Common use of Massachusetts Subprime Loans, Nevada Subprime Loans and Loans Subject to Consent or Other Orders Clause in Contracts

Massachusetts Subprime Loans, Nevada Subprime Loans and Loans Subject to Consent or Other Orders. If Buyer determines, in its sole discretion, that any Purchased Loan breaches the representation and warranty in Section 6.24 of this Repurchase Agreement (whether or not such breach is material), or if Buyer determines, in its sole discretion, that a Purchased Loan is a Massachusetts Subprime Loan or a Nevada Subprime Loan which suffers from a compliance exception resulting from a systematic or recurring fault in the Seller’s or other originator’s origination practices or violates any consent order or decree or any judicial, regulatory, administrative or other similar judgment order, stipulation, award, writ or injunction applicable to the buyer, then the Seller shall immediately, and in no case later than one (1) Business Day following discovery by, or notice to, Seller of such breach, repurchase such Mortgage Loan at the related Repurchase Price. The date on which the Seller repurchase such Mortgage Loan will be considered the “Repurchase Date” for such Mortgage Loan. The Buyer shall provide written notice to the Seller of any consent order or decree or any judicial, regulatory, administrative or other similar judgment, order stipulation, award, writ or injunction applicable to the Buyer.