Purchase Value

Purchase Value. Means the lesser of (a) (x) the Buyers' Margin Percentage for a Purchased Loan multiplied by (y) the least of: (i) the face principal amount of the related Mortgage Note; 2 (ii) the unpaid Principal Balance of such Purchased Loan; (iii) the price to be paid for such Purchased Loan under an Investor Commitment or the weighted average price under unused Investor Commitments into which such Purchased Loan is eligible for delivery; (iv) the Seller's origination or acquisition price... for such Purchased Loan; and (v) Market Value of such Purchased Loan as solely determined by the Agent. and (b) at the discretion of the Agent, ninety-five percent (95%) of the Market Value of such Purchased Loan; provided, that (1) the Purchase Value for Purchased Loans in excess of the sub limits set forth in Section 4.2 shall be zero and, (2) the Purchase Value for any Purchased Loan which is not an Eligible Loan shall be zero. View More