Average Collateral LTV definition
Average Collateral LTV means, with respect to all Purchased Loans as of any date of determination, the weighted average of the Average LTVs of the Purchased Loans, equal to (i) the sum for all Purchased Loans of the Average LTV of each Purchased Loan multiplied by the Repurchase Price of such Purchased Loan (exclusive of Other Price Components) divided by (ii) the aggregate of the Repurchase Prices (exclusive of Other Price Components) for all Purchased Loans, as determined by Buyer in its sole discretion, exercised in good faith. For example, if there are two Purchased Loans outstanding under the facility established under this Agreement, and one has an Average LTV of 0.30 with a $100 Repurchase Price (exclusive of Other Price Components), and the other has an Average LTV of 0.40 with a $300 Repurchase Price (exclusive of Other Price Components), the Average Collateral LTV is: ($100)(0.30) + ($300)(0.40)/$100 + $300 = $30 + $120/$400 = $150/$400 = 0.375