Common use of Price Differential Clause in Contracts

Price Differential. (i) On each Business Day that a Transaction is outstanding, the Pricing Rate shall be reset and, unless otherwise agreed, the accrued and unpaid Price Differential for each Price Differential Collection Period shall be settled in cash on the following Price Differential Payment Date. Two (2) Business Days prior to the Price Differential Payment Date, Buyer shall give Seller written or electronic notice of the amount of the Price Differential due on such Price Differential Payment Date. On the Price Differential Payment Date, Seller shall pay to Buyer the Price Differential for such Price Differential Payment Date (along with any other amounts due from Seller under this Agreement or any other Facility Document), by wire transfer in immediately available funds to the account set forth in Section 10(a) hereof. (ii) If Seller fails to pay all or part of the Price Differential by 6:00 p.m. (New York City time) on the related Price Differential Payment Date, with respect to any Purchased Mortgage Loans, Seller shall be obligated to pay to Buyer (in addition to, and together with, the amount of such Price Differential) interest on the unpaid Repurchase Price at a rate per annum equal to the Post-Default Rate until the Price Differential is received in full by Buyer. For the avoidance of doubt, Seller’s obligation to pay any Price Differential to Buyer shall not be deemed to be satisfied (and such Price Differential shall not deemed to be paid to Buyer) until the amount of such Price Differential is actually received by Buyer in the account of Buyer that is referenced in Section 10(a) of this Agreement (and not the Settlement Account or any other account).

Price Differential. (i) On each Business Day that a Transaction is outstanding, the Pricing Rate shall be reset and, unless otherwise agreed, the accrued and unpaid Price Differential for each Price Differential Collection Period shall be settled in cash on the following Price Differential Payment Date. Two (2) Business Days prior to the Price Differential Payment Date, Buyer shall give Seller written or electronic notice of the amount of the Price Differential due on such Price Differential Payment Date. On the Price Differential Payment Date, Seller shall pay to Buyer the Price Differential for such Price Differential Payment Date (along with any other amounts due from Seller under this Agreement or any other Facility Document), by wire transfer in immediately available funds to the account set forth in Section 10(a) hereoffunds. (ii) If Seller fails to pay all or part of the Price Differential by 6:00 p.m. [***] (New York City time) on the related Price Differential Payment Date, with respect to any Purchased Mortgage Loans, Seller shall be obligated to pay to Buyer (in addition to, and together with, the amount of such Price Differential) interest on the unpaid Repurchase Price at a rate per annum equal to the Post-Default Rate until the Price Differential is received in full by Buyer. For the avoidance of doubt, Seller’s obligation to pay any Price Differential to Buyer shall not be deemed to be satisfied (and such Price Differential shall not deemed to be paid to Buyer) until the amount of such Price Differential is actually received by Buyer in the account of Buyer that is referenced in Section 10(a) of this Agreement (and not the Settlement Disbursement Account or any other account).

Price Differential. (i) On each Business Day that a Transaction is outstanding, the a. The Pricing Rate shall be reset once per Accrual Period (as defined in the Pricing Side Letter) on the related LIBOR Determination Date (as defined in the Pricing Side Letter) and, in each case, unless otherwise agreed, the accrued and unpaid Price Differential for each Price Differential Collection Period shall be settled paid on each related Payment Date as set forth in cash on the following Price Differential Payment DateSection 7. Two (2) Business Days prior to the Price Differential Payment Date, Buyer shall give Seller Sellers written or electronic notice of the amount of the Price Differential due on such Price Differential Payment Date. On the Price Differential Payment Date, Seller Sellers shall pay or cause to be paid to Buyer pursuant to Section 7 hereof the accrued and unpaid Price Differential for such Price Differential Payment Date (along with any other amounts due from Seller under this Agreement or any other Facility Documentto be paid pursuant to Section 7 hereof), by wire transfer in immediately available funds to the account set forth in Section 10(a) hereof. (ii) b. If Seller fails Sellers fail to pay or cause to be paid all or part of the Price Differential by 6:00 3:00 p.m. (New York City time) on the related Price Differential Payment Date, with respect to any Purchased Mortgage LoansAsset, Seller Sellers shall be obligated to pay to Buyer (in addition to, and together with, the amount of such Price Differential) interest on the portion of the unpaid Repurchase Price related to the past due Price Differential at a rate per annum equal to the Post-Post Default Rate until the Price Differential is received in full by Buyer. For the avoidance of doubt, Seller’s obligation to pay any Price Differential to Buyer shall not be deemed to be satisfied (and such Price Differential shall not deemed to be paid to Buyer) until the amount of such Price Differential is actually received by Buyer in the account of Buyer that is referenced in Section 10(a) of this Agreement (and not the Settlement Account or any other account).

Price Differential. (i) On each Business Day that a Transaction is outstanding, the Pricing Rate shall be reset and, unless otherwise agreed, the accrued and unpaid Price Differential for each Price Differential Collection Period shall be settled in cash on the following Price Differential Payment Date. Two (2) Business Days prior to the Price Differential Payment Date, Buyer shall give Seller written or electronic notice of the amount of the Price Differential due on such Price Differential Payment Date. On the Price Differential Payment Date, Seller shall pay to Buyer the Price Differential Differential, if any, for such Price Differential Payment Date (along with any other amounts then due from Seller under this Agreement or any other Facility Document), by wire transfer in immediately available funds to the account set forth in Section 10(a) hereoffunds. (ii) If Seller fails to pay all or part of the Price Differential by 6:00 p.m. (New York City time) on the related Price Differential Payment Date, with respect to any Purchased Mortgage Loans, Seller shall be obligated to pay to Buyer (in addition to, and together with, the amount of such Price Differential) interest on the unpaid Repurchase Price at a rate per annum equal to the Post-Default Rate until the Price Differential is received in full by Buyer. For the avoidance of doubt, Seller’s obligation to pay any Price Differential to Buyer shall not be deemed to be satisfied (and such Price Differential shall not deemed to be paid to Buyer) until the amount of such Price Differential is actually received by Buyer in the account of Buyer that is referenced in Section 10(a) of this Agreement (and not the Settlement Account or any other account).

Price Differential. Price Differential shall accrue on each Transaction for each day during a related Price Differential Period at a per annum rate equal to the product of (x) the outstanding aggregate amount of the Purchase Price on such day, multiplied by (y) the sum of (i) On each Business Day that a Transaction is outstandingthe applicable LIBOR Rate for such day and (ii) the Applicable Margin (clauses (i) and (ii), collectively, the “Pricing Rate Rate”). Price Differential shall be reset and, unless otherwise agreed, the accrued and unpaid Price Differential for payable on each Price Differential Collection Period shall be settled Payment Date in cash on arrears with respect to each Transaction through the following final day of each Price Differential Payment DatePeriod (regardless whether such day is a Business Day). Two The Administrative Agent shall determine the LIBOR Rate for each Transaction, which may be reset on a daily basis, as set forth in the definition of “LIBOR Rate” and provide notice of such determination to the Seller. The Buyer shall also calculate the amount of Price Differential or other amounts due to be paid by the Seller from time to time hereunder (including in connection with any prepayment or repayment of the Repurchase Price permitted hereunder) and shall provide a written statement thereof to the Seller at least two (2) Business Days prior to the Price Differential Payment Datedue date of such payments (or the relevant repayment or prepayment after having received a notice thereof); provided, Buyer that failure to provide such statements on a timely basis shall give not relieve the Seller written or electronic notice of the amount of the Price Differential due on such Price Differential Payment Date. On the Price Differential Payment Date, Seller shall pay to Buyer the Price Differential for such Price Differential Payment Date (along with any other amounts due from Seller under this Agreement or any other Facility Document), by wire transfer in immediately available funds to the account set forth in Section 10(a) hereof. (ii) If Seller fails to pay all or part of the Price Differential by 6:00 p.m. (New York City time) on the related Price Differential Payment Date, with respect to any Purchased Mortgage Loans, Seller shall be obligated to pay to Buyer (in addition to, and together with, the amount of such Price Differential) interest on the unpaid Repurchase Price at a rate per annum equal to the Post-Default Rate until the Price Differential is received in full by Buyer. For the avoidance of doubt, Seller’s obligation to pay any Price Differential to Buyer shall not be deemed and Purchase Price due on the applicable payment date (based upon its good faith calculation of the amount due, such amount to be satisfied (and such Price Differential shall not deemed to be paid to promptly reconciled after receipt of a subsequent statement from the Buyer) until the amount and other such amounts hereunder promptly upon receipt of such Price Differential is actually received by Buyer in the account of Buyer that is referenced in Section 10(a) of this Agreement (and not the Settlement Account or any other account)statement.

Price Differential. (i) On each Business Day that a Transaction is outstanding, the a. The Pricing Rate shall be reset (i) in the event that the Conduit Cost of Funds Rate (as defined in the Pricing Side Letter) is applicable to the Pricing Rate, on a daily basis and (ii) in the event that LIBOR (as defined in the Pricing Side Letter) is applicable to the Pricing Rate, once per Accrual Period (as defined in the Pricing Side Letter), on the related LIBOR Determination Date (as defined in the Pricing Side Letter), and, in each case, unless otherwise agreed, the accrued and unpaid Price Differential for each Price Differential Collection Period shall be settled in cash on the following Price Differential each related Payment Date. Two (2) Business Days prior to the Price Differential Payment Date, Buyer shall give Seller written or electronic notice of the amount of the Price Differential due on such Price Differential Payment Date. On the Price Differential Payment Date, Seller shall pay to Buyer the Price Differential for such Price Differential Payment Date (along with any other amounts due from Seller under this Agreement or any other Facility Documentto be paid pursuant to Sections 7 hereof), by wire transfer in immediately available funds to the account set forth in Section 10(a) hereoffunds. (ii) b. If Seller fails to pay all or part of the Price Differential by 6:00 3:00 p.m. (New York City time) on the related Price Differential Payment Date, with respect to any Purchased Mortgage LoansAsset, Seller shall be obligated to pay to Buyer (in addition to, and together with, the amount of such Price Differential) interest on the portion of the unpaid Repurchase Price related to the past due Price Differential at a rate per annum equal to the Post-Post Default Rate until the Price Differential is received in full by Buyer. For the avoidance of doubt, Seller’s obligation to pay any Price Differential to Buyer shall not be deemed to be satisfied (and such Price Differential shall not deemed to be paid to Buyer) until the amount of such Price Differential is actually received by Buyer in the account of Buyer that is referenced in Section 10(a) of this Agreement (and not the Settlement Account or any other account).

Price Differential. (i) a. On the beginning of each Business Day LIBOR Period that a Transaction is outstanding, the Pricing Rate shall be reset and, unless otherwise agreed, the accrued and unpaid Price Differential for each Price Differential Collection Period shall be settled in cash on the following each related Price Differential Payment Date. Two (2) Business Days prior to the Price Differential Payment Date, Buyer shall give Seller written or electronic notice of the amount of the Price Differential due on such Price Differential Payment Date. On the Price Differential Payment Date, Seller shall pay to Buyer (to the extent not paid on such date through the distributions required pursuant to Sections 7(d) or 7(e) hereof) the accrued but unpaid Price Differential and the accrued but unpaid Administration Fee for such Price Differential Payment Date (along with any other amounts due from Seller under this Agreement or any other Facility Documentto be paid pursuant to Section 7 and Section 34), by wire transfer in immediately available funds to the account set forth in Section 10(a) hereoffunds. (ii) b. If Seller fails to pay all or part of the Price Differential by 6:00 4:00 p.m. (New York City time) on the related Price Differential Payment Date, with respect to any Purchased Mortgage LoansAsset, Seller shall be obligated to pay to Buyer (in addition to, and together with, the amount of such Price Differential) interest on the unpaid Repurchase Price at a rate per annum equal to the Post-Post Default Rate until the Price Differential is received in full by Buyer. For the avoidance of doubt, Seller’s obligation to pay any Price Differential to Buyer shall not be deemed to be satisfied (and such Price Differential shall not deemed to be paid to Buyer) until the amount of such Price Differential is actually received by Buyer in the account of Buyer that is referenced in Section 10(a) of this Agreement (and not the Settlement Account or any other account).

Price Differential. (i) On each Business Day that a Transaction is outstanding[***], the Pricing Rate shall be reset and, unless otherwise agreed, the accrued and unpaid Price Differential for each Price Differential Collection Period shall be settled in cash on the following Price Differential Payment Date. Two (2) Business Days [***] prior to the Price Differential Payment Date, Buyer shall give Seller written or electronic notice of the amount of the Price Differential due on such Price Differential Payment Date. On the Price Differential Payment Date, Seller shall pay to Buyer the Price Differential Differential, if any, for such Price Differential Payment Date (along with any other amounts then due from Seller under this Agreement or any other Facility Document), by wire transfer in immediately available funds to the account set forth in Section 10(a) hereoffunds. (ii) If Seller fails to pay all or part of the Price Differential by 6:00 p.m. (New York City time) on the related Price Differential Payment Date[***], with respect to any Purchased Mortgage Loans, Seller shall be obligated to pay to Buyer (in addition to, and together with, the amount of such Price Differential) interest on the unpaid Repurchase Price at a rate per annum equal to the Post-Default Rate until the Price Differential is received in full by Buyer. For the avoidance of doubt, Seller’s obligation to pay any Price Differential to Buyer shall not be deemed to be satisfied (and such Price Differential shall not deemed to be paid to Buyer) until the amount of such Price Differential is actually received by Buyer in the account of Buyer that is referenced in Section 10(a) of this Agreement (and not the Settlement Account or any other account).

Price Differential. (i) On each Business Day that a Transaction is outstanding, the Pricing Rate shall be reset and, unless otherwise agreed, the accrued and unpaid Price Differential for each Price Differential Collection Period shall be settled in cash on the following Price Differential Payment Date. Two (2) Business Days prior to the Price Differential Payment Date, Buyer shall give Seller written or electronic notice of the amount of the Price Differential due on such Price Differential Payment Date. On the Price Differential Payment Date, Seller shall pay to Buyer the Price Differential for such Price Differential Payment Date (along with any other amounts due from Seller under this Agreement or any other Facility Document), by wire transfer in immediately available funds to the account set forth in Section 10(a) hereof. (ii) If Seller fails to pay all or part of the Price Differential by 6:00 p.m. [***] (New York City time) on the related Price Differential Payment Date, with respect to any Purchased Mortgage Loans, Seller shall be obligated to pay to Buyer (in addition to, and together with, the amount of such Price Differential) interest on the unpaid Repurchase Price at a rate per annum equal to the Post-Default Rate until the Price Differential is received in full by Buyer. For the avoidance of doubt, Seller’s obligation to pay any Price Differential to Buyer shall not be deemed to be satisfied (and such Price Differential shall not deemed to be paid to Buyer) until the amount of such Price Differential is actually received by Buyer in the account of Buyer that is referenced in Section 10(a) of this Agreement (and not the Settlement DisbursementSettlement Account or any other account).

Price Differential. (i) On each Business Day that a Transaction is outstanding, the a. The Pricing Rate shall be reset once per Accrual Period, on the related Periodic Term SOFR Determination Date, and, in each case, unless otherwise agreed, the accrued and unpaid Price Differential for each Price Differential Collection Period shall be settled in cash on the following Price Differential each related Payment DateDate as set forth in Section 7. Two (2) Business Days prior to the Price Differential Payment Date, Buyer shall give Seller written or electronic notice of the amount of the Price Differential due on such Price Differential Payment Date. On the Price Differential Payment Date, Seller shall pay or cause to be paid to Buyer pursuant to Section 7 hereof the accrued and unpaid Price Differential for such Price Differential Payment Date (along with any other amounts due from Seller under this Agreement or any other Facility Documentto be paid pursuant to Section 7 hereof), by wire transfer in immediately available funds to the account set forth in Section 10(a) hereof. (ii) b. If Seller fails to pay or cause to be paid all or part of the Price Differential by 6:00 3:00 p.m. (New York City time) on the related Price Differential Payment Date, with respect to any Purchased Asset (and/or the related Underlying Mortgage Loans), Seller shall be obligated to pay to Buyer (in addition to, and together with, the amount of such Price Differential) interest on the portion of the unpaid Repurchase Price related to the past due Price Differential at a rate per annum equal to the Post-Post Default Rate until the Price Differential is received in full by Buyer. For the avoidance of doubt, Seller’s obligation to pay any Price Differential to Buyer shall not be deemed to be satisfied (and such Price Differential shall not deemed to be paid to Buyer) until the amount of such Price Differential is actually received by Buyer in the account of Buyer that is referenced in Section 10(a) of this Agreement (and not the Settlement Account or any other account).

Price Differential. (i) On a. The Pricing Rate shall be reset with respect to each Business Day Libor Period that a Transaction is outstanding, the Pricing Rate shall be reset and, unless otherwise agreed, the accrued and unpaid Price Differential for each Price Differential Collection Period shall be settled in cash on the following related Price Differential Payment DateDate immediately following such Libor Period. Two (2) Business Days prior to the Price Differential Payment Date, Buyer shall give Seller written or electronic notice of the amount of the Price Differential due on such Price Differential Payment Date. On the Price Differential Payment Date, Seller shall pay to Buyer (to the extent not paid on such date through the distributions required pursuant to Sections 7(d), 7(e) or 34 hereof) the accrued but unpaid Price Differential and the accrued but unpaid Administration Fee for such Price Differential Payment Date (along with any other amounts due from Seller under this Agreement or any other Facility Document)Date, by wire transfer in immediately available funds to the account set forth in Section 10(a) hereoffunds. (ii) b. If Seller fails to pay (through Sections 7(d), 7(e), 34 or the preceding clause (a)), all or part of the Price Differential by 6:00 3:00 p.m. (New York City time) on the related Price Differential Payment Date, with respect to any Purchased Mortgage LoansAsset, Seller shall be obligated to pay to Buyer (in addition to, and together with, the amount of such Price Differential) the amount by which interest on the unpaid Repurchase Price at a rate per annum equal to the Post-Post Default Rate exceeds the amount of such Price Differential, until the unpaid Price Differential is received in full by Buyer. For the avoidance of doubt, Seller’s obligation to pay any Price Differential to Buyer shall not be deemed to be satisfied (and such Price Differential shall not deemed to be paid to Buyer) until the amount of such Price Differential is actually received by Buyer in the account of Buyer that is referenced in Section 10(a) of this Agreement (and not the Settlement Account or any other account).