Optional Purchase of Certificates. (a) On any Distribution Date on which the Pool Stated Principal Balance, prior to giving effect to distributions to be made on such Distribution Date, is less than ten percent of the Cut-off Date Principal Balance of the Mortgage Loans, the Servicer shall have the right, at its option, to purchase the Certificates in whole, but not in part, at a price equal to the outstanding Certificate Principal Balance of such Certificates plus the sum of Accrued Certificate Interest thereon for the related Interest Accrual Period and any previously unpaid Accrued Certificate Interest.
Optional Purchase of Certificates. (a) All but not less than all of the Class A, Class M-1, Class M-2, Class R-1 and Class R-2 Certificates (but not the Class B-IO Certificates) are subject to purchase by Xxxxxxxxx, at its option, on any Distribution Date on or after the Optional Securities Purchase Date from the then Certificateholders thereof; provided, however, that Xxxxxxxxx may appoint a designee to purchase one or both of the Residual Certificates. The purchase price for each Class A, Class M-1 or Class M-2 Certificate shall be equal to the sum of (i) the aggregate Current Principal Amount of that Certificate, (ii) any accrued but unpaid Current Interest thereon at the applicable Pass-Through Rate and (iii) any Interest Carry Forward Amount with respect thereto for such Distribution Date. The purchase price for each of the R-1 and R-2 Certificates shall be $1.00. In order to exercise the Optional Securities Purchase Right, Xxxxxxxxx must, no later than the eighth Business Day prior to the applicable Distribution Date, deliver to the Issuer, the Trustee and the Securities Administrator (with copies to the Rating Agencies and the Master Servicer) written notice, in the form of Exhibit L hereto, of its intent to purchase the Class A, Class M-1, Class M-2, Class R-1 and Class R-2 Certificates and of the Distribution Date on which it intends to do so. The Trustee shall furnish notice of the exercise of the Optional Securities Purchase Right to the applicable Certificateholders in compliance with Section 5.09(c). On the Distribution Date on which the Optional Securities Purchase Right will be exercised, Xxxxxxxxx shall deposit the appropriate amount in cash with the Trustee. Such amount shall be deposited by the Trustee into a separate sub-account of the Distribution Account. Such amounts shall be paid by the Trustee to Holders of the applicable Certificates as provided in Section 5.09(d).
Optional Purchase of Certificates. (a) On any Distribution Date on which the Pool Stated Principal Balance, prior to giving effect to distributions to be made on such Distribution Date, is less than ten percent of the Cut-off Date Principal Balance of the Mortgage Loans, either the Master Servicer or the Company shall have the right, at its option, to purchase the Certificates in whole, but not in part, at a price equal to the outstanding Certificate Principal Balance of such Certificates plus the sum of Accrued Certificate Interest thereon for the related Interest Accrual Period and any previously unpaid Accrued Certificate Interest.
Optional Purchase of Certificates. (b) On any Distribution Date on or after the Step-Up Date, the Master Servicer shall have the right, at its option, to purchase the Class A, Class M and Class B Certificates in whole, but not in part, at a price equal to the sum of the outstanding Certificate Principal Balance of such Certificates plus the sum of one month's Accrued Certificate Interest thereon, any previously unpaid Accrued Certificate Interest, and any unpaid Prepayment Interest Shortfall previously allocated thereto.
Optional Purchase of Certificates. (a) On any Distribution Date on or after the Loan Group I Optional Termination Date or Loan Group II Optional Termination Date, either the Master Servicer or the Depositor shall have the right, at its option, to purchase the Classes of Certificates with respect to the related Loan Group in whole, but not in part, at a price equal to the outstanding Certificate Principal Balance of the related Certificates plus Accrued Certificate Interest thereon for the related Interest Accrual Period and any previously unpaid Accrued Certificate Interest, including any Group I Prepayment Interest Shortfalls and Group II Prepayment Interest Shortfalls, as applicable, remaining unpaid on the preceding Distribution Date, together with interest thereon at the related Pass-Through Rate for such Class of Certificates to which such Group I Prepayment Interest Shortfalls or Group II Prepayment Interest Shortfalls as applicable, were allocated (as adjusted from time to time, with respect to the Class A-II Certificates) until such Group I Prepayment Interest Shortfalls or Group II Prepayment Interest Shortfalls have been paid in full.
Optional Purchase of Certificates. (a) On any Distribution Date on or after the Optional Termination Date, the Master Servicer shall have the right, at its option, to purchase the Class A Certificates and Class M Certificates in whole, but not in part, at a price equal to the sum of the outstanding Certificate Principal Balance of such Certificates plus the sum of one month's Accrued Certificate Interest thereon, any previously unpaid Accrued Certificate Interest, and any unpaid Prepayment Interest Shortfall previously allocated thereto.
Optional Purchase of Certificates. (a) On any Distribution Date on which the Pool Stated Principal Balance is less than ten percent of the Cut-off Date Principal Balance of the Mortgage Loans, either the Master Servicer or the Company shall have the right, at its option, to purchase the Certificates in whole, but not in part, at a price equal to the sum of outstanding Certificate Principal Balance of such Certificates plus the sum of one month's Accrued Certificate Interest thereon and any previously unpaid Accrued Certificate Interest.
Optional Purchase of Certificates. (a) On any Distribution Date on which the Pool Stated Principal Balance for Loan Group I or Loan Group II, as applicable, prior to giving effect to distributions to be made on such Distribution Date, is less than ten percent of the Cut-off Date Principal Balance of the Group I Loans or Group II Loans, as applicable, the Servicer shall have the right, at its option, to purchase the Certificates related to Loan Group I or Loan Group II, as applicable, in whole, but not in part, at a price equal to the outstanding Certificate Principal Balance of such Certificates plus the sum of Accrued Certificate Interest thereon for the related Interest Accrual Period and any previously unpaid Accrued Certificate Interest.
Optional Purchase of Certificates. (a) On any Distribution Date on which the Pool Stated Principal Balance is less than ten percent of the Cut-off Date Principal Balance of the Mortgage Loans, either the Master Servicer or the Company shall have the right, at its option, to purchase the Certificates in whole, but not in part, at a price equal to the sum of (i) the aggregate outstanding Certificate Principal Balance of the Senior Certificates and Subordinate Certificates, (ii) one month's Accrued Certificate Interest thereon, (iii) any Unpaid Interest Shortfalls with respect to the Senior Certificates and Subordinate Certificates and (iv) the amount of any Realized Losses previously allocated thereto pursuant to Section 4.05 (other than the amount of any Excess Losses allocated thereto).
Optional Purchase of Certificates. (b) On any Distribution Date on or after the Group I Step-Up Date, the Master Servicer shall have the right, at its option, to purchase the Class A-I Certificates in whole, but not in part, at a price equal to the sum of the outstanding Certificate Principal Balance of such Certificates plus the sum of one month's Accrued Certificate Interest thereon, any previously unpaid Accrued Certificate Interest, and any unpaid Prepayment Interest Shortfall previously allocated thereto, including the payment of any amounts due to the Insurer under the Insurance Agreement; provided, however, that no early termination of the Trust Fund will be permitted if it would result in, or if the Insurer can show a reasonable probability that it would result in, a draw under the Policy unless the Insurer consents to the termination. On any Distribution Date on or after the Group II Step-Up Date, the Master Servicer shall have the right, at its option, to purchase the Class A-II Certificates in whole, but not in part, at a price equal to the sum of the outstanding Certificate Principal Balance of such Certificates plus the sum of one month's Accrued Certificate Interest thereon, any previously unpaid Accrued Certificate Interest, and any unpaid Prepayment Interest Shortfall previously allocated thereto, including the payment of any amounts due to the Insurer under the Insurance Agreement; provided, however, that no early termination of the Trust Fund will be permitted if it would result in, or if the Insurer can show a reasonable probability that it would result in, a draw under the Policy unless the Insurer consents to the termination.
