into Transactions with Seller. Seller hereby acknowledges that, beyond All Transactions hereunder shall be first deemed committed up to the Maximum Committed Purchase PriceAmount and then the remainder, Administrative Agent on behalf of Buyers is under no obligation if any, shall be deemed uncommitted up 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 AgreementUncommitted Amount. All Transaction Purchased Mortgage Loans shall exceed or meet the Underwriting Guidelines, and shall be serviced by Seller or Servicer, as applicableServicer on the behalf of Buyer. The aggregate 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. 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 (iBuyers) will facilitate the purchase by Buyers from Seller of certain Transaction Mortgage Loans that have either 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 Interestsa Correspondent Seller. This Agreement is a commitment by Administrative Agent on behalf of the Committed Buyer Buyers to enter into Transactions with respect to Mortgage Loans with Seller up to for an aggregate amount equal to the Maximum Regular Way Committed Purchase Price. This Agreement is not a commitment by Administrative Agent on behalf of Buyers to enter into Transactions with respect to Mortgage Loans 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 Administrative Agent on behalf of Buyers to enter into Transactions with Seller. Seller hereby acknowledges that, beyond the Maximum Regular Way Committed Purchase Price, Administrative Agent on behalf of Buyers is under no obligation to agree to enter into, or to enter into, any Transaction with respect to Mortgage Loans 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 Purchased Mortgage Loans shall exceed or meet the Underwriting Guidelines, Guidelines and shall be serviced by Seller or Servicer, as applicable. The aggregate Purchase Price sum of (i) the Purchased Assets (adjusted for any Purchase Price Increases or reductions in Aggregate Purchase Price-Base, as applicable(ii) the Aggregate Purchase Price-Incremental 1 plus (iii) the Aggregate Purchase Price-Incremental 2 (solely for Non-Participated Purchase Price-Incremental 2) shall not exceed the Maximum Regular Way Purchase Price. The Aggregate Purchase Price-Incremental 1 of Purchased Mortgage Loans subject to outstanding Transactions shall not exceed the Maximum Aggregate Purchase Price-Incremental 1. The Aggregate Purchase Price-Incremental 2 of Purchased Mortgage Loans subject to outstanding Transactions shall not exceed the Maximum Aggregate Purchase Price-Incremental 2.

Program; Initiation of Transactions. a. Section 3 of the Existing Repurchase Agreement is hereby amended by deleting subsection (a) in its entirety and replacing it with the following: On the initial Purchase Date, Administrative Agent on behalf of Buyers purchased Buyer will purchase from Seller the REO Subsidiary InterestsPurchased Certificate. From time to time, Seller may request, request and Administrative Agent for the benefit of Buyers (i) Buyer 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 acquisition or transfer of Contributed REO Properties Mortgage Loans by or to the REO Subsidiary Pass-Through Trust Trustee for the Pass-Through Trust and the corresponding increases increase in value of the Purchased Certificate equal to the Purchase Price on account for such Contributed Mortgage Loan as of the REO Subsidiary Interestsrelated Purchase Date. 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 Buyer 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 Buyer to enter into Transactions with Seller. Seller hereby acknowledges that, beyond the Maximum Committed Purchase Price, Administrative Agent on behalf of Buyers Buyer 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 . All related Contributed 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 Certificate (adjusted for any Purchase Price Increases or reductions in and Purchase PricePrice Decreases, as applicable) subject to outstanding Transactions shall not exceed the Maximum Aggregate Purchase Price.