Primary Portfolio definition

Primary Portfolio means the residential mortgage loans identified and listed on a schedule to a Confirmation.

Primary Portfolio. As set forth in Schedule I hereto. Transaction Settlement Date: , 20 . Transaction Base Servicing Fee Rate: [ ] basis points (per annum) Transaction Remittance Date: [ ]th day of each month Transaction Purchase Price Percentage: % Transaction Excess Spread Percentage: % Transaction Threshold Percentage: [ %]

Primary Portfolio. As set forth in Schedule I hereto. Transaction Settlement Date: ___________, 20____. Transaction Base Servicing Fee Rate (for Primary Portfolio): [____] basis points (per annum) Transaction Base Servicing Fee Rate (for Secondary Portfolio): [____] basis points (per annum) Transaction Remittance Date: The 10th day of each calendar month, or if such day is not a Business Day, the prior Business Day Transaction Purchase Price Percentage: _______% Transaction Excess Spread Percentage (for Primary Portfolio): _______% Transaction Excess Spread Percentage (for Secondary Portfolio): _______% Transaction Threshold Percentage: [___%]

Examples of Primary Portfolio in a sentence

• The portion of the Base Servicing Fee relating to a Secondary Portfolio Mortgage Loan shall begin to accrue as of the commencement of the Collection Period in which the related Assignment Date occurs but in no event shall such portion accrue on any day on which the portion of the Base Servicing Fee relating to the Primary Portfolio Mortgage Loan in respect of which such Secondary Portfolio Mortgage Loan became a Secondary Portfolio Mortgage Loan also accrues.

• On the Transaction Settlement Date for each Primary Portfolio, the Purchaser shall pay the Transaction Purchase Price to the Seller, the Seller shall convey the Primary Portfolio Excess Spread to the Purchaser and the Seller shall commence servicing or subservicing the Primary Portfolio Mortgage Loans in accordance with the applicable Servicing Agreements and Guides if such servicing or subservicing has not already commenced.

• The Seller shall not pledge, obtain financing for or otherwise permit any Lien of any creditor of the Seller to exist on, any portion of the Primary Portfolio Collections or the Seller’s interest in the Primary Portfolio Spread Custodial Account without the prior written consent of the Purchaser.

• The Seller and the Purchaser intend that each Transaction constitute a valid sale of the Primary Portfolio Excess Spread for the related Primary Portfolio by the Seller to the Purchaser, free and clear of any Lien.

• In connection with the Primary Portfolio Mortgage Loans and Secondary Portfolio Mortgage Loans related to each Transaction, the Seller shall not, without the express written consent of Purchaser (which consent may be withheld in its absolute discretion), (a) terminate or amend any Servicing Rights, or (b) enter into any termination, modification, waiver or amendment of any applicable Servicing Agreement or its rights and duties under any applicable Guide.

More Definitions of Primary Portfolio

Primary Portfolio. As set forth in Schedule I hereto. Transaction Settlement Date: , 20 . Transaction Base Servicing Fee Rate (for Primary Portfolio): [ ] basis points (per annum) Transaction Base Servicing Fee Rate (for Secondary Portfolio): [ ] basis points (per annum) Transaction Remittance Date: The 10th day of each calendar month, or if such day is not a Business Day, the prior Business Day Transaction Purchase Price Percentage: % Transaction Excess Spread Percentage (for Primary Portfolio): % Transaction Excess Spread Percentage (for Secondary Portfolio): % Transaction Threshold Percentage: [ %]

Primary Portfolio means the Mooresville Property and the North Raleigh Property.

Primary Portfolio. As set forth in Schedule I hereto. Transaction Settlement Date: ___________, 20____. Transaction Base Servicing Fee Rate: [____] basis points (per annum) Transaction Remittance Date: [__]th day of each month Transaction Purchase Price Percentage: _______% Transaction Excess Spread Percentage: _______% Cut-off Date ___________, 20____. Other: In the event Seller, whether voluntarily or involuntarily, transfers the Servicing Rights related to the Mortgage Loans in any Primary Portfolio or Secondary Portfolio and receives any termination fee or other compensation or proceeds in connection with such transfer (the “Transfer Proceeds”), Seller shall remit to Purchaser an amount equal to the product of (a) such Transfer Proceeds, multiplied by (b) a fraction, the numerator of which is the Transaction Purchase Price allocable to the Primary Portfolio Excess Spread relating to such Servicing Rights and the denominator of which is the actual purchase price paid by the Seller for such Servicing Rights. Accepted and confirmed as of the date first written above: SELLER: PENNYMAC CORP. By: Name: Title: PURCHASER: PENNYMAC HOLDINGS, LLC By: Name: Title: EXHIBIT B PennyMac Corp. (the “Transferor”), hereby assigns, conveys and otherwise transfers to PennyMac Holdings, LLC (the “Transferee”) all of the Transferor’s right, title and interest in, to and under the Primary Portfolio Excess Spread for the residential mortgage loans set forth in Annex A attached hereto. Capitalized terms used and not defined in this instrument have the meanings assigned to them in the Master Spread Acquisition and MSR Servicing Agreement dated as of [ ], 2015, between PennyMac Corp. and PennyMac Holdings, LLC, as supplemented and amended by the Confirmation dated _____, between such parties. If the conveyance of such Primary Portfolio Excess Spread is characterized by a court or governmental authority as security for a loan rather than an absolute transfer or sale, the Transferor will be deemed to have granted to the Transferee, and the Transferor hereby grants to the Transferee, a security interest in all of its right, title and interest in, to and under such Primary Portfolio Excess Spread and all proceeds thereof as security for a loan in an amount equal to the value of such Primary Excess Spread. (Transferor) By: Name: Title: EXHIBIT C

Primary Portfolio means University of Brighton Student Accommodation, X-00 Xxxx, X-0 Xxxxxxxx, X-00 Managed Lanes, X-00 Xxxx, XXXX Automated Fare Collection System, Ruta del Cacao, Hurontario Light Rail, Melbourne Metro, East Rockingham Waste, Sunraysia Solar Farm, Pacifico 2, and any other assets or projects held or owned by the Group at Completion.

Primary Portfolio. As set forth in Schedule I hereto. Transaction Settlement Date: ___________, 20____. Transaction Base Servicing Fee Rate: [____] basis points (per annum) Transaction Remittance Date: [__]th day of each month Transaction Purchase Price Percentage: _______% Transaction Excess Spread Percentage: _______% Cut-off Date ___________, 20____.

Primary Portfolio. As set forth in Schedule I hereto. Transaction Settlement Date: ___________, 20____. Transaction Base Servicing Fee Rate: [____] basis points (per annum) Transaction Remittance Date: [__]th day of each month Transaction Purchase Price Percentage: _______% Transaction Excess Spread Percentage: _______% Transaction Threshold Percentage: [___%] Allowed Retention Percentage: As set forth opposite the applicable Excess Refinancing Percentage in the following table: Cut-off Date ___________, 20____. Other: In the event Seller, whether voluntarily or involuntarily, transfers the Servicing Rights related to the Mortgage Loans in any Primary Portfolio or Secondary Portfolio and receives any termination fee or other compensation or proceeds in connection with such transfer (the “Transfer Proceeds”), Seller shall remit to Purchaser an amount equal to the product of (a) such Transfer Proceeds, multiplied by (b) a fraction, the numerator of which is the Transaction Purchase Price allocable to the Primary Portfolio Excess Spread relating to such Servicing Rights and the denominator of which is the actual purchase price paid by the Seller for such Servicing Rights.

Primary Portfolio. As set forth in Schedule I hereto.