Procedure for Requesting Transactions Clause Samples

Procedure for Requesting Transactions. (a) Subject to the satisfaction of the conditions specified in Section 2.01 and 2.02 and until the Buyer has purchased (without repurchase by the Sellers hereunder) Eligible Assets with an aggregate Asset Value of at least the Commitment Amount, the Buyer agrees to purchase any Eligible Asset offered to it hereunder. The Buyer shall not be obligated to purchase Eligible Assets in excess of the then current Commitment Amount. To the extent the Buyer has purchased (without repurchase by the Sellers hereunder) Eligible Assets with an aggregate Asset Value of at least the Commitment Amount, the decision of the Buyer to purchase any Eligible Asset shall be at the Buyer’s sole discretion. In the event that the Buyer elects to reject a Mortgage Loan offered by the Sellers for any reason, all documents shall be returned by the Custodian to the related Seller pursuant to the Custodial Agreement. (b) The Sellers shall request a Transaction by delivering to the Custodian and the Buyer via Electronic Transmission a request in the form of Exhibit I attached hereto (a “Transaction Request”) together with the related loan data tape with individual Mortgage Loan details, by (i) 4:30 p.m., New York City time, one (1) Business Day prior to the requested Purchase Date for any Eligible Assets which are not Wet-Ink Mortgage Loans, and (ii) 6:00 p.m., New York City time, one (1) Business Day prior to the Purchase Date for any Eligible Assets which are Wet-Ink Mortgage Loans. Such Transaction Request shall set forth (i) the Purchase Date, (ii) the Repurchase Date and the Final Repurchase Date, (iv) the Pricing Rate applicable to the Transaction and (v) additional terms or conditions not inconsistent with this Agreement. Such Transaction Request shall include, as attachments, (i) a Mortgage Loan Schedule in electronic form containing detailed information with respect to Eligible Assets (other than the Wet-Ink Mortgage Loans) that the Sellers proposes to sell to the Buyer hereunder, and (ii) a certificate signed by the Sellers as required by Section 2.01(d) hereof. With respect to Wet-Ink Mortgage Loans, the Sellers shall provide the Buyer with a detailed listing of the Wet-Ink Mortgage Loans the Sellers propose to pledge by 4:30 p.m., New York City time, on the requested Purchase Date. (c) With respect to each Eligible Asset that is not a Wet-Ink Mortgage Loan: (i) No later than 12:00 p.m., New York City time, two (2) Business Days (or such lesser time as the Custodian and Seller...