Initiation; Confirmation. It is the intention of the parties that there shall be just one Transaction outstanding at any time, and that all Assets constituting Purchased Assets shall be subject to such Transaction. Accordingly, (x) the Closing Date and each date on which Seller transfers new Purchased Assets to Buyer (other than a substitution of Replacement Assets pursuant to section 4(d) of Annex III or a transfer of Additional Purchased Assets pursuant to Paragraph 4(a) of the Base Agreement) shall each constitute a Purchase Date for a new Transaction, and each such date (other than the Closing Date) shall also constitute a Repurchase Date for the Transaction in effect immediately prior to such Purchase Date, and (y) each date specified in clauses (i), (ii), (iv) and (vi) of the definition of Repurchase Date shall constitute a new Purchase Date. Upon the occurrence of the date specified in either clause (iii) or clause (vii) of the definition of Repurchase Date, the outstanding Transaction shall terminate and no new Purchase Date shall occur. The words “orally or” shall be deleted from the first sentence of Paragraph 3(a) of the Base Agreement. The words “or make available electronically” shall be added immediately after the words “promptly deliver” in the first sentence of Paragraph 3(b) of the Base Agreement. Paragraph 3(b) of the Base Agreement shall be amended and restated in its entirety to read as follows: “The written confirmation (each, a “Confirmation”) of each Transaction entered into between Seller and Buyer under this Agreement shall consist of (i) the Master Confirmation, the terms of which are applicable to each such confirmation, and (ii) the information regarding such Transaction in the Daily Custodian Statement delivered on the Purchase Date for such Transaction.”
Initiation; Confirmation. (i) With respect to Transactions the subject of which are Wet-Ink Mortgage Loans, the Seller shall deliver a Transaction Request to the Buyer on or prior to 4:00 p.m. (New York City time) on the date of any Transaction and with respect to Transactions the subject of which are Mortgage Loans other than Wet-Ink Mortgage Loans, the Seller shall deliver a Transaction Request to the Buyer on or prior to 4:00 p.m. (New York City time) on the date one (1) Business Day prior to entering into any Transaction. Such Transaction Request shall include a Mortgage Loan Schedule with respect to the Mortgage Loans to be sold in such requested Transaction. Buyer shall confirm the terms of each Transaction by issuing a written confirmation to the Seller promptly after the parties enter into such Transaction in the form of Exhibit I attached hereto (a “Confirmation”). Such Confirmation shall set forth (A) the Purchase Date, (B) the Purchase Price, (C) the Repurchase Date, (D) the Pricing Rate applicable to the Transaction, (E) the applicable Purchase Price Percentages, (F) LIBOR Period and (G) additional terms or conditions not inconsistent with this Repurchase Agreement.
Initiation; Confirmation. (i) Each Seller shall deliver a Transaction Request to the Buyer on or prior to 2:00 p.m. on the date one (1) Business Day prior to entering into any Transaction. Such Transaction Request shall include a Mortgage Loan Schedule with respect to the Mortgage Loans to be sold in such requested Transaction. The Buyer shall confirm the terms of each Transaction by issuing a written confirmation to the related Seller promptly after the parties enter into such Transaction in the form of Exhibit I attached hereto (a "Confirmation"). Such Confirmation shall set forth (A) the Purchase Date, (B) the Purchase Price, (C) the Repurchase Date, (D) the Pricing Rate applicable to the Transaction, (E) the applicable Purchase Price Percentages, (F) the LIBOR Period and (G) additional terms or conditions not inconsistent with this Repurchase Agreement.
Initiation; Confirmation. Termination (a) An agreement to enter into a Transaction may be made orally or in writing at the initiation of either Buyer or Seller. On the Purchase Date for the Transaction, the Purchased Securities shall be transferred to Buyer or its agent against the transfer of the Purchase Price to an account of Seller.
Initiation; Confirmation. (a) A party may enter into an Agency Transaction if, but only if -
Initiation; Confirmation. (i) A Seller shall deliver a Transaction Request to the Buyer on or prior to 10:00 a.m. (New York time) on the date one (1) Business Day prior to entering into any Transaction. Such Transaction Request shall include a Purchased Mortgage Loan Report with respect to the Mortgage Loans to be sold in such requested Transaction. Buyer shall confirm the terms of each Transaction by issuing a written confirmation to the Sellers promptly after the parties enter into such Transaction in the form of Exhibit I attached hereto (a “Confirmation”). Such Confirmation shall set forth (A) the Purchase Date, (B) the Purchase Price, (C) the Repurchase Date, (D) the Pricing Rate applicable to the Transaction, (E) the applicable Purchase Price Percentages, and (F) additional terms or conditions not inconsistent with this Repurchase Agreement. Sellers shall execute and return the Confirmation to Buyer via facsimile prior to 3:00 p.m. (New York time) on the related Purchase Date. USActive 5512618.10 -21-
Initiation; Confirmation. (i) Each Seller shall deliver a Transaction Request to the Buyer on or prior to 5:30 p.m. on the date one (1) Business Day prior to entering into any Transaction (including Transactions resulting in a Purchase Price Increase, which shall not be requested more than once per month). Such Transaction Request shall include a Mortgage Loan Schedule with respect to the Mortgage Loans to be sold in such requested Transaction. Following receipt of such request, Buyer may agree to enter into such requested Transaction or shall notify such Seller of its intention not to enter into such Transaction within one (1) Business Day of the receipt of any Transaction Request. Buyer shall confirm the terms of each Transaction by issuing a written confirmation to each Seller promptly after the parties enter into such Transaction in the form of Exhibit I attached hereto (a "Confirmation"). Such Confirmation shall set forth (A) the Purchase Date, (B) the Purchase Price or Purchase Price Increase, as applicable, (C) the Repurchase Date, (D) the Pricing Rate applicable to the Transaction, (E) the applicable Purchase Price Percentages, (F) LIBOR Period and (G) additional terms or conditions not inconsistent with this Repurchase Agreement.
Initiation; Confirmation. (a) Not less than two (2) Business Days prior to each proposed Purchase Date, Seller shall forward to Buyer a detailed listing of the Securities proposed to be the subject of a Transaction (a "Mortgage Loan Schedule"), which Mortgage Loan Schedule shall indicate the category of Mortgage Loan, whether such Mortgage Loan is a Wet Mortgage Loan or a Dry Mortgage Loan and such other information as Buyer may require.
Initiation; Confirmation. The Seller shall deliver a Transaction Request to the Buyer on or prior to 10:00 a.m. on the date one (1) Business Day prior to entering into any Transaction. Such Transaction Request shall include a Mortgage Loan Schedule with respect to the Mortgage Loans to be sold in such requested Transaction. Following receipt of such request, Buyer may agree to enter into such requested Transaction or may notify Seller of its intention not to enter into such Transaction. Buyer shall confirm the terms of each Transaction by issuing a written confirmation to the Seller promptly after the parties enter into such Transaction in the form of Exhibit I attached hereto (a "Confirmation"). Such Confirmation shall set forth (A) the Purchase Date, (B) the Purchase Price, (C) the Repurchase Date, (D) the Pricing Rate applicable to the Transaction, (E) the applicable Purchase Price Percentages, (F) LIBOR Period and (G) additional terms or conditions not inconsistent with this Repurchase Agreement. The Repurchase Date for each Transaction shall not be later than the date which is 90 days after the related Purchase Date. The LIBOR Period for each Transaction shall be one month, unless agreed to in writing by the Buyer. Each Confirmation, together with this Repurchase Agreement, shall be conclusive evidence of the terms of the Transaction(s) covered thereby unless objected to in writing by the Seller no more than two (2) Business Days after the date the Confirmation was received by the Seller or unless a corrected Confirmation is sent by Buyer. An objection sent by Seller must state specifically that writing which is an objection, must specify the provision(s) being objected to by the Seller, must set forth such provision(s) in the manner that the Seller believes they should be stated, and must be received by Buyer no more than two (2) Business Days after the Confirmation was received by the Seller. Subject to the terms and conditions of this Repurchase Agreement, during such period the Seller may sell, repurchase and resell Eligible Mortgage Loans hereunder. In no event shall a Transaction be entered into when the Repurchase Date for such Transaction would be later than the Termination Date. No later than 5:00 p.m., New York City time, one (1) Business Day prior to the requested Purchase Date, the Seller shall deliver to the Custodian the Mortgage Loan File pertaining to each Eligible Mortgage Loan (other than a Wet-Ink Mortgage Loan) to be purchased by the Buyer. Subject to the p...
Initiation; Confirmation. (i) At least five (5) Business Days prior to the related Purchase Date, the Seller shall deliver to the Buyer the related Purchase Agreement and/or Servicing Agreement containing the individual Mortgage Loan representations and warranties and servicing requirements with respect to the Mortgage Loans being sold to the Buyer.
