Common use of Maintenance of Financial Covenants; Scope of Guarantee Clause in Contracts

Maintenance of Financial Covenants; Scope of Guarantee. Guarantor and Buyer each agree that, to the extent that Guarantor, or any of Affiliate of Guarantor, is obligated (either as a primary or secondary obligor) under any other repurchase agreement, loan agreement, warehouse facility, similar credit facility, guarantee or any amendments thereto (whether now in effect or that comes into effect at any time during the term of the Repurchase Agreement) to comply with a financial covenant that is comparable to any of the financial covenants set forth in this Guarantee and such comparable financial covenant is more restrictive to the guarantor, seller, borrower and/or obligor thereunder or otherwise more favorable to the related lender or buyer thereunder than any financial covenant set forth in this Guarantee, or is in addition to any financial covenant set forth in this Guarantee, then each such comparable (but more favorable or more restrictive) or additional financial covenant shall, with no further action required on the part of either Guarantor or Buyer, automatically be deemed to be a part of this Guarantee and be incorporated herein, mutatis mutandis, and Guarantor hereby agrees to comply with such new, more restrictive and/or more favorable terms, as applicable, at all times throughout the remaining term of this Guarantee. Guarantor agrees to promptly notify Buyer of the execution of any agreement, amendment or other document described in this Section 21. Guarantor further agrees, at Buyer’s request, to execute and deliver any related amendments to this Guarantee, each in form and substance acceptable to Buyer, provided that the execution of any such amendment shall not be a precondition to the effectiveness of this Section 21, but shall merely be for the convenience of Guarantor and Buyer.

Maintenance of Financial Covenants; Scope of Guarantee. Guarantor and Buyer each agree that, to To the extent that Guarantor, or any of Affiliate of Guarantor, Guarantor is obligated (either as a primary or secondary obligor) under any other repurchase agreement, loan agreement, warehouse facility, similar credit facility, guarantee or any amendments thereto (whether now in effect or that comes into effect at any time during the term of the Repurchase Agreement) to comply with a financial covenant that is comparable to any of the financial covenants set forth in this Guarantee Guaranty, and such comparable financial covenant is more restrictive to the guarantor, seller, borrower and/or obligor thereunder or otherwise more favorable to the related lender or buyer thereunder than any financial covenant set forth in this GuaranteeGuaranty, or is in addition to any financial covenant set forth in this GuaranteeGuaranty, then each such comparable (but more favorable or more restrictive) or additional financial covenant shall, with no further action required on the part of either Guarantor or Buyer, automatically be deemed to be become a part of this Guarantee Guaranty and be incorporated herein, mutatis mutandis, and Guarantor hereby agrees covenants to comply maintain compliance with such new, more restrictive and/or more favorable terms, as applicable, comparable or additional financial covenant at all times throughout the remaining term of this GuaranteeGuaranty. In connection therewith, Guarantor agrees to promptly notify Buyer of the execution of any agreement, amendment agreement or other document described in that would cause the provisions of this Section 2134 to become effective. Guarantor further agrees, at Buyer’s request, agrees to execute and deliver any related new guaranties, agreements or amendments to this Guarantee, each in form and substance acceptable Guaranty necessary to Buyerevidence all such new or modified provisions, provided that the execution of any such amendment shall not be a precondition to the effectiveness of this Section 21such amendment, but shall merely be for the convenience of Guarantor and Buyer.

Maintenance of Financial Covenants; Scope of Guarantee. Guarantor and Buyer each agree that, to the extent that Guarantor, or any of Affiliate of Guarantor, Guarantor is obligated (either as a primary or secondary obligor) under any other repurchase agreement, loan agreement, agreement or warehouse facility, similar credit facility, guarantee facility or any amendments thereto (whether now in effect or that comes into in effect at any time during the term of the Repurchase Agreement) to comply with a financial covenant that is comparable to any of the financial covenants set forth in this Guarantee and such comparable financial covenant is more restrictive to the guarantor, seller, borrower and/or obligor thereunder Guarantor or otherwise more favorable to the related lender or buyer thereunder than any financial covenant set forth in this Guaranteehereunder, or is in addition to any financial covenant set forth in this Guarantee, then each such comparable (but more favorable or more restrictive) or additional financial covenant shall, with no further action required on the part of either Guarantor or Buyer, automatically be deemed to be become a part of this Guarantee hereof and be incorporated herein, mutatis mutandis, and Guarantor hereby agrees covenants to comply maintain compliance with such new, more restrictive and/or more favorable terms, as applicable, comparable or additional financial covenant at all times throughout the remaining term terms of this Guarantee. Guarantor agrees to promptly notify Buyer of the execution of any agreement, amendment or other document described in that would cause the provisions of this Section 2126 to become effective. Guarantor further agrees, at Buyer’s request, to execute and deliver any related amendments to this Guarantee, each in form and substance acceptable to Buyer, provided that the execution of any such amendment shall not be a precondition to the effectiveness of this Section 21such amendment, but shall merely be for the convenience of Guarantor Buyer and BuyerGuarantor.

Maintenance of Financial Covenants; Scope of Guarantee. Guarantor and Buyer each agree that, to the extent that Guarantor, or any of Affiliate of Guarantor, Guarantor is obligated (either as a primary or secondary obligor) under any other repurchase agreement, loan agreement, agreement or warehouse facility, similar credit facility, guarantee facility (but specifically excluding any “wet funding” or “bridge” financing facility that allows for pledges of assets with a maximum financing term of each such pledged asset of one (1) year or less and with respect to which the related guarantor is liable to the related lender or buyer for payment of at least 75% of the aggregate outstanding principal balance or repurchase price thereunder) or any amendments thereto (whether now in effect or that comes into in effect at any time during the term of the Repurchase Agreement) to comply with a financial covenant that is comparable to any of the financial covenants set forth in this Guarantee and such comparable financial covenant is more restrictive to the guarantor, seller, borrower and/or obligor thereunder Guarantor or otherwise more favorable to the related lender or buyer thereunder than any financial covenant set forth in this Guaranteehereunder, or is in addition to any financial covenant set forth in this Guarantee, then each such comparable (but more favorable or more restrictive) or additional financial covenant shall, with no further action required on the part of either Guarantor or Buyer, automatically be deemed to be become a part of this Guarantee hereof and be incorporated herein, mutatis mutandis, and Guarantor hereby agrees covenants to comply maintain compliance with such new, more restrictive and/or more favorable terms, as applicable, comparable or additional financial covenant at all times throughout the remaining term terms of this Guarantee. Guarantor Xxxxxxxxx agrees to promptly notify Buyer of the execution of any agreement, amendment or other document described in that would cause the provisions of this Section 2120 to become effective. Guarantor further agrees, at BuyerXxxxx’s request, to execute and deliver any related amendments to this Guarantee, each in form and substance acceptable to Buyer, provided that the execution of any such amendment shall not be a precondition to the effectiveness of this Section 21such amendment, but shall merely be for the convenience of Guarantor Buyer and BuyerGuarantor.

Maintenance of Financial Covenants; Scope of Guarantee. Guarantor and Buyer each agree that, to the extent that Guarantor, or any of Affiliate of Guarantor, Guarantor is obligated (either as a primary or secondary obligor) under any other repurchase agreement, loan agreement, agreement or warehouse facility, similar credit facility, guarantee facility or any amendments thereto (whether now in effect or that comes into in effect at any time during the term of the Repurchase Agreement) to comply with a financial covenant that is comparable to any of the financial covenants set forth in this Guarantee and such comparable financial covenant is more restrictive to the guarantor, seller, borrower and/or obligor thereunder Guarantor or otherwise more favorable to the related lender or buyer thereunder than any financial covenant set forth in this Guaranteehereunder, or is in addition to any financial covenant set forth in this Guarantee, then each such comparable (but more favorable or more restrictive) or additional financial covenant shall, with no further action required on the part of either Guarantor or Buyer, automatically be deemed to be become a part of this Guarantee hereof and be incorporated herein, mutatis mutandis, and Guarantor hereby agrees covenants to comply maintain compliance with such new, more restrictive and/or more favorable terms, as applicable, comparable or additional financial covenant at all times throughout the remaining term terms of this Guarantee. Guarantor agrees to promptly notify Buyer of the execution of any agreement, amendment or other document described in that would cause the provisions of this Section 2127 to become effective. Guarantor further agrees, at Buyer’s request, to execute and deliver any related amendments to this Guarantee, each in form and substance acceptable to Buyer, provided that the execution of any such amendment shall not be a precondition to the effectiveness of this Section 21such amendment, but shall merely be for the convenience of Guarantor Buyer and BuyerGuarantor.

Maintenance of Financial Covenants; Scope of Guarantee. Guarantor and Buyer each agree that, to the extent that Guarantor, Guarantor or any of Affiliate of Guarantor, Sponsor is obligated (either as a primary or secondary obligor) under any other repurchase agreement, loan agreement, warehouse facility, guaranty or similar credit facility, guarantee or any amendments thereto (whether now in effect or that comes come into effect at any time during the term of the Repurchase Agreement) involving the financing of commercial real estate assets which are similar to the Purchased Assets, expressly excluding loans secured by single-family rental properties, (whether now in effect or in effect at any time during the term of the Repurchase Agreement) to comply with a financial covenant that is comparable to any of the financial covenants set forth in this Guarantee Guarantee, and such comparable financial covenant is more restrictive to the guarantor, seller, borrower and/or obligor thereunder Guarantor or Sponsor or otherwise more favorable to the related lender or buyer thereunder than any financial covenant set forth in this Guarantee, or is in addition to any financial covenant set forth in this Guarantee, then each such comparable (but more favorable or more restrictive) or additional financial covenant shall, with no further action required on the part of either Sponsor, Guarantor or Buyer, automatically be deemed to be a part of this Guarantee and be incorporated herein, mutatis mutandis, and Guarantor or Sponsor, as appropriate, hereby agrees to comply maintain compliance with such new, more restrictive and/or more favorable terms, as applicable, comparable or additional financial covenant at all times throughout the remaining term of this Guarantee. In connection therewith, Guarantor agrees to promptly notify Buyer of the execution of any agreement, amendment or other document described in that would cause the provisions of this Section 2121 to become effective. Guarantor and Sponsor further agreesagree, at Buyer’s request, to execute and deliver any related amendments to this Guarantee, each in form and substance acceptable to Buyer, provided that the execution of any such amendment shall not be a precondition to the effectiveness of this Section 21, but shall merely be for the convenience of Guarantor and Buyer.

Maintenance of Financial Covenants; Scope of Guarantee. Guarantor and Buyer each agree that, to the extent that Guarantor, or any of Affiliate of Guarantor, is obligated (either as a primary or secondary obligor) under any other repurchase agreement, loan agreement, warehouse facility, facility or similar credit facility, guarantee or any amendments thereto (whether now in effect or that comes into effect at any time during the term of the Repurchase Agreement) to comply with a financial covenant that is comparable to any of the financial covenants set forth in this Guarantee and such comparable financial covenant is more restrictive to the guarantor, seller, borrower and/or obligor thereunder or otherwise more favorable to the related lender or buyer thereunder than any financial covenant set forth in this Guarantee, or is in addition to any financial covenant set forth in this Guarantee, then each such comparable (but more favorable or more restrictive) or additional financial covenant shall, with no further action required on the part of either Guarantor or Buyer, automatically be deemed to be a part of this Guarantee and be incorporated herein, mutatis mutandis, and Guarantor hereby agrees to comply with such new, more restrictive and/or more favorable terms, as applicable, at all times throughout the remaining term of this Guarantee. Guarantor agrees to promptly notify Buyer of the execution of any agreement, amendment or other document described in this Section 21. Guarantor further agrees, at Buyer’s request, to execute and deliver any related amendments to this GuaranteeGuarantee to give effect to the provisions of this Section 21, each in form and substance reasonably acceptable to Buyer, provided that the execution of any such amendment shall not be a precondition to the effectiveness of this Section 21, but shall merely be for the convenience of Guarantor and Buyer.