Common use of Most Favored Status Clause in Contracts

Most Favored Status. 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 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 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, that in the event that such More Favorable Agreement is terminated, upon notice by Seller to Administrative Agent of such termination, the original terms of this Agreement shall be deemed to be automatically reinstated without any further action or consent on the part of the parties hereto. Administrative Agent, Seller and Buyers 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. SellerSellers, Administrative Agent Guarantor and Buyers 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 Administrative Agent or a the Buyer or an Affiliate of Administrative Agent or a the Buyer which by its terms provides more favorable terms to the Buyer with respect to any guaranties or financial covenants, including covenants covering the same or similar subject matter set forth in Sections 14.n and 00.xx hereof or referred to in Section 6.11 or Section 2 of the Pricing Side Letter (Financial Covenants) any substantially similar covenants (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 Administrative Agent, Buyers or an Affiliate of Administrative Agent or Buyers; provided, that in the event that such More Favorable Agreement is terminated, upon notice by such Seller to Administrative Agent the Buyer of such termination, the original terms of this Agreement shall be deemed to be automatically reinstated without any further action or consent on reinstated. Sellers, the part of Guarantor and the parties hereto. Administrative Agent, Seller and Buyers 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. Promptly upon any Seller or Guarantor or any Affiliate thereof entering into a repurchase agreement or other credit facility with any Person other than the Buyer, Sellers shall deliver to the Buyer a true, correct and complete copy of such repurchase agreement, loan agreement, guaranty or other financing documentation.

Most Favored Status. Seller, Administrative Agent and Buyers each agree Guarantor agrees that should Seller Guarantor or any Affiliate Subsidiary 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 provide more favorable terms to the related buyer or lender thereunder 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 7(z) of the Pricing Side Letter (Financial Covenants) Guaranty or any substantially similar covenants (a “More Favorable Agreement”), (i) then Guarantor shall give Buyer prompt notice thereof and (ii) 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 Administrative Agent, Buyers or an Affiliate of Administrative Agent or Buyers; provided, that in the event that such More Favorable Agreement is terminated, upon notice by Seller Guarantor to Administrative Agent Buyer of such termination, the original terms of this Agreement shall be deemed to be automatically reinstated without any further action or consent on the part of the parties heretoreinstated. Administrative AgentSeller, Seller Guarantor and Buyers Xxxxx 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. Seller, Administrative Agent Borrower covenants and Buyers each agree 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 Administrative Agent or a Buyer or an Affiliate (including, without limitation, any of Administrative Agent or a Buyer its Affiliates) which by its terms provides more favorable terms with respect to any guaranties or financial covenantsor other material covenants (each, 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 Borrower shall provide Bank with prompt notice of such more favorable terms contained in such More Favorable Agreement and the terms of this 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 Administrative Agent, Buyers or an Affiliate of Administrative Agent or BuyersBank hereunder; provided, that in the event that such More Favorable Agreement is terminated, upon notice by Seller Borrower to Administrative Agent Bank of such termination, the original terms of this Agreement shall be deemed to be automatically reinstated without reinstated. Promptly upon Borrower or any further action Affiliate thereof entering into a repurchase agreement or consent on the part other credit facility with any Person, Borrower shall deliver to Bank a true, correct and complete summary of the parties hereto. Administrative Agent, Seller and Buyers further agree to execute and deliver any new guaranties, agreements or amendments to this Agreement evidencing more favorable terms in 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 heretoMore Favorable Agreement.

Most Favored Status. Seller, Administrative Agent and Buyers each agree 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 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, that in the event that such More Favorable Agreement is terminated, upon notice by Seller to Administrative Agent Buyer of such termination, the original terms of this Repurchase Agreement shall be deemed to be automatically reinstated without any reinstated. Seller each further action or consent on the part of the parties hereto. Administrative Agent, Seller and Buyers further agree agrees to execute and deliver any new guaranties, additional agreements or amendments to this Repurchase Agreement evidencing such provisionsmore favorable terms, provided that the execution of such amendment shall agreements or amendments will not be a precondition to the effectiveness of such amendmentthereof, but shall 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 of such More Favorable Agreement.