Common use of Margin Deficit Clause in Contracts

Margin Deficit. If at any time the sum of the Margin Amounts of all Purchased Mortgage Loans at that time is less than the Aggregate Purchase Price (a “Margin Deficit”), then Buyer, by notice to Seller, may require Seller to transfer to Buyer, at Buyer’s option, either (x) cash to be applied by Buyer to the payment of the Repurchase Prices of the Purchased Mortgage Loans that are subject to the related Transactions, (y) additional Eligible Mortgage Loans reasonably acceptable to Buyer (“Additional Purchased Mortgage Loans”) or (z) a combination, as determined by Buyer, of cash and Additional Purchased Mortgage Loans, so that, immediately after such transfer(s), the sum of (i) such cash, if any, so transferred to Buyer plus (ii) the aggregate of the Margin Amounts of all Purchased Mortgage Loans for all Transactions outstanding at that time, including any such Additional Purchased Mortgage Loans, will be at least equal to the Aggregate Purchase Price at that time.

Margin Deficit. (a) The Administrative Agent will recalculate the Purchase Value of all Purchased Loans on any date that the Market Value of Purchased Loans is calculated by the Administrative Agent as described in Section 6.6 and at any other time the Administrative Agent elects to do so. If at any time the sum of the Margin Amounts aggregate Purchase Value of all Purchased Mortgage Loans at that time subject to all Transactions hereunder is less than the Aggregate Purchase aggregate Repurchase Price (excluding Price Differential minus cash transfers previously made from Seller to the Administrative Agent in response to previous Margin Calls, if any) for all such Transactions (a “Margin Deficit”), then Buyer, by notice to Sellerthe Seller (a “Margin Call”), may the Administrative Agent shall, require the Seller to transfer (for the account of the Buyers) to Buyerthe Administrative Agent or the Custodian, as appropriate either (at Buyerthe Seller’s option, either (x) cash to be applied by Buyer to the payment of the Repurchase Prices of the Purchased Mortgage Loans that are subject to the related Transactions, (y) or additional Eligible Mortgage Loans reasonably acceptable to Buyer the Administrative Agent (“Additional Purchased Mortgage Loans”) ), or (z) a combination, as determined by Buyer, combination of cash and Additional Purchased Mortgage Loans, so that, immediately after such transfer(s), that the sum of (i) such cash, if any, so transferred to Buyer plus (ii) cash and the aggregate Purchase Value of the Margin Amounts of all Purchased Mortgage Loans for all Transactions outstanding at that timeLoans, including any such Additional Purchased Mortgage Loans, will be thereupon at least equal to the Aggregate Purchase then aggregate Repurchase Price at that time(excluding Price Differential).

Margin Deficit. (a) If at any time the sum of the Margin Amounts aggregate Purchase Value of all Purchased Mortgage Loans at that time subject to all Transactions hereunder is less than the Aggregate Purchase aggregate Repurchase Price (excluding Price Differential), minus cash transfers previously made from the Seller to the Agent in response to previous Margin Calls, if any, for all such Transactions (a “Margin Deficit”), then Buyer, by notice to Sellerthe Seller (a “Margin Call”), may the Agent shall, require the Seller to transfer (for the account of the Buyers) to Buyerthe Agent or the Custodian, at Buyer’s optionas appropriate, either (xat the Seller’s option) cash to be applied by Buyer to the payment of the Repurchase Prices of the Purchased Mortgage Loans that are subject to the related Transactions, (y) or additional Eligible Mortgage Loans reasonably acceptable to Buyer the Agent (“Additional Purchased Mortgage Loans”) ), or (z) a combination, as determined by Buyer, combination of cash and Additional Purchased Mortgage Loans, so that, immediately after such transfer(s), that the sum of (i) such cash, if any, so transferred to Buyer plus (ii) cash and the aggregate Purchase Value of the Margin Amounts of all Purchased Mortgage Loans for all Transactions outstanding at that timeLoans, including any such Additional Purchased Mortgage Loans, will be thereupon at least equal to the Aggregate then aggregate Repurchase Price (excluding Price Differential). The Agent will recalculate the Purchase Price Value of all or a portion of the Purchased Loans at that timethe times it deems appropriate in its sole discretion and at any other time at the request of the Required Buyers.

Margin Deficit. (a) If at any time the sum of the Margin Amounts aggregate Purchase Value of all Purchased Mortgage Loans at that time subject to all Transactions hereunder is less than the Aggregate Purchase aggregate Repurchase Price (excluding Price Differential, minus cash transfers previously made from Seller to the Agent in response to previous Margin Calls, if any, for all such Transactions (a “Margin Deficit”), then Buyer, by notice to Sellerthe Seller (a “Margin Call”), may the Agent shall, require the Seller to transfer (for the account of the Buyers) to Buyerthe Agent or the Custodian, as appropriate either (at Buyerthe Seller’s option, either (x) cash to be applied by Buyer to the payment of the Repurchase Prices of the Purchased Mortgage Loans that are subject to the related Transactions, (y) or additional Eligible Mortgage Loans reasonably acceptable to Buyer the Agent (“Additional Purchased Mortgage Loans”) ), or (z) a combination, as determined by Buyer, combination of cash and Additional Purchased Mortgage Loans, so that, immediately after such transfer(s), that the sum of (i) such cash, if any, so transferred to Buyer plus (ii) cash and the aggregate Purchase Value of the Margin Amounts of all Purchased Mortgage Loans for all Transactions outstanding at that timeLoans, including any such Additional Purchased Mortgage Loans, will be thereupon at least equal the then aggregate Repurchase Price (excluding Price Differential). The Agent will recalculate the Purchase Value of all or a portion of the Purchased Loans (i) at the times it deems appropriate in its sole discretion and (ii) within one Business Day after receiving a reasonable request, in writing (which may be in the form of e-mail sent to the Aggregate Purchase Price at that timeAgent), for such recalculation from the Required Buyers.

Margin Deficit. (a) If at any time the sum of the Margin Amounts aggregate Purchase Value of all Purchased Mortgage Loans at that time subject to all Transactions hereunder is less than the Aggregate Purchase aggregate Repurchase Price (excluding Price Differential), minus, without duplication, cash transfers previously made from the Seller to the Agent in response to previous Margin Calls, if any, for all such Transactions (a “Margin Deficit”), then Buyer, by notice to Sellerthe Seller (a “Margin Call”), may the Agent shall require the Seller to transfer (for the account of the Buyers) to Buyerthe Agent (in the case of cash) or the Custodian (in the case of Additional Purchased Loans, at Buyer’s optionas defined below), as appropriate, either (xat the Seller’s option) cash to be applied by Buyer to the payment of the Repurchase Prices of the Purchased Mortgage Loans that are subject to the related Transactionscash, (y) additional Eligible Mortgage Loans reasonably acceptable to Buyer the Agent (“Additional Purchased Mortgage Loans”) ), or (z) a combination, as determined by Buyer, combination of cash and Additional Purchased Mortgage Loans, so that, immediately after such transfer(s), that the sum of (i) such cash, if any, so transferred to Buyer plus (ii) cash and the aggregate Purchase Value of the Margin Amounts of all Purchased Mortgage Loans for all Transactions outstanding at that timeLoans, including any such Additional Purchased Mortgage Loans, will be thereupon at least equal to the Aggregate Purchase then aggregate Repurchase Price at that time(excluding Price Differential).

Margin Deficit. (a) If at any time the sum of the Margin Amounts aggregate Purchase Value of all Purchased Mortgage Loans at that time subject to all Transactions hereunder is less than the Aggregate Purchase aggregate Repurchase Price (excluding Price Differential), minus, without duplication, cash transfers previously made from the Seller to the Agent in response to previous Margin Calls, if any, for all such Transactions (a “Margin Deficit”), then Buyer, by notice to Sellerthe Seller (a “Margin Call”), may the Agent shall require the Seller to transfer (for the account of the Buyers) to Buyerthe Agent or the Custodian, at Buyer’s optionas appropriate, either (xat the Seller’s option) cash to be applied by Buyer to the payment of the Repurchase Prices of the Purchased Mortgage Loans that are subject to the related Transactionscash, (y) additional Eligible Mortgage Loans reasonably acceptable to Buyer the Agent (“Additional Purchased Mortgage Loans”) ), or (z) a combination, as determined by Buyer, combination of cash and Additional Purchased Mortgage Loans, so that, immediately after such transfer(s), that the sum of (i) such cash, if any, so transferred to Buyer plus (ii) cash and the aggregate Purchase Value of the Margin Amounts of all Purchased Mortgage Loans for all Transactions outstanding at that timeLoans, including any such Additional Purchased Mortgage Loans, will be thereupon at least equal to the Aggregate then aggregate Repurchase Price (excluding Price Differential). The Agent will request a recalculation of the Purchase Price Value of all or a portion of the Purchased Loans from the Custodian at that timethe times it deems appropriate in its sole discretion and at any other time at the request of the Required Buyers; provided that, other than during the existence of a Default or Event of Default, the Purchase Values shall not be recalculated on less than a weekly basis.

Margin Deficit. (a) If at any time the sum of the Margin Amounts aggregate Purchase Value of all Purchased Mortgage Loans at that time subject to all Transactions hereunder is less than the Aggregate Purchase aggregate Repurchase Price (excluding Price Differential, minus cash transfers previously made from Seller to the Agent in response to previous Margin Calls, if any, for all such Transactions (a “Margin Deficit”), then Buyer, by notice to Sellerthe Seller (a “Margin Call”), may the Agent shall, require the Seller to transfer (for the account of the Buyers) to Buyerthe Agent or the Custodian, as appropriate either (at Buyerthe Seller’s option, either (x) cash to be applied by Buyer to the payment of the Repurchase Prices of the Purchased Mortgage Loans that are subject to the related Transactions, (y) or additional Eligible Mortgage Loans reasonably acceptable to Buyer the Agent (“Additional Purchased Mortgage Loans”) ), or (z) a combination, as determined by Buyer, combination of cash and Additional Purchased Mortgage Loans, so that, immediately after such transfer(s), that the sum of (i) such cash, if any, so transferred to Buyer plus (ii) cash and the aggregate Purchase Value of the Margin Amounts of all Purchased Mortgage Loans for all Transactions outstanding at that timeLoans, including any such Additional Purchased Mortgage Loans, will be thereupon at least equal to the Aggregate then aggregate Repurchase Price (excluding Price Differential). The Agent will recalculate the Purchase Price Value of all or a portion of the Purchased Loans at that timethe times it deems appropriate in its sole discretion and at any other time at the reasonable request of the Required Buyers.

Margin Deficit. (a) If at any time the sum of the Margin Amounts aggregate Purchase Value of all Purchased Mortgage Loans at that time subject to all Transactions hereunder is less than the Aggregate Purchase aggregate Repurchase Price (excluding Price Differential), minus, without duplication, cash transfers previously made from the Seller to the Agent in response to previous Margin Calls, if any, for all such Transactions (a “Margin Deficit”), then Buyer, by notice to Sellerthe Seller (a “Margin Call”), may the Agent shall require the Seller to transfer (for the account of the Buyers) to Buyerthe Agent (in the case of cash) or the Custodian (in the case of Additional Purchased Loans, at Buyer’s optionas defined below), as appropriate, either (xat the Seller’s option) cash to be applied by Buyer to the payment of the Repurchase Prices of the Purchased Mortgage Loans that are subject to the related Transactionscash, (y) additional Eligible Mortgage Loans reasonably acceptable to Buyer the Agent (“Additional Purchased Mortgage Loans”) ), or (z) a combination, as determined by Buyer, combination of cash and Additional Purchased Mortgage Loans, so that, immediately after such transfer(s), that the sum of (i) such cash, if any, so transferred to Buyer plus (ii) cash and the aggregate Purchase Value of the Margin Amounts of all Purchased Mortgage Loans for all Transactions outstanding at that timeLoans, including any such Additional Purchased Mortgage Loans, will be thereupon at least equal the then aggregate Repurchase Price (excluding Price Differential). (b) On any Business Day on which the Purchase Value of the Purchased Loans subject to Transactions exceeds the Aggregate Purchase Price at that time.then outstanding aggregate Repurchase Price