Common use of Initial Participating Lenders Clause in Contracts

Initial Participating Lenders. As stated above, ILSI shall enter into agreements with a minimum of three (3) lenders to become Participating Lenders by the time of the Preliminary Launch and four (4) Participating Lenders by the time of the Launch. ILSI shall select such Participating Lenders in consultation with FMN based upon competitive pricing and attractive correspondent programs offered by such lenders. The Participating Lenders will provide correspondent and/or wholesale pricing to ILSI and FMN. In cases where correspondent relationships are established, FMN agrees to maintain correspondent approval from all Participating Lenders. ILSI agrees to make all necessary agreements with the Participating Lenders to effectuate the purposes of this Agreement.