Common use of Optional Purchase of Certificates Clause in Contracts

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.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc), Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)

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Optional Purchase of Certificates. (ba) On any Distribution Date on or after the Step-Up Optional Termination Date, the Master Servicer shall have the right, at its option, to purchase the Class A, Class M and Class B A 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, thereon and any previously unpaid Accrued Certificate Interest, and any unpaid Prepayment Interest Shortfall previously allocated thereto.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)

Optional Purchase of Certificates. (b) On any Distribution Date on or after the Step-Up Optional Termination Date, the Master Servicer shall have the right, at its option, to purchase the Class A, Class M and Class B A 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.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)

Optional Purchase of Certificates. (ba) 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.

Appears in 1 contract

Samples: Custodial Agreement (Residential Asset Mortgage Products Inc)

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Optional Purchase of Certificates. (b) On any Distribution Date on or after the Step-Up Optional Termination Date, the Master Servicer shall have the right, at its option, to purchase the Class A, A Certificates and 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.

Appears in 1 contract

Samples: Custodial Agreement (Residential Asset Mortgage Products Inc)

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