The terms set forth in this Letter Agreement shall apply to all sales and deliveries of mortgage loans and pools of mortgage loans from PHH to Fannie Mae pursuant to the Early Funding Agreements that are made on or after June 14, 2016 (the “ Effective Date ”) and on or before December 13, 2016 (the “ Scheduled Termination Date ”), subject to the early termination of this Letter Agreement as provided herein (such period commencing on the Effective Date and ending on the Scheduled Termination Date, subject to the early termination of this Letter Agreement as provided herein, is referred to herein as the “ Term ”).