Common use of Termination by the Buyer Clause in Contracts

Termination by the Buyer. If the Buyer has exercised or is deemed to have exercised the option to terminate any Transactions referred to in Section 18.2, (a) the Seller’s obligations hereunder to repurchase all Purchased Loans in such Transactions shall thereupon become immediately due and payable, (b) to the extent permitted by applicable law, the Repurchase Price with respect to each such Transaction shall be increased by the aggregate amount obtained by daily multiplication of (i) the greater of the Pricing Rate for such Transaction and the Default Pricing Rate by (ii) the Purchase Price for such Transaction as of the Repurchase Date as determined pursuant to Section 18.2 (decreased as of any day by (A) any amounts retained by the Buyer with respect to such Purchase Price pursuant to clause (c) of this Section 18.3, (B) any proceeds from the sale of Purchased Loans pursuant to clause (a) of Section 18.4, and (C) any amounts credited to the account of the Seller pursuant to clause (b) of Section 18.4) on a three hundred sixty (360) day per year basis for the actual number of days during the period from and including the date of the Event of Default giving rise to such option to but excluding the date of payment of the Repurchase Price as so increased, (c) all Income paid after such exercise or deemed exercise shall be payable to and retained by the Buyer and applied to the aggregate unpaid Repurchase Prices owed by the Seller and (d) the Seller shall immediately deliver to the Buyer any documents relating to Purchased Loans subject to such Transactions then in the Seller’s, its Servicer’s or its subservicer’s possession.

Termination by the Buyer. If the Buyer has exercised or is deemed to have exercised the option to terminate any Transactions referred to in Section 18.219.2, (ai) the Seller’s obligations hereunder to repurchase all Purchased Loans in such Transactions shall thereupon become immediately due and payable, (bii) to the extent permitted by applicable lawLaw, the Repurchase Price with respect to each such Transaction shall be increased by the aggregate amount obtained by daily multiplication of (ix) the greater of the Pricing Rate for such Transaction and the Default Pricing Ceiling Rate by (iiy) the Purchase Price for such Transaction as of the Repurchase Date as determined pursuant to Section 18.2 19.2 (decreased as of any day by (A) any amounts retained by the Buyer with respect to such Purchase Price pursuant to clause (ciii) of this Section 18.319.3, (B) any proceeds from the sale of Purchased Loans pursuant to clause (a) of Section 18.419.4(i), and (C) any amounts credited to the account of the Seller pursuant to clause (b) of Section 18.419.4(i)) on a three hundred sixty (360) day per year basis for the actual number of days during the period from and including the date of the Event of Default giving rise to such option to but excluding the date of payment of the Repurchase Price as so increased, (ciii) all Income paid after such exercise or deemed exercise shall be payable to and retained by the Buyer and applied to the aggregate unpaid Repurchase Prices owed by the Seller and (div) the Seller shall immediately deliver to the Buyer any documents and Purchased Loans Records relating to Purchased Loans subject to such Transactions then in the Seller’s, its Servicer’s or its subservicerServicer’s possession.

Termination by the Buyer. If the Buyer has exercised or is deemed to have exercised the option to terminate any Transactions referred to in Section 18.219.2, (ai) the Seller’s obligations hereunder to repurchase all Purchased Loans in such Transactions shall thereupon become immediately due and payable, (bii) to the extent permitted by applicable lawLaw, the Repurchase Price with respect to each such Transaction shall be increased by the aggregate amount obtained by daily multiplication of (ix) the greater of the Pricing Rate for such Transaction and the Default Pricing Ceiling Rate by (iiy) the Purchase Price for such Transaction as of the Repurchase Date as determined pursuant to Section 18.2 19.2 (decreased as of any day by (A) any amounts retained by the Buyer with respect to such Purchase Price pursuant to clause (ciii) of this Section 18.319.3, (B) any proceeds from the sale of Purchased Loans pursuant to clause (a) of Section 18.419.4(i), and (C) any amounts credited to the account of the Seller pursuant to clause (b) of Section 18.419.4(i)) on a three hundred sixty (360) day per year basis for the actual number of days during the period from and including the date of the Event of Default giving rise to such option to but excluding the date of payment of the Repurchase Price as so increased, (ciii) all Income paid after such exercise or deemed exercise shall be payable to and retained by the Buyer and applied to the aggregate unpaid Repurchase Prices owed by the Seller and (div) the Seller shall immediately deliver to the Buyer any documents and Purchased Loans Records relating to Purchased Loans subject to such Transactions then in the Seller’s, its Servicer’s or its subservicer’s possession.