Common use of Pricing Rate for Past Due Purchased Loans Clause in Contracts

Pricing Rate for Past Due Purchased Loans. Notwithstanding any contrary or inconsistent provision of this Section 5, the Pricing Rate to be multiplied by the Purchase Prices of all Past Due Purchased Loans shall be the Past Due Rate from (and including) (a) the day immediately following the Repurchase Date for each such Past Due Purchased Loan and until (but excluding) the date on which such Past Due Purchased Loan is repurchased by transfer to the Administrative Agent (for Pro Rata distribution to the Buyers) of its full Repurchase Price in immediately available funds; and (b) the occurrence of an Event of Default under Section 18.1.