Common use of No Novation, Effect of Agreement Clause in Contracts

No Novation, Effect of Agreement. Guarantor, Seller and Buyer have entered into this Amendment and the Fee Letter Amendment solely to amend the terms of the Repurchase Agreement and the Fee Letter and do not intend this Amendment, the Fee Letter Amendment or the transactions contemplated hereby to be, and this Amendment, the Fee Letter Amendment and the transactions contemplated hereby shall not be construed to be, a novation of any of the obligations owing by Seller or Guarantor (the “Repurchase Parties”) under or in connection with the Repurchase Agreement, the Fee Letter or any of the other document executed in connection therewith to which any Repurchase Party is a party (the “Repurchase Documents”). It is the intention of each of the parties hereto that (i) the perfection and priority of all security interests securing the payment of the obligations of the Repurchase Parties under the Repurchase Agreement and the other Repurchase Documents are preserved, (ii) the liens and security interests granted under the Repurchase Agreement continue in full force and effect, and (iii) any reference to the Repurchase Agreement and Fee Letter in any such Repurchase Document shall be deemed to also reference this Amendment and the Fee Letter Amendment, respectively.

No Novation, Effect of Agreement. Guarantor, Seller and Buyer have entered into this Amendment and the Fee Letter Amendment solely to amend the terms of the Master Repurchase Agreement and the Fee Letter Guarantee Agreement and do not intend this Amendment, the Fee Letter Amendment or the transactions contemplated hereby to be, and this Amendment, the Fee Letter Amendment and the transactions contemplated hereby shall not be construed to be, a novation of any of the obligations owing by Seller or Guarantor (the “Repurchase Parties”) under or in connection with the Master Repurchase Agreement, the Fee Letter Guarantee Agreement or any of the other document executed in connection therewith to which any Repurchase Party is a party (the “Repurchase Documents”). It is the intention of each of the parties hereto that (i) the perfection and priority of all security interests securing the payment of the obligations of the Repurchase Parties under the Master Repurchase Agreement and the other Repurchase Documents are preserved, (ii) the liens and security interests granted under the Master Repurchase Agreement continue in full force and effect, and (iii) any reference to the Master Repurchase Agreement and Fee Letter or the Guarantee Agreement in any such Repurchase Document shall be deemed to also reference this Amendment and the Fee Letter Amendment, respectively.

No Novation, Effect of Agreement. Guarantor, Seller and Buyer have entered into this Amendment and the Fee Letter Amendment solely to amend the terms of the Repurchase Agreement and the Fee Letter Guarantee Agreement and do not intend this Amendment, the Fee Letter Amendment or the transactions contemplated hereby to be, and this Amendment, the Fee Letter Amendment and the transactions contemplated hereby shall not be construed to be, a novation of any of the obligations owing by Seller or Guarantor (the “Repurchase Parties”) under or in connection with the Repurchase Agreement, the Fee Letter Guarantee Agreement or any of the other document executed in connection therewith to which any Repurchase Party is a party (the “Repurchase Documents”). It is the intention of each of the parties hereto that (i) the perfection and priority of all security interests securing the payment of the obligations of the Repurchase Parties under the Repurchase Agreement and the other Repurchase Documents are preserved, (ii) the liens and security interests granted under the Repurchase Agreement continue in full force and effect, and (iii) any reference to the Repurchase Agreement and Fee Letter or the Guarantee Agreement in any such Repurchase Document shall be deemed to also reference this Amendment and the Fee Letter Amendment, respectively. SECTION 10.

No Novation, Effect of Agreement. Guarantor, Seller Sellers and Buyer have entered into this Amendment and the Fee Letter Amendment Agreement solely to amend and restate in their entirety the terms of the Fifth Amended and Restated Master Repurchase Agreement and the Fee Letter and do not intend this Amendment, the Fee Letter Amendment Agreement or the transactions contemplated hereby to be, and this Amendment, the Fee Letter Amendment Agreement and the transactions contemplated hereby shall not be construed to be, a novation of any of the obligations owing by Seller Sellers, Guarantor or Guarantor Pledgors (the “Repurchase Parties”) under or in connection with the Fifth Amended and Restated Master Repurchase Agreement, the Fee Letter Pledge Agreement or any of the other document executed in connection therewith Repurchase Documents to which any Repurchase Party is a party (the “Repurchase Documents”)party. It is the intention of each of the parties hereto that (i) the perfection and priority of all security interests securing the payment of the obligations Repurchase Obligations of the Repurchase Parties under the Fifth Amended and Restated Master Repurchase Agreement and the other Repurchase Documents Pledge Agreement are preserved, (ii) the liens and security interests granted under the Fifth Amended and Restated Master Repurchase Agreement and the Pledge Agreement continue in full force and effect, and (iii) any reference to the Fifth Amended and Restated Master Repurchase Agreement and Fee Letter in any such Repurchase Document shall be deemed to also reference this Amendment and the Fee Letter Amendment, respectively.Agreement. [ONE OR MORE UNNUMBERED SIGNATURE PAGES FOLLOW]