Common use of Most Favored Status Clause in Contracts

Most Favored Status. Sellers and Buyer each agree that should any Sellers or any 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 provide more favorable terms to Buyer with respect to any financial covenants set forth in Section 4 of the Pricing Side Letter or any substantially similar covenants (a “More Favorable Agreement”), Sellers shall give Buyer prompt notice thereof and 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 Sellers to Buyer of such termination, the original terms of this Agreement shall be deemed to be automatically reinstated. Sellers and Buyer 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.

Most Favored Status. Sellers and Buyer each agree Each Seller Party agrees that should any Sellers or any Subsidiary thereof Seller Party enter into a repurchase agreement or credit facility with any Person other than Buyer or an Affiliate of Buyer, such Seller Party shall promptly provide Buyer which by with a copy of any such repurchase agreement. To the extent that Buyer determines, in its terms provide sole good faith discretion, that any term of any such repurchase agreement provides more favorable terms to Buyer with respect to any guaranties or financial covenants, including without limitation covenants set forth covering the same or similar subject matter referred to in Section 4 of the Pricing Side Letter or any substantially similar covenants 12(h) hereof (a “More Favorable Agreement”), Sellers Buyer shall give Buyer prompt notice thereof and the terms of propose an amendment to this Agreement shall be deemed automatically amended to include such more favorable terms term(s) contained in such More Favorable Agreement; provided, that which Seller will review and, to the extent acceptable to Seller in its commercially reasonable discretion, execute and deliver to Buyer. In the event that such More Favorable Agreement is terminated, upon notice by Sellers to Buyer of such termination, the original terms of this Agreement shall be deemed to be automatically reinstated. Sellers and Buyer further agree to Seller does not 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 Buyer may terminate this Agreement notwithstanding any commitment hereunder; provided that any such termination shall merely be not, on its own, accelerate the Repurchase Date for the convenience of the parties heretoany Purchased Mortgage Loan hereunder.

Most Favored Status. Sellers and Buyer each agree Seller agrees that should any Sellers Seller or any Subsidiary 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 provide provides more favorable terms to Buyer with respect to any guaranties or financial covenants, including without limitation covenants covering the same or similar subject matter set forth in Section 4 of the Pricing Side Letter or any substantially similar covenants Sections 13(j) and 13(q) hereof (a “More Favorable Agreement”), Sellers shall give Buyer prompt notice thereof and the terms of this 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 Sellers Seller to Buyer of such termination, the original terms of this Agreement shall be deemed to be automatically reinstated. Sellers and Buyer further agree Seller agrees 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.