Common use of Transaction Sublimits Clause in Contracts

Transaction Sublimits. The following sublimits shall also be applicable to the Transactions hereunder such that after giving effect to any proposed Transaction and after giving effect to any repurchase, addition or substitution of any Mortgage Loan hereunder, the following shall be true: (a) The Aggregate Outstanding Purchase Price of Conforming Mortgage Loans may be as much as one hundred percent (100%) of the Maximum Aggregate Commitment (the “Conforming Loan Sublimit”). (b) The Aggregate Outstanding Purchase Price of all Purchased Loans that are Wet Loans shall not exceed (x) fifty percent (50%) of the Maximum Aggregate Commitment on any of the first five and last five Business Days of any month or (y) thirty-five percent (35%) of the Maximum Aggregate Commitment on any other day (the “Wet Loans Sublimit”). (c) The Aggregate Outstanding Purchase Price of all Purchased Loans that are of the type listed in the first column of the following table shall not exceed the percentage of the Maximum Aggregate Commitment or amount listed in the second column of the table (the name of that Sublimit is set forth in the third column). (d) The Aggregate Outstanding Purchase Price of all Purchased Loans that are Jumbo Mortgage Loans or Super Jumbo Loans shall not exceed the greater of Five Million Dollars ($5,000,000) or five percent (5%) of the Maximum Aggregate Commitment on any day (“Jumbo/Super Jumbo Loans Sublimit”).

Transaction Sublimits. The following sublimits shall also be applicable to the Transactions hereunder such that after giving effect to any proposed Transaction and after giving effect to any repurchase, addition or substitution of any Mortgage Loan hereunder, the following shall be true:true (subject, in each case, to the Agent’s discretionary authority under Section 22.5): (a) The Aggregate Outstanding Purchase Price of Conforming Mortgage Loans may be as much as one hundred percent (100%) of the Maximum Aggregate Commitment (the “Conforming Loan Sublimit”)Commitment. (b) The Aggregate Outstanding Purchase Price of all Purchased Loans that are Wet Loans shall not exceed (x) fifty seventy-five percent (5075%) of the Maximum Aggregate Commitment on any of the first five and last five Business Days of any month or (y) thirty-five forty percent (3540%) of the Maximum Aggregate Commitment on any other day (the “Wet Loans Sublimit”). (c) The Aggregate Outstanding Purchase Price of all Purchased Loans that are of the type listed in the first column of the following table shall not exceed the percentage of the Maximum Aggregate Commitment or amount listed in the second column of the table (the name of that Sublimit is set forth in the third column).): Jumbo Mortgage Loans 25% “Jumbo Mortgage Loans Sublimit” Agency-eligible Forty Year Loans 10% “Agency-eligible Forty Year Loans Sublimit” (d) The Aggregate Outstanding Purchase Price of all Value for any Purchased Loans that are Jumbo Mortgage Loans or Super Jumbo Loans Loan hereunder shall not exceed the greater of Five be more than One Million Dollars ($5,000,000) or five percent (5%) of the Maximum Aggregate Commitment on any day (“Jumbo/Super Jumbo Loans Sublimit”1,000,000).

Transaction Sublimits. The following sublimits shall also be applicable to the Transactions hereunder such that after giving effect to any proposed Transaction and after giving effect to any repurchase, addition or substitution of any Mortgage Loan hereunder, the following shall be true:true (subject, in each case, to the Agent’s discretionary authority under Section 22.5): (a) The Aggregate Outstanding Purchase Price of Conforming Mortgage Loans may be as much as one hundred percent (100%) of the Maximum Aggregate Commitment (the “Conforming Loan Sublimit”)Commitment. (b) The Aggregate Outstanding Purchase Price of all Purchased Loans that are Wet Loans shall not exceed (x) fifty seventy-five percent (5075%) of the Maximum Aggregate Commitment on any of the first five and last five Business Days of any month or (y) thirty-five forty percent (3540%) of the Maximum Aggregate Commitment on any other day (the “Wet Loans Sublimit”). (c) The Aggregate Outstanding Purchase Price of all Purchased Loans that are of the type listed in the first column of the following table shall not exceed the percentage of the Maximum Aggregate Commitment or amount listed in the second column of the table (the name of that the Sublimit is set forth in the third column).; provided, that such sublimits shall not apply to any Mortgage Loan (USBHM): (d) The Aggregate Outstanding Purchase Price of all Purchased Loans that are Jumbo Mortgage Loans or Super Jumbo Loans shall not exceed the greater of Five Million Dollars ($5,000,000) or five percent (5%) of the Maximum Aggregate Commitment on any day (“Jumbo/Super Jumbo Loans Sublimit”)[Intentionally Omitted.]