Common use of Program; Initiation of Transactions Clause in Contracts

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. From time to time, in the sole discretion of Buyer, Buyer will purchase from Seller Sellers certain Mortgage Loans that have been either originated by Seller Sellers or purchased by Seller Sellers from other originators. THIS AGREEMENT IS NOT A COMMITMENT BY BUYER TO ENTER INTO TRANSACTIONS WITH SELLER SELLERS BUT RATHER SETS FORTH THE PROCEDURES TO BE USED IN CONNECTION WITH PERIODIC REQUESTS FOR BUYER TO ENTER INTO TRANSACTIONS WITH SELLERSELLERS. EACH 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 SELLERS AT LEAST 60 DAYS PRIOR WRITTEN NOTICE OF ITS DECISION NOT TO ENTER INTO ANY ADDITIONAL TRANSACTIONS HEREUNDER.. HEREUNDER UNLESS SUCH DECISION IS A RESULT OF FAILURE BY A SELLER TO SATISFY A CONDITION PRECEDENT. 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. From time to time, in the sole discretion of Buyer, Buyer will purchase from Seller Sellers certain Mortgage Loans that have been either originated by either Seller or purchased by either Seller from other originators. THIS AGREEMENT IS A COMMITMENT BY BUYER TO ENTER INTO TRANSACTIONS WITH THE SELLER FOR AN AMOUNT EQUAL TO THE MAXIMUM COMMITTED PURCHASE PRICE. THIS AGREEMENT IS NOT A COMMITMENT BY BUYER TO ENTER INTO TRANSACTIONS WITH THE SELLER FOR AMOUNTS EXCEEDING THE MAXIMUM COMMITTED PURCHASE PRICE BUT RATHER SETS FORTH THE PROCEDURES TO BE USED IN CONNECTION WITH PERIODIC REQUESTS FOR BUYER TO ENTER INTO TRANSACTIONS WITH THE SELLER. SELLER HEREBY ACKNOWLEDGES THAT THAT, BEYOND THE MAXIMUM COMMITTED PURCHASE PRICE, 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. From time to timeThe Buyer previously purchased the Trust Certificates from Seller. On the initial Purchase Date under this Agreement, in the sole discretion of Buyer, Buyer will purchase the REO Certificates and the SFR Certificates from the applicable Sellers. This Agreement is a commitment by Buyer to enter into Transactions and Purchase Price Increases with Sellers for an aggregate amount up to the Maximum Available Purchase Price. This Agreement is not a commitment by Buyer to enter into Transactions or Purchase Price Increases with each Seller certain for amounts exceeding the Maximum Available 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 Sellers. Sellers 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 Available Purchase Price. All Contributed 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 ServicerServicers. All Contributed Rental Properties and Contributed REO Properties shall be managed by the Property Manager. The aggregate Purchase Price (including Purchase Price Increases) of Purchased Mortgage Loans Assets subject to outstanding Transactions shall not exceed the Maximum Aggregate Available Purchase Price.