Common use of MARGIN AMOUNT MAINTENANCE Clause in Contracts

MARGIN AMOUNT MAINTENANCE. (a) If at any time the aggregate Asset Value of all Purchased Assets subject to all outstanding Transactions is less than the aggregate Repurchase Price for all such Transactions (a “Margin Deficit”), then the Agent shall by notice to the Sellers (as such notice is more particularly set forth below, a “Xxxx-to-Market”), require the Sellers to transfer to the Custodian or other designee of the Agent, for the benefit of Buyers, cash or Eligible Assets approved by the Agent in its sole discretion (“Additional Purchased Assets”) so that the aggregate Asset Value of the Purchased Assets, including any such Additional Purchased Assets or cash, will thereupon equal or exceed the aggregate Repurchase Price for all Transactions. For purposes of the calculation of the Xxxx-to-Market, the Agent will exclude accrued and unpaid Price Differential that is otherwise included in the aggregate Repurchase Price (which, if so excluded, will be due on the next Payment Date). If the Agent delivers a Xxxx-to-Market to Seller at or before 4:00 p.m. (New York City time) on any Business Day, then the Sellers shall transfer cash or Additional Purchased Assets to the Custodian or other designee of the Agent, for the benefit of Buyers, on the next Business Day after the Business Day on which a Xxxx-to-Market is delivered to the Sellers. If the Agent delivers a Xxxx-to-Market to Seller after 4:00 p.m. (New York City time) on any Business Day, the Sellers shall be required to transfer cash or Additional Purchased Assets on the second Business Day thereafter.

MARGIN AMOUNT MAINTENANCE. (a) If at any time the aggregate Asset Value of all Purchased Assets subject to all outstanding Transactions Margin Base is less than the aggregate Repurchase Purchase Price for all such outstanding Transactions (a “"Margin Deficit”"), then the Agent shall -------------- Buyer may by notice to the Sellers Seller (as such notice is more particularly set forth below, a “Xxxx-to-Market”"Margin Deficit Notice"), require the Sellers Seller to transfer to the Custodian --------------------- Buyer or other its designee of the Agent, for the benefit of Buyers, (including Custodian) cash or Eligible Assets approved by the Agent in its sole discretion (“"Additional Purchased Assets”") so that the aggregate Asset Value of --------------------------- the Purchased Assets, including any such Additional Purchased Assets or cashAssets, will thereupon equal or exceed the aggregate Repurchase Price Purchase Prices for all Transactions. For purposes of the calculation of the Xxxx-to-Market, the Agent will exclude accrued and unpaid Price Differential that is otherwise included in the aggregate Repurchase Price (which, if so excluded, will be due on the next Payment Date)such Purchased Assets. If the Agent Buyer delivers a Xxxx-to-Market Margin Deficit Notice to Seller at on or before 4:00 prior to 6 p.m. (New York City time) on any Business Day, then the Sellers Seller shall transfer cash or Additional Purchased Assets to the Custodian or other designee of the Agent, for the benefit of Buyers, on the next Business Day after the Business Day on which a Xxxx-to-Market is delivered to the Sellers. If the Agent delivers a Xxxx-to-Market to Seller after 4:00 Buyer no later than 5 p.m. (New York City time) the following Business Day. In the event Buyer delivers a Margin Deficit Notice to Seller after 6 p.m. (New York time) on any Business Day, then such Margin Deficit Notice shall be deemed to have been delivered on the Sellers following Business Day and Seller shall be required to transfer cash or Additional Purchased Assets no later than 5 p.m. (New York time) on the second subsequent Business Day thereafterDay. All cash transferred to Buyer pursuant to this Section 4(a) shall be deposited in the account set forth in Section 8(a) hereof and shall be deemed to reduce the aggregate Purchase Price with respect to all outstanding Transactions.

MARGIN AMOUNT MAINTENANCE. (a) The Buyer shall determine the Market Value of the Purchased Mortgage Loans on a weekly basis, or at such intervals as determined by the Buyer in its sole discretion. If at any time the aggregate Asset Value of all related Purchased Assets Mortgage Loans subject to all outstanding Transactions is less than the aggregate Repurchase Price for all such Transactions (a “"Margin Deficit”"), then the Agent shall Buyer may by notice to the Sellers Seller (as such notice is more particularly set forth below, a “Xxxx-to-Market”"Margin Call"), require the Sellers Seller to transfer to the Custodian Buyer or other its designee of the Agent, for the benefit of Buyers, cash or Eligible Assets Mortgage Loans approved by the Agent Buyer in its sole discretion (“"Additional Purchased Assets”Mortgage Loans") so that the aggregate Asset Value of the Purchased AssetsMortgage Loans, including any such cash or Additional Purchased Assets Mortgage Loans or cash, will thereupon equal or exceed the aggregate Repurchase Purchase Price for all Transactions. For purposes of the calculation of the Xxxx-to-Market, the Agent will exclude accrued and unpaid Price Differential that is otherwise included in the aggregate Repurchase Price (which, if so excluded, will be due on the next Payment Date). If the Agent Buyer delivers a Xxxx-to-Market Margin Call to the Seller at on or before 4:00 p.m. prior to 9:30 a.m. (New York City time) on any Business Day, then the Sellers Seller shall transfer cash or Additional Purchased Assets Mortgage Loans to Buyer no later than 5 p.m. (New York City time) that day. In the Custodian or other designee of event the Agent, for the benefit of Buyers, on the next Business Day after the Business Day on which a Xxxx-to-Market is delivered to the Sellers. If the Agent Buyer delivers a Xxxx-to-Market Margin Call to a Seller after 4:00 p.m. 9:30 a.m. (New York City time) on any Business Day, the Sellers Seller shall be required to transfer cash or Additional Purchased Assets Mortgage Loans no later than 5 p.m. (New York City time) on the second subsequent Business Day thereafterDay. Buyer's election, in its sole and absolute discretion, not to make a Margin Call at any time there is a Margin Deficit shall not in any way limit or impair its right to make a Margin Call at any time a Margin Deficit exists. Any cash transferred to the Buyer pursuant to Section 4(b) above shall be credited to the Repurchase Price of the related Transactions. On any day on which the aggregate Asset Value of the Purchased Mortgage Loans exceeds the then outstanding aggregate Purchase Price of all Transactions (a "Margin Excess"), so long as no Default or Event of Default has occurred and is continuing, Buyer shall, upon receipt of written request from Seller remit an amount equal to such Margin Excess to Seller as additional Purchase Price with respect to the Transactions, provided that in no event shall the Purchase Price exceed the Purchase Price as calculated on the applicable Purchase Date. Any request received by the Buyer after 2:00 p.m. (eastern time) shall be remitted by the Buyer on the next Business Day. Buyer shall not be obligated to remit the additional Purchase Price requested pursuant to a request for Margin Excess which (i) Buyer reasonably determines is based on erroneous information or would result in a Transaction other than in accordance with the terms of this Agreement, or (ii) does not reflect Buyer's current determination of Market Value as provided in the definition thereof.