Common use of Most Favored Status Clause in Contracts

Most Favored Status. Seller agrees that should Seller or any Affiliate thereof enter into a repurchase agreement or credit facility with any Person other than Buyer or an Affiliate of Buyer which by its terms provides more favorable terms to such Person with respect to any guaranties or financial covenants (a “More Favorable Agreement”), the terms of this Repurchase Agreement shall be deemed automatically amended to include such more favorable terms contained in such More Favorable Agreement; provided that in the event that such More Favorable Agreement is terminated, upon notice by Seller to Buyer of such termination, the original terms of this Repurchase Agreement shall be deemed to be automatically reinstated. Seller further agrees to execute and deliver any additional guaranties, agreements or amendments to this Repurchase Agreement evidencing such more favorable terms; provided that the execution of such guaranties, agreements or amendments will not be a precondition to the effectiveness thereof, but will merely be for the convenience of the parties hereto. Promptly upon Seller or any Affiliate thereof entering into any such repurchase agreement, credit facility or other comparable agreement with any Person other than Buyer, Seller shall deliver to Buyer a summary of any more favorable terms contained in such More Favorable Agreement.

Most Favored Status. Seller Guarantor agrees that should Seller Guarantor or any Affiliate Subsidiary thereof enter into a repurchase agreement or credit facility with any Person other than Buyer or an Affiliate of Buyer which by its terms provides provide more favorable terms to such Person the related buyer or lender thereunder with respect to any guaranties financial covenants set forth in Section 7(z) of the Guaranty or financial any substantially similar covenants (a “More Favorable Agreement”), (i) Guarantor shall give Buyer prompt notice thereof and (ii) the terms of this Repurchase Agreement shall be deemed automatically amended to include such more favorable terms contained in such More Favorable Agreement; provided provided, that in the event that such More Favorable Agreement is terminated, upon notice by Seller Guarantor to Buyer of such termination, the original terms of this Repurchase Agreement shall be deemed to be automatically reinstated. Seller Seller, Guarantor and Xxxxx further agrees agree to execute and deliver any additional new guaranties, agreements or amendments to this Repurchase Agreement evidencing such more favorable terms; provisions, provided that the execution of such guaranties, agreements or amendments will amendment shall not be a precondition to the effectiveness thereofof such amendment, but will shall merely be for the convenience of the parties hereto. Promptly upon Seller or any Affiliate thereof entering into any such repurchase agreement, credit facility or other comparable agreement with any Person other than Buyer, Seller shall deliver to Buyer a summary of any more favorable terms contained in such More Favorable Agreement.

Most Favored Status. Seller agrees and Buyer each agree that should Seller or any Affiliate thereof enter into a repurchase agreement agreement, warehouse facility, guaranty or similar credit facility (which shall include without limitation a renewal of any such existing facility) with any Person other than (including, without limitation, Buyer or an Affiliate of Buyer Buyer) which by its terms provides more favorable terms to such Person with respect to any guaranties or of the financial covenants or reporting requirements (each, a “More Favorable Agreement”), than the terms of this Repurchase Agreement or the Addendum, Seller shall promptly provide Buyer with notice of such more favorable terms contained in such More Favorable Agreement (which notice may be provided in Sellers’ next delivery of Schedule 4 to its Officer’s Compliance Certificate). Upon receipt of such notice, Buyer shall have the right to require that this Agreement or the Addendum, as applicable, be deemed automatically amended to include such more favorable terms contained in such More Favorable AgreementAgreement (as described in such notice), such that such terms operate in favor of Buyer or an Affiliate of Buyer by providing Seller with confirmation of such deemed amendment; provided provided, that in the event that such More Favorable Agreement is terminated, upon notice by Seller to Buyer of such termination, the original terms of this Repurchase Agreement shall be deemed to be automatically reinstated. 12. Seller further agrees to execute and deliver any additional guaranties, agreements or amendments to this Repurchase Agreement evidencing such more favorable terms; provided that the execution of such guaranties, agreements or amendments will not be a precondition to the effectiveness thereof, but will merely be for the convenience Section 14(f)(2) of the parties hereto. Promptly upon Seller or any Affiliate thereof entering into any such repurchase agreementMRSC is hereby deleted in its entirety and replaced as follows (solely for convenience, credit facility or other comparable agreement with any Person other than Buyer, Seller shall deliver to Buyer a summary of any more favorable terms contained in such More Favorable Agreement.the modified text is italicized):

Most Favored Status. Seller agrees Sellers, Guarantor and the Buyer each agree that should any Seller or Guarantor or any Affiliate thereof enter into a repurchase agreement or credit facility with any Person other than the Buyer or an Affiliate of the Buyer which by its terms provides more favorable terms to such Person the Buyer with respect to any guaranties financial covenants set forth in Sections 14.n and 00.xx hereof or financial any substantially similar covenants (a “More Favorable Agreement”), the terms of this Repurchase Agreement shall be deemed automatically amended to include such more favorable terms contained in such More Favorable Agreement; provided provided, that in the event that such More Favorable Agreement is terminated, upon notice by such Seller to the Buyer of such termination, the original terms of this Repurchase Agreement shall be deemed to be automatically reinstated. Seller Sellers, the Guarantor and the Buyer further agrees agree to execute and deliver any additional new guaranties, agreements or amendments to this Repurchase Agreement evidencing such more favorable terms; provisions, provided that the execution of such guaranties, agreements or amendments will amendment shall not be a precondition to the effectiveness thereofof such amendment, but will shall merely be for the convenience of the parties hereto. Promptly upon any Seller or Guarantor or any Affiliate thereof entering into any such a repurchase agreement, agreement or other credit facility or other comparable agreement with any Person other than the Buyer, Seller Sellers shall deliver to the Buyer a summary true, correct and complete copy of any more favorable terms contained in such More Favorable Agreementrepurchase agreement, loan agreement, guaranty or other financing documentation.

Most Favored Status. Seller Borrower covenants and agrees that should Seller Borrower or any Affiliate thereof enter into a repurchase agreement agreement, warehouse facility, guaranty, mortgage servicing rights financing or similar credit facility with any Person other than Buyer or an Affiliate (including, without limitation, any of Buyer its Affiliates) which by its terms provides more favorable terms to such Person with respect to any guaranties or financial or other material covenants (each, a “More Favorable Agreement”), then Borrower shall provide Bank with prompt notice of such more favorable terms contained in such More Favorable Agreement and the terms of this Repurchase Agreement Agreement, shall be deemed automatically amended to include such more favorable terms contained in such More Favorable Agreement, such that such terms operate in favor of Bank hereunder; provided provided, that in the event that such More Favorable Agreement is terminated, upon notice by Seller Borrower to Buyer Bank of such termination, the original terms of this Repurchase Agreement shall be deemed to be automatically reinstated. Seller further agrees to execute and deliver any additional guaranties, agreements or amendments to this Repurchase Agreement evidencing such more favorable terms; provided that the execution of such guaranties, agreements or amendments will not be a precondition to the effectiveness thereof, but will merely be for the convenience of the parties hereto. Promptly upon Seller Borrower or any Affiliate thereof entering into any such a repurchase agreement, agreement or other credit facility or other comparable agreement with any Person other than BuyerPerson, Seller Borrower shall deliver to Buyer Bank a true, correct and complete summary of any the more favorable terms contained in such More Favorable Agreement.

Most Favored Status. Seller agrees Seller, Administrative Agent and Buyers each agree that should Seller or any Affiliate thereof enter into a repurchase agreement or credit facility with any Person other than Administrative Agent or a Buyer or an Affiliate of Administrative Agent or a Buyer which by its terms provides more favorable terms to such Person with respect to any guaranties or financial covenants, including covenants covering the same or similar subject matter set forth or referred to in Section 6.11 or Section 2 of the Pricing Side Letter (Financial Covenants) (a “More Favorable Agreement”), ) then the terms of this Repurchase Agreement shall be deemed automatically amended to include such more favorable terms contained in such More Favorable Agreement, such that such terms operate in favor of Administrative Agent, Buyers or an Affiliate of Administrative Agent or Buyers; provided provided, that in the event that such More Favorable Agreement is terminated, upon notice by Seller to Buyer Administrative Agent of such termination, the original terms of this Repurchase Agreement shall be deemed to be automatically reinstatedreinstated without any further action or consent on the part of the parties hereto. Administrative Agent, Seller and Buyers further agrees agree to execute and deliver any additional new guaranties, agreements or amendments to this Repurchase Agreement evidencing such more favorable terms; provisions, provided that the execution of such guaranties, agreements or amendments will amendment shall not be a precondition to the effectiveness thereofof such amendment, but will shall merely be for the convenience of the parties hereto. Promptly upon Seller or any Affiliate thereof entering into any such repurchase agreement, credit facility or other comparable agreement with any Person other than Buyer, Seller shall deliver to Buyer a summary of any more favorable terms contained in such More Favorable Agreement.

Most Favored Status. Seller agrees Sellers, Guarantor and the Buyer each agree that should any Seller or Guarantor or any Affiliate thereof enter into a repurchase agreement or credit facility with any Person other than the Buyer or an Affiliate of the Buyer which by its terms provides more favorable terms to such Person the Buyer with respect to any guaranties financial covenants set forth in Sections 14.n and 14.bx xxxeof or financial any substantially similar covenants (a “More Favorable Agreement”), the terms of this Repurchase Agreement shall be deemed automatically amended to include such more favorable terms contained in such More Favorable Agreement; provided provided, that in the event that such More Favorable Agreement is terminated, upon notice by such Seller to the Buyer of such termination, the original terms of this Repurchase Agreement shall be deemed to be automatically reinstated. Seller Sellers, the Guarantor and the Buyer further agrees agree to execute and deliver any additional new guaranties, agreements or amendments to this Repurchase Agreement evidencing such more favorable terms; provisions, provided that the execution of such guaranties, agreements or amendments will amendment shall not be a precondition to the effectiveness thereofof such amendment, but will shall merely be for the convenience of the parties hereto. Promptly upon any Seller or Guarantor or any Affiliate thereof entering into any such a repurchase agreement, agreement or other credit facility or other comparable agreement with any Person other than the Buyer, Seller Sellers shall deliver to the Buyer a summary true, correct and complete copy of any more favorable terms contained in such More Favorable Agreementrepurchase agreement, loan agreement, guaranty or other financing documentation.

Most Favored Status. Seller agrees that should Seller or any Affiliate thereof enter into a repurchase agreement or agreement, credit facility or other comparable agreement with any Person other than Buyer or an Affiliate of Buyer which by its terms provides more favorable terms to such Person with respect to any guaranties or financial covenants (a “More Favorable Agreement”), the terms of this Repurchase Agreement shall be deemed automatically amended to include such more favorable terms contained in such More Favorable Agreement; provided provided, that in the event that such More Favorable Agreement is terminated, upon notice by Seller to Buyer of such termination, the original terms of this Repurchase Agreement shall be deemed to be automatically reinstated. Seller each further agrees to execute and deliver any additional guaranties, agreements or amendments to this Repurchase Agreement evidencing such more favorable terms; , provided that the execution of such guaranties, agreements or amendments will not be a precondition to the effectiveness thereof, but will merely be for the convenience of the parties hereto. Promptly upon Seller or any Affiliate thereof entering into any such repurchase agreement, credit facility or other comparable agreement with any Person other than Buyer, Seller shall deliver notice to Buyer a summary of any more favorable terms contained in such More Favorable Agreement.