Early Payment Default. In the event that the first scheduled payment to be made by the mortgagor on the first due date after the Closing Date, with respect to any Mortgage Loan is not paid within thirty (30) days following such due date, the Seller shall repurchase such Mortgage Loan within five (5) business days of the Purchaser’s request at a price equal to the Repurchase Price for such Mortgage Loan. The provisions set forth in this paragraph shall survive the Closing Date and shall not merge with the closing documents, but instead shall be independently enforceable by the Purchaser.
Appears in 4 contracts
Samples: Assignment, Assumption and Recognition Agreement (GSR 2006-5f), Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2006-8f), Assignment, Assumption and Recognition Agreement (GSR Mortgage Loan Trust 2006-8f)
