Common use of Maintenance of Financial Covenants Clause in Contracts

Maintenance of Financial Covenants. To the extent that Seller is obligated under any other Indebtedness (whether now in effect or in effect at any time during the term of the Agreement) to comply with a financial covenant that is comparable to any of the financial covenants set forth in Section 13(p) and such comparable financial covenant is more restrictive to Seller or otherwise more favorable to the related lender or buyer thereunder than any financial covenant hereunder, such comparable financial covenant shall, with no further action required on the part of either Seller or Buyer, automatically become a part hereof and be incorporated herein, and Seller hereby covenants to maintain compliance with such comparable financial covenant at all times for as long as such comparable financial covenant remains in effect.

Appears in 1 contract

Samples: Master Repurchase Agreement (loanDepot, Inc.)

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Maintenance of Financial Covenants. To the extent that Seller is obligated under any other Indebtedness (whether now in effect or in effect at any time during the term of the Agreement) to comply with a financial covenant that is comparable to any of the financial covenants set forth in Section 13(p) and such comparable financial covenant is more restrictive to Seller or otherwise more favorable to the related lender or buyer thereunder than any financial covenant hereunder, such comparable financial covenant shall, with no further action required on the part of either Seller or Buyer, automatically become a part hereof and be incorporated herein, and Seller hereby covenants to maintain compliance with such comparable financial covenant at all times for as long as such comparable financial covenant remains covenants remain in effect.

Appears in 1 contract

Samples: Master Repurchase Agreement (Tree.com, Inc.)

Maintenance of Financial Covenants. To the extent that Seller is obligated under any other Indebtedness (whether now in effect or in effect at any time during the term of the Agreement) to comply with a financial covenant that is comparable to any of the financial covenants set forth in Section 13(p) and such comparable financial covenant is more restrictive to Seller or otherwise more favorable to the related lender or buyer thereunder than any financial covenant hereunder, such comparable financial covenant shall, with no further action required on the part of either Seller or Buyer, automatically become a part hereof and be incorporated herein, and the Seller hereby covenants to maintain compliance with such comparable financial covenant at all times for as long as such comparable financial covenant remains in effectthroughout the terms of this Agreement.

Appears in 1 contract

Samples: Master Repurchase Agreement (Sirva Inc)

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Maintenance of Financial Covenants. To the extent that Seller is obligated under any other Indebtedness (whether now in effect or in effect at any time during the term of the Agreement) to comply with a financial covenant that is comparable to any of the financial covenants set forth in Section 13(p13(q) and such comparable financial covenant is more restrictive to Seller or otherwise more favorable to the related lender or buyer thereunder than any financial covenant hereunder, such comparable financial covenant shall, with no further action required on the part of either Seller or Buyer, automatically become a part hereof and be incorporated herein, and Seller hereby covenants to maintain compliance with such comparable financial covenant at all times for as long as such comparable financial covenant remains in effect.throughout the terms of this Agreement..=

Appears in 1 contract

Samples: Master Repurchase Agreement (Velocity Financial, LLC)

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