Common use of Restructuring of Agreement Clause in Contracts

Restructuring of Agreement. If the introduction of or any change in or in the interpretation by any Governmental Authority of any Requirement of Law or (ii) compliance by Lender with (x) any directive or request from any central bank or other Governmental Authority (whether or not having the force of law) imposed after the date hereof or (y) with the requirements of, whether such compliance is commenced prior to or after the date hereof, any of (a) Basel III or (b) the ▇▇▇▇-▇▇▇▇▇ Act, or any existing rules, regulations, guidance, interpretations or directives from the United States bank regulatory agencies relating to Basel III or the ▇▇▇▇-▇▇▇▇▇ Act, so requires and solely to the extent required, the parties hereto hereby agree that Lender shall have the right to request that this Loan Agreement be restructured and replaced with a similar facility on terms with substantially the same economic effects as those provided herein, to provide for the financing of Properties, which may be in the form of a master repurchase facility or other document structure. Upon Lender’s notification to Borrowers of its election to proceed with such restructuring and replacement, the parties agree to use commercially reasonable efforts to negotiate in good faith the terms of such replacement facility, and to cause such restructuring and replacement to take effect within forty-five (45) days of such notice, or such other reasonable time period as may be agreed upon between Lender and Borrowers provided, that Borrowers shall not be required to enter into any such repurchase facility or other document structure that would have the effect of adding material additional conditions to loan funding, or making covenants or events of default more restrictive, or increasing interest rates or other charges payable under the Loan Documents, or restricting or imposing conditions or penalties on prepayments or cancellations of commitments. In the event that Lender elects to restructure this Loan Agreement pursuant to this Section 14.20, Lender shall pay the reasonable out of pocket legal fees and expenses of Borrowers in connection with such negotiations and such restructuring.

Restructuring of Agreement. If the introduction of or any change in or in the interpretation by any Governmental Authority of any Requirement of Law or (ii) compliance by Lender with (x) any directive or request from any central bank or other Governmental Authority (whether or not having the force of law) imposed after the date hereof or (y) with the requirements of, whether such compliance is commenced prior to or after the date hereof, any of (a) Basel III or (b) the ▇▇▇▇-▇▇▇▇▇ Act, or any existing rules, regulations, guidance, interpretations or directives from the United States bank regulatory agencies relating to Basel III or the ▇▇▇▇-▇▇▇▇▇ Act, so requires and solely to the extent required, the parties hereto hereby agree that Lender shall have the right to request that this Loan Agreement may be restructured and replaced with a similar facility on terms with substantially the same economic effects as those provided herein, to provide for the financing of REO Properties, which may be in the form of a master repurchase facility or other document structure. Upon Lender’s notification to Borrowers of its election to proceed with such restructuring and replacementstructure and, the in connection therewith, parties agree to use commercially reasonable efforts to negotiate in good faith the terms of such replacement facility, and to cause such restructuring and replacement to take effect within forty-five (45) days of such notice, or such other reasonable time period as may be agreed upon between Lender and Borrowers provided, that Borrowers shall not be required to enter into any such repurchase facility or other document structure that would have the effect of adding material additional conditions to loan funding, or making covenants or events of default more restrictive, or increasing interest rates or other charges payable under the Loan Documents, or restricting or imposing conditions or penalties on prepayments or cancellations of commitmentsBorrower. In the event that Lender elects to restructure this Loan Agreement is restructured pursuant to this Section 14.2012.20, Lender shall pay the reasonable out of pocket legal fees and expenses of Borrowers Borrower in connection with such negotiations restructuring. Notwithstanding anything to the contrary set forth in this Section 12.20, Borrower shall not be obligated to enter into any amendment or replacement facility to the extent determined by the Borrower to be commercially disadvantageous or the terms and such restructuringconditions of which are more onerous than the terms and conditions set forth herein.