Common use of HYPOTHECATION OR PLEDGE OF PURCHASED ASSETS Clause in Contracts

HYPOTHECATION OR PLEDGE OF PURCHASED ASSETS. Title to all Purchased Assets and the proceeds of any related Purchased Items shall pass to Buyer and Buyer shall have free and unrestricted use of all Purchased Assets and the proceeds of any related Purchased Items. Nothing in this Agreement shall preclude Buyer from engaging in repurchase transactions with the Purchased Assets and (and to the extent of Buyer’s interest therein) any related Purchased Items or otherwise pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Assets and (and to the extent of Buyer’s interest therein) any related Purchased Items, all on terms that Buyer may determine in its sole discretion; provided, however, that upon termination of a Transaction in accordance with the provisions of this Agreement, the related purchased Assets and other Purchased Items shall be free and clear of any security interests and other Liens created by Buyer. Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Assets and other Purchased Items delivered to Buyer by Seller.

HYPOTHECATION OR PLEDGE OF PURCHASED ASSETS. Title to all Purchased Assets and the proceeds of any related Purchased Items Repurchase Assets shall pass to Buyer and Buyer shall have free and unrestricted use of all Purchased Assets and Repurchase Assets, subject to the proceeds terms of any related Purchased Itemsthis Agreement. Nothing in this Agreement shall preclude Buyer from engaging may engage in repurchase transactions with the Purchased Assets and (and to the extent of Buyer’s interest therein) any related Purchased Items or Repurchase Assets or otherwise engage in pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Assets and (and to or Repurchase Assets without the extent prior written consent of Buyer’s interest therein) any related Purchased Items, all on terms that Buyer may determine in its sole discretionSeller; provided, however, that upon termination that, so long as no Event of a Transaction in accordance with the provisions of this AgreementDefault shall have occurred and is continuing, the related purchased Assets and other Purchased Items no such transaction shall be free and clear entered into with a Disqualified Institution without the prior written consent of any security interests and other Liens created by BuyerSeller. Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Assets and or Repurchase Assets delivered to Buyer by Seller. Buyer may distribute, subject to first obtaining a customary confidentiality agreement, to any prospective or actual repledgee this Agreement, the other Purchased Items Facility Documents, any other document or other information delivered to Buyer by Seller.

HYPOTHECATION OR PLEDGE OF PURCHASED ASSETS. Title to all Purchased Assets and Repurchase Assets (other than the proceeds of any related Purchased Items REO Subsidiary Interests, which Seller pledges to Buyer) shall pass to Buyer and Buyer shall have free and unrestricted use of all Purchased Assets and the proceeds of any related Purchased ItemsRepurchase Assets. Nothing in this Agreement shall preclude Buyer from engaging in repurchase transactions with the Purchased Assets and (and to the extent of Buyer’s interest therein) any related Purchased Items Repurchase Assets or otherwise pledging, repledging, transferring, hypothecating, or rehypothecating the Purchased Assets and (and Repurchase Assets, in each case, at no additional cost to the extent of Buyer’s interest therein) any related Purchased Items, all on terms that Buyer may determine in its sole discretion; provided, however, that upon termination of a Transaction in accordance with the provisions of this Agreement, the related purchased Assets and other Purchased Items shall be free and clear of any security interests and other Liens created by BuyerSeller. Nothing contained in this Agreement shall obligate Buyer to segregate any Purchased Assets and other Purchased Items Repurchase Assets delivered to Buyer by Sellerthe Seller Parties. Notwithstanding the foregoing, nothing in this Section 12 shall relieve the Buyer from its obligation to return the Purchased Assets and Repurchase Assets to the Seller upon payment of the related Repurchase Price on the related Repurchase Date.

HYPOTHECATION OR PLEDGE OF PURCHASED ASSETS. (a) Title to all Purchased Assets and the proceeds of any related Purchased Items shall pass to Buyer and Buyer shall have free and unrestricted use of all Purchased Assets and the proceeds of any related Purchased ItemsBuyer. Nothing in this Repurchase Agreement shall preclude the Buyer from engaging in repurchase transactions with the Purchased Assets and (and to the extent of Buyer’s interest therein) any related Purchased Items or otherwise pledgingpledging or repledging the Purchased Assets and, repledgingin the event of a Default by either Seller, from otherwise transferring, hypothecating, hypothecating or rehypothecating the Purchased Assets; but no such transaction shall relieve Buyer of its obligations under the Repurchase Documents, including, without limitation, its obligation to transfer the Purchased Assets and (and pursuant to Section 3 or its obligation to credit or pay Proceeds of the Purchased Assets to the extent Sellers, or to apply any such Proceeds to the Obligations of Buyer’s interest therein) any related Purchased Itemsthe Sellers, all on terms that Buyer may determine in its sole discretion; provided, however, that upon termination of a Transaction in accordance with Section 5, or in the provisions absence of this Agreement, a Default by either Seller to cause the related purchased Assets and other Purchased Items shall Transaction to be free and clear of any security interests and other Liens created by Buyertreated in the manner described in Section 20. Nothing contained in this Repurchase Agreement shall obligate the Buyer to segregate any Purchased Transaction Assets and other Purchased Items or Subject Securities delivered to the Buyer by Sellerthe Sellers. (b) Notwithstanding anything to the contrary in this Repurchase Agreement or any other Repurchase Document, no Equity Interest, or Subject Security shall remain in the custody of either Seller or any Affiliate thereof.