Common use of Margin Maintenance Clause in Contracts

Margin Maintenance. a. If at any time the aggregate Market Value of all Purchased Assets subject to all Transactions is less than the aggregate Buyer’s Margin Amount for all such Transactions (a “Margin Deficit”), then Buyer may by notice to Seller require Seller in such Transactions to transfer to Buyer cash or, at Buyer’s option (and provided Seller has additional Eligible Assets), additional Eligible Assets (“Additional Purchased Assets”), so that the cash and aggregate Market Value of the Purchased Assets, including any such Additional Purchased Assets, will thereupon equal or exceed such aggregate Buyer’s Margin Amount (such requirement, a “Margin Call”). b. Notice required pursuant to Section 6(a) may be given by any means provided in Section 35 hereof. Any notice given before 10:00 a.m. New York time on a Business Day shall be satisfied no later than 5:00 p.m. New York time on such Business Day. Any notice given on or after 10:00 a.m. New York time on a Business Day shall be satisfied no later than 5:00 p.m. New York time on the Business Day following the date of such notice. The failure of Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer to do so at a later date. Seller, Guarantors and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s rights under this Agreement or otherwise existing by law or in any way create additional rights for Seller or a Guarantor.

Margin Maintenance. a. If at any time the aggregate Market Value of all Purchased Assets subject to all Transactions is less than the aggregate Buyer’s 's Margin Amount for all such Transactions (a “"Margin Deficit”"), then Buyer may by notice to Seller require Seller in such Transactions to transfer to Buyer cash or, at Buyer’s 's option (and provided Seller has additional Eligible Assets), additional Eligible Assets (“"Additional Purchased Assets”"), so that the cash and aggregate Market Value of the Purchased Assets, including any such Additional Purchased Assets, will thereupon equal or exceed such aggregate Buyer’s 's Margin Amount (such requirement, a “"Margin Call”"). b. Notice required pursuant to Section 6(a) may be given by any means provided in Section 35 hereof. Any notice given before 10:00 a.m. New York time on a Business Day shall be satisfied no later than 5:00 p.m. New York time on such Business Day. Any notice given on or after 10:00 a.m. New York time on a Business Day shall be satisfied no later than 5:00 p.m. New York time on the Business Day following the date of such notice. The failure of Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer to do so at a later date. Seller, Guarantors and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s 's rights under this Agreement or otherwise existing by law or in any way create additional rights for Seller or a Guarantor.

Margin Maintenance. a. If at any time the aggregate Market Value of all Purchased Assets subject to all Transactions is less than the aggregate Buyer’s 's Margin Amount for all such Transactions (a “"Margin Deficit”"), then Buyer may by notice to the related Seller require the related Seller in such Transactions to transfer to Buyer cash or, at Buyer’s option (and provided Seller has additional Eligible Assets), additional Eligible Assets (“Additional Purchased Assets”), so that the cash and aggregate Market Value of the Purchased Assets, including any such Additional Purchased Assets, Assets will thereupon equal or exceed such aggregate Buyer’s 's Margin Amount (such requirement, a “"Margin Call”"). If a Seller fails to satisfy a Margin Deficit in accordance with this Section 6(a), then Buyer may, in its sole discretion, immediately satisfy a Margin Deficit, by netting the purchase price under any Existing Agreement by the amount of such Margin Deficit. Upon such netting, the purchase price under such Existing Agreement shall be increased on a dollar for dollar basis by the amount of such Margin Deficit regardless of whether the maximum aggregate purchase price had already been reached under any such Existing Agreement. b. Notice required pursuant to Section 6(a) may be given by any means provided in Section 35 hereof. Any notice given received before 10:00 11:00 a.m. New York time on a Business Day shall be satisfied met, and the related Margin Call satisfied, no later than 5:00 p.m. New York time on such Business Day. Any ; notice given on or received after 10:00 11:00 a.m. New York time on a Business Day shall be satisfied met, and the related Margin Call satisfied, no later than 5:00 p.m. New York time on the following Business Day following the date of such noticeDay. The failure of Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer to do so at a later date. The related Seller, Guarantors each Guarantor and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s 's rights under this Agreement or otherwise existing by law or in any way create additional rights for the related Seller or a any Guarantor. c. If the Sellers fail to satisfy a Margin Deficit in accordance with Section 6(a) and Section 6(b) hereof, then Buyer may, in its sole discretion, satisfy a Margin Deficit, by netting the purchase price under any Existing Agreement by the amount of such Margin Deficit. Upon such netting, the purchase price under such Existing Agreement shall be increased on a dollar for dollar basis by the amount of such Margin Deficit regardless of whether the maximum aggregate purchase price had already been reached under any such Existing Agreement.

Margin Maintenance. a. If at any time the aggregate Market Value of all Purchased Assets subject to all Transactions is less than the aggregate Buyer’s Margin Amount for all such Transactions (a “Margin Deficit”), then Buyer may by notice to Seller Sellers require Seller Sellers in such Transactions to transfer to Buyer cash or, at Buyer’s option (and provided Seller has additional Eligible Assets), additional Eligible Assets (“Additional Purchased Assets”), so that the cash and aggregate Market Value of the Purchased Assets, including any such Additional Purchased Assets, will thereupon equal or exceed such aggregate Buyer’s Margin Amount (such requirement, a “Margin Call”). b. Notice required pursuant to Section 6(a) may be given by any means provided in Section 35 hereof. Any notice given before 10:00 a.m. New York City time on a Business Day shall be satisfied no later than 5:00 p.m. New York City time on such Business Day. Any notice given on or after 10:00 a.m. New York City time on a Business Day shall be satisfied no later than 5:00 p.m. New York City time on the Business Day following the date of such notice. The failure of Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer to do so at a later date. Each Seller, Guarantors Guarantor and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s rights under this Agreement or otherwise existing by law or in any way create additional rights for any Seller or a the Guarantor.

Margin Maintenance. a. If at any time the aggregate Market Value of all Purchased Assets subject to all Transactions the Transaction is less than the aggregate Buyer’s Margin Amount for all such Transactions the Transaction (a “Margin Deficit”), then Buyer may by notice to Seller require Seller in such Transactions the Transaction to transfer to Buyer cash or, at Buyer’s option (and provided Seller has additional Eligible Assets), additional Eligible Assets (“Additional Purchased Assets”), so that the cash and aggregate Market Value of the Purchased Assets, including any such Additional Purchased Assets, will thereupon equal or exceed such aggregate Buyer’s Margin Amount (such requirement, a “Margin Call”). b. Notice required pursuant to Section 6(a) may be given by any means provided in Section 35 hereof. Any notice given before 10:00 a.m. New York time on a Business Day shall be satisfied no later than 5:00 p.m. New York time on such Business Day. Any notice given on or after 10:00 a.m. New York time on a Business Day shall be satisfied no later than 5:00 p.m. New York time on the Business Day following the date of such notice. The failure of Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer to do so at a later date. Seller, Guarantors and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s rights under this Agreement or otherwise existing by law or in any way create additional rights for Seller or a Guarantor.

Margin Maintenance. a. If at (a) If, as of any time date of determination, the aggregate Market Purchased Value of all Purchased Assets Loans subject to all Transactions this Agreement on any date of determination is less than the aggregate Buyer’s Margin Amount Repurchase Price as of such date of determination for all such Transactions Purchased Loans (such difference, a “Margin Deficit”)) then, then Buyer may by notice to Seller require Seller in such Transactions to transfer to Buyer cash collateral or, at Buyer’s option (and provided Seller has additional Eligible AssetsMortgage Loans), additional Eligible Assets (“Additional Purchased Assets”)Mortgage Loans, so that the cash and the lesser of the aggregate Market Value and the aggregate outstanding principal balance of the Purchased Assetssuch additional Eligible Mortgage Loans, including any such Additional Purchased AssetsLoans then subject to this Agreement, will thereupon equal or exceed reduce such aggregate Buyer’s Margin Amount Deficit to zero (such requirement, a “Margin Call”). b. (b) Notice required pursuant to Section 6(a6.4(a) may be given by any means provided in Section 35 15.1 hereof. Any If such notice given before 10:00 is received by 11:00 a.m. New York time on a Business Day (Chicago, Illinois time), the related Margin Call shall be satisfied no later than 5:00 p.m. New York time (Chicago, Illinois time) on such the following Business Day. Any If such notice given on or is received after 10:00 11:00 a.m. New York time on a Business Day (Chicago, Illinois time), the related Margin Call shall be satisfied no later than 5:00 p.m. New York time (Chicago, Illinois time) on the second succeeding Business Day following the date of such noticeDay. The failure of Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer to do so at a later date. Seller, Guarantors Seller and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s rights under this Agreement or otherwise existing by law or in any way create additional rights for Seller or a GuarantorSeller.

Margin Maintenance. a. a) If at any time the aggregate Market Value of all Purchased Assets subject to all Transactions is less than the aggregate Buyer’s Margin Amount for all such Transactions (a “Margin Deficit”), then Buyer Agent may by notice to Seller require Seller in such Transactions Seller, at Agent’s option, to transfer to the applicable Buyer cash or, at Buyer’s option (and provided Seller has or additional Eligible Assets), additional Eligible Assets Loans acceptable to Agent in its sole discretion (“Additional Purchased Assets”), so that the such cash and aggregate Market Value of the Purchased Assets, including any such Additional Purchased Assets, will thereupon equal or exceed such aggregate Buyer’s Margin Amount (such requirement, a “Margin Call”). b. b) Notice required pursuant to Section 6(a) 6 may be given by any means provided in Section 35 36 hereof. Any notice given before 10:00 a.m. 1:00 p.m. New York time on a Business Day shall be satisfied no later than 5:00 p.m. New York time on such Business Day. Any notice given on or after 10:00 a.m. New York time on a Business Day shall be satisfied met, and the related Margin Call satisfied, no later than 5:00 p.m. New York time on the next succeeding Business Day; notice given after 1:00 p.m. New York time on a Business Day following shall be met, and the date of such noticerelated Margin Call satisfied, no later than 2:00 p.m. New York time on the second succeeding Business Day. The failure of BuyerAgent, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer Agent to do so at a later date. Seller, Guarantors Seller and Buyer Agent each agree that a failure or delay by Buyer Agent to exercise its rights hereunder shall not limit or waive BuyerAgent’s rights under this Agreement or otherwise existing by law or in any way create additional rights for Seller or a GuarantorSeller.

Margin Maintenance. a. (a) If at any time the aggregate Market Value of all Purchased Assets which consist of Purchased Securities subject to all Transactions is less than the aggregate Buyer’s Margin Amount for all such Transactions (a “Margin Deficit”), then Buyer may by notice to the related Seller require the related Seller in such Transactions to transfer to Buyer cash or, at Buyer’s option (and provided Seller has additional Eligible Assets), additional Eligible Assets (“Additional Purchased Assets”), so that the cash and aggregate Market Value of the such Purchased Assets, including any such Additional Purchased Assets, Assets will thereupon equal or exceed such aggregate Buyer’s Margin Amount (such requirement, a “Margin Call”). b. (b) Notice required pursuant to Section 6(a) may be given by any means provided in Section 35 39 hereof. Any notice given before 10:00 11:00 a.m. New York time on a Business Day shall be satisfied met, and the related Margin Call satisfied, no later than 5:00 p.m. New York time on such Business Day. Any ; notice given on or after 10:00 11:00 a.m. New York time on a Business Day shall be satisfied met, and the related Margin Call satisfied, no later than 5:00 p.m. 11:00 a.m. New York time on the immediately following Business Day following the date of such noticeDay. The failure of Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer to do so at a later date. Each Seller, Guarantors the Guarantor and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s rights under this Agreement or otherwise existing by law or in any way create additional rights for any Seller or a the Guarantor.

Margin Maintenance. a. If at any time the aggregate Market Value of all Purchased Assets subject to all Transactions is less than the aggregate Buyer’s Margin Amount for all such Transactions (a “Margin Deficit”), then Buyer may by notice to the related Seller require the related Seller in such Transactions to transfer to Buyer Buyer, either cash or, at Buyer’s option (and provided Seller has additional Eligible Assets), or additional Eligible Assets acceptable to Buyer in its sole discretion (“Additional Purchased Assets”), so that the cash and aggregate Market Value of the Purchased Assets, including any such Additional Purchased Assets, will thereupon equal or exceed such aggregate Buyer’s Margin Amount (such requirement, a “Margin Call”). b. Notice required pursuant to Section 6(a) may be given by any means provided in Section 35 hereof. Any notice given before 10:00 11:00 a.m. New York time on a Business Day shall be satisfied met, and the related Margin Call satisfied, no later than 5:00 p.m. New York time on such Business Day. Any ; notice given on or after 10:00 11:00 a.m. New York time on a Business Day shall be satisfied met, and the related Margin Call satisfied, no later than 5:00 p.m. New York time on the following Business Day following the date of such noticeDay. The failure of Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer to do so at a later date. The related Seller, Guarantors each Guarantor and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s rights under this Agreement or otherwise existing by law or in any way create additional rights for the related Seller or a any Guarantor.

Margin Maintenance. a. a) If at any time the aggregate Market Value of all Purchased Assets subject to all Transactions is less than the aggregate Buyer’s Margin Amount for all such Transactions (a “Margin Deficit”), then Buyer may by notice to Seller require Seller in such Transactions Transactions, at Buyer’s option, to transfer to Buyer cash or, at Buyer’s option (and provided Seller has or additional Eligible Assets), additional Eligible Assets Loans acceptable to Buyer in its sole discretion (“Additional Purchased Assets”), so that the cash and aggregate Market Value of the Purchased Assets, including any such Additional Purchased Assets, will thereupon equal or exceed such aggregate Buyer’s Margin Amount (such requirement, a “Margin Call”). b. b) Notice required pursuant to Section 6(a) 6 may be given by any means provided in Section 35 36 hereof. Any notice given before 10:00 a.m. 1:00 p.m. New York time on a Business Day shall be satisfied no later than 5:00 p.m. New York time on such Business Day. Any notice given on or after 10:00 a.m. New York time on a Business Day shall be satisfied met, and the related Margin Call satisfied, no later than 5:00 p.m. New York time on the next succeeding Business Day; notice given after 1:00 p.m. New York time on a Business Day following shall be met, and the date of such noticerelated Margin Call satisfied, no later than 2:00 p.m. New York time on the second succeeding Business Day. The failure of Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer to do so at a later date. Seller, Guarantors Seller and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s rights under this Agreement or otherwise existing by law or in any way create additional rights for Seller or a GuarantorSeller.

Margin Maintenance. a. (a) If at any time the aggregate Market Value of all Purchased Assets subject to all Transactions is less than the aggregate Buyer’s MV Margin Amount for all such Transactions (such event, a “Margin Deficit”), then Buyer may may, by notice to Seller Seller, require Seller in such Transactions to transfer to Buyer cash or, at Buyer’s option (and provided Seller has additional Eligible Assets), additional Eligible Assets (“Additional Purchased Assets”) within the timeframes set forth in Section 6(b), so that the cash and aggregate Market Value of the Purchased Assets, including any such Additional Purchased Assets, will thereupon equal or exceed such aggregate Buyer’s MV Margin Amount (such either requirement, a “Margin Call”); provided that if Seller transfers cash, Buyer shall apply such cash in reduction of the then outstanding Repurchase Price, such application to occur on the date of receipt by Buyer or, if such receipt occurs after 5:00 p.m. (New York City time), on the immediately succeeding Business Day. b. (b) Notice required pursuant to Section 6(a) may be given by any means provided in Section 35 hereof21. Any notice given before 10:00 a.m. New York time on a Business Day at or prior to 11:00 a.m. (New York City time) shall be satisfied met, and the related Margin Call satisfied, no later than 5:00 p.m. (New York time City time) on such the same Business Day. Any notice given on or after 10:00 a.m. New York time on a Business Day following 11:00 a.m. (New York City time) shall be satisfied met, and the related Margin Call satisfied, no later than 5:00 1:00 p.m. (New York time City time) on the following Business Day following the date of such noticeDay. The failure of Buyer, on any one or more occasions, to exercise its rights hereunderunder this Section 6, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer to do so at a later date. Seller, Guarantors Seller and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s rights under this Agreement or otherwise existing by law or in any way create additional rights for Seller or a GuarantorSeller.

Margin Maintenance. a. a) If at any time the aggregate Market Value of all Purchased Assets subject to all Transactions is less than the aggregate Buyer’s Margin Amount for all such Transactions (a “Margin Deficit”), then Buyer may by notice to Seller require Seller in such Transactions Transactions, at Buyer’s option, to transfer to Buyer cash or, at Buyer’s option (and provided Seller has additional Eligible Assets)cash, additional Eligible Assets Loans or LLC Interests acceptable to Buyer in its sole discretion (“Additional Purchased Assets”), so that the cash and aggregate Market Value of the Purchased Assets, including any such Additional Purchased Assets, will thereupon equal or exceed such aggregate Buyer’s Margin Amount (such requirement, a “Margin Call”). b. b) Notice required pursuant to Section 6(a) 6 may be given by any means provided in Section 35 36 hereof. Any notice given before 10:00 a.m. 1:00 p.m. New York time on a Business Day shall be satisfied no later than 5:00 p.m. New York time on such Business Day. Any notice given on or after 10:00 a.m. New York time on a Business Day shall be satisfied met, and the related Margin Call satisfied, no later than 5:00 p.m. New York time on the next succeeding Business Day; notice given after 1:00 p.m. New York time on a Business Day following shall be met, and the date of such noticerelated Margin Call satisfied, no later than 2:00 p.m. New York time on the second succeeding Business Day. The failure of Buyer, on any one or more occasions, to exercise its rights hereunder, shall not change or alter the terms and conditions to which this Agreement is subject or limit the right of Buyer to do so at a later date. Seller, Guarantors Seller and Buyer each agree that a failure or delay by Buyer to exercise its rights hereunder shall not limit or waive Buyer’s rights under this Agreement or otherwise existing by law or in any way create additional rights for Seller or a GuarantorSeller.