Early Payoff Reporting Sample Clauses

Early Payoff Reporting. With respect to a Mortgage Loan that pays off in full prior to the end of the first three (3) monthly payment cycles following the Sale Date (an “EPO”), the Purchaser shall invoice the Seller and the Seller shall, within seven (7) Business Days of receipt of demand by the Purchaser, reimburse the Purchaser the applicable Purchase Price paid by the Purchaser, together with any unreimbursed Advances and any additional interest payable to the applicable Investor and not paid by the applicable Mortgagor for each EPO. Notwithstanding the foregoing, a Mortgage Loan refinanced by Purchaser or any affiliate of Purchaser within the first three (3) monthly payment cycles following the Sale Date shall not be deemed an EPO.