Transaction Sublimits. The following sublimits shall also be applicable to the Transactions hereunder such that after giving effect to any proposed Transaction and after giving effect to any repurchase, addition or substitution of any Mortgage Loan hereunder, the following shall be true: (a) The Aggregate Outstanding Purchase Price of Conforming Mortgage Loans may be as much as one hundred percent (100%) of the Maximum Aggregate Commitment. (b) The Aggregate Outstanding Purchase Price of all Purchased Loans that are Wet Loans shall not exceed (x) fifty percent (50%) of the Maximum Aggregate Commitment on any of the first five and last five Business Days of any month or (y) thirty-five percent (35%) of the Maximum Aggregate Commitment on any other day (the “Wet Loans Sublimit”). (c) The Aggregate Outstanding Purchase Price of all Purchased Loans that are of the type listed in the first column of the following table shall not exceed the percentage of the Maximum Aggregate Commitment listed in the second column of the table (the name of that Sublimit is set forth in the third column). Agency-eligible Forty Year Loans 5 % “Agency-eligible Forty Year Loans Sublimit” Jumbo Mortgage Loans 10 % “Jumbo Loans Sublimit” (d) The Agent may agree to any change in the aggregate not involving more than One Million Dollars ($1,000,000) of the Purchased Loans in the handling of the Purchased Loans, as set forth in Section 22.5. 2.15. Section 5.1 of the Repurchase Agreement is amended by adding the following proviso at the end thereof: ; provided that, notwithstanding the foregoing, the Pricing Rate will not in any event be less than 4.50%.
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Transaction Sublimits. The following sublimits shall also be applicable to the Transactions hereunder such that after giving effect to any proposed Transaction and after giving effect to any repurchase, addition or substitution of any Mortgage Loan hereunder, the following shall be true:
(a) The Aggregate Outstanding Purchase Price of Conforming Mortgage Loans may be as much as one hundred percent (100%) of the Maximum Aggregate Commitment.
(b) The Aggregate Outstanding Purchase Price of all Purchased Loans that are Wet Loans shall not exceed (x) fifty sixty percent (5060%) of the Maximum Aggregate Commitment on any of the first five and last five Business Days of any month or (y) thirty-five percent (35%) of the Maximum Aggregate Commitment on any other day (the “Wet Loans Sublimit”).
(c) The Aggregate Outstanding Purchase Price of all Purchased Loans that are of the type listed in the first column of the following table shall not exceed the percentage of the Maximum Aggregate Commitment listed in the second column of the table (the name of that Sublimit is set forth in the third column)table. Agency-eligible Forty Year Loans 5 % “Agency-eligible Forty Year Loans Sublimit” Jumbo Mortgage Loans 10 10% “Jumbo High LTV Mortgage Loans Sublimit”10% USBHM Mortgage Loans 100%
(d) The Agent may agree to any change in the aggregate not involving more than One Million Five Hundred Thousand Dollars ($1,000,0001,500,000) of the Purchased Loans in the handling of the Purchased Loans, as set forth in Section 22.5.
2.15. Section 5.1 of the Repurchase Agreement is amended by adding the following proviso at the end thereof: ; provided that, notwithstanding the foregoing, the Pricing Rate will not in any event be less than 4.50%.
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