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

Delivery of Additional Collateral or Mandatory Prepayment. Lender shall have the right to redetermine the Collateral Value of each Pledged Mortgage Loan on a daily basis. If Lender shall determine, using industry accepted valuation methods, at any time, that the Collateral Value of a Pledged Mortgage Loan is less than the outstanding principal balance of the related Advance or the aggregate Collateral Value of the Pledged Mortgage Loans is less than the aggregate outstanding principal balance of the Advances, Borrower shall, at Lender's sole option, immediately: (a) deliver to Lender for pledge hereunder additional Mortgage Loans satisfactory to Lender and/or cash, such that the Collateral Value of the additional Mortgage Loans and cash are equal to or greater than the difference between the Collateral Value of the then existing Pledged Mortgage Loans and the aggregate outstanding principal balance of the Advances; or (b) repay one or more Advances in an amount sufficient to reduce the outstanding principal balance thereof to or below the Collateral Value of the Pledged Mortgage Loan(s). Notwithstanding the foregoing, Lender may, in its sole discretion, withdraw from the Over/Under Account amounts to serve as additional security for an Advance pursuant to Section 6.3(a) above or to repay an Advance pursuant to Section 6.3(b) above.

Delivery of Additional Collateral or Mandatory Prepayment. Lender shall have the right to redetermine the Collateral Value of each Pledged Mortgage Loan on a daily basis. If Lender shall determine, using industry accepted valuation methodsin its reasonable discretion, at any time, that the Collateral Value of a Pledged Mortgage Loan is less than the outstanding principal balance of the related Advance or the aggregate Collateral Value of the Pledged Mortgage Loans is less than the aggregate outstanding principal balance of the Advances, Borrower shallshall immediately repay one or more Advances in an amount sufficient to reduce the outstanding principal balance thereof to or below the Collateral Value of the Pledged Mortgage Loan(s), at Lender's sole optionor, immediately: (a) if Borrower requests and Lender consents, deliver to Lender for pledge hereunder additional Mortgage Loans satisfactory to Lender and/or cash, such that the Collateral Value of the additional Mortgage Loans and cash are equal to or greater than the difference between the Collateral Value of the then existing Pledged Mortgage Loans and the aggregate outstanding principal balance of the Advances; or Advances If Borrower does comply with its obligations pursuant to this Section 6.3 within one (b1) repay one or more Advances in an amount sufficient to reduce the outstanding principal balance thereof to or below the Collateral Value Business Day of the Pledged Mortgage Loan(s). Notwithstanding the foregoingBorrower’s receipt of notice from Lender, Lender may, in its sole discretion, withdraw from the Over/Under Account amounts to serve as additional security for an Advance pursuant to Section 6.3(a) above or to repay an Advance pursuant to Section 6.3(b) above.

Delivery of Additional Collateral or Mandatory Prepayment. Lender shall have the right to redetermine the Collateral Value of each Pledged Mortgage Loan on a daily basis. If Lender shall determine, using industry accepted valuation methodsin its reasonable discretion, at any time, that the Collateral Value of a Pledged Mortgage Loan is less than the outstanding principal balance of the related Advance or the aggregate Collateral Value of the Pledged Mortgage Loans is less than the aggregate outstanding principal balance of the Advances, Borrower shall, at Lender's ’s sole option, immediately: (a) deliver to Lender for pledge hereunder additional Mortgage Loans satisfactory to Lender and/or cash, such that the Collateral Value of the additional Mortgage Loans and cash are equal to or greater than the difference between the Collateral Value of the then existing Pledged Mortgage Loans and the aggregate outstanding principal balance of the Advances; or (b) repay one or more Advances in an amount sufficient to reduce the outstanding principal balance thereof to or below the Collateral Value of the Pledged Mortgage Loan(s). Notwithstanding the foregoing, Lender may, in its sole discretion, withdraw from the Over/Under Account amounts to serve as additional security for an Advance pursuant to Section 6.3(a) above or to repay an Advance pursuant to Section 6.3(b) above.

Delivery of Additional Collateral or Mandatory Prepayment. Lender shall have the right to redetermine the Collateral Value of each Pledged Mortgage Loan on a daily basis. If Lender shall determine, using industry accepted valuation methodsin its reasonable discretion, at any time, that the Collateral Value of a Pledged Mortgage Loan is less than the outstanding principal balance of the related Advance or the aggregate Collateral Value of the Pledged Mortgage Loans is less than the aggregate outstanding principal balance of the Advances, Borrower shall, at Lender's sole option, immediately: (a) deliver to Lender for pledge hereunder additional Mortgage Loans satisfactory to Lender and/or cash, such that the Collateral Value of the additional Mortgage Loans and cash are equal to or greater than the difference between the Collateral Value of the then existing Pledged Mortgage Loans and the aggregate outstanding principal balance of the Advances; or (b) repay one or more Advances in an amount sufficient to reduce the outstanding principal balance thereof to or below the Collateral Value of the Pledged Mortgage Loan(s). Notwithstanding the foregoing, Lender may, in its sole discretion, withdraw from the Over/Under Account amounts to serve as additional security for an Advance pursuant to Section 6.3(aSECTION 6.3(A) above or to repay an Advance pursuant to Section 6.3(bSECTION 6.3(B) above.