Funding Requests and Collateral Reporting. (a) Except with respect to a Next Day Funding or a Same Day Funding (each as defined below), no later than five (5) Business Days prior to each Funding Date, the Borrower shall deliver to the Lender a Borrower Funding Request accompanied by (i) a Servicing Schedule identifying all Eligible Servicing Rights to be pledged to Lender as Collateral under the terms and conditions of this Agreement and all Agency Obligations outstanding on the related Funding Date, and (ii) any other information reasonably requested by Xxxxxx and available to the Borrower with respect to either the Eligible Servicing Rights or any proposed acquisition of additional Servicing Rights by Xxxxxxxx. Borrower may request an additional Loan (a “Next Day Funding”) solely with respect to Eligible Servicing Rights that (a) have previously been pledged (and remain pledged) as Collateral and (b) were included in the monthly reporting provided to Lender and Valuation Agent for the previous calendar month for purposes of calculating the value of the Eligible Servicing Rights, by providing the following to Lender: (i) prior to 12:00 noon (eastern time) on the Business Day prior to the requested Funding Date, an initial written request for funding setting forth the requested funding amount (which may be in the form of a range), together with a statement from Borrower that to the best of Borrower’s knowledge there are no additional material Agency Obligations with respect to the Collateral since the date of the delivery by Borrower of the previous Agency Obligations report, and (ii) prior to 11:00 am (eastern time) on the requested Funding Date, a final Borrower Funding Request setting forth the specific requested Loan amount. Borrower may request an additional Loan in an aggregate amount not to exceed $50,000,000 unless otherwise approved by Xxxxxx (a “Same Day Funding”) solely with respect to Eligible Servicing Rights that (a) have previously been pledged (and remain pledged) as Collateral and (b) were included in the monthly reporting provided to Lender and Valuation Agent for the previous calendar month for purposes of calculating the value of the Eligible Servicing Rights, by providing to Lender prior to 12:00 noon (eastern time) on the requested Funding Date, a final Borrower Funding Request setting forth the specific requested Loan amount, together with a statement from Borrower that to the best of Borrower’s knowledge there are no additional material Agency Obligations with respect to the...
Funding Requests and Collateral Reporting. (a) On any Funding Notice Date, Borrower may request Lender to make a Loan on the related Funding Date by delivering to Lender a Borrower Funding Request no later than 3:00 p.m. (New York City time) on such Funding Notice Date which shall become irrevocable by Borrower on or after 2:00 p.m. (New York City time) [***] Business Day prior to the related Funding Date. The amount of any Loan requested pursuant to a Borrower Funding Request shall be not greater than the related Available Loan Amount and shall not result in the Outstanding Aggregate Loan Amount exceeding the lesser of (i) the Borrowing Base and (ii) the sum of the Committed Amount plus the Uncommitted Amount. Lender shall have the obligation, subject to the terms and conditions of the Facility Documents, to enter into Loans with an aggregate outstanding amount of up to the Committed Amount and shall have no obligation to enter into Loans with respect to the Uncommitted Amount; provided that Lender shall provide Borrower with at least [***] Business Days’ prior written notice before exercising its discretion to cease entering into Loans with Borrower for all or any portion the Uncommitted Amount. Unless otherwise agreed to between Xxxxxx and Borrower in writing, all outstanding Loans at any one time shall be first deemed committed up to the Committed Amount and then the remainder, if any, shall be deemed uncommitted up the Uncommitted Amount. Lender shall not have the right, however, to terminate any Loans with respect to the Uncommitted Amount after the related Funding Date until the related Loan Repayment Date. No later than [***] Business Days prior to each Funding Date (including the Initial Funding Date) where new Eligible Servicing Rights are to be added to the Collateral, Borrower shall deliver to Lender a Servicing Schedule (as of the related cut-off date) identifying all Eligible Servicing Rights to be pledged to Lender as Collateral under the terms and conditions of this Agreement and all Agency Obligations outstanding on the related Funding Date. Regardless of whether Xxxxxxxx delivers a Borrower Funding Request during any calendar month, Borrower shall deliver to Lender or its designee (including any Person identified on Schedule 7.01(a) no later than the tenth (10th) Business Day of each month or as otherwise agreed to by Lender and Borrower (any such Business Day, the “Collateral Reporting Date”), (x) an Agency Obligations report, in a form mutually agreed to by Lender and Borrower, ...
