Rate Confirmation. Within one Business Day after receipt of the completed and executed Rate Setting Form, the Lender shall solicit bids from institutional investors selected by the Lender based on the information in the Rate Setting Form and, provided the actual Coupon Rate (if the low bid were accepted) would be at or below the Maximum Annual Coupon Rate, shall obtain a commitment (“MBS Commitment”) for the purchase of a Xxxxxx Mae MBS having the bid terms described in the related Rate Setting Form, and shall immediately deliver to the Borrower by facsimile transmission a completed document, in the form attached as Exhibit N to this Agreement (“Rate Confirmation Form”). The Rate Confirmation Form will confirm:
(i) for a Variable Advance, the amount, term, MBS Issue Date, MBS Delivery Date, MBS Imputed Interest Rate, Variable Facility Fee, Coupon Rate, Discount, Price, and Closing Date for the Advance; and
(ii) for a Fixed Facility Advance, the amount, term, MBS Issue Date, MBS Delivery Date, MBS Pass-Through Rate, Fixed Facility Fee, Coupon Rate, Price, Yield Maintenance Period, Specified U.S. Treasury Security, Amortization Period and Closing Date for the Advance.
Rate Confirmation. Within one (1) Business Day after receipt of the Rate Lock Deposit and completed and executed Interest Rate Lock Agreement, the Lender shall solicit bids from institutional investors selected by the Lender based on information in the Interest Rate Lock Agreement, and provided the actual Interest Rate on the Future Additional Mortgaged Property Term Loan would be at or below the Maximum Rate, shall obtain a commitment ("MBS Commitment") for the purchase of Xxxxxx Xxx MBS having the bid terms described in the Interest Rate Lock Agreement, and shall immediately deliver to the Borrowing Agent by facsimile transmission a completed document in the form of Exhibit H ("Rate Confirmation Form").
Rate Confirmation. In the case of a DMBS execution, within one (1) Business Day after receipt of the Rate Form and upon satisfaction of all of the conditions to Lender’s obligation to make the Advance, Lender shall solicit bids from institutional investors selected by Lender based on the information in the Rate Form and, provided the actual Coupon Rate would be at or below the Maximum Annual Coupon Rate, shall obtain a commitment (“DMBS Commitment”) for the purchase of an DMBS having the bid terms described in the related Rate Form. In the case of a cash execution, within one (1) Business Day after receipt of the Rate Form, Lender shall obtain a commitment from Xxxxxx Mae (“Xxxxxx Xxx Commitment”) for the purchase of the proposed Advance having the terms described in the related Rate Form. Lender shall then complete and countersign the Rate Form thereby confirming the amount, term, and Closing Date for the Advance, in the case of a Variable Advance, the DMBS Issue Date, DMBS Delivery Date or DMBS Imputed Interest Rate, Variable Facility Fee, Coupon Rate, Discount and Price, and in the case of a Fixed Advance, the Cash Interest Rate and shall immediately deliver by facsimile transmission the Rate Form to Borrower.
Rate Confirmation. Within one Business Day after receipt of the Rate Form, Lender shall solicit bids from institutional investors selected by Lender based on the information in the Rate Form and, provided the actual Coupon Rate (if the low bid were accepted) would be at or below the Maximum Annual Coupon Rate, shall obtain a commitment ("MBS Commitment") for the purchase of an MBS having the bid terms described in the related Rate Form. Lender shall then complete and countersign the Rate Form thereby confirming the amount, term, MBS Issue Date, MBS Delivery Date, MBS Imputed Interest Rate or MBS Pass-Through Rate, Facility Fee, Coupon Rate, Discount, Price, and Closing Date for the Advance and shall immediately deliver by facsimile transmission the Rate Form to Borrower.
Rate Confirmation. Within one (1) Business Day after receipt of the Rate Form, Servicer shall obtain a commitment from Lender’s trading desk (“Xxxxxx Xxx Commitment”) for the extended and converted Loan having the terms described in the related Rate Form. Servicer shall then complete and sign the Rate Form thereby confirming the amount, term, Adjustable Rate, Variable Loan Fee and Closing Date for the conversion/Extension and shall immediately deliver by facsimile transmission (or via electronic mail in PDF format) the Rate Form to the applicable Collateral Pool Borrower to be countersigned.
Rate Confirmation. In the case of an MBS execution, within one (1) Business Day after receipt of the Rate Form and upon satisfaction of all of the conditions for conversion, Lender shall solicit bids from institutional investors selected by Lender based on the information in the Rate Form and, provided the MBS Pass-Through Rate would be at or below the Maximum Annual Interest Rate, shall obtain a commitment (“MBS Commitment”) for the purchase of an MBS having the bid terms described in the related Rate Form. In the case of a cash execution, within one (1) Business Day after receipt of the Rate Form, Lender shall obtain a commitment from Xxxxxx Xxx (“Xxxxxx Xxx Commitment”) for the converted Fixed Loan having the terms described in the related Rate Form. Lender shall then complete and countersign the Rate Form thereby confirming the amount, term, and Closing Date for the conversion, for a Fixed Loan with an MBS execution, the MBS Issue Date, MBS Delivery Date, MBS Pass-Through Rate, and Fixed Facility Fee and for a Fixed Loan with a cash execution, the Cash Interest Rate, and shall immediately deliver by facsimile transmission the Rate Form to Borrower.
Rate Confirmation. Within one Business Day ----------------- after receipt of the completed and executed Rate Setting Form, the Lender shall solicit bids from institutional investors selected by the Lender based on the information in the Rate Setting Form and, provided the actual Coupon Rate is at or below the Maximum Annual Coupon Rate, shall obtain a commitment for the purchase of a Xxxxxx Mae MBS having the characteristics described in the related Rate Setting Form, and shall immediately deliver to the Borrowers or the Property Company, as the case may be, by facsimile transmission a completed document, in the form attached as Exhibit Q-1 or Q-2 to this Agreement (the "Rate ------------------ ---- Confirmation Form"), as the case may be, confirming the amount, term, ----------------- MBS Issue Date, MBS Delivery Date, Coupon Rate, the Discount (if the Advance is a Revolving Facility Advance), Price and Closing Date for the Advance.
Rate Confirmation. In the case of a an MBS execution, within one (1) Business Day after receipt of the draft Rate Form and upon satisfaction of all of the conditions relating to the making of a Loan or converting of a Loan, Lender shall solicit bids from institutional investors selected by Lender based on the information in the Rate Form. If Lender obtains a commitment (“Investor Commitment”) on terms equivalent (or better for Borrower than) the terms in the draft Rate Form, Lender shall then complete and countersign the Rate Form thereby confirming the terms set forth therein, and shall immediately deliver the confirmed Rate Form to Borrower (via facsimile) for the purchase of an MBS having the bid terms described in the draft Rate Form. In the case of a cash execution, within one (1) Business Day after receipt of the Rate Form, Lender shall obtain a commitment from Fxxxxx Mxx (“Fxxxxx Mxx Commitment”) for the purchase of the proposed Loan having the terms described in the draft Rate Form. If Lender obtains a Cash Commitment on terms equivalent (or better for Borrower than) the terms in the draft Rate Form, Lender shall complete and sign the Rate Form thereby confirming the terms set forth therein and shall immediately deliver (via facsimile) the confirmed Rate Form to Borrower.
Rate Confirmation. Within one Business Day after receipt of the completed and executed Rate Setting Form, the Lender shall solicit bids from institutional investors selected by the Lender based on the information in the Rate Setting Form and, provided the actual Coupon Rate (if such bid were accepted) would be at or below the Maximum Annual Coupon Rate, shall obtain a commitment (the "MBS COMMITMENT") for the purchase of a Xxxxxx Mae MBS having the bid terms described in the related Rate Setting Form (which bid terms shall be from the bidder with the lowest MBS Pass-Through Rate or the lowest MBS Imputed Interest Rate, as applicable), and shall immediately deliver to the Borrower by facsimile transmission a completed document, in the form attached as EXHIBIT S-1 OR S-2 to this Agreement, as applicable (the "RATE CONFIRMATION FORM") confirming the amount, term, MBS Issue Date, MBS Delivery Date, MBS Pass-Through Rate (if the Advance is a Base Facility Advance), MBS Imputed Interest Rate (if the Advance is a Revolving Facility Advance), Fee Spread, Coupon Rate, Discount (if the Advance is a Revolving Facility Advance), Price, Yield Maintenance Period (if the Advance is a Base Facility Advance), Specified U.S. Treasury Security (if the Advance is a Base Facility Advance), Amortization Period (if the Advance is a Base Facility Advance) and Closing Date for the Advance. The term "MBS PASS-THROUGH RATE" means, for a specified Xxxxxx Xxx MBS backed by a Base Facility Advance, the interest rate per annum (rounded to three places) payable for the Xxxxxx Mae MBS pursuant to the MBS Commitment. The term "MBS IMPUTED INTEREST RATE" means, for a specified Xxxxxx Xxx MBS backed by a Revolving Facility Advance, the imputed interest rate per annum (rounded to three places) which the specified Xxxxxx Mae MBS will bear based on the MBS Commitment. The MBS Imputed Interest Rate shall be calculated in accordance with the following formula:
Rate Confirmation. Within one Business Day after receipt ----------------- of the completed and executed Rate Setting Form, the Lender shall solicit bids from institutional investors selected by the Lender based on the information in the Rate Setting Form, shall obtain a commitment ("MBS Commitment") for the -------------- purchase of a Fannie Mae MBS having the bid terms described in the related Rate Xxxxxng Form, and shall immediately deliver to the Borrower by facsimile transmission a completed document, in the form attached as Exhibit N to this --------- Agreement ("Rate Confirmation Form"). The Rate Confirmation Form will confirm: ----------------------
(i) for a Revolving Advance, the amount, term, MBS Issue Date, MBS Delivery Date, MBS Imputed Interest Rate, Revolving Facility Fee, Coupon Rate, Discount, Price, and Closing Date for the Advance; and
(ii) for a Base Facility Advance, the amount, term, MBS Issue Date, MBS Delivery Date, MBS Pass-Through Rate, Base Facility Fee, Coupon Rate, Price, Yield Maintenance Period, Specified U.S. Treasury Security, Amortization Period and Closing Date for the Advance.
