Optional Purchase of Delinquent Mortgage Loans. The Depositor, in its sole discretion, shall have the option, but shall not be obligated, to purchase any 90+ Delinquent Mortgage Loans from the Trust Fund. The purchase price for any such Mortgage Loan shall be 100% of the unpaid principal balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate, plus the amount of any unreimbursed Servicing Advances made by the Servicer. Upon receipt of such purchase price, the Servicer shall provide to the Trustee a Request for Release and the Trustee shall promptly release to the Depositor, the Mortgage File relating to the Mortgage Loan being repurchased.
Optional Purchase of Delinquent Mortgage Loans. The Servicer may, at its option, purchase a Mortgage Loan serviced by it that has become 90 or more days delinquent or for which the Servicer has accepted a deed in lieu of foreclosure. Prior to any purchase pursuant to this Section 3.27, the Servicer shall be required to continue to make Advances pursuant to Section 4.01. The Servicer shall not use any procedure in selecting Mortgage Loans to be repurchased which is materially adverse to the interests of the Certificateholders. The Servicer shall purchase such delinquent Mortgage Loan at a price equal to 100% of the unpaid principal balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Rate, net of any unreimbursed Advances owed to the Servicer (it being understood that upon such purchase, such unreimbursed Advances shall be deemed to have been reimbursed in full by the Servicer). Any such purchase of a Mortgage Loan pursuant to this Section 3.27 shall be accomplished by deposit in the Collection Account of the amount of such purchase price. Upon receipt of such purchase price, the Servicer shall provide to the Trustee a Request for Release and the Trustee shall promptly release to the Servicer, at the Servicer's expense, the Mortgage File relating to the Mortgage Loan being repurchased."
(e) Section 4.02(a) is hereby amended by adding the following sentence to the end of such section: "The effect of the foregoing provisions is to distribute to the Class X Certificates all principal and interest received by the Trust Fund on the Mortgage Loans that is not otherwise distributable to any Class of LIBOR Certificates."
Optional Purchase of Delinquent Mortgage Loans. Each of the Depositor and the Servicer, in each case in its sole discretion, shall have the option, but shall not be obligated, to purchase any 90+ Delinquent Mortgage Loans from the Trust Fund. During the first ten (10) days after a Mortgage Loan becomes a 90+ Delinquent Mortgage Loan, the Depositor shall have the exclusive option to purchase such 90+ Delinquent Mortgage Loan. The purchase price for any such Mortgage Loan shall be 100% of the unpaid principal balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate, plus the amount of any unreimbursed Servicing Advances made by the Servicer. Upon receipt of such purchase price, the Servicer shall provide to the Trustee a Request for Release and the Trustee shall promptly release to the Depositor or the Servicer, as applicable, the Mortgage File relating to the Mortgage Loan being repurchased.
Optional Purchase of Delinquent Mortgage Loans. While the Mortgage Pool Insurance Trigger is in effect, the Mortgage Pool Insurance Company, in its sole discretion, shall have the option, but shall not be obligated, to purchase any 90+ Delinquent Mortgage Loans that are Covered Loans from the Trust Fund for which it has not paid a claim, regardless of whether a claim has been approved for such Mortgage Loan or a Realized Loss on such Mortgage Loan has been applied to the Deductible (as defined in the Mortgage Pool Insurance Policy), on a servicing-released basis. The purchase price for any such Mortgage Loan shall be 100% of the unpaid principal balance of such Mortgage Loan (or, in the case of a Mortgage Loan for which any Loss (as defined under the Mortgage Pool Insurance Policy) has been charged, the amount of such Loss) plus other than in the case of a Mortgage Loan for which a Loss under the Mortgage Pool Insurance Policy has been charged, accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate plus the amount of any unreimbursed Servicing Advances made by the Servicer. Any such purchase shall reduce the amount of available coverage under the Mortgage Pool Insurance Policy by the amount of such purchase price. With respect to any Mortgage Loan that is not a Covered Loan, and, if a Mortgage Pool Insurance Trigger is not in effect or, if a Mortgage Pool Insurance Trigger is in effect and if the Mortgage Pool Insurer does not exercise its option pursuant to this Section with respect to any Covered Loan, the Depositor, in its sole discretion, shall have the option, but shall not be obligated, to purchase any such 90+ Delinquent Mortgage Loan from the Trust Fund. The purchase price for any such Mortgage Loan shall be 100% of the unpaid principal balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate, plus the amount of any unreimbursed Servicing Advances made by the Servicer. Upon receipt of such purchase price, the Servicer shall provide to the Trustee a Request for Release and the Trustee shall promptly release to the Mortgage Pool Insurance Company or the Depositor, as applicable, the Mortgage File relating to the Mortgage Loan being repurchased.
Optional Purchase of Delinquent Mortgage Loans. Section 3.29 Transfer of Servicing for Certain Acoustic Mortgage Loans and Certain First NLC Mortgage Loans..............
Optional Purchase of Delinquent Mortgage Loans. The Depositor, in its sole discretion, shall have the option, but shall not be obligated, to purchase any 90+ Delinquent Mortgage Loans from the Trust Fund. In addition, the NIM Insurer, if any, in its sole discretion, shall have the right to cause the Servicer to purchase from the Trust Fund, at its expense, any REO Property that is 90 or more days delinquent. The purchase price for any such Mortgage Loan or REO Property shall be 100% of the unpaid principal balance of the related Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate, plus the amount of any unreimbursed Servicing Advances made by the Servicer. Upon receipt of such purchase price, the Servicer shall provide to the Trustee or Trust Administrator, as applicable, a Request for Release and the Fremont 2006-E Pooling & Servicing Agreement Trustee or Trust Administrator, as applicable, shall promptly release to the Depositor, the Mortgage File relating to the Mortgage Loan being repurchased.
Optional Purchase of Delinquent Mortgage Loans. The Depositor (or its assignee), in it sole discretion, shall have the option, but shall not be obligated, to purchase from the Trust Fund any Mortgage Loan that (i) is ninety (90) days or more delinquent or (ii) has experienced an Early Payment Default; provided, that, with respect to a purchase under clause (i) above, the outstanding principal balance as of the Cut-off Date of such purchased Mortgage Loans shall not exceed 5% of the aggregate principal balance as of the Cut-off Date of all the Mortgage Loans in the Trust Fund. The purchase price for any purchased Mortgage Loan shall be 100% of the Scheduled Principal Balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable mortgage interest rate, plus the amount of any unreimbursed Servicing Advances made by the Servicer. Upon receipt of such purchase price, the Servicer shall provide to the applicable Custodian a Request for Release and the applicable Custodian shall promptly release to the Depositor or the Servicer, as applicable, the Mortgage File relating to the Mortgage Loan being repurchased.
Optional Purchase of Delinquent Mortgage Loans. The Servicer may repurchase any Mortgage Loan which is 90 days or more delinquent for a purchase price equal to the outstanding principal balance of such Mortgage Loan, plus accrued interest thereon to the date of repurchase plus any unreimbursed Advances, Servicing Advances or Servicing Fees allocable to such Mortgage Loan. Any such repurchase shall be accomplished by the Servicer’s remittance of the purchase price for such Mortgage Loan to the Master Servicer for deposit into the Custodial Account. The Servicer shall not use any procedure in selecting Mortgage Loans to be repurchased which would be materially adverse to Certificateholders or the Certificate Insurer.
Optional Purchase of Delinquent Mortgage Loans. The applicable Servicer (or its assignee), in its sole discretion, shall have the option, but shall not be obligated, to purchase any 90+ Delinquent Mortgage Loans from the Trust Fund. No Servicer shall use any procedure in selecting Mortgage Loans to be repurchased which is materially adverse to the interests of the Certificateholders. The purchase price for any such Mortgage Loan shall be 100% of the unpaid principal balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate, plus the amount of any unreimbursed Servicing Advances made by such Servicer. Upon receipt of such purchase price, the applicable Servicer shall provide to the Trustee a Request for Release and the Trustee shall promptly release to such Servicer the Mortgage File relating to the Mortgage Loan being repurchased.
Optional Purchase of Delinquent Mortgage Loans. The Depositor, in its sole discretion, shall have the option, but shall not be obligated, to purchase any 90+ Delinquent Mortgage Loans from the Trust Fund. The purchase price for any Fremont 2006-C Pooling & Servicing Agreement such Mortgage Loan shall be 100% of the unpaid principal balance of such Mortgage Loan plus accrued and unpaid interest on the related Mortgage Loan at the applicable Mortgage Interest Rate, plus the amount of any unreimbursed Servicing Advances made by the Servicer. Upon receipt of such purchase price, the Servicer shall provide to the Trustee or Trust Administrator, as applicable, a Request for Release and the Trustee or Trust Administrator, as applicable, shall promptly release to the Depositor, the Mortgage File relating to the Mortgage Loan being repurchased.
