Common use of Option to Purchase Defaulted Mortgage Loans Clause in Contracts

Option to Purchase Defaulted Mortgage Loans. The Depositor shall have the option, but is not obligated, to purchase from the Trust any Mortgage Loan that is ninety (90) days or more delinquent. The purchase price therefor shall be 100% of the unpaid principal balance of such Mortgage Loan, plus all related accrued and unpaid interest, and the amount of any unreimbursed Servicing Advances made by the Servicers or the Master Servicer related to the Mortgage Loan.

Appears in 28 contracts

Samples: Trust Agreement (GSAA Home Equity Trust 2006-6), Trust Agreement (GSAA Home Equity Trust 2007-4), Master Servicing and Trust Agreement (GSAA Home Equity Trust 2007-7)

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Option to Purchase Defaulted Mortgage Loans. The Depositor shall have the option, but is not obligated, to purchase from the Trust any Mortgage Loan that is ninety (90) 90 days or more delinquent. The purchase price therefor shall be 100% of the unpaid principal balance of such Mortgage Loan, plus all related accrued and unpaid interest, and the amount of any unreimbursed Servicing Advances made by the Servicers or the Master Servicer related to the Mortgage Loan.

Appears in 10 contracts

Samples: Master Servicing and Trust Agreement (Gsaa Home Equity Trust 2004-8), Master Servicing and Trust Agreement (GSAA Home Equity Trust 2005-6), Master Servicing and Trust Agreement (GSAA Home Equity Trust 2005-9)

Option to Purchase Defaulted Mortgage Loans. The Depositor shall have the option, but is not obligated, to purchase from the Trust any Mortgage Loan that is ninety (90) 90 days or more delinquent. The purchase price therefor shall be 100% of the unpaid principal balance of such Mortgage Loan, plus all related accrued and unpaid interest, and the amount of any unreimbursed Servicing Advances made by the Servicers or the Master Servicer related to the Mortgage Loan.

Appears in 4 contracts

Samples: Trust Agreement (GSAA Home Equity Trust 2005-3), Trust Agreement (GSAA Home Equity Trust 2005-3), Trust Agreement (GS Mortgage Securities Corp., Asset-Backed Certificates, Series 2005-5)

Option to Purchase Defaulted Mortgage Loans. The Depositor shall have the option, but is not obligated, to purchase from the Trust any Mortgage Loan that is ninety (90) 90 days or more delinquent. The purchase price therefor therefor, which shall be deposited in the Distribution Account, shall be 100% of the unpaid principal balance of such Mortgage Loan, plus all related accrued and unpaid interest, and the amount of any unreimbursed Servicing Advances made by the Servicers or the Master applicable Servicer related to the applicable Mortgage Loan.

Appears in 3 contracts

Samples: Trust Agreement (BCAP LLC Trust 2007-Aa4), Trust Agreement (BCAP LLC Trust 2007-Aa2), Trust Agreement (BCAP LLC Trust 2007-Aa1)

Option to Purchase Defaulted Mortgage Loans. The Depositor shall have the option, but is not obligated, to purchase from the Trust any Mortgage Loan that is ninety (90) 90 days or more delinquent. The purchase price therefor therefor, which shall be deposited in the Distribution Account, shall be 100% of the unpaid principal balance of such Mortgage Loan, plus all related accrued and unpaid interest, and the amount of any unreimbursed Servicing Advances made by the Servicers or the Master Servicer related to the applicable Mortgage Loan.

Appears in 2 contracts

Samples: Trust Agreement (BCAPB LLC Trust 2007-Ab1), Pooling and Servicing Agreement (BCAP LLC Trust 2007-Aa5)

Option to Purchase Defaulted Mortgage Loans. The Depositor shall have the option, but is not obligated, to purchase from the Trust any Mortgage Loan that is ninety (90) 90 days or more delinquent. The purchase price therefor therefore shall be 100% of the unpaid principal balance of such Mortgage Loan, plus all related accrued and unpaid interest, and the amount of any unreimbursed Servicing Advances made by the Servicers Servicer or the Master Servicer Trustee related to the Mortgage Loan.

Appears in 2 contracts

Samples: Trust Agreement (Gsaa Home Equity Trust 2004-6), Trust Agreement (Gsaa Home Equity Trust 2004-6)

Option to Purchase Defaulted Mortgage Loans. The Depositor shall have the option, but is not obligated, to purchase from the Trust any Mortgage Loan that is ninety (90) 90 days or more delinquent. The purchase price therefor therefor, which shall be deposited in the Distribution Account, shall be 100% of the unpaid principal balance of such Mortgage Loan, plus all related accrued and unpaid interest, and the amount of any unreimbursed Servicing Advances made by the Servicers or the Master Servicer related to the Mortgage Loan.

Appears in 2 contracts

Samples: Trust Agreement (GSAA Home Equity 2005-12), Master Servicing and Trust Agreement (GSAA Home Equity Trust 2005-7)

Option to Purchase Defaulted Mortgage Loans. The Depositor shall have the option, but is not obligated, to purchase from the Trust any Mortgage Loan that is ninety (90) days or more delinquent. The purchase price therefor shall be 100% of the unpaid principal balance of such Mortgage Loan, plus all related accrued and unpaid interest, and the amount of any unreimbursed Servicing Advances made by the Servicers Servicer or the Master Servicer Trustee related to the Mortgage Loan.

Appears in 2 contracts

Samples: Trust Agreement (GSAA Home Equity Trust 2006-13), Trust Agreement (New Century Alternative Mortgage Loan Trust 2006-Alt2)

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Option to Purchase Defaulted Mortgage Loans. The Depositor shall have the option, but is not obligated, to purchase from the Trust any Mortgage Loan that is ninety (90) 90 days or more delinquent. The purchase price therefor therefor, which shall be deposited in the Distribution Account, shall be 100% of the unpaid principal balance of such Mortgage Loan, plus all related accrued and unpaid interest, and the amount of any unreimbursed Servicing Advances made by the Servicers or the Master Servicer related to the Mortgage Loan.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (BCAP LLC Trust 2006-Aa2)

Option to Purchase Defaulted Mortgage Loans. The Depositor shall have the option, but is not obligated, to purchase from the Trust any Mortgage Loan that is ninety (90) 90 days or more delinquent. The purchase price therefor shall be 100% of the unpaid principal balance of such Mortgage Loan, plus all related accrued and unpaid interest, and the amount of any unreimbursed Servicing Advances made by the Servicers Servicer or the Master Servicer related to the Mortgage Loan.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (GSAA Home Equity Trust 2006-2)

Option to Purchase Defaulted Mortgage Loans. The Depositor Servicer shall have the option, but is not obligated, to purchase from the Trust any Mortgage Loan that is ninety (90) 90 days or more delinquent. The purchase price therefor therefor, which shall be deposited in the Distribution Account, shall be 100% of the unpaid principal balance of such Mortgage Loan, plus all related accrued and unpaid interest, and the amount of any unreimbursed Servicing Advances made by the Servicers or the Master Servicer related to the applicable Mortgage Loan.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (BCAP LLC Trust 2008-Ind1)

Option to Purchase Defaulted Mortgage Loans. The Depositor shall have the option, but is not obligated, to purchase from the Trust any Mortgage Loan that is ninety (90) 90 days or more delinquent. The purchase price therefor therefore shall be 100% of the unpaid principal balance of such Mortgage Loan, plus all related accrued and unpaid interest, and the amount of any unreimbursed Servicing Advances made by the Servicers applicable Servicer or the Master Servicer Trustee related to the Mortgage Loan.

Appears in 1 contract

Samples: Trust Agreement (Gs Mortgage Sec Corp Mort Pass THR Certs Ser 2003-Sea2)

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