CONDITIONS PRECEDENT; INITIATION. CONFIRMATION; TERMINATION; MAXIMUM TRANSACTION AMOUNTS; FEES (a) Conditions Precedent to Initial Transaction. Buyer's obligation to enter into the initial Transaction hereunder is subject to the satisfaction, immediately prior to or concurrently with the making of such Transaction, of the condition precedent that Buyer shall have received the Commitment Fee from Sellers and any other fees and expenses payable hereunder, and all of the following documents with respect to each Loan type that is eligible for purchase, each of which shall be satisfactory to Buyer and its counsel in form and substance (together with the Confirmation, collectively, the "Facility Documents"):
Appears in 2 contracts
Sources: Master Repurchase Agreement (Bingham Financial Services Corp), Master Repurchase Agreement (Bingham Financial Services Corp)