Common use of Retained Loans Clause in Contracts

Retained Loans. Bank shall maintain ownership of the Retained Loans, provided that Bank’s obligations regarding Retained Loans are subject to the limitations specified in Section 2(c)(i) and (iii) below: i) the maximum Outstanding Principal Balance of Retained Loans that the Bank will retain (A) in any calendar month, which shall equal the Maximum Monthly Retention Amount, and (B) in the aggregate for all Retained Loans at any given time during the Term of the Agreement, which shall equal Maximum Outstanding Retention Amount, which limits may be increased by the Bank upon notice to Purchaser but which shall not be decreased by the Bank except with the express written agreement of Purchaser and only upon ninety (90) days’ prior written notice. ii) Each month during the Term, the parties will jointly verify the manner in which the Retained Loans were allocated; iii) Notwithstanding anything to the contrary set forth in this Agreement, Bank shall have no obligation to retain any Loan (A) if retention of such Loan would cause Bank to exceed the Retained Loan Limits or (B) during the Retention Cessation Period.