Common use of Shipping Purchased Loans Clause in Contracts

Shipping Purchased Loans. If no Default or Event of Default exists, the Seller may direct the Buyer to ship any of the Purchased Loans (a) that the Seller intends to sell as whole loans to an Approved Investor for reasonably equivalent value in a bona fide transaction (including sales of Purchased Loans under a repurchase agreement for financing purposes) or (b) to a custodian or trustee for an Approved Investor for pooling and securitization as MBS and sale of such securities to an underwriter or other third party, by delivering a Shipping Request substantially in the form of Exhibit I to the Buyer with all blanks completed to identify (i) the Purchased Loans to be so shipped and sold, (ii) the name, address, and contact information (including contact name, phone number and fax number) of the custodian/trustee of the Approved Investor and/or of the Approved Investor, (iii) the name, if any, with which the Buyer is to complete the Mortgage Notes’ endorsement in blank before shipping them, (iv) the courier to use and the Seller’s account number to be charged and (v) the scheduled closing date and for securitizations, the date when the Seller expects the proceeds of the sale of the MBS created will be wired to the Buyer. If such closing date is subsequently changed, the Seller will give the Buyer prompt notice thereof. While a Default or Event of Default exists, Buyer may, without liability to Seller, continue to deliver Purchased Loans to Approved Investors or any other party acceptable to Buyer in its sole discretion.

Shipping Purchased Loans. If no Default or Event of Default exists, the The Seller may direct the Buyer Custodian to ship any of the Purchased Loans (a) that the Seller intends to sell as whole loans to an Approved Investor for reasonably equivalent value in a bona fide transaction (including sales of Purchased Loans under a repurchase agreement for financing purposes) or (b) to a custodian or trustee for an Approved Investor for pooling and securitization as MBS and sale of such securities to an underwriter or other third party, by delivering a Shipping Request substantially in the form of Exhibit I to the Buyer Custodian with all blanks completed to identify (i) the Purchased Loans to be so shipped and sold, (ii) the name, address, and contact information (including contact name, phone number and fax number) of the custodian/trustee of the Approved Investor and/or of the Approved Investor, (iii) the name, if any, with which the Buyer Custodian is to complete the Mortgage Notes’ endorsement in blank before shipping them, (iv) the courier to use and the Seller’s account number to be charged and (v) the scheduled closing date and for securitizations, the date when the Seller expects the proceeds of the sale of the MBS created will be wired to the BuyerAgent. If such closing date is subsequently changed, the Seller will give the Buyer Custodian prompt notice thereof. While a Default or Event of Default exists, Buyer may, without liability to Seller, continue to deliver Purchased Loans to Approved Investors or any other party acceptable to Buyer in its sole discretion.

Shipping Purchased Loans. If no Default or Event of Default exists, the The Seller may direct the Buyer Custodian to ship any of the Purchased Loans (ai) that the Seller intends to sell as whole loans to an Approved Investor for reasonably equivalent value in a bona fide transaction (including sales of Purchased Loans under a repurchase agreement for financing purposes) or (bii) to a custodian or trustee for an Approved Investor for pooling and securitization as MBS and sale of such securities to an underwriter or other third party, by delivering a Shipping Request substantially in the form of Exhibit I to the Buyer Custodian with all blanks completed to identify (ia) the Purchased Loans to be so shipped and sold, (iib) the name, address, and contact information (including contact name, phone number and fax number) of the custodian/trustee of the Approved Investor and/or of the Approved Investor, (iiic) the name, if any, with which the Buyer Custodian is to complete the Mortgage Notes’ endorsement in blank before shipping them, (ivd) the courier to use and the Seller’s account number to be charged and (ve) the scheduled closing date and for securitizations, the date when the Seller expects the proceeds of the sale of the MBS created will be wired to the BuyerAdministrative Agent. If such closing date is subsequently changed, the Seller will give the Buyer Custodian prompt notice thereof. While a Default or Event of Default exists, Buyer may, without liability to Seller, continue to deliver Purchased Loans to Approved Investors or any other party acceptable to Buyer in its sole discretion.

Shipping Purchased Loans. If no Default or Event of Default exists, the The Seller may direct the Buyer Custodian to ship any of the Purchased Loans (ai) that the Seller intends to sell as whole loans to an Approved Investor for reasonably equivalent value in a bona fide transaction (including sales of Purchased Loans under a repurchase agreement for financing purposes) or (bii) to a custodian or trustee for an Approved Investor for pooling and securitization as MBS and sale of such securities to an underwriter or other third party, by delivering a Shipping Request substantially in the form of Exhibit I to the Buyer Custodian with all blanks completed to identify (ia) the Purchased Loans to be so shipped and sold, (iib) the name, address, and contact information (including contact name, phone number and fax number) of the custodian/trustee of the Approved Investor and/or of the Approved Investor, (iiic) the name, if any, with which the Buyer Custodian is to complete the Mortgage Notes’ endorsement in blank before shipping them, (ivd) the courier to use and the Seller’s account number to be charged and (ve) the scheduled closing date and for securitizations, the date when the Seller expects the proceeds of the sale of the MBS created will be wired to the BuyerAdministrative Agent. If such closing date is subsequently changed, the Seller will give the Buyer Custodian prompt notice thereof. While a Default or Event of Default exists, Buyer may, without liability to Seller, continue to deliver Purchased Loans to Approved Investors or any other party acceptable to Buyer in its sole discretion.10 4.3. Repurchases 10