Take-Out Commitments Clause Samples

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. 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. To the extent that such rights are assignable, all of the Borrower's rights (but not obligations) under any agreements related to each such consumer 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, 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; provided that Mortgage Loans representing up to 10% of the Maximum Facility Amount may be Uncovered 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.

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. Each Eligible Jumbo Mortgage Loan and each Eligible Non-Conforming Mortgage Loan included in the Tranche A Borrowing Base is specifically allocated to a Take-Out Commitment.

Take-Out Commitments. To the extent that a Security is covered by a take out commitment with any third party, such take out commitment is a valid, binding and subsisting obligation enforceable in accordance with its terms.

Take-Out Commitments. Borrower shall perform and observe in all material respects each of the provisions of each Take-Out Commitment on its part to be performed or observed and cause all things to be done that are necessary to have each item of Mortgage Collateral and the Collateral Documents covered by a Take-Out Commitment to comply with its requirements.