Common use of Transaction Request Procedure (Transactions other than Wet Clause in Contracts

Transaction Request Procedure (Transactions other than Wet. Ink Transactions). (a) The Seller may request a Transaction hereunder that is not a Wet-Ink Transaction, on any Business Day during the period from and including the Effective Date to and including the Termination Date by delivering to the Agent, with a copy to the Custodian, a Transaction Request, which Transaction Request must be received by the Agent prior to 11:00 a.m., New York City time, on the requested Purchase Date; provided that, the Agent shall use reasonable efforts to accommodate requests received after 11:00 a.m. but prior to 2:30 p.m., New York City time, on the requested Purchase Date. Such Transaction Request shall (i) attach a schedule identifying the Eligible Mortgage Loans that the Seller proposes to sell to the Buyer hereunder in connection with such Transaction, (ii) specify the requested Purchase Price and Purchase Date, (iii) include (unless the same has been submitted previously) a Mortgage Loan Data File containing information with respect to the Eligible Mortgage Loans that the Seller proposes to sell to the Buyer hereunder in connection with such Transaction, and (iv) such other information reasonably requested by the Buyer from time to time. (b) Upon receipt from the Seller of a Transaction Request pursuant to Section 2.02(a), the Buyer shall, upon satisfaction of all applicable conditions precedent set forth in Sections 5.01 and 5.02 hereof and provided that no Default or Event of Default shall have occurred and be continuing, enter into such Transaction with the Seller. In the event that the Buyer (or the Agent on behalf of the Buyer) determines to enter into a Transaction, the Buyer (or the Agent) shall specify the terms for such proposed Transaction, including the Purchase Price for the applicable Eligible Mortgage Loans, the Pricing Rate for the Transaction, the Market Value for the applicable Eligible Mortgage Loans, the Repurchase Date in respect of such Transaction and any additional terms or conditions of the Transaction, in a Confirmation to be delivered to the Seller on or prior to the applicable Purchase Date. (c) The Seller shall deliver to the Custodian, in accordance with the terms and conditions of the Custodial Agreement, the Mortgage File pertaining to each Eligible Mortgage Loan to be sold to the Buyer hereunder on the requested Purchase Date. (d) Pursuant to the Custodial Agreement, the Custodian shall deliver to the Agent and the Seller, no later than 11:00 a.m., New York City time, on the initial Purchase Date, a Master Trust Receipt in respect of all Mortgage Loans to be purchased by the Buyer on such Purchase Date, and a Mortgage Loan Schedule and Exception Report and, no later than 11:00 a.m., New York City time, on each subsequent Purchase Date, an updated Mortgage Loan Schedule and Exception Report; provided that, if, pursuant to Section 2.02(a) of this Repurchase Agreement, the Buyer has accepted a Transaction Request after 11:00 a.m. on any Purchase Date, such Master Trust Receipt and Mortgage Loan Schedule and Exception Report must be delivered not later than 2:30 p.m. on such Purchase Date. The Seller acknowledges that Mortgage Loans listed in any Exception Report are not Eligible Mortgage Loans and the Buyer is not obligated to enter into any Transaction with respect to any Mortgage Loan listed in any Exception Report. (e) Subject to Section 5 hereof and provided that no Default or Event of Default shall have occurred and be continuing, such Transaction will then be entered into by the Buyer, transferring, via wire transfer, to the account specified by Seller on a Transaction Request, an amount equal to the aggregate Purchase Price for such Transaction in funds immediately available to the Seller.

Transaction Request Procedure (Transactions other than Wet. Ink Transactions). (a) The Seller may request a Transaction hereunder that is not a Wet-Ink Transaction, on any Business Day during the period from and including the Effective Date to and including the Termination Date by delivering to the Agent, with a copy to the Custodian, a Transaction Request, which Transaction Request must be received by the Agent prior to 11:00 a.m., New York City time, on the requested Purchase Date; provided that, the Agent shall use reasonable efforts to accommodate requests received after 11:00 a.m. a.m but prior to 2:30 p.m., New York City time, on the requested Purchase Date. Such Transaction Request shall (i) attach a schedule identifying the Eligible Mortgage Loans that the Seller proposes to sell to the Buyer hereunder in connection with such Transaction, (ii) specify the requested Purchase Price and Purchase Date, (iii) include (unless the same has been submitted previously) a Mortgage Loan Data File containing information with respect to the Eligible Mortgage Loans that the Seller proposes to sell to the Buyer hereunder in connection with such Transaction, and (iv) such other information reasonably requested by the Buyer from time to time. (b) Upon receipt from the Seller of a Transaction Request pursuant to Section 2.02(a), the Buyer shall, upon satisfaction of all applicable conditions precedent set forth in Sections 5.01 and 5.02 hereof and provided that no Default or Event of Default shall have occurred and be continuing, enter into such Transaction with the Seller. In the event that the Buyer (or the Agent on behalf of the Buyer) determines to enter into a Transaction, the Buyer (or the Agent) shall specify the terms for such proposed Transaction, including the Purchase Price for the applicable Eligible Mortgage Loans, the Pricing Rate for the Transaction, the Market Value for the applicable Eligible Mortgage Loans, the Repurchase Date in respect of such Transaction and any additional terms or conditions of the Transaction, in a Confirmation to be delivered to the Seller on or prior to the applicable Purchase Date. (c) The Seller shall deliver to the Custodian, in accordance with the terms and conditions of the Custodial Agreement, the Mortgage File pertaining to each Eligible Mortgage Loan to be sold to the Buyer hereunder on the requested Purchase Date. (d) Pursuant to the Custodial Agreement, the Custodian shall deliver to the Agent and the Seller, no later than 11:00 a.m., New York City time, on the initial Purchase Date, a Master Trust Receipt in respect of all Mortgage Loans to be purchased by the Buyer on such Purchase Date, and a Mortgage Loan Schedule and Exception Report and, no later than 11:00 a.m., New York City time, on each subsequent Purchase Date, an updated Mortgage Loan Schedule and Exception Report; provided that, if, pursuant to Section 2.02(a) of this Repurchase Agreement, the Buyer has accepted a Transaction Request after 11:00 a.m. on any Purchase Date, such Master Trust Receipt and Mortgage Loan Schedule and Exception Report must be delivered not later than 2:30 p.m. on such Purchase Date. The Seller acknowledges that Mortgage Loans listed in any Exception Report are not Eligible Mortgage Loans and the Buyer is not obligated to enter into any Transaction with respect to any Mortgage Loan listed in any Exception Report. (e) Subject to Section 5 hereof and provided that no Default or Event of Default shall have occurred and be continuing, such Transaction will then be entered into by the Buyer, transferring, via wire transfer, to the account specified by Seller on a Transaction Request, an amount equal to the aggregate Purchase Price for such Transaction in funds immediately available to the Seller.

Transaction Request Procedure (Transactions other than Wet. Ink Transactions). (a) The Seller may request a Transaction hereunder that is not a Wet-Ink Transaction, on any Business Day during the period from and including the Effective Date to and including the Termination Date by delivering to the Agent, with a copy to the Custodian, a Transaction Request, which Transaction Request must be received by the Agent prior to 11:00 a.m., New York City time, on the requested Purchase Date; provided that, the Agent shall use reasonable efforts to accommodate requests received after 11:00 a.m. but one (1) Business Day prior to 2:30 p.m., New York City time, on the requested Purchase Date. Such Transaction Request shall (i) attach a schedule identifying the Eligible Mortgage Loans that the Seller proposes to sell to the Buyer hereunder in connection with such Transaction, (ii) specify the requested Purchase Price and Purchase Date, (iii) include (unless the same has been submitted previously) a Mortgage Loan Data File containing information with respect to the Eligible Mortgage Loans that the Seller proposes to sell to the Buyer hereunder in connection with such Transaction, and (iv) such other information reasonably requested by the Buyer from time to time. (b) Upon receipt from the Seller of a Transaction Request pursuant to Section 2.02(a), the Buyer shall, with respect to the Committed Amount, and may, with respect to the Uncommitted Amount, upon satisfaction of all applicable conditions precedent set forth in Sections 5.01 and 5.02 hereof and provided that no Default or Event of Default shall have occurred and be continuing, enter into such Transaction with the Seller. In the event that the Buyer (or the Agent on behalf of the Buyer) determines to enter enters into a Transaction, the Buyer (or the Agent) shall specify the terms for such proposed TransactionTransaction in accordance with the Agreement, including the Purchase Price for the applicable Eligible Mortgage Loans, the Pricing Rate for the Transaction, the Market Value for the applicable Eligible Mortgage Loans, the Repurchase Date in respect of such Transaction and any additional terms or conditions of the Transaction, in a Confirmation to be delivered to the Seller on or prior to the applicable Purchase Date. The Buyer shall have no obligation to enter into any Transactions with respect to the Uncommitted Amount, which Transactions shall be entered into in the sole discretion of the Buyer. (c) The Seller shall deliver to the Custodian, in accordance with the terms and conditions of the Custodial Agreement, the Mortgage File pertaining to each Eligible Mortgage Loan to be sold to the Buyer hereunder on the requested Purchase Date. (d) Pursuant to the Custodial Agreement, the Custodian shall deliver to the Agent and the Seller, no later than 11:00 a.m., New York City time, on the initial Purchase Date, a Master Trust Receipt in respect of all Mortgage Loans to be purchased by the Buyer on such Purchase Date, and a Mortgage Loan Schedule and Exception Report and, no later than 11:00 a.m., New York City time, on each subsequent Purchase Date, an updated Mortgage Loan Schedule and Exception Report; provided that, if, pursuant to Section 2.02(a) of this Repurchase Agreement, the Buyer has accepted a Transaction Request after 11:00 a.m. on any Purchase Date, such Master Trust Receipt and Mortgage Loan Schedule and Exception Report must be delivered not later than 2:30 p.m. on such Purchase Date. The Seller acknowledges that Mortgage Loans listed in any Exception Report are not Eligible Mortgage Loans and the Buyer is not obligated to enter into any Transaction with respect to any Mortgage Loan listed in any Exception Report. (e) Subject to Section 5 hereof and provided that no Default or Event of Default shall have occurred and be continuing, such Transaction will then be entered into by the Buyer, transferring, via wire transfer, to the account specified by Seller on a Transaction Request, an amount equal to the aggregate Purchase Price for such Transaction in funds immediately available to the Seller.