Common use of Initiation; Confirmation Clause in Contracts

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) With respect to Transactions the subject of which are Wet-Ink Mortgage Loans, the The Seller shall deliver a Transaction Request to the Buyer on or prior to 4:00 5:30 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. Following receipt of such request, Buyer may agree to enter into such requested Transaction or shall notify 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 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) With respect to Transactions the subject of which are Wet-Ink Mortgage Loans, the 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) 10:00 a.m. on the date one (1) Business Day prior to entering into any Transaction. Such Transaction Request shall include a Purchased Mortgage Loan Schedule 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 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, Percentages and (F) LIBOR Period and (G) additional terms or conditions not inconsistent with this Repurchase Agreement. Seller shall execute and return the Confirmation to Buyer via facsimile on or prior to 5:00 p.m. (New York time) on the date one (1) Business Day prior to the related Purchase Date, with the executed and acknowledged original Confirmation to follow via overnight delivery (and in any event to arrive no later than 48 hours after the related Purchase Date).

Initiation; Confirmation. (i) With respect to Transactions the subject of which are Wet-Ink Mortgage Loans, the Each Seller shall deliver a Transaction Request to the Buyer on or prior to 4:00 5:30 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 TransactionTransaction (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 the 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 PricePrice 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. (i) With respect to Transactions the subject of which are Wet-Ink Mortgage Loans, the The applicable Seller shall deliver a Transaction Request to the Buyer on or prior to 4:00 3:00 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 is one (1) Business Day prior to the date of entering into any Transaction. Such Transaction Request shall include a Purchased Mortgage Loan Schedule 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 applicable 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, Transaction and (E) the applicable Purchase Price Percentages, (F) LIBOR Period and (G) additional terms or conditions not inconsistent with this Repurchase Agreement. Each relevant Seller shall execute and return the Confirmation to Buyer via facsimile on or prior to 5:00 p.m. (New York time) on the date which is one (1) Business Day prior to the related Purchase Date, with the executed and acknowledged original Confirmation to follow via overnight delivery (and in any event to arrive no later than 48 hours after the related Purchase Date).

Initiation; Confirmation. (i) With respect to Transactions the subject of which are Wet-Ink Mortgage Loans, the 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) 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.