Common use of Ineligible Collateral Clause in Contracts

Ineligible Collateral. Collateral shipped under CLAUSE (A) above, unless returned to Administrative Agent, ceases to be an Eligible-Mortgage Loan (i) to the extent that Collateral Documents for Mortgage Loans with more than a total face amount of $2,500,000 are held by or for any Tier 2 Approved Investor (OTHER THAN FNMA, FHLMC, and GNMA, or any other investor that Administrative Agent has approved in writing), and (ii) upon the earlier of EITHER the release of the Lender Liens in that Collateral under CAUSE (C) below, OR the expiration of the Shipping Period for that Collateral.

Ineligible Collateral. Collateral shipped under CLAUSE (A) above, unless returned to Administrative Agent, ceases to be an Eligible-Mortgage Loan Collateral (i) to the extent that Collateral Documents for Mortgage Loans with more than a total face amount of $2,500,000 5,000,000 are held by or for any Tier 2 Approved Investor (OTHER THAN other than FNMA, FHLMC, and GNMA, or any other investor that Administrative Agent has approved in writing), ) and (ii) upon the earlier of EITHER either the release of the Lender Liens in that Collateral under CAUSE CLAUSE (C) below, OR below or the expiration of the Shipping Period for that Collateral.

Ineligible Collateral. Collateral shipped under CLAUSE (A) above, --------------------- unless returned to Administrative Agent, ceases to be an Eligible-Mortgage Loan Collateral (i) to the extent that Collateral Documents for Mortgage Loans with more than a total face amount of $2,500,000 are held by or for any Tier 2 Approved Investor (OTHER THAN other than FNMA, FHLMC, and GNMA, GNMA or any other investor that Administrative Agent has approved in writing), and (ii) upon the earlier of EITHER either the release of the Lender Liens in that Collateral under CAUSE CLAUSE (C) below, OR below or the expiration of the Shipping Period for that Collateral.