Take-Out Commitments. The Borrower shall cause the Originators to obtain, and maintain in full force and effect, Take-Out Commitments (either in the form of a Loan Specific Take-Out Commitment or a Hedge) reflecting total Approved Investor obligations, as of each date of determination, with an aggregate purchase price at least equal to the total of the original principal balances of the Borrower’s entire portfolio of Mortgage Loans, except with respect to Uncovered Loans permitted hereunder. The Borrower shall ensure that each of such Take-Out Commitments (i) shall reflect only those terms and conditions as are permitted hereunder or are acceptable to the Administrative Agent and the Managing Agents and (ii) in the case of Subprime Loans, shall be issued by an Approved Investor specifically designated on Schedule II hereto as an Approved Investor for Subprime Loans.
Take-Out Commitments. The Seller shall use its best efforts to obtain, and maintain in full force and effect, Take-Out Commitments reflecting total Approved Investor obligations, as of each determination, equal to the total of the original principal balances of the Seller's entire portfolio of Mortgage Loans. Each of such Take-Out Commitments shall reflect only those terms and conditions as are permitted hereunder or are acceptable to the Administrative Agent. The Seller shall use its best efforts to obtain, and maintain in full force and effect, forward purchase commitments (which may include options to sell Mortgage Loans to Approved Investors, so long as the Approved Investor is bound thereby) issued by Approved Investors and obligating such Approved Investors to purchase a portion of the Seller's subsequently acquired Mortgage Loans.
Take-Out Commitments. The Borrower shall use its best efforts to cause the Originator to obtain, and maintain in full force and effect, Take-Out Commitments reflecting total Approved Investor obligations, as of each date of determination, with an aggregate purchase price equal to the total of the original principal balances of the Borrower's entire portfolio of Mortgage Loans issued as proceeds thereof. Each of such Take-Out Commitments shall reflect only those terms and conditions as are permitted hereunder or are acceptable to the Administrative Agent and the Managing Agents. The Borrower shall use its best efforts to cause the Originator to obtain, and maintain in full force and effect, forward purchase commitments (which may include options to sell Mortgage Loans to Approved Investors, so long as the Approved Investor is bound thereby) issued by Approved Investors and obligating such Approved Investors to purchase a portion of the Borrower's subsequently acquired Mortgage Loans.
Take-Out Commitments. To the extent that such rights are assignable, all --------------------- of Borrower's rights (but not obligations) under any agreements related to each such loan under which any party agrees to purchase such loan or any underwriting agreements related to such loan and all rights to deliver such loan to investors and purchasers pursuant thereto and all proceeds resulting therefrom;
Take-Out Commitments. The Borrower shall obtain, and maintain in full force and effect, Take-Out Commitments reflecting total Approved Investor obligations, as of each date of determination, with an aggregate purchase price equal to the total of the original principal balances of the Borrower's entire portfolio of Mortgage Loans issued as proceeds thereof. Each of such Take-Out Commitments shall reflect only those terms and conditions as are permitted hereunder or are acceptable to the Administrative Agent. The Borrower shall obtain, and maintain in full force and effect, forward purchase commitments (which may include options to sell Mortgage Loans to Approved Investors, so long as the Approved Investor is bound thereby) issued by Approved Investors and obligating such Approved Investors to purchase a portion of the Borrower's subsequently acquired Mortgage Loans.
Take-Out Commitments. At any time and from time to time, -------------------- provided that no Default or Event of Default exists or would result therefrom, and subject to the terms of the Custody Agreement, Borrower may obtain the release of the security interest in favor of BOIA in any Take-Out Commitment or specific commitment under a master Take-Out Commitment in connection with the refinancing of specific Mortgage Loans upon written request to the Agent setting forth the Mortgage Loans to be refinanced and the Take-Out Commitment(s) to be released, demonstrating compliance with Section 6.20 and certifying that no ------------ Default or Event of Default exists or would result from the requested release. In connection with any such release, BOIA shall, at Borrower's request and expense, execute such form UCC- 190
Take-Out Commitments. To the extent that an Eligible Bond or Underlying Eligible Bond is covered by a Take-Out Commitment, such Take-Out Commitment is a valid, binding and subsisting obligation enforceable in accordance with its terms.
Take-Out Commitments. Borrower represents and warrants to -------------------- Bank that all Mortgage Loans submitted to Bank as Collateral are and shall be covered by Take-Out Commitments and Borrower has sufficient Take-Out Commitments to cover each and every Mortgage Loan serving as Collateral hereunder.
Take-Out Commitments. The Borrower shall enter into and -------------------- maintain Agency Commitments and Take-Out Commitments sufficient at all times to cover each Mortgage Loan constituting Mortgage Collateral hereunder. Upon the request of the Bank, Borrower will provide evidence satisfactory to the Bank that (i) Borrower is in compliance with the requirements of each Take-Out Commitment and will adhere to the procedures provided in such Take-Out Commitment;
(ii) Borrower will give notice of Bank's security interest in each Mortgage Loan to the Investor under the Take-Out Commitment therefor and that such notice will be given in compliance with the requirements hereof and of such Take-Out Commitment; (iii) each Mortgage Loan can and will be assigned to the purchaser under the Take-Out Commitment therefor; and (iv) the Bank, in the event of such assignment, will receive the full purchase price for the Mortgage Loans.
Take-Out Commitments. The Borrower shall cause the Originators to obtain, and maintain in full force and effect, Take-Out Commitments (either in the form of loan-specific Take-Out Commitments or forward purchase Take-Out Commitments used to hedge capital and Mortgage Loans) reflecting total Approved Investor obligations, as of each date of determination, with an aggregate purchase price at least equal to the total of the original principal balances of the Borrower’s entire portfolio of Mortgage Loans. Each of such Take-Out Commitments shall reflect only those terms and conditions as are permitted hereunder or are acceptable to the Administrative Agent and the Managing Agents.
