Common use of Manner of Substitution Clause in Contracts

Manner of Substitution. Unless otherwise provided in the Pooling and Servicing Agreement, the right to substitute a Qualified Substitute Asset for any Replaced Asset that is an asset of the Trust shall be limited to (1) in the case of substitutions pursuant to Section 2.06(a) or 2.06(c), the two-year period beginning on the Closing Date and (2) in the case of any other substitution, the three-month period beginning on the Closing Date. As to any Replaced Asset for which the Company or the Seller substitutes a Qualified Substitute Asset or Assets, the Company or the Seller, as the case may be, shall effect such substitution by delivering to the Trustee for such Qualified Substitute Asset or Assets a complete Contract File or Trustee Mortgage Loan File, as appropriate, together with an Officer's Certificate of the Company or the Seller, as the case may be, to the effect that each such Qualified Substitute Asset complies with the terms of the Pooling and Servicing Agreement. Monthly Payments due with respect to Qualified Substitute Assets in the month of substitution are not part of the Trust and will be retained by the Company or the Seller, as the case may be. For the month of substitution, distributions to Certificateholders will reflect the Monthly Payment due on such Replaced Asset during the month in which the substitution occurs, and the Company or the Seller, as the case may be, shall thereafter be entitled to retain all amounts subsequently received in respect of such Replaced Asset. The Servicer shall amend the Asset Schedule to reflect the removal of such Replaced Asset from the terms of the Pooling and Servicing Agreement and the substitution of the Qualified Substitute Asset or Assets. Upon such substitution, such Qualified Substitute Asset or Assets shall be subject to the terms of the Pooling and Servicing Agreement in all respects, including, in the case of a substitution effected by the Seller, the representations and warranties included in the related Sales Agreement, and in the case of a substitution effected by the Company, the representations and warranties set forth in Section 2.05 above, in each case as of the date of substitution. The Trustee shall, within five Business Days of its receipt of the documents referred to above, effect the reconveyance of such Replaced Asset to the Company or the Seller, as the case may be, in accordance with the procedures specified above. For any month in which the Company or the Seller substitutes one or more Qualified Substitute Assets for one or more Replaced Assets, the Servicer will determine and notify the Trustee with respect to the amount (if any) by which the aggregate Unpaid Principal Balance of all such Qualified Substitute Assets as of the date of substitution is less than the aggregate Unpaid Principal Balance of all such Replaced Assets (after application of Monthly Payments due in the month of substitution) (the "Substitution Shortfall"). On the date of such substitution, the Company or the Seller, as the case may be, will deliver or cause to be delivered to the Trustee for deposit from its own funds into the Distribution Account an amount equal to the Substitution Shortfall.

Manner of Substitution. Unless otherwise provided in the Pooling and Servicing Agreement, the right to substitute a Qualified Substitute Asset for any Replaced Asset that is an asset of the Trust shall be limited to (1) in the case of substitutions pursuant to Section 2.06(a2.05(a) or 2.06(c2.05(c), the two-year period beginning on the Closing Date and (2) in the case of any other substitution, the three-month period beginning on the Closing Date. As to any Replaced Asset for which the Company Depositor or the Seller substitutes a Qualified Substitute Asset or Assets, the Company Depositor or the Seller, as the case may be, shall effect such substitution by delivering to the Trustee for such Qualified Substitute Asset or Assets a complete Contract File or Trustee Mortgage Loan File, as appropriate, together with an Officer's Certificate of the Company Depositor or the Seller, as the case may be, to the effect that each such Qualified Substitute Asset complies with the terms of the Pooling and Servicing Agreement. Monthly Payments due with respect to Qualified Substitute Assets in the month of substitution are not part of the Trust and will be retained by the Company Depositor or the Seller, as the case may be. For the month of substitution, distributions to Certificateholders will reflect the Monthly Payment due on such Replaced Asset during the month in which the substitution occurs, and the Company Depositor or the Seller, as the case may be, shall thereafter be entitled to retain all amounts subsequently received in respect of such Replaced Asset. The Master Servicer shall amend the Asset Schedule to reflect the removal of such Replaced Asset from the terms of the Pooling and Servicing Agreement and the substitution of the Qualified Substitute Asset or Assets. Upon such substitution, such Qualified Substitute Asset or Assets shall be subject to the terms of the Pooling and Servicing Agreement in all respects, including, in the case of a substitution effected by the Seller, the representations and warranties included in the related Sales Agreement, and in the case of a substitution effected by the CompanyDepositor, the representations and warranties set forth in Section 2.05 2.04 above, in each case as of the date of substitution. The Trustee shall, within five Business Days of its receipt of the documents referred to above, effect the reconveyance of such Replaced Asset to the Company Depositor or the Seller, as the case may be, in accordance with the procedures specified above. For any month in which the Company Depositor or the Seller substitutes one or more Qualified Substitute Assets for one or more Replaced Assets, the Master Servicer will determine and notify the Trustee with respect to the amount (if any) by which the aggregate Unpaid Principal Balance of all such Qualified Substitute Assets as of the date of substitution is less than the aggregate Unpaid Principal Balance of all such Replaced Assets (after application of Monthly Payments due in the month of substitution) (the "Substitution Shortfall"). On the date of such substitution, the Company Depositor or the Seller, as the case may be, will deliver or cause to be delivered to the Trustee for deposit from its own funds into the Distribution Account an amount equal to the Substitution Shortfall.

Manner of Substitution. Unless otherwise provided in the Pooling and Servicing Agreement, the right to substitute a Qualified Substitute Asset for any Replaced Asset that is an asset of the Trust shall be limited to (1) in the case of substitutions pursuant to Section 2.06(a) or 2.06(c), the two-year period beginning on the Closing Date and (2) in the case of any other substitution, the three-month period beginning on the Closing Date. As to any Replaced Asset for which the Company OMI or the Seller substitutes a Qualified Substitute Asset or Assets, the Company OMI or the Seller, as the case may be, shall effect such substitution by delivering to the Trustee for such Qualified Substitute Asset or Assets a complete Contract File or Trustee Mortgage Loan File, as appropriate, together with an Officer's Certificate of the Company OMI or the Seller, as the case may be, to the effect that each such Qualified Substitute Asset complies with the terms of the Pooling and Servicing Agreement. Monthly Payments due with respect to Qualified Substitute Assets in the month of substitution are not part of the Trust and will be retained by the Company OMI or the Seller, as the case may be. For the month of substitution, distributions to Certificateholders will reflect the Monthly Payment due on such Replaced Asset during the month in which the substitution occurs, and the Company OMI or the Seller, as the case may be, shall thereafter be entitled to retain all amounts subsequently received in respect of such Replaced Asset. The Servicer shall amend the Asset Schedule to reflect the removal of such Replaced Asset from the terms of the Pooling and Servicing Agreement and the substitution of the Qualified Substitute Asset or Assets. Upon such substitution, such Qualified Substitute Asset or Assets shall be subject to the terms of the Pooling and Servicing Agreement in all respects, including, in the case of a substitution effected by the Seller, the representations and warranties included in the related Sales Agreement, and in the case of a substitution effected by the CompanyOMI, the representations and warranties set forth in Section 2.05 above, in each case as of the date of substitution. The Trustee shall, within five Business Days of its receipt of the documents referred to above, effect the reconveyance of such Replaced Asset to the Company OMI or the Seller, as the case may be, in accordance with the procedures specified above. For any month in which the Company OMI or the Seller substitutes one or more Qualified Substitute Assets for one or more Replaced Assets, the Servicer will determine and notify the Trustee with respect to the amount (if any) by which the aggregate Unpaid Principal Balance of all such Qualified Substitute Assets as of the date of substitution is less than the aggregate Unpaid Principal Balance of all such Replaced Assets (after application of Monthly Payments due in the month of substitution) (the "Substitution Shortfall"). On the date of such substitution, the Company OMI or the Seller, as the case may be, will deliver or cause to be delivered to the Trustee for deposit from its own funds into the Distribution Account an amount equal to the Substitution Shortfall.

Manner of Substitution. Unless otherwise provided in the Pooling and Servicing Agreement, the right to substitute a Qualified Substitute Asset for any Replaced Asset that is an asset of the Trust shall be limited to (1) in the case of substitutions pursuant to Section 2.06(a2.05(a) or 2.06(c2.05(c), the two-year period beginning on the Closing Date and (2) in the case of any other substitution, the three-month period beginning on the Closing Date. As to any Replaced Asset for which the Company Depositor or the Seller substitutes a Qualified Substitute Asset or Assets, the Company Depositor or the Seller, as the case may be, shall effect such substitution by delivering to the Trustee for such Qualified Substitute Asset or Assets a complete Contract File or Trustee Mortgage Loan File, as appropriate, together with an Officer's ’s Certificate of the Company Depositor or the Seller, as the case may be, to the effect that each such Qualified Substitute Asset complies with the terms of the Pooling and Servicing Agreement. Monthly Payments due with respect to Qualified Substitute Assets in the month of substitution are not part of the Trust and will be retained by the Company Depositor or the Seller, as the case may be. For the month of substitution, distributions to Certificateholders will reflect the Monthly Payment due on such Replaced Asset during the month in which the substitution occurs, and the Company Depositor or the Seller, as the case may be, shall thereafter be entitled to retain all amounts subsequently received in respect of such Replaced Asset. The Master Servicer shall amend the Asset Schedule to reflect the removal of such Replaced Asset from the terms of the Pooling and Servicing Agreement and the substitution of the Qualified Substitute Asset or Assets. Upon such substitution, such Qualified Substitute Asset or Assets shall be subject to the terms of the Pooling and Servicing Agreement in all respects, including, in the case of a substitution effected by the Seller, the representations and warranties included in the related Sales Agreement, and in the case of a substitution effected by the CompanyDepositor, the representations and warranties set forth in Section 2.05 2.04 above, in each case as of the date of substitution. The Trustee shall, within five Business Days of its receipt of the documents referred to above, effect the reconveyance of such Replaced Asset to the Company Depositor or the Seller, as the case may be, in accordance with the procedures specified above. For any month in which the Company Depositor or the Seller substitutes one or more Qualified Substitute Assets for one or more Replaced Assets, the Master Servicer will determine and notify the Trustee with respect to the amount (if any) by which the aggregate Unpaid Principal Balance of all such Qualified Substitute Assets as of the date of substitution is less than the aggregate Unpaid Principal Balance of all such Replaced Assets (after application of Monthly Payments due in the month of substitution) (the "“Substitution Shortfall"”). On the date of such substitution, the Company Depositor or the Seller, as the case may be, will deliver or cause to be delivered to the Trustee for deposit from its own funds into the Distribution Account an amount equal to the Substitution Shortfall.

Manner of Substitution. Unless otherwise provided in the Pooling and ---------------------- Servicing Agreement, the right to substitute a Qualified Substitute Asset for any Replaced Asset that is an asset of the Trust shall be limited to (1) in the case of substitutions pursuant to Section 2.06(a) or 2.06(c), the two-year period beginning on the Closing Date and (2) in the case of any other substitution, the three-month period beginning on the Closing Date. As to any Replaced Asset for which the Company OMI or the Seller substitutes a Qualified Substitute Asset or Assets, the Company OMI or the Seller, as the case may be, shall effect such substitution by delivering to the Trustee for such Qualified Substitute Asset or Assets a complete Contract File or Trustee Mortgage Loan File, as appropriate, together with an Officer's Certificate of the Company OMI or the Seller, as the case may be, to the effect that each such Qualified Substitute Asset complies with the terms of the Pooling and Servicing Agreement. Monthly Payments due with respect to Qualified Substitute Assets in the month of substitution are not part of the Trust and will be retained by the Company OMI or the Seller, as the case may be. For the month of substitution, distributions to Certificateholders will reflect the Monthly Payment due on such Replaced Asset during the month in which the substitution occurs, and the Company OMI or the Seller, as the case may be, shall thereafter be entitled to retain all amounts subsequently received in respect of such Replaced Asset. The Servicer shall amend the Asset Schedule to reflect the removal of such Replaced Asset from the terms of the Pooling and Servicing Agreement and the substitution of the Qualified Substitute Asset or Assets. Upon such substitution, such Qualified Substitute Asset or Assets shall be subject to the terms of the Pooling and Servicing Agreement in all respects, including, in the case of a substitution effected by the Seller, the representations and warranties included in the related Sales Agreement, and in the case of a substitution effected by the CompanyOMI, the representations and warranties set forth in Section 2.05 above, in each case as of the date of substitution. The Trustee shall, within five Business Days of its receipt of the documents referred to above, effect the reconveyance of such Replaced Asset to the Company OMI or the Seller, as the case may be, in accordance with the procedures specified above. For any month in which the Company OMI or the Seller substitutes one or more Qualified Substitute Assets for one or more Replaced Assets, the Servicer will determine and notify the Trustee with respect to the amount (if any) by which the aggregate Unpaid Principal Balance of all such Qualified Substitute Assets as of the date of substitution is less than the aggregate Unpaid Principal Balance of all such Replaced Assets (after application of Monthly Payments due in the month of substitution) (the "Substitution Shortfall"). On the date of such substitution, the Company OMI or the Seller, as the case may be, will deliver or cause to be delivered to the Trustee for deposit from its own funds into the Distribution Account an amount equal to the Substitution Shortfall.

Manner of Substitution. Unless otherwise provided in the Pooling and Servicing Agreement, the right to substitute a Qualified Substitute Asset for any Replaced Asset that is an asset of the Trust shall be limited to (1) in the case of substitutions pursuant to Section 2.06(a) or 2.06(c), the two-year period beginning on the Closing Date and (2) in the case of any other substitution, the three-month period beginning on the Closing Date. As to any Replaced Asset for which the Company or the Seller substitutes a Qualified Substitute Asset or Assets, the Company or the Seller, as the case may be, shall effect such substitution by delivering to the Trustee for such Qualified Substitute Asset or Assets a complete Contract File or Trustee Mortgage Loan File, as appropriate, together with an Officer's Certificate of the Company or the Seller, as the case may be, to the effect that each such Qualified Substitute Asset complies with the terms of the Pooling and Servicing Agreement. Monthly Payments due with respect to Qualified Substitute Assets in the month of substitution are not part of the Trust and will be retained by the Company or the Seller, as the case may be. For the month of substitution, distributions to Certificateholders will reflect the Monthly Payment due on such Replaced Asset during the month in which the substitution occurs, and the Company or the Seller, as the case may be, shall thereafter be entitled to retain all amounts subsequently received in respect of such Replaced Asset. The Servicer shall amend the Asset Schedule to reflect the removal of such Replaced Asset from the terms of the Pooling and Servicing Agreement and the substitution of the Qualified Substitute Asset or Assets. Upon such substitution, such Qualified Substitute Asset or Assets shall be subject to the terms of the Pooling and Servicing Agreement in all respects, including, in the case of a substitution effected by the Seller, the representations and warranties included in the related Sales Agreement, and in the case of a substitution effected by the Company, the representations and warranties set forth in Section 2.05 above, in each case as of the date of substitution. The Trustee shall, within five Business Days of its receipt of the documents referred to above, effect the reconveyance of such Replaced Asset to the Company or the Seller, as the case may be, in accordance with the procedures specified above. For any month in which the Company or the Seller substitutes one or more Qualified Substitute Assets for one or more Replaced Assets, the Servicer will determine and notify the Trustee with respect to the amount (if any) by which the aggregate Unpaid Principal Balance of all such Qualified Substitute Assets as of the date of substitution is less than the aggregate Unpaid Principal Balance of all such Replaced Assets (after application of Monthly Payments due in the month of substitution) (the "Substitution Shortfall"). On the date of such substitution, the Company or the Seller, as the case may be, will deliver or cause to be delivered to the Trustee for deposit from its own funds into the Distribution Account an amount equal to the Substitution Shortfall.case

Manner of Substitution. Unless otherwise provided in the Pooling and Servicing Agreement, the right to substitute a Qualified Substitute Asset for any Replaced Asset that is an asset of the Trust shall be limited to (1) in the case of substitutions pursuant to Section 2.06(a) or 2.06(c), the two-year period beginning on the Closing Date and (2) in the case of any other substitution, the three-month period beginning on the Closing Date. As to any Replaced Asset for which the Company or the Seller substitutes a Qualified Substitute Asset or Assets, the Company or the Seller, as the case may be, shall effect such substitution by notifying the Trustee and delivering to the Trustee for such Qualified Substitute Asset or Assets a complete Contract File or Trustee Mortgage Loan File, as appropriate, together with an Officer's Certificate of the Company or the Seller, as the case may be, to the effect that each such Qualified Substitute Asset complies with the terms of the Pooling and Servicing Agreement. Monthly Payments due with respect to Qualified Substitute Assets in the month of substitution are not part of the Trust and will be retained by the Company or the Seller, as the case may be. For the month of substitution, distributions to Certificateholders will reflect the Monthly Payment due on such Replaced Asset during the month in which the substitution occurs, and the Company or the Seller, as the case may be, shall thereafter be entitled to retain all amounts subsequently received in respect of such Replaced Asset. The Servicer shall amend the Asset Schedule to reflect the removal of such Replaced Asset from the terms of the Pooling and Servicing Agreement and the substitution of the Qualified Substitute Asset or Assets. Upon such substitution, such Qualified Substitute Asset or Assets shall be subject to the terms of the Pooling and Servicing Agreement in all respects, including, in the case of a substitution effected by the Seller, the representations and warranties included in the related Sales Agreement, and in the case of a substitution effected by the Company, the representations and warranties set forth in Section 2.05 above, in each case as of the date of substitution. The Trustee shall, within five Business Days of its receipt of the documents referred to above, effect the reconveyance of such Replaced Asset to the Company or the Seller, as the case may be, in accordance with the procedures specified above. For any month in which the Company or the Seller substitutes one or more Qualified Substitute Assets for one or more Replaced Assets, the Servicer will determine and notify the Trustee with respect to the amount (if any) by which the aggregate Unpaid Principal Balance of all such Qualified Substitute Assets as of the date of substitution is less than the aggregate Unpaid Principal Balance of all such Replaced Assets (after application of Monthly Payments due in the month of substitution) (the "Substitution Shortfall"). On the date of such substitution, the Company or the Seller, as the case may be, will deliver or cause to be delivered to the Trustee for deposit from its own funds into the Distribution Account an amount equal to the Substitution Shortfall.