Repurchase of Certain Mortgage Loans. In the event that (i) the first Due Date for a Mortgage Loan is subsequent to the Cut-off Date and the initial Monthly Payment is not made within 30 days of such Due Date, (ii) a Monthly Payment due prior to the related Cut-off Date is not made within 30 days of the related Due Date or (iii) the principal balance due on a Mortgage Loan is paid in full within six months following the related Closing Date, then, in each such case, the Seller shall repurchase the affected Mortgage Loans at the Repurchase Price, which shall be paid as provided for in Subsection 7.03.
Repurchase of Certain Mortgage Loans. SECTION 8. Closing
Repurchase of Certain Mortgage Loans. (a) The Seller represents and warrants to the Purchaser as of the Transfer Date with respect to each Mortgage Loan sold to the Purchaser (except as otherwise expressly stated) that, as to each Mortgage Loan or its related Asset Balance: [insert representations and warranties] The representations and warranties set forth in this Section 4 shall survive the sale of the Mortgage Loans to the Purchaser and the transfer of the Mortgage Loans by the Purchaser to the Trust and the delivery of the Mortgage Files to the Trustee. Upon discovery by the Seller or the Purchaser of a breach of any of the representations and warranties set forth in this Section 4, the party discovering such breach shall give prompt written notice thereof to the other party. Within 60 days of its discovery or its receipt of notice of breach, the Seller shall use all reasonable efforts to cure such breach in all material respects or shall, not later than the Business Day immediately preceding the Distribution Date in the month following the Collection Period in which any such cure period expired, repurchase such Mortgage Loan from the Purchaser in the same manner and subject to the same conditions as set forth in Section 5, other than with respect to breaches solely related to the representations and warranties set forth in clause (i) or (ii) of this Section 4. Upon making such repurchase and sending any required payment to the Purchaser, the Seller shall be entitled to receive an instrument of assignment or transfer, without recourse, representation or warranty, from the Purchaser to the same extent as set forth in Section 5 with respect to the repurchase of the Mortgage Loans under that Section. It is understood and agreed that the obligation of the Seller to repurchase a Mortgage Loan as to which a breach has occurred and is continuing and to make any required payment to the Purchaser shall constitute the sole remedy respecting such breach available to the Purchaser against the Seller; provided, however, that the Seller shall defend and indemnify the Purchaser against all costs, expenses, losses, damages, claims and liabilities, including reasonable fees and expenses of counsel, which may be asserted against or incurred by the Purchaser as a result of any breach of any such representation or warranty. Notwithstanding the foregoing, with regard to any breach of the representation and warranty set forth in clause (iv) of this Section 4, the sale and assignment of the affected Mortgage Loa...
Repurchase of Certain Mortgage Loans. 72 SECTION 3.12. TRUSTEE TO COOPERATE; RELEASE OF MORTGAGE FILES..........................................75 SECTION 3.13. DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR THE TRUSTEE.76 SECTION 3.14.
Repurchase of Certain Mortgage Loans. Premium Recapture.. 37 Section 3.05 Review of Mortgage Loans................................. 37
Repurchase of Certain Mortgage Loans. 31 SECTION 8. Closing; Conditions Precedent.....................................31 SECTION 9.
Repurchase of Certain Mortgage Loans. 77 SECTION 3.12. TRUSTEE TO COOPERATE; RELEASE OF MORTGAGE FILES............................80 SECTION 3.13. DOCUMENTS, RECORDS AND FUNDS IN POSSESSION OF MASTER SERVICER TO BE HELD FOR THE TRUSTEE............................................................81 SECTION 3.14. SERVICING COMPENSATION.....................................................81 SECTION 3.15.
Repurchase of Certain Mortgage Loans. In the event that the first or second contractually due Monthly Payment on any Mortgage Loan is not made within 45 days of the related Due Date for such Monthly Payment, then, the Seller shall, within three (3) Business Days, repurchase such Mortgage Loan at the Repurchase Price, which shall be accomplished (i) during the Interim Servicing Period by deposit in the Custodial Account of the amount of the Repurchase Price and (ii) following the Interim Servicing Period, by wire transfer of immediately available funds on the repurchase date to an account designated by the Purchaser. In the event that the Seller fails to repurchase any Mortgage Loan pursuant to this Section 7.04, in addition to any other remedies available to the Purchaser hereunder, the Purchaser shall have the right to offset amounts owed with respect thereto from future purchases of Mortgage Loans from the Seller and may apply such amount directly against any Holdback with respect to any Mortgage Loan.
Repurchase of Certain Mortgage Loans. In the event that (i) the first Due Date for a Mortgage Loan is subsequent to the Cut-off Date and the initial Monthly Payment is not made within 30 days of such Due Date or (ii) a Monthly Payment due prior to the related Cut-off Date is not made within 30 days of the related Due Date, then, in each such case, the Seller will repurchase the affected Mortgage Loans at the Repurchase Price, which shall be paid as provided for in Subsection 7.03. In the event that the principal balance due on a Mortgage Loan is paid in full within ninety (90) days following the related Closing Date, the Seller will pay to Purchaser within ten business days of Purchaser notifying Seller of such prepayment an amount equal to the product of (A) the amount of such prepayment, times (B) the excess, if any, of the purchase price percentage, as set forth in the related Commitment Letter, over 100%, less any Prepayment Charges permitted to be collected by the Purchaser.
Repurchase of Certain Mortgage Loans. In the event that (i) the first Due Date for a Mortgage Loan is subsequent to the Cut-off Date and the initial Monthly Payment is not made within 30 days of such Due Date, (ii) a Monthly Payment due prior to the related Cut-off Date is not made within 30 days of the related Due Date or (iii) the principal balance due on a Mortgage Loan is paid in full within three months following the related Closing Date, then, in each such case, the Seller shall repurchase the affected Mortgage Loans at the Repurchase Price, which shall be paid as provided for in Subsection 7.03. Notwithstanding the foregoing, the Seller's obligation to repurchase such Mortgage Loan shall be conditioned upon the Purchaser providing written notice to the Seller within 180 days of Purchaser's receipt of notice of such default or prepayment
