DETERMINATION OF MARKET VALUE. Custodian shall obtain the Market Value of all Assets to be transferred to Buyer’s Account with respect to a Transaction from the most recently delivered Asset Tape, or from Seller or Buyer as provided in the definition of Market Value. Custodian shall exclude from the determination of the Market Value and return to Seller’s Account any Assets that (x) do not constitute Eligible Assets (including those Assets as to which Buyer and Seller are disputing the Market Value and such dispute is not resolved by 4:30 p.m.), (y) otherwise do not meet the criteria set forth in Section 3(a)(i) or (z) do not conform to Seller’s instructions provided to Custodian under Section 2(a). If the Market Value of Eligible Assets to be transferred to Buyer’s Account on any Purchase Date is less than the Repurchase Price with respect to the Transaction the Repurchase Date for which is the same date, Custodian shall immediately notify Seller, and Seller shall deliver Additional Purchased Assets and/or Cash to Seller’s Account in an amount sufficient to cure the shortfall by no later than 5:00 p.m. on such Purchase Date.
Appears in 4 contracts
Samples: Repurchase Agreement (loanDepot, Inc.), Repurchase Agreement (loanDepot, Inc.), Master Repurchase Agreement (loanDepot, Inc.)
