Common use of Administrative Agent’s Report Clause in Contracts

Administrative Agent’s Report. In the discretion of the Administrative Agent if it reasonably determines that market conditions warrant (except that the Administrative Agent shall have no obligation to make such determination more frequently than once per day), the Administrative Agent may: (1) determine the aggregate Market Values for the Purchased Loans (which may include the Purchase Value of any Mortgage Loans purchased on that day) by summing the values of the individual Purchased Loans as reported on (and recorded by the Administrative Agent from) the Mortgage Loan Transmission Files and Purchased Loans Curtailment Reports, valuing at zero Purchased Loans for which the Administrative Agent has current actual knowledge that a Disqualifier exists; (2) issue a statement of the value of the Purchased Loans as so determined; and (3) provide a copy of such statement to the Seller and each Buyer, provided that, if the Administrative Agent has not provided such a statement to the Seller and each Buyer at least one time in a calendar month, the Administrative Agent shall provide to the Seller and each Buyer a Purchased Loan Report no later than the last Business Day of each month.

Administrative Agent’s Report. In the discretion of the Administrative Agent and Syndication Agent if it either reasonably determines that market conditions warrant (except that the Administrative Agent and Syndication Agent shall have no obligation to make such determination more frequently than once per day), the Administrative Agent and Syndication Agent may: (1) determine the aggregate Market Values for the Purchased Loans (which may include the Purchase Value of any Mortgage Loans purchased on that day) by summing the values of the individual Purchased Loans as reported on (and recorded by the Administrative Agent from) the Mortgage Loan Transmission Files and Purchased Loans Curtailment Reports, valuing at zero Purchased Loans for which the Administrative Agent or Syndication Agent has current actual knowledge that a Disqualifier exists; (2) issue a statement of the value of the Purchased Loans as so determined; and (3) provide a copy of such statement to the Seller and each Buyer, provided that, if the Administrative Agent has not provided such a statement to the Seller and each Buyer at least one time in a calendar month, the Administrative Agent shall provide to the Seller and each Buyer a Purchased Loan Report no later than the last Business Day of each month.