Common use of Most Favored Status Clause in Contracts

Most Favored Status. Sellers, Guarantors and the Administrative Agent each agree that should a Seller enter into a Warehouse Facility with any Person other than the Administrative Agent or an Affiliate of the Administrative Agent which by its terms provides more favorable terms to the Administrative Agent with respect to the financial covenants set forth in Section 14dd hereof (a “More Favorable Agreement”), the terms of this 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 the Sellers to the Administrative Agent of such termination, the original terms of this Agreement shall be deemed to be automatically reinstated. The Sellers, the Guarantors, and the Administrative Agent further agree to execute and deliver any new agreements or amendments to this Agreement evidencing such provisions, provided that the execution of such amendment shall not be a precondition to the effectiveness of such amendment, but shall merely be for the convenience of the parties hereto. Promptly upon a Seller entering into a repurchase agreement or other credit facility with any Person other than the Administrative Agent, Sellers shall notify Administrative Agent that it has entered into such repurchase agreement or other credit facility and deliver to Administrative Agent a summary of the material terms related to the comparable financial covenants of such repurchase agreement or other credit facility in form and substance acceptable to Administrative Agent.

Most Favored Status. SellersSeller, Guarantors Guarantor and the Administrative Agent Buyer each agree that should a Seller enter into a Warehouse Facility with any Person other than the Administrative Agent Buyer or an Affiliate of the Administrative Agent Buyer which by its terms provides more favorable terms to the Administrative Agent Buyer with respect to the financial covenants set forth in Section 14dd 14(dd) hereof (a “More Favorable Agreement”), the terms of this 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 the Sellers Seller to the Administrative Agent Buyer of such termination, the original terms of this Agreement shall be deemed to be automatically reinstated. The SellersSeller, the GuarantorsGuarantor, and the Administrative Agent Buyer further agree to execute and deliver any new agreements or amendments to this Agreement evidencing such provisions, provided that the execution of such amendment shall not be a precondition to the effectiveness of such amendment, but shall merely be for the convenience of the parties hereto. Promptly upon a Seller entering into a repurchase agreement or other credit facility with any Person other than the Administrative AgentBuyer, Sellers Seller shall notify Administrative Agent Buyer that it has entered into such repurchase agreement or other credit facility and deliver to Administrative Agent Buyer a summary of the material terms related to the comparable financial covenants of such repurchase agreement or other credit facility in form and substance acceptable to Administrative AgentBuyer.

Most Favored Status. SellersSeller, Guarantors Guarantor and the Administrative Agent each agree that should a Seller enter into a Warehouse Facility with any Person other than the Administrative Agent or an Affiliate of the Administrative Agent which by its terms provides more favorable terms to the Administrative Agent with respect to the financial covenants set forth in Section 14dd 14(dd) hereof (a “More Favorable Agreement”), the terms of this 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 the Sellers Seller to the Administrative Agent of such termination, the original terms of this Agreement shall be deemed to be automatically reinstated. The SellersSeller, the GuarantorsGuarantor, and the Administrative Agent further agree to execute and deliver any new agreements or amendments to this Agreement evidencing such provisions, provided that the execution of such amendment shall not be a precondition to the effectiveness of such amendment, but shall merely be for the convenience of the parties hereto. Promptly upon a Seller entering into a repurchase agreement or other credit facility with any Person other than the Administrative Agent, Sellers Seller shall notify Administrative Agent that it has entered into such repurchase agreement or other credit facility and deliver to Administrative Agent a summary of the material terms related to the comparable financial covenants of such repurchase agreement or other credit facility in form and substance acceptable to Administrative Agent.

Most Favored Status. SellersSeller, Guarantors and the Administrative Agent Buyer each agree that should a Seller enter into a Warehouse Facility with any Person other than the Administrative Agent Buyer or an Affiliate of the Administrative Agent Buyer which by its terms provides more favorable terms to the Administrative Agent Buyer with respect to the financial covenants set forth referred to in Section 14dd hereof (a “More Favorable Agreement”), the terms of this 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 the Sellers Seller to the Administrative Agent Buyer of such termination, the original terms of this Agreement shall be deemed to be automatically reinstated. The SellersSeller, the Guarantors, and the Administrative Agent Buyer further agree to execute and deliver any new agreements or amendments to this Agreement evidencing such provisions, provided that the execution of such amendment shall not be a precondition to the effectiveness of such amendment, but shall merely be for the convenience of the parties hereto. Promptly upon a Seller entering into a repurchase agreement or other credit facility with any Person other than the Administrative AgentBuyer, Sellers Seller shall notify Administrative Agent Buyer that it has entered into such repurchase agreement or other credit facility and deliver to Administrative Agent Buyer a summary of the material terms related to the comparable financial covenants of such repurchase agreement or other credit facility in form and substance acceptable to Administrative AgentBuyer.

Most Favored Status. Sellers, Guarantors The Borrower and the Administrative Agent each agree that should the Borrower, a Seller Subsidiary or an Affiliate over which the Borrower exercises Control enter into a Warehouse Facility repurchase agreement or credit facility with any Person other than the Administrative Agent or an Affiliate of the Administrative Agent which by its terms provides more favorable terms to the Administrative Agent with respect to the financial covenants set forth in Section 14dd hereof any Financial Covenant (each, a “More Favorable Agreement”), then the terms of this 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 the Administrative Agent or an Affiliate of the Administrative Agent; provided, that in the event that such More Favorable Agreement is terminated, upon notice by the Sellers Borrower to the Administrative Agent of such termination, the original terms of this Agreement shall be deemed to be automatically reinstated. The Sellers, the Guarantors, Borrower and the Administrative Agent further agree to execute and deliver any new guaranties, agreements or amendments to this Agreement evidencing such provisions, provided that the execution of such amendment shall not be a precondition to the effectiveness of such amendment, but shall merely be for the convenience of the parties hereto. Promptly upon the Borrower, a Seller Subsidiary or an Affiliate over which the Borrower exercises Control entering into a repurchase agreement or other credit facility with any Person other than the Administrative Agent or an Affiliate of the Administrative Agent, Sellers the Borrower shall notify Administrative Agent that it has entered into such repurchase agreement or other credit facility and deliver to the Administrative Agent a summary of the material terms related to the comparable financial covenants true, correct and complete copy of such repurchase agreement agreement, loan agreement, guaranty or other credit facility in form and substance acceptable to Administrative Agentfinancing documentation.