Common use of Margin Deficit Clause in Contracts

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 aggregate Purchase Value of all Purchased Loans subject to all Transactions hereunder is less than the 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 by notice to the Seller (a “Margin Call”), the Administrative Agent shall, require the Seller to transfer (for the account of the Buyers) to the Administrative Agent or the Custodian, as appropriate either (at the Seller’s option) cash or additional Eligible Loans reasonably acceptable to the Administrative Agent (“Additional Purchased Loans”), or a combination of cash and Additional Purchased Loans, so that the cash and the aggregate Purchase Value of the Purchased Loans, including any such Additional Purchased Loans, will thereupon at least equal the then aggregate Repurchase Price (excluding Price Differential).

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 aggregate Purchase Value sum of the Margin Amounts of all Purchased Mortgage Loans then subject to all Transactions hereunder is less than the aggregate sum of their Repurchase Price Prices, a margin deficit (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”)) will exist and Buyer, then by notice to the Seller (a “Margin Call”), the Administrative Agent shall, may require the Seller to transfer to Buyer (for the account x) cash, or (y) if Buyer is willing to accept them in lieu of the Buyers) to the Administrative Agent or the Custodiancash, as appropriate either (at the Seller’s option) cash or additional Eligible Mortgage Loans reasonably acceptable to the Administrative Agent Buyer (“Additional Purchased Mortgage Loans”), or (z) a combination combination, to the extent (if any) acceptable to Buyer, of cash and Additional Purchased Mortgage Loans, so that immediately after such transfer(s) the cash and sum of (i) such cash, if any, so transferred to Buyer plus (ii) the aggregate Purchase Value of the Margin Amounts of all Purchased LoansMortgage Loans for all Transactions outstanding at that time, including any such Additional Purchased Mortgage Loans, will thereupon be at least equal to the sum of the Repurchase Prices of all Purchased Mortgage Loans then aggregate Repurchase Price (excluding Price Differential)subject to outstanding Transactions.

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 aggregate Purchase Value sum of the Margin Amounts of all Purchased Mortgage Loans subject to all Transactions hereunder at that time is less than the aggregate Repurchase Aggregate Purchase 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 the Seller (a “Margin Call”)Seller, the Administrative Agent shall, may require the Seller to transfer to Buyer, at Buyer’s option, either (for x) cash to be applied by Buyer to the account payment of the Buyers) Repurchase Prices of the Purchased Mortgage Loans that are subject to the Administrative Agent or the Custodianrelated Transactions, as appropriate either (at the Seller’s optiony) cash or additional Eligible Mortgage Loans reasonably acceptable to the Administrative Agent Buyer (“Additional Purchased Mortgage Loans”)) or (z) a combination, or a combination as determined by Buyer, of cash and Additional Purchased Mortgage Loans, so that that, immediately after such transfer(s), the cash and sum of (i) such cash, if any, so transferred to Buyer plus (ii) the aggregate Purchase Value of the Margin Amounts of all Purchased LoansMortgage Loans for all Transactions outstanding at that time, including any such Additional Purchased Mortgage Loans, will thereupon be at least equal to the then aggregate Repurchase Aggregate Purchase Price (excluding Price Differential)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 aggregate Purchase Value sum of the Margin Amounts of all Purchased Mortgage Loans subject to all Transactions hereunder is less than the aggregate Repurchase Aggregate Purchase 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 the any Seller (a “Margin Call”), the Administrative Agent shall, may require the Seller Sellers to transfer to Buyer (for the account of the Buyers) to the Administrative Agent or the Custodian, as appropriate either (at the Seller’s optionx) cash to be applied by Buyer to reduce the Repurchase Prices of Purchased Mortgage Loans that are then subject to outstanding Transactions or (y) if Buyer is willing to accept them in lieu of cash, additional Eligible Mortgage Loans reasonably acceptable to the Administrative Agent Buyer (“Additional Purchased Mortgage Loans”)) or (z) a combination, or a combination to the extent (if any) acceptable to Buyer, of cash and Additional Purchased Mortgage Loans, so that immediately after such transfer(s) the cash and sum of (i) such cash, if any, so transferred to Buyer plus (ii) the aggregate Purchase Value of the Margin Amounts of all Purchased LoansMortgage Loans for all Transactions outstanding at that time, including any such Additional Purchased Mortgage Loans, will thereupon be at least equal to the then aggregate Repurchase Aggregate Purchase Price (excluding Price Differential)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 aggregate Purchase Value sum of the Margin Amounts of all Purchased Mortgage Loans subject to all Transactions hereunder is less than the aggregate Repurchase Aggregate Purchase 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 the Seller (a “Margin Call”), the Administrative Agent shall, may require the Seller to transfer to Buyer, at Buyer’s option, either (for x) cash to be applied by Buyer to the account payment of the Buyers) Repurchase Prices of the Purchased Mortgage Loans that are subject to the Administrative Agent or the Custodianrelated Transactions, as appropriate either (at the Seller’s optiony) cash or additional Eligible Mortgage Loans reasonably acceptable to the Administrative Agent Buyer (“Additional Purchased Mortgage Loans”)) or (z) a combination, or a combination as determined by Buyer, of cash and Additional Purchased Mortgage Loans, so that that, immediately after such transfer(s), the cash and sum of (i) such cash, if any, so transferred to Buyer plus (ii) the aggregate Purchase Value of the Margin Amounts of all Purchased LoansMortgage Loans for all Transactions outstanding at that time, including any such Additional Purchased Mortgage Loans, will thereupon be at least equal to the then aggregate Repurchase Aggregate Purchase Price at that time. (excluding Price Differentialb).

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 aggregate Purchase Value sum of the Margin Amounts of all Purchased Mortgage Loans subject to all Transactions hereunder is less than the aggregate Repurchase Aggregate Purchase 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 the Seller (a “Margin Call”), the Administrative Agent shall, may require the Seller to transfer to Buyer, at Buyer’s option, either (for x) cash to be applied by Buyer to the account payment of the Buyers) Repurchase Prices of the Purchased Mortgage Loans that are subject to the Administrative Agent or the Custodianrelated Transactions, as appropriate either (at the Seller’s optiony) cash or additional Eligible Mortgage Loans reasonably acceptable to the Administrative Agent Buyer (“Additional Purchased Mortgage Loans”)) or (z) a combination, or a combination as determined by Buyer, of cash and Additional Purchased Mortgage Loans, so that that, immediately after such transfer(s), the cash and sum of (i) such cash, if any, so transferred to Buyer plus (ii) the aggregate Purchase Value of the Margin Amounts of all Purchased LoansMortgage Loans for all Transactions outstanding at that time, including any such Additional Purchased Mortgage Loans, will thereupon be at least equal to the then aggregate Repurchase Aggregate Purchase Price (excluding Price Differential)at that time.