Transaction Request Procedure Sample Clauses
Transaction Request Procedure. (a) Any Seller may request a Transaction hereunder, on any Business Day during the period from and including the Effective Date to and including the Termination Date, by delivering to the Buyer, with a copy to the Custodian, a Transaction Request, which Transaction Request must be received by the Buyer prior to 4:00 p.m., New York City time, one (l) Business Day prior to the requested Purchase Date. Such request for borrowing shall (i) attach a schedule identifying the Eligible Mortgage Loans that the Seller proposes to sell to the Buyer and to be included in the Margin Base in connection with such Transaction, (ii) specify the requested Purchase Date, (iii) be accompanied by a Mortgage Loan Data File containing information with respect to the Eligible Mortgage Loans that the Seller proposes to sell to the Buyer and to be included in the Margin Base in connection with such Transaction and (iv) attach an officer’s certificate signed by a Responsible Officer of each Seller as required by Section 5.02(b) hereof.
(b) The Seller shall release to the Custodian no later than 4:00 p.m., New York City time, two (2) Business Days prior to the requested Purchase Date, the Mortgage File pertaining to each Eligible Mortgage Loan to be sold to the Buyer and included in the Margin Base on such requested Purchase Date, in accordance with the terms and conditions of the Custodial Agreement.
Transaction Request Procedure. (Wet-Ink Transactions).
(a) With respect to each Wet-Ink Transaction, a Seller may request a Wet-Ink Transaction hereunder, on any Business Day during the Commitment Period, provided that no Margin Deficiency then exists due to the inclusion of Eight-Day Aged Wet-Ink Mortgage Loans in the Margin Base on such date, by delivering to the Agent, an estimate of the amount required to fund such Wet-Ink Transaction on the following Business Day, which estimate must be received by the Buyer prior to 5:00 p.m., New York City time, one (1) Business Day prior to the requested Purchase Date.
(b) Not later than 12:00 p.m., New York City time, on the requested Purchase Date, the Seller shall deliver to the Agent, with a copy to the Custodian, a transmission with respect to the Wet-Ink Transaction requested to be entered into on such date, which transmission shall (i) attach a Transaction Request, (ii) attach a schedule identifying the Eligible Mortgage Loans that such Seller proposes to sell to the Buyers hereunder in connection with such Wet-Ink Transaction, (iii) specify the requested Purchase Price and (iv) attach an officer's certificate signed by a Responsible Officer of such Seller as required by Section 5.02(b) hereof, which shall include a certification by such Responsible Officer that the Wet-Ink Mortgage Loan has been closed and the proceeds thereof have been fully disbursed. Pursuant to the Custodial Agreement, the Custodian shall deliver to the Agent and the applicable Seller, in connection with each such transmission, a Mortgage Loan Schedule in respect of all Purchased Loans acquired on such Purchase Date.
(c) The applicable Seller shall deliver (or cause to be delivered) and release to the Custodian the Mortgage File pertaining to such Wet-Ink Mortgage Loan on the next Business Day following receipt of such Mortgage File by such Seller, but in any event no later than seven (7) Business Days following the applicable Purchase Date in accordance with the terms and conditions of the Custodial Agreement. On the applicable Purchase Date and on each Business Day following the applicable Purchase Date, no later than 5:00 p.m., New York City time, pursuant to the Custodial Agreement, the Custodian shall deliver to the Agent a schedule listing each Wet-Ink Mortgage Loan with respect to which the complete Mortgage File has not been received by the Custodian as of 3:00 p.m., New York City time (the "Wet-Ink Aged Report"). On the applicable Purchase Date, the Agent sh...