Depositor's Option to Purchase Breached Mortgage Loans. (a) Subject to the terms specified in this Agreement, the Depositor has the option, but is not obligated, to purchase from the Trust Fund any Breached Mortgage Loan at the Repurchase Price; provided that the entity from which the Seller purchased the Mortgage Loan has both (a) agreed to purchase the Mortgage Loan from the Depositor and (b) has represented to the Seller that it has the ability to purchase such Mortgage Loan from the Depositor, as soon as is practicable thereafter at the Repurchase Price.
Appears in 23 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-15ar), Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-7ax), Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-14ar)
Depositor's Option to Purchase Breached Mortgage Loans. (a) Subject to the terms specified in this Agreement, the Depositor has the option, but is not obligated, to purchase from the Trust Fund any Breached Mortgage Loan at the Repurchase Price; provided that the entity from which the Seller purchased the Mortgage Loan has both (a) agreed to purchase the Mortgage Loan from the Depositor and (b) has represented to the Seller that it has the ability to purchase such Mortgage Loan from the Depositor, as soon as is practicable thereafter at the Repurchase Price.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2007-6xs)
