Common use of CONVEYANCE OF THE GROUP 2 SUBSEQUENT MORTGAGE LOANS Clause in Contracts

CONVEYANCE OF THE GROUP 2 SUBSEQUENT MORTGAGE LOANS. (a) Subject to the conditions set forth in paragraph (b) below and in consideration of the Indenture Trustee's delivery on the applicable Subsequent Transfer Dates, to or upon the written order of the Depositor, of all or a portion of the balance of funds in the Group 2 Pre-Funding Account, the Depositor shall on any Group 2 Subsequent Transfer Date sell, transfer, assign, set over and convey without recourse to the Trust Estate, but subject to the other terms and provisions of this Agreement, all of the right, title and interest of the Depositor in and to (i) the related Group 2 Subsequent Mortgage Loans identified on the Mortgage Loan Schedule attached to the related Group 2 Subsequent Transfer Instrument delivered by the Depositor on such Group 2 Subsequent Transfer Date, (ii) all interest accruing thereon on and after the Subsequent Cut-off Date (with respect to the Group 2 Subsequent Mortgage Loans) and all collections in respect of interest and principal due after the Subsequent Cut-off Date and (iii) all items with respect to such Group 2 Subsequent Mortgage Loans to be delivered pursuant to Section 2.03 and the other items in the related Mortgage Files; provided, however, that the Depositor reserves and retains all right, title and interest in and to principal received and interest accruing on the Group 2 Subsequent Mortgage Loans prior to the related Subsequent Cut-off Date. The transfer to the Indenture Trustee for deposit in the Trust Estate by the Depositor of the Group 2 Subsequent Mortgage Loans identified on the Mortgage Loan Schedule shall be absolute and is intended by the Depositor, the Master Servicer, the Indenture Trustee and the Bondholders to constitute and to be treated as a sale of the Group 2 Subsequent Mortgage Loans by the Depositor to the Trust Estate. The related Mortgage File for each Group 2 Subsequent Mortgage Loan shall be delivered to the Indenture Trustee at least three (3) Business Days prior to the related Subsequent Transfer Date. The purchase price paid by the Indenture Trustee from amounts released from the Group 2 Pre-Funding Account shall be one-hundred percent (100%) of the aggregate Stated Principal Balance of the Group 2 Subsequent Mortgage Loans so transferred (as identified on the Mortgage Loan Schedule provided by the Depositor).

CONVEYANCE OF THE GROUP 2 SUBSEQUENT MORTGAGE LOANS. (a) Subject to the conditions set forth in paragraph (b) below and in consideration of the Indenture Trustee's delivery on the applicable Subsequent Transfer Dates, to or upon the written order of the Depositor, of all or a portion of the balance of funds in the Group 2 Pre-Funding Account, the Depositor shall on any Group 2 Subsequent Transfer Date sell, transfer, assign, set over and convey without recourse to the Trust Estate, but subject to the other terms and provisions of this Agreement, all of the right, title and interest of the Depositor in and to (i) the related Group 2 Subsequent Mortgage Loans identified on the Mortgage Loan Schedule attached to the related Group 2 Subsequent Transfer Instrument delivered by the Depositor on such Group 2 Subsequent Transfer Date, (ii) all interest accruing thereon on and after the Subsequent Cut-off Date (with respect to the Group 2 Subsequent Mortgage Loans) and all collections in respect of interest and principal due after the Subsequent Cut-off Date and (iii) all items with respect to such Group 2 Subsequent Mortgage Loans to be delivered pursuant to Section 2.03 and the other items in the related Mortgage Files; providedPROVIDED, howeverHOWEVER, that the Depositor reserves and retains all right, title and interest in and to principal received and interest accruing on the Group 2 Subsequent Mortgage Loans prior to the related Subsequent Cut-off Date. The transfer to the Indenture Trustee for deposit in the Trust Estate by the Depositor of the Group 2 Subsequent Mortgage Loans identified on the Mortgage Loan Schedule shall be absolute and is intended by the Depositor, the Master Servicer, the Indenture Trustee and the Bondholders to constitute and to be treated as a sale of the Group 2 Subsequent Mortgage Loans by the Depositor to the Trust Estate. The related Mortgage File for each Group 2 Subsequent Mortgage Loan shall be delivered to the Indenture Trustee at least three (3) Business Days prior to the related Subsequent Transfer Date. The purchase price paid by the Indenture Trustee from amounts released from the Group 2 Pre-Funding Account shall be one-hundred percent (100%) of the aggregate Stated Principal Balance of the Group 2 Subsequent Mortgage Loans so transferred (as identified on the Mortgage Loan Schedule provided by the Depositor).