Common use of Repurchase Agreements; Derivatives; Securitizations Clause in Contracts

Repurchase Agreements; Derivatives; Securitizations. With respect to all agreements currently outstanding pursuant to which any TPB Company has purchased securities subject to an agreement to resell, such TPB Company has a valid, perfected first lien or security interest in the securities or other collateral securing such agreement, and the value of such collateral equals or exceeds the amount of the debt secured thereby. With respect to all agreements currently outstanding pursuant to which any TPB Company has sold securities subject to an agreement to repurchase, no TPB Company has pledged collateral in excess of the amount of the debt secured thereby. No TPB Company has pledged collateral in excess of the amount required under any interest rate swap or other similar agreement currently outstanding. All interest rate swaps, caps, floors and option agreements and other interest rate risk management arrangements, whether entered into for the account of any TPB Company or for the account of a customer of any TPB Company, were entered into in the ordinary course of business and in accordance with prudent banking practice and applicable rules, regulations and policies of any Regulatory Authority and with counterparties believed to be financially responsible at the time and are legal, valid and binding obligations of such TPB Company, enforceable according to their terms. Each TPB Company has duly performed in all material respects all of its obligations under such arrangements to the extent that such obligations to perform have accrued, and there are no material Defaults or allegations or assertions of such by any party thereunder. No TPB Company is a party to any agreement securitizing any of its Assets.

Repurchase Agreements; Derivatives; Securitizations. With respect to all agreements currently outstanding pursuant to which any TPB PB Company has purchased securities subject to an agreement to resell, such TPB PB Company has a valid, perfected first lien or security interest in the securities or other collateral securing such agreement, and the value of such collateral equals or exceeds the amount of the debt secured thereby. With respect to all agreements currently outstanding pursuant to which any TPB PB Company has sold securities subject to an agreement to repurchase, no TPB PB Company has pledged collateral in excess of the amount of the debt secured thereby. No TPB Except as set forth on Schedule 5.27, no PB Company has pledged collateral in excess of the amount required under any interest rate swap or other similar agreement currently outstanding. All interest rate swaps, caps, floors and option agreements and other interest rate risk management arrangements, whether entered into for the account of any TPB PB Company or for the account of a customer of any TPB PB Company, were entered into in the ordinary course of business and in accordance with prudent banking practice and applicable rules, regulations and policies of any Regulatory Authority regulatory authority and with counterparties believed to be financially responsible at the time and are legal, valid and binding obligations of such TPB PB Company, enforceable according to their terms. Each TPB PB Company has duly performed in all material respects all of its obligations under such arrangements to the extent that such obligations to perform have accrued, and there are no material Defaults breaches, violations or defaults or allegations or assertions of such by any party thereunder. No TPB PB Company is a party to any agreement securitizing any of its Assetsassets.

Repurchase Agreements; Derivatives; Securitizations. With respect to all agreements currently outstanding pursuant to which any TPB PCB Company has purchased securities subject to an agreement to resell, such TPB PCB Company has a valid, perfected first lien or security interest in the securities or other collateral securing such agreement, and the value of such collateral equals or exceeds the amount of the debt secured thereby. With respect to all agreements currently outstanding pursuant to which any TPB PCB Company has sold securities subject to an agreement to repurchase, no TPB PCB Company has pledged collateral in excess of the amount of the debt secured thereby. No TPB PCB Company has pledged collateral in excess of the amount required under any interest rate swap or other similar agreement currently outstanding. All interest rate swaps, caps, floors and option agreements and other interest rate risk management arrangements, whether entered into for the account of any TPB PCB Company or for the account of a customer of any TPB PCB Company, were entered into in the ordinary course of business and in accordance with prudent banking practice and applicable rules, regulations and policies of any Regulatory Authority regulatory authority and with counterparties believed to be financially responsible at the time and are legal, valid and binding obligations of such TPB PCB Company, enforceable according to their terms. Each TPB PCB Company has duly performed in all material respects all of its obligations under such arrangements to the extent that such obligations to perform have accrued, and there are no material Defaults breaches, violations or defaults or allegations or assertions of such by any party thereunder. No TPB PCB Company is a party to any agreement securitizing any of its Assets.

Repurchase Agreements; Derivatives; Securitizations. With respect to all agreements currently outstanding pursuant to which any TPB Landmark Company has purchased securities subject to an agreement to resell, such TPB Landmark Company has a valid, perfected first lien or security interest in the securities or other collateral securing such agreement, and the value of such collateral equals or exceeds the amount of the debt secured thereby. With respect to all agreements currently outstanding pursuant to which any TPB Landmark Company has sold securities subject to an agreement to repurchase, no TPB Landmark Company has pledged collateral in excess of the amount of the debt secured thereby. No TPB Landmark Company has pledged collateral in excess of the amount required under any interest rate swap or other similar agreement currently outstanding. All interest rate swaps, caps, floors and option agreements and other interest rate risk management arrangements, whether entered into for the account of any TPB Landmark Company or for the account of a customer of any TPB Landmark Company, were entered into in the ordinary course of business and in accordance with prudent banking practice and applicable rules, regulations and policies of any Regulatory Authority and with counterparties believed to be financially responsible at the time and are legal, valid and binding obligations of such TPB Landmark Company, enforceable according to their terms. Each TPB Landmark Company has duly performed in all material respects all of its obligations under such arrangements to the extent that such obligations to perform have accrued, and there are no material Defaults breaches, violations or defaults or allegations or assertions of such by any party thereunder. No TPB Landmark Company is a party to any agreement securitizing any of its Assets.

Repurchase Agreements; Derivatives; Securitizations. With respect to all agreements currently outstanding pursuant to which any TPB RBF Company has purchased securities subject to an agreement to resell, such TPB RBF Company has a valid, perfected first lien or security interest in the securities or other collateral securing such agreement, and the value of such collateral equals or exceeds the amount of the debt secured thereby. With respect to all agreements currently outstanding pursuant to which any TPB RBF Company has sold securities subject to an agreement to repurchase, no TPB RBF Company has pledged collateral in excess of the amount of the debt secured thereby. No TPB RBF Company has pledged collateral in excess of the amount required under any interest rate swap or other similar agreement currently outstanding. All interest rate swaps, caps, floors and option agreements and other interest rate risk management arrangements, whether entered into for the account of any TPB RBF Company or for the account of a customer of any TPB RBF Company, were entered into in the ordinary course of business and in accordance with prudent banking practice and applicable rules, regulations and policies of any Regulatory Authority regulatory authority and with counterparties believed to be financially responsible at the time and are legal, valid and binding obligations of such TPB RBF Company, enforceable according to their terms. Each TPB RBF Company has duly performed in all material respects all of its obligations under such arrangements to the extent that such obligations to perform have accrued, and there are no material Defaults breaches, violations or defaults or allegations or assertions of such by any party thereunder. No TPB RBF Company is a party to any agreement securitizing any of its Assetsassets.

Repurchase Agreements; Derivatives; Securitizations. With respect to all agreements currently outstanding pursuant to which any TPB PBI Company has purchased securities subject to an agreement to resell, such TPB PBI Company has a valid, perfected first lien or security interest in the securities or other collateral securing such agreement, and the value of such collateral equals or exceeds the amount of the debt secured thereby. With respect to all agreements currently outstanding pursuant to which any TPB PBI Company has sold securities subject to an agreement to repurchase, no TPB PBI Company has pledged collateral in excess of the amount of the debt secured thereby. No TPB PBI Company has pledged collateral in excess of the amount required under any interest rate swap or other similar agreement currently outstanding. All interest rate swaps, caps, floors and option agreements and other interest rate risk management arrangements, whether entered into for the account of any TPB PBI Company or for the account of a customer of any TPB PBI Company, were entered into in the ordinary course of business and in accordance with prudent banking practice and applicable rules, regulations and policies of any Regulatory Authority regulatory authority and with counterparties believed to be financially responsible at the time and are legal, valid and binding obligations of such TPB PBI Company, enforceable according to their terms. Each TPB PBI Company has duly performed in all material respects all of its obligations under such arrangements to the extent that such obligations to perform have accrued, and there are no material Defaults breaches, violations or defaults or allegations or assertions of such by any party thereunder. No TPB PBI Company is a party to any agreement securitizing any of its Assetsassets.