Common use of Delivery of Additional Collateral or Mandatory Prepayment Clause in Contracts

Delivery of Additional Collateral or Mandatory Prepayment. At least once a week during the term of this Agreement (or more often in the discretion of the Agent if it reasonably determines that market conditions warrant) and whenever a Request for Borrowing is made by the Companies (except that the Agent shall have no obligation to make such determination more frequently than once per day), the Agent shall: (i) determine the aggregate Collateral Values for the Borrowing Base for each Category of Collateral (including the Collateral Value of any Collateral pledged on that day) Pledged to the Agent under this Agreement by summing the values of the individual items of Collateral as reported on (and recorded by the Agent from) the Companies’ Submission Lists and Pledged Loans Curtailment Reports, valuing at zero Collateral for which the Agent has current actual knowledge that a Disqualifier exists; (ii) issue a statement of the value of each Borrowing Base as so determined; and (iii) provide a copy of that certificate to the Companies. If the Agent shall determine on any day that the Borrowing Base is less than the outstanding Borrowings, then the Companies shall immediately (by no later than the next Business Day after the Agent’s request) either: (a) Pledge to the Agent additional Collateral and deliver to the Custodian all Basic Papers for any such additional Collateral (such delivery to the Custodian may be deferred for up to seven (7) Business Days for any Wet Loans Pledged to the Agent as additional Collateral) and/or; (b) after giving effect to the Collateral Value of any additional Collateral Pledged to the Agent and delivered to the Agent pursuant to Section 7.7(a), pay to the Agent cash for Pro Rata distribution to the Lenders, in aggregate amounts sufficient to cover the sum of the excess of each of (i) the sum of all Borrowings outstanding over (ii) the Collateral Value of the Borrowing Base provided, that the Companies may not elect under the provisions of Section 7.7(a) (and instead must make a cash paydown pursuant to Section 7.7(b)) if any Default or Event of Default has occurred that the Agent has not declared in writing to have been cured or waived.

Delivery of Additional Collateral or Mandatory Prepayment. At least once a week during the term of this Agreement (or more often in the discretion of the Agent Lender if it reasonably determines that market conditions warrant) and whenever a Borrowing Request for Borrowing is made by the Companies a Borrower (except that the Agent Lender shall have no obligation to make such determination more frequently than once per day), the Agent Lender shall: (i) determine the aggregate Collateral Values for the Borrowing Base for each Category of Collateral (including the Collateral Value of any Collateral pledged on that day) Pledged to the Agent Lender under this Agreement by summing the values of the individual items of Eligible Collateral as reported on (and recorded by the Agent Lender from) the Companies’ a Borrower's Submission Lists and Pledged Loans Curtailment Reports, valuing at zero Eligible Collateral for which the Agent Lender has current actual knowledge that a Disqualifier exists; (ii) issue a statement of the value of each Borrowing Base as so determined; and (iii) provide a copy of that certificate to the CompaniesBorrower upon its request. If the Agent Lender shall determine on any day that the Borrowing Base is less than the outstanding Borrowings, then the Companies Borrowers shall immediately (by no later than the next Business Day after the Agent’s Lender's request) either: (a) Pledge to the Agent Lender additional Collateral and deliver to the Custodian all Basic Papers Required Documents for any such additional Collateral (delivery of such delivery Required Documents to the Custodian may be deferred for up to seven (7) Business Days for any Wet Loans Pledged to the Agent Lender as additional Collateral) and/or; (b) after giving effect to the Collateral Value of any additional Collateral Pledged to the Agent Lender and delivered to the Agent Lender pursuant to Section 7.7(a7.3(a), pay to the Agent Lender cash for Pro Rata distribution to the Lenders, in an aggregate amounts amount sufficient to cover the sum of the excess of each of (i) the sum of all Borrowings outstanding over (ii) the Collateral Value of the Borrowing Base provided, that the Companies Borrowers may not elect under the provisions of Section 7.7(a7.3(a) (and instead must make a cash paydown pursuant to Section 7.7(b7.3(b)) if any Default or Event of Default has occurred that the Agent Lender has not declared in writing to have been cured or waived.

Delivery of Additional Collateral or Mandatory Prepayment. At least once a week during the term of this Agreement (or more often in the discretion of the Seasoned Warehouse Agent if it reasonably determines that market conditions warrant) and whenever a Request for Borrowing Advance is made by the Companies Borrowers (except that the Seasoned Warehouse Agent shall have no obligation to make such determination more frequently than once per day), the Seasoned Warehouse Agent shall: shall (i) determine pursuant to SCHEDULE BB the aggregate values of the Collateral Values for comprising the portions of the Borrowing Base for allocable to each Category class of Collateral (either (i) Eligible Foreclosure/REO/Repurchase Collateral or (ii) other Eligible Collateral, including the Collateral Value of any Collateral pledged on that day) Pledged to the Seasoned Warehouse Agent under this Agreement by summing the values of the individual items of Collateral as reported on (and recorded by the Agent from) the Companies’ Submission Lists and Pledged Loans Curtailment ReportsAgreement, valuing at zero Collateral for which the Agent has current actual knowledge that a Disqualifier exists; (ii) issue to the Seasoned Warehouse Lenders a statement Borrowing Base Report stating separately the Seasoned Warehouse Agent's determination of the value portion of each the Borrowing Base as so determined; and attributable to each such class of Collateral and (iii) provide a copy of that certificate to the CompaniesBorrowers. If the Seasoned Warehouse Agent shall determine on any day that the Borrowing Base is less than the outstanding BorrowingsRevolving Loans, then the Companies shall immediately (by no later than the next Business Day after the Agent’s request) either: (a) Pledge to the Seasoned Warehouse Agent additional Collateral and deliver to the Custodian all Basic Papers for any such additional Collateral (such delivery to the Custodian may be deferred for up to seven (7) Business Days for any Wet Loans Pledged to the Agent as additional Collateral) ; and/or; (b) after giving effect to the Collateral Value value of any additional Collateral Pledged to the Agent and delivered to the Agent pursuant to Section 7.7(a)Seasoned Warehouse Agent, pay to the Seasoned Warehouse Agent cash for Pro Rata distribution to the Seasoned Warehouse Lenders, ; in aggregate amounts sufficient to cover the sum of completely eliminate the excess of each of (i) the sum of all Borrowings Seasoned Warehouse Revolving Loans outstanding over (ii) the Collateral Value of the Borrowing Base Base; provided, that the Companies may not elect under the provisions of Section 7.7(aSECTION 8.2(a) (and instead must make a cash paydown pursuant to Section 7.7(bSECTION 8.2(b)) if any Default or Event of Default has occurred that the Seasoned Warehouse Agent has not declared in writing to have been cured or waived.

Delivery of Additional Collateral or Mandatory Prepayment. At least once a week during the term of this Agreement (or more often in the discretion of the Agent if it reasonably determines that market conditions warrant) and whenever a Request for Borrowing Advance is made by the Companies a Company (except that the Agent shall have no obligation to make such determination more frequently than once per day), the Agent shall: shall (i) determine the aggregate sum of the Collateral Values for the Single-Family Borrowing Base for each Category of Collateral (including the Collateral Value of any Single-family Collateral pledged on that day) of Eligible Single-family Collateral Pledged to the Agent under this Agreement by summing the values of the individual items of Single-family Collateral as reported on (and recorded by the Agent from) the Companies’ ' Submission Lists and Pledged Loans Curtailment Reports, Reports (valuing at zero Collateral for which the Agent has current actual knowledge that a Disqualifier exists; exists except as to disqualified Collateral for which the Agent elects to exercise its discretionary authority under -- and within the limit prescribed by -- Section 14.4(b) to count and treat such disqualified Collateral as if no Disqualifier applied to it and using the Market Value of such Collateral, if any, as the Agent shall have elected to xxxx to market), (ii) issue a statement of the value of each the Single-family Borrowing Base as so determined; and determined and (iii) provide a copy of that certificate statement to the Companies. If the Agent shall determine on any day such statement indicates that the Single Family Borrowing Base is less than the outstanding BorrowingsSingle-family Advances, then the Companies shall immediately (by no later than the next Business Day after the Agent’s request) either: (a) Pledge to the Agent additional Collateral and deliver to the Custodian all Basic Papers for any such additional Collateral (such delivery to the Custodian may be deferred for up to seven five (75) Business Days for any Wet Loans Pledged to the Agent as additional Single-family Collateral) and/or; (b) after giving effect to the Collateral Value of any additional Collateral Pledged to the Agent and delivered to the Agent pursuant to Section 7.7(a7.3(a), pay to the Agent cash for Pro Rata distribution to the Lenders, in aggregate amounts sufficient to cover the sum of the excess of each of (i) the sum of all Borrowings Single-family Advances outstanding over (ii) the Collateral Value of all Eligible Single-family Collateral then Pledged to the Borrowing Base Agent. provided, that the Companies may not elect under the provisions of Section 7.7(a7.3(a) (and instead must make a cash paydown pursuant to Section 7.7(b7.3(b)) if any Default or Event of Default has occurred that the Agent has not declared in writing to have been cured or waived.

Delivery of Additional Collateral or Mandatory Prepayment. At least once a week during the term of this Agreement (or more often in the discretion of the Agent if it reasonably determines that market conditions warrant) and whenever a Request for Borrowing is made by the Companies Company (except that the Agent shall have no obligation to make such determination more frequently than once per day), the Agent shall: shall (i) determine pursuant to SECTION 1.2 the aggregate Collateral Values for the Borrowing Base for each Category type of Collateral (including the Collateral Value of any Collateral pledged on that day) Pledged to the Agent under this Agreement by summing Agreement, (ii) issue to the values Lenders a current certificate stating separately the Agent's determination of the individual items Borrowing Base for each type of Collateral as reported on (and recorded by the Agent from) the Companies’ Submission Lists and Pledged Loans Curtailment Reports, valuing at zero Collateral for which the Agent has current actual knowledge made such determination (the Agent shall be required to make such determination when a Request for Borrowing is made only as to the Borrowing Base(s) relevant to that a Disqualifier exists; (iiRequest for Borrowing) issue a statement of the value of each Borrowing Base as so determined; and and (iii) provide a copy of that certificate to the CompaniesCompany. If the Agent shall determine on any day that the any Borrowing Base is less than the outstanding BorrowingsAdvances under the related Subline, then the Companies Company shall immediately (by no later than the next Business Day after the Agent’s 's request) either: (a) Pledge to the Agent additional Collateral of the relevant type and deliver to the Custodian all Basic Papers for any such additional Collateral (such delivery to the Custodian may be deferred for up to seven five (75) Business Days for any Wet Bridged Loans Pledged to the Agent as additional Collateral) and/or; (b) after giving effect to the Collateral Value of any additional Collateral Pledged to the Agent and delivered to the Agent pursuant to Section 7.7(aSECTION 6.3(A), pay to the Agent cash for Pro Rata distribution to the Lenders, in aggregate amounts sufficient to cover the sum of the excess of each of (i) the sum of all Borrowings Advances outstanding under each Subline over (ii) the Collateral Value of all Eligible Collateral Pledged to the Borrowing Base Agent for borrowing against under that same Subline. provided, that the Companies Company may not elect under the provisions of Section 7.7(aSECTION 6.3(A) (and instead must make a cash paydown pursuant to Section 7.7(bSECTION 6.3(B)) if any Default or Event of Default has occurred that the Agent has not declared in writing to have been cured or waived.

Delivery of Additional Collateral or Mandatory Prepayment. At least once a week during the term of this Agreement (or more often in the discretion of the Agent if it reasonably determines that market conditions warrant) and whenever a Request for Borrowing is made by the Companies Company (except that the Agent shall have no obligation to make such determination more frequently than once per day), the Agent shall: (ia) determine the aggregate Collateral Values for the Borrowing Base for each Category of Collateral (including the Collateral Value of any Collateral pledged on that day) Pledged to the Agent under this Agreement by summing the values of the individual items of Collateral as reported on (and recorded by the Agent from) the Companies’ Company's Submission Lists and Pledged Loans Curtailment Reports, valuing at zero Collateral for which the Agent has current actual knowledge that a Disqualifier exists; (iib) issue a statement of the value of each Borrowing Base as so determined; and (iiic) provide a copy of that certificate to the CompaniesCompany. If the Agent shall determine on any day that the Borrowing Base is less than the outstanding Borrowings, then the Companies Company shall immediately (by no later than the next Business Day after the Agent’s 's request) either: (a1) Pledge to the Agent additional Collateral and deliver to the Custodian all Basic Papers for any such additional Collateral (delivery of such delivery Basic Papers to the Custodian may be deferred for up to seven (7) Business Days for any Wet Loans Pledged to the Agent as additional Collateral) and/or; (b2) after giving effect to the Collateral Value of any additional Collateral Pledged to the Agent and delivered to the Agent pursuant to Section 7.7(aSECTION 6.3(c)(1), pay to the Agent cash for Pro Rata distribution to the Lenders, in aggregate amounts sufficient to cover the sum of the excess of each of (i) the sum of all Borrowings outstanding over (ii) the Collateral Value of the Borrowing Base provided, that the Companies Company may not elect under the provisions of Section 7.7(aSECTION 6.3(c)(1) (and instead must make a cash paydown pursuant to Section 7.7(bSECTION 6.3(c)(2)) if any Default or Event of Default has occurred that the Agent has not declared in writing to have been cured or waived.

Delivery of Additional Collateral or Mandatory Prepayment. At least once a week during the term of this Agreement (or more often in the discretion of the Agent if it reasonably determines that market conditions warrant) and whenever a Request for Borrowing is made by the Companies Company (except that the Agent shall have no obligation to make such determination more frequently than once per day), the Agent shall: (i) determine the aggregate Collateral Values for the Borrowing Base for each Category of Collateral (including the Collateral Value of any Collateral pledged on that day) Pledged to the Agent under this Agreement by summing the values of the individual items of Collateral as reported on (and recorded by the Agent from) the Companies’ Company’s Submission Lists and Pledged Loans Curtailment Reports, valuing at zero Collateral for which the Agent has current actual knowledge that a Disqualifier exists; (ii) issue a statement of the value of each Borrowing Base as so determined; and (iii) provide a copy of that certificate to the CompaniesCompany. If the Agent shall determine on any day that the Borrowing Base is less than the outstanding Borrowings, then the Companies Company shall immediately (by no later than the next Business Day after the Agent’s request) either: (a) Pledge to the Agent additional Collateral and deliver to the Custodian all Basic Papers for any such additional Collateral (such delivery to the Custodian may be deferred for up to seven (7) Business Days for any Wet Loans Pledged to the Agent as additional Collateral) and/or; (b) after giving effect to the Collateral Value of any additional Collateral Pledged to the Agent and delivered to the Agent pursuant to Section 7.7(a6.6(a), pay to the Agent cash for Pro Rata distribution to the Lenders, in aggregate amounts sufficient to cover the sum of the excess of each of (i) the sum of all Borrowings outstanding over (ii) the Collateral Value of the Borrowing Base provided, that the Companies Company may not elect under the provisions of Section 7.7(a6.6(a) (and instead must make a cash paydown pursuant to Section 7.7(b6.6(b)) if any Default or Event of Default has occurred that the Agent has not declared in writing to have been cured or waived.

Delivery of Additional Collateral or Mandatory Prepayment. At least once a week during the term of this Agreement (or more often in the discretion of the Agent if it reasonably determines that market conditions warrant) and whenever a Request for Borrowing is made by the Companies Company (except that the Agent shall have no obligation to make such determination more frequently than once per day), the Agent shall: shall (i) determine pursuant to SECTION 1.2 the aggregate Collateral Values for the Borrowing Base for each Category type of Collateral (including the Collateral Value of any Collateral pledged on that day) Pledged to the Agent under this Agreement by summing Agreement, (ii) issue to the values Lenders a current certificate stating separately the Agent's determination of the individual items Borrowing Base for each type of Collateral as reported on (and recorded by the Agent from) the Companies’ Submission Lists and Pledged Loans Curtailment Reports, valuing at zero Collateral for which the Agent has current actual knowledge made such determination (the Agent shall be required to make such determination when a Request for Borrowing is made only as to the Borrowing Base(s) relevant to that a Disqualifier exists; (iiRequest for Borrowing) issue a statement of the value of each Borrowing Base as so determined; and and (iii) provide a copy of that certificate to the CompaniesCompany. If the Agent shall determine on any day that the any Borrowing Base is less than the outstanding BorrowingsAdvances under the related Subline, then the Companies Company shall immediately (by no later than the next Business Day after the Agent’s 's request) either: (a) Pledge to the Agent additional Collateral of the relevant type and deliver to the Custodian all Basic Papers for any such additional Collateral (such delivery to the Custodian may be deferred for up to seven five (75) Business Days for any Wet Bridged Loans Pledged to the Agent as additional Collateral) and/or; (b) after giving effect to the Collateral Value of any additional Collateral Pledged to the Agent and delivered to the Agent pursuant to Section 7.7(aSECTION 6.3(a), pay to the Agent cash for Pro Rata distribution to the Lenders, in aggregate amounts sufficient to cover the sum of the excess of each of (i) the sum of all Borrowings Advances outstanding under each Subline over (ii) the Collateral Value of all Eligible Collateral Pledged to the Borrowing Base Agent for borrowing against under that same Subline. provided, that the Companies Company may not elect under the provisions of Section 7.7(aSECTION 6.3(a) (and instead must make a cash paydown pursuant to Section 7.7(bSECTION 6.3(b)) if any Default or Event of Default has occurred that the Agent has not declared in writing to have been cured or waived.

Delivery of Additional Collateral or Mandatory Prepayment. At least once a week during the term of this Agreement (or more often in the discretion of the Agent if it reasonably determines that market conditions warrant) and whenever a Request for Borrowing is made by the Companies Company (except that the Agent shall have no obligation to make such determination more frequently than once per day), the Agent shall: (ia) determine the aggregate Collateral Values for the Borrowing Base for each Category of Collateral (including the Collateral Value of any Collateral pledged on that day) Pledged to the Agent under this Agreement by summing the values of the individual items of Collateral as reported on (and recorded by the Agent from) the Companies’ Company’s Submission Lists and Pledged Loans Curtailment Reports, valuing at zero Collateral for which the Agent has current actual knowledge that a Disqualifier exists; (iib) issue a statement of the value of each Borrowing Base as so determined; and (iiic) provide a copy of that certificate to the CompaniesCompany. If the Agent shall determine on any day that the Borrowing Base is less than the outstanding Borrowings, then the Companies Company shall immediately (by no later than the next Business Day after the Agent’s request) either: (a1) Pledge to the Agent additional Collateral and deliver to the Custodian all Basic Papers for any such additional Collateral (delivery of such delivery Basic Papers to the Custodian may be deferred for up to seven five (75) Business Days for any Wet Loans Pledged to the Agent as additional Collateral) and/or; (b2) after giving effect to the Collateral Value of any additional Collateral Pledged to the Agent and delivered to the Agent pursuant to Section 7.7(a6.3(c)(1), pay to the Agent cash for Pro Rata distribution to the Lenders, in aggregate amounts sufficient to cover the sum of the excess of each of (i) the sum of all Borrowings outstanding over (ii) the Collateral Value of the Borrowing Base provided, that the Companies Company may not elect under the provisions of Section 7.7(a6.3(c)(1) (and instead must make a cash paydown pursuant to Section 7.7(b6.3(c)(2)) if any Default or Event of Default has occurred that the Agent has not declared in writing to have been cured or waived.