Common use of Conveyance of the Subsequent Contracts Clause in Contracts

Conveyance of the Subsequent Contracts. a. Subject to the conditions set forth in paragraph (b) below, in consideration of the Trustee's delivery on the related Subsequent Transfer Dates to or upon the order of the Company of all or a portion of the balance of funds in the Sub-Pool HE Pre-Funding ARM Subaccount, Sub-Pool HE Pre-Funding Fixed Rate Subaccount and Sub-Pool HI Pre-Funding Account, the Company shall on any Subsequent Transfer Date sell, transfer, assign, set over and convey to the Trust by execution and delivery of a Subsequent Transfer Instrument, all the right, title and interest of the Company in and to the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts identified on the List of Contracts attached to the Subsequent Transfer Instrument, including all rights to receive payments on or with respect to the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts due after the related Subsequent Cut-off Date, and all items with respect to such Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts in the related Contract Files. The transfer to the Trustee by the Company of the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts shall be absolute and is intended by the Company, the Trustee, the Certificateholders and the Class C Certificateholders to constitute and to be treated as a sale of the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts by the Company to the Trust.

Conveyance of the Subsequent Contracts. a. Subject to the conditions set forth in paragraph (b) below, in consideration of the Trustee's delivery on the related Subsequent Transfer Dates to or upon the order of the Company of all or a portion of the balance of funds in the Sub-Pool HE Pre-Funding ARM Subaccount, Sub-Pool HE Pre-Funding Fixed Rate Subaccount Account and the Sub-Pool HI Pre-Funding Account, the Company shall on any Subsequent Transfer Date sell, transfer, assign, set over and convey to the Trust by execution and delivery of a Subsequent Transfer Instrument, all the right, title and interest of the Company in and to the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts identified on the List of Contracts attached to the Subsequent Transfer Instrument, including all rights to receive payments on or with respect to the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts due after the related Subsequent Cut-Cut- off Date, and all items with respect to such Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts in the related Contract Files. The transfer to the Trustee by the Company of the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts shall be absolute and is intended by the Company, the Trustee, the Certificateholders and the Class C Certificateholders to constitute and to be treated as a sale of the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts by the Company to the Trust. The purchase price paid by the Trustee shall be one hundred percent (100%) of the aggregate Cut-off Date Principal Balances of such Subsequent Contracts. The purchase price of Subsequent Group I Contracts shall be paid solely with amounts in the Pre-Funding Group I Subaccount. The purchase price of Subsequent Group II Contracts shall be paid solely with amounts in the Pre-Funding Group II Subaccount. The purchase price of Subsequent Adjustable Rate Home Equity Contracts shall be paid solely with amounts in the Pre-Funding ARM Subaccount. The purchase price of Subsequent Home Improvement Contracts shall be paid solely with amounts in the Pre-Funding HI Subaccount. This Agreement shall constitute a fixed price contract in accordance with Section 860G(a)(3)(A)(ii) of the Code.

Conveyance of the Subsequent Contracts. a. Subject to the conditions set forth in paragraph (b) below, in consideration of the Trustee's delivery on the related Subsequent Transfer Dates to or upon the order of the Company of all or a portion of the balance of funds in the Sub-Pool HE Pre-Funding ARM Subaccount, Sub-Pool HE Pre-Funding Fixed Rate Subaccount and Sub-Pool HI Pre-Funding AccountSubaccount, the Company shall on any Subsequent Transfer Date sell, transfer, assign, set over and convey to the Trust by execution and delivery of a Subsequent Transfer Instrument, all the right, title and interest of the Company in and to the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts identified on the List of Contracts attached to the Subsequent Transfer Instrument, including all rights to receive payments on or with respect to the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts due after the related Subsequent Cut-off Date, and all items with respect to such Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts in the related Contract Files. The transfer to the Trustee by the Company of the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts shall be absolute and is intended by the Company, the Trustee, the Certificateholders and the Class C Certificateholders to constitute and to be treated as a sale of the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts by the Company to the Trust.

Conveyance of the Subsequent Contracts. a. (a) Subject to the conditions set forth in paragraph (b) below, in consideration of the Trustee's delivery on the related Subsequent Transfer Dates to or upon the order of the Company of all or a portion of the balance of funds in the Sub-Pool HE Pre-Funding ARM Subaccount, Sub-Pool HE Pre-Funding Fixed Rate Subaccount and Sub-Pool HI Pre-Funding Account, the Company shall on any Subsequent Transfer Date sell, transfer, assign, set over and convey to the Trust by execution and delivery of a Subsequent Transfer Instrument, all the right, title and interest of the Company in and to the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts identified on the List of Contracts attached to the Subsequent Transfer Instrument, including all rights to receive payments on or with respect to the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts due after the related Subsequent Cut-off Date, and all items with respect to such Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts in the related Contract Files. The transfer to the Trustee by the Company of the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts shall be absolute and is intended by the Company, the Trustee, the Certificateholders and the Class C Certificateholders to constitute and to be treated as a sale of the Subsequent Home Equity Contracts and/or Subsequent Home Improvement Contracts by the Company to the Trust.. The purchase price paid by the Trustee shall be one-hundred percent (100%)